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How I'm learning to trade (forex swing trading)

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How I'm learning to trade (forex swing trading)

Tina Huang 11.07.2021 39 116 просмотров 1 433 лайков обн. 18.02.2026

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In this video, I go through the details of my self study plan for forex swing trading. I go over how I decided on forex swing trading, the broker and platform that I use, resources, my full self study plan, my trading journal, and some early updates. Enjoy: My trading self study plan (forex swing trading) ______________________________________________________________________ Timestamps 00:00 intro 00:34 trading style + asset class 00:52 my criteria 01:58 why forex swing trading 04:37 why price action 05:00 resources and study plan - what's important 05:47 the resources 07:41 broker + platform 08:00 study plan 10:03 early updates 10:35 trading journal 11:46 paper trading results 11:50 book - trading in the zone 13:22 real money results 14:26 book - the new trading for a living 15:28 overall what I want to improve on ______________________________________________________________________ Links mentioned in video Article about different lot sizes: https://bit.ly/3i1qSxs Trading journal template: https://www.notion.so/3ddfcc51c983411299cdbf3efb9c1c21?v=1836152b18274a508697d1d64c950730 ______________________________________________________________________ SQL for tech and data science interviews course with 10 mock interviews: https://bit.ly/2TSqGsG ($12.99 promotion until July 18th, 2021!) **365 Data Science: https://bit.ly/3d7rOPE (link for 57% discount for their complete data science training) **Check out StrataScratch for SQL interview prep: https://stratascratch.com/?via=tina Real SQL interview question walkthrough series: https://www.youtube.com/watch?v=Td-cmLfQ7uU&list=PLVD3APpfd1tuXrXBWAntLx4tNaONro5dA _____________________________________________________________________ discord: https://discord.gg/5mMAtprshX livestreaming google calendar: https://bit.ly/3wvPzHB _____________________________________________________________________ Other videos you might be interested in Interview with a quant trader: https://youtu.be/_77TxNGR21A We build a trading bot: https://youtu.be/52ErSpBX0F8 ______________________________________________________________________ Subscribe: https://www.youtube.com/channel/UC2UXDak6o7rBm23k3Vv5dww/?sub_confirmation=1 ______________________________________________________________________ About me Hi, my name is Tina and I'm a data scientist at a FAANG company. I was pre-med studying pharmacology at the University of Toronto until I finally accepted that I would make a terrible doctor. I didn't know what to do with myself so I worked for a year as a research assistant for a bioinformatics lab where I learned how to code and became interested in data science. I then did a masters in computer science (MCIT) at the University of Pennsylvania before ending up at my current job in tech :) ______________________________________________________________________ Contact youtube: youtube comments are by far the best way to get a response from me! linkedin: https://www.linkedin.com/in/tinaw-h/ email for business inquiries only: hellotinah@gmail.com If you're reaching out through linkedin, please leave a youtube comment just letting me know that you reached out :) ______________________________________________________________________ I better also put a disclaimer: We am not a financial advisor and this is not financial advice. The content of this youtube video is for educational purposes only and merely cites my personal opinion. In order to make the best financial decision that suits your own needs, you must conduct your own research and seek the advice of a licensed financial advisor if necessary. Know that all investments involve some form of risk and there is no guarantee that you will be successful in making, saving, or investing money; nor is there any guarantee that you won't experience any loss when investing. Don't trust random people on the internet and always do your own research :) ______________________________________________________________________ Links marked with * are tracking links that track traffic that comes from my channel. Links marked with ** are affiliate links where I receive a small portion of the sales price at no cost to you. I really appreciate your support in helping improve this channel! :) #trading #tradingplan #swingtrading #tinahuang

Оглавление (16 сегментов)

0:00 intro 138 сл.
0:34 trading style + asset class 68 сл.
0:52 my criteria 240 сл.
1:58 why forex swing trading 564 сл.
4:37 why price action 79 сл.
5:00 resources and study plan - what's important 170 сл.
5:47 the resources 437 сл.
7:41 broker + platform 68 сл.
8:00 study plan 436 сл.
10:03 early updates 114 сл.
10:35 trading journal 285 сл.
11:46 paper trading results 15 сл.
11:50 book - trading in the zone 316 сл.
13:22 real money results 245 сл.
14:26 book - the new trading for a living 210 сл.
15:28 overall what I want to improve on 497 сл.

