Forex Trading Tutorials For Beginners (Live Forex Trading Examples)
If you're looking for a step-by-step forex trading tutorial for beginners, then look no further. In this video, I'm going to let you watch right over my shoulder as I trade the global foreign exchange markets on a live forex trading account with real money, using FXMindTrix Academy's proven, trend-following, forex trading strategy, like you've probably never seen before. And not only am I going to let you watch me squeeze hundreds of pips worth of profits out of the forex markets with this live forex trading examples, but I'm also going to let you see exactly how I manage my losing forex trading positions using a bulletproof risk management technique, which is designed to help you make money through forex trading, even if you were to lose 6 out of 10 trades on average. So sit back, relax and watch this video from start to finish, if you would like to learn exactly how to make money online through forex trading. [Music] Hello there and welcome to another video my name is Anas Abba and I'm a forex trading coach over at FXMindTrix Academy, where we teach forex traders just like you, exactly how to become consistently profitable forex traders using simple and easy to follow forex trading techniques. If this is your first time here and you'd like to learn how to become a consistently profitable forex trader, start now by clicking on the subscribe button and hitting the bell icon so that you'll get notified every time we publish amazing new content such as the one you're watching right now.
Now with that out of the way, let's jump right into the meat and potatoes of this video, shall we? The forex trading strategy which we're going to be using to find low risk, high probability forex trade setups in this video, is a trend-following, forex trading strategy, which I made a one-hour long video a while ago showing you exactly how to use it to find trade entry and exit levels. If you haven't watched that video yet, pause this one, and click on the card which is being displayed on the screen now, or the related video link in this video's description box, then go and watch that video and come back to watch this forex trading tutorial video, which is simply a collection of live forex trading examples of trades which I took using the trend-following, forex trading strategy which you're going to learn in that video. But if you've seen that video and you're ready to watch the live forex trading examples of the trades which I took using the forex trading strategy which I revealed to you inside it, feel free to follow along as I get my hands dirty, trading the foreign exchange markets using real money on my live forex trading account.
The first trade which we're going to be talking about is a short forex trading position which I took on the USD/CHF currency pair, following the rules of our trend-following, forex trading strategy. As you can see on the screen I've had an open, short trading position on the USD/CHF currency pair, for about a couple of days now. The reason why I took this short trading position is simply because I identified a bearish trend on the daily timeframe of the USD/CHF currency pair about a couple of days ago. I arrived at the conclusion that the direction of the trend on the USD/CHF's daily chart was bearish, because price crossed and closed below the three, 60 - period simple moving averages on the currency pair's daily timeframe, satisfying the first step of our forex trading strategy.
If you take a close look at the chart which is being displayed on the screen now, you'll notice that the blue line of the ADX indicator also crossed above the horizontal line which was placed at the indicator's 25 level mark, signaling to us that the bearish trend which we just identified on the daily chart of the USD/CHF currency pair is a strong trend. Once I saw this, I simply cranked down to the four - hour timeframe of the USD/CHF currency pair to confirm the validity of the bearish trend which I identified on the currency pair's daily timeframe, since that's what I was supposed to do according to the rules of our trend-following, forex trading strategy. As you can see on the screen, price was also trading below the three, 60 - period simple moving averages which were added onto the four - hour chart of the USD/CHF currency pair. And this is exactly what I was looking for in order to confirm that the direction of the trend on this currency pair, was actually bearish. So all that was left for me to do at that point, was to simply crank down to the one hour chart of this currency pair, to start looking for low risk, high probability short forex trade setups, in the direction of the bearish trend which I was able to successfully identify and confirm on the pair. On the one-hour chart of the USD/CHF currency pair, price had already crossed and closed below the three, 60 period simple moving averages. Therefore,
I only needed to wait for price action to lead to the formation of a down fractal, which would help me to identify the exact price level where I would be getting into the market with a short trading position on this currency pair, after its successful bearish price crossover. And that's exactly what happened a couple of hours later. Once I saw this down fractal get formed on the one-hour chart of the USD/CHF currency pair, I placed a sell stop pending order to get me into the market with a short trading position on the pair, a couple of pips below the lowest price of the candlestick which led to its formation.
