Do It Yourself FOREX Trading Course FREE - Business (5) - Nairaland
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China Importation Training Course-free Info Inside! / HELP! !!how Can I Invest With My Liberty Reserve Cash Apart From Forex Trading? / !!b!!!!!!!bbbb!!!!!!!bbb (2) (3) (4)
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| Re: Do It Yourself FOREX Trading Course FREE by Hardetutu01(m): 9:23pm On Jan 28, 2013 |
Mr,pls ma question is this:Is Liteforex a gud nd reliable broker to trade with? I'll be glad 2 receive ur reply. |
| Re: Do It Yourself FOREX Trading Course FREE by surveycash(m): 9:49pm On Jan 28, 2013 |
Hardetutu01: Mr,pls ma question is this:Is Liteforex a gud nd reliable broker to trade with? Yes, if you play by their terms and conditions. |
| Re: Do It Yourself FOREX Trading Course FREE by surveycash(m): 10:24am On Jan 29, 2013 |
If you have questions regarding any of the lessons, please feel free so we can proceed.. |
| Re: Do It Yourself FOREX Trading Course FREE by cashkid: 10:44am On Jan 29, 2013 |
surveycash: If you have questions regarding any of the lessons, please feel free so we can proceed..let us move prof,we are following u sir |
| Re: Do It Yourself FOREX Trading Course FREE by blackknight: 11:13am On Jan 29, 2013 |
So far so good sir, we're ready for lectures whenever you are |
| Re: Do It Yourself FOREX Trading Course FREE by rozayx5(m): 3:59pm On Jan 29, 2013 |
BelloSKK: Dont mind them, their claiming pros, but they are running around trading demo accounts, and deceiving themselves, FX is no respecter of titles, if some one is not ready to pull up his sleeves and do something , then FX is not for him/her. So far so good, survey cash is doing a good job  more grease to your elbow, and try and keep it simple for them  if you need my help, am always in the Lab 2 Likes |
| Re: Do It Yourself FOREX Trading Course FREE by surveycash(m): 6:30pm On Jan 29, 2013 |
rozayx5: Ok sir...I still have my lab coat and wouldn't mind wearing it again to join you there.. |
| Re: Do It Yourself FOREX Trading Course FREE by sympathy55(m): 8:08pm On Jan 29, 2013 |
rozayx5:I 2RUST YOU |
| Re: Do It Yourself FOREX Trading Course FREE by surveycash(m): 9:05pm On Jan 29, 2013 |
***Profile updated*** |
| Re: Do It Yourself FOREX Trading Course FREE by Tonjeola1(m): 9:11am On Feb 01, 2013 |
rozayx5:already following you... You and Surveycash are doing a great job, keep it flowing... |
| Re: Do It Yourself FOREX Trading Course FREE by blackknight: 10:51am On Feb 01, 2013 |
surveycash: If you have questions regarding any of the lessons, please feel free so we can proceed.. Hi Surveycash, I know you're probably busy with your own personal stuff, just to let you know that we're waiting for the next instalment of lessons. Thanks. |
| Re: Do It Yourself FOREX Trading Course FREE by BelloSKK: 11:34pm On Feb 02, 2013 |
surveycash:Sir, please I need more comprehensive details about how to read/ understand Meta Trader 4 (figures, charts, etc.). |
| Re: Do It Yourself FOREX Trading Course FREE by surveycash(m): 7:36am On Feb 03, 2013 |
blackknight: Really busy on some offline biz. I never knew this will be time-consuming. Next lessons on the way. Sorry for the break. BelloSKK: Ok. We'll treat that in details.. |
| Re: Do It Yourself FOREX Trading Course FREE by surveycash(m): 8:02am On Feb 03, 2013 |
Lesson 9: Analysing The Forex Market By analysis, we mean the methods and strategies used to predict or forecast the potential price movement of any currency. It is the result of our analysis that informs our decision whether to take a trade or not. Types of forex Analysis To begin, let's look at three ways on how you would analyze and develop ideas to trade the market. There are three basic types of market analysis: A. Technical Analysis B. Fundamental Analysis C. Sentiment Analysis There has always been a constant debate as to which analysis is better, but to tell you the truth, you need to know all three. It's like standing on a three-legged stool - if one of the legs is weak, the stool will break under your weight and you may fall flat on your face.  The same holds true in trading. If your analysis on any of the three types of trading is weak and you ignore it, there's a good chance that it may cause you to lose out on your trade! A. Technical Analysis (TA) Technical analysis is a technique used to forecast the future direction of prices through the study of historical market data, primarily price, volume and open interest. Technical traders use trading information (such as previous prices and trading volume) along with mathematical indicators to make their trading decisions. This information is usually displayed on a graphical chart updated in real time that is interpreted in order to determine when to buy and when to sell a specific instrument. Dow Theory The ideas of Charles Dow, the first editor of the Wall Street Journal, form the basis of modern technical analysis. They are based upon three main premises: 1.0 The price is a comprehensive reflection of all market forces. At any given time, all market information and forces are reflected in the prices. 