Forex world

March 01, 2023

About CaPhiLe.Com

CaPhiLe.Com is a Blog sharing knowledge and experience in the field of foreign currency investment (forex) by the main method of Technical Analysis.

Hope readers support and give constructive suggestions to make the blog better and better, bringing many useful values to the trader community, especially new traders entering the field of forex investment.

First, and most importantly, you need to understand that forex investing is not an easy field, high risk, even it is very difficult and not suitable for everyone.

However, if one is suitable for it, the results will be enormous, then it is possible to achieve a perfect life, financial freedom, time freedom and life freedom.



1.1 Learn the basics of Forex such as: What is Forex, can it be profitable, should I join this market, what are the potential risks of forex,...

1.2 Learn basic concepts in Forex trading such as: What is a Currency Pair, What is Stop Loss, What is Take Profit, How to Set Stop Loss and Take Profit, What is Spread, How Leverage is Calculated, How Calculating profit when entering orders, daily/weekly in what period the market trades, what are the trading sessions,...


2.1 Install the most popular software for Forex trading - named MT4 (MetaTrader 4)

2.2 Learn how to use the basic features of MT4 such as: How to view a chart of 1 commodity (1 currency pair), how to read the meaning of the chart by timeframe, how to read and understand the price on the chart at time,... (See details in the article How to use Metatrader 4)


3.1 Philosophy of Technical Analysis: What are the 3 axioms of technical analysis? Why did you choose technical analysis as an investment and analysis tool in Forex?

3.2 Types of charts in technical analysis: What are the 3 types of charts in technical analysis? What are the advantages and disadvantages of each type?

3.3 Learn and understand important concepts in technical analysis such as: Trend, Trend Channel, Trendline, Trend change signal, Resistance, Support, Elliott Wave, common patterns in technical analysis (morning star, evening star, cup and handle, head and shoulders pattern, 2 tops, 2 bottoms, 3 tops, 3 bottoms,...) and especially note how the VALUE SIGNALS show In these models,...

3.4 Learn about indicators commonly used in technical analysis, such as: MACD, MA (moving average), Fibonacci, Stochastic Oscillator, Ichimoku, RSI, CCI,...


4.1 Practice judgments and forecasts: Open Metatrader 4 with any currency pair and then start identifying and predicting price trends; after the price runs, verify the results; Try to find out the reason for the result (what could be right, what could be wrong); Continue doing it again with a new cycle or another currency pair or another commodity (gold, silver, oil, stocks,...); Continue to verify; Continue to find out why; .... so this process will be continuous, non-stop, and more and more will be felt more and more clearly after the number of statistical samples (the number of predictions) gradually increases... Over time Over time you will form a system (trading system with separate order entry and exit rules) for yourself.

4.2 Continuous learning - training and practice: This process is fast or slow depending on the ability of each person. But, you need to remember that with other career skills it usually takes 10,000 HOURS of PRACTICE to become a REAL PRO in a profession. So, you need to determine a consistent mindset and a persistent effort from the very beginning before deciding to pursue a certain profession, not just Forex.

4.3 Clearly define your own system: After the process of learning, training and practicing, verifying the results, drawing experience, ... then correcting the wrong points, promoting the right. ...that process is continuous and non-stop - along with it always have to keep a consistent mentality and persistently pursue... At this point, you will form a system for yourself. , then confidence has started to appear every time you trade, winning orders also gradually increase, losing orders gradually decrease, and most importantly, STABILITY has begun to appear (eg 10 orders you have made) won 6 lost 4, and when you go up to 20 orders you also win around 12 orders, up 100 orders you also win around 60 orders, ... that's the stability of the system)


5.1 Create a demo account and start trading: There are many Forex Brokers to choose from when creating a demo account. When creating a demo account - demo account - is an account where you trade like a real account, but the only difference is that the amount of invested capital is virtual money, ie profit or loss in the demo account. then you don't gain real money, or lose any money from your pocket. The purpose of the demo account is for you to test your system. You need to try to "imagine" it as your real money, so that you can be more cautious when entering trades, so that you discipline your own trading process. In addition, creating a demo account is for you to practice CAPITAL MANAGEMENT - a very important issue in Forex. If you have a good trading system but poor capital management, you can still fail, keep this in mind.

