Become a Forex Trader with Proprietary Funding Firms

You will only learn the Preschool & Kinter garden section. Other are irrelevant to our trading system.

Using the ForexFactory we mark the dates when Banks decides on interest rate revision. As well the Non-Farm Employment details published every  month from United States.

The following Currencies to be watched:

Euro Dollar

US Dollar

Australian Dollar

New Zealand Dollar

Canadian Dollar

Swiss Franc

UK Sterling or Pound

Japanese Yen

Note: DO NOT TAKE FRESH TRADES ON ANY OF THE ABOVE NEWS A DAY OR TWO EARLIER.

DO ALSO CLOSE ANY FLOATING TRADES IF ANY, IRRESPECTIVE OF ANY PROFITS OR LOSSES.

ATR (Average True Range) is an excellent tool available in Metratrader for money management. Using this we decide how much to trade, where to place our stoploss or take profit levels.

I recommend only to risk 1% of the capital. If the capital is $100000, you risk only $1000 per trade on any Currency Pair.

Example: On that day, you see an opportunity based on Indicators to trade EURUSD, go ahead taking 1% risk.

If you  see two opportunities one on EURUSD & GBPAUD, you still can risk 1% on each trade.

If you see two opportunities on same currency, EURUSD & EURCAD, split the risk by half, 0.5% & 0.5%

By having a proper risk management we mitigate loss carefully and trade peacefully.

If you wish to trade on the 4 Hour Timeframe, then only risk 0.5% of the capital per trade.

Risking more than our rules only leads to FOMO trades (Fear of Missing Out) leading to disaster.

Trading Psychology is the most neglected part by any trader. He must understand that behaviour and conduct of oneself is key to be a successful trader. If you want to embark on trading profession you got to have a trader's mindset and understand that trading is completely a probability game for which you have to have an trading edge with the following attributes:

Discipline: Discipline it terms of risking the percentage of capital, Discipline in terms of position size and Disicipline to stick to one TimeFrame on the charts.  The courage to place the trades and not to see the charts until the next session start at 5pm EST. (You need to find the equivalent time for the country you reside.)

Patience: Patience of waiting for a setup based on our algorithm and not to deviate from the trading rules we have set in the algorithm. There might be few days or few weeks we don't get the right setup to place trades. We just move on only with monitoring our existing floating trades.

Consistent: Consistency is one such key role which can be developed only with Discipline & Patience. Consistency is the armour which can lead us to achieve the results we desire in trading. Once you break the rules and deviate the strategy, either my risk parameter or position size you can feel the impact when the market goes against you.

All the above can only be learned by practically trading and no one can coach this unless you yourself experience it in a demo account.

The below link provides the content to understand candle sticks and Heiken Ashi candles.

https://www.babypips.com/learn/forex/how-to-calculate-heikin-ashi