FOREX TRADING STRATEGY | Daksh Murkute | Skillshare

FOREX TRADING STRATEGY

Daksh Murkute

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10 Lessons (1h 1m)
    • 1. Introduction.

      4:04
    • 2. Why Forex Market Moves.

      3:10
    • 3. HOW DOES FOREX MARKET MOVES.

      7:32
    • 4. WHAT IS SUPPORT AND RESISTANCE ?

      7:46
    • 5. HOW TO DRAW SUPPORT AND RESISTANCE

      4:06
    • 6. WHAT IS DIVERGENCE?

      8:35
    • 7. THE STRATEGY

      9:29
    • 8. RISK AND TRADE MANAGEMENT

      6:29
    • 9. Examples

      8:46
    • 10. IMPORTANT MESSAGE.

      1:20
47 students are watching this class

About This Class

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In this class i have explained the mechanism of forex market correctly and i have also shared a nice and profitable forex trading strategy. No trading strategy will earn you money without a risk management plan, so i have also shared a risk management plan.

I hope you all enjoy the class.

Transcripts

1. Introduction.: If you go out in the market searching for a forex trading side, they always tell you that wind rate is the most important part. And this is why the whole market is selling their strategy based on 100 like 80% win rate, 90% 100. And I have seen people claiming 100% wintry off the strategy. Keep this thing in. My no strategy in the world can't leave 100% window. And on the other hand, rendering cannot even tell you 20% about the Senate. It is just like judging a car based on its top speed. We cannot judge a cup just based on one factor. There are a lot of important factors, like mileage, safety, comfort at sector. In the same way. There are other factors to which you should consider before choosing or buying a four X training strategy like that is to reward how much you have to risk on each day. And how much is the potential rewards, a number off setups or trade opportunities? How many setups or trade opportunities can get from that silage? Do you read for weeks to get one, or can we get multiple opportunities in Saudi on which type of creating strategy it is. Does it have proper food for entering a trade and ruled for taking profit at the optimum time? After all these questions are answered, then only you can evaluate and select a site is, But that's not. There is one more thing that makes a strategy complete. That is the trade management plan. No matter how perfect your trading strategy is, or it does not matter how much, no, let you have about four extended. You won't succeed in forex until and unless you have a solid trading plan. A solid trading plan is like a navigation system for you. It helps you stick to your part off profit and make sure that you're not moving in the wrong direction. So the better you're reading plan, the better will be the chances to succeed in Florence. Keeping all these factors in mind, I have created a four X profit system which is based on swing trading style. This strategy, which have taught in the system, is the exact strategy that they used to grow. My this wing strategy has 70% off 100 one is to 4 to 1 is to sex this story world ratio. It provides multiple setups each day. It also has roots to enter and exit a trade. And in this class, I will teach you how the forex market works and why does it moves? How does the forex market moves and what does it tells us? What is support and resistance, how to draw support and resistance correctly? This is very important because 80% off people identify support and resistance in a very strong man. The next is how to identify proper divergence, my secret trading strategy, this management plan for this specific strategies and some examples. But that's not for a very limited time. I'm going to give away my trade management plan for this exact strategy. This is not just a normal trade management. This pain management plan consists off a simple system that will help you make two times profit in each tree. The secret is very powerful and will help you achieve your willing ghouls. And half this system off trade management plan will take your training to the next level. But remember, this is for a very limited, so without wasting any time, let's get started 2. Why Forex Market Moves.: Have you ever wondered, why does the price off currency changes or what are the factors that affect the price off the currency? In this video, I will explain to you the exact mechanism off the forex money. As you know, before someone becomes a doctor, he or she has to understand how the human body works so that they can learn how to treat their patients properly and in the same way we need to understand. How does the forex market works so that you can use your strategy to make profit? You have to understand why and how does the forex market works? Forex market is a continuously moving market. That is a lot of change in the value off different currencies off the world. So what causes the value off the currency to change? Basically, three factors are frank, the forex market, the garridos, the banks and the fundamental news. Now, how do these factors affect the forex market? The 1st 1 is that readers there are basically three types of people who fall under this category. Date radios, swing credos and the position credos. Now the greatest basically reacted supply and demand areas because they feel that this level is important now. Barbara is the forex market is the volume The party, which has more value, drives the market in their direction, Let's say by us more in quantity than the sailors. Then the buyers will push the market. The party, which has more value, has the moment off the market with, So there are different levels off supply and