5.2 If the demo account can grow steadily (with steady and steady profit) over time (usually 6 months or more will be called stable). You can start moving to the next step. If that doesn't work, go back to step 5.1 and practice again. Usually at step 5.1 (demo trading) is the step that takes up the most time for a trader, some people trade there every year, some people trade for a few months and can move on to the next step, the rest - me I see many people keep trading year after year in step 5.1 because they trade demo forever and only lose - can't win, or win and lose (unstable), there are also people who are too hasty to skip this step. In order to advance to real account trading, most have to pay the price for this haste.

5.3 Continue demo trading: Here, when the system is temporarily called complete, you have certain confidence and the system also brings stable profits (more or less profit is not as important as STABLE). You may need to add a psychological element to your trading. So you can find contests "demo trading - get real money". This is the perfect solution for the final stage of testing the system before putting your own money into the trade. There will be no shortage of demo contests for cash prizes held on reputable Forex brokers. In these contests, the psychological factor will begin to affect your trading principles and discipline, and may cause you to get different results than if you were trading entirely on your account. pure demo (without contest).

5.4 Start real trading: If your pure demo trading or contest demo both give stable results, you can start real trading with small to medium amounts (don't trade large amounts at this step). ). This can be called your first harvest period. When you actually use your own money to invest, you will find that results can still be different from previous results, because during this period, the psychology of trading has a HUGE influence on your trading orders. friend. Trading psychology is at the heart of everything, it affects your entire journey, it affects both the trading system and the principles of capital management. At this stage, there is one problem that you also need to pay attention to, that you have to know "choose the right place to trade" - That is, you must learn carefully and choose a reliable Forex Broker with many favorable factors for you. your trading style, because if you spend a long time trading and your account is profitable, but if you choose the wrong broker and they don't pay when you withdraw your money, your efforts will be meaningless. . At this stage, if you can maintain stability (profits are even and stable, it doesn't matter much or little - remember - just be stable) then you have set one foot to the top of this profession. - The other leg is of course in the last 2 steps.

5.5 Make a plan to make money: At this point, although reading this step may take you only 15 minutes, in fact to be able to get here on the journey to conquer forex can take you 5 years, or 10 years, maybe you excel in only a few years, but you have the right to be proud that you have made it to the finish line. And I would like to confirm here that you are among the 5% of people who succeed in forex, the remaining 95% have failed / gave up halfway / are still walking / or are still stuck somewhere in this journey. Now you can make a detailed plan for making money - even making a lot of money from this market. That plan includes contents such as: Amount of invested capital, average profit per month, profit rate, profit target, detailed time plan for implementation, ...

5.6 Plan to use the money: If you have been able to make money and make a lot of money from Forex, you should use the money wisely. This may not be a step in the journey to conquer forex, nor advice or share anything from myself. You can take this as your request - the author of this blog - who will try to devote all his heart to sharing everything in his power. If possible, please pay attention to social issues, pay attention to difficult situations, share with unhappy life situations, etc. Try to do more good deeds when possible. I have always believed that "doing good deeds does not have to wait until you are rich", and I also believe that "rich people will do more good deeds than poor people". I will feel that the content and messages shared in the blog are meaningful, when it can awaken a goodwill idea of ​​someone who has visited this place.

The whole journey that I briefly shared above is just a "framework" - like a journey with remarkable milestones. In this journey, as you begin to implement at each stage, you will encounter many other problems that I cannot list them all here. But, as long as you are always oriented on the way to go, are consistent with your career goals, persistently give your best effort, then I believe you or anyone can get there. Because, the barrier to entering this Forex profession is very low, which means that anyone can access it, without much discrimination in terms of qualifications, IQ, age, knowledge, understanding , investment capital (even a round zero capital can still do), language, religion... all are flattened in this field. The only necessary thing is that you are an ordinary person like everyone else, that is enough for you to approach this field. As for whether you can achieve success or not, no one can say in advance - including yourself, as the steps of the journey that I shared above talked about it.

Now, let's start the journey with the next articles!

Thank you for being here, and following this blog.

Thanks very much !

Best regards,


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