I did that because that is exactly what I was supposed to do, according to the trade setup identification rules of our trend following, forex trading strategy. As a side note, you always want to wait for two candlesticks to close after an up or down fractal gets printed onto your price charts because those fractals could easily disappear if price were to move beyond the highest or lowest price points of the candlesticks which led to their forrmation. But that's not going to happen when you wait for two candlesticks to close on the right hand side of the candlestick which had an up or down fractal printed either above or below it on your forex price charts. So take note. Once I identified the price level where I wanted to get into the market with a short trading position, I immediately proceeded to looking for the exact price level where I would be placing a stop loss order for the short trading position which I wanted to take, using the 60 period simple moving average which was applied to prices' high on the one-hour timeframe of the USD/CHF currency pair. As you can see on the screen, when I hover my mouse's cursor over the stop loss order for this short trading position, you'll notice that I'm risking about 57 pips on it at the moment. Therefore, I placed my profit target at a price level which ensured that I was aiming for a profit which was twice the number of pips which I was risking on this live forex trading position, in line with the trade setup identification rules of our trend following, forex trading strategy.
And this is why you'll notice that the profit target which I set for this trading position, is actually about 114 pips away from the trade's entry level. At the moment, my short trade on the USD/CHF currency pair is sitting on about 67.7 pips of floating profits. And just so you know, I'm only risking one percent of my forex trading account's capital on this trading position, in line with the risk management rules of FXMindTrix Academy's trend-following, forex trading strategy.
Now since price is still yet to hit the profit target or stop loss which I set for this trading position I'm going to have to sit on my hands and wait and see if price is going to take me out of the market with a profit or loss on this trading position. So it's now been a couple of hours since I gave you an update on the short trading position which I took on the USD/CHF currency pair. And as you can see on the screen, price is gradually approaching the profit target which I set for the short trading position which I took on this currency pair. My short trading position on the USD/CHF, is sitting on a little over 90 pips of profits at the moment.
And since the profit target which I set for this trading position is about 114 pips away from the trade's entry level, price only needs to move about 24 more pips in the trade's favor, for it to hit its profit target. But I would like to also point out to you that price could easily decide to reverse against this trading position to hit its stop loss order. There's really no way for us to know what price is going to do next.
And this is one of the reasons why you NEVER want to risk more than one percent of your forex trading account's capital on any single trade, no matter how much confidence you've got in the performance of your forex trading strategy. Average retail forex traders like you and I, will probably never know which one of our trades are going to turn out to be losing trades and which ones are going to turn out to be winners. We've got no choice but to wait and see if price is going to end up hitting our stop losses or profit targets. Alhamdulillah! After waiting for what seems like forever, prices finally hit the profit target which I set for the short trading position which I took on the USD/CHF currency pair a couple of days ago. And since the forex trading strategy which I used to identify this trade setup has a default risk to reward ratio of one is to two (1:2), this trade ended up bringing in a profit which was about two percent of my trading account's capital when price decided to hit the trade's take profit order.
If I stick to the risk management rules of our trend-following, forex trading strategy, and risk no more than one percent of my trading account's capital on each trade I take, it'll take two losing trades to wipe away the profits from one winning trade. So in a nutshell, if you were to take 100 trades using the forex trading strategy which you just saw me use to trade the foreign exchange markets in this video, and you wound up losing 50 trades and winning 50 trades, you will end up with a net profit of about 50 percent, even though you only had a 50 percent win rate. And in case you didn't know, you do not need a forex trading strategy with a 100 percent win rate to make money in this business.
