Beginner to Advanced Trader - Investment Banking Perspective
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Beginner to Advanced Trader - Investment Banking Perspective

Four Pillars of Trading - Trade Analysis, Technical Analysis, Fundamental Analysis, Central Bank's Monetary Policy
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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.
17 students enrolled
Created by Mikesh Shah
Last updated 9/2017
English
Price: $120
30-Day Money-Back Guarantee
Includes:
  • 14 hours on-demand video
  • Full lifetime access
  • Access on mobile and TV
  • Certificate of Completion

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What Will I Learn?
  • Trade the Forex market with increased confidence
  • Apply Technical strategies in any markets
  • Apply Fundamental strategies in any markets
  • Understand economic principles related to trading
  • Use economic indicators to try and predict central bank policies
  • Understand how central banks monetary policy works to predict the markets
View Curriculum
Requirements
  • Must be passionate about trading to put in the hard work, trade with discipline, and complete the training
  • Web based FX simulator requires basic internet connection and pc
  • The Fundamental Analysis Impact Analysis section requires knowledge of economic indicators. For those not conversant with economic indicators there is a coupon for the Tradeonomics course that teaches the basics of economic indicators and their impact on the markets
Description

Please read the complete course description, watch the intro video and free preview videos before taking this course. Thank you.

There are two terms we used in the title - "An Investment Banking Perspective" and "The Four Pillars" that need to be explained in more detail. 

The Investment Banking Perspective - Many courses in trading are taught from the perspective of a retail trader who is a few layers away from the "core" of the FX markets. In the OTC foreign exchange market, the market makers or price makers on the interbank desk are at the core of the action. To understand the Forex market "under the hood", we need to learn what the market makers know. To play the game at a level playing field we need to acquire their same skills. 

This course teaches with that perspective, the strategies used by market makers to trade the markets. By mixing fundamentals, technicals, money management techniques and gaining the knowledge of how central bankers determine the monetary policy - by the end of the course you will have acquired the knowledge and techniques used by investment bankers in trading vanilla financial markets.

Why we consider this course to be a "complete" trading course - The Four Pillars of Trading any Market

There are traders who use only technicals for trading, traders who use only fundamentals for trading and those that use both. Both technicals and fundamentals have their merits and demerits, which we shall compare. When we take positions in a FX simulator we will make a very strong case that by using both tools our profitability increases. We also become more aware of what the big players or "strong hands" are looking for. 

What we strive for in this course is to gain the knowledge of the "strong hands". In FX, commodities, stock trading the strong hands are those that have all the skills, technology, training, and many more tools that assist them in their decision making process. 

So how does the lone trader compete with the "strong hands" in this complex integrated financial system? The answer is 

  1. Acquiring the skills - FX transaction analysis, Technicals, Money Management, Fundamental Analysis and Central Bank's Monetary Policy
  2. Multiple trades - Make hundreds of mock trades on a simulator.  We will see how to in this course so that you treat winning and losing with the same indifference.
  3. Join a community - Join a FB page where traders can share ideas/strategies across regions
  4. Technology - there are some powerful free technologies that we shall use in this course and more powerful paid ones.

Curriculum

Four essential skills for any trader - 

  • The complete math - we learn how to price FX outrights, FX swaps, carry trades, covered and uncovered interest arbitrage, the complete FX lifecycle right from pre-trade to settlement to reconciliation and more.
  • Technical analysis - The FX Landscape to get a macro picture, Basic theory such as the Dow theory, trends, trendlines, speedlines, channels, Fibonacci retracements, continuation and reversal patterns, moving averages, oscillators, contrarian theory, and more
  • Trading strategies (part of technical analysis) - money management (Not MPT), but prudent strategies related to FX trading
  • Fundamental Analysis - economic indicators related to GDP, inflation and their workings; how to use these indicators practically for trading by creating an impact analysis spreadsheet and using this data for taking positions
  • Central bank's monetary policy - how the central banks determine their monetary policy to influence short term interest rates and the economic indicators they follow. (we will add these as bonus lectures as the scope is vast)

Once we arm ourselves with these four pillars we should be able to gain a "complete" picture of the trading environment.

Who is course is designed for - If you're looking at investment banking as a career, or you are a retail / corporate trader who is looking at deeper insights to how the FX OTC market functions then this course is ideal for you. If you are a stock , commodity, or bond trader and looking to implement what's taught in this course then the first section on FX math may or may not be of interest to you. However you could easily use the same principles of technicals, trading strategies, fundamentals and central bank sections for the markets of your interest. This course could also be relevant to those trading cryptocurrencies and want to trade other currencies.

