Forex:Trade Management & Psychology
- 2 hours on-demand video
- 4 downloadable resources
- Full lifetime access
- Access on mobile and TV
- Certificate of Completion
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- Correctly work out risk per trade.
- Understand how to manage profits and losses
- Have a clear understanding of market psychology
- Know different stop-loss implementations
- Know various live trade management techniques
- Know how to adapt a Traders Mindset
- You will need a thorough understanding of using the MT4 Platform
- The Forex Market basics course would be a good groundwork to start off from
This course is for those who are struggling within their trading. If you find yourself not maintaining consistency or fall pray to emotions this course will help you with techniques to remove most of the problems.
We focus on Money management, how it gets applied and the different methods to be applied in random situations.
Another big focus is trading psychology to cover the emotional issues that traders face, namely fear and greed. We delve deep into the thinking patterns of a pro trader and how they manage their thinking process. This is critical for long term success in trading.
The course delves into money management first, and then we flow over into trading psychology.
- Anyone having issues with big losses on trades, Second guessing most entries, Not knowing how to define their risk, difficulty with consistency, Trouble with fear and greed or Just wanting to brush up on some skills with money management and trading Psychology would find this course very helpful
- The money management aspect would not benefit an experienced trader, but the psychological aspect might just be the missing link for you.
To be able to best utilize the course itself, it is suggested that you use the MetaTrader4 Platform to practice on. This platform (MT4) is free to use, the feed you get for the Live Price Data is free as well. A lot of Brokers use the platform so this means you only need to learn one platform and can use almost any broker you want.
We have a few suggested brokers for you, all whom we trade with ourselves:
FXCM UK ECN
Find the info on how to download and register for the platform attached to this lecture.
The key focus is to try and practice spotting entry signals with the indicators you'll be learning. The better you understand the indicators and how to read them, the easier it would be for you to progress to the next level.
If you would like to get even more info on indicators, you can join our webinar series titled Beginners guide to using Technical Analysis
In this Section we are dealing with one of the most important factors when it comes to trading the markets. Money Management is the thing that keeps you in control with risk. Most people think that trading is gambling, they are WRONG... we use money management to protect ourselves from unneeded losses and to set our system up in such a way that the odds are with us and the most profits are gained.
After you have finished with this Section, The best thing to do would be to start taking some trades on the MT4 platform. Do this as often as possible, because the more you do it, the quicker you learn, we are trying to create proper habits within our trading. So make sure that from now on ALL your trades use the money management principles upon entering each trade.
The biggest mistake most traders make is taking the incorrect risk per trade. This can be due to emotions, lack of knowledge or simply human error. Here we show you the correct way to make sure you know what you are risking on each trade.