Welcome to module 2 of the finding great DIAD Entries course
The Foundation Phase
In the foundation module you:-
- Completed the Udemy Double in a Day Course and learnt to create Double in a Day Trades.
- Reviewed a number of entry techniques
- Selected 3 general technique to trade transactions with a 30 pip stop and 30 pip target.
- Traded the 3 techniques with reasonable success trading at least 30 trade.
- Maintained a trading diary of trades made.
- Recorded the reasons for failed transactions where possible.
- Picked up some trading tips from the one-on-one sessions.
Well done on completing this module.
Link to the Foundation phase webpage if required:- Foundation Phase
The 2nd Module
In this module the focus is going to be more specifically on:-
- DIAD entry techniques
- with smaller stops
- and bigger targets
- using support and resistance techniques only
- Maintaining a trading diary and analyzing reasons for losses.
In this module only live trading will be allowed (no use of the Forex Tester). The Forex Tester remains a great testing and training tool and should be used to develop trading skills on an ongoing basis.
This module will be more challenging and may require more persistence than the previous module.
So let’s start:-
Trades required
In this module we will be going for 20 pip stop and 40 pip target objectives – no transaction management required. 30 traded transactions with an overall 40% success rate is required using 2 or more selected support and resistance techniques
Demo account
Please open a new demo account for this phase and link it to FXBlue
Techniques to be used.
In this module only support and resistance techniques are allowed. Ideally trading should occur on clean charts with no indicators.
Indicator which may be used are
- Envelope indictors on their own as they show dynamic non horizontal support and resistance.
- Long term moving averages is you have good experience of success with these
- Pivot level indicators if you have good experience using those
Channels should be self drawn. Normal charting tools such as trend lines and horizontal lines are encouraged. Price formations that represent support and resistance are also good.
Pending order entries are encouraged.
Preparation
- Please review the support and resistance entries in the Simple-n-Easy entries series. http://www.doubleinadayforex.com/wp-content/uploads/2017/01/SEEntries.pdf
- Please do a thorough study of all Double in a Day trades available on the Double in a Day website. We will be adding trades all the time as they occur. Pay particular attention to the entry methods. You will notice most entries are based of support and resistance approaches. Where available note the time of day when entries occurred.
These options are available from the menu on this page
- We have also improved the presentation of the training material on the Double in a Day website. Please review this material for idea, tips and information on Double in a Day trading.
These options are available from the menu on this page
- If you need any further information about support and resistance techniques please use Google or YouTube for difference and fresh ideas.
Support
This is a very practical module mainly based on your own trading. You should use the 40 minute weekly sessions created for this module to review and discuss your trades regularly.
The Skype / TeamViewer system seems to be working well. Participants seem to have the hang of the booking system which allows sessions to be booked and booking move quite easily.
You can also contact me via email at alex ( att ) expert4x . com
Where required I will supply more trading material and possibly videos to assist with areas common to most traders.
Daily Analysis
Every day there is a daily analysis provided for 3 currencies to give you some ideas. Please do your own analysis first and then refer to this analysis. Theses can be accessed from the main menu by
selecting the “Entries course Analysis” from the Daily Signals option on the main menu. The password is mod2
