MONTHLY WEBINAR: Strategic & Tactical FOREX Trading (Part 2)

Expert: Wayne McDonell, Chief Currency Coach at FxBootcamp
Moderator: Maud Gilson, Conference Manager

Summary:
A trader with a SMART PLAN for every trade, a trade plan based on solid analysis before they pull the trigger, has a much greater survival rate on the long-term. Reacting to the market is a simple game of chance. This may work for some traders on the short-term, but eventually, their luck runs out.

Planning a trade in advance allows a trader to gather intelligence and formulate a strategy before they execute the tactics of getting in/out of a trade according to the plan. The benefits to learning how to plan your forex trading are immediate. First of all, you stop making stupid trades. Second, you make less trades. Lastly, you end up making the same types of trades repeatably, which means you can trade with this methodology throughout your career and not rely on your gut instinct or a flip of the coin.

In Part 2, Wayne McDonell will help Premium Members of FXstreet.com apply the SMART PLAN methodology to the live charts.

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Part 1 of this webinar is also available.

Webinar presented by FxBootcamp and FXstreet.com

Comments

[Gamal]

Hi,
this is the best ( FX basics )presentation I have seen throughout 11 years, and I am sure you still have alot to tell.
thankyou( Prefessor ) Wayne.

[Maud Gilson]

Thank you very much for your nice comment Gamal! We will forward to Wayne.

Maud Gilson
Live Sessions Manager

[Wayne McDonell @ FX Bootcamp]

Thank you for the positive feedback Gamal.

I love what I do and I am happy to share my enthusiasm. I am glad that you found the video beneficial.

Best regards,

Wayne McDonell
FX Bootcamp, LLC
http://www.fxbootcamp.com

[Noel Daniell]

Re your recording of Wayne McDonnell's 2 hour training session. Thank you FX Street and FX Bootcamp for making this available to me. Very insiteful and rewarding to watch this.

[Maud Gilson]

Hi Daniel,
thank you for your nice comments. Providing our users with high quality contents is our goal and we're glad to know our education effort is appreciated.

Maud Gilson
Live Sessions Manager - FXstreet.com

[Joachim Deichert]

Hi Wayne,

just thank you very much for that webinar on Strategic and tactical Forex Trading. It helped me a lot,

Joachim

[Bill]

Dear Wayne,
I am new to Forex. I have invested about 1000 hours,(on top of running my own exterminating business, and another part time job) reading, studying charts,and devising trade plans on the weekends, which resulted in failure in live demo trading. I stubbled on these video's a few weeks ago, and applied all the MA's to my charts.
All I can say is WOW!! And thank you so very much I have spent another Sunday watching your video for the sixth time, and sure enough, I picked up another key point. My trading has gone from 3 in 10 positive trades, to 6 and my other 4 are either break evens or small pip losses.

Thanks to you, I will be trading my real money next week with humility and confidence.

When I get my 38 foot yacht...it will be named the "Wayne"

Sincerely, Bill

[Maud Gilson]

Dear Bill,

thanks for your nice comments. I have forwarded them to Wayne!

Regards,

Maud Gilson
Live Sessions Manager
FXstreet.com

[Elliott Tyrrell]

Thank you so much for your generosity and insight. yesterday I attended your free non-farm payroll presentation and it was masterful. today I reviewed this amazing 2 hour forex prentation. In just 2 days I received incredible value from your presentations. Great forex strategies and tools for free. You provide so much value.
Thanks again for who you are and what you provide.

[Derek ji]

Great presentation. Help a lots. Very useful.

[robertmc]

Hello from Tallahassee--
I sat in on the NFP webinar and while I learned some from it, this video blows 'em all away. Best.basic.trading.info...ever!
Thanks, Wayne

[Ozren]

All what I can say is this is an eye opener, I spent lot of time reading the books and watching the charts but this is tremendous , thanks a lot Wayne and all others for this video!!! Thanks , Thanks, Thanks!!!!!

