I'm not sure how many of you use MACD or EMA's, but I've been working on this kind of "MACD & moving average crossover periods for dummies" kind of thing for the last 90 days. I've wanted to make a simple guide with pre-calculated closing periods that anyone could punch in on a chart, pick colors, and voila! You now have charts with TI's that are logical, have accurate/tight tracking periods, and as long as you can understand crossover, you should be able to make better decisions no matter the trade. Any feedback is welcomed. Figured I'd share the findings. All the closing periods I've listed have a wide range of variety to suit all trading purposes for most products. I hope someone finds the info helpful. Moving Averages (EMA Settings) STOCKS & OPTIONS Simple ShortTerm - 8-13 Simple 3EMA ShortTerm - 5-8-13 Simple 3EMA Short/Mid - 5-10-20 Midterm 3EMA Standard (w/m/q) 3 EMA 5-20-60 Long Term 3EMA Standard (m/q/y) 3 EMA 20-60-240 ____________________________________________________________________________ FUTURES & FOREX Simple ShortTerm - 6-18 Simple 3EMA ShortTerm - 6-9-18 Simple 3EMA Short/Mid - 6-12-24 Midterm 3EMA (w/m/q) 3 EMA - 6-24-72 Longterm 3EMA (m/q/y) 3 EMA - 24-72-288 ____________________________________________________________________________ PRIME - ALL PURPOSE Simple Short - 5-17 Simple Short 3EMA - 5-11-17 Simple Mid (w/m/q) - 5-19-61 Simple Long (m/q/y) - 19-61-241 Complex Long (m/q/y) - 23-67-251 ______________________________________________________________________________ Calculations were based upon the standard 252.75 trading days in a year. To simplify and use whole numbers, in some cases holidays were excluded. For example (stock & options) were partially calculated at 5 trading days a week (Mon-Fri), 20 per month, 60 per quarter, 240 per year, and so on. (Futures & Forex) took into account the 6 available trading days a week (Sun-Fri) and were calculated similarly. PRIME - were calculated in prime numbers only, in some cases rounded down to the nearest prime number most accurately representative of a typical trading week not including holidays in (simple) and including all holidays in (complex). Why did I do this? Because I love math, and primes are the building blocks of whole numbers, and because their odd mathematical properties that made them perfect for my current charting uses.
Forex Trading: a Beginner's Guide The forex market is the world's largest international currency trading market operating non-stop during the working week. Most forex trading is done by professionals such as bankers. Generally forex trading is done through a forex broker - but there is nothing to stop anyone trading currencies. Forex currency trading allows buyers and sellers to buy the currency they need for their business and sellers who have earned currency to exchange what they have for a more convenient currency. The world's largest banks dominate forex and according to a survey in The Wall Street Journal Europe, the ten most active traders who are engaged in forex trading account for almost 73% of trading volume. However, a sizeable proportion of the remainder of forex trading is speculative with traders building up an investment which they wish to liquidate at some stage for profit. While a currency may increase or decrease in value relative to a wide range of currencies, all forex trading transactions are based upon currency pairs. So, although the Euro may be 'strong' against a basket of currencies, traders will be trading in just one currency pair and may simply concern themselves with the Euro/US Dollar ( EUUSD) ratio. Changes in relative values of currencies may be gradual or triggered by specific events such as are unfolding at the time of writing this - the toxic debt crisis. Because the markets for currencies are global, the volumes traded every day are vast. For the large corporate investors, the great benefits of trading on Forex are:
Enormous liquidity - over $4 trillion per day, that's $4,000,000,000. This means that there's always someone ready to trade with you
Every one of the world's free currencies are traded - this means that you may trade the currency you want at any time
Twenty four - hour trading during the 5-day working week
Operations are global which mean that you can trade with any part of the world at any time
From the point of view of the smaller trader there's lots of benefits too, such as:
A rapidly-changing market - that's one which is always changing and offering the chance to make money
Very well developed mechanisms for controlling risk
Ability to go long or short - this means that you can make money either in rising or falling markets
Leverage trading - meaning that you can benefit from large-volume trading while having a relatively-low capital base
Lots of options for zero-commission trading
