On the other hand, they have dedicated account managers and if you invest a higher amount as a starting capital, you will be eligible for one. They are the ones you get connected to when you join a Forex robot.
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So I opted to take that chapter out of the eBook. I have messed around with forex for a couple of years now, but had no real strategy, so was losing more than winning. So decided I would invest time and money into some training to try and make a success of it.
As mentioned above I have completed the training course and cant be more happy. Thought I would outline why;. There is so much rubbish on the web, that it is a breath of fresh air and gives you confidence that you have a chance of being successful.
VantagePointTrading received this testimonial via email: For me, the problem in learning about Forex trading was finding any information about trading with a small account without spending all my available capital just to learn! I was overwhelmed by the amount of people offering expensive advice through paid signal alerts, automated trading systems, and pricey coaching, everything narrowly focused on indicators.
In his ebook, hundreds of tutorials, and hours of video content on his website, Cory provides a clear, professional and extremely helpful approach, breaking down into digestible bits the most complex information about Forex.
Cory proposes a structured, risk-managed, yet flexible technique of trading that allows each learner to define their own trading style, without wasting time or money. Traders and teachers like Cory impart valuable financial wisdom as they always work within preset, calculated risk limits.
Such honest, helpful experts help elevate the trading community to higher levels. For new traders, the first thing I would suggest is working out how to save time. If the book is not right for you, at least check out his articles or sign up to his free weekly newsletter.
Let Cory Mitchell save you, as he saved me, the commodity that is much more valuable than money…. Currently learning Basque, I enjoy writing, traveling and photography: I just recently started my education on day trading. I am very interested in the cryptocurrencies markets, and i want to specialize on this kind of trading as my first investment.
Do you believe it shares many similarities with Forex markets? Do you think the same concepts could be applied and work well for cryptos? Also you never mentioned this new evolving market on your website as far as i see. What are your thoughts about it? Cyptos are currencies, so most of the forex concepts apply to cryptocurrencies.
That said, cyprocurrency trading is more involved. The commission structure is different than normal forex pairs. Also, the cyptocurrencies do a lot less volume than typical currencies pairs, which means they are much more volatile and have larger spreads. This means there are significantly more risks with cyptocurrencies not to mention security vulnerabilities, lack of regulation and third party software which has resulted in major hacks and losses to traders.
There is of course also opportunity for a lot of profit, but because of the elevated risks compared to normal currency trading, I have opted not to discuss it on this site. Is this or the other video course https: The courses are on different topics, so are not really comparable. This ebook covers forex and highlights day trading and swing trading strategies. Both are comprehensive, depending what market you want to trade. That said, many traders benefit from both, as the two courses offer different material but the material applies to other markets as well.
Hi Cory, which one or two of all the strategies in your book would you recommend for day trading forex, around 1. Thank you very much. All the strategies are viable, and provide insight into there the price could be heading. Therefore, even if not trading a specific strategy, it is helpful to know it so that if it occurs, you have an idea of where the price could be heading even just for analytical purposes.
Therefore, we need to be a bit more flexible with the strategy, isolating the trending direction and then attempting to get in on pullbacks. I address day trading specifically in this article: Velocity and magnitude is not a strategy per se, but is a VERY important concept to understand if doing any form of trading. Thanks for the ebook. Day traders have to compete with high-frequency traders, hedge funds, and other market professionals who spend millions to gain trading advantages. In this environment, a day trader has little choice but to spend heavily on a trading platform, charting software, state-of-the-art computers, and the like.
That quote is ridiculous.. Most people have a computer that is adequate for day trading. As long as it operates smoothly that is all that matters if it crashes, or lags, that is a problem. I use two monitors, but that is not a requirement when traveling I trade on a laptop.
Stock quotes are provided for free by many brokers, and if not, the fees are pretty minimal. There is no requirement for any subscriptions although some people may choose to pay for premium features on some sites. That article makes it sound like ya gotta spend hundreds a month, and upgrade the computer all the time. That is simply not the case. Commissions or the spread are a factor to consider, as discussed in the book.
But ultimately, if you are taking trades with solid reward: At those times, it is better to just sit back and not trade as much…I discussed that issue here: Other than the capital required to actually start trading account capital , day trading is probably the lowest barriers to entry career there is…..