Indicative timelines

Week 1 - Quickly move through the basic math and move to the more advanced topics. Begin mock trading even if you don't have any views. Join the community of traders on Facebook.

Week 2 - Understand the best practices of technical analysis and begin implementing them in your daily trading.

Week 3 - Create your impact analysis spreadsheet and start mixing techs and fundamentals in your daily trading

Week 4 - Understand central bank's monetary policy determination (added as a bonus section)

For those who are not familiar with economic indicators there is a coupon inside for the Tradeonomics course as a bonus for making it to the fundamentals section.

Request for Review

Please also take the time and effort to leave a honest review that would benefit your fellow students and any constructive feedback would be appreciated.

If you do take this course please participate on the FB group, course discussions, make hundreds of trades on the simulator - win or lose. 

If you need further information you could write to me at mikesh@algmx.com

Hope you enjoy and look forward to seeing you in this journey to becoming a sound disciplined trader.

In the words of Rudyard Kipling...

"If you can meet with Triumph and Disaster

    And treat those two impostors just the same;   

If you can bear to hear the truth you’ve spoken

    Twisted by knaves to make a trap for fools,

Or watch the things you gave your life to, broken,

    And stoop and build ’em up with worn-out tools:

If you can make one heap of all your winnings

And risk it on one turn of pitch-and-toss,

And lose, and start again at your beginnings

    And never breathe a word about your loss;

If you can force your heart and nerve and sinew

    To serve your turn long after they are gone,   

And so hold on when there is nothing in you

    Except the Will which says to them: ‘Hold on!’...."

Rudyard Kipling, IF



Who is the target audience?
  • Students interested in investment banking as a career
  • Students wanting to master Foreign Exchange trading
  • Retail traders who want a different perspective of the markets
  • Corporate traders seeking to improve their trading skills
  • Forex traders looking for a different perspective
  • Bond, Stock, Commodity traders who wish to apply technical and fundamental principles in their markets, although primary focus is FX
Compare to Other Forex Courses
Curriculum For This Course
130 Lectures
13:50:35
+
The Complete Forex Trading Course - Introduction
1 Lecture 13:15

The complete course outline, target audience, objectives

Preview 13:15
+
Week 1 - Foreign Exchange Math Basics
6 Lectures 30:50

Basics on exchange rates quotation

Exchange Rates
08:01

What are direct or indirect methods of quotations?

Direct vs Indirect Rates
02:08

What bid and ask quotes and spreads are in the perspective of the market makers and price takers. What side to buy or sell and how to trend prices.

Bid, Ask, Spreads and Perspective
05:06

Calculating cross rates using mid rates

Cross Rates Calculation - Method 1
04:08

Calculate cross rates using bid and ask side

Cross Rate Calculation - Method 2
08:57

Recap theory learnt so far

Rates Recap
02:30

Basics of FX quoting you must know

FX Basics
2 questions
+
Week 1 - The FX Transaction Lifecycle
9 Lectures 36:49

Understanding the FX Transaction Lifecycle

The FX Transaction Lifecycle Introduction
02:28

The decision making process before making the trade

Pre-Trade
05:47

How FX is traded in the interbank OTC markets

The FX trade - Interbank Perspective
04:39

Once the deal is done the transaction details flow to the backoffice

The FX Trade - Back Office Perspective
04:12

How transactions are confirmed between two counterparties

FX Trade Confirmation
04:01

The settlement process overview

The FX Settlement Process
03:10

CLS - Continuous Linked Settlements

The FX Settlement Process -2
05:00

Last step of the FX transaction Lifecycle

Account Reconciliation - The final step of the settlement process
04:06

Join the FB Group and start mock trades

Action Items
03:26
+
Week 1 - Outright Forwards
5 Lectures 28:31

Intro to slightly more advanced topics of - Outrights, FX swaps and how to price

FX Tenors - Intro
04:16

How outrights are quoted

Outright Forwards
04:39

How outrights are priced using spot rates and FX swap rates

Outright Forwards - 2
07:10

Calculating outright forwards - USDJPY example 

Outright Forwards - JPY Solution
03:13

Outright forward uses

Outright Forwards - Conclusion
09:13

A British company imports 10 million pounds of goods from the US. Payment is due 1 month from today. 

