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YMFL Introduction

So trading currencies is easy as ABC or maybe not. Maybe it is complicated maybe not. What is complicated is mastering the basics and sticking to them with consistency. Many strategies have been created and a lot of them proved to work, at least once or so. The end goal of every strategy is to make profit. As much as they are, one does not need to use all the available strategies, but only to master one and stick to it.

 

Introduction

The most important part of trading is practice, so without wasting any time click this link ( this will redirect to our brokers page so that a person may sign up for a broker)  lets start world war 3 (it’s us against your pocket). We will explain everything else as we go, even the definition of forex we are sure we have it somewhere. Wait a minute we forgot that you also need to join our army so to do so click here link ( to sign up to our page).

(Image)

Now that you have joined the company of elite warriors, from here going forward everything we discuss you go and implement. The boring staff, is just a consequence of having money that you and i must endure. We can’t help it.

Fibonacci, oscillators, convergence, divergence, pips(what are those), stop loss, take profit, hedging, non farm, commodity channel index, dark cloud cover, disparity index( I despair), doji, engulfing pattern( sweating guy) = complex = bin

Our way = forex = ABC (preschool pupil).

You simply have to master a few concepts then add everything to it.

Three fundamentals to be mastered

  • The market Discounts Everything
  • Price moves in Trends
  • History repeats itself over and over again. (if King Solomon was wealthy so can you)

Now with these basics we get going and do the impossible and challenge the odds.

Strategy number One

Quote: “hope is not a strategy

                It takes as much energy to wish as it does to plan.” Eleanor Roossevelt

So we hope to wish to make you understand. (just kidding, we actually have a plan. ?)

“We have a strategic plan, its called doing things.” Herb Kelleher

Break Out Strategy

Tools for this strategy

  • Trendlines and their fancy Cousins called Channels.
  • Candle stick Charts
  • Support and resistance Zones
  • Patience for the set up to confirm
  • Buy or Sell and you done wait for money to show up. As easy as ABC

Are you Ready to make Money ????????? Lets do this

Step 1

Let us now do the practical of it and see how we get this or maybe you wondering what all the things we just wrote there mean. So we shall begin by learning what a line is and what better way to learn about it than with an example. A line looks like this

#diagram

Yes, that is a line. You thought it was something different? Nope, that’s a line exactly that one the one you know.

Now ours is called a trendline, so Question is what is a trend. But one simple fact is that a trendline will definitely be a line that is drawn on a trend. Yes, it is that simple because it is that simple. So if you have a dictionary or google you can type in the word Trend and you will likely find this,

Trend means “a new development in clothingmake-up”  yes you all thinking vogue magazine I know right.  So we are going to draw a line on the make up or clothing lol.

Back to serious business this definition is a better one

Trend means a general development or change in a situation or in the way that people are behaving?. Yes so its saying change right or development in the way PEOPLE but here since we are in The money markets we shall say change or development in the Market

Now currency markets are very straightforward. They develop or change in only two directions. Yes I said it only, two directions people and I will repeat again two so one only has to make a choice on two things. Markets and the prices in them will only either go UP or Down and nowhere else lol. I say this makes everything very easy ????????. So that means the “trend this so called change or development in the market prices is either going Up so to be fancy and very smart that becomes an Uptrend cause we smart. It’s a trend that is going up so it is an Up Trend. Since I know you getting this this also means when its developing or changing downwards it becomes a Downtrend. You cannot argue with me that this is not very easy because it is easy.

Now back to our story Trendline ??, what is it? We know one thing that it’s a line and because its called a trendline, that means it`s on a trend. If it`s on a trend that is going up it is an up going trendline ? so uptrendline to make it short. When its drawn on a trend going down it’s a downward bound trendline so short downtrendline. Very simple

The million dollar question now is also the simplest of all, how do I draw it and where do I draw it this trendline? The following diagrams are going to make that story very simple. I hope you have at one point in your life copied someone cause that skill is what we need now.