intro

hey guys how's it going so today i'm going to be talking about my trading study plan i'll first talk about how i decided on my trading style as well as the asset class and then i'll be talking about the resources that i'm using and delving into detail about my study plan and then the third part is gonna be on some early updates about how things are going i'm not gonna go into too much detail about how i designed my study plan because i just made a video which i'll link over here that's about how to design efficient study plans and how to make sure that you stick with it all right let's get started let's go first off i'm going to talk about how i decided on my trading style and asset class

trading style + asset class

i did quite a lot of research into the most suitable trading style and study plan for me what i learned is that deciding how you want to trade has a lot to do with your lifestyle your purpose the amount of capital that you have and what your priorities are so here's my criteria in terms of purpose my goal is to become a consistently profitable trader

my criteria

making somewhere between one to two percent every single month i'm not really about trying to make a lot of money really fast for me it's all about wanting to be more consistent and wanted to be more sustainable in terms of lifestyle i do work a full-time job and i also you know do youtube and stuff on the side as well so i don't have time to just be staring at a screen and looking at tickers going up and down the entire day i would be able to spend about an hour every day looking at trades and thinking about my trades but i do want to be able to focus on other things as well in terms of capital so most of the money that i earn after paying off rent and food and things like that goes directly into investments like long-term investments so the amount of money that i'm willing to completely lose from trading is ten thousand dollars so that's the initial amount of capital that i'll be using to fund my account and in terms of priorities my biggest priority is to learn quickly and efficiently i did research into different trading styles to find which one suited my criteria the best i also did try a few different asset classes and trading styles myself just to kind of get a feel for it too what i ended up settling on is

why forex swing trading

forex swing trading the reasoning for this is because the forex market is extremely liquid and it moves really quickly which will actually help me prioritize learning because i'm able to put in more trades and see the results of that forex is also a lot more conducive to having a smaller account size like my ten thousand dollars can last quite a while in the forex market because you can trade lot sizes you can have standard lots but you can also trade mini lots and even micro lots depending on your broker and people start trading forex for even when they have like a hundred dollars or five hundred dollars in their account and this is compared to other asset classes like stocks for example especially if you're trading like large cap stocks one of those stocks is gonna cost you like a hundred dollars or more so you have your capital goes less in those asset classes compared to forex third reason is that forex is supposed to be also very conducive to technical analysis which is what i wanted to focus on another reason for swing trading in forex is because of my lifestyle so with swing trading i'm holding it for a few days so that's something that i think is much more sustainable for me as opposed to scalping or day trading and also in terms of the market hours because the forex market is open 24 5 i'm able to put in trades earlier in the morning and after work because i don't want to be focusing on you know my trades and trying to put in trades while i'm working at the same time as with anything in life there are always downsides and the downsides that i identify that matter the most to me the first one is that it is a pretty volatile market so that means i do have to be careful about that i need to pay attention and the second reason um is that in forex most of the people who trade in this market are big industry people like banks and hedge funds and things like that so i am naturally at that disadvantage because not only my volume is a lot smaller i also have way less information and access to information than they do and the third thing is that unlike trading stocks or bonds i don't get that interest for dividend payout the final decision that i had to make was between discretionary trading versus systematic trading so if you guys know my background which is in computer science data science like very like you know computery kodi things you would probably guess i would go with systematic trading right and that's what i thought too i do want to really get a feel for the market myself and i think at some point i will at least have a portion of my portfolio in systematic trading but i think it's really important to be able to understand the psychology behind the markets and really kind of get into action and understand more deeply what's happening before moving on to systematic trading not saying that systematic trading doesn't allow you to do that but for me personally i think by being a discretionary trader first it would allow me to learn a lot more about the markets

why price action

specifically i chose to do price action trading um with most leaders looking at prices less so on indicators and chart patterns and that's just because this is just what makes the most sense to me and i find that i do get caught up on looking at indicators when i rely a lot on those all right moving on to the resources that i'm using and my study pick during the research phase i found out that the

resources and study plan - what's important

best way to learn is by putting in as many trades as possible yourself which is not super surprising because that's generally it's best to learn by doing the thing that you're trying to learn i also learned that it's really important to have a system and be hypothesis driven even as a discretionary trader and not just be like oh i don't know let me just put in a trade because i have an urge to put in the trade i also learned that it's really important to keep record and have a trading journal which for me took me a while to settle on a trading journal that works well for me which i'll be going to more details later and it's important to be careful with risk management so each trade i'm putting in should not exceed one percent of my portfolio amount of ten thousand dollars in my case the risk of each trade never exceeds a hundred dollars for resources i invested in the ultimate