demand with the readers reacted. This causes the momentum to change from time to time throughout the forex market, and hence because the price off the market who constantly teach now how do the banks affect the four decks market the banks or the position of Garrido's basically changes the main print off the currency by the end of the market in very specific areas and drive the market there. The 3rd 1 is for no mental news. Now every country has the economical later, and this data tells us that if the country's economy is getting stronger or weaker now, if the economy off the country gets vehicle, then that currency gets weak. So every country has the economical news show you throughout the month when this news is released, it causes the short term and sudden movement in the forex market. We are day traders and swing readers. So all we have to do is understand how the traders are frank, the price off the currency. This is because if we knew what other traders are thinking and what most off the creators will do at a particular stage, then it can help us Toby on a winning set. 3. HOW DOES FOREX MARKET MOVES.: Hello and welcome back in the previous video, I told you why the forex market moved. And now in this really you live alone how the forex market moves. Now you must be thinking why you should know this because this will help you understand the next move, volatility and the direction off the market. Many a times you must have noticed and felt that everything has a pattern and everything works in a pattern. This thing is absolutely true with forex. So what is an impulse on borders and correction? Now let us move good a forex chart and understand what is an impulse and in both is a move made by the price which is strong in nature. And it's dominated by a single party, either buyer or a seller. In the more simpler terms. When the price covers a long distance in a very short time, then it is called as an impulse. If the price is in an impulsive mood, then you will see larger candles like we have or your though candles are Liza and you will mainly see only single types. Off candles like you're the candle forming are all beardy scandals. The black one are the beer scandals in both tells us who is controlling the market. If the impulse is in the upward direction, then that means that the buyers are in control of the market. And if the impulse is in the downward direction, then that means that the sailors are in control. Off the market, you can see oil. From this point, the market started to move them. The kind is forming over. You are larger and there are mainly only one type of candles in this area. Those are the British candles. So this type of move this court an impulsive move. And this is telling us that at this area the sailors are dominating the market, so this is called as an impulse. Now let us see borders and correction and correction is a move in which the price moves very slowly and the market is in indecision, period. This means that both the buyers and the sellers are fighting to take over the control off the market. You can see at this area from this point they don't mix candles, and the distance covered is very small, the prices moving horizontally. This tells us that right now both the buyers and sellers are fighting for the control or the market on this move is called us. A correction Impulse tells us who is in control of the market based on the direction and correction tells us that both the buyers and the sellers are fighting to take over the control of the market. Now that you have understood imports and correction correctly, let's move forward and try to understand why is this important to us? It is important to understand the movement off forex market because it helps us to enter in the market at the right movement because impulse gives you more restore reward and that too in very less amount of time. So I have developed a few principles off imports and correction, which will help you to understand the market more correctly. Basically, there are three types of connections with the price mix. One can correction is in the horizontal direction off the previous place. The price sometime makes correction in the horizontal direction. Sometimes the correction made by the place is in the opposer direction. Off the first pimples, I have developed a few principles off impulse and correction which will help you understand the market more correctly. The first oneness types off connection now consider this thing to be an impulse, so the correction made by the price can be in the opposite direction off the first impulse . It can be in the horizontal direction off the first impulse, and it can also be in the direction off the first impulse. So there are three types off correction with the price usually make. The 2nd 1 is the impulse after correction is 60% times in the direction off the previous impulse, and this is called its continuation off the place. What this means is considered this to be the first impulse, and then price gave an correction so 60% off the time. The next impulse will always be in the direction off. The first impulse, so you're the first impulse was in the downward direction, so the second impulse will also be in the downward direction. We have an example, or you you can see this was our first impulse, and this was our correction. So the impulsive it's the price made after the correction was in the direction off the previous impulse, which is downward direction now. The third principle is sometimes the impulse isn't the opposer direction off The first impulse on it s court as a reversal. Consider this to be the first impulse in the price, then gave a correction like