Forex Trading: Your Complete Guide By Ken Chan

An effective 6-step approach to master forex trading and to unlock your true potential in the forex market

What you'll learn

You will gain a solid and comprehensive understanding of the forex market, including its development and operations.

You will learn a 6 step methodology in trading forex to achieve maximum and sustainable gain with minimum risk exposure.

You will grasp the concept of fundamental analysis and learn how to analyze important economic indicators and news to assess their impact on currency prices.

You will learn the techniques of technical analysis including identifying trends, chart patterns and utilizing technical indicators to analyze price movement.

You will gain a thorough understanding of risk management principles and strategies in forex trading, including setting stop loss levels and position size.

You will learn some useful techniques in the execution of trades to maximise profits and to minimize risk exposure.

Requirements

No prior experience is required. You will learn everything you need to know.

Description

This course is designed to equip you with the comprehensive knowledge and skills needed to navigate the exciting world of foreign exchange trading. Whether you are a complete beginner or an experienced trader looking to enhance your strategies, this course offers a step-by-step approach to understanding and mastering the forex markets and is meticulously designed to equip you with the knowledge and strategies needed to conquer the forex market and unleash your true trading potential. This course contains 8 chapters altogether as follows:Chapter 1 - Introduction: In this introductory chapter, I lay the groundwork and foundation for your journey into the exciting world of forex trading. I begin by providing a comprehensive overview of the foreign exchange market, its history and development such as the Gold Standard, Bretton Woods System, the European Monetary System and the Euro, Floating Exchange Rate System, Linked Exchange Rate System and the Plaza Accord, its operations and terminologies used in the industry and its related financial products and tools in the market. I will also go through my 6-step approach to master forex trading known as "FUTURE" methodology which is the acronym for the beginning letter of each of the 6 steps described in the later chapters, namely Fundamental Analysis,  Unbiased Prediction, Technical Analysis, Unique Identifiers, Risk Management and Execution. Chapter 2 - Fundamental Analysis: In this chapter, we explore fundamental analysis which is a key component of successful forex trading. Fundamental analysis involves the evaluation of economic, political and social factors that influence currency prices. By understanding the fiscal policy, monetary policy, trade and capital flow and economic performance indicators such as employment figures, national income data, consumer figures, you can make informed trading decisions based on the underlying value of a currency. Chapter 3 - Unbiased Prediction: In this chapter, we form a prediction of the overall direction of the forex market based on the fundamental analysis performed and to identify a few currency pairs which can potentially produce the highest odds of success in our forex trading. Chapter 4 - Technical Analysis: In this chapter, we delve into the fascinating world of technical analysis, a powerful tool for understanding market trends and marking informed trading decisions. Technical analysis involves studying historical price and volume data to identify patterns and trends that can help predict future price movements. We will learn key concepts such as support and resistance levels, trend lines and chart patterns such as Flag, Triangle, Wedge, Rectangle, Head and Shoulders, Triple Top/Bottom, Double Top/Bottom, V-Formation and Rounded Top/Bottom patterns. We will also cover some of the major key technical indicators including Moving Averages, Relative Strength Index (RSI), Wave Theory, Wave Counting Rules, Bollinger Bands, Fibonacci Sequence and the Golden Ratio. Chapter 5 - Unique Identifiers: In this chapter, we use a combination of a set of technical indicators as our unique identifiers to determine the exact point of entry and exit of a particular currency pair which would provide us with the highest odds of success in our trading. We will wait for the entry signals to appear before we enter into the market and we also set the key target and stop loss level in exiting the trade.Chapter 6 - Risk Management: In this chapter, we discuss the various types of risks commonly found in forex trading and exploring ways to control the risks. Understanding and implementing effective risk management strategies is essential for protecting capital and provide long term sustainable profits in our trading. Chapter 7 - Execution: In this chapter, we focus on practical aspects of implementing investment strategies and turning ideas into actions. Effective execution is crucial for achieving desired outcomes and maximizing the returns on your trading. Real-life examples will be shown. Chapter 8 - Conclusion: In this chapter, we wrap up and summarize on what we have learnt in the course.

Overview

Section 1: Introduction

Lecture 1 What is Forex

Lecture 2 Forex Market Development

Lecture 3 Forex Market Operations

Lecture 4 Foreign Exchange Rate

Lecture 5 Currency Futures & Options

Lecture 6 Money Markets

Lecture 7 Leveraged Forex Trading

Lecture 8 “Future” Trading Method

Section 2: Fundamental Analysis

Lecture 9 Fiscal Policy

Lecture 10 Monetary Policy

Lecture 11 Economic Performance

Lecture 12 Trade and Capital Flow

Section 3: Unbiased Prediction

Lecture 13 Objective Analysis

Lecture 14 Important Indicators

Lecture 15 What to Trade

Lecture 16 Formulating Prediction

Section 4: Technical Analysis

Lecture 17 Charts

Lecture 18 Trends

Lecture 19 Patterns

Lecture 20 Technical Indicators

Section 5: Unique Identifiers

Lecture 21 Entry Signals

Lecture 22 Setting Exit Points

Section 6: Risk Management

Lecture 23 What is Risk Management

Lecture 24 Types of Risks

Lecture 25 How to Control Risk

Section 7: Execution

Lecture 26 Selecting Forex Broker

Lecture 27 Setting Up

Lecture 28 Multiplying Effect

Section 8: Conclusion

Lecture 29 Summary

Lecture 30 Final Remarks

This course is ideal for both beginner and experienced forex traders who would like to generate sustainable profits over time with minimum risk exposure.