Hello everyone my name is Anish Singh Thakur welcome to this video which name is basics of forex Many people don’t know basics of knowledge what is forex don’t know that When to trade don’t know don’t know the meaning of PIPS
There are many things which they don’t know So today in this video you’ll get to learn everything
And just after this forex analysis video will come in which how to apply this video will get help in that After that DOW JONES NASDAQ will come
means how to trade in American market That video will come, just after that news and events like what are the data NFP, CPI FOMC
many events are there in which big volatility could happen, so what are those events
all these video little advance video will come after this, some will come related to strategies But let’s start with basics today
To clear basics is very important so let’s understand first of all that what is forex? now I’ll open tradingview.com, this is that website from where we start trade so when we come to tradingview.com so like this screen comes
if you don’t have paid version or could get like this also could get 4 screen you come like this and after coming here, we see we’ll make a watch list named forex this is my watch list of forex
I’ll show watch list to you again when we come to laptop So right now these are the pairs of forex
Like before today you have seen trading in SBI have seen or in Nifty
so they are pairs like this EURO/USD USD/INR, GBP/INR, Dollar versus Canadian Dollar
Like this there are 2 pairs ok one is dollar index
There are pairs like this and meaning of forex trading If I write forex meaning it means foreign exchange means whatever foreign exchange is happening It is that market which is open 24 7 Ok And close in Saturday Sunday
In this from Monday to Friday person could work In this after putting stop loss, problem of skipping stop loss is not there So here there are many benefits who had job so they can trade market in evening
In fact it is better time to trade in America so all this thing we will learn in this video So what we’ll do come back to you and start our study
first of all in iPad
Why we start study in iPad ? because here I want to explain basics then we’ll go forward
so let’s start So first of all we have to understand this video starts here that what is forex
We know forex means currency like USD/INR is one pair EURO/USD is an pair, ok Gold Crude Oil and DOW JONES will make 2 videos on that so we’ll understand in that Ok, USD/CAD is a pair
when we trade in this This is approximately half of 80 rupees it approximately moves around 1.1
this also moves around .9 Everyone has their number so what we do
We trade in this, when we trade in this so we have to understand 2 things First in USD/INR, one is called primary Primary currency and second is secondary currency
Primary means which is in front Which is in front is king
King means main if I am seeing dollar chart imaging dollar is increasing, so this graph will go up Ok, it is simple ok, if I am seeing EURO/USD
so here EURO is king primary primary means main If I see EURO/USD chart and suddenly euro is falling so this chart will also fall if I see USD/CAD, Ok
And I see dollar is falling here so here this chart will fall, if dollar is rising so chart will fall
Means this is main currency first one very simple now next step we have to come
Now we have understood how to start forex trade
To start forex trade you should have broker Broker is very important here if you are not following up me from earlier
So with many efforts I said no that cannot do
I come to Dubai and live was easy but now Now most important thing who is broker and why is he important
Because your money put on line can go to waste and second thing There is doubt on legal/illegal you have asked me many times, RBI has banned so how to trade So let’s understand answer of that then we’ll understand what is PIPS and then we’ll understand what is time zones and then we’ll understand what should be strategy and like this we’ll move forward in this video
so biggest thing, greatest thing in this is that What is broker
what is broker? First of all, trading in India is legal or not Doing forex trade its illegal so how will we trade, now I’ll tell you that
RBI has issued a list and banned 34 companies, no
RBI has issued a list and banned 34 companies and said every other is also ban
Which is not in the list is also ban so what to do, now I’ll tell you I’ll tell you, out of 2 company if want open in both company or could open in 1 out of 2 According to your choice
CMS Prime is Dubai based company Exness is worldwide based company which has many registered offices both are very big company And how these 2 companies are working
ok, let’s take an example that if you open your account in any of these 2 in exness or CMS prime, ok Let us just say an example, you have opened account in exness now what happens Yes, it’s illegal to trade
how will you trade then? What happens is when you deposit your money.
Ok, then when you are given details at your portal.
You will get the link by that you will open your account. You will see, when you get chance to deposit. When you deposit then Indian bank account will reflect to you.
When it is coming from crypto then there is no issue. But in case you want to do it by you account then Indian bank account will come, which is not of forex company. This is called P2P transaction.
