So, now you’ve set your game plan. Let’s get started for real! In this article you’ll find everything you need to know to become a successful trader.
1. Learn the basics.
First, watch the 100 and 200 series of the Learn Forex Trading English Academy to learn the basics. Go to the IM Center (http://im.center/) and go to Academies. Then enroll for the course.
Tip: make sure to bookmark the IM Center in your internet browser for easy access.
”Don’t go swimming in the largest ocean in the world when you don’t yet know how to swim. Don’t trade on the largest financial market in the world when you don’t yet know how to trade.”
Please make sure, that when you don’t understand a video. You watch it over again till you get it. When you have any questions after watching the 100 & 200 series, please reach out to us.
Top Tip: YouTube and goLIVE videos are watchable on a higher speed (i.e. x 1,5 or x 2), which will save you a lot of time.
The 100 series
These series consist of 17 videos of about 3-7 minutes on average.
In total, it will take you about 1 hour and 15 minutes to watch these.
Watch both video’s, as it is useful to know what the differences between the Metatrader 4 app for iPhone and Android are.
- What is forex? – 2.24
- History of forex – 3.09
- What is traded in forex – 2.36
- Market participants – 2.49
- Tradingview – 7.31
- When to trade forex – 3.24
- Buy vs. sell – 3.18
- What is a pip? – 5.53
- Lot size – 5.41
- What are pending orders? – 3.56
- Bid vs. Ask – spread – 3.13
- Margin & leverage – 9.59
- 3 types of analysis – 5.47
- Time zones – 5.04
- Entering a trade of Android – 5.08
- Entering a trade on iPhone – 3.53
- Stop loss – 2.49
The 200 series
These series consist of 12 videos of about 5-8 minutes on average.
In total, it will take you about 1 hour and 35 minutes to watch these.
- Chart setup Metatrader 4 – 8.00
- What is a trend – 4.10
- Support & resistance – 7.05
- Drawing support & resistance – 7.08
- Price action – 5.45
- Trendlines – 9.14
- Pullbacks – 5.26
- Your trading window – 2.42
- The fibonacci tool – 6.49
- Understanding candlesticks – 9.16
- Confirmation checklist – 10.23
- Your trading plan – 9.26
By now, we would like you to congratulate you on finishing the required education. Let’s celebrate!
2. Master The Academy & Set Your First Demo Trade.
If you like to, you’re now ready to set your first demo trade in MetaTrader 4.
Therefore, we recommend to visit the Master The Academy (formerly Fast Start Center) site, where you can register for a free account and watch several easy-to-follow video tutorials as a great guidance to start your forex journey.
A. Pick Your Broker
Exchanging currencies in the real world can be done at currency exchange offices like GWK Travelex and Western Union. Those are offline brokers. In Forex, we use online brokers.
At the Master The Academy site, educator Manny Quinones speaks in phase 1 about setting up a broker account via Hugo’s Way, where you can use Cash App for to fund your account.
Most members of Celebrate Forex work with IC Markets, an Australian broker with low spreads (the difference between the bid and ask price). But you’re free to pick another one, for example KOT4X, FX Choice, Oanda, FXCM, HotForex or XM.
For demo purposes you could also use the default demo account on your MetaTrader 4 app. However, we recommend to demo directly with your favorite broker to get used to their settings.
To set your first demo trade, we would encourage you to use the harmonic scanner. Therefore, watch the video How to use the harmonic scanner (FRX412 – 9.01) under the 400 series to set your first trade.
B. Set a Demo Account (with IC Markets)
- Choose MT4 as your trading platform
- Use a RAW Spread/True ECN account for the lowest spreads (generally the more beneficial deal)
- Choose EUR as your currency (depending on your preference)
- Choose a 1:500 leverage
- Pick 500 or 1000 euros as your initial deposit, to make things most realistic
- You’ll receive an email from you broker with server name, login and password
- Log on to your new demo account via the MetaTrader 4 app.
– Settings -> new account -> login to an existing account
- Make sure your chart settings are set the right way; select candlesticks and make sure all other options are green (volumes, ask price line, period separators, trade levels, OHLC and data window)
3. Advanced education
After watching the 100 and 200 series, we recommend you to watch some useful videos of the 300 and 400 series.
The 300 series
These series feature 9 advanced videos. From these videos, there are 3 video’s we primarily highly recommend. These 3 videos would take you about 17 minutes to watch:
- Power of twin trading – 5.54
- Bollinger bands – 7.39
- EMA – 4.09
The 400 series
These series feature 22 advanced videos. From these videos, there are 2 video’s we primarily highly recommend. These 2 videos would take you about 25 minutes to watch:
- Elliot waves intro – 8.35
- How to trade triangles – 16.58
When watched all the above videos, you just covered over 3 hours and 40 minutes of education.
Congratulations, make sure you celebrate!
