FOREX

1. Introduction

Irek Piekarski started trading Forex in 2012, because it is easy to learn for beginners.
3 years with Forex then started trading Equities.
More opportunities when using both. 2 years later started trading Crypto
Now he trades all 3 markets.
Beginners should start with Forex!

At the end once you master at least one of them, you can start trading other markets. And you should too in order to diversify.

2. Markets

Forex market is the biggest. Most liquid. Price action is clean, constistent.
The whole world is trading it.
24 hours a day 5 days a week.

Nyit: Vasárnap 10pm GMT
Zár: Péntek 9pm GMT

Focus only on major currency pairs! Here is a list of 28 major currency crosses (pairs):
– AUDUSD, AUDCAD, AUDCHF, AUDJPY, AUDNZD, USDCAD, CADCHF, CADJPY, CHFJPY, USDCHF, EURUSD, EURAUD, EURCAD, EURCHF, EURGBP, EURJPY, EURNZD, GBPUSD, GBPAUD, GBPCAD, GBPCHF, GBPJPY, GBPNZD, USDJPY, NZDUSD, NZDCAD, NZDCHF, NZDJPY

Others: – USOIL, UKOIL, XAGUSD (silver), XAUUSD (gold), USDOLLAR or DXY (US Dollar Index - not used for trading, just for reference)

3. Tradingview Setup

4. Foundations/Indicators

MACD:

20EMA & 50EMA

Support & Resistance

VOLUME
This indicator tells us that there is a lot of action or volatility in the market. We will utilize this indicator on the 5-minute timeframe only, for timing our entries. When volume spikes this means people are buying or selling and we want to mainly trade around periods of high volume which, will allow for momentum. In this lesson, Irek explains when the high volume trading sessions take place for the foreign exchange market (London, NY and Asian Session). Regarding the equities market, generally, you’ll see volume spiking within the first hour or so after market open, and potentially again during the last hour for an end of day run.

Candles

All Candlestick Formations Should Be Rejecting Something. They must always happen at support/resistence.

High-test / low-test – Tweezer top / tweezer bottom

Bearish / bullish engulfing

It must be rejecting something, for it to be a valid.

The following ones are not as strong as the previous ones.
These are strong when there is a combination of candlestick formation patterns.
For example: Combined with a high-test reversal.

Hammer / inverted hammer

It's pretty much a low-test/high-test, but at a different place.

Doji and Inside Bar

Deceleration & Consolidation

It’s very important to understand what deceleration is, and also what consolidation looks like. 9 times out of 10 we need some sort of deceleration to be present in the market before executing a trade… deceleration is a signal that price may be turning around (i.e. price was accelerating to the upside, but reached a support and resistance level such as a horizontal line, and then began to slow down, ‘decelerate’, and potentially reject that level).

On the other hand, when we are witnessing periods of consolidation in the market, we want to avoid executing trades. Consolidation is messy, sideways price action, signalling indecision. We don’t want to trade during periods of consolidation, instead, we want to wait for a clear breakout above or below the sideways price action.

Deceleration has to hit a resistance/support level and will usually have a reversal candlestick formation at the end.
Deceleration starts out with a big candle and then gets smaller and smaller as we approach a resistance/support level.
Deceleration might turn into consolidation. Consolidation looks messy, while deceleration looks clean and simple.
Deceleration can last anywhere from a day to 5 days on a daily. On other timeframes it is around 2-5 candles usually.
If it runs longer, it is probably a consolidation.
Consolidation is indecision in the market.

Market Conditions

Fibonacci Retracement

The Fibonacci Retracement tool measures the potential pullback within a run.
It is something that you will utilize in your analysis every day. It’s used for planning entries, stops and even targets.

Fibonacci Extension

The Fibonacci Extension tool is utilized to measure the actual run within a trending market (as opposed to the retracement tool, which measures the pullback).

5. Price Action Patterns

Triangles

Head & Shoulders

Double Top & Double Bottom

Flag Patterns

6. Multi-Timeframe Analysis

A run on a higher timeframe is a trend on a lower timeframe

A trend on a lower timeframe is a run on a higher timeframe

EDDIG VAGYOK MEG

Elliot Wave Theory

IBO Strategy

IBO-A: 4H already has a confirmation of a trend change.
IBO-B: 4H is developing a trend change while you are executing the trade.
IBO-C: 4H has a 50EMA rejection before the trade is being executed

Risk Management

1% RISK MINDIG, CSAK ÉS KIZÁRÓLAG AKKOR EMELHETED FEL MAXIMUM 2%-RA HA EZEK A FELTÉTELEK TELJESÜLNEK:

1. - 5% felett van minden hónapod LEGALÁBB 6 hónapon át
2. - Átlagba minden traded risk:reward ratioja 1:2
3. - 50%+ ja jön a tradejeidnek de inkább 55-60%

Position Size Calculator

FX Pip Value Calculator

Motivation

Jaguar F-Type R
€55,000

Suzuki GSX S-750
€6,500

Óra 2020 Végén

HUBLOT
CLASSIC FUSION ORLINSKI TITANIUM
€8,500

VAGY

ROLEX
SUBMARINER
REF 114060
€8,300

Bearbrick Bait Gold Bar 400
€300

20cm Richard Orlinski King Kong
€30

KAWS Companion Open Edition Black
€300

1199 Summit Dr

€3,400,000

Laguna Beach, CA