7 Steps: Your Introduction to Trading

Introduce what a market is and who participates, including forex, hedge funds, and the stock market, and explain how supply and demand move prices on a four-hour chart.

Explore how price discovery balances buyers' bids and sellers' asks to set market price, and differentiate price from value using tulip mania and Buffett's view.

Identify the key markets in trading, including the foreign exchange market, stock market, bond market, commodity markets, futures, derivatives, spot market, money market, and interbank markets, and contrast their features.

Explore the forex market participants—central banks and governments, banks and financial institutions, hedgers, and speculators—with examples like Bank of England, Fed, ECB, and Bank of Japan, and hedge versus speculate.

Explore market hours across major exchanges and how time zones and daylight saving shape FX trading sessions, including NYSE, Nasdaq, Nikkei, DAX, and UK markets.

Explore the forex market's size, liquidity, and major and exotic pairs. Learn how long and short positions work and why the U.S. dollar dominates global trading.

Explore how central banks, governors, and interest rates shape forex markets across the US, euro zone, Japan, and Britain, then examine China’s rising role and rapid growth.

Trace the history of forex and the role of monetary authorities from Bretton Woods to the eurodollar era, covering interest rates, debt, and the 5.3 trillion daily trades.

Set up a demo account with the right broker and practice a tested, low-risk strategy before trading live; then explore broker types, Mac setup, and false claims with metal trader.

Explore the main broker types for trading, including spread betting, CFDs, futures, and binary options, with a focus on leverage, underlying assets, and country-specific tax considerations.

Explore US brokerage accounts with examples like forex.com and Ameritrade, highlighting their trading platforms, market analysis, pricing, and support. The lecture also notes brokers that allow direct futures trading.

Identify two brokers for directly trading futures, including cqg dot com and trading technologies dot com, each offering trials. Avoid rushing into futures; start by researching brokers first.

Learn how to set up a demo trading account on a Mac, including installing meta trader on Mac, using trading view, and configuring a dual operating system with a portal.

Expose false broker claims about commissions, the P book, and hedging, then emphasize practicing in a demo account to develop a consistent, low-risk trading strategy before going live.

learn two ways to set up a meta trader demo account—via a broker’s site or meta trader’s site—plus profiles to save charts and a step-by-step setup guide.

Log into a MetaTrader demo account, explore available options, read charts, pairs, and prices, and place, manage, and close trades in step three.

Learn to personalize your password in Metts trader by navigating to Tools, selecting Options, then changing your password with current, new, and confirm steps, and saving with OK.

Explore the trading platform’s view options, language settings, and toolbars, plus market watch, data window, and strategy tester; navigate indicators and expert advisers, and manage trades to monitor performance.

Explore the trading platform's indicators and drawing tools, including RSI, stochastic oscillator, trend lines, Fibonacci retracement, and pitchfork cycle lines, to mark highs, lows, and price retracements.

Explore chart options for trading, including the indicators list, objects like trend lines and horizontal lines, and switching between candle, line, and box charts with different time frames and templates.

Use the tools to place new orders, set volume, stop loss, and take profit; download data from the history center and customize server, charts, notifications, and expert advisors or scripts.

Explore window options: open a new window to chart USD/CHF, tile windows, maximize and restore by double-click, cascade, and tile horizontally or vertically, then switch to the DAX.

Explore help topics, search the platform for information, access technical analysis guides and video tutorials from Mentor Trader, and connect with online communities and app stores.

Navigate toolbar one to access new charts, market watch, data window, trading terminal, strategy tester, and indicators like RSI, while placing orders and running scripts.

Use the tool bar to add vertical, horizontal, and trend lines, channels, fibonacci text boxes, and arrows with the arrow or crosshairs, then switch among minute to month timeframes.

Learn how to use the right-click trading menu to place orders, set alerts, and manage charts with templates, indicators, and drawing tools for quick, informed trading.

Learn to read forex charts by analyzing four-hour candles, identifying bullish and bearish candles via open, high, low, and close data. See how prices like AUD/CAD and USD/CHF are read.

Learn to place a USD/SGD trade, set stop loss and take profit, calculate position size with 1% risk, and close the trade when targets are reached.