the resources

price action trader by rainer ii uh and this was after quite substantial amount of deliberation and also seeing a lot of his free content i was really impressed by the quality and the value he was delivering with his free content so that kind of i felt like he was a lot more trustworthy than a lot of the other online trading coaches or gurus that were out there i feel like i do need to put this out there i'm not sponsored by rainer i have no association with him i paid my own money to go and do this i think this is particularly important in this field where there's a lot of people trying to scam you by promising you that they're going to teach you how to trade anyways i also found that the ultimate price action trader had pretty good reviews and in terms of rainer style trading uh he focuses a lot on the forex markets he's not exclusively on forex but he does have a significant portion of it which is what i'm interested in he's also more of a swing trader or a long-term trader so that also matches my profile um and finally i like the way that he's very logical and he's more about trying to get you to understand how to approach trading and creating your own systems of training as opposed to exactly telling you to memorize certain patterns where like to put in specific traits i'm not going to go into like a full blown review of this but if you guys do want me to do a review please leave a comment and i'll be happy to do so i'm also supplementing the ultimate price action trader with creating psychology books as well as direct practice um because i find that rayner's stuff is very good at teaching concepts and things but there's not as much like direct practice in it so i'm doing that on my own where i'm translating the stuff that he teaches into actual trades myself the reason why i'm also reading more trading psychology books is because brainerd is a little bit more practical side like he's very much about okay like this is what you what this is how you need to like think about this is the framework that you need to use when you're trading but he doesn't really talk that much about what's the correct mentality uh to going to approaching trading and things like that and i know that training psychology is really important so i also wanted to supplement that side

broker + platform

oh i forgot to mention who's a broker i chose to go with owanda and i also i'm using tradingview as the platform uh which i'm connecting to the broker again not sponsored have nothing to do with these trading view people were with wanda people but that's what i found was the most suitable towards my needs the way that i'm using these resources is focusing on

study plan

two priorities the first one is a breath versus depth approach so i'm very breath driven in which i'm trying to understand uh the training reasoning behind things and understand the frameworks of trading and the concepts that are being presented as opposed to trying to memorize exact patterns or like exact information and i used that information that i learned to focus on the second concept which is direct trading so i basically learned this information and then i try to apply it as fast as possible into real life trading i study the ultimate price action trader on monday tuesday and friday for a hundred minutes um and i also put in my trades during that time as well for the first two months i focused exclusively on paper trading uh because i didn't want to go and just lose all my money without having any understanding of what's happening and then after those two months i then slowly moved on to also putting in trades in my real account as i said learner it's all about learning the concepts understanding what's happening and then directly implementing that into putting in trades myself um and of course each trade only i'm risking 100 at maximum something that's important to mention i think um is the fact that i don't think this trading plan or this self-study plan is perfect right and i'll talk about some of the tweaks that i do later on in the video as well but i think it's really important to you know design the study plan and actually focus on the strategy for a substantial period of time what a lot of people talked about is falling into the trap of having this like strategy or like the system in place and then they do that for maybe just a little bit but they don't really get the hang of it and then they think it's not working so they move on to another system afterwards and they just kind of like keep doing that and wasting a lot of time money because they never really truly learned how to use a system to begin with so my plan is to stick with this trading system this trading plan for at least three to five months so that i can actually say hey like i really did give an attempt and try to understand what's happening and use these concepts uh well in direct trading before deciding and re-evaluating if i want to stick with this plan or move on to a different approach all right next section is

early updates

implementation of the study plan and some early updates it's been about two and a half months now since i've been following the study plan not including the research phase and the study planning phase for the first two months i was learning from the ultimate price action trader and placing the trades into my paper trading account i took notes and tried to focus specifically on the logic behind how to put in trades and also synthesizing the information that's being presented and creating that framework that i tried to the best my ability to follow i did also go through quite a few types of trading journals before i settled on one

trading journal

now that i think worked the best the first approach i tried was using a google doc in which i would look at the seven major currency pairs uh because they have the most narrow spread and then i would go and evaluate each one and try to figure out where the market is at and whether i wanted to place a trade or not and i would take notes on all of these every day i found that quickly became pretty tedious though you know because i have to look at every single one and then write down my notes for every single one and i didn't have that much time to look at other currency pairs or to like think about other things i just kind of ran out of time because this took so much time just to maintain it i also tried writing things by hand and having a spreadsheet but that didn't really work that well for me either because i'm not it was hard to like stay organized and be consistent about it so i ultimately found a trading journal template for notion which i think is quite good i did tweak a little bit to match my specific trading uh but i do think that it's better than the other versions that i've tried before i really want to give credit to the person who made the trading template but i kind of forgot where it is i found it from but i will try my best to go and look that up and link it in the description so you guys can also check that out during this time i put in 11 trades and i made

