• What Forex is: the global market for trading currencies.
• Why trade Forex: liquidity, 24/5 market, accessibility, and potential opportunities.
• Key terms and scope: major/minor pairs, pips, leverage, margin, lots, spreads, orders, and risk management.
• What this course will cover: market structure, trading concepts, analysis methods, trading plans, and practical execution.
• Currency pairs and quoting: base currency vs. quote currency; understanding bid/ask.
• Major, minor, and exotic pairs: liquidity, volatility, and typical spreads.
• Market participants: banks, hedge funds, corporations, retail traders, brokers.
• Trading sessions and overlap: London/NY/Tokyo sessions and how session overlap affects liquidity and volatility.
• What moves currency prices: macro data, central banks, geopolitical events, risk sentiment.
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3. How Forex Trading Works
• Price formation: supply and demand dynamics in currency markets.
• Leverage and margin: how brokers allow control of larger positions with a fraction of capital; risks of leverage.
• Order types: market, limit, stop, stop-loss, take-profit, OCO (one-cancels-the-other).
• Trade lifecycle: opening a position, monitoring, managing, exiting with P/L realization.
• Typical costs: spreads, commissions, swap/rollover rates.
4. Trading Styles and Timeframes
• Day trading: short-term moves, intraday charts, quick decisions.
• Swing trading: several days to weeks, focusing on trends.
• Position trading: long-term macro reads, weeks to months.
• Algorithmic/quant trading: basics of automation (optional for beginners, but include a note).
• Choosing a style: reflect on time availability, risk tolerance, and personality.
5. Market Analysis Foundations
• Fundamental factors: economic indicators (GDP, inflation, employment), central bank policy, geopolitical risk.
• Technical analysis: price action, chart patterns, support/resistance, trend lines.
• Sentiment and risk-on/risk-off — how market mood affects currency pairs.
• The three-pronged approach:
o Market structure: trend, consolidation, breakouts.
o Price action signals: candles, momentum, volatility.
o Risk management: position sizing and stop placement.
6. Risk Management and Psychology
• Risk per trade: recommended ranges (e.g., 0.5–2% of account per trade for beginners).
• Position sizing: calculating lot size, pip value, stop distance.
• Stop-loss placement: using logical levels and volatility-based distance.
• Risk/reward ratio: aiming for favorable expectations over time.
• Drawdown management: max daily/weekly drawdown rules; when to pause trading.
• Psychological aspects: discipline, patience, avoiding overtrading, handling losses.
7. Trading Plan and Process
• Components of a plan:
o Objectives and time commitment.
o Markets and instruments to trade.
o Analysis method (technical, fundamental, or hybrid).
o Entry rules and exit rules (profit targets, stop losses).
o Risk management rules and max risk per trade.
o Journal/logging and review cadence.
• Daily routine:
o Prep: check economic calendar, news, and overnight movers.
o Analysis: identify setup candidates with clear criteria.
o Execution: place trades with predefined sizes and targets.
o Review: post-trade analysis and journaling.
8. Tools and Infrastructure
• Brokers and accounts: choosing a regulated broker, account types (standard, micro, demo).
• Trading platform basics: charts, timeframes, drawing tools, indicators, order entry.
• Market data and calendars: economic calendars, news feeds, and volatility indicators.
• Demo trading vs. live trading: importance of practicing on a risk-free account before real money.
9. Practical Exercises (Hands-on)
• Demo account setup: open a risk-free account and familiarize with the platform.
• Chart analysis practice: identify trends, support/resistance, and a few patterns (e.g., double tops/bottoms, breakouts).
• Simple trading rules to start:
o Use a single timeframe (e.g., 1-hour chart) for practice.
o Apply a basic setup with a clear entry, stop, and take-profit.
o Keep risk per trade low and respect the stop order.
• Journal practice: record setup rationale, risk, outcome, and lessons learned.
10. Common Pitfalls and How to Avoid Them
• Overtrading, revenge trading after losses, chasing profits.
• Ignoring risk controls and letting emotions drive decisions.
• Inconsistent trade journals and poor post-trade analysis.
• Relying on too many indicators or “holy grail” systems.
• Underestimating leverage and margin requirements.
11. Progression Path and Learning Milestones
• Milestone 1: Understand concepts, glossary, and basic pricing.
• Milestone 2: Practice with a demo account; implement a simple trading plan.
• Milestone 3: Begin live trading with low risk; establish a journal and routine.
• Milestone 4: Refine strategy with systematic review; improve consistency.
• Milestone 5: Develop advanced risk management, position sizing, and diversification.
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