He has a monthly readership of , traders and has taught over 20, students. Knowing the basics of Forex is great, and every trader needs to know them, but if you are serious about making consistent money in the markets, you need to learn real-world trading strategies that will provide you with a high-probability trading edge.
I am very passionate about trading Forex, and I know a lot of other people are too, but unfortunately there is so much misleading information about it, that it can be really difficult to get started on the right path.
My goal as a trading mentor is to lay a simple path for all traders to follow, that path is paved with the price action strategies that I have found to be very effective over the years. Be sure to check out Part 6 of the course on price action analysis for a refresher on what price action trading is all about. I have an arsenal of powerful price action patterns that I look for within the structure of the market. Whilst the majority of my trades are following the trend of the market, I will occasionally take a counter-trend trade setup or a range-bound market trade.
When I see one of my trade setups has formed at a key level in the market, I consider this a green-light confirmation signal for me to enter a trade. I wrote a very popular article last year on the concept of being a patient trader waiting to ambush trading opportunities, you can read that article here: In regards to my price action trading strategies, trading with confluence means looking for multiple factors on the chart that support the case for entering on a price action signal that has formed.
Overall, my trading strategy might appear quite simple, and frankly it is, but as I said before; simple is better in Forex trading. Thus, my main priority as a trading mentor is to teach my students how to trade with a simple forex trading strategy. The daily chart gives you the best view of the market and also provides the most effective filter against the noise of the small time frames.
I also trade the 4 hour time frame quite often, and occasionally the 1 hour charts, but I NEVER look at any time frame under the 1 hour. I also trade gold and silver and occasionally look at crude oil, the Dow Jones cash market, as well as some of my local Australian stock indexes. Most traders over-analyze the market and confuse themselves as a result, this ends up in them trading emotionally and losing money.
Thus, I have no desire to sit in front of my computer screen staring at the 5 minute chart like a strung-out zombie-trader. I really want to stress the fact that taking a slow and calculated approach to your trading is far better than trying to be a day-trader or entering 20 trades a week. You will make money faster by being a patient trader and taking a daily-chart outlook. Forex trading success is measured in months and years, not in days or weeks.
So, if you remember nothing else from my website, remember that slow and steady wins the race. The fact is that most traders struggle to make money in the markets, they get frustrated, emotional, lose money, lose time, and generally have no concrete trading strategy or forex trading plan. I will teach you how to read the natural price dynamics of a price chart and how to find high-probability entry points within it.
You will develop a discretionary trading sense that will allow you to trade for yourself forever; this is a skill that you can carry with you to not only Forex but to any market. In essence, the market is dynamic and constantly changing, so you need a trading strategy that gives you the ability to trade in this type of environment. A market will change over time, and as a price action trader, you have the ability to change and adapt with it.
I would like to extend my personal thanks to each and everyone one of you who made it all the way through this Forex introduction course. I hope that you now have a solid understanding of the Forex market and Forex trading. If you would like to continue learning about the power and simplicity of Price Action, then you should consider my Professional Price Action Forex Trading Course and Trading Community here.
For more information visit the Forex Course page here. Introduction — What Is Forex Trading? What is Professional Forex Trading? What is Fundamental Analysis?
What is Price Action Trading Analysis? Introduction to Forex Charting. Common Forex trading mistakes and traps.
What is Technical Analysis. How to Make a Forex Trading Plan. The Psychology of Forex Trading. And I would like to watch a live trading setup. I am very much great full to you for this wonderful and motivative write-up,this will go along way in encouraging people like me into diving into the world of forex trading.
Dear sir, Your article is very important and useful foe us. But if you explain more easy language then it will be more easy to understand for foreign people like me. Thanks for providing such valuable info as I have not came across any site which provide this kind of understanding on basics of forex markets. I really really appreciate you.. Your email address will not be published. Notify me of new posts by email.
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Futures, options, and spot currency trading have large potential rewards, but also large potential risk. You must be aware of the risks and be willing to accept them in order to invest in the futures and options markets. Don't trade with money you can't afford to lose. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed in any material on this website.
The past performance of any trading system or methodology is not necessarily indicative of future results. Forex, Futures, and Options trading has large potential rewards, but also large potential risks. The high degree of leverage can work against you as well as for you.
You must be aware of the risks of investing in forex, futures, and options and be willing to accept them in order to trade in these markets. Forex trading involves substantial risk of loss and is not suitable for all investors. Please do not trade with borrowed money or money you cannot afford to lose. Any opinions, news, research, analysis, prices, or other information contained on this website is provided as general market commentary and does not constitute investment advice.
We will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from the use of or reliance on such information. Please remember that the past performance of any trading system or methodology is not necessarily indicative of future results.
What you will learn from me as your trading mentor. Forex Trading Terminology Part 3: Introduction to Forex Charting Part 8: Common Forex trading mistakes and traps Part What is Technical Analysis Part The Psychology of Forex Trading Part Christmas Trading Course Special: Checkout Nial's Professional Forex Course here. Lyndt September 29, at 6: Thanks Nial, very helpful indeed Reply. Murtala Atabo September 11, at 9: Vinod May 8, at 3: Mohammed Yahaya January 20, at 3: You have just succeeded in concretising my mind set about the business.
Abdullah al hasan January 9, at 4: Mayen October 29, at Thanks a lot for this masterpiece. Louise du Plessis September 30, at 2: Thank you for this excellent information.
Easy to understand and logical. Atif Riaz September 2, at 1: Awsome wrk done by nial the way u define it all i think no space to define.. Bhavin August 25, at 4: Ashok Jaria August 16, at 1: Leave a Comment Cancel reply Your email address will not be published. What Is Forex Trading? What is Technical Analysis?More...