this. So the next impetus can sometimes also be in the opposer direction off the first impulse. The first impulse was in the downward direction, but the second impulse was in the opposite direction of the forced dimples. So when you see this type of pattern in the market, then it is called as a reversal. Now, the fourth principle is correction on smaller timeframe can be an impulse on higher time frame. Let me give you an example for this. Now you can see at this point the price in created an impulse and then the price gave in correction and this was the second impulse. So the correction on this chart can sometimes be impulse on the higher timeframe. So if we move and check this area on the higher time frame, then you can see that the correction on the smaller timeframe waas an impulse on and higher time frame. I hope you understood this topic correctly because you will have to use this throughout the class. So if you think that you have missed out something, then you can go back and watch this video again and make sure that you make some notes. See you in the next class. 4. WHAT IS SUPPORT AND RESISTANCE ?: Hello and welcome back Till now we have learned about the basic mechanism off the forex market. That is what causes the forex market to move. And how does the fort its market move now in this class, I will tell you Ah, very important topic in forex trading, which is support and resistance. So first, let us begin by understanding what does support and resistance mean? So what is support? Support is a level from where the buyers enter the market. So if the market is down trending, then support is an area from where the buyers enter the market and restaurant the price from going any lower. Now let us try to understand this more clearly. So consider the price is moving down like this. So this means that the prices in N downtrend and suddenly price approaches a level in the market from where the price cannot go any lower and hence reverses back up. Eso considered This is a level from where the place that he was back up like this and hence it doesn't let the price go any lower. So this area from where the price rewards upward is called as the support so this is our support. So this level is basically a support for a price because it is helping the price to restrict from going any lower. So this region is our support area, the because the buyers came in and push the price back up. Now let us see what is resistance. No resistance is a level from where the sailors enter the market. So if the market is up trending, then resistance is an area from where the sellers enter the market and restrict the price from going any higher. For example, consider the price is moving up like this considered the prices moving up from this level and it is moving up like this. Now it approaches area. Consider this to be the area from where the price drops back down. So the price goes down like this. So this area from where the price drug back is now your resistance area. So this is our resistance video. The significance off this area is that from this level, sellers became active and restricted the price to move any higher. As you can see the price dropped from this region. This means sailors came into the market and has changed the momentum from buyers to sellers and pushed the price back down. So this area is called as the resistance video. Now you must be wondering why I am telling you this. How can this 80 us be useful for us? Basically, the reason why I am telling you this is that in the forex market that traders mostly reacts to a level based on historical data. For example, consider the price moved up from you, the prices moving up. So from this level, the place again rejected it, kept on rejecting and then moved on. So now this level, from where the price drop back holds a significance in the minds off the traders. So based on this historical data, if in the future the price approaches this level that readers have a significance off this level in their mind, So at this level, the buyers who were in trade will get out of the trade and the sailors will get active and enter the trade. And this will cause the price to drop. Now that you have understood water support and resistance level correctly, let us see what happens if any off this levels are broken by the place. Now when the price breaks the support level, then it becomes the new resistance. And when the price breaks the resistance, area it because the new support let us try to understand the psychology behind it. Clearly because I feel it is essential for you all to know the exact reason behind it traded correctly. So let us take an example for this. Let us consider this is our support area. So this is our support area from which the price has Bean rejected twice earlier like this . The price move like this and it has been rejected twice earlier. So now considered the price again challenges this area. And this time it finally break past this level. So now what do you think must have happened at this level? Now the few traders which had a significance off this level would have entered a bite rate over you. But the price kept on going downward. So the buyers who used a stop loss got out off the trade with a very little loss which causes a shift off mo mentum from buyers to sellers. No, the other buyers who didn't to use any stop loss are waiting for the price to rewards and are still in the broader. And they want the price to come nearby their level. And so when the price comes nearby their level, what do you think the buyers who buy it at this point will do. They will obviously get out off the trade now, when some buyers got stopped out by the price and