How the forex Market Works As forex is all about foreign exchange, all transactions are made up from a currency pair - say, for instance, the Euro and the US Dollar. The basic tool for trading forex is the exchange rate which is expressed as a ratio between the values of the two currencies such as EUUSD = 1.4086. This value, which is referred to as the 'forex rate' means that, at that particular time, one Euro would be worth 1.4086 US Dollars. This ratio is always expressed to 4 decimal places which means that you could see a forex rate of EUUSD = 1.4086 or EUUSD = 1.4087 but never EUUSD = 1.40865. The rightmost digit of this ratio is referred to as a 'pip'. So, a change from EUUSD = 1.4086 to EUUSD = 1.4088 would be referred to as a change of 2 pips. One pip, therefore is the smallest unit of trade. With the forex rate at EUUSD = 1.4086, an investor purchasing 1000 Euros using dollars would pay $1,408.60. If the forex rate then changed to EUUSD = 1.5020, the investor could sell their 1000 Euros for $1,502.00 and bank the $93.40 as profit. If this doesn't seem to be large amount to you, you have to put the sum into context. With a rising or falling market, the forex rate does not simply change in a uniform way but oscillates and profits can be taken many times per day as a rate oscillates around a trend. When you're expecting the value EUUSD to fall, you might trade the other way by selling Euros for dollars and buying then back when the forex rate has changed to your advantage. Is forex Risky? When you trade on forex as in any form of currency trading, you're in the business of currency speculation and it is just that - speculation. This means that there is some risk involved in forex currency trading as in any business but you might and should, take steps to minimise this. You can always set a limit to the downside of any trade, that means to define the maximum loss that you are prepared to accept if the market goes against you - and it will on occasions. The best insurance against losing your shirt on the forex market is to set out to understand what you're doing totally. Search the internet for a good forex trading tutorial and study it in detail- a bit of good forex education can go a long way!. When there's bits you don't understand, look for a good forex trading forum and ask lots and lots of questions. Many of the people who habitually answer your queries on this will have a good forex trading blog and this will probably not only give you answers to your questions but also provide lots of links to good sites. Be vigilant, however, watch out for forex trading scams. Don't be too quick to part with your money and investigate anything very well before you shell out any hard-earned! The forex Trading Systems While you may be right in being cautious about any forex trading system that's advertised, there are some good ones around. Most of them either utilise forex charts and by means of these, identify forex trading signals which tell the trader when to buy or sell. These signals will be made up of a particular change in a forex rate or a trend and these will have been devised by a forex trader who has studied long-term trends in the market so as to identify valid signals when they occur. Many of the systems will use forex trading software which identifies such signals from data inputs which are gathered automatically from market information sources. Some utilise automated forex trading software which can trigger trades automatically when the signals tell it to do so. If these sound too good to be true to you, look around for online forex trading systems which will allow you undertake some dummy trading to test them out. by doing this you can get some forex trading training by giving them a spin before you put real money on the table. How Much do you Need to Start off with? This is a bit of a 'How long is a piece of string?' question but there are ways for to be beginner to dip a toe into the water without needing a fortune to start with. The minimum trading size for most trades on forex is usually 100,000 units of any currency and this volume is referred to as a standard "lot". However, there are many firms which offer the facility to purchase in dramatically-smaller lots than this and a bit of internet searching will soon locate these. There's many adverts quoting only a couple of hundred dollars to get going! You will often see the term acciones trading forex and this is just a general term which covers the small guy trading forex. Small-scale trading facilities such as these are often called as forex mini trading. Where do You Start? The single most obvious answer is of course - on the internet! Online forex trading gives you direct access to the forex market and there's lots and lots of companies out there who are in business just to deal with you online. Be vigilant, do spend the time to get some good forex trading education, again this can be provided online and set up your dummy account to trade before you attempt to go live. If you take care and take your time, there's no reason why you shouldn't be successful in forex trading so, have patience and stick at it!