You just need a forex trading strategy that's got an edge over the markets and a modest win rate, sound risk management, and the discipline to follow the rules of that forex trading strategy, through good and bad times without doubting its performance. It's really that simple. The second trade which we're going to be talking about is another short forex trading position. I actually took the short trading position which I'm about to show you on the EUR/USD currency pair, following the trade setup identification rules of FXMindTrix Academy's trend following, forex trading strategy. If you take a close look at the chart which is being displayed on the screen now, you'll notice that I've got an open short trading position on the EUR/USD currency pair at the moment. I actually opened this short trading position simply because all of the trade entry requirements of our trend-following, forex trading strategy were met on the currency pair's daily, four-hour, and one-hour timeframes. As you can see
on the screen, price made a successful bearish crossover on the daily timeframe of the currency pair just a day ago. And for those of you who don't know what a bearish crossover is, a bearish crossover is the term which I use to refer to price crossing and closing below the three, 60 - period simple moving averages on any timeframe. On the other hand, a bullish crossover, is the term which I use to refer to price crossing and closing about the three, 60 - period simple moving averages on any timeframe, according to the low risk, high probability trade setup identification rules of our trend-following, forex trading strategy. As you can see on the screen, price successfully crossed and closed below the three, 60 - period simple moving averages on the daily timeframe of the EUR/USD currency pair signaling to us that the direction of the long-term trend on the daily timeframe of the currency pair is actually bearish at the moment. The bearish price crossover on the daily timeframe of this currency pair was also backed by a corresponding cross of the ADX indicator's blue line above the horizontal line which was placed at the indicator's 25 level mark, signaling to us that the bearish trend which we've just identified on the daily timeframe of this currency pair has the potential to become a pretty strong bearish trend. As a result of this, all that was left for me to do according to the rules of our trend-following, forex trading strategy, was to simply crank down to the four-hour timeframe of this currency pair to confirm the validity of the bearish trend which I just identified using its daily timeframe.
As you can see on the screen, price also made a successful bearish crossover below the three 60 period simple moving averages on the four hour timeframe of the EUR/USD currency pair, confirming to us that the direction of the short-term trend on this currency pair's four-hour timeframe is also bearish at the moment. And this is the reason why I proceeded to its one-hour chart to find low-risk, high-probability short-trade setups in the direction of the prevalent bearish trend. So I've just cranked down to the one hour timeframe of the EUR/USD currency pair. And as you can see on the screen, I entered into the market with a short trading position on this currency pair only a couple of pips below the lowest price of the candlestick which led to the formation of the most recent down fractal on the 1 hour chart, in line with our strategy's trade entry rules. When I hover my mouse's cursor over the stop loss order of the short trading position which I took on this currency pair, you'll notice that I placed its stop loss order about 76.1 pips away from the trade's entry level.
I actually placed it stop loss at the price level where the 60 - period simple moving average which was applied to prices' high was located at, right after I identified the price level where I would be getting into the market with a short trading position on the currency pair. And since the distance between the stop loss and the entry level for the short trading position which I took on this pair is 76.1 pips its profit target needed to be placed about 152.2 pips away from the trade's
entry level, according to the rules of our trend following, forex trading strategy. But I think I made a mistake here. The take profit order for my short forex trading position on this currency pair is only 135.9 pips away from the trade's
entry level, instead of 152.2 pips. So let me quickly adjust that now. Awesome! Now that the take profit order for this short trading position is exactly where it needs to be, that is, 152.2 pips away from the trade entry level for this short trade which I took on the EUR/USD currency pair according to the rules of our trend following, forex trading strategy, all that's left for me to do now is to simply wait for price to either hit the stop loss or profit target which I set for the trading position.
Unfortunately, this time around I lost one percent of my trading account's capital on the short trading position which I took on this currency pair, when price reversed against it and hit it's stop loss order which was about 76.1 pips away from the trade's entry level. But there's nothing to worry about since I was only risking one percent of my trading account's capital on this trade. Moreover, since our trend-following, forex trading strategy requires us to always aim for a profit target which is twice the amount of money which we're risking on each and every trade which we decide to take, I only need to take one winning trade to recover the money which I lost from this losing trade. So there's really nothing to worry about at this point. I just need to keep trading according to the risk management and trade setup identification rules of our trend following, forex trading strategy, and I'm going to end up with a positive return on investment after taking a large number of trades, insha Allah.
