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#XAUUSD
✅Deep retracement
✅Any buy setups we get, we going for it..
🎯 No setup, no entry
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THE COMPLETE BEGINNER’S GUIDE TO FOREX TRADING
A 90-Day Roadmap to Learning Forex Trading
Welcome to forex trading!
If you’re new to forex, this guide will help you understand the financial markets, learn how to read charts, develop a trading strategy and manage your risk.
The goal is not to become rich overnight. The goal is to become a knowledgeable, disciplined and consistent trader.
STEP 1: UNDERSTAND THE BASICS OF FOREX
Start by understanding what forex trading is and how the market works.
Learn the following:
1. What is forex trading?
2. What are currency pairs?
3. Major, minor and exotic currency pairs.
4. What is a pip?
5. What is a lot size?
6. What is spread?
7. What is leverage?
8. What is margin?
9. What is a stop loss?
10. What is take profit?
Practice identifying different currency pairs, including EURUSD, GBPUSD, USDJPY and XAUUSD.
STEP 2: LEARN HOW TO READ CHARTS
Before placing trades, you must understand how to read price charts.
Study:
1. Japanese candlesticks.
2. Bullish and bearish candles.
3. Support and resistance.
4. Supply and demand.
5. Trendlines.
6. Market structure.
7. Higher highs and higher lows.
8. Lower highs and lower lows.
9. Breakouts and retests.
10. Different trading timeframes.
Your objective is to understand how price moves and why it moves.
STEP 3: UNDERSTAND MARKET STRUCTURE
Learn how to identify the three main market conditions:
• Uptrend: Higher highs and higher lows.
• Downtrend: Lower highs and lower lows.
• Consolidation: Price moving sideways.
Also study:
• Break of Structure (BOS).
• Change of Character (CHOCH).
• Liquidity.
• Liquidity sweeps.
• Equal highs and equal lows.
• Fair Value Gaps (FVG).
STEP 4: LEARN TECHNICAL ANALYSIS
Technical analysis helps you understand potential market movements using historical price data.
Study:
1. Previous Daily High (PDH).
2. Previous Daily Low (PDL).
3. Previous day’s 50% level.
4. Asian session high and low.
5. London session.
6. New York session.
7. Fibonacci retracement.
8. Moving averages.
9. Support and resistance.
10. Price action.
Avoid putting too many indicators on your charts. Learn to understand price first.
STEP 5: UNDERSTAND FUNDAMENTAL ANALYSIS
The forex market is influenced by economic events and global news.
Learn about:
• Interest rates.
• Inflation (CPI).
• Non-Farm Payrolls (NFP).
• Unemployment data.
• Gross Domestic Product (GDP).
• Federal Reserve decisions.
• Central bank announcements.
• Geopolitical events.
Learn how to use an economic calendar and identify high-impact news before trading.
STEP 6: MASTER RISK MANAGEMENT
Risk management is one of the most important skills in forex trading.
Learn:
1. Risk per trade.
2. Risk-to-reward ratio.
3. Position sizing.
4. Drawdown.
5. Maximum daily loss.
6. Stop-loss placement.
7. Capital preservation.
Example:
If you have a $1,000 trading account:
• 0.5% risk = $5.
• 1% risk = $10.
• 2% risk = $20.
Start by practising with small risk. Never risk money you cannot afford to lose.
STEP 7: DEVELOP A TRADING STRATEGY
Don’t jump from one strategy to another.
Choose one trading approach and learn it properly.
Your strategy should explain:
• When to enter a trade.
• When to exit a trade.
• Where to place your stop loss.
• Where to take profits.
• Which trading sessions to focus on.
• Which market conditions to avoid.
• How much to risk per trade.
A strategy must have clear rules that you can test.
STEP 8: BACKTEST YOUR STRATEGY
Backtesting involves testing your trading strategy using historical market data.
Start with at least 100 historical trades.
Record:
• Entry price.
• Stop loss.
• Take profit.
• Risk-to-reward ratio.
• Winning trades.
• Losing trades.
• Strategy performance.
• Mistakes made.
Use your results to identify weaknesses and improve your strategy.
STEP 9: PRACTISE ON A DEMO ACCOUNT
Before risking real money, practise on a demo account.
Your objectives should be:
1. Learn how to execute trades.
2. Understand lot sizing.
3. Practise risk management.
4. Follow your trading plan.
5. Control your emotions.
6.
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Build consistency.
Do not rush into live trading because of a few winning trades.
STEP 10: DEVELOP TRADING PSYCHOLOGY
Trading psychology can determine whether you follow your strategy or destroy your trading account.
Learn to control:
• Fear.
• Greed.
• Revenge trading.
• Overtrading.
• Impatience.
• FOMO.
• Emotional decision-making.
Remember, you don’t need to trade every day. Sometimes the best trade is no trade.
YOUR 90-DAY LEARNING PLAN
WEEK 1: Forex fundamentals.
WEEK 2: Candlesticks and chart reading.
WEEK 3: Market structure.
WEEK 4: Technical analysis.
WEEK 5: Fundamental analysis.
WEEK 6: Risk management.
WEEK 7–8: Develop and refine one trading strategy.
WEEK 9–10: Backtest at least 100 trades.
WEEK 11–12: Demo trading, journaling and performance evaluation.
FREE RESOURCES TO LEARN FOREX
1. BabyPips – https://www.babypips.com/learn/forex
2. TradingView – https://www.tradingview.com/
3. MetaTrader 5 – https://www.metatrader5.com/
4. Forex Tester – https://forextester.com/
FINAL ADVICE
Forex trading is not a get-rich-quick scheme.
Don’t focus on how much money you can make when starting. Focus on how much you understand the market.
Don’t buy expensive courses before taking advantage of free educational resources.
Don’t copy signals blindly.
Don’t trade without a stop loss.
Don’t risk your entire account trying to recover a loss.
Learn, practise, backtest, develop a strategy and remain disciplined.
Your first goal should be to become a good trader, not a profitable trader overnight.
Remember: CONSISTENCY OVER QUICK PROFITS.
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