Bar-centric Mandarin words and phrases? - Advice for a cocktail slinger in Asia
Made the move around a year ago to South East Asia in search of greener and more sunlit pastures in the bar scene. Have stuck to venues with a pretty international/touristic clientele up until about a week ago. In what seems more and more an overly optimistic (mezcal fuelled) decision, I now stir up trouble at a bar where the ratio of native Mandarin to English speakers averages about 25:1. 1 being me. My saving grace so far has been my GM and an alcoholic, Forex trading, regular named Jack (but pronounces it Jake), who collectively know enough English to comfortably get through a Doctor Seuss book. I'm slowly catching on to the basics, and try to get up early enough every morning to go to a small food court down the road to practice with a local rice cake maker. Thing is, it's just not sinking in fast enough, and I hate being that guy that needs to be 'saved' during a rush, or banished to the prep station. I'm taking a huge stab in the dark that somebody on here has a link to 'Chinese catchphrases for service industry dummies' book or something like it. Also, if any of you have figured out reliable ways to wean their elder, male Chinese clients off the regular orders of Johnny Walker, Martell, and industrial beer, I'd love to hear it! Xoxo TLDR: People who order drinks from me are all Mandarin speakers. I am not. Looking for quick guides to not look like an idiot. Thanks!
A list of books I've read, plan on reading, or reading now.
Here is my list of books I've been planning on posting for a while now. I've read a good amount of these books but I still have a bunch to go. How did I find these books? I searched the fuck out of amazon for things that I would find useful that had good reviews, ratings, and a summary/description that matched what I was looking for. I don't have the time to write or copy/paste a summary of each book so added the amazon link to each one if you want to know more about it. The last list of miscellaneous books doesn't directly deal with forex trading but rather economics and shit in general. I added them to the list because I figured they would interest some of you. If there are any books I should add to this list, comment below. Beginners: These are some of the first Forex books i've read. They're on par with babypips but a little more in depth. Each book explains all the same basic concepts but in their own unique way. I don't know about you guys but I prefer to learn things from different people and sources so I'm exposed to new ways of thinking. If you have been trading for a while, just scroll past these few books, they're meant for complete beginners.
Forex Trading: The Basics Explained in Simple Terms, Jim Brown - Link
Technical Analysis: Below is every book you will ever need for technical analysis. They are in no particular order but I strongly advise you to start with the first book by Steve Nison. Of course, just reading these books won't make you a master at TA. You need to apply and practice the concepts as you go. Reading the info is just scratching the surface.
Japanese Candlestick Charting Techniques, Steve Nison - Link
Candlestick Charting For Dummies, Russell Rhoads - Link
Charting and Technical Analysis, Fred McAllen - Link
Getting Started in Chart Patterns, Thomas N. Bulkowski - Link
Technical Analysis For Dummies, Barbara Rockefeller - Link
The Art and Science of Technical Analysis, Adam Grimes - Link
Technical Analysis of the Financial Markets, John J. Murphy - Link
Fundamental Analysis: Fundamental analysis is the study of the underlying fundamentals that move a security, in this case, currency. The fundamentals in forex are all about economics, obviously. Therefore, a majority of the books in this list deal with economics. If you feel comfortable with economics, skip to the economic indicators towards the bottom. I also included a book called Naked Money which deals mainly with our financial system and money.
Complete Beginner's Guide to Forex Trading - YouTube
Part 2 of this Forex trading tutorial covers why you should trade Forex. If you are new to Forex trading and want to learn the basics, this tutorial series i... Welcome to the 3rd video in my beginners guide to Forex trading. So far, I have covered what Forex trading is and why you should trade Forex. In this video, ... Be sure to SUBSCRIBE!!! •$297 Forex Course 👇 https://www.fx-accelerator.com/fxfunnel •JOIN OUR 7-DAY FREE GROUP CHAT: https://www.fx-accelerator.com/master..... Want to learn forex trading? Don't know where to start? You've seen too many "gurus" out there preaching a million ways to do it? Don't worry... In this vide... A beginner guide to forex trading and the forex trading basics. What is forex and a beginner guide to forex trading. Who trades forex and how you can get sta... This is the first video in The Beginners Guide to Forex trading. This Forex trading series is great for new traders and beginners. Part 1 of this Forex trading ...