The third live forex trading example which we're going to be talking about is a long trading position which I took on the GBP/CHF currency pair. As you can see on the screen, price successfully crossed and closed above the three, 60 period simple moving averages on the daily timeframe of the GBP/CHF currency pair, which is simply telling us that the direction of the long term trend for this particular currency pair is actually bearish at the moment. And the blue line of the ADX indicator has also crossed above the horizontal line which was placed at its 25 level mark, signaling to us that the bullish trend which we just identified on the daily timeframe of this currency pair has got the potential to become a pretty strong trend. As soon as I identified the direction of the long-term trend for this currency pair using its daily timeframe, I immediately cranked down to its four-hour chart to confirm the validity of that long-term trend, in line with the rules of our trend-following, forex trading strategy.
As you can see on the chart which is being displayed on the screen now, price also made a bullish crossover above the three, 60 period simple moving averages on the four-hour chart of the GBP/CHF currency pair, confirming the bullish long-term trend which we just identified on the currency pair's daily timeframe, moments ago. Therefore, in line with the trade setup identification rules of our trend-following, forex trading strategy. I immediately switched to the one hour chart of the GBP/CHF currency pair to look for long trade setups in the direction of the prevalent bullish trend. On the pair's daily and four-hour timeframes. After cranking down to the one-hour chart of the GBP/CHF currency pair, I placed a buy stop pending order to get me into the market with the long trading position a couple of pips above the highest price of the candlestick which led to the formation of the most recent up fractal which I found on the one hour timeframe of the GBP/CHF currency pair at that particular moment in time. But
truth be told, my buy stop pending order was placed a couple of pips above the highest price of this particular candlestick, because an up fractal was printed above it at that particular moment in time. However that up fractal was not a confirmed up fractal at that time since I didn't wait for two candlesticks to close with a high price which wasn't as high as the highest price of the candlestick which had that up fractal printed above it. As a result of this, that up fractal ended up disappearing as soon as price moved above the highest price level of the candlestick which had the up fractal printed above it.
And this is the reason why I tell you guys to always wait for two candles to close on the right hand side of a candlestick which an up or down fractal is printed on, because that will ensure that those fractals will not disappear when price moves beyond their highest or lowest price points. Okay. Moving forward. My buy stop pending order on this currency pair got triggered when price decided to move past the highest price level of the third candlestick in this swing high's formation, causing the up fractal which was printed above it when my buy stop pending order was placed to disappear. But before that happened, I actually placed a stop loss order for the buy stop pending order which I placed on this currency pair, at the price level where the 60 period simple moving average which was applied to prices' low was located at, immediately after I identified the trade entry level for my buy stop pending order. As you can see on the screen, the stop loss order for my long trading position on this currency pair was placed about 85.5 pips away from the trade's entry level.
Therefore, its profit target would need to be placed about 171 pips away from the trades entry level, since the rules of our trend-following, forex trading strategy requires us to always aim for a profit target which is twice the number of pips which we're risking on each trade we take. A couple of hours have passed since I last gave you an update on the long trading position which I took on the GBP/CHF currency pair. Now even though price almost hit the stop loss which I set for this trading position, it actually ended up reversing and moving in favor of the trade.
The long trading position which I took on this currency pair is currently sitting on a floating profit of about 130 pips at the moment. In fact, price is only 40 pips away from the trade's profit target, which was actually placed about 170 pips away from its entry level. All that's left for me to do at this point, is to simply wait for price to either hit its profit target to take me out of the market with a profit which would be about two percent of my trading account's capital, or reverse against it to hit its stop loss which would take me out of the market with a loss of about one percent.
That's pretty much all I've got to report about the long trading position which I took on the GBP/CHF currency pair. In this forex trading tutorial for beginners video, the fourth live trading example which we're going to be talking about is the short trade which I took on the AUD/JPY currency pair. As you can see on the screen, price has crossed and closed below the three, 60 period simple moving averages on the daily time frame of the AUD/JPY currency pair, and the blue line of the ADX indicator has also crossed above the horizontal line which was placed at the indicator's 25 level mark. All of these signals are simply telling us that there's a pretty strong downtrend on this currency pair at the moment.
