Forexism

Intro

Types of trading markets:

Mainly Forex & Futures..

Differences between Forex & Futures
Forex …..

Foreign exchanges.
Runs 24 hrs a day.
Five days a week.
Good for small account sizes.
Cons
Unregulated brokers
Brokers hidden fees.
Moves fast

Futures trading….
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Pros:

Cons:

Terms

Terms
Bullish candle stick(green) -> price went up
Bearish candle stick(red) →price went down

Retracement.

Support and resistance zone

Main trading items

Main trading items

Forex:

Futures:

Trading sessions.

Analysis methods

There are two

  1. Fundamental analysis(The news..)
  2. Technical analysis(Using website.. Use prevous data..(tradingview.com & https://www.forexfactory.com/))

Candle sticks

Candle sticks

Bullish candle stick.

Blue in color.
Price started at the bottom..
And price ended at the top of the body.

Bearish candle stick.

Red in color.
The top of the body is where price started at.
The bottom of the body is where ended at.
(Like an inverted bullish candle stick.)

The wicks.

Show where price was at the specific time.

Haikenashi candle sticks.

Smooths out price and charts.
The bottom of a boddy of the haikenashi sticks start from half the previous stick.
The top of the candle stick is also the place where the average price has been.
The wick is where price has been.
You cannot read the hammer , shooting star , bullish or bearish engulfing from the haekenashi sticks, only doji’s.

The story of candle sticks .

Candle stick patterns for recognising support or resistance zone.
Long wicks show price is scared of where the price is.

Shooting star.
Hammer.
Doji.
Bullish engulfing.
Bearish engulfing.

Shooting star.

Shooting star.

Also the inverted/ inverse hammer.

Characteristics.

Long wick at the top
Small body
A small or no wick at the bottom of the candle stick.

What they predict

They mean most likely the price will continue to go down.

Hammer

Hammer candle stick.

The opposite of a shooting star.
Long wicks show price is scared of where the price is.

Characteristics.

Long wick at the bottom
Small body
Little or no wick at the top.
Body at the top of the stick.

What they predict

Price is most likely to go up.

Doji

Doji.

Characteristics

Wicks at the top and bottom, not exactly equal but similar in length in some way.
Skinny small body.

What they predict

Price is most likely to inverse.
If price was down it will go up.
If price was up it will go down.
Shows indecisiveness in the market.

In short : they shown when we are about to have a reversal.

Bullish engulfing

Bullish engulfing.

I pasted the transcript here did not take meaningful notes innit.