It is called Person-to-Person transaction or Peer-to-Peer.
It is a very new technology. Big payment gateway companies have been created likewise. It is completely legal because you have transacted not in any forex account however in Indian bank account. You have done your work and done trading.
What about money withdrawal, anyone can take deposit but when turn of withdrawal comes then need to do? When it comes the turn to withdraw, visit to Exness portal and click button of ‘withdraw’.
That you know that the amount which needs to come and has arrived
even by mistake, comes from forex company. For instance, like once I had directly from CMS prime account that I had deposited then my ICICI bank got closed. More and more they close bank accounts but it hurts. Due to this, my work got stopped.
Don’t let this happen to you. If your money comes directly like this then it’s a problem, in your bank account.
It should not be happening. You money comes from any Indian bank account through P2P transaction. This a network by which your work is getting done.
By P2P or Person-to-Person or Peer-to-Peer but you are not getting caught.
You are not getting caught means that you are dealing directly with any forex company.
This is how businesses run in India or worldwide. That people find out the way. Yes, until RBI issues notice of a ban like this, once in two years.
As told by old experienced people. First of all, brokers are very important.
Your money comes and goes safely and both companies are extremely safe.
Link of both you will get in the description.
You can get your account open through this. Since I always give a lot of giveaways. Ok, giveaways keep happening. Last month giveaway was upto approx. two lakhs ten thousand. It was by cash, one lakh to the first winner.
And, in this month Apple’s iPhone or iPad or iWatches what is going on. Next month, I will again come with a cash prize. Likewise, it will keep going.
If you open from my account, then you will be benefitted. And send your ID at forex@boomingbulls.com
You can open in Exness and CMS prime, you'll get the Id, Ok. This is Forex @
this is about Brokers. Now we shall talk about Pips.
Just give me a minute, we need to come again.
Now we will understand the story in it.
You need to understand 2-3 terms.
What are Pips? You need to understand, What Lot Size are? These two things we need to understand. What are Pips?
Anyone can google and you will get what Pips are and their meaning. But Pips are units like the dollar is a unit. 1 dollar, 2 dollars likewise rupee 1 rupee 5 rupee like in SBI, Nifty. To which we call it ‘Point’.
Likewise, here we call Pips in pairs.
What are pips? Pips basically means ‘percentage in point’. Percentage in points will not give you benefit. How you can measure pips.
By the way there is no need to worry, in trading, when I will take you in, we will measure by scale. Through scale, absolutely fine. Point, just leave.
We will keep it simple, till date all trader had taught how to do pips. I will go directly into the trading view; I’ll teach you at once.
From this point, how many zeros will be taken at this side and another. Leave it. Let’s assume pips, I will teach you in trading view now.
Let’s talk about Lot size, Here we talk in lot size, Mini Lot- Mega Lot.
What are these, I'll tell you When you will open your MT4 Version, there you will find an option to fill the quantity.
There you need to fill a lot size. 1, .1 or .15 or .25, there you will get a chance to fill like this. Mnay people says I will take you in reverse once,
when you open your account with the broker then he will send you an ID and password and you need to fill in either MT4/MT5. You can fill in either of them.
They both are the same, just like kite version 1/ kite version 1.2 or version 2. MT4 is an app by which all the brokers in the world can be added.
Many people say, MT4 does not get installed.
I will make you see how it gets installed. When you install MT4, there is an option that will be visible to you, to fill the lot size.
You need to remember a standard of lot size. When we use 1 for lot size 1 or mega lot basically.
1 is a big lot then per pip 10 dollars get moved.
If we do 1 then per pip 10 dollar get move. If we do .1 then per pip 1 dollar get move. What does it means?
It means if here If I take 5 then per pip, multiply, 50 dollars will get moved.
If I take 10 then per pip how many pips it will get moved? Brother, per pip 100 dollars will get moved.
It is high, and we need a lot of capital. We will talk about how much it requires.
All in all, if I take lot size .25, then per pip then how much pips it will get moved then it will move by 25 dollars per pip. On 1 pip, 25 dollars
On 10 pip, 250 dollar So this is lot size Very simple calculation.
Now you understand what is lot size.
Ok.
How much lot size do you need to take? There are a lot of standard rules,
let us assume that I will explain, how much lot size you should take on trading view Now we shall move to a trading view.
