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The Advanced Forex Course for Smart Traders is based on the careful study and application of the principles and practices of the famous "Market Wizards".
The Market Wizards are the elite traders and investors interviewed by Jack D. Schwager in his Market Wizards series of books.
This includes great traders such as Richard Dennis, Van K. Tharp, Tom Basso and Ray Dalio.
In this Forex course we have isolated what it is these top traders do, and how they think and present it to you in a week-by-week lesson format.
Here are the twenty lessons:
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|Section 1: The Road Map to the Advanced Forex Course for Smart Traders|
Learn how to get the most out of this course.
|Section 2: Lesson #1|
This lecture emphasizes the importance of your beliefs about the market as you start to formulate your trading plan.
Every action you take is first filtered through your beliefs. If you do not truly believe you can win, you may find trading quite draining and perplexing.
Here’s how to drive your trading planning and performance through the power of self-belief. It’s absolutely essential.
|Section 3: Lesson #2|
There’s a lot more than numbers and statistics involved in trading at a top level. The market wizards distinguished themselves as truly self-aware and highly emotionally intelligent.
Learn what makes the top traders different, and how to apply the same principles. It’s easier and more rewarding than you might think.
|Section 4: Lesson #3|
Financial freedom is a huge milestone for anyone, but what does it truly mean to you? This lesson is designed to help you conceptualize and set meaningful goals for achieving and maintaining your independence.
By being clear with ourselves on what we expect from financial freedom, and how much money it will take to get there, we are able to formulate good short, medium and long-term milestones to strive for.
|Section 5: Trade Examples AUDUSD|
|View examples of trades based off the principles from this course.|
|Section 6: Lesson #4|
This is our first peek into the market’s many facets and machinations. How the financial system works, why opportunity is everywhere, and how to react when you’re inevitably wrong sometimes.
With a compelling model of the market, you can start to formulate ideas for what will happen when and why. As you get more advanced, you’ll also start to realize the importance of ‘who’ and ‘how’.
This lesson is about how to construct your model from scratch, and then use it analyze the markets
|Section 7: Lesson #5|
A casino tends to win at its own games over time, because it has a built-in edge. This lesson is about how to recognize, develop and apply your very own edge to forex trading.
By developing an edge and properly defining your initial risk, it becomes easy to see the value in stalking great entries. From here on we will redefine the way we express profits, preferring to use a statistical measure based on the initial risk.
|Section 8: Lesson #6|
Objectives are the first and most crucial step in system development. We’ve talked about how to create a model, and now we want to create a system to put that model into effect.
How much do you want to make? How much can you stand to lose? How will you recover if you lose too much? These are important considerations that will drive the basis for your system.
|Section 9: Lesson #7|
Your model and system let you identify and trade opportunities. Your position sizing is what determines how much you stand to make, and how much you may lose.
Sizing your positions strategically is most valuable when done in line with clear objectives. If you identify a high-probability trade, it’s only natural that you configure the risks and rewards to benefit you most. Here’s how.
|Section 10: Lesson #8|
It is much easier to build a winning system for one or two market types, rather than waste time and energy looking for the holy grail system that works in all market types.
In this lesson you will learn an easy-to-use visual approach to market type identification.
|Section 11: Trade Examples USDJPY|
View examples of trades based off the principles from this course.
|Section 12: Lesson #9|
A damn-good set-up provides you with your edge over the markets.
Some set-ups are identified as patterns on the chart, and others are identified by the state of affairs in the relevant political and economic spheres. The more opportunities you see, the more you can capture.
|Section 13: Lesson #10|
You’ve lined up your target, and you know you’re going to pull the trigger – but when? If you find the right moment to enter a high probability trade, you can substantially increase your risk/reward ratio.
Here’s how to stalk the best possible entry: it’s what turns a good trade into a great one.
|Section 14: Lesson #11|
Forex is a zero-sum game. When you win, someone loses and vice versa.
This lesson outlines some key considerations when placing your stop, and in so doing introduces the concept of dealing ranges.
|Section 15: Lesson #12|
Even more important than where to enter a forex trade is where to get out.
The market is going to force you to make decisions, and the more eventualities you are prepared for, the quicker, safer and more accurately informed your exits can be.
|Section 16: Lesson #13|
Managing your trades is all about making the most of every situation, both good and bad. Learn how to capitalize properly, all while cutting your losses short.
This lesson includes the critical skills of scaling-in, scaling-out, building a risk-free position and trading around your position.
|Section 17: Trade Examples USDCAD|
View examples of trades based off the principles from this course.
|Section 18: Lesson #14|
If you’re trading at size, you need to be confident and committed. If you don’t manage your risks appropriately and if you don’t stick to a predetermined overarching plan, you could be asking for trouble.
Determine the maximum number of trades you will manage at one time, as well as how much you’re prepared to lose in any given day, week or month. Here we expand on correlations and synthetic positions, which are both good concepts to be aware of when you maintain large trades.
|Section 19: Lesson #15|
The top traders think a lot differently than retail traders do. They are disciplined and often ruthless with their trade management. They manage risk almost as well as it can be managed.
They think against the herd – they don’t arbitrarily dismiss ideas because they’re not popular. They pull back when they’re losing, and go for home runs when they’re already winning. They know when to hold’em and when to fold’em, and here’s how that can be you.
Part 2 of the Master Trader Mindset Lesson.
|Section 20: Lesson #16|
According to one master trader, trading is 100% psychology. Everything rides on your ability to make good decisions at the right time, and manage your trades without emotional interference or ego ruining things.
Learn how to isolate and work on any issues that may stand in the way of your trading business. Make small but very real changes at the core of who you are, and the outward effects will be rewarding both inside and outside of trading.
|Section 21: Lesson #17|
There’s a marked difference between trading in the zone and trading out of the zone. The former is worthwhile because you are fully responsive. The latter can be destructive, because it involves trading anxious, scared, or just plain distracted.
It’s not your fault if you get knocked out of the zone temporarily. Everyone does from time to time. What matters is how you react. Learn to work on yourself like an athlete, and remove barriers to your focus, whatever and wherever they may be.
|Section 22: Lesson #18|
At this point in the course, you can grasp the nuances of position sizing and begin to tackle the mathematics and psychology of adjusting risk dynamically. Learn to use your profits in aggressive ways, all while protecting your core capital.
|Section 23: Lesson #19|
The best traders do more than just trade. From self-analysis and brainstorming to focusing intently during their mental rehearsal sessions, these traders work almost relentlessly at being the best they can be.
They know how to stay positive when their back’s to the ropes, preserving their energy and waiting for their chance. They know the markets, but most of all they know themselves. For the emotionally intelligent, this is very achievable state to attain.
|Section 24: Lesson #20|
Your trading plan should fit your personality like a glove. It should be an extension of your self. It should feel natural to follow your plan, and it should be easy to change as you learn and grow. But it should never be your entire life.
A diversified income stream and a fulfilling life outside of trading will help you trade in the zone much more easily. Too much trading can be a bad thing, unless you’re a natural born day-trader. Learn how to trade with gratitude, and stay aligned with your purpose.
Sam has been trading since 2007. Sam is an ex-army officer and he holds a masters in Leadership. In 2008 Sam joined one of the top 10 Global Forex brokerages, where he worked in both Australia and Singapore. Since then he started a share investing business, SpoonFed Investor and Forex trading business FX Renew.
Heavily influenced by the Market Wizards, the following are five of Sam’s core beliefs on trading:
Sam’s trading style is rules based discretionary. He looks to define the market type and direction using fundamentals and technicals, and then uses price action to stalk an low risk/high reward entry across time frames.