2.0 Prices move in trends that can be identified and turned into profit opportunities. 3.0 Price movements are historically repetitive. Examples of Technical Indicators Accumulation Distribution Line - Combines price and volume to show how money may be flowing into or out of a stock. Aroon - Shows whether a stock is trending or oscillating. Average Directional Index (ADX) - Shows whether a stock is trending or oscillating. Average True Range (ATR) - Measures a stock's volatility. %B Indicator - Shows the relationship between price and standard deviation bands. Commodity Channel Index (CCI) - Shows a stock's variation from its 'typical' price. Coppock Curve - An oscillator that uses rate-of-change and a weighted moving average to measure momentum. Correlation Coefficient - Shows the degree of correlation between two securities over a given time frame. Chaikin Money Flow - Combines price and volume to show how money may be flowing into or out of a stock. Chaikin Oscillator - Combines price and volume to show how money may be flowing into or out of a stock. Detrended Price Oscillator (DPO) - A price oscillator that uses a displaced moving average to identify cycles. Ease of Movement (EMV) - An indicator that compares volume and price to identify significant moves. Force Index - A simple price-and-volume oscillator. Know Sure Thing (KST) - An indicator that measures momentum in a smooth fashion. Mass Index - An indicator that identifies reversals when the price range widens. MACD - A momentum oscillator based on the difference between two EMAs. MACD-Histogram - A momentum oscillator that shows the difference between MACD and its signal line. Money Flow Index (MFI) - A volume-weighted version of RSI that shows shifts is buying and selling pressure. Negative Volume Index (NVI) - A cumulative volume-based indicator used to identify trend reversals. On Balance Volume (OBV) - Combines price and volume in a very simple way to show how money may be flowing into or out of a stock. Percentage Price Oscillator (PPO) - A percentage-based version of the MACD indicator. Percentage Volume Oscillator - The PPO indicator applied to volume instead of price. Price Relative - Technical indicator that compares the performance of two stocks to each other by dividing their price data. Rate of Change (ROC) - Shows the speed at which a stock's price is changing. Relative Strength Index (RSI) - Shows how strongly a stock is moving in its current direction. StockCharts Technical Ranks (SCTRs) - Our relative ranking system based on a stock's technical strength. Slope - Measures the rise-over-run for a linear regression Standard Deviation (Volatility) - A statistical measure of a stock's volatility. Stochastic Oscillator - Shows how a stock's price is doing relative to past movements. Fast, Slow and Full Stochastics are explained. StochRSI - Combines Stochastics with the RSI indicator. Helps you see RSI changes more clearly. TRIX - A triple-smoothed moving average of price movements. True Strength Index (TSI) - An indicator that measures trend direction and identifies overbought/oversold levels. Ulcer Index - An indicator designed to measure market risk or volatility. Ultimate Oscillator - Combines long-term, mid-term and short-term moving averages into one number. Vortex Indicator - An indicator designed to identify the start of a new trend and define the current trend. William %R - Uses Stochastics to determine overbought and oversold levels. You don't need to know all these indicators to be a successful trader. Just 1 or 2 are enough to predict the market. Advantages of Technical Analysis It requires much less data than fundamental analysis. From price and volume, a technical trader can obtain all the information he needed. As it is focused on identifying trend reversal, the question of timing to enter a trade is easier to address with technical analysis. Drawbacks of Technical Analysis Technical analysis can become a self fulfilling prophecy. When many investors, using similar tools and following the same concepts, shift together the supply and demand, this can lead to the prices moving in the predicted direction. B. Fundamental Analysis (FA) This type of analysis involves studying the macro ecomonic indicators of a country to determine the health of the economy. Are you confused about "macro economic" indicators? Don't be. This is why we taught you Econs in secondary school. If you are the type that run away from classes, God don catch you today. Fundamental analysis in Forex entails predicting the price valuation of a currency and its market trends by analyzing current economic conditions, government policy and societal factors within a business cycle framework. Forex Traders gauge a country's economic state by examining macroeconomic indicators. Macroeconomic indicators are statistics that indicate the current status of the economy of a state depending on a particular