paper trading results

approximately 400 in fake money i also read trading in the zone which is a

book - trading in the zone

trading psychology book and i would read it most nights before i went to bed this book i think was pretty good but i kind of wish that i didn't choose it as my first book to read in training uh because it was it's like very the way that the author writes is kind of convoluted and it sometimes you have to like read a passage at least like i have to read a passage a couple times to understand what it is that he's trying to convey but in general what i took away from that is psychology is really important and you really need to align yourself with the correct mentality of how to trade if you want to be a consistently profitable trader i think most of the concepts that were being presented in the book are still like marinating in my brain right now um although over time i think some of them are things that i've started to incorporate more into my thought process when i'm putting a trade i think i'm lucky in the sense that because i come from a more computer science data science like that kind of background um more like i guess you want to call like a more logical background some of the issues that this guy talks about is book they didn't feel very applicable to my way of thinking to begin with like i don't really have a like gambling personality for example several months later forty million five hundred thousand dollars but there are other things like trying to think in probabilities right approaching a trade not in terms of trying to win every single trade but thinking more in probabilities so those are the things i am working on in terms of the way that i think and approach trading so after about two months of learning things taking notes

real money results

about it and then applying it into my trading in paper money i switched over slowly into using real money i think it does feel a little bit different when you're using real money because if it's like fake money um you ultimately know that you're not actually going to be losing or earning any money so you know you do have like a different feeling to it but i was really happy that i started off with paper trading and using the strategies um and practicing them on paper trading first because when i switch over to using real money that habit of how to approach trading kind of switch over because i'm doing the exact same thing i was doing when i was trading paper money i can definitely see if you started immediately with real money your emotions would have a lot more to do with uh how you place trades in my real account i'm actually down 57 and four cents but that's okay it's part of the process i didn't put in as many trades as i wish that i did uh that was because i was primarily more focused on learning concepts and those strategies as opposed to like implementing them more still using the notion trading journal kind of tweaked it a little bit more but the entire format and everything is still the same and it's worked pretty well for me in terms of the book i

book - the new trading for a living

finished trading in the zone and i moved on to another book called trading for a living wait actually it's called it's the new trading for living psychology discipline trading tools and systems risk control and trade management i don't think this would have made a good youtube title very long but yeah so that's the book new trading for a living i kind of wish that i started off with this book first because it's a lot easier to consume um than trading in its own and it has a lot of really interesting points that it illustrates for me i focus specifically more on the psychology components and discipline and trading journals as well as risk control and management as opposed to like the strategy side of things um that's because you know as i was saying earlier it's better to just focus on trying a specific system and actually giving that a chance before trying to move on to different systems because a lot of different systems can work for different people right and this guy presents a system that's pretty different from the way that rayner presents so i want to like really try with rayner's system first before incorporating other strategies so overall things have

overall what I want to improve on

been going pretty good not bad at all i do quite like the ultimate price action trader uh although i do want to get a little bit more out of it i haven't been taking full advantage of the live streams and the resources that he provides as part of the package also he has these trading alerts that he describes what he's going to do for the next week in terms of trades and i haven't really been using those because i was scared that i would fall into the trap of following someone else's traits but now i feel more confident with my own system of how i approach trading so i can go and learn a lot from watching someone's logic behind a trade and seeing what happens after it i also want to improve my trading frequency especially during the last month i didn't trade as much as i wanted to i understand that you really need to put in your trades in order to improve quickly so i only put in five trades um my goal is to put in at least 10 trades per month and hopefully 15 trades another thing that i'm still working on is trying to develop a more sustainable approach to trading um i find that i would go and put in some trades but then i would kind of like look at my trades throughout the day like luckily like at least like two or three times a day um and that's kind of distracting because i'm not able to focus on doing other things and it's not productive either just like looking at what's happening to my trades so i'm playing around with using alerts more often and also not just using market orders but using limit orders and using buy orders and last one is on trading psychology i'm still you know having that information marinated in my head trying to incorporate the correct psychology into my training but the thing with psychology is that it's not like you can just be like all right let me think differently now you know it's like a long-term process so that's still something that i'm working on and making progress towards all right we have come to the end of this video of my trading study plan i hope this has been helpful for you guys for anyone out there that's also learning how to trade like myself i need to put a disclaimer to say i'm not telling you that this is like the best approach to learning how to trade or anything like that like i'm learning to do this myself right i'm only trying to share with you um how i'm approaching things in a journey that i'm taking right now and hopefully you can also help you guys plan your own trading study plan all right have a wonderful day and i hope to see you in the next video where livestream

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