Explore 18 free online trading resources, from Trade Bait Talk to Bloomberg and Trading Economics, to access daily technical and fundamental analysis, market data, and event risk.

Learn essential forex lingo and definitions, including asking prices, base and quote currencies, margins, stop loss, take profit, and common trader types, with notes and a definitions resource.

Learn to calculate and manage risk with stop-loss concepts while analyzing live forex trends, including usd/sgd and cad/jpy, with breakout and consolidation insights.

Calculate and control risk per trade using entry price, stop loss, and position size. Set risk as a percentage of your account and use a calculator to determine size.

Explore the three main types of analysis—fundamental, technical, and sentimental—and how central banks, economic calendars, on-chart analysis, indicators, oscillators, and divergence guide trading.

Explore how central banks use expansionary and contractionary monetary policy and hawkish or dovish tones to manage inflation, price and currency stability, guided by data on employment, growth, and confidence.

Learn how event risks from economic data releases, market opening times, and the London fix at 4 pm on month-end drive volatility for intraday traders.

Begin your economic understanding for trading by studying data from forex factory and investing.com, and apply fundamental and technical analysis, including central bank signals.

Learn what technical analysis is and why traders use it, studying chart patterns, past price action, and key levels to judge probable future moves while recognizing risks and opportunities.

Identify highs and lows on the chart to gauge strength, noting uptrends with higher highs and higher lows, downtrends with lower highs and lower lows, and breakouts as entry signals.

Identify support and resistance on price charts by connecting highs and lows; the more points connected, the stronger the signal, with buyers at support and sellers at resistance.

Explore how round numbers on currency charts act as support and resistance. See how buyers, sellers, and the options market influence price action around key levels like 100 and 125.

Draw diagonal trendlines by connecting highs and lows and add horizontal support line to map price action. Buyers and sellers react at tests, and more touches strengthen the trend line.

Explore chart patterns such as head and shoulders, wedges, triangles, and double tops and bottoms; draw trend lines to set targets and use 80 percent of the move for entries.

Explore fibonacci retracements and extensions in chart analysis, using the golden ratio to identify support and resistance levels from highs and lows, including 50% and extension targets.

Master moving averages that average closing prices to reveal trend and potential buyer or seller interest. Use 13, 21, and 55 on charts to identify uptrends and downtrends across timeframes.

Explore Japanese candlesticks and how open, high, low, and close define price action, using long candles and wicks to gauge buyer and seller strength; preview pivot points next.

Analyze market momentum by examining the interaction of buyers and sellers, gauge strength from highs and lows on the chart, and distinguish trends from sideways moves.

View the market as buyers and sellers, where momentum shows which side is stronger. Take long or short positions based on the leading side to ride the move.

Identify areas of consolidation by drawing rectangles that mark where buying and selling forces balance, then watch for breakouts in fast-moving markets.

Identify breakouts by watching horizontal support and resistance, wait for strong candle closes to confirm the move, and trade with the trend while accounting for volatility with stops.

Explore on-chart analysis of fakeouts, where price tests a downtrend line, briefly breaks, but fails to close above it, using candle closes as a time filter.

See buyers overwhelm sellers, push prices higher, and watch momentum fade as sellers regain control, signaling reversals and u-turns with retracements.

Study how retracement in a bull market shows two steps forward, one step back, and how Fibonacci retracement and indicators help traders identify better price levels.

Explore the stochastic oscillator, comparing fast green and slow red lines, with crossovers signaling shifts in buyer and seller strength in ranging markets, and overbought and oversold signals.

Demonstrates the MACD indicator, showing how the faster and slower moving averages cross to signal buy and sell moments, while highlighting its lagging nature and use in gauging momentum.

Explore the relative strength index (RSI), identify overbought and oversold levels at 70 and 30, and use highs, lows, and divergence to assess market strength and potential breakouts.

Analyze divergence between price action and indicators such as RSI and stochastics to identify market weakness and shifting momentum, and note how automated systems use these signals.

Automated trading machines use technical analysis and oscillators to analyze highs and lows and judge market movements. They program indicators for semi-automation or full automation, enabling signals and rising competition.

Explore sentiment analysis to gauge market sentiment and determine whether traders are bullish or bearish, while volume indicators and the commitments of traders illuminate market thinking.