Forex:Trade Management & Psychology
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Forex:Trade Management & Psychology

Understand the psychology behind trading and how to manage risk in trades effectively
0.0 (0 ratings)
Instead of using a simple lifetime average, Udemy calculates a course's star rating by considering a number of different factors such as the number of ratings, the age of ratings, and the likelihood of fraudulent ratings.
13 students enrolled
Created by Dirk Volschenk
Last updated 10/2016
English
Current price: $10 Original price: $150 Discount: 93% off
5 hours left at this price!
30-Day Money-Back Guarantee
Includes:
  • 2 hours on-demand video
  • 4 Supplemental Resources
  • Full lifetime access
  • Access on mobile and TV
  • Certificate of Completion
What Will I Learn?
  • 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
View Curriculum
Requirements
  • 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
Description

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.

also included are coupons to our next course. 

Who is the target audience?
  • 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.
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Curriculum For This Course
19 Lectures
02:14:24
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Introduction
1 Lecture 04:28

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:

KhweziFX STP

Markets.com OTC

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  


Preview 04:28
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Money Management
7 Lectures 48:49

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.

Preview 02:40

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. 

Preview 08:41

Protecting your position from losses or damage is a key component. Applying a stop loss is a great way to minimize big losses and manage profits.

Stop Loss Strategies
05:24

Understanding risk/reward ratios makes it easier to identify a system expectancy. It also makes sure that you don't take a trade not worth taking.

Risk & Reward Ratios
09:16

This is a great method to benchmark different systems against one another. It helps you to focus on the systems that produce better results. 

Calculating your Systems Expectancy
08:36

A trading plan is a big part of consistency in trading 

Trading Plan
01:57

Some examples of how to calculate risk when taking trades. 

Examples of Position size Calculations
12:15
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Trading Psychology
11 Lectures 01:21:07

One of the biggest killers to a traders account is The emotional part of trading. Here we take a look into how it effects your decision making and how to spot them coming up in your thinking process.

Fear & Greed, the start of failure.
08:14

Understanding that responsibility stops with you makes all the difference in preparing for your trades. 

Responsibility
04:18

Revenge trading is a dark downwards spiral to get trapped in. Be careful not to get caught up in this. 

Revenge Trading
03:28

How do you view the financial markets?

Your Beliefs about the market
07:08

One of the key things to understand about beliefs is that we can change them. we look into the process for this. 

How do we change our beliefs?
14:30

It's all about getting the edge in the market. 

Gaining an Edge
19:00

What have we learnt?
03:41

Our aim here is to get into the zone for trading.

Getting your mind and the Market in sync
05:21

What are YOUR beliefs?
08:29

Probability and your Strategy
02:53

Understanding the fundamental truths about trading will make trading much easier from a psychological aspect. It comes down to understand the core meanings of trading.

Fundamental truths about trading
04:05
About the Instructor
Dirk Volschenk
4.4 Average rating
51 Reviews
2,060 Students
4 Courses
Professional Trader and Mentor

Dirk Volschenk is an experienced lecturer and trader with 7 years experience as a professional trader in Forex and Indicies and as trading mentor to 100's of clients. Starting his career he worked as a lecturer at the same company he aced his trading education and developed quickly into a dynamic successful trader and lecturer. Dirk is passionate about the markets and trading, and this shows in the success of his clients.

In March 2012 Dirk set out and started his own company, focussing on wealth creation and trading education. And so was born The DJV Investment Group. Together with his business partner Hannes Dupper and his team, they educate and mentor clients in the ways of the markets. DJV has seen great growth in the past few years.

Dirk is a SAIFM certified lecturer and professional Trader in Forex & Indices. He has lectured 100's of clients on the markets and trading. His specialities are understanding the markets movements, trading psychology and trading strategy development.