area of the economy (industry, labor market, trade, etc.). They are published regularly at a certain time by governmental agencies and the private sector. In truth, these statistics help Forex traders monitor the economy's pulse; thus it is not surprising that these are religiously followed by almost everyone in the financial markets. After publication of these indicators we can observe volatility of the market. The degree of volatility is determined depending on the importance of an indicator. That is why it is important to understand which indicator is important and what it represents. Examples of Fundamental Indicators Interest Rates Announcement Interest rates play the most important role in moving the prices of currencies in the foreign exchange market. As the institutions that set interest rates, central banks are therefore the most influential actors. Interest rates dictate flows of investment. Since currencies are the representations of a country’s economy, differences in interest rates affect the relative worth of currencies in relation to one another. When central banks change interest rates they cause the forex market to experience movement and volatility. In the realm of Forex trading, accurate speculation of central banks’ actions can enhance the trader's chances for a successful trade. Gross Domestic Product (GDP) The GDP is the broadest measure of a country's economy, and it represents the total market value of all goods and services produced in a country during a given year. Since the GDP figure itself is often considered a lagging indicator, most traders focus on the two reports that are issued in the months before the final GDP figures: the advance report and the preliminary report. Significant revisions between these reports can cause considerable volatility. Consumer Price Index (CPI) The Consumer Price Index (CPI) is probably the most crucial indicator of inflation. It represents changes in the level of retail prices for the basic consumer basket. Inflation is tied directly to the purchasing power of a currency within its borders and affects its standing on the international markets. If the economy develops in normal conditions, the increase in CPI can lead to an increase in basic interest rates. This, in turn, leads to an increase in the attractiveness of a currency. Employment Indicators Employment indicators reflect the overall health of an economy or business cycle. In order to understand how an economy is functioning, it is important to know how many jobs are being created or destructed, what percentage of the work force is actively working, and how many new people are claiming unemployment. For inflation measurement, it is also important to monitor the speed at which wages are growing. Retail Sales The retail sales indicator is released on a monthly basis and is important to the foreign exchange trader because it shows the overall strength of consumer spending and the success of retail stores. The report is particularly useful because it is a timely indicator of broad consumer spending patterns that is adjusted for seasonal variables. It can be used to predict the performance of more important lagging indicators, and to assess the immediate direction of an economy. Balance of Payments The Balance of Payments represents the ratio between the amount of payments received from abroad and the amount of payments going abroad. In other words, it shows the total foreign trade operations, trade balance, and balance between export and import, transfer payments. If coming payment exceeds payments to other countries and international organizations the balance of payments is positive. The surplus is a favorable factor for growth of the national currency. Government Fiscal and Monetary policy Stabilization of the economy (e.g., full employment, control of inflation, and an equitable balance of payments) is one of the goals that governments attempt to achieve through manipulation of fiscal and monetary policies. Fiscal policy relates to taxes and expenditures, monetary policy to financial markets and the supply of credit, money, and other financial assets. C. Sentiment Analysis Earlier, we said that price should theoretically accurately reflect all available market information. Unfortunately for us traders, it isn't that simple. The markets do not simply reflect all the information out there because traders will all just act the same way. Of course, that isn't how things work. Each trader has his own opinion or explanation of why the market is acting the way they do. The market is just like Facebook - it's a complex network made up of individuals who want to spam our news feeds. Kidding aside, the market basically represents what all traders - you, Surveycash, Rozayfx, the corper etc - feel about the market. Each trader's thoughts and opinions, which are expressed through whatever position they take, helps form the overall sentiment of the market. The problem is that as traders, no matter how strongly you feel about a certain trade, you can't