some clothes, their trade over you. What happened? You, the Mo mentum changed from buyers, do sailors in a huge manner. This thing. So when there is you change in the moment, um off the market for do you think will happen? Obviously the price will fall like rocks and the same thing happens for you. So the support which has been broken by the price is now the new resistance for the place. This is how support becomes resistance. And this is the exact psychology behind this. In the same way, when the opposite off this happens, the resistance becomes the support. So that's all for this video. In the next video, I will be teaching you how to draw support and resistance and how to use it. See you in the next last 5. HOW TO DRAW SUPPORT AND RESISTANCE: Hello and welcome back in the last video, I told you what support and resistance is. And I also explain you the exact psychology behind it. In this video, I will tell you how to draw support and resistance areas correctly. But first, I want you to know down a few points about support and presidents areas number one support and resistance is not a prize level. It is always a soon now. The reason why I'm telling you this is because many readers consider support and resistance to be a price level which is not true and hence ends up losing their money. So I want you all to always consider support and resistance as a zone and trade smartly number, toe support and resistance gets better with time. No many people misunderstand this and think that it will never break. But what the real ideology behind this is that the more time the more touches and the more touches tells us that the prices respecting this area so it gets better with time. But it does not mean that it cannot break because these levels are meant to break now like a start drawing support and resistance levels So the very first step is to find out the areas the price has reacted. Now this areas can be the areas from where the reversal happened or the swing lose or the swing highs. And it can also be the areas with surprises continuously rejecting. So the first step is to mark as much areas as possible. So this is the first area this prices also rejecting from you this video and this is the final area. So the second step is to cover all the areas using a rectangle. So we use this rectangle tool and try to cover all this area by a rectangle. So no, they lead this. And so this is our support level. Why? Because this area consists off all the swing lose and the prices respecting this area, and every time it is touching it, it is bouncing back. So this is how you draw a support level in the same way you draw a resistance level for that you cover. Although swing highs like this this to you and then cover it with our rectangle tool like this. Now this area has all the swing highs. And so it is our resistance area. Now you must be wondering how can you choose an entry point with such a large zones? So for entries you can draw a line and cover as much as point as possible. So if you want to Endor. So let's suppose you have sport a resistance at this point. And if you want to enter, you can use this horizontal ray and then brought a line by covering most off the lose. So I'm drawing a line like this of its discovering this law and this law. So if I want to enter at this door, I will enter nearby this line so I could have also entered Eo and I can also enter you and keep my stop loss below this. So this is how you draw a support and resistance level correctly, So see you in the next class. 6. WHAT IS DIVERGENCE?: Hello. And welcome back in this video, I'm going to tell you about a set up which I personally used. Wild trading. This set up is called as divergence. For this set up, you will have to add an indicator to your forex chart. So if you are using trading view, then you can click on this option over you and then search for Iressa in this panel. So search for Arisa that is related strength index. And then I did do your chart. You will see an indicator window like this on your chart. Make sure that you put the levels off Arisa to 70 and 30. It is usually the same. But if you have different levels, then click on the sighting. Return on the indicator with window, which is this one and then in the input section, keep the length to 14 and the source took lose. Now go to style section and keep the level off. Cooperman to 70 and the level off lower bent to 30 and click on. OK, but now this is your upper band that is off 70 level and it represents or board a video. This over here is your lower burned and it is off 30 level and it represents oversold idea . This line that you can see your is your related strength Index. This is your relative strength index. Now, the basic function off Arisa in more simpler terms is to copy the price action and show you in between these two levels. So what the Arisa is doing is it is coping the price action. If the price is moving up, it is also moving up. If the price is moving down, it is also moving down and it is showing you the place between these two levels. Now that you have understood what is an Arisa? Now let us see. What is the divergence now as I told you that the Arisa is made to copy the price action. So this means that if the price is making higher high, let me show you if the price is moving up and if the price is making higher high, then the iris. I should also do the same. The iris I It should also make higher highs. And if the price is making lawyer lose, then the Iressa should also do the same. Now, if the Arisa is not respecting the price. That is, if the price is making higher highs and the Arisa is not making any higher. That means that Marissa is diverging