Hi Cory, I am a stock and options investor middle term , but I am highly interested on learning day trading I have a medium knowledge on swing trading.
The thing is that I do not know where to start. Searching on the internet I found your website and after reading some articles I really liked what you said and your arguments. Does it includes all the contents from you website: Is it extensive to the futures market? What is the format of the ebook? Is it not possible to order it on physical format I really like to make annotations on the books and used them as a guide?
The book is only available in eBook format…although you can print it if you wish find a cheap print shop, as the book is over pages. A little less than a third of the book is focused on forex basics, and navigating the forex market…these sections would not really be applicable to other markets.
The rest of the book looks at analysis techniques and strategies. Most of these chapters are applicable to other markets as well. The strategies can be used for day trading or swing trading. The book compiles much of the information on the site into one resource, plus a lot more. That said, I am always adding new content to the site, so reading the articles on the site in the section you mentioned is encouraged.
Day trading is fast paced, much more so than swing trading. In other words, this is a great starting point for day trading and swing trading to get you started with some solid fundamentals. Thanks for compiling such a comprehensive and useful e-book. I read it from start to finish and have now created my own trading plan and began to execute it in a demo account.
It would be greatly appreciated. I am on the road the next couple weeks, but I will try to get more trade examples up as soon as I can. There will eventually be an update, but I am not working on it yet. The concepts discussed are all still relevant. I AM working on a separate forex course which will focus on longer-term trading on weekly charts: I highly recommend it to anyone looking for an honest, concise and motivating book on trading forex.
Thank you for starting me off on this exciting journey. Cory talks a lot about understanding Price Action and the more I practice the more I see that along with the foundation he gives one in his book and practicing his strategies the closer one comes to grasping it. I purchased the book at the beginning of March , and am now going through it for the second time.
I am truly a novice — have never traded any markets before. I am really impressed with this book and I look forward to continuing on my path to learning. It is understandable, readable, yet contains a wealth of information. I feel like I am really starting to understand how the forex market works and how to look for patterns. I am presently working in a practice account only, and foresee myself doing that for another couple of months. Hi Cory, should i use broker with commission or without commission, which would be best for day trading.
I like the ECN brokers commission for day trading because of the much tighter spreads. But they are only available to traders outside the US. I wanted to write to you to let you know how grateful I am to have found your book on Forex trading. I bought your book back on the tenth of October and got through it in a few days. After that I opened up my demo account and traded with that until the end of January. This is more than how much I make in a whole month at my current job as a carpenter apprentice, which I plan on quitting in the very near future.
Needless to say, I am very grateful I had found you. Thank you very much for all you have done for me. That was a very bitter lesson. It represented a huge investment in time and effort, not to mention dollars, and all to learn that one lesson: But it makes sense, right? If MOST retail traders lose their money, and you do what they do, then you will ….
If you do what everyone else does, you will get what everyone else gets, plain and simple. I discuss that in a number of articles on the site—expect to put in a lot of time before the work starts to pay out. Unfortunately, that time investment will be increased significantly if working on the wrong things.
For anyone who has traded for any length time, we know trading is not as easy as plotting an indicator and doing exactly what it says. I think I am a bit traditional, but also outside the box.
For example, waiting for a false breakout instead of being frustrated by them. Taking trades inside chart patterns and using price action to determine the direction instead of waiting for traditional breakouts which are fraught with the previously mentioned false breakouts , just as a couple examples.
We need to be just a touch smarter…slightly better entries, etc. As the same time, it is the largest group of traders that pushes the price within a trend, therefore we do need to trade with the group much of the time, we just need to have slightly better entries and exits than the bulk of them. Here is an article that combines some of the tactics in a day trading context: As for my methods, I would say you will find the first half the book fairly basic.
These are basic building blocks upon which I base the more advanced strategies later on. Subjective in this case means we are looking at multiple pieces of evidence to formulate or not take a trade, so two traders may not come the exact same trade decision in a forex pair, but over time if they stick to their analysis and have practiced and tested it they can both do well. I do not know how to start my thanks letter, but I am sure that before having this pages of your book.
