Day Trading with Steve Title goes Lucas here

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1 Forex System Development Workshop Day Trading with Steve Title goes Lucas here

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 #6 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 Forex System Development Workshop Title Day goes Trading here with Steve Lucas

6 About Steve Lucas Tell us a little bit about your background and trading career. How did you get started? What have you done? Etc.

trading in Sydney and London Moved to DRKW in 2001 in a research and technical

7 About Steve Lucas Started trading in 1979 Moved to Australia to run a Swiss book Spent some time in LA Took over an AUDUSD book Ran CBA New York office Then prop trading in Sydney and London Moved to DRKW in 2001 in a research and technical analysis team of four Encouraged by clients to start own firm in C Analysis

8 Trading Style Describe your general approach to trading and how you structure your trades.

9 Trading Style My strength is short-term I like to catch the first European move from 7am open to 9am Analysis continues during the day Asian moves are usually wrong Not swayed by news releases or events Let the charts, price action, volume and open interest speak Use statistical data and correlations Have a view out to three months but for the most part focus on day trades

10 Technical Set-up Conditions What technical set-up conditions do you look at before you enter a trade?

11 Technical Set-up Conditions Have favourite set-ups but look to make a call on the open for each market covered For the FX Renew signal, I select my favourite of the day and Sam confirms it Favourite candlestick pattern is a Spring Hammer/Shooting Star Medium term looking for a trend (higher lows or lower highs) Long-term is a combination of Head and Shoulders. Evening/Morning Star and DMI (a statistical tool)

12 Fundamental Set-up Conditions What fundamental set-up conditions do you look at before you enter a trade?

13 Fundamental Set-up Conditions I try to ignore fundamentals but will take into account when opening and closing positions, so I always know what is released and when, and what I think the potential implications of a miss will be.

14 Timing Your Entry What do you use as your entry point?

15 Timing Your Entry Use the 7am open for FX Not ideal but forces me to be proactive Clients will often enhance entries and exits levels with their own analysis

16 Stop-loss and Trailing Stops Where do you place your stop-loss and how do you trail your stop?

17 Stop-loss and Trailing Stops The most important thing in any trade is to have a stop I use cut-off times for trades My favourite stop is Fibonacci based, as is the trailing stop Constantly watching for a turn and will exit on a sell signal

18 Exits What is your exit strategy?

19 Exits Not text book Take 1/3 of fairly quickly As the trade reaches break even, raise the stop The second 1/3 at the main target around 2:1 RR Let the final 1/3 run

20 Trade Management When would you scale-in or out of a trade?

21 Trade Management Totally depends on the market A couple of years ago I would rarely scale-in but always scale out Today I nearly always scale-in and out

22 News Events How do you manage your positions around news events?

23 News Events Don t have much going into news events Look to get square at 1pm on daily trades Keep position size small if a European release that is going to drive the market

24 Position Sizing How do you determine your position size?

25 Position Sizing I use a percentage of capital at risk I always view the trade in thirds. Therefore we like to deal in threes

26 Risk Management What other risk management rules do you use?

27 Risk Management Use daily, weekly, monthly drawdowns Analyse trend success After losses don t trade or keep positions small until have a handle again Which days we make or lose money

28 The Three Most Important Things What are, in your opinion, the three most important things to successful trading?

29 The Three Most Important Things Discipline Composure Use a limited number of trusted inputs (3Ca being one) Keep healthy and sleep well

30 Forex System Development Workshop Trade Examples Title goes here

31 Trade Example: Dark Cloud/ Bearish Piercing

32 Trade Example: Morning Star Insert Chart

33 Trade Example: Spring Hammer Insert Chart

34 Trade Example: Bullish Engulfing Insert Chart

35 Trade Example: Bullish Engulfing Insert Chart

36 Trade Example: Bearish Engulfing Insert Chart

37 Trade Example: Bullish Hammer Insert Chart

38 Trade Example: Bullish Piercing

39 Trade Example: Bullish Piercing Insert Chart

40 Trade Example: Evening Star Insert Chart

41 Trade Example: Morning Star Insert Chart

42 Trade Example: Dark Cloud Cover Insert Chart

43 Trade Example: Imperfect Evening Star Insert Chart

44 Trade Example: Inverted Hammer Insert Chart

45 Trade Example: Bullish Morning Star Insert Chart

46 Trade Example: Shooting Star Insert Chart

47 Trade Example: Weekly S&P Insert Chart

48 Trade Example: Yearly AUDUSD Insert Chart

49 Trade Example: Monthly Dax Insert Chart

50 Trade Example: Weekly Dax Insert Chart

51 Questions

52 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