Where do i find it

  • There is a platform called Metatrader where you find what things are called charts where the price of things is seen moving going up and down( I wonder when price will ever get tired)
  • The you will see things that look like the diagram you are seeing below so before we continue I am sensing that the electricity may have gone here so lets go and get a candle, I hope you all know what a candle is yes the candle stick

#We put short video here

2) Candlestick( Chart Patterns)

So we all know those waxy fellas with a thread in their center that we light up on one end so we can see in the dark when the ever so reliable electric train decides to depart. So sometimes our candles can burn until they are so short. Sometimes we have the so very long candles. And we all know we can have different colors to the candles apparently we can also customize our charts.

Now some very smart people whose names I do not know also decided to represent the activity of price as it is going up and down as bars with sticks they call wicks. And when they become a bunch of them moving upwards or changing upwards that is what they call an uptrend. So each of these candle sticks will have a body. Now to make it very interesting, we can also give names that are so cool and feisty to the bars with wicks or simply candlesticks.

Some farm enthusiasts call the ones going up Bull candles from the simple logic of a bull tossing things up when it attacks. Then the candles going down are called Bear candles from the fact that a Bear when it attacks it stands up to claw you down to pull price down grrrrrrrrrrrrrrrr. The picture simplifies everything so small exercise I need you to identify a candlestick pattern and also try guess which one is going up and which one is going down simple isn’t it

Now I think we now have too much knowledge and we ready to start trading, Bring on the rest of the strategy we want to make the cash quickly. Or maybe one more important thing before we go further

Candle stick and the trendlines work together like Bonnie and Clyde so we have to know how to use them

#We have another video here

Step 2

How to draw trendlines or say valid trendlines

Uptrendlines( Lines for a trend or just simply a group of candles going up)

But now you must have seen even though price goes either up or down it doesn’t just shoot straight up, it goes in a fascinating zig zag pattern of alternating rounds of pushing up then down then further up then down.

The uptrendline will then mean the line will be accompanying the group of candlesticks going up. This therefore means one thing; it has to be under the candlesticks that are going up so that they sit on it. For it to be valid it should never cut through a wick but only touch the tips of the wicks. A trendline becomes valid if it touches two or more points in its journey from the left of the chart to the right.

So follow the tutorial on how to draw one from the following examples.

Now this is the most important part of the strategy so take your time to master it

Downtrendline ( lines for a trend or group of candles going down)

This because it’s so simple we shall not use too many words to describe it. This line will be joining the wicks at the top of candles that are on their way down. Yes, it is on top of them as if it is pushing them down. This will make more sense with an example. The line must never cut through the bodies of a candle or the wick but must just touch them from the top to the bottom.

I now just want to dive in and trade.

#We put another video here

Step 3

3)Support and Resistance

Here is the most interesting concept of all the things one can ever encounter. Whenever you see a chart always chant these words at the top of your voice. “History repeats itself in the charts”. This means that what has happened before is likely to happen again.

So we saw earlier on our candlestick chart that price moves and stops or rests at intervals it doesn’t just push up without rest or taking a breather. These places it takes its breath are the areas of either support or resistance. I always imagine price movement as a battle between buyers who are trying to raise the price and sellers who are trying to push the price downwards. So like those battles of old, when the buyers have more firepower they will chase a higher price but the sellers retreat to a base they are strongest to get reinforcements and prevent further rise in price.

The technical terms are very simple resistance level when we are trying to push price upwards is a place where a lot of sellers come in and prevent a further rise in price. Support is the place where now the buyers come back and prevent a further decline or drop in the price.

Why is those of any importance. Well it means that we are likely to see price playing in the places it has played in before. Which means in its ups and downs we may likely see where it is going to park and rest or run to when it passes beyond a certain level.

#We put another video here

Step 4

Patience

 So when you go hunting you don’t go chasing a deer before it comes close, so we wait for it to hit the zone.

Strategy Execution

Draw a valid trendline on a trend that is either going up, or going down

Step 2 wait for the candles to form that cross that trendline

Step 3 sell if the candles cross going down or buy if the candles cross going up.

Take profit and go and treat yourself to something very nice simple isn’t it.         

As easy as ABC lets make some money good people

#We put the video here.

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