a bullish engulfing. There's also bearish engulfing. But all that means is that the candlestick before it, the candlestick after that one is bigger
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1 hour, 26 minutes, 28 seconds
than the candlestick before it. And that basically means that this candlestick um let's say in this example, we had a red candlestick and then a bullish candlestick or a green candlestick after
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1 hour, 26 minutes, 36 seconds
that that's bigger than the previous one. that basically signifies that the next candlestick is probably going to continue to go up. Now, vice versa, if
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1 hour, 26 minutes, 44 seconds
this was a big or if this was a small green candlestick and we had a bigger red candlestick, that's called a bearish engulfing. Um, all that really means is
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1 hour, 26 minutes, 53 seconds
that the current candlestick engulfed or kind of how I like to think about it, y'all bear with me. I have I have the learning capabilities, not learning
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1 hour, 27 minutes, 2 seconds
capabilities, but I like teaching in ways that kids can understand. So what engulfing means is like the current candlestick can basically eat the other
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1 hour, 27 minutes, 10 seconds
candlestick. So in this example, the green candlestick is bigger than this one. So this one it can engulf it can eat this candlestick, which tells us that this candlestick wins and the next
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1 hour, 27 minutes, 19 seconds
candlestick is probably going to be um bullish. Then vice versa, if this candlestick was green and then this candlestick was red, that's a bearish
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1 hour, 27 minutes, 27 seconds
engulfing. So, the bearish candlestick can technically eat the previous bullish candlestick, which means that we're probably going to get another bearish candlestick to the downside. So, these
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1 hour, 27 minutes, 35 seconds
are the main ones that I look for. Um, shooting stars, hammers, like I said, I like to call shooting stars inverted hammers. Personal preference. Uh, but
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1 hour, 27 minutes, 44 seconds
shooting star, hammer, dogee, bullish engulfing, and bearish engulfing. Now, let's let me show you guys some examples of these. So, perfect example with these
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1 hour, 27 minutes, 52 seconds
support zones that we had previously drawn out. As you see, we originally drew our support zone right here. We had gotten a hammer. This is a hammer. Long
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1 hour, 28 minutes, 1 second
wick on the bottom, small body at the top, and a small wick at the top. And price rejected to the upside. Then we drew a support zone. And when price
1:28:10
1 hour, 28 minutes, 10 seconds
tapped back into this area, what do we get? We got another hammer here. Long wick at the bottom, small body at the top, and a small wick, which signified,
1:28:19
1 hour, 28 minutes, 19 seconds
if you guys look at right after this hammer candlestick, price went up. Right after this hammer candlestick, price went up. Um there's a bunch of examples
1:28:28
1 hour, 28 minutes, 28 seconds
of um other things that we just went over. We just went over a bullish engulfing. We see we had small red candlestick that was engulfed by this
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1 hour, 28 minutes, 36 seconds
green uh bullish and candlestick. And you see price continued to go up. We can see a bunch of examples of this. We see
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1 hour, 28 minutes, 45 seconds
this one right here. We had a small green candlestick. We had a bearish engulfing. This candlestick was bigger than this candlestick. Bearish
1:28:52
1 hour, 28 minutes, 52 seconds
engulfing. and the next candlesticks ended up going down. We can see a bunch of examples of dogeis. So you see we
1:28:58
1 hour, 28 minutes, 58 seconds
have here a inverted hammer or a shooting star long wick at the top, the body at the bottom. Let me turn this
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1 hour, 29 minutes, 6 seconds
off. Uh the body at the bottom and then a small wick at the bottom. You see that is a resistance zone and it sold down.
1:29:13
1 hour, 29 minutes, 13 seconds
And then you see we were continuously selling down, selling down. And look what we have here. We have a dogee candlestick. Remember, Ad Doia is wicks
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1 hour, 29 minutes, 22 seconds
at the top or the bottom. They don't have to be the exact same length, but you don't want one where it's super small on the bottom and big on the top.
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1 hour, 29 minutes, 29 seconds
You want it where they're close enough in um length as far as the wick wise.
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1 hour, 29 minutes, 33 seconds
Then obviously the body is super uh small. So you see we were going down, we continuously were going down, down,

Key levels

Key levels
Identifying and drawing key levels.

Drawn on change of direction zones.

Think of them like strong resistance and support zones(How i will understand them .. my interpretation), basically where the market shifted the direction it was going at.

Support & Resistance Zones

Support & Resistance Zones

Retesting → When price goes above or below a support or resistance zone.
when price breaks out of a support or resistance zone and breaks out all that means is that it goes above our in this
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1 hour, 36 minutes, 14 seconds
case resistance zone. Price most of the time comes back and we call it retesting. Price comes back down to
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1 hour, 36 minutes, 21 seconds
retest a previous resistance zone and actually ends up treating that as if it's a support zone. So that previous resistance zone actually flips and
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1 hour, 36 minutes, 29 seconds
changes into a resistance zone. Sorry, into a support zone. Same thing vice versa. If price sells below our support
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1 hour, 36 minutes, 36 seconds
zone, a lot of times price will come back up to retest the previous support zone and that then acts as a resistance zone and we can sell off of that area.
1:36:46
That's something that a lot of people don't know and that's actually one of the main strategies that I use. Like I said, we're going to go in depth in the strategies that I use in a second here,

Use the 1 hour or 4 hour time frame to draw out support and resistance zones.