I was such a lion without teeth. I always felt that what is going to happen if I do this….. Second main key point for me, was YOU were there all the time to reply my questions; however, some times I got more motivation of having you rather than your prompt answers. I mean I felt your responsibility and passion of being as a market analyst.
I initially do not believe day trading can make consistent income since my background is from Finance and Economics. However, after reading his posts I changed my mind and decided to be a full time trader. This is because he treats trading the same way as running a business. He talks about making a plan, implement strategies, risk management, and review past performance.
I highly recommend this book to anyone who is serious about trading. This is the only resource you need to be a successful trader, and the rest is to practice a lot.
No matter whether being a pianist, basketball player, or rocket scientist, practice in the right way is the key to success. Am David maina from kenya. Ave been following to know about forex trading on wich I wanna be a great trader in future. Am looking forward to get it soonest possible and start off the journey. I have been heavily investing my time and efforts into learning not only the forex but equity market as well.
Also, it takes time and lots of it to sift through the crap and gather together what you feel is useful. If you want to skip the hours, more like days of sorting through strategies, psychology and market information, just get this eBook.
It is a great foundation for any person who wants to trade forex or equities. I found many of the strategies in this book carry over to the equity markets as well. You will have to study, you will have to grind and you will struggle but Cory reassures you that it is normal and you will become successful if you are disciplined and focused.
Thank you so much Cory. Best money I ever spent on a trade book and am motivated more than ever now to study, work hard and grind until I can become a successful and consistent trader. I wanna buy ur e-book.. Or it can be downloaded only once in a single device?
It is a PDF and you can download it three times on any device you want before the download link expires. BUT, if you want it on more devices you can just email it to yourself and then download it on other devices that way. Hi Cory I think you are very good trader Just bought your book, hope it will be helpful….
Best wishes with your trading, and feel free to post comments or shoot me questions as you work through the book. Hi there quick question where do one start there books DVD,s CD,s free youtube plus the paying sites follow to many read to much watch it all and confusion set in before you know it 6 month has passed and your no further on ….
I will write an article on this in the near future. People think that the more they know the better traders they will be. Beyond knowing how a market functions and how price move, the only thing to do is learn a strategy and practice it over and over again. No reason to know everything about technical analysis or to keep reading article after article and watching video after video.
Find or makeup one strategy you like and practice it over and over again until you are consistently profitable in a demo account. Then switch to real capital and continue to implement that strategy. If you can do it successfully, that is it. You can make small changes to your strategy as you face different scenarios, but really, it is just about practicing one or two strategies over and again.
In this book I provide quite a few strategies, but in the last few chapters it all gets tied back to only working on one or two, because that is really all you need…and the dedication to practice them A LOT, until you can spot them in all types of market conditions and are confident enough to trade them without fear or greed clouding your judgement.
You could use the strategies for entry points into options trades, but the book does not cover options at all. Therefore, you would need to have an understanding of options already in order to utilize the strategies discussed in the book effectively. I do not recommend trading binary options, especially the ones typically offered by brokers outside the US US Nadex binary options can be ok, but still not ideal.
Or would you recommend another resource to familiarise myself with how it works first? The book goes through everything you need to start trading the forex market. So it covers all the basics such as which orders to use and how the market works and moves and then advances to reading a price chart, making trades and following a strategy.
Being a beginner is great because you will learn how to trade effectively from the start no developing bad habits! I trade futures and I would like to know, does your book offer guidance for a intraday futures trader? Do the strategies, written in your book, apply to the futures market? Quite a few of the strategies can be used in any market, but several of the ones in the book are specifically for forex. Chapters 1 — 7 all focus only on forex. Chapter 8 — 12 are applicable to other markets Chapter 13 is about forex Chapter 14 is applicable to all traders Chapter 15 is meant for forex Chapter 16 is applicable to all markets Chapter 17 and 18 may be applicable to some other markets but not all Chapter 19 to Chapter 33 are applicable to all markets.
So about half the book is information that can used in other markets, and about half is focused on forex. All the examples and charts are from the forex market though. Hello, It is only available online in PDF digital format, and can only be purchased off this website.
