👉 Do These Three Things To Make Money In Forex

Hello traders, how are you? Vladimir here from Traders Academy Club, and in this video I would like to talk about 3 steps to successful trading. Okay, so to do that, I would want to present a trade directly from Traders Academy Club. And for that, I would want to go to my trading journal, the place where we have all our trading ideas summarized in real time for our members of Traders Academy Club. Uh, the trade I would like to talk about today is the— this one, the pound yen. Bearish sell idea for a midterm. And to start with that, here is our original, uh, entry image, and I would like to explain the 3 steps why and how I choose my trades. Okay, so step number 1 would be the pre-trading. What do I mean by that? It's analysis. Now maybe you are aware of that, maybe not. Uh, the way I see that, at least trading is split into 3 key steps, okay? And that's what I want to explain in this video. The first step is always the preparation, the pre-trading analysis. What— why do we need analysis? And what does that mean, to analyze the market? There are 2 ways you can approach trading: randomly, shoot in the dark, buy or sell because whatever the reason is— I heard, I saw, I saw whatever— or technical reason or fundamental reason, fact based reason. Okay, uh, and that's where it— the technical analysis comes in place. It's one way to analyze the market and to choose the direction you would like to trade. Okay, every financial, uh, invest, trade, transaction, uh, involvement from your side better to be done based on official facts. For me, as a technical analysis trader, as a certified financial technician, charts for me tell the whole story. So I do love to watch the charts and basically to first of all analyze the instruments in order to choose a direction. Why do we need to choose direction, you might think? And the answer for that would be very, very simple and straightforward. If I don't analyze, how can I know if I'm— if some instrument is due to a buy or a sell? Where are the better chances? What do I mean by that? If there is a clear trend going upside or downside, that's for me a way basically to understand, okay, if the buyers are in full control, I better look to buy. Right? Pullbacks and try to join them. If the sellers are in control in the market, then I would be looking to basically go and join the sellers, right? If the buyers were in control and now the market shows that the bullish trend is over and the reversal signs take place, then I would be looking for these reversal signs and to try and to get rid of my buys or go with the expected sell, etc., etc. That's why the step number 1 is always— and remember, that is always preparation for a trade analysis. Okay, um, those who invest in instruments do that with all the data available as per the stock or the company, the earnings, the growth, the expectations, etc., etc., etc. and then they make their conclusions. So the preparation for a trade is step number one. In that case, I would like quickly to explain my techniques. And besides that, I would like to invite you to take a look in the exact video since this is not real time. Now, as I record this video, it's about 2 weeks since this trade was originally done and about a few days since the trade hit the final target we have around 150. I invite you to join the original video. Okay, on the right top corner of this video, on the exclamation mark, you would be able to find the video I'm talking about, the original video for the pound yen sell. Also, I will publish that below in the comment section so you can check how this idea is delivered real time in Traders Academy Club. And all our members are exposed to it. Okay, so what did we have here in terms of the technical signs? I would like to go back to the chart. So based on— and I'm not going to enter and dig very deep into the techniques. I want quickly to cover and explain what do we have here. So based on my multi-timeframe analysis, and I always analyze multi-timeframe. And again, I would like to invite you to join us in Traders Academy Club and to learn all these techniques for analysis, for trading, and for management, which I also will cover in this video. So first of all, key level from the weekly chart. As we approach towards this area, we end with the bearish divergence. Hint— sorry, hints that the buyers are Possibly running out of steam. Watching on a daily chart, the way I saw that we had three waves to the downside with two waves correction. These two waves correction ended with a bearish hidden divergence as well, which again is a key sign. Okay, three waves down, three lower highs, lower lows. Likely hint that currently the sellers are in the market. Besides that, we do have lower lows created and between these two lows, right? So the uptrend likely shifting. Now I don't know if it's going to be for a long-term change or maybe just a correction, right? But I do know that at that moment the sellers are likely in control. Besides that, I have my two swing highs here. Been retested and this area is also holding. Classical combination of bearish facts at the moment. And when we go to the 4-hour chart, and as you can see here, I have my False Break Convergence indicator, which you can find all the information about it below this video in the pinned comment. What we have here is a fake high. So we have these highs fake high to be created, founded and basically confirmed by a bearish divergence, and then the shift to lower lows on the chart and on the MACD histogram, completing and creating a bearish convergence. For me, that's a classical multi-timeframe bearish analysis and therefore my bearish idea, which was exactly as is. As long as the high, the most recent high the market managed to create or the buyers managed to create, as long as it holds, I would be looking for a sell. And that was pretty much it. As per step number 2 in trading, it's always your entry strategy. Okay. There are endless amount of strategies. Many traders fall in this very place where they believe a strategy is all they need in trading. That might be true, but from my point of view, it's a missing truth. It's partial truth because strategy for what? Strategy is not just how to enter trades. Strategy is also