See these tools & methodology used in practice, Join Michael for his Weekly Strategy Webinar on Monday mornings.

Foundation of Technical Analysis Series- Click here for the complete series and webinar archives

In this episode of our bi-weekly webinars series on the Foundations of Technical Analysis, we discuss the three core concepts of a basic trade setup. Having a bias is only half the game –knowing how much to risk (stops), what size and when to trade can make-or-break a strategy. Building confidence comes over time and staying discipline to these core principles can help in maintaining a more objective approach to trading.

Topics discussed include:

  • Remaining Disciple with your Risk / Reward Ratio
  • Calculating Proper Position Size
  • Timing – Knowing When to Trade (opening range concept)
  • Maintaining a Proper Trading Mindset
  • Keeping a trade book
  • Fundamentals vs Technicals
  • Q&A Session

Click here to download the Lot Size Calculatorused in today's webinar.

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We also reviewed live setups and key technical levels on AUDUSD, USDCAD, GBPUSD & USDJPY that further exemplify some of the principles discussed today. Join us for the next Foundations of Technical Analysis Q&A webinar where we’ll take the entire session to answer your questions on trading. Click here to register free!

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---Written by Michael Boutros, Currency Strategist with DailyFX

Follow Michaelon Twitter @MBForex contact him at mboutros@dailyfx.com or Click Here to be added to his email distribution list.