with the price action and this is called as our divergence. Let us say the price was moving up from this point and the price was creating ah, higher, higher. So this was the first time. And this is the second high. So what the indicator is doing is the price moved up and the indicator didn't make any new hire and it created Laura instead. So this is called us divergence. Now let us take an example. Let me show you. From this point the price was moving up and creating continuous higher highs. So this is the final higher I with the price created and this was the previous IRA. So if the price action is creating higher highs, then the indicators could also do the same. But what the indicator is doing is the price moved up, created higher than I looked, that it again moved up. But at this point, the price is finally not creating any more higher highs, and it's opposing the price action. The price was creating higher. But the iris I didn't create any new high rise. So this is court as their divergence. Now the divergence is going to be a very useful tool in the strategy which I am going to tell you. Divergence is usually used to sport three words cells in the forex market. So there are two types of divergence by divergence and the sale divergence. First, let us understand what is a by divergence. Now, consider the price was moving down from this point and creating continuous lower lose like this. So if the price is creating continuous lower laws like this, then the indicators should also do the same. But what the indicator was doing this the indicator created the first lower low and the second Lulu. But after that, the indicator was not creating any lower lower end created, huh? Higher, Lou. Instant like this. So the indicator is totally opposing the price action. So this is called as by divergence. So let us take an example. You can see from this point the price was moving down and creating lower lose. It created first lower, low at this point, then moved up, then again created a lower, low. Now, at this point, it again moved up and created the finer Loulou. So the price waas creating the lower loo. But what the indicator was doing is the indicator didn't create any lower low. And instead it created the higher Lou. And this tells us that the indicator is opposing the price action. So this is called us by divergence. You enter a bite raid at the Beidaihe religions. Now, let us see what is a certain divergence. Consider, from this point, the price was moving up and creating higher house like this. So if the price is creating higher highs, then the indicators should also do the same. But what the indicator did is the indicator. Instead of creating higher, it was creating lower highs like this. And so the indicator was opposing the price. So this is called as a set of divergence. So let us take an example for this. From this point, the price was moving up in creating high rise. This was the first tire. Then it again moved up, created a higher it retraced, then again moved up and created the final higher. So if the price is creating higher, higher indicators should also do the same. But what the indicator data is, it didn't create any new higher, and hence the place where he was from there. So this is cornice. We'll sell divergence. No, the divergence is a very good strategy when combined with some other trading techniques and gives are impressive results. But there are a few principles which I have created, and you should be doing this before trading or diverges. The number one is every divergence does not work and divergence field, if not properly trading so always used divergence as a confirmation, not as an entry trigger. Second oneness while entering a by divergence, make sure that the Arisa is on or below the artillery. So if you are entering, abide evidence and make sure their divergence is formed below the poverty level. Like over you. The number 30 is while entering Purcell diversions. Make sure that the Arisa is on for about the 70 11. So, as you can see over your, the divergence was created above the 70 level. And so it worked. The number four is divergent. Should not be traded alone. It should be combined with some other techniques. I hope you understood everything. I thought so. See you in the next class. 7. THE STRATEGY: hello and welcome to this video. So till now we have learned all the basics and essential things we need to know who use our strategy. Now in this class, I will tell you what is the strategy all about and how to use it effectively to get consistent profits. I hope you guys practice finding support and resistance levels correctly because this is going to be very useful for you in this strategy. All you have to do is to combine the support and resistance levels with the divergence. And the timeframes on with this strategy can be traded is from one hour to wiki. Let us learn how to do this step by step. So the very first thing you have to do is find out the nature of the place that is, Is it impulsive or corrective for this? I recommend you to always use ah higher time frame like daily or weekly chart because our main aim is to find what the nature off prices so that we can predict the next move correctly. I have told you what an impulse and correction is in the previous videos and if you have any doubts, then go back and again was that video Because it is very important for you to properly understand what in boats and correction is for the strategy and also, if you cannot find the exact nature off the price, that's okay. You will not get exact nature every time. As forex market is in perfect and won't always be the same. The second step is you have to check if the price