Download the Forex Strategy Course For Weekly Charts. Get the eBook explaining the forex weekly chart tactics, plus over two hours of video with trade examples.
By Cory Mitchell, CMT (see my bio at the bottom)
If you have limited time but want to capitalize on the forex market by only looking at your charts once per week, or, if you want to increase your current trading income without impeding on your current strategies, then the Forex Strategy Course For Weekly Charts will help you with that. Trading off the weekly charts has the potential to provide a consistent revenue stream (with practice) and once you know the strategies and what to look for, it only takes about 20 to 30 minutes each weekend to find new trades and manage current ones.
Trading on forex weekly charts can be done in conjunction with other forms of trading, such as day trading or swing trading. Since trades, based on this weekly chart strategy, are only updated once per week you still have all your time during the week to implement your other strategies (or go to your day job, school, etc.).
Course Will be Released in May 2017…so be patient 😉
Get an Email Alert When It is Ready:
The Benefits of Utilizing This Forex Strategy on The Weekly Charts
—Will likely see a higher win-rate than shorter-term strategies (win-rate is how many trades you are profitable on as a percentage, so winning 8 out of 10 trades would be a 80% win-rate). Because the weekly charts take longer to form, there is less “noise” on the chart to confuse us. Also, once momentum gets going on the weekly chart, it tends to keep going (at least enough for us to make a profit). On the weekly charts, I expect my win rate to be 75%* or higher.
—Get paid daily for every trade taken. That’s right. I only take trades that will actually pay me interest, daily, to hold the position. This is very beneficial because some of our trades may last weeks, but by taking trades that give us daily interest we are getting a little something for our time each day. These small interest payments increase the gains realized on our winning trades, and also help to offset any losing trades we may experience.
—Hardly any time commitment. It will take at least several months to learn and practice this strategy and start producing a consistent profit (you need to learn what trades to take and which to leave alone). But, once we know what to look for, we only need to be looking at our charts for about 20 to 30 minutes each weekend. Trades are placed and updated once trading begins for the week–preferably Sunday night (or whenever trading begins Sunday/Monday morning in your location).
—Lots of small winners, a few big winners and a couple small losers. That is the typical return distribution I expect to see on these trades. Lots of small gains of about 1%, 2% or 3% (based on account balance), some losers of 1% or 2% (the most I am willing to lose), and then some bigger gains of 4%, 5%, or more, when bigger trends develop. These percentage are all based on the account balance. So we are making those returns on the entire account, not just capital deployed (this all has to do with selecting the proper position size so we are utilizing capital effectively).
—Can still trade other strategies. Trading the weekly charts can be done on its own, or while trading other strategies. It takes up so little time, and not much capital, that you should still be able to proceed with your normal day and swing trading strategies without being significantly affected by your trades on the weekly chart.
—Can maintain good percentage returns whether trading a $4,000 account, or $4,000,000. That is pretty rare, actually. Most shorter-term strategies start to drop off in profitability (percentage terms) the more capital that is deployed. It is much harder to day trade for a high percentage return with $5,000,000 than it is with $5,000. The market has a harder time absorbing larger and larger amounts of capital in small time frames, so day traders get capped on their percentage returns the larger their account grows. But with trading on the weekly charts, a trader can continue to grow their account and continue to see good returns because the trade is based on a larger time frame.
Disadvantages of Weekly Charts? I Wouldn’t Call Them That…
Weekly charts provide us cleaner movements and tend to produce higher win rates than shorter-term charts, in my experience. So is there drawbacks? Sort of….but not really.
—On weekly charts we be taking fewer trades and utilizing less leverage. That means our return potential is lower than with day trading, for example. With day trading we can potentially take several trades a day, wracking up gains and realizing profits very quickly. On the weekly chart, our trades may last weeks or even months. So we have less return potential…but remember: you can trade weekly charts and still do the other forms of trading you enjoy. Trading the weekly chart is just a bonus (or can be used on its own).
—Need at least $4,000 in starting capital. Without that much, you won’t likely be able to utilize the weekly strategy effectively.
—This course does not cover forex basics. We are just looking at trading weekly charts in this course. If you are just starting out in forex trading, it is recommend you read the Forex Strategies Guide for Day and Swing Traders before tackling the Weekly Charts course. That guide is a great introduction to forex, and also provides the background for some of the strategies used on the weekly charts. That said, I trade differently on the weekly charts compared other time frames, which is why it deserves its own course.
What This Course Teaches You
–Why weekly charts provide more consistent results (tend to produce higher win-rates than the lower time frames).
–What pairs to trade on the weekly charts.
–How to get interest paid to you every day by taking certain trades.
–How to analyze weekly charts (slight alterations compared to how we analyze other time frames).
–How, why, where and when to enter trades.
–How to limit risk using a well placed stop loss order (gets us out of the trade if the currency moves against us) and our position size (how much of our account we risk on a single trade).
–How to get out of trades once they move in our favor. The exit technique helps produce those small wins, a few big wins and keeps the number of small losers to a minimum.
–Lots of chart examples via the Forex Strategy Course for Weekly Charts eBook and the couple hours of videos.
Introductory Price Will Be: $39.95
It is recommend that you have studied the Forex Strategies Guide for Day and Swing Traders before studying this Weekly Course. The Weekly Course will add to what you learned in that course, as well as provide some different ways to trade and analyze the market.
The Forex Strategy Course for Weekly Charts is 100% Guaranteed:
If you follow the steps and guidelines in this book and you don’t think you’re a better trader because of it, I will refund you 100% of the purchase price within 30 days. I don’t guarantee trading profits–that’s up to you, and putting in the practice necessary–yet I do believe the information contained in this course will greatly improve your chances of becoming a profitable trader.
The Forex Strategy Course for Weekly Charts is produced by me, Cory Mitchell, a Chartered Market Technician, member of the Market Technicians Association, Canadian Society of Technical Analysts and the International Federation of Technical Analysts. I’ve been a trader since 2005.
I worked for seven years as a proprietary trader for a trading firm(s), doing one of the toughest jobs on the planet (also the most fun)–extracting profit every single month; if I didn’t make a profit, I didn’t get paid (no salary, everything was dependent on performance). These are forex strategies forged by relentless dedication to trading, and tens of thousands of trading hours and trades. In 2011 I moved my focus to trading independently, and helping others by sharing what I’ve learned. I freelance for, and have been vetted by, some of the largest financial sites in the world, including TheBalance and Investopedia, among many others.
*My goal is to be profitable on at least 75% of these trades. Win-rates vary over time, though, based on market conditions and also our own mind frame. Sometimes we are making great decisions and other times we aren’t. Trading is subjective, and past performance is not always indicative of future performance. The results we get out are a function of the effort put in to applying the concepts and adapting to market conditions that constantly change.
Risk disclosure: All views expressed in the course are my opinion. The strategies contained in this course are subjective in nature, which means they require practice and fine-tuning as you progress and as market conditions change. This course should not be viewed as personal investment advice for you. I don’t know your personal financial situation, nor your financial goals or risk tolerance. Consult with your financial advisor before acting, as my opinions may not necessarily align with your long-term goals or risk tolerance. Forex trading involves substantial risk of loss, and it is possible to lose more funds than you initially deposited with your broker. For additional risk information on trading, see the Legal Disclaimer page.