As soon as I saw these signals, I immediately cranked down to the four hour timeframe of the AUD/JPY currency pair, to confirm the validity of the bearish long-term trend which I identified on the daily timeframe of the currency pair, in line with the trade setup identification rules of our forex trading strategy. As you can see on the screen, price also made a bearish crossover on the four-hour timeframe of the AUD/JPY currency pair, confirming the validity of the bearish trend which I just identified on the pair, using the price chart of its daily timeframe. Therefore, in line with the trade setup identification rules of our trend following, forex trading strategy, I immediately cranked down to the one hour chart of this currency pair, with the intention of finding low risk, high probability short trade setups which I could take advantage of.
As soon as I cranked down to the one hour timeframe of the AUD/JPY currency pair, I placed a sell stop pending order to get me into the market with a short trading position on the currency pair, about a couple of pips below the lowest price of the most recent swing low which I found on the currency pair's one hour timeframe, at that particular moment in time. The most recent swing low on the one hour chart of the AUD/JPY currency pair was indicated by this particular down fractal on the one hour chart of the AUD/JPY currency pair, since all of these other fractals hadn't been formed yet. And right after that, I placed the stop loss order for that sell stop pending order, at the price level where the 60 period simple moving average which was applied to prices' high was located at, immediately after I identified the trade entry level for my sell stop pending order.
My short trading position on the AUD/JPY currency pair, is currently sitting on about 47 pips of floating profits at the moment. And when I hover my mouse's cursor over the stop loss order for this short trading position, you will notice that its stop loss order is about 76 pips away from the trades entry level. And since I'm risking 76 pips on this trading position, its profit target needs to be placed about 152 pips away from the trades entry level, according to the rules of our trend following, forex trading strategy. It's now been a couple of hours since I last updated you with a progress report on the short trading position which I took on the AUD/JPY currency pair. The short trading position which I took on this currency pair, is currently sitting on a floating profit of about 117 pips at the moment.
And since the profit target which I set for this trading position is about 152 pips away from the trade's entry level, price would only need to move about 35 more pips in favor of my open, short trading position on the currency pair for it to hit its profit target. But whether price is going to decide to do that or not is beyond my control now. I will just have to wait and see if price is going to end up hitting this trading position's profit target to take me out of the market with a two percent profit or maybe even hit its stop loss order which would cause me to incur a loss of about one percent of my forex trading account's capital. And that's pretty much all the gist there is about this short trading position which I took on the AUD/JPY currency pair. The fifth live forex trading example which we're going to be talking about is another short trading position which I took on the USD/CHF currency pair, I actually took this short trading position immediately after the short trade which you saw me take on the USD/CHF currency pair a while ago in this video, hit its profit target.
As you can see on the screen, even though my previous short trading position on this currency pair has hit its profit target, price was still trading below the three, 60 period simple moving averages on the currency pair's daily timeframe. And if you take a close look at the chart which is being displayed on the screen, you'll notice that the blue line of the ADX indicator is still rising above the horizontal line which was placed at the indicator's 25 level mark, signaling to us that a downtrend still exists on this currency pair. If the blue line of the ADX indicator was sloping to the downside, I wouldn't have taken the short trading position which I took on this currency pair, even if the blue line of the ADX indicator was above the horizontal line which was placed at its 25 level mark. When I cranked down to the four-hour timeframe of the USD/CHF currency pair, I noticed that the direction of its short-term trend was also bearish since price was still trading below the three, 60 period simple moving averages on the currency pair's four-hour chart.
