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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.

New to Forex? Get started with this Free Beginners Guide

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.