Preschool>= Lesson Status ?
Kindergarten>= Lesson Status ?
Elementary>= Lesson Status ?
Grade 1 Support and Resistance Levels
Grade 2 Japanese Candlesticks
Grade 3 Fibonacci
Grade 4 Moving Averages
Grade 5 Common Chart Indicators
Middle School>= Lesson Status ?
Grade 7 Important Chart Patterns
Grade 8 Pivot Points
Summer School>= Lesson Status ?
High School>= Lesson Status ?
Grade 9 Trading Divergences
Grade 10 Market Environment
Grade 11 Trading Breakouts and Fakeouts
Grade 12 Fundamental Analysis
Grade 13 Currency Crosses
- What is a Currency Cross Pair?
- Crosses Present More Trading Opportunities
- Cleaner Trends and Ranges
- Taking Advantage of Interest Rate Differential
- Obscure Crosses
- Planning Around News and Fundamentals
- Creating Synthetic Pairs
- Euro and Yen Crosses
- How to Use Crosses to Trade the Majors
- How Cross Currency Pairs Affect Dollar Pairs
- Summary: Currency Crosses
Grade 14 Multiple Time Frame Analysis
Undergraduate>= Lesson Status ?
- Why Keep a Trade Journal?
- Benefits of Keeping a Journal
- What Should You Record in Your Journal?
- Potential Trading Area
- Entry Trigger
- Position Sizing
- Trade Management Rules
- Trade Retrospective
- Trading Journal Statistics
- Reviewing Your Trading Journal
- Difficulties of Keeping a Trade Journal
- Summary: Keeping a Trade Journal
Graduation>= Lesson Status ?
- Which Trading Style is Best for You?
- Which Currencies Should You Trade?
- What is Your Level of Trading Experience?
- Should You Be a Discretionary, Mechanical, or Hybrid Trader?
- What Kind of Mechanical System Suits Your Personality?
- What is Your Attitude Towards Risk?
- What Kind of Stop Suits Your Trading Style?
What is your risk capital? How much money can you trade with and afford to lose all of it?
You need to determine if you can even afford to trade.
Trading should only be done with risk capital.
Risk capital is money that you can lose.
This is the kind of money that if you lost, you wouldn't lose your home, car, spouse, limbs, electricity, etc.
Don't risk what you can't afford to lose!
If you're playing with money that you need to pay the bills, it will have a huge negative impact on your ability to make objective trading decisions.
Imagine how stressed you'll be while your trade is open knowing you might not be able to put on the food on the table if you get stopped out.
Every time a pip goes against you, you'll be thinking, "There goes tomorrow's lunch!"
You don't want to end up starving, homeless, and broke now do you?
Unless you do.
In that case, go ahead and risk all your hard-earned money in forex.
Don't be stupid!
If you can't afford to make dough in the kitchen, then you can't afford to make dough in the forex market.
Stick to demo until you really know what you are getting into!
Later on, we'll teach you all about risk management and how you should manage your capital.
While you are logged into your account,
you can save your progress in the School of Pipsology!
- What is a Trading Plan?
- Why Do you Need a Trading Plan?
- Justified vs. Unjustified
- Getting to Know Yourself
- Motivation and Goal Setting
- Risk Capital
- Lifestyle Considerations
- Daily Pre-Market Routine
- Weapons of Choice
- Stick to the Plan
- Summary: Developing a Trading Plan