So that I can make things easy for you. Let’s come to the trading view, here what we do.
Here we will come on trading.com. As an example, we will take Euro/USD.
Ok Like this we will remove all the drawings.
Now we have to, lets say Now we have to, lets say Here we are seeing a pattern like head and shoulder and resistance.
Mean here market again and again Can see, that here is a zone. OK
What is this? you'll see market analysis and forex analysis then you will understand.
What you understand here is that here is a good zone and near this zone market makes a red candle.
Where? Here here
SoThis is an important support Market was taking support here and this support will break, it is facing resistance here, this is called retest theory.
You will have a chance to learn a lot of theories like this. How? Watch all my previous forex analysis videos. Watch 5-10 videos by taking time out.
You will get a lot of things to learn. But, now I will tell you the time frame.
Now we have to understand pip and lot size. Pip, Let's assume I am planning to short here, Here, at this place
because I told you retest theory works best on a 15 minute time frame also.
It works on every time frame. See here, when we come here, you know that here you will get a high favourable favour of trade which comes here is of sell So you plan if there is a red candle then you will short it.
Got the red candle, Ok When the red candle is closed, here. Then we have planned to short it here at this point.
Now we will short this here. We have to think of a target and stop loss.
Let's assume my account has of 500$.
I will tell you all about what and how much we have to do. This is the best calculation.
My account has 500$ which means almost 38000/- to 40000/-. Right, of 500$.
Now, what do I have to do? Now I have to move forward and I have to understand how much is the target and stop loss.
Can you see this scale on your left? When you come here, this is the scale and click on the scale on this point and put the stop loss above the both candles.
Not exactly here, we will put the stop loss a little above.
Not too far. We need to focus on recent price action and exit from here. When you come here a little above, on the right side, can you see the pip.
This is the stop loss of 10 pip. Not of 10$ not of 10 Euro/USD but of 10 pip stop loss.
10% 10 pip is your stop loss, Ok
so 10 pip is my stop loss. My stop loss is 10 pip. Ok fine, nice.
Now what will be my target? My target is visible to me, we can easily stretch it up to here. So what I am seeing is we can try it till here.
But market is closed. If we see market here, I stretch till 17 pip.
Market is giving a target of 17 pip. My target is now 17pips. 17 pip is my target and 10 pip is my stop loss.
So I define my trade, If you want then you can come here and make long and short.
Click on short and where you have to put the stop loss, put it here a little above and where you have to put the target drag till there.
So you can see the trade of 1:2.38. Now, what are the dynamics of the trade?
Now we talk about that, see the account is 500$.
Then what is the lot size? The biggest question is this.
So how is the lot size? Now let's suppose I have to decide how much loss is acceptable in 500$.
Some will say 50$, 10% of the account is acceptable, it’s more I believe, and some will say 25$. Alright. If you want the loss of 25$.
How much is 25$? Approx Rs 1600.
You are booking the loss of approximately Rs 2000 in the trade of 40,000. It looks very good risk management.
Some people don’t have that much good management but still they are doing it. So it’s your choice.
You want whatever the loss. You want a loss of 25$. How many pip’s stop loss do you have?
How many pips? 10 pips. If we take a lot size of 0.1
So how many your dollar will go? How much it will move on 0.1?
1 So on 10 pip it will move 10 dollar only.
So we have a chance here we make it 0.25. If we make a lot size 0.25 then how much it will move on every pip. If I do 0.1 then it will move 1$ and 2.5$ if I do 0.25. So on 2.5$ on every pip, there is a loss of 2.5$ if one more pip,
if 2pip above then the loss is 5$. Alright. 10 pip above and there is a loss of 25$.
I want a loss of 25$ and whatever the loss I want. You can calculate your lot size accordingly.
If I want a loss of 50$ then I can take 0.5 also.
Means you have to calculate first.
How much will it move on 0.1? $1 No problem.
Multiply it with your stop loss. I want 10, if there is 10 pip there will be a loss of 10$. I have a scope so that I can stretch till 25.
I can stretch till 100 also. I am an aggressive type of gambler trader.
Many people say that, I am giving them the calculations. You don’t have to trade like this.
But for the sake of calculation, we can do one thing that we will do the calculation on a big amount.