Support Zones

Resistance Zones

Key levels.

Types of traders

Types of traders

Scalper

Profit off of small price changes and making a fast profit.
It is fast paced.
In for a trade for between a few seconds to 10 minutes.

Intraday

Day-trading.
Holds trade for 1-24 hours ,not usually going over a day or 2.

Swing

Holds their trade for long periods of time.
Tends to hold trade for days, weeks or even months.

Market Phases

Market Phases

Consolidating Phase

Consolidating Phase

Price stays within a specific range(within a support and resistance zone.)

Trending Market Phase

Trending market phase

The market either trends up or down continuously.

Breakout Phase

Now breakout breakout um sessions or broke breakout markets are very very similar to trending
2:04:26
2 hours, 4 minutes, 26 seconds
markets. But what you'll see a lot is in breakout markets is that we'll have a bit of consolidation and then a huge breakout, then a bit of consolidation
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2 hours, 4 minutes, 35 seconds
and a huge breakout. Bit of consolidation and a huge breakout.
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2 hours, 4 minutes, 39 seconds
That's typically how breakout markets work. And these are great for anybody that's trading any type of breakout strategies or someone that is trading
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2 hours, 4 minutes, 47 seconds
support and resistance because a lot of times on that pullback, it'll consolidate. So, it's kind of trending markets and consolidating markets put together. You can find really, really
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2 hours, 4 minutes, 55 seconds
good opportunities during these type of markets. Um, but you can find good opportunities in all type of markets.
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2 hours, 5 minutes, 1 second
It's just you have to be aware of the type of market that you're in because you cannot trade the exact same that you were trading in a consolidating market when we're now in a trending market.
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2 hours, 5 minutes, 10 seconds
Same way you can't trade the same when we're in a breakout market as you were as you would t

Indicators

Indicators

I can vibe code an indicator for drawing out key levels..

Kill zone

Vwap

When the vwap is above where the candle sticks are, look for sell opportunities since it means majority of the day price has been going down.

Strategies

Strategies
Draw the box from top of the wick to the highest body

Ultimate support and resistance strategy

Ultimate support and resistance strategy

1 hour or 4 hr time frame.

Aim for a more than 1.1 profit ratio.

Squeeze strategy

Squeeze strategy(For breakout traders)

Pullback strategy

Pullback strategy.

This strategy uses haikenashi candle sticks.
Uses the one minute time frame.
See at least two clean pullbacks.(Signified by at least two haike neshi candle sticks with no wicks at the bottom and wicks at the top) for buys. For sell vice versa(ai write down the vice versa for me.)

At the market turning point get into trade if the doji(which shows a reversal in market trend) is bigger in size than the two or three stick before that one/ has a high volume.
Put the stop loss above the doji candle stick and always/recommended to go for a 1 to 1 Risk/Reward ratio.

Emphasis on moving from a clean candle stick to a high volume doji stick!!.

Back testing

Back testing

Trading plan

Trading plan

Brokers & Platforms

Brokers & Platforms

Difference between brokers and platforms.

tradelocker.com
tradovate.com

General

General

Buy is betting on price going up
Sell is betting on price going down.

Core principles.

  1. Take only A + setups
  2. Trading less means making more.
  3. Follow the trend
  4. Follow a proven plan
  5. Journal everything
  6. Have a set plan for every trade
  7. Have a strict set of rules
  8. Dont be afraid to pay yourself
  9. Dont try to flip accounts
  10. Be patient and wat for your entry
  11. Trust your trade
  12. Enter your trade and walk away.
  13. Dont over leverage

Futures contracts

Futures contracts

Contract size -
Margin requirements - amount of money required in your account to purchase 1 contract.
Buy/Sell contracts - Buy = Going low Sell= Going short
Month codes - january(F), february(G), march(H), April…….. Change every quarter.Trade the one closest to expiring.

Types of futures contracts

Futures

Proper risk management

Proper risk management

Prop firms

Prop Firms

Defination :

Benefits of Prop Firms.

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