Welcome and congratulations on making the leap into speculators trading. Over 12 weeks you’ll set a routine to study the sentiment and research market themes. While continuously working on scientifically proven formulas to reach peak performance. By the end of the program expect to be able to identify trends ahead of time and spot predictable and directionally biased price movements across various FX crosses, commodities and Indices. In 3 month you’ll be able to predict why, when and which asset will be moving and even better you’ll trade them with unparalleled confidence.
We mainly tackle charts from the daily and 4 hourly candles. It’s less time consuming and very accurate. Main techniques we deploy are price action candles and supply&demand zones. Both setups are explained in detail in here and here. Occasionally we enter at market without any setups and simply control risk from recent daily or weekly lows, this is particularly the case if sentiment is very strong and market is ready to move
Setting up News desk
Following this video please have your news sources paid or unpaid all book marked and readily available. Including access to charting software. This link is a reliable source for your daily market research all in one page.
The program offers an experience based learning curve. This is why it is paramount that you set aside an hour at night(end of trading day) or in the morning before your timezone comes online to review why prices across all major currencies pairs usd,cad,euro,gbp,yen,aud and nzd and also minors nok,sek,zar and cny moved, as there are always opportunities lingering. And commodities gold,silver,oil,iron-ore and copper and indices s&p500,dow jones,ftse and nikkei in order to gauge economic health and last but not least Crypto currencies as recently rotation into blockchain has created sizable volatility. That seem to be a lot to track. But soon after your first week of market recaps you’ll realise, there is usually a handful of themes that dominate market. Those are not always tradable. Keep in mind your job in the beginning of the program is not trading but tracking. Thus it is our core practise to recap every single day in order to be well informed. This is the single most important practise you’ll work on throughout the entire course. Use this , this, and this video as a guide.
You are starting a new habit by dedicating time and concentration to reading news that you never touched on before. On top of that a lot of the words and subsequent market reaction could seem very odd or senseless to you, they are indeed very insightful and fascinating. But at this stage you might not understand it enough to appreciate all the material.When the going gets tough and you feel like giving in to your old ways use these tools to keep your fire raging:
-Mirror someone else’s behaviour that you admire. Don’t substitute their decision making for yours, just copy their attitude and drive towards your common goals.
-Mental energy is a lot like physical energy it depends on glucose, and once depleted you are more likely to ditch your commitment to the new routine. New behaviours consume more energy than you think, so in order to keep it going prioritise, even if you have to relax another task.
-Repetition is easier to tolerate if you can make it fun. Find the fun in any activity and it becomes easier. For me doing recaps is great fun, because I know there is money involved and making money is fun.
There are plenty more tools which are at your disposal which we will look into at later stages.