COMPREHENSIVE STUDY ON FOREX TRADING

(PATHWAY TO FINANCIAL FREEDOM)

By

NOEL-UNEKE UGOCHUKWU
LEAD instructor, Noelfx global limited
08124260184
COURSE OUTLINE
PART ONE: AN OVERVIEw
¢ Forex trading is not a get quick rich scheme,
¢ My trading journey so far,
¢ Can you get rich trading forex?
¢ You must be a research,
¢ What your mentor teaches you will not be
enough,
¢ Build a career in the business,
¢ Whats your goal of coming into the game,
¢ Forex trading is just like any other
business.

Part two: INTRODUCTION TO FOREX TRADING

¢ What is forex?
¢ What is Forex trading?
¢ What is the forex market?
¢ History of the Forex trading,
¢ Forex market growth factors,
¢ Why is the Forex market so popular?
¢ Forex trading Basics that you must know
¢ Forex Trading Hours,
¢ Currency pairs,
¢ Participants In the forex Market,
¢ Why trade forex?
¢ Forex market size and liquidity,
¢ Forex market sessions.
PART Three: CURRENCY PAIRS
¢ ASSETS WE TRADE IN THE FOREX MARKET,
¢ What is a currency and currency pairs,
¢ UNDerstanding currency pairs,
¢ Currencies and their names,
¢ Why are currencies paired,
¢ Major, Minor and Exotic currencies.

PART four: TERMINOLOGIES IN FOREX TRADing

¢ Spread,
¢ Pip,
¢ Leverage,
¢ Forex Margin,
¢ Margin call,
¢ Bid and Ask Price,
¢ Forex rollover and Swap,
¢ Forex Orders and Types of orders,
¢ Quote and base currency,
¢ Unrealized profit/ loss and floating
profit/loss,
¢ Account balance,
¢ Equity,
¢ Stoploss and take profit,
¢ Lot size,
¢ Bull MARKET and Bear market,
¢ Long and short,
¢ Buy and Sell,
¢ Candlesticks
¢ Trends,
¢ currency,
 ¢ currency pairs,
¢ Trends,
¢ Trendlines.

PART Five: INTRODUCING CHART TYPES IN FOREX TRADING

¢ Line charts,
¢ Bar charts,
¢ Candlesticks charts,
¢ Hollow candles charts,
¢ Heikin Ashi candle charts,
¢ Area charts,
¢ Baseline charts,
¢ Renko Charts,
¢ Line break Charts,
¢ Kagi Charts,
¢ Point and figure charts,
¢ Range charts.

PART six: ANALYSING CANDLESICK charting type

¢ What is candlestick,
¢ History of candlestick,
¢ Candlestick patterns.
¢ Psychology behind candlestick patterns

Part seven: Market analysis

¢ THREE TYPES OF MARKET ANALYSIS,
¢ Technical analysis,
¢ Fundamental analysis,
¢ Sentimental analysis,
 ¢ When to trade forex and when not to trade
forex.

PaRt eight: market structure

¢ What is MARKET STRUCTURE,
¢ Understanding the behavior of the market
¢ SUPPORT AND RESISTANCE,
¢ Supply and demand
¢ Trend and types of trend,
¢ Multi timeframe analysis,
¢ Top down analysis and bottom top analysis,
¢ Psychology behind the market structure.
¢ Psychological levels

PART NINE: TRENDLINE AND simple chart patterns

¢ Trendline,
¢ Types of trendlines,
¢ Psychology behind trendlines,
¢ Simple trendline patterns.

Part ten: forex TRADING PLATFORMS

¢ Dailyfx,
¢ Investing.com,
¢ Tradingview.com,
¢ Metratrader 4 and 5 (computer)
¢ Mobile metatrader 4 and 5,
¢ Ctrader,
PART ELEVEN: FOREX TRADE BROKERS
¢ Forex Trade Brokers,
¢ Types of Forex Brokers and true comparison,
¢ Truth about Forex Brokers,
¢ Regulation in Forex Trading,
¢ Dirty Practices of Forex Brokers that Cost
you profits,
¢ How to choose the best Forex Broker,
¢ How do Forex Market Makers Work?
¢ The hard reality how the vast majority of
ECN and STP brokers work,
¢ Hidden, yet regular forex trading costs,
¢ Regulation on forex, what does it mean for
brokers, IBs and strategy providers?
¢ Forex no deposit bonus.

PART TWELVE: FOREX TRADING PLAN

¢ Forex Trading Plan,
¢ Researching in Forex Market,
¢ Using the stoploss and Take profit in the
forex market,
¢ Forex Demo account vs Real Account,
¢ Forex Trading Platform,
¢ Why is backtesting important for any Forex
trader,
¢ How much should I start with to Trade Forex?
¢ Forex as a main source of income- How much
do you need to deposit?
¢ Why you need to keep a trading journal,
¢ What is forex Scalping,
 ¢ What is Forex Swing Trading?
¢ How to Choose a Forex Trading Platform,
¢ Popular Forex Trading Platforms,
¢ Forex Mobile Trading,
¢ Traders listen to the price, analysts look
for explanation later,
¢ The Opportunities with Forex Trading,
¢ What is Intraday trading?
¢ Trading Forex for a living,
¢ Trading ahead of the Rest: how to predict
the Forex Market,
¢ Tips to be a Successful Forex Trader,
¢ How to start Trading Forex with just $100.

