Welcome to The Forex Show - a free trading show covering key topics, Forex analysis, Q&A sessions, and more.
Below are all the current episodes. To watch each episode, click on the links. The show is entirely free.
Episode 1: The Best Tools for Forex Trading
Episode Summary: Review the best and most essential Forex trading tools.
Episode Notes:
Economic Calendar: A simple calendar is available at Forex Factory. For more experienced traders, I suggest the economic calendar at Trading Economics.
PIP Calculator: I use this one from XM. You will need a PIP calculator if you have a position size feature available on your trading platform.
Charting Software: Your ultimate choice is TradingView. It is also available as a mobile app. If you dislike TradingView, MetaTrader 4 may be your next best option.
Something to take Notes on—either a desk notepad or note-taking software. I use a desk pad like this.
Performance Tracking Software: Myfxbook and Forex Factory offer free performance tracking software. Alternatively, you can use Excel (or similar) to create results tables and equity curves. I also use Excel to track critical economic data, such as interest and inflation rates.
Recommended Book: 'Come into My Trading Room' by Dr. Alexander Elder.
Answered Questions: How much do you need to start trading? What is the best advice for new traders?
Episode 2: Using Basic Fundamental Analysis
Episode Summary: Learn the basics of Forex fundamental analysis
Episode Notes:
Interest rates drive the currency markets.
The essential economic figures to track are
Interest rates: Are they hiking, being cut, or pausing
Inflation rates: These will directly impact potential interest rate changes
Unemployment rates, PMI figures, retail sales, GBP growth - These figures indicate the economic health of a country
Learn more about fundamental analysis in my free Forex Fundamental Analysis Course.
Recommended Websites:
Trading Economics - Historic economic data and an economic calendar
Bloomberg TV - Real-time market commentary and news
Answered Questions: n/a
Episode 3: Using Price Action
Episode Summary: How to use price action to trade Forex
Episode Notes:
Price action can identify market direction and where to enter and exit trades.
Focus on significant swings. They provide more precise trend direction and more rewarding support and resistance zones.
When using swings to identify trends, use swings with unique chart space.
Consecutive swings of similar height or depth can signal potential reversal or consolidation.
Price action setups trigger a trade, but they are not the reason to enter or exit a trade.
Learn more about price action trading in my Ultimate Forex Trading Course.
Recommended Books:
Come into my Trading Room- a great all-rounder. A must read for any trader.
How to Invest in ETFs - Perfect for trades looking to trade or invest in ETFs.
Answered Questions:
Q: How old is Samuel Morton?
A: Late thirties
Q: Are Forex profits liable for tax?
A: Yes. Please speak with an accountant. In the UK, Forex profits can be liable for capital gains tax. They can also be tax-free if you're spreads betting or classed as gambling.
Q: Do you trade economic date?
A: Yes. I analyse and trade economic figures and data.
Q: Do you trade indices and commodities?
A: Yes, but not often. I trade both as CFDs or spread bets.
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