move the markets in your favor (unless you're one of the GSs - George Soros or Goldman Sachs!). Even if you truly believe that the dollar is going to go up, but everyone else is bearish on it, there's nothing much you can do about it. As a trader, you have to take all this into consideration. It's up to you to gauge how the market is feeling, whether it is bullish or bearish. Ultimately, it's also up to you to find out how you want to incorporate market sentiment into your trading strategy. If you choose to simply ignore market sentiment, that's your choice. Being able to gauge market sentiment can be an important tool in your toolbox. In summary, Forex market is predicted in three ways Technical Analysis - which is a technique used to forecast the future direction of prices through the study of historical market data, primarily price, volume and open interest. In TA, we study the charts on our MT4. Fundamental Analysis - covers the study of economic indicators, social factors and international government policies which help forex and CFD traders forecast price movements and trends. In FA, we study the NEWS Sentiment Analysis - which is the bias or feeling of traders about a particular market. Traders could be bullish or bearish biased. In SA, we use our feelings. See you in the next class where we will learn how to put all these together so as to make the money..Abi no be so? |
| Re: Do It Yourself FOREX Trading Course FREE by surveycash(m): 8:10am On Feb 03, 2013 |
We need more participants in this class. Pls invite your friends by using the RECOMMEND button at the bottom of the page. Thanks 1 Like
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| Re: Do It Yourself FOREX Trading Course FREE by presiade(m): 8:51am On Feb 03, 2013 |
@op, Great work. please, how true , profitable & reliable is the Instaforex PAMM? Thanks. |
| Re: Do It Yourself FOREX Trading Course FREE by surveycash(m): 8:59am On Feb 03, 2013 |
presiade: @op, Great work. please, how true , profitable & reliable is the Instaforex PAMM? Thanks. Profitability depends on the trader that handles the account. I don't do PAMM though.. |
| Re: Do It Yourself FOREX Trading Course FREE by wisemanj(m): 10:43pm On Feb 03, 2013 |
pls i just want to kn if it is good to use auto trading software thank u |
| Re: Do It Yourself FOREX Trading Course FREE by surveycash(m): 12:15am On Feb 04, 2013 |
wisemanj: pls i just want to kn if it is good to use auto trading software thank u No! |
| Re: Do It Yourself FOREX Trading Course FREE by wisemanj(m): 2:05pm On Feb 04, 2013 |
surveycash:thanks but why |
| Re: Do It Yourself FOREX Trading Course FREE by surveycash(m): 11:01pm On Feb 04, 2013 |
wisemanj: thanks but why It's risky to place your hard earned money on a robot...I am yet to find a profitable one in the long term. They all lose money.. |
| Re: Do It Yourself FOREX Trading Course FREE by blackknight: 9:55am On Feb 05, 2013 |
[quote author=surveycash] Really busy on some offline biz. I never knew this will be time-consuming. Next lessons on the way. Sorry for the break. I can imagine how time-consuming putting together the lectures can be, thanks for the last instalment (Lesson 9), looking forward to the next one. |
| Re: Do It Yourself FOREX Trading Course FREE by Collinsterol(m): 1:54pm On Feb 05, 2013 |
@ SURVEYCASH hmmmm..... I cant but say this is beyond just thank you to surveycash. I see this as a great privy to we young graduates aspiring to be great. And with people LIKE SURVEYCASH, life is good. Thanks and thanks alot. And to my fellow 300level forex students you can go to the library to get more materials at babypips.com. Surely we will be there some days |
| Re: Do It Yourself FOREX Trading Course FREE by surveycash(m): 5:04pm On Feb 05, 2013 |
Collinsterol: @ SURVEYCASH hmmmm..... I cant but say this is beyond just thank you to surveycash. I see this as a great privy to we young graduates aspiring to be great. And with people LIKE SURVEYCASH, life is good. Thanks and thanks alot. We are just getting started. Thanks for the kind words. That's all I need to get going. No lecturer likes a dull/quiet class. As Oga Rozayfx said, we need at least 50, 000 live traders in Nigeria. Invite your people here to join. The market can accommodate us all. |
| Re: Do It Yourself FOREX Trading Course FREE by Tonjeola1(m): 7:20pm On Feb 05, 2013 |
[b][/b] surveycash:count me in... |
| Re: Do It Yourself FOREX Trading Course FREE by rozayx5(m): 1:01pm On Feb 06, 2013 |
surveycash: he has his own seperate thread, i dont see why he is doing all this  it took sometime to change the parasite mentality on the seasonal thread, its best some one learn how to analyse the market on his own that ne dependent on signals from heaven he is spamming my research room too  |
| Re: Do It Yourself FOREX Trading Course FREE by piphacker(m): 1:20pm On Feb 06, 2013 |
wisemanj: thanks but whyIt will destroy account. no robort/EAs can predict the future movement of price. |
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