training for us is just like driving a car you need how many things again four things the first thing you need of course is your trading system of course now carry on common sense little not going to detail okay don't worry about it the second thing you need
is your risk management system okay can then a third thing that you need is your trading psychology strategy now what the quickest strategy now a lot of people think that I Akira is just emotions not Sigma when it comes to trains I called you you also need a
strategy for it can give me a specific strategy for your trading psychology and what's the fourth thing you make a guess you need money yes of course you need money education okay penny very good but the answer I'm looking for is your trading business management strategy what is
this trading business management lead I'm not going to detail okay don't worry about that so we kept again what's the first thing they need feeding systems are continually risk management system your training system needs to comprise of a couple of things the first thing they'll need is your
technical analysis and of course your fundamental and now this is of course not carrying common sense there's a lot debate going on is technical I suspect or fundamental it is better if you have both tools to use why not use both why do you need both it's because
you need fundamental analysis to determine the long-term direction of the trend whether the long term will it go polish or will it go bearish and how do you determine where to enter where to TP where to cut your losses you use your TA okay so you combine these
two things together and not only doing it can it come from the maternal is this you need what we call up high probability setup in other words you need confirmation you need well again ladies and gentleman you need confirmation what do I mean by that you cannot rely
on just one sector for you to say okay I'm going to buy no because when you asked a lot beginner traders the way they treat is oh because now it's over so then I buy up because not over bought this so just based on one factor because my
analyst my broker said by then I buy oh you asked them why do you buy don't know you must have at least how many confirmation factors at this tree okay well this tree early so many at least tree let me give you an example if I show you
this chart what currency is this now when it comes to trading knowing when not to trade is just as important as knowing when to trade because there are certain points in the markets where you buy it's not a goodbye it's a way stupid place to buy so if
you look at this chart on the first portion over here you see a consolidation market or ranging market after that it goes bullish can you see just based on this chart where should you not buy okay where to buy later on it on but for now wish you
not by 15 Jen don't buy here 17 Jen don't buy here at engine and engine don't buy here then it again don't buy here how you know I know before the price even goes up how do you know if I draw this one line can you see Vida
fizzy why sure not by what's happening there with this trans line now remember when I said you need a high probability setup quiet and you need to check with confirmation how many confirmations do you need at this tree okay at least three confirmations now if I draw this
resistance line why should I buy here because in order to tell whether a resistance line is strong or not the price has to test the resistance lines at least three times if it does here one time second time okay what you buy over here that time when the
price test resistance line at these three times you'll be a very strong resistance you need to see it as a resistance don't a resistance what don't you realize that why don't I draw my line over here why don't draw it over here right at the top of the
wing because you need draw a best-fit line but there's now a best-fit line okay see resistance lines as a zone now you already know where it will not buy okay can tell me where should you buy the first point you should buy first point second point over here
why is that because I want to wait for the price to break out the resistance line then I'll go and buy but of course you don't just buy based on price pick out you need to put in more filters more indicators the truth is you need a lot
more filters okay you need a lot more filters then can how do you know you should buy over here I don't know if I add this one line can you see any way you see what's happening with you one of the functions of moving a rich is that
it act as a dynamic support dynamic support so that's our first confirmation there's our first confirmation we need how many more we need two or more where is the second confirmation if i zoom in can you see a no okay yeah because this backwards back color what's this
cannot stick pattern call this what we call a spinning top spinning top when you see a spinning top which looks like design where's it when you see this pattern it tells you that the price is going to Newton how many confirmations we need three so we need one
more if I draw this line can see what's happening what's this line called trend line you see price test how many times one two three is this a good buy over here so how many confirmations id3 add one more confirmation you need your fundamentals how do you know
whether the price is going to go bullish in a long time look at fundamentals especially if you have trend for a while look at fundamentals what are some of the key fundamental factors they need to look at the first one MF oMG meetings was this gym what FOMC
meetings for the open market committee I got meaning that you need to see whether the Fed is going to increase decrease or maintain interest rates then how do you know whether the Fed is going to increase maintain or decrease interest rate can you predict or not how many
of you say can predict how many of you say cannot predict one its random one actually you can you can look at what kind of data look at consumer prices in other words the inflation inflation data when inflation is very high coupled with high economic growth very likely
the Fed is going to increase interest rates okay again careful oh I see so you may confuse kappa holla if you are still not clear go to my youtube channel watch all the 203 videos is free okay can the other keep and mother factors then you take note
of is non-farm payroll in other words and FP the next thing a new technologies your retail retail sales data then also trade balance GDP rates to see whether the trend is going to go bullish in a long run go bearish in a short one is to look at
US markets SMP fine but if you're fina your dollar like just now how do you know whether it is going to go continue to go bullish look at some piece I'm good if the S&P 500 is going bearish very likely your dollar is going to go bullish okay
again if the S&P 500 is going bullish very likely that your dollars going to go Barrish because investors debt exchanging foreign currencies to US dollar and hence us tolearn demand increases and hence you can see what God [Music]