Good day Cory I bought your book and completed reading and reviewing. I want to complement you, as the book is well structured and easy to understand. I am a complete novice. I am now ready to open a test account. I know you give some guidance on the selection of a broker and trading platform. I really cannot afford to invest money and loosing it because I select a hoax broker.
You have been so long in this business. Can you please recommend a broker and trading platform? I would really appreciate that.
Looking forward to hear from you Regards Magda. Thanks for the feedback Magda. Never had an issues. They offer the MT4 trading platform, and it is fine…I use it for forex trading.
Best wishes as you start your journey! Just now purchased your book. Looking forward to a whole new learning experience. Downloaded your e-book last night and read about wedges and breakouts from wedges, turned on my computer this morning at 7. I find Frankfurt open 7. These are the only options available for purchasing the eBook. You can contact me directly at cory [at] vantagepointtrading [dot] com if you have any questions. Bitcoin payments are now also accepted.
Contact me, via the Contact Us page, for specific details. I have just finished reading the book and I would definitely recommend it to anyone looking to get into trading the FOREX market. To give you some background, I have been dabbling around the edges of FOREX trading on a part time basis for a few years now with very little success but not much in way of losses either. I have bought a few indicators, kissed a few frogs, spent some cash on training; all have given disappointing results, I was thinking maybe it is just me?
I would still class myself as a relatively inexperienced trader. Cory brings the process together in a clear, concise and yet comprehensive manner. He covers all aspects of what it takes to get trading and making profit. The book is pages long. There is a lot to absorb but it is an easy and digestible read.
I would definitely recommend reading this e-book multiple times! I wish this was written when I started trading. Cory spells it out. New traders, if you follow what he teaches from the start, you will have a very good chance of becoming a successful trader. I have struggled for years and I have to re-train my brain to get rid of some of the old baggage and adapt to the concepts Cory teaches.
It can sometimes be a fine line between success and failure. This will help you gain an edge. Read his articles, website, tweets, etc. I purchased the book to learn more about the different technical analysis and their applicability to different condition of the market.
The book explained them very well and I appreciate the real trades examples given. What I really like is that the book is giving a pretty objective point of view by mentioning that there will be losing trades and what we should do to come up with an overall long term winning strategy. The hardest part for me is to shove away my losing trade and stay focus to the winning strategy. In order to do so, it requires practice and having that mental stability to always stay the course.
You just have to make sure that your course is the correct one though. The book discussed about this mental aspect very well in terms of coming up with trading plan. Overall, it is a good book. I agree with some of the comments that there are so many strategies in the book. But, for newer traders, I think it would be good to focus on a few of them and knowing which market condition Trending, Breaking, and Consolidating market to apply them.
Cory explains this very well in the book about the common psychological pitfalls that most trader experience. Staying the course is difficult after a losing a trade…or few. Yet it is exactly at those times that staying the course gets us back on track. NOT trading is actually one of the toughest elements of trading.
And yes, focusing on one or two strategies at a time is all that is needed and recommended. Thanks for the feedback and best wishes! As I made my first steps into the field, I encountered some articles by Corey and gradually and surely gained respect to him, which led to me to purchasing his book.
Oh boy, am I glad I did. It has saved me countless hours in research and sifting trough articles and write-ups, some which might have led me astray. Furthermore, the book has furnished me with tools to navigate through the stormy seas of Forex and hopefully become a lucrative trader in the future. The first part of the book offers a clear overview of day-trading and lays the ground to creating a successful trading system.
The rest of it offers myriad of profitable strategies that fit various market conditions. A word of caution: The focus of the book is price action, so if you are looking to be taught strategies based on indicators, statistical analysis or through any other prism, look elsewhere. A word of caution II: One pass is not enough. Read it, experiment with a demo account, lose a lot ha ha , and re-read it. A lot will click together; a lot will make sense; winning strategies will emerge. Thanks for this website and for the video tutorials you have done on behalf of Investoo- fantastic sources of information for novice traders like myself.
You may also want to check out this article: It also contains quite a bit of info on what I look for when day trading and day trading require less capital, but at the same time requires you to be in front of your computer for part of the London or early US session.
Really enjoying the book so far. Hi Cory, thank you for the reply.