Session #12 Trading in

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Walter McGee
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1 Forex System Development Workshop Session #12 Trading in Title the goes Lion s hereden

2 FX Renew Disclaimer The information on this site is not directed at residents in any country or jurisdiction where such distribution or use would be contrary to local law or regulation. This website is owned and operated by FX Renew Pty Ltd ABN the holder of an Australian Financial Services Licence (AFSL) to carry on financial services business in Australia, limited to the financial services covered by its AFSL no Any advice included in this webinar is general advice only and is based solely on consideration of the investment or trading merits of the financial products alone, without taking into account the investment objectives, financial situation or particular needs (i.e. financial circumstances) of any particular person. Before making an investment or trading decision based on the general advice, the recipient should carefully consider the appropriateness of the advice in light their financial circumstances and should carefully review the FSG and terms and conditions of this website. FX Renew is not liable for any loss or damage, including without limitation, any loss of profit, which may arise directly or indirectly from the use of or reliance on such information. Past results are not a guarantee of future performance. RISK DISCLOSURE: Trading foreign exchange carries a high level of risk, and may not be suitable for all investors. The high degree of leverage available can magnify profits and as well as losses. You can lose more than your initial deposit. Before trading, please carefully consider the risks and inherent costs and seek independent advice as required. Please contact us, to discuss any questions or concerns you may have, we are here to help.

3 Welcome G day, Howdy, Guten Tag, Ni Hao, Вітаю, Hallo, Konnichiwa, Chào and welcome to session #12 of the Forex System Development Workshop.

4 Live and Interactive Don t be a Shy Sally or a Bashful Barry, ask questions, take your time.

5 Review of Session #11 Build a set of processes that keep you in sync with the market and allow you to trade what s in front of you.

6 Review of Session #11 A rule is something like Buy when the 20 period moving average crosses the 50 period. In contrast, an example of a process would be the set of actions you take to examine the market for a low-risk idea based on your objectives, principles and market model.

7 Review of Session #11 A discretionary trading system is not a simply a set of rules. It encompasses objectives, principles, a market model, processes and risk management guidelines.

8 Questions About Previous Sessions

9 Forex System Development Workshop Title Trading goes here in the Lion s Den

10 System Development is 100% Psychology Van Tharp said you trade your beliefs about the markets. You also trade your emotions and feelings. Success depends on how well you cope. Beliefs Mental states Mental strategies (from Van Tharp)

11 Why is Psychology So Important to System Development Because mistakes and missed opportunities kill trading systems.

12 Types of Mistakes Failure to follow your rules/processes/principles Failure to execute your trades Trading errors such as trading the wrong size Failure to see what's in front of you (missed opportunities, failure to exit) Failure to adapt your system to a changing market Failure to change yourself

13 Developing a Robust Trading Psychology Trading processes Core trading skills Mindsets Goal setting for peak performance Mental state management Mental rehearsal Mind, body and soul

14 Your Psychology is a Natural Extension of Your Systems Processes Your objectives, risk management, daily tasks (low-risk idea identification, etc.) are the framework for a robust trading psychology.

15 Focus On Your Core Skills It is perfect execution of these basic trading skills that will generate your results. Focus your attention on trading well and the results will take care of themselves.

16 Mindsets for Discipline Trading is a game Money is not important Don t care if you win or lose on a trade Trading is like rolling a dice loaded in your favor The next trade is the first in the next 1000 Learn more: FCST Lesson #15

17 Mindsets for Humility Being wrong is acceptable but staying wrong is totally unacceptable It s not about being right: it s about how much money you make when you are right The mind is like a parachute; it s only good when it s open Learn more: FCST Lesson #15

18 Goal-setting as a Performance Tool Goal setting is a management tool for peak performance. Setting stretch goals makes you more creative and focused. Learn more: FCST Lesson #17

19 Set the Goal then Forget the Goal After you have set the goal in the preparation phase you then detach from the goal in the execution phase. A burning passion coupled with absolute detachment is the key to all success. - Mahatma Gandhi ( ) Learn more: FCST Lesson #17

20 A Peaceful Mental State When executing your system, you want to be focused on the present and in a relaxed state of mind. This state allows for clarity in the decision-making process, non-consensus thinking and immediate action during high-pressure situations. Learn more: FCST Lesson #16

21 When to Get in the Zone Prior to making any trading decisions is when you need to be in your peak trading state.

22 Mental Rehearsal Prepare in your mind s eye before the event. Go though a blow by blow mental rehearsal before you trade. Learn more: FCST Lesson #17

23 Mind, Body, Soul Take care of yourself to achieve peak performance. Put in place a self-development plan for continuous learning Keep the mind clear through meditation Reduce tension through stretching, healthy eating, exercise Make gratitude a daily practice Learn more: FCST Lesson #16

24 Forex System Development Workshop The end is only the Title goes beginning here

25 Discussion Point #1 Where to from here: Complete the remaining course-work. Trading is a journey of self mastery but it s about making money too. Focus on your best idea first simplify your trading.

26 Discussion Point #2 On going live.

27 Discussion Point #3 The Forex System Development Workshop is on-going. Expect upgrades, repeats of previous sessions and new traders sharing their approach to the markets.

28 Discussion Point #4 Please in your feedback about the workshop.

29 Forex System Development Workshop Questions, Queries, Title goes Feedback here

Forex System Development Workshop. Traders #5: with Joe Papa.

Forex System Development Workshop Traders #5: Title goes Trading hereand Working with Joe Papa www.fxrenew.com FX Renew Disclaimer The information on this site is not directed at residents in any country