Forex Trading Homework Assignment
- Diamond "TinyBoss" Johnson
- May 2, 2022
- 2 min read
Calling all Forex Traders in Team Elite Legacy!
This is a crucial time in financial and economic history, as inflation is at an all time high. News reports have been flooding in, informing people of an upcoming decision on where the U.S. Dollar will hit its highest peak, before - eventually - crashing down. The economy is overdue for another correction, as was experienced back in the 2008 housing market crash, following the Great Recession. It not only affected the U.S. Markets, but globally, all countries were facing this dilemma.
Why are we talking about this negative news of yet another Great Recession and Inflation bubble burst? Because we trade off of negative risk sentiment as Master Traders. Trading off of people's emotions and opinions about the country's economy is more important than trying to figure out what the banks and FED are doing. To best prepare for this upcoming phase in economic history, below is a 2-week homework assignment for you all to actively participate in:
1. Have your Demo account set up
2. Calculate your risk
3. Pick 3 pairs you’d feel most comfortable with (just pick any pair)
4. Sign up on Babypips.com for free (to get market analysis updates via email) --> https://www.babypips.com/account/join
5. Sign up to be a member of TinyBoss Blog (and use the forum for any questions or comments)
6. Trade on your pairs and write your trading journey down in a journal
7. Trade and come up with a trading strategy (swing trading, day trading); Learn to take profits
8. Read one or two blog posts each week and comment one or two things you have learned from it
9. Watch one or two of the motivational videos each week and comment one or two things you have learned from them
10. If you all request a Live Trading Session, where we all take a trade together, please comment in the AMA: Forex Trading Forum.
If you have any questions, feel free to comment on this blog or in the Forum. Right now is the time to pay attention to where the markets are headed. Who knows what golden opportunity will show up!
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