May 14, 2011
Hello ,i just start trading forex and i need some sources about MACD.?
By Planet Wealth
Hello ,i just start trading forex and i need some sources about MACD.,So if any one have pdf or ebook or website please let me know.
Topics: trading tips | 6 Comments »
6 Responses to “Hello ,i just start trading forex and i need some sources about MACD.?”
Comments
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May 14th, 2011 at 5:36 am
http://stockcharts.com/school/doku.php?id=chart_school:technical_indicators:moving_average_conve
here’s some info…
May 14th, 2011 at 5:36 am
It is all over the internet, for free.
No source is better than other, because there is not much to be told about an indicator.
I will suggest you to not rely very much on indicators, and more importantly, do not open/close trades when the indicator tells you. The indicator should be just a confirmation.
excellent luck
May 14th, 2011 at 5:36 am
You are on a slippery road to failure.
Are you really already trading without having a strategy? That’s very perilous. For some Technical Analysis help look to;
http://www.babypips.com/
http://www.babypips.com/school/macd.html
A strategy should use 2-3 indicators. More vital is a clear method of risk control. On average it takes 2-3 years to become profitable in any trading. Forex (because it’s harder than stocks, can take longer). Most people ruin their accounts in 3-6 months.
Read books on Forex Trading, General Trading (esp. risk control) as well as the psychology of trading. Continue reading as long as you’re doing this. You are entering one of the most hard career paths possible. You have a lot of hard work ahead with a small possibility of success.
May 14th, 2011 at 5:36 am
Hi,
Im starting to teach a few of my friends FX trading.I have been a FX trader now for small under two years.Im far from a millionare or but i don’t need to work.I trade for a few hours in the evening and make around $800-1000 per week.It’s not alot of money, but pays my rent, bills etc and i get more time enjoying my days.
I beleive you can make a nice income in the FX market.I started with $550 in my account and goal was $80 a day to make.Then went to $100 a day and so on.If your interested im putting a cd/pdf book together on ‘how to trade FX’,it’ll include basic things and an overview of the FX market.
But please don’t spend thousands and waste money on programs,they just rip you off in the end and your left with no money and empty promises.If you have $10k to spend on robots/programs, just save it, open a demo account and trade for a few months while your learning.Then when your ready,start with $1000 or less on a micro/standard account.
Anyways, take care and if your keen email me.
forexdan@optusnet.com.au
Dan
May 14th, 2011 at 5:36 am
Hey don’t listen to all the negativity from other people who have had a hard time with the Forex. Yes, it’s a very hard career. But it’s not as hard as it used to be. One thing that will help you the most is to get hooked up with some other traders who are already doing really excellent, and who are willing to share either their strategy or at least their buys and sells signals with you. There is a website which pays traders to share their signals, and so a lot of professional traders have opted to do just that, especially since it’s fully automated so they don’t even have to work any harder to share. Some 8000 traders have plugged their forex accounts into the service to broadcast what they are doing. I HIGH recommend you check it out, and learn from some of them. Not all of them are excellent. But I’d suggest you pay attention to the top 20 or so of them, because they are really, really excellent at what they do. Their signals are broadcast live, in real time, and it’s free to watch, learn, and follow. I’ll place the link below in my sources.
As for your question about the MACD, it’s all over the internet. But basically, the MACD is 2 moving averages that are set to be at different speeds. So one moves quicker than the other, thus they tend to cross over each other when the market changes direction. Though, often they cross just as much when the market is consolidating, not really changing direction, so the cross of those two lines does NOT mean the market is in fact going to go substantially in the other direction.
As for the histogram (those vertical lines at the bottom of the indicator, usually they are green colored)… that histogram is not a different indicator. It’s the same thing as the two moving averages, only it’s showing you something specific about the two moving averages. The histogram shows you how far apart the two moving averages are from each other. That’s all it’s showing you. So if the "main" moving average line is above the other, the histogram below will show some vertical bars that are going up (positive). But if the two moving average lines cross each other, and the "main" one is below the other, then the histogram below will show vertical bars pointing down. And the further apart the moving average lines get from each other, the longer the bars on the histogram will be. And the value of the histogram, usually seen on the right side of the histogram, shows the number of pips difference between each of the two moving averages. So yeah, the histogram is just showing you how far apart the two moving averages are from each other, and which one is above the other.
But again, be careful, because if the market goes way up, and then goes flat (called a consolidation), the macd will indicate a reversal EVERY TIME. When in fact, many consolidations don’t really reverse, they continue to go in direction of the trend further. Thus, because of this, the MACD is not always going to tell you the truth.
May 14th, 2011 at 5:36 am
Hi there,
You can try to look at:
http://www.forexfactory.com
http://www.babypips.com
http://www.winnersedgetrading.com
For information on MACD.