Short Term Trading: Examples| Journaling |Performance Review
What you'll learn
- Students will learn several ways to approach short term trading for income with Live Account examples
- Students will learn several techniques for using basic drawing tools (Horizontal Lines, Fibonacci Retracements, Trendlines/Channels) for trade entries/exits
- Students will get insight into how leverage can be used effectively for short term trading and scalping
- Preparation for the trading day, gauging volatility, being aware of economic releases will be covered
- These concepts can be applied to different time frames and financial instruments. Anyone interested in a chart based approach will benefit greatly
- Students should have at least basic knowledge about trading or business in general. They should be comfortable operating a computer
In this course we will:
Perform straightforward chart based analysis on a Forex pair or index.
Take the current market environment into account as an additional layer of analysis
Not be using any indicators, only drawing tools
Cover the topics of Routine, and Psychology, and Risk
Trade a Live MT4 Forex account, which offers the "US30" (basically the DOW)
After this course students will have learned:
New techniques, or exposure to a different style that can potentially complement their own in various ways
Uncomplicated methods of estimating profit targets
Insight into scaling approaches
That Day Trading or Scalping does NOT have to mean being in front of a computer all day, or even hours.
How to use leverage properly
How to evaluate performance
See all the activity that produced more than a 7% gain in a chaotic summer market environment, from July 1st 2019 through August 30 2019.
*Update* - We are seeing some volatility in the markets. I added an image of a short term trade on US30 from 10/28/2020. As a reminder, this is an approach to the markets that we aim to keep as straightforward as possible.
Who this course is for:
- People interested in learning a different approach to trading
- People looking to add tools to their trading toolkit
- Anyone looking to build analytical and technical skills that can be very lucrative when applied properly (however, if you have no trading experience, please do some research into the business first)
- Individuals interested in beginning research into a business that is run from their homes. or anywhere, on a laptop.
Philip currently focuses on short term trading in foreign exchange and U.S. equity futures. His experience includes work in software / e-commerce businesses. He partners with The Foreign Exchange Trading Academy, LLC and guides newer traders, providing insights and helping to reduce their learning curve.
He holds a Bachelor's Degree from Baruch College with a focus in Finance, has gone through professional exams, holding Series 6 license and more recently passing Series 34 - Retail Off-Exchange Forex Exam. Staying on top of trading industry developments and software that can help efficiency are a couple of hobbies, as well playing tennis and volunteering.