The C/S rate is 3/4

1M rate is 32/33

Spot rate is 1.3030-31

The company asks you for a price to hedge its imports. What rate would you quote the importer?

Outright Forwards
2 questions
+
Week 1 - FX Swaps, Carry Trades, Covered/Uncovered Interest Arbitrage Pricing...
9 Lectures 58:17

Introduction to Foreign Exchange Swaps

FX Swaps Introduction
06:42

Pricing FX swaps using the No Arbitrage Model used to price derivatives

Preview 05:12

How to determine premiums and discounts in FX swaps

FX Swaps - Premiums, Discounts
04:49

Pricing an FX swap using the No Arbitrage Model

Preview 04:42

Use Cases of FX swaps eg. Money markets and FX swaps arbitrage

Preview 05:46

How to initiate a carry trade

Carry Trades
09:31

Conducting an arbitrage by covering your FX position risk

Covered Interest Arbitrage
03:08

How FX swap traders play the yield curve

Yield Curves
10:05

Calculating FX swap points for broken dates

Broken Dates
08:22

Test your basic knowledge on the FX swap markets

FX Swaps
2 questions
+
Week 2 - Technical Analysis of the Markets - The FX Landscape
11 Lectures 35:31

Before starting Technical analysis understanding the landscape is beneficial

The FX Landscape - Intro
01:26

Get a perspective on the volumes done by currency pairs

Volumes by currency pairs
03:29

Volumes by spot, outrights, FX swaps

Volumes by Instruments
03:18

Volumes by region - Asia, Europe and North America

Volumes by Geography
03:28

Understand the various players in the market

Market Participants
03:15

Volumes done by various players

FX Market Participants Volumes
04:20

Volumes done by Financial Institutions

Market Participants - Financial Institutions
03:42

Volumes done by Corporate and Retail traders

Market Participants - Corporate and Retail
03:03

Algo trading - a brief intro

Market Participants - Algorithmic Trading
04:14

FX Action Item -1
02:46

FX Action Item - 2
02:30
+
Week 2 - Technical Analysis of the Markets - Basic Theory
4 Lectures 23:05

The most important tool in trading - technical analysis

Intro to Technical Analysis
03:42

Technicals, fundamentals or both?

Technicals vs Fundamentals
04:59

Basic tenets of Dow theory. The foundations of technical analysis

Dow Theory
05:16

How price charts are formed

Chart Types
09:08
+
Week 2 - Identifying Trends
4 Lectures 28:21

A trend is your friend. Identify long, medium, short term trends

Identifying Trends
08:31

Best practices of drawing trendlines

Drawing Trendlines
04:07

USDJPY trends

USDJPY Example
09:49

Different types of price gaps

Price Gaps
05:54
+
Week 2 - Continuation Patterns
3 Lectures 14:08

Intro to patterns that determine a trend is continuing

Continuation Patterns - Introduction
04:23

Long term continuation patterns

Long Term Continuation Patterns
04:37

Shorter Term Continuation Patterns
05:08
+
Week 2 _ Reversal Patterns
9 Lectures 01:02:28

Introduction to trend reversal patterns

Reversal Intro
02:48

Reversal Days, Key Reversal Days

Reversal Days
04:57

The most popular reversal pattern - The head and shoulders reversal pattern

Preview 06:14

The inverse head and shoulders continuation pattern

Inverse Head and Shoulders
06:07

Differences between the reversal HnS and the continuation HnS

Head and Shoulders Continuation
02:42

Double tops, double bottoms and spikes. Commonly found reversal patterns

Double Tops, Double Bottoms, Spikes
05:44

Taking positions using technical knowledge

USDJPY Technical Trade
11:00

Taking USDJPY positions in the simulator

USDJPY Transaction
09:18

More insights on USDJPY position

USDJPY Position Squaring
13:38
10 More Sections
About the Instructor
Mikesh Shah
3.6 Average rating
41 Reviews
3,047 Students
3 Courses
Investment Banker, IT Consultant

I've completed a Bachelor of Computer Engineering and a MBA from Queen's University Canada. I've worked 8 years in the investment banking division and 11 years in Oracle Financial Services Software Ltd as an IT and banking consultant. During my stint at Oracle I've worked in various projects -  at the IMF in Washington, built trading systems at an investment bank in London for the algorithmic trading desk, implemented a complex core banking software system at banks such as Bank of Montreal, Wells Fargo.