is own support or resistance level or nearby it for this use for our chart or daily timeframe. If you find that the prices at nearby support that check if the price is creating or divergence now, always remember to find a divergence. Use one hour to daily timeframe. The next step is if the price is diverging from the support area, then you can enter a by trade. And if you find our divergence on the resistance level, then you can enter a celebrated. So now let us take some examples and understand it correctly. Yeah, we are on. Give s declared so first to fight the nature of the place. All we have to do is go toe Ah, higher time frame that is weekly timeframe. So on the weekly time frame. You can see the price is moving in the form off in both correction. Then again an impulse or gain a correction. And now we are expecting impulse towards the downside. So our expected move in this chart is the price will go towards don't. Now the next thing you have to do is go toe daily or for our chart like this. And now see if you can find any resistance or support areas. So I have marked few over here. You can see the price is continuously rejecting this region. So first it was a support because the price jumped from this. And then the price again, right toe reject this but finally break through. And when it break through this region, this support became resistance as the price again rejected it. And this support started acting as a resistance. So this was our resistance level. Then the price again moved down. And finally, from this level, the price moved up. Now you can see over your at this point the price has created higher high from this point. And when we compare it with the iris, I you can see the prices created no new higher. So this tells us that the prices diverging and that too from a resistance area. So you can enter self raid at this point. Were you at the four Mission off Divergence that to honor resistance living. Now let us take some more examples. So let us move for us. D J. P Y First, let us try toe see the nature of the market. So as you can see, the price is not showing us any exact nature. So we can just skip this and move through the daily timeframe or the four hour chart to find support and resistance level. When we moved to the four hour chart, you can see the price from this point. From this point, the price was moving down. It was an impulse. So the price came to this level and rejected back. So this waas I was support area because the price has reacted to this area and the price moved back up. No, when you can see the price again came to this level. Now this time this was our support area and the price Yeah, created a lulu. But if we compare this with the Ariza, you can see Iris. I created a higher Luke. That means that the prices diverging and so we can enter a bite rate from this support area , or you and you can see it almost gave us a nice profit off about 182 pips. And our stop loss would be about 20 to 25 pips. So it gave a nice it is to reward on this little red. Let us take one more example. Okay, At this point, you can see this is our resistance level because the prices rejected it cool off times. So this is our first residence light, because this level was acting as a support first. But then the price break through it. And hence this layer level is now acting as a resistance. So you can see prices rejected this level and this level a couple of times. So when the price came to this level, the price as usual, created higher high. But when you compare it to the other side, it created Oh, hi, Lou. And you can see the level off. Ariza is above 70. Vigil. Always recommend you do note down. We're never finding a divergence. The indicator in the price is not agreeing with each other. And this is telling us that something is wrong in the market. So what you can do is and that Oh, celebrated at this at the formation off this divergence and keep the stop loss just a few pips above this resistance level. So then you can keep the stop loss 5 to 10 pips above this residence level and keep the take profit till this level. So this is the life laid which I have just entered. I have took her trade at this point. And, uh, I have kept my stop close above this level and our take profit nearby this region. So this gives me a nice restore reward off about Let me show you. This gives me a nice that is to the world off. I haven't done my position for you on my stop closes at this level and my day, Crawford will be this one. So this gives a risk to reward ratio off about 5.8. This is how you did the divergence in the support and resistance. I hope you understood this strategy correctly. If you have any doubts, you can go back and watch this video again so that you can get usedto with finding this divergence and support so that you can trade them. Currently. That's all for this video. See you in the next one. 8. RISK AND TRADE MANAGEMENT: Hello and welcome to the last lesson off this class in this class, I will tell you how to use stop loss and take profit in the strategy which I told you earlier. And I will also give you a nice and simple trade management trick which I myself use. Okay, So I will take a few examples off the setups which we will trade to this strategy. And then I will show you how to use stop loss and take profit effectively. Let's take some examples so you'll be are on gold USD four hour chart. As you can see at this point, the price is continuously rejecting this level. So consider this to be our support area. So this is our support area. And at this point, if you consider the price was creating a lower Lou. So the price has created or lower Lou A to this point. But if you