Day one of the position trading bootcamp. This is a 5-day forex trading course designed to help you understand how to position trade and benefit from the natural ebb and flow of the foreign exchange markets. In this lesson, we look at the course overview and what we’ll be covering. We also kick off with a look at how to measure your success as a trader and why you should not use pips for that, or indeed for anything! Then we take a detailed look at how and why the market moves, who the main participants are and how we can take advantage of the natural ebb and flow of the forex markets.

In this lesson, we look at multi time frame analysis and how it can help us to time entries based on the bigger picture. Using a higher time frame for our trade idea means the idea is generally better, as higher time frame signals are more accurate. We also cover elastic band theory, how the market expands and contracts when buyers and sellers enter the market and drive price based on exhaustion. Finally, we look at the difference between stop loss traders and position traders. How the psychology of trading with a stop loss causes most traders to fail and hop systems continuously.

In this lesson we look at indicators, nothing but indicators (and a little sneak peek at strategy!). I go through all the indicators that make up my strategy and explain why I use them, how they work and ways to put them to good use and extract money as a position trader. 

This is the lesson where it all starts to come together. How to position trade and how to actually place your trades into the market. We also take a detailed look at risk management and drawdown control, as well as aggressive drawdown control to get out of positions that don’t go your way. Finally, we have a look at Martingale and how that effects this style of trading.

The final day of bootcamp covers the strategies I personally use to enter the market. Exactly what I’m looking for, what indicators I use for each strategy, and my exact entry and exit criteria. We also look at how the EA can automate entries with the strategies too and see it in action doing exactly that.