On a big amount, one more calculation we will find.
Let us assume I have an account of 10k dollars. I wish everyone had. One day it will grow for everyone.
But the account is 10k dollars, I can take the loss of 500$. I can take the loss of 500$.
I can take the loss of 500$. What will I do?
I will do 5 lots. What will happen if I take 5 lots? By taking 5 lots, on every lot it will move 50$ up.
50$ up. What is my stop loss? 10
Multiply it with 10. You multiply it with 10 which is equal to 500.
This works for me. So how do I calculate the lot?
This is how. This is your calculation for risk management. I suggest that you should not risk more than 5% of your capital. If a trade is very good then you go upto 7.5$ to 8$.
But not more than that. If you do so then you will exit from the market soon.
If you are coming to learn then it's ok First of all, everyone opens your account and trades on a demo account. So we have learned about pips and lot size.
We first learned this information. Now we will learn more information.
MT4 Some of you say that Mt4 is not available on the app store.
Then directly google, and download MT4 trader. If you will write download MT4 trader, it will directly come for the downloading.
If you want, then you can download for laptop on this also. You can do it on the iPhone also, for android also an app is given apk.
By click you will find APK. So that’s how you do it.
Otherwise, I got MT4 my mobile. It is installed on my mobile. Because you get a lot of links to download.
If you google download MT4 for apple, then you will get it. You already have an app link for android.
So that’s how we can download it. So where are we now? Now let's talk about timings.
Now what happens, First of all, you see. First we come on timings. Market has its timings. Its Dubai time is shown here and set as per time of India.
You set it according to the Indian time zone then it will show accordingly. If you go as per the time of Mumbai it is showing now 6:30 am. Alright. And I am making video at this time.
Because I was planning to make it but I was just keep planning if I will not make then it will keep on planning. That's why I am making it right now.
Anyways, So what are you seeing. Market is showing closed now.
Market is closed. It is showing because it is the weekend.
This completely shows you like this. This shows when the session was open.
Of what? At that time, the Sydney session was open.
It basically means, you understand, Sydney, Australia and New York were open at this time in the market. Can you see it is closed now?
When it is 6 o’ clock, the Australian pair will be active.
I will tell you about major pairs and minor pairs. The Australian pair will be active and Tokyo means JPY will be active till this time. Then see Australian will be closed and then after that suddenly London session which is 1-1:30 pm according to Indian time will be active. And that time JPY will also be active it will come in extreme GBP JPY. When it will move forward then Europian session will come.
Means Euro, GBP. Now, see, now it’s a time of 6:30 pm , when Europe and New York sessions are active mostly.
So you are looking below at Volume, this
When this got high So at such time usaully big-big move come So this your timing
Now we come to which pair we need to trade, see world has Forex have Forex major pair
So now you google major pair Or minor pair and one is exotic pair You have trade major or minor pair
According to me in starting only do major So 8 or 7, everyone giving different stories you open Investerpedia
What are the major pairs It will quickly tell you what are the major pair
Which it couldn't tell easily Here
It's writtern over here This showing EURO/USD, USD/JPY, GBP/USD These are the most important pair
These are the most important pair Swiss, Franc
USD You google more
Open more websites Here also it will 8 major pairs
EURO/USD Ok, the whole graph is also given
Most is EURO/USD trading pair
USD/JPY is also an important pair, GBP/USD London and New York AUD/USD important pair
USD/CAD USD/CNY, chinese Ignore it, No need to use it at all.
Chinese, seems like a Chinese website. This website is from China.
No need to use this. USD/Swiss franc all ours.
You can do trade on these. You can see these pairs.
Don’t go beyond this, why? Because they have good vitality.
There is such a thing as spread, when you buy it on a costly basis.
When you exit, you do it on a cheap basis.
Like this it goes. That you need to manage. Ok So, you understand what major and minor pairs are. Ok.
What is now? What I will tell you, if we want to do trade. What do we need to do?
Yes, what will happen now? How shall we trade boss?
Now what is, see, now I shall draw a forex analysis. After drawing, you will not understand if you are new.
That’s why I am telling you. Here is one thing.
Game of forex depends totally on the time frame. You need to assume a 4 hour time frame as main.
$ hour timr frame But this 4 hour time frame.