4. Manny Quinones’ Beginner’s Bootcamp
Educator Manny Quinones created an amazing Beginner’s Bootcamp for everyone who likes to have a great fundament to become a pro in the forex market. This bootcamp of 8 goLIVE courses and Manny’s site also offers an Intermediate Bootcamp and several Advanced & Specialized Bootcamp’s.
Regarding this beginner’s bootcamp, make sure to watch at least course 3 about the Cycle of Doom, Stop Loss Rules, Risk-to-Reward Ratios and Risk Management before you start live trading. This is because this video contains vital information about trading in a responsible way, which is super key in trading.
Tip: watch the video’s on double speed so you save yourself a lot of time!
5. Next Level Trading
Not to discourage you, but did you know that 95% of the forex traders lose their money? Luckily, we focus of being on the side of the 5% who actually make money from the market.
Now you may ask yourself: why are so many people losing money? Well, actually the same thing happens in another field, because did you know that 90% of business start ups fail?
“There are winners, there are losers and there are people who have not yet learned how to win.”Les Brown
Primarily, there are 2 main reason for that:
A. Not having the right mindset & psychology
Most people lose because of the fact they can’t control their emotions. Often they are greedy or impatient. Trading is 10% buying, 10% selling and 80% waiting. Actually, trading should be rather boring than exciting. If trading is very exciting for you, you may want to detach your emotions by staying rational in the market.
When you’re using your ratio it’s easy to earn money with the right risk-reward ratio (minimum 1:3) and high probability setups.
When you’re emotional it’s very easy to lose money because of greed, impatience, and so-called revenge trading.
B. Not having the right education
Most people learn forex the wrong way. We at Celebrate Forex would really like you to understand the markets as the 5% who is making money.
Actually, 1 out of 6 people (17%) are in trading or investing: 59% don’t educate themselves in a proper way, 11% take advise from someone else, while 30% let others trade or invest for them.
In order to be among the 5% of the successful traders, you actually have to do the exact opposite of what 95% of the masses do.
So, how do I become one of the 5% successful people?
Good question, that’s why we like to introduce market structure, time and price, institutional trading and smart money concepts to you, brought to you by the top educators of Steady and Tradehouse.
Easily said, these concepts are based on how the big banks trade, as they have 95% market control.
Don’t trade like the masses, trade like the banks.
The video’s down below (approx. 1 hour per video) gives you an excellent overview on understanding how to trade like a pro in a way of market structure, time & price and institutional trading. These video’s (Steady or Elite subscription needed) are brought to you by Justin Saini and John Dollery, educators of Steady.
If you like to discover more about how to trade like a sniper in the markets, make sure to check the Tradehouse course (Bounceback or Elite subscription needed).
Also, one of the beautiful things of trading the smart way is that you get access to the Tradehouse Support Group via Discord if you have Bounceback or the Elite Pack Membership.
6. Bonus series.
Of course, you could also watch the other videos of the advanced education within the Mastery Academy for an extra understanding of the forex market.
”Ask yourself if you’re one of the good people who successful people want to be around.”Les Brown
We sorted these bonus videos of the 300 and 400 series below for your convenience, in our preferred order to watch.
The 300 series (bonus)
Watching these 5 bonus videos take about 28 minutes:
1. Continuation pattern – 5.54
2. Support & resistance in depth – 4.07
3. Price reversal zones – 7.09
4. Pair crosses – 5.11
5. Pivot levels – 6.35
The 400 series (bonus)
We like to divide these 20 bonus videos into 3 parts:
Watching these 7 bonus videos take about 2 hours and 40 minutes:
1. Identifying a trending market – 4.57
2. Risk management planning – 32.47
3. Auction market theorie – 24.24
4. Balance class – 25.24
5. Elliot waves – 46.37
6. Why harmonics – 6.11
7. Harmonic entry techniques – 15.59
Watching these 4 bonus videos take about 3 hours and 7 minutes:
1. Market geometry 1 – 54.46
2. Market geometry 2 – 45.32
3. Market geometry 3 – 50.53
4. Market geometry 4 – 34.33
Watching these 9 bonus videos take about 2 hours and 12 minutes:
1. Harmonics 1 – 19.57
2. Harmonics 2 – 29.52
3. Harmonics 3 – 12.38
4. Harmonics 4 – 6.06
5. Bat patterns – 7.24
6. Gartley pattern 1 – 27.35
7. Gartley pattern 2 – 9.26
8. Butterfly patterns – 11.30
9. Shark patterns – 7.56
When watched all the bonus videos, you just did another 8 hours and 25 minutes of education!
Combined with the required and advanced education, you completed a total of 12 hours and 5 minutes!
That’s just incredible… congratulations, let’s celebrate!
6. Connect with the community
Now you understand the basics, it’s also time to engage with the IM Mastery Academy community.
Download the Telegram app for your smartphone (and computer) trough the App Store or the Google Play Store.
And subscribe to the IM Corporate Official Telegram:
Now, it’s time to find your strategy!
If you’re ready for it, you can continue to the next article.