Precision FX Basic Training

GO THROUGH ALL OF THESE INSTRUCTIONS AND VIDEOS IN ORDER TO SEE IF YOU HAVE WHAT IT TAKES TO BE A TRADER!!


This is a once in a lifetime opportunity for you. Treat it as you would if the PERFECT business opportunity or the PERFECT career opportunity came along. You would take copious notes and pay very close attention to every detail. Do the same here.

PAST PERFORMANCE IS NOT NECESSARILY INDICATIVE OF FUTURE RESULTS.

BEFORE YOU BEGIN TRADING OR GET ACCESS TO THE SYSTEM SEE FULL DKNR FOREX RISK DISCLOSURE, DISCLAIMER, AND LEGAL INFO HERE

PAGE OUTLINE – DO THIS IN ORDER

BE SURE YOU SET THE VIDEO QUALITY TO 1080P HD BEFORE STARTING THE VIDEOS

Instruction Welcome Video

  1. BASICS SECTION
    1. What is Forex?
    2. MT4 instructions
    3. Advanced MT4
    4. Opening Demo Account – (not needed for experienced traders with existing MT4 accounts)
  2. TRADING PLAN
    1. Section 1
    2. Section 2
    3. Section 3
    4. Section 4-5
    5. Section 6-8
    6. Section 9+
  3. JOURNAL
  4. RISK MANAGEMENT
    1. Intro
    2. All at once everything
  5. EXECUTION
    1. Session 1
    2. Session 2
    3. Session 3
    4. Session 4 and System

Appendix A – downloadable files AND SELF TEST


WATCH WELCOME AND INSTRUCTIONS VIDEO


BASICS


What Is Forex?

MT4 Basic Instructions

Advanced MT4

Open Demo Account


TRADING PLAN


TP SECTION 1

TP SECTION 2

TP SECTION 3

TP SECTION 4-5

TP SECTION 6-8

TP SECTION 9+


JOURNAL


Journal Advanced


RISK MANAGEMENT


Risk Intro

Risk Management ALL IN ONE SHOT


EXECUTION


Execution 1

Execution 2

Execution 3

Execution 4


Appendix A

Forex Personal Trading Plan Master

DKNR Trading Journal

 

Precision FX Basic Training SELF TEST

This is to ensure you understand the fundamentals of the basic training before you move on. You will know you have the core knowledge of the first 4 steps of training. Don’t worry… no matter how you do you will still move on but if you miss some we would STRONGLY encourage you to repeat and review the material again.

  1. In the quoted pair, EUR/USD, which is the base currency?
      1. Whatever currency is in my trading account
      2. EUR
      3. USD
  2. In a quoted price of 0.12345 which number represents a tick or pipette?
      1. 0
      2. 1
      3. 2
      4. 3
      5. 4
      6. 5
  3. Where do you go to get answers to questions relating to the MT4 terminal and using it?
      1. contact Precision FX with every question
      2. ask Dave
      3. call my broker
      4. use the help section inside MT4
  4. Where do you go to add your cellphone and email to indicator alerts?
      1. contact my broker
      2. contact Dave
      3. brokers website
      4. in the help menu on MT4 platform
      5. in options section
  5. If your computer is running slow during a trading session, what is one possible reason you can adjust inside the MT4 platform?
      1. its really old
      2. Max bars in history in options
      3. I need more RAM
      4. My broker is slow
  6. What is one of the fastest ways to correct historical data loss?
      1. call the broker
      2. call Dave
      3. load historical data inside the chart
      4. load historical data from another file
  7. What is the first step to being a successful trader?
      1. developing a trading plan
      2. lots of practice
      3. finding a good broker
      4. making lots of money quickly
  8. Is it easier for existing traders or brand new traders to learn a new system?
      1. Existing Traders
      2. New Traders
  9. What is your #1 job as a trader?
      1. make money
      2. equity preservation
      3. get best return
      4. quit my job
      5. trade all day
      6. trade at the beach
  10. In the beginning a good rule of thumb is to trade the following risk per trade.
      1. 1 lot per $500
      2. 1 lot per $1000
      3. 0.25 – 1%
      4. 10% per trade
      5. 25% of the total portfolio
  11. It is OK to take multiple positions in a single currency in multiple pairs because they will all move differently.
      1. True
      2. False
  12. What is HFT?
      1. High Financial Target
      2. High Frequency Trading
      3. Hedge Fund Trading
  13. Do brokers make more money off you when you win or when you lose?
      1. Lose
      2. Win
  14. Is it realistic to expect a lot of trades, be a day trader, and get the same large moves and long term trend trades as long term traders in the very beginning?
      1. Yes
      2. No
  15. Risk Management is all about what lot size and what stop loss to use on all accounts.
      1. True
      2. False
  16. Where is a good place to keep the steps to entering/exiting a trade from your trading plan?
      1. On your trading charts
      2. In a drawer
      3. In your wallet/purse
      4. on a notepad
      5. In a spreadsheet
  17. Where is a good place to write down currencies you want to watch that day?
      1. note pad in cell phone
      2. paper note pad
      3. google doc
      4. spreadsheet
      5. all of the above
  18. What is one of the main functions of a journal?
      1. Enter trades
      2. Record Trades
      3. waste time
      4. Analyze Data
      5. decide on an entry
      6. decide on an exit
  19. What is the main purpose of the journal?
      1. Record your feelings
      2. Record your winners
      3. Use to adjust your plan
      4. Record your losers
  20. What is the biggest reason most people fail at trading?
      1. Poor planning
      2. Poor risk management
      3. Poor journal records
      4. Poor system
  21. What size should your demo account be?
      1. whatever they give you
      2. The same as you plan on doing for your real account
      3. 5000 USD
      4. 50,000 USD
  22. Should your stop loss size and trade lot size be the same for every currency pair?
      1. Yes
      2. No
  23. The stop loss you use will work on a live chart exactly as shown when set correctly?
      1. True
      2. False
  24. A currency pair with a larger $/tick will also have a larger lot size with the same risk as another currency pair.
      1. True
      2. False
  25. How long should you demo trade?
      1. 1 week
      2. 2 weeks
      3. 1 month
      4. 6 months
      5. 5 years
      6. none of the above
  26. What is the 90/90/90 rule?
      1. 90 days/90% gains/90% winners
      2. 90 minutes a day/90days/90% gains
      3. 90% of retail traders/lose 90% of their equity/ in first 90 days of trading
  27. Can government leaders share info with big business guys about Forex and news announcements coming up?
      1. Yes
      2. No
  28. What is the predominant trading session that drives most markets?
      1. US Session
      2. Asian/Aussie Session
      3. UK Session
      4. A&B
      5. A&C
      6. All of the above
      7. None of the above
  29. Who are the 2 predominant groups that drive the Forex markets?
      1. Hedge Funds and Institutions
      2. Governments and Big Banks
      3. Politicians and Financial Leaders
      4. Elon Musk and Warren Buffet
  30. Should a good trading system have you watching your charts all day?
      1. Yes
      2. No

 

 

 

 

correct answers immediately below…

 

 

 

 

  1. B
  2. F
  3. D
  4. E
  5. B
  6. D
  7. A
  8. B
  9. B
  10. C
  11. B
  12. B
  13. A
  14. B
  15. B
  16. A
  17. E
  18. D
  19. C
  20. B
  21. B
  22. B
  23. B
  24. B
  25. F
  26. C
  27. A
  28. A
  29. A
  30. B
 
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