consider it with the other side, it does created up. Hi, Lou. So what is this telling us is that the price and indicators are not agreeing with each other. So this is our divergence. And so we enter our trade at this point. So what you have to do next is keep the stop loss off your trade 5 to 10 pips below the support area. So your stop loss will be at this point. And now your take profit will be at the forced resistance level. So the first resistance level is this one. So this will be our take profit area. If you calculate the but this story Ward Mayhew off this trade, then you will see that you have got every story word. Oh, just a minute. So you have got a risk to reward off about 4.5 name. So this is your restored order issue. Let us take one more example. Okay, we have one oil considered this to be our support idea. This is our support idea from your do you If you come bet this area with Marissa, you can see the prices creating continuous lower lose. But what the indicator is doing, What the ERISA is doing it it is cleared in a higher, higher. So this is telling us that the price and the indicator are not agreeing with each other and hence has created or diversions. So what you will do is you can enter Well, bided at this point four straight at this point and keep the stop loss 5 to 10 pips below the support area. So your stop loss will be there and then you can keep their take profit this level so it will give you a nice that is, to the world most about 60 pips off risk and a profit off 246 trips. So this is how you treat now. The trade management trick, which I was talking about, is the to trade system. But before explaining that I want you to know the risk management plan off this strategy. So what you have to do is you have to only risk 3% off the total account world trade. If you have they account off $1000 bent, you can risk only $30. What breed? Considering the stop loss, you have to choose. Your lord says consider you have a trade which has a risk off dips. So now if you have an account of $1000 then you can risk $30 portrayed. So if the risk off trade is off $30 then you can use a Lord size off zero point 10 on that trade. This is the risk management plan which I want you do for you in this strategy. The trade management recommits I was talking about is that to trade system. Now, what you have to do in the trade system is simply divide. The Lord says that you are using by two. So if you are using a lord size off 0110 then you have to place two trades off 0.5 each on the same position. How is this gonna be benefiting you is consider you are entering a trade at this point. So you have entered two trades at this point. What you can do with this is when the price was rejecting at this level. You can close your first position at this point so you will get and profit off around 1 40 pips at this point and the other trade which is still running, you can keep the stop loss off that trade at break even. And so by this you can have a high chances off finding more profit on a single tree. This is a very effective trade management trick. which and myself use and have benefited many off my students by this simple trick. So that's all for the schools. If you have any questions regarding forex trading or this class, then feel free to contact me at adamant at forest monopoly dot com. Or you can visit my website Forex monopoly for more information, please post a review and also let me know on what topic do you want me to make my next last thank you. 9. Examples : hello and welcome to the final video off this course. I have made this video to make you understand how to trade the perfect swing set ups and how to use the great system Before we start. I want to tell you a few things about this strategy and some issues, which you may face wide trading now, as this is a swing trading strategy, which you will only great on higher timeframes. That was from four hour, two weekly chart. Many times when there is less volatility in the market and when the market is not moving much, you may have to read to get few sytems. During such times, you will have to be patient and wait for good centers. But remember, one good entry can give you very more profit than any other side upset. Also, many times when you get into a set up, the price may not quickly move into your favor and start correcting instead. So in such case, no matter what your potential target is, you have to use the food system and make sure you lock some off your profit but exiting one trade. And one more thing is as this is a swing trading strategy. Sometimes you may have to keep the trade running for these or even weeks. So again you will have to be patient with that. Now let's go to the chart back, test the strategy and also understand how to use the two great system. So this is or JP work for our child. In this chart, you can see that the price was in a downturn and then from your the price started moving up , it came to this level resected the Zune and moved on. So this area is our minor resistance. Now again, the price moved to that level and this time it moved above the resistance. After moving up, it again came to this level and we tested the level which tells us that the previous resistance is now. I think, as a support the next time the price came to this support. Soon it created a divergence. As you know, the price created a lulu. But the Arisa created higher. So we will enter food rate at this point using the coup trade system and keep the stop loss 20 to 30 pips below. The soon we will close one off our trade when the price comes nearby, this level with around 200 pips off profit and we will keep the stop loss off the other trade