Chris L and Steve W course, July 2010. These notes are a rough guide to the contents of each section. Some sections may not mean a lot without the manual or charts. 01_1 Intro 01_2 CL Basic FX Markets, Opens, Closes, Banks - how they make money, Sentiment, Reports, Relationship between traders and banks, CTA's banks etc, what drives price, how leverage effects markets, how monetry policy effects markets, how regulation effects price. 01_03 CL Fundamentals - How they effect pairs, - Risk, Risk Aversion, Interest Rates, Yield, Bonds, Monetry Policy. Why yen is strong, USD weak, AUD strong, Overnight Interest Rates, Carry Trades on Retail 01_04 CL Carry Trades advantages relative to Risk Model, Interest Rate Diffs - borrowing, loans swaps, ATR on Daily weekly, AUDJPY trading - day, position, swing, Example of AJ and CL client, Predictability of AJ and levels, AUD and AJ as risk and risk aversion pairs, leverage and percentage risk relative to stops. 01_05 SW Background on SW, How everyone is equal, routine of discipline, Awareness, Be Aware of the SPLIT SECOND FEELING, Top down Macro into Micro Pic, Timing (drawdown), Stochastic survey. 01_06 SW Attitude, Explanation of interbank/retail markets, Liquidity, Splash, Newsfeeds, Why you should Understand why price is where it is and why price has moved (fundamental and news (GDP, consumer spending, etc), How employment effects stock price, How news becomes 'normal' and gets ignored, handles=double zeros - importance and options, News Feeds - OANDA, IFS, Demo Oanda Account to get IFS News. 02_01 CL What is sentiment, Fractals, Patterns, Times of day relative to patterns, 2300 GMT start of day, Movement within 1hr of 2300 and why, Oz dealing with China via HK, Singapore, Funds and Banks and Price Movement and Dealing Ranges, Building of Fractals in different time frames, Retest of levels and fractals, 02_02 CL Hols and Price action, more fractals, S/R lines, (CL runs thru loads of charts - gets a bit repetitive), 00 nos, pushes to either side (80's, 20's etc), Price on news, Price on big figures (no touch first time), how 00's are misunderstood (Steve), running levels, more fractals. 02_03 SW Trend Lines, Trend Line Breaks - banks use them, Using fanned trend lines, Backward bounces off trend lines, Essential Rules an Overlooking them, Awareness of Price and reasons, Marking up charts and going down to lower t/fs, Get Comfortable with charts, Be Aware of Micro t/fs and analysis - don't be frightened (eg use 1 min charts), Significance of price levels and patterns, V shapes, sharp rejections, identifying patterns, watch for pattern (sometimes relative to time of day) repeating often. 02_04 SW What Steve Watches, COT, News Feeds, Technical Research, Implied Volatility, Times of Day for trading, Trading big nos, and big fib nos (eg 50 retrace on eur from Lowest ever lo to highest ever hi, sma (200, 50), trading volitility relative to risk, spikes, significant drives of price relative to insignificant spikes, Gaps in forex, (eg big bars up/down on short time frames), selling into strength. Various Patterns. 02_05 SW more patterns, Traders love trend lines, little movements diagnl trendlines, dicing macro trends into micro movements and understanding them, using what u see as clues in micro analysis to give u the bigger picture, double tops and bottoms , how patterns appear all the time and are monitored by banks, failures to make lower lows etc, thrust/spikes and 79% retraces, closing gaps, (gaps defined as thrusting, v fast moves on large bars), V formations, obvious levels, institutional covering and bok balancing at month end/key levels, candles and timeframes (eg steve doesn't use 4 hrs as not all the world sees the same 4 hrs), use gmt charts, hourly closes, price symetry, you need to work at it - look at and get familiar with looking at things on charts. 03_01 CL Intro, coffee cups, video on bob sledding 03_02 CL Putting it all together through Sunday. Dad financial periodicals, uni, where's my next trade - the fine line - the 'feeling' after research, don't take trades until u see the patterns, importance of risk management, find the trader in you, find your niche, Lori AJ cock up, if your trade moves as u don't expect, physical toxins inibit clear thought - get out, plan the day but watch trades emerging thru the day and be ready, Big Stones Entry, walking thru a trade with emotion, why lori buys into a falling mrket and viva, 30 30 trades, risk reward, emotions and 1 min charts, Fobonacci trader options, price feeds and charts. 03_03 CL ALLBLACKS SHIRT, why cl likes 1st touch, what to look for on charts, more gaps, times of day, running thru more charts, Vs, times of day and so on, t/lines again, analysists and why they 'make news, context, 2300 gmt movement, DEEP fib zones, - CL goes thru loads of charts showing what he sees relative to time of day, fractals, patterns, fibs, deeps fibs and so on. 03_04 03_05 CL Sun Afternoon - Losing streaks, discipline, control, goals, COURSE MEMBER FULL TIME TRADER RESUME, Process goals, Tokyo open and Asia patterns, London close fade trades, fractal retest trades, Chris Lori patterns. Examples of entries and trades with questions to ask yourself around ranges, times of day, sentiment, patterns etc. Maintaining funds for trades. 03_06 SW/CL Steve showing walking thru charts and finding reasons for levels, showing what hees sees, find your own methodology and interpretation based on what we learnt this weekend, don't make decisions on deficient knowledge, create good habits, understand your emotions and what causes them - habit and risk, habit and how effect you, risk trading plan and journals, (SW is going to forward us his old fund trading plan adapted), keep your trade journal as a manual for future reference and past pain, don't chase price!!!, awareness - don't miss clues on charts, esp small time frames. 03_07 CL Price action Course, more trade examples and pattern example and context of chart,bye bye.