the preparation before and also strategy to manage your trades. Okay, and it's very important to understand that because most traders fail and fall exactly in this trap. They believe if they watch whatever the indicators or price action or patterns or whatever, but as long as they have this one thing on the chart, bam, they have a trade. Okay, trading, it's not just to enter a trade. Is driving only about entering the car? No, right? Basically, same with trading. You are in full control from before you enter in a trade, as you enter in a trade, and until you are out of the trade. You are in full control. And step number 2 is always the strategy for entry. Now, for me, convergence is One strategy I try. So at the moment I saw the convergence, I can either attack right away if the risk-reward is in my favor, or with a little pullback and improving the risk-reward, jump in as the pullback happens. And as long as the most recent high, uh, is there and the invalidation plan did not trigger. And that brings me to step number 3. But before I go to step number 3, I would like to ask your help. I need to have some sort of indication if these videos are helpful and useful for you. So I would like you to— I would like to ask you to hit the like button, this big like button that you have right below the video. And also, if you are new to the channel, I would like to invite you to subscribe to us and enjoy from all the available content, education and trading content we upload here for you. So thank you very much in advance for your help. For me, it would be indication to know if these videos are useful for my viewers and if I should bring more of these videos in the future. And that brings me to step number 3, and this is the management, right? The final step of trading. Now, there are also many different ways to manage your trades. For me, I use the same techniques for entries and for exits, which means multi-timeframe levels analysis, waves analysis, Followed and confirmed by divergences and convergences. I prepared the levels in advance. In this case, what I was looking at, basically you can see this level marked on the original trading idea. And the reason is we have few lows here together with daily and 4-hour chart key trading levels based on volume analysis. And this is directly from my KTL indicator, Key Trading Levels indicator. You can find all this information about this indicator right below this video in the description as well. So for me, this is a classical opportunity. So, okay, risk reward in my favor, first target. And unless there will be signs that will tell me that I better get out of the trade before the level is reached, I will look to get my profits around this level. And the final target for this trade for us was around 150, which again, in the original video which I shared with you on the top, on the right top corner of this video or below in the description as well, you can find the full explanation for this video. So the 150 and even slightly lower was our final destination. And the reason for that is basically— I clicked it— uh, is basically as we have a lot of important buys and sells on here. Okay, so that's why I was aiming first of all to get here in the first area as per the targets. We got it quickly, and the final one was to ride all the way here, which again was reached quickly. And even if I would aiming to get it down, as soon as I saw this divergence formed, all the indications around the key level, I would anyway close my trade. So step number 3 is always the management. Set your targets. Make sure that the initial starting point is in your favor. Meaning you aim to take more than you risk. And the reason you need that, at least initially, is even if the market rides and signs start to appear against you and you need to manage the trade before you planned, the risk reward would still be in your favor. Because if you start with a 1 to 1 risk reward and after halfway there are signs already step out, it would be a hard decision to get out or not if the risk reward is not in your favor. But if you start the trade with 1:2 risk reward or 1:3 risk reward, and then after 1:1 or 1:2, you got your signs before the target reached, signs to get out, then you still have your, uh, um, risk management in your favor. Okay, and the risk-reward works in your favor and not the vice versa. Okay, so these are the 3 key steps, uh, the way I see that, to successful trading, really successful trading. Preparation, strategies for entry— by preparation I mean technical analysis technique. Okay, uh, the strategies to enter, there are endless amount of strategies how to enter trades, and you must feel comfortable with the strategies you work with. For myself, it's multi-timeframe based on divergence convergence, uh, strategies on specific levels. I teach all my strategies in Traders Academy Club. I invite you to join us and to learn all these techniques. And step number 3 is how to get out of a trade. Okay, and a very important tip here before the end of the video: stay loyal to your techniques for preparation, for entries, and for management. If you rely on the chart to enter a trade, rely on the chart to take you out of the trade. Unfortunately, a lot of traders, what they rely on is the green number they see in their platform. Oh, few pips, let's make the money, let's take the money. Why? There is no way you will be able to do successful trading if you keep doing that. And if you did this mistake, make sure you don't repeat these mistakes, because repeating the same mistake over and over again, well, kind of ridiculous. So it will never change your trading. So make sure you are aware of that and you rely on your charts and your techniques to get out of the trade. That's pretty much it for this video. That's what I wanted to talk about and to cover. So thank you very much for your time watching this video. I hope it was helpful, useful, and educational. And I would like once again to invite you to join our family and to learn the best of our techniques, if it's for technical analysis, if it's for the strategies, or if it's for the management, and to enjoy from our real-time trading ideas delivered to you, um, as a Traders Academy Club member. Thanks for your time, stay safe, all the best.