And this was the reason why I proceeded to its one-hour timeframe to look for low risk, high probability trade entry and exit levels in the direction of the established downtrend which I identified on the currency pair's daily and four-hour charts. As you can see on the screen, I got into the market with a short trade on this currency pair, a couple of pips below the lowest price of the most recent swing low when I cranked down to its one-hour chart, immediately after all of the trade setup identification rules of our trend trading strategy were met on its higher timeframe. And in line with the rules of our trend following, forex trading strategy, I placed a stop loss order for this short trading position at the price level where the 60 period simple moving average which was applied to price's high was located at, right after I identified the trade's entry level.
When I hover my mouse's cursor over the trade's stop loss order, you'll notice that its distance from the trades entry level is only about 21.1 pips. Therefore, according to the rules of our trend following, forex trading strategy, this trades profit target would need to be placed about 42.2 pips away from its entry level, for us to be able to maintain the 1:2 risk to reward ratio which our forex trading strategy requires of us.
Having done all of this, all that was left for me to do was to simply sit on my hands and wait for price to either hit my short trades profit target or stop loss order. Unfortunately, price ended up reversing against the short trading position which I took on this currency pair and hitting its top loss order to take me out of the market with a loss of about one percent of my trading account's capital on this particular trading position. Now even though this trade was a losing trade, it definitely wasn't a bad trade since I lost the trade while I was following all of the rules of my forex trading strategy.
However if I had taken my profits too early, I would have considered this trade as a bad trade even though I would have gotten out of the market with some profits on it. Simply because I wouldn't have followed the rules of my trend-following, forex trading strategy. The reason why I follow the carefully crafted rules of my trend-following, forex trading strategy through good and bad times is simply because I know that they're going to protect me from making dumb trading decisions and they're also going to help me make money through forex trading over the long run because they give me an unfair advantage over the markets, just like the advantage which casinos enjoy over their players. My advice to you would be to set a goal of taking at least 100 trades using this forex trading strategy before trying to assess its trading performance.
And to help you accomplish this task, I actually created a private facebook group where newbies who're struggling, and experienced forex traders who are making a killing with the forex trading strategy which I just showed you in this video, can hang out and help each other to become consistently profitable forex traders. One of the reasons why I did this, is because I know how much of a lonely business forex trading can be when you're trying to go at it all by yourself. Fortunately, you're not going to need to spend a fortune on low quality online courses or countless hours trying to figure out how to make money through forex trading when you join our vibrant community of forex traders over at fxmindtrixacademy.com/community fxmindtrixacademy.com/community So what would you rather do? Are you going to commit to this forex trading strategy and take at least 100 trades with it and prove to yourself that it actually works or are you just going to dump it after you encounter a losing streak, in search of the next best no loss forex trading strategy which you're probably not going to find anyways. I'd love to hear what you intend
to do in our private forex trading community over on facebook. So do yourself a favor and take that life-changing step towards becoming the consistently profitable forex trader which you've always wanted to become by heading over to fxmindtrixacademy.com/community fxmindtrixacademy.com/community or just clicking
on the link in this video's description box below. I'm pretty sure you're not going to regret it. In the meantime, if you would like to learn how to make money online through forex trading working less than four hours a week from anywhere in the world, head on over to fxmindtrixacademy.com/blueprint
fxmindtrixacademy.com/blueprint or click on the link in this video's description box below to get instant access to the pdf guide and exclusive video training which is going to show you exactly how to do that right away. And now it's over to you. Since you've now learned how to find entry and exit points using our powerful low risk, high probability forex trading strategy, let me know which one of these currency pairs you're going to take your 100 trades on using our forex trading strategy in the comments' section. Are you going to take your first 100 trades on the AUD/USD currency pair or the GBP/USD currency pair? I'd love to hear your thoughts in the comments' section of this video below but if you would like to learn exactly how to find low risk, high probability forex trade setups using the trend-following, forex trading strategy which you just saw me use to trade the live foreign exchange markets in this video, click on the video which is being linked on the screen now. And while you're at it, don't forget to subscribe to this channel and click on the bell icon to get notified whenever we upload more actionable, live forex trading tutorials just like this one. Thanks a lot for watching this video.
See you in the next one!
2021-02-25 07:41