See, there are two kinds of people, one who trades in a big timeframe and another who trades in a small time frame. They need to trade quickly.
They are the kind of people who want to do trade when they are free. Another are people who have to business, job, had to go on fields Have to go on a job They have less time, they can give less screen time
So those who give less screen time What you have to do is?
You have to do swing trading.
Swing trading means you will take the trade, you'll take rarely after entering the trade you will not see what is going to happen.
There is a thing called stop loss, you will put it in the system, put stop loss, put target and leave it. You will not lag behind, what happens then is very important and will take trade from Monday to Friday.
Do not take overnight, sometimes there is a gap up gap down. Do not take risks,
if there is very good trade going then take risk. You can come from Monday to Friday, anytime.
Timings I have told you. Now let me take you back here one more time, ok?
Look here Going to talk about time frames immediately,
Let' do it now, you are a big-time frame trader, swing trader, Or You are Intraday tarder, want to do quickly?
come to that you will open four hours,
what will you do by opening a four-hour time frame, marketing in your level.
What are levels? There are two types of levels, trend levels and horizontal levels. What does the trend level tell whether the market is in an uptrend or a downtrend? This is saying that the market is trending in uptrend right now,
Ok? You will see how it is trending here in an uptrend.
One trend line is drawn here and another trendline is here.
There are two types of trade lines that are drawn. This is the way the market is going from here, in an uptrend, ok?
We will remove it now. This is also the third touch; it is a genuine trend line but it depends. Now you have to make a horizontal line, how to draw it, you will get to learn all this from Forex. Anyways, what do you have to do?
By coming on to the 4 hour, you will make your analysis.
Analysis means you will see the chart pattern is double top or you will draw the line and one hour is the time frame below that.
By coming on to that, you will take action. If you are a swing trader, you feel that the market has come here, it does test.
If it breaks this level, which is a very important level. Which one, breaks this level. Then, the market can break here.
The market can be breakable here and the market can give a bigger target.
Or, if you think that the market is going to give a genuine move, Ok the market has come here, made a breakout, made a lower/high, made a higher/low, then will break it.
On whom will it depend? When the market opens, we need a solid red or solid green candle in one hour's time frame. If we get solid green, we can buy; if we get solid red, we can sell. We can make this a target.
We can place stop loss a little higher. If it turns green, can place stop loss below it. It is a target; we have to take it out from a distance.
Will go for the second time frame on daily etc. and will find out the target of above here.
1:2, 1.5, 1:3 are like this. You will get to learn slowly; you cannot learn everything in a single video.
I am trying to cover most of the topics. Let me know if it is good, then tell me here in the comment that,
how did you like this type of video because it is a very basic video.
However, I know even the basics are also very important.
That’s why I am making and giving you people. Let’s move forward.
So, it's done, and drawn.
Ok? If you assume, you say, I have to do trade quickly that I can't wait so long. 2 days or 3 days or 1 and 1/2 days or 2 days.
No matter what you can do. Will have to start your whole worldliness from a small time frame.
Either one hour or 30 minutes and if you are very quick, if you cannot hold the trade even for two to three hours,
then do not start with one hour also, come to 30 minutes. If you can do it, then 1 hour.
Come at 30 minutes and set your mind on 30 minutes. Try to understand at 30 minute, what is price action
Let us assume we will bring it here by doing this. Ok here we brought it.
Ok. What happens now?
We came to know that now the market is here but don't know what to do next. You have to make levels.
Let’s assume you came here at x time. At 9 or 7, draw the levels on this time frame
You know where is your support here, resistance here support will be formed here, ok? What else will happen? And the market will become resistant here and where the market is at present.
I will play a candle and if it becomes a red candle, then I will declare high yellow. Ok?
He made one. So, price in the present tense.
At the moment the present tense is not going to go above on this, So we draw line What i have to do now
I want to change the time frame, now I have to come in 15 minutes. 15 or 5 will also work, but 15 is better over here.
What we have to do is. Now we have to, this level also needs to be seen.
Like we did for 15, see this. I had drawn a line here. What you have to do is.
Let's see the price action, will it stop there?
If it stops and becomes green then it can be bought, can you see? if you are feeling scared then leave it.
You wait for another confirmation. Another solid green candle will form here.