Part thirteen: Types of traders and trading style.

¢ Swing trader,
¢ Fundamental trader,
¢ Technical trader,
¢ Day trader,
¢ Scalper,
¢ Arbitrage trader,
¢ Position trader,
¢ Scalping trader,
¢ Noise trader,
¢ Sentimental trader,
¢ Contrarian traders,
¢ Market timer,
¢ Momentum trader,
¢ Intraday trader,
 ¢ Price action trader,
¢ Algorithmic trader,
¢ Event driven trader.

Part fourteen: skills of traders

¢ Adaptability,
¢ Analytical thinking,
¢ Decision making skills,
¢ Numeracy skills,
¢ Risk management.

Part fifteen: PSYCHOLOGY IN FOREX TRADING

¢ The Complete Guide to Forex Trading
Pyschology,
¢ Forex Trading Psychology Basics,
¢ Forex Psychology: Developing a successful
forex mindset,
¢ The Forex Psychology and Traders’ comForT
Zone,
¢ Psychology behind following a forex trading
system,
¢ Importance of being a disciplined trader in the
forex trading,
¢ Avoiding forex trading systems pitfalls,
¢ Forex Trading Pschology: The Borderline
between a trading plan and emotional
outbursts,
¢ Developing the psychology of a successful
trader,
 ¢ Free yourself from fear-eliminate worry in
forex trading,
¢ Stop looking for the perfect forex indicator
and focus on the winning process,
¢ Do your best to analyse the market and let go
of the outcome,
¢ Be patient for the great opportunities to make
money in forex trading,
¢ Forex tip- Break the confirmation bias and
avoid losses in trading,
¢ Taking a break from trading can get you out of
flow
¢ How do forex traders live?

Part sixteen: RISK MANAGEMENT

¢ The complete forex money management guide,
¢ Professional forex risk management,
¢ RISK TO REWARD RATIO,
¢ 8 tips on how to manage risks in forex trading
like a pro,
¢ Drawdowns,
¢ Money management in Forex trading: Adding to
winners and trimming down losers in trend
trading,
¢ Why the risk reward ratio is important
PART seventeen- PLANNING AND PREPARING FOR
TRADING SUCCESS
¢ Set Yourself Up for Success,
¢ IT’s down To you,
¢ Fuelling Success – Motivation and Commitment,
¢ Develop a Compelling Vision of Trading Success,
¢ T.R.A.D.E. to Success–Goal Achievement
Strategies,
¢ Know Who You Need to Become,
¢ Find Your Magic – Developing Your Trading
Strategy,
¢ Identify Your Critical Performance Factors,
¢ Be P.R.E.Pared!,
¢ Create a High-Performance Environment.

Part Fifteen – Decision-Making, Discipline and

Flawless Execution
¢ Discipline and Your Ideal Trading State,
¢ Deal With Distraction – Refocussing Strategies,
¢ Stay Calm When the Pressure is On,
¢ Get Energised – Manage Your Energy Levels,
¢ Run Your Profits, Cut Your Losses,
¢ Handle Losses Like a Winner,
¢ Parking Errors – Dealing Effectively With
Mistakes,
¢ Be Wary of Overconfidence,
¢ Deal With Negative Emotions Positively,
¢ Embrace Risk and Uncertainty,
¢ Pull the Trigger – Overcome Hesitation and
Fear,
 ¢ Understand That More is Not Always More,
¢ Transform Adversity Into Challenge,
¢ When Times Are Great, Keep Them Great.

Part Sixteen – Evaluation, Analysis and Improving

and Sustaining Performance
¢ Learn More – Keep Getting Better,
¢ Know Your Score – Measuring Trading
Performance,
¢ Develop Winning Routines and Rituals,
¢ Build Resilience,
¢ Manage Stress,
¢ Achieve Balance,
¢ Plan Your Growth,
¢ Generate New Trading Behaviours,
¢ Utilise Your Strengths and Successes,
¢ Mind Your Language,
¢ Be Persistent!

Part seventeen: further readings and researches

PART eighteen: STRATEGIES IN FOREX TRADING

¢ Supply and Demand Institutional Orderflow,
¢ Top down Trendline Breakout,
¢ Correlation Strategy.

PART nineteen: SETTING UP OF TRADING PLATFORMS

¢ Metatrader 4 and 5,
¢ Tradingview
PART twenty: PRACTICALS
¢ analyzing underlying assets,
¢ start trading in a demo account,
¢ GROW A DEMO ACCOUNT FROM $100 to $200.
¢ GRADUATE AND BECOME A PROFESSIONAL TRADER

PART TWENTY-one: PROP FIRM TRADING

¢ What is a prop firm,
¢ The idea behind prop firm trading,
¢ Choosing a right prop firm
¢ How to verify and know prop firms that are
legit,
¢ How to pass a prop firm challenge,
¢ Maintaining long term profit.

PART twenty-two: $169,000 one year project

Noel-uneke ugochukwu
Lead instructor, noelfx global limited
08124260184