Buy low, sell high! How hard can it be?

Who is david pegler

� South African

� US resident and Citizen

� Ex Army Sniper

� UNISA Graduate BSC Accounting

� London Currency Coach FXBootcamp LLC

� NFA Series 3 and 34 qualified

� Head trader Sound FX Capital Management

Trader Timeline

Trading components

� Technical Analysis

� Fundamental Analysis

� Mechanics of trading

� Trade management

� Execution

� Money management

� Trader psychology

� TRADER SMARTS, COMMON SENSE AND REAL WORLD LOGIC.

Trader smarts, common sense and real world logic

� The market is people.

� People share common behavioral patterns.

� We wake up at the same time.

� Have the urge to eat at the same time.

� Have the urge to take breaks at the same time.

� Feel tired at the same time.

� Our desire to buy low and sell high is aligned.

� Control Risk!!!!

Trader smarts, common sense and real world logic Cont.

� The intraday market moves with these normal human tendencies.

� Time Of Day(TOD)is the unsung hero of Forex.

Time of day tendenciesIntroducing trader Fred.

� Trader Fred

Day in the life of Fred the trader

� Fred lives in London

� 4:45 wake up

� 5:15 breakfast

� 6:30 reports to work

� 7:00 analysis finished ready to trade

� 8:00 market opens

� 10:30 Fred needs lunch

� 12:00(7am EST) Fred returns for afternoon trading

Day in the life of Fred the trader cont.

� 14:30 NY open

� 16:00 Home time

Buy low, sell high

� Trend notwithstanding

� Market open, at resistance, sell

� Market open, at support, buy

� Neither at support nor resistance, stay flat

Defining support and resistance

� Average daily range

� Extreme pivot points

� Key moving average

� Key fib levels

� Visual support and resistance

� Key psych levels

Q & A