If you buy it here. If you buy here ok and you place your stop at 15 means at 18 and you try to target 26-30 paise, this trade can also be taken because what you have to create zones.
At zones, you need to trade. I don't know the target here Let's see!
The market is going down on the time frame of 15 minutes, Maybe your stop loss can also hit.
Stop loss of yours will come little below of this wick On touch basis, it hit like this.
It's just an example. No worries. What is now? What next trade we have to take?
We need to take the next trade out of this zone. Now we see when we will get trade out of this zone. If we have taken this trade, then our SL would have hit. Now we will take trade out of this zone, if we see out of this zone, in case we were given trade with a definitive candle then you need here a solid breakout.
This candle is how many pips you will understand when you see. It is of seven pips candle and at-least it should be of 10-15 pips candle.
Now, see what happens now. Now what happen?
Market has created a zone, see this, created a zone and this zone that covered it for a long time will be broken by this candle.
This candle is also a bullish candle, How?
this lower tail represents rejection and the size of the total candle is around 12 pips.
Ok By the way, according to me, I said wrong because I zoomed out. This could also be a buy entry
To a stop loss below this place and needs to be kept below both of them.
or you can enter on this If you enter this candle then you will see that market give our stoploss, then obviously will come below this wick. Then it can give us a target
if we want to go, Ok. Market like this, what now, I don’t want to make this video long. It was an example, what you can do is, wait for my analysis video. This way we can do it.
These are the times when you're here. It doesn’t make it perfect but it moves near our target.
I am not teaching you trading at all. Here I just gave you an example.
It’s an example of how you can trade in forex. By making a level by level.
Now what? If you are swing one.
That much you understand what swing is and that.
In case you do swing trading then my 4 hour and 1 hour will be taken into account. In case you want to do Intraday trading or fast trading then 1 hour, 30 minutes and 15 mins plan for action.
I will definitely make more videos for you and will explain it clearly.
Guys, hope you enjoyed it and your friends who want to do forex trading suggest this video and most importantly, if you want regular updates from me then subscribe to this channel by pressing the notification’s bell icon.
Ok I hope you enjoyed the video and I tried to give you as many things.
I had made a video like that one year before.
What is forex trading?
You can also watch that if you want but there you will also find this knowledge. Now I will give you one final thing which is really important and will help you. What it can do is, apply this indicator whose name is sessions. Ok, Sessions
When you will write sessions then you will get many sessions 1,2,3,4,5,6,7.
I am at seventh rank, I don’t know how many ranks you will get. 5 or 6 Then click this. When you click this then, three lines will get drawn that will also help you out.
Will you help you come at settings then it will show London, New York, Asian. It will depend upon your choice at which you want to take a trade Which pair are you going to?
Asian means Australian market, JPY etc. gives good movement in this. In New York, Gold will give good movement and crude will also give good movement. In New York a pair of USD will also give good movement.
In London it means Europe, Euro, GBP Swiss, Franc, all this etc.
It depends, if in your pair, JPY is not there, close it.
If you want to trade in Euro/USD. So, what is this showing, look, the green one is showing that I am shutting down New York. If you look at the green one, you will see it here. Alright!
So here it is showing the sessions that his is the New York session. This is the London session.
This is an overlap. So these are extreme momentum trades.
You can plan like this see. Here you can see the market made a top,
to make another top draw the line here and buy on this breakout. This could be one trading strategy, right?
So, in this way, you have to develop your own trading method. You know where the market has been sideways here on this range and the market caught the uptrend when this session started.
You can buy or exit here.
You can use this. So, install Sessions in which it is written Parkfx, this will help you with the timings. Ok I hope you enjoyed this video.
And if you like it then like this video or I told you that forex@boomingbulls.com is my email address, send your details, when ID number will come, login to MT4 and you can start with a demo account.
Try a lot of my analysis videos and try. Ok.
Thank you so much, next video will be how to create DOW JONES The next analysis will come as an analysis; I will get it done by this evening or Tomorrow Sunday morning, I will get it done.
After that will come how to trade JOW JONES.
Basics means which pair is US 30/ US 100 and US 500, there are three things.
Which one do you want to take? I will prepare all the things for you later.
Thank you so much. Bye.
See you soon in some other video..