[mark lavine]

i just want to thank you also. i have been trading full time for the last year. i am making money but did not really understand why??? now i do and you have taken away the majority of stress that was in my trading day. thank you for all of your effort, you will find me in your trading room soon.......sailor

[Eduardo]

Great presentation as usual! Wayne rocks and helps us rock too!!!!!!!!!! Thanks a lot Wayne! All the best for you! hugs and pips to you!

[Maud Gilson]

Dear all,

thanks for your great feedbacks. I will forward them to Wayne right now!

Don't forget you will find all our webinar recordings at: http://www.fxstreet.com/live/transcripts/

Thanks!
Maud Gilson
FXstreet.com

[bekir]

Again, I have another very succesful trade in the over night Asia Session on EUR/USD. In the past I would have gone long instead of, now logical, short and wonder what I've done wrong. Please accept my sincere thanks Wayne.

Sincerely,
Bekir

[wilson]

this is a great webinar. i would like
to download it to my computer so I can
play it anytime. how? thanks for any help.

[Kem Stralka]

I just took the monthly seminar and it was exceptional! I thank you very very much! I really learned a lot.
Question: How do you calculate the M1 - M2 pivot points?
I use a pivot point calculator but it does not factor the M's.

Thanks again!

Kem

[Wayne McDonell @ FX Bootcamp]

Hi Kern, the M pivots are simply in the middle of each of the Support and Resistance pivots. For example, M1 is in between the S2 and S1 pivot points.

FXstreet.com has a free pivot calculator... make good use of it! http://www.fxstreet.com/forex-tools/pivot-point-calculator/

The formula is such:

Pivot = ( High + Close + Low ) / 3

Resistance1 = 2 * Pivot - Low - Normal Trading Range
Support1 = 2 * Pivot - High - For The Next Period

Resistance2 = Pivot + (Resistance1 - Support1) - Extreme Trading Range
Support2 = Pivot - (Resistance1 - Support1)

Resistance3 = High + 2*(Pivot - Low)
Support3 = Low - 2*(High - Pivot)

Therefore, the M-lines are the distance between Pivots, divided by 2.

If you join FX Bootcamp, we'll show you how trade with them. We do it live everyday from the London open util the New York close.

[Rafiq]

Hi Wayne,

I am new to your live sessions and have just completed absorbing your excellent 2 hour video.I have taken many seminars and lessons and your session is by far the best I've seen. It is very impressive, detailed and clear. The only hiccup is the pivots and R S and M. The formula is clear, but does GFT provide this with their charts - I could not find them?

Rafiq

[Wayne McDonell @ FX Bootcamp]

Thanks Rafiq,

You are right, GFT does not offer the pivots you see in the video. What is see is a proprietary plugin owned by FX Bootcamp. We give the code to members who fund a live account with GFT or who upgrade their membership to Annual.

Not only do our pivots map the M lines, but they also measure fibonacci levels. FX Bootcampers look for over laps of these pivots and fibs, what we call "Fibots". We find them to be very important levels in our trading.

Again, thanks for the great feedback. We put a great effort into your success. If you can't afford to become a member of FX Bootcamp, you'll still have a ton of free resoruces we've made available to you on FXstreet.com

Wayne McDonell
FX Bootcamp, LLC

[simon sikorski]

best seminar I've ever seen. And this all knowledge is for free?? Give me a break... There is so many great ebooks for 0.99$ ... ;)

Bill wrote earlier: When I get my 38 foot yacht...it will be named the "Wayne".

That means, that there will be at least 2 yachts named "Wayne". And You will be allways welcome on board! :)

thank You very much for your effort, Prefessor Wayne!

[Wayne McDonell @ FX Bootcamp]

Thank you for the great feedback Simon, but I have a suggestion for you... buy a jet plane and name it "Wayne". It will be less confusing that two yaughts witht the same name! ha ha ha ;-)

May the pips be with you.

- Wayne McDonell http://www.fxbootcamp.com

[chau ong]

thank you , thank you, thank you, man, people charge thousands of dollars for basic stuff that is not even close to what you just did, geez, those guys are just not good :), you are the man

[Daniel]

The best presentation I have ever seen. Well done Wayne! 5/5