The Forex Scalpers Community - Introductory PDF
Welcome to the community! You are now part of a family of 1000+ traders of all abilities, ages,
backgrounds and nationalities, who all share the same goal - financial freedom achieved through
successfully trading forex. This PDF will help you to structure your learning, as we have a huge
database of continually updated information including webinars, daily analysis posts, articles,
books and more on everything forex related. Read this PDF carefully, follow the guidelines and
work hard; before you know it you will be on your way to forex mastery.
House rules:
You will be or have been added to our group chats where we work daily as a team with other
traders. We provide daily content, answer questions and share our own visions on the market. We
DO NOT offer signals, since being dependable on something or someone will not get you to the
next level. However, we do attack the market as a team.
In the chats we treat each other with respect and dignity, we do not use offensive language
towards each other and we respect people of all genders, nationalities, ethnicities, backgrounds,
religions etc. This is a worldwide group so respect everyone and you will be given the same
respect back.
There are three mentors in the group: Kev (theforexscalper), Jamie (Jamie mentor) and James
(J.E.Forex). We spend a lot of time every day helping people in the community, posting analysis
and answering questions. Feel free to privately message us or tag us in any questions in the group
if you need help.
Using the group chats:
Please post a picture of the chart with your analysis, it makes it much easier to understand and
comment on. Random calls like EU will go up, are useless without a valid explanation and picture,
and explanation helps everyone learn.
Do not try to sell signals or further your own personal business to other members of the group.
Please regularly check, but do not post in, the announcement channel in the slack group. It is
regularly used by mentors every day to give important updates on current market conditions or give
out important information that we believe the whole group needs to see. These posts can be easily
lost in the busy main chat, so always check the announcement channel.
The group is designed so that everybody can learn from each other and support each other on our
individual journeys.
How to structure your learning:
1. READ THE BOOKS - Read the as many of the following books as possible before doing
anything else, as they give hugely important forex basic knowledge, without which you will
never be able to understand what is going on in the groups or on the charts. All of these books
can be found in the drive by clicking Starting Here and then Books must read
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The Candlestick Trading Bible
Japanese Candlestick Charting Techniques
Naked Forex
Supply and Demand (We don’t need no stinkin’ indicators)
At minimum, read one of the first three along with the Supply and Demand book, as these will give
you a working knowledge of candlesticks and support and resistance - these are the key to our
method of technical analysis.
2. SET UP MT4 - Set up metatrader 4 or use trading view for your technical analysis. Also, get a
broker - for non-USA people go to IC markets and make a True ECN account. IC Markets is the
best because of their customer service, their withdrawals are fast and there are no problems
with executing your trading. If you are from USA you should try another broker. Having an MT4
account set up means you can start spending long amounts of time on the charts and trying to
see how the knowledge you have gained from the books in step 1 can be applied.
3. UNDERSTAND THE STRATEGY AND ENTRY STYLES - This is perhaps the longest step in
learning technical analysis because learning the strategies means applying your knowledge
from the books to real charts and then learning how to trade from them. We trade 3 main entry
types in the group, but they all centre around a deep understanding of using supply and
demand and candlesticks. We trade direct breakouts, retests and reversals. There are many
pdfs and webinars in the google drive and member zone explaining how to trade these different
entry styles and the overall strategy. Read up on them and then CHOOSE ONE entry type and
work on understanding it perfectly and perfecting it. This can take time - you may choose direct
breakouts but find that these do not work so well for you and then instead focus on retests, you
just have to try and see what style best fits your own personality and trading style. However, we
can not stress this enough, CHOOSE ONLY ONE ENTRY STYLE AND PERFECT IT.
4. PRACTICE PRACTICE PRACTICE - Now you should have a good understanding of the charts
and know the theory of what to look for to take entries. Next you must continually practice
taking these entries on a real chart. We recommend trading a live account as a demo is very
different psychologically, but at the start trade with extremely small lot sizes (minimal risk) and
trade only with what you can afford to lose. Trading involves a huge amount of trial and error,
so being honest, it is likely you will lose some money at the start, therefore by keeping risk
small you can minimise the financial impact. Trading is not a get rich scheme so you will not be
making millions instantly. Every sports star took years to get where they are. Usain Bolt ran for
hours and hours and hours just to run for 10 seconds and win gold medals. Practice makes
perfect so keep putting in the time and learning from your mistakes and you will eventually
succeed.
5. PSYCHOLOGY - Now you understand technical analysis and can trade live, you will begin to
notice the psychological difficulty of trading. To understand this and overcome every
psychological barrier takes a lot of time and mental strength, and is ultimately down to you as
you need to be the master of your own mind. However, for help in achieving this, read Trading
in the Zone and The Disciplined Trader (both by Mark Douglas and both in the same section as
the previous books in the drive). There is also a section in the member zone community forum
on psychology in trading, which is regularly updated with new articles.
Summary:
• Welcome, you are in the right place if you are willing to work and want to succeed
• Work hard - there is a lot of material to go through and you will never stop learning, but that is the
beauty of forex
• Read the books, learn the strategy, choose ONE entry type, PRACTICE
• Master your own mind
• Keep improving
We hope forex brings you all that you seek and we will be here to guide you along your path and
help all that we can. Welcome to The Forex Scalpers.