at break even and let it run risk free to lower potential target is reached and our potential target would have bean around this level, which is around 700. Tips from our anti point, we have one more and three ou. As you can see, this is our resistance idea and the prices rejected this area a couple of times. You're the price has created or die virgins. So we will enter a self read somewhere near York using the two great system and keep the stop loss 20 to 30 pips above the suit. We will close our first rate at this level with around 1 50 pips of profit and keep this pope clothes off other trade at break even one more important thing that you have to keep in mind as yours oh, should be accurate and mostly consider major support and resistance areas because if you're zones are not accurate, you may please the straw plus incorrectly and the price will hunt down your stop loss. Now, in this example or and said daily timeframe. The price was in a downtrend. A drop filled this level and moved up and tested this area a couple of times. So this is our support tune from your the price moved above and then again brought down to our support level. You're the price created or diverges. So we will enter to buy plates or you and keep the stop loss 20 to 30 pips below the suit. We will close our first rate around with 1 40 pips off profit and keep the stop close off other trade to break even and wait for the price to reach our potential profit As you can see In this case, the price didn't reach our target area and took our stop loss which was at break even. But as we use the trade system, we still got a profit off around 1 40 pips. Now again, the price moved knew the resistance area from which the price broke All you So you're the price created dive origins as the price was feeding higher highs and Alice I was creating lower highs Instant. So we will enter who celebrates over you and keep the stop loss 20 to 30 pips above this one We will close one trade or your itself with around 200 tips off profit and keep the stop loss off other trade at break even Now in this chart theory CHF for our chart from your The price started moving up and then he was from you The price moved on. Then again, right Lopez, the resistant area you can see our divergence is formed So we will enter a celebrate at this resistance area and we will keep our stop close 20 to 30 pips above this one We will exit one trade with around 80 pips off profit and keep the stop loss off the other trade at break even We exit our next raid at this point which is around 200 pips off profit. Now let us take a few more examples off this So this is CHF J p y for our charge York This area acted as a resistance and the price of rejected it a couple of times Now you When the price approached this area, the price created a higher high. But the iris I didn't create any new higher highs indicating or die which is so your we will enter celebrated and keep our stop loss 20 to 30 pips above The soon we will close one off our anti with 200 pips off profit and keep the stop close off the strait at break even and let it reach our potential target somewhere near you when the price reaches the or board level Now I will show you one more example Off the trade which took a few months back this swing trade was on gold which also shared with my instagram followers and it gave me around 3500 pips off profit. So this is the chart off. Good, good isn't an up trending market since the last year here you can see the price of gold moved up to this level and then drop down to this level, which is our support or buyer. Soon after this, the price moved up and group the previous resistance and rally for the And that time I shared my analysis on gold. The price of gold wasn't here 5 $1089 pounds. I mark, who support for this chart The buyer Zone one and the bayous. Soon when the price moved near by a Zone one, there was no diverges. So I waited for the divergence to form the price, broke the first support and moved to the major support which is New York and your It gave us a nice diverges. So I entered to treat at this point and kept the stop loss 50 pips below the zoom. As gold is very volatile. I closed one trade with around 900 tips off profit at this point, and the other one is still running with a profit off around 3500 trips. This was the same strategy that I used for entering this street. So that's all. For all the examples, I hope you understood everything. If not, then feel free to ask me. The real key to success in forex is toe implement practice and be patient all the best with your trading and thank you for taking this course 10. IMPORTANT MESSAGE.: Congratulations. You have successfully completed this class. Now. I've already added a trade management class for this exact strategy. Having a trade management plan can take your training to the next level. Definitely like Yemen. You check it out. This waas afford extra inside it. And when you trade using this strategy, you will get very few set up daily. And so you will have a lot of free time because off this. But if you want Owen war proffered during this free time, I have added a class one scalping way stated, which goes really well with destroyed it. You will be able to take more great and make Morgan's in the remaining time. This will increase your world profitability from forested. You can check out my food, it scalping masterclass. If you have any questions or doubts related to this topic or whatever, I thought you in this class, then feel free to ask me. I'm always here to help you and make sure you visit my profile and follow me there and check out my other class on forex stocks crypto and investing. Thank you