←Stage 68 · Premium
Forex

Trading Currencies

Five stages of mechanics, and now the loop, run whole. You'll size in lots, hold through the swap and the weekend, and add exposure by currency instead of by pair. You'll hedge a foreign holding and write a forex plan, then run it for five sessions on the currency desk. Eleven lessons, and the last one hands you the live simulator.

Stage 68 of the TradeWize forex track: the whole loop, run for real. Sizing in lots, the pip value trap, the margin cushion, holding through the swap and the weekend, exposure by currency, hedging a foreign holding, the written plan, and a week on the desk.

0 / 11 done
StartLesson 1 · Sizing in Lots
What you’ll leave with11 lessons · 7-line playbook
  • Lots equal my risk budget divided by my stop in pips times the pip value, in my account's currency.
  • The same pips on two pairs is not the same money, and I size each pair on its own pip value.
  • I know my margin level after the trade, and the price that puts it at the stop-out.
  • Holding past 5pm costs the swap and past Friday risks the gap, and I price both before I hold.
  • I add my exposure by currency, not by pair, before I open the next one.
  • The spread's share of my target decides whether the trade is worth placing.
  • My forex plan names the pairs, the sessions, the size, the margin cushion and the news rule before the first trade.

All lessons

  1. 01Sizing in Lots
  2. 02The Pip Value Trap
  3. 03The Margin Cushion
  4. 04Overnight and Over the Weekend
  5. 05The Correlated Book
  6. 06Hedging Currency Exposure
  7. 07News-Day Rules
  8. 08Scalp, Day or Swing
  9. 09Orders Across the Rollover and the Gap
  10. 10The Forex Playbook
  11. 11A Week on the Currency Desk