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Changes for page Forex

Last modified by Drunk Monkey on 2022-12-23 09:28
From version 2.6
edited by Drunk Monkey
on 2020-04-11 21:11
Change comment: There is no comment for this version
To version 13.1
edited by Drunk Monkey
on 2020-11-13 06:12
Change comment: There is no comment for this version

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1 +== Education ==
2 +
3 +=== The Basics ===
4 +
5 +1. [[babypips.com>>https://www.babypips.com/]] [[School of Pipsology>>https://www.babypips.com/learn/forex]]
6 +\\Start here for the basic education explaining all the basics of Forex trading.  [[It's recommended to start with>>https://nononsenseforex.com/forex-q-and-a-podcast/best-place-to-learn-forex-trading-askvp-1/]] Learn Preschool, Kindergarten, Undergraduate to Senior.  The rest may not be necessary depending on your desired style of trading - Indicators, or Price Action?
7 +1. [[nononsenseforex.com>>https://nononsenseforex.com/]] - provides an education on how to trade using
8 +1*. proper money management
9 +1*. trade psychology
10 +1*. technical analysis
11 +1. the inner circle trader
12 +
1 1  == Risk Management - Pip values and Lot Sizing ==
2 2  
3 -sdfsdf
15 +<to be added>
4 4  
5 5  == Reference Links ==
6 6  
19 +* [[Google spreadsheet>>https://docs.google.com/spreadsheets/d/1m_xJOoNJLBYBzZ2h4IuTGRVBD-GD3BeTk5CQeKfQtkw/edit?usp=sharing]] for calculating lot size based on SL pips
20 +\\One problem with many of the risk calculators is that it assumes you know want to know how many pips to set your on your trade.  However, if you're following signals, then the trader has already given you the SL and you want to want to work backwards to figure out what your lot sizes should be.
21 +\\Copy this spreadsheet to your own google drive account and fill in the entries.  Do not use it for Oil or Gold as forex.com/canada uses different contract sizes
22 +\\It's still a work in progress, but is useful for pure forex pairs
23 +
7 7  * [[BabyPips Position Size Calculator>>https://www.babypips.com/tools/position-size-calculator]]
8 -\\**Pros**:
25 +\\//**Pros**//:
9 9  It is simple to use.  If you wish to do the calculations for other trades, the information remains so you can change only what you need to change.  It also shows the results in the following standard sizes used by the brokers; units, lots, mini lots, micro lots.
10 -\\**Con**:
27 +\\//**Con**//:
11 11  You need to put in the exchange rate between your account currency and the base currency if the two are not the same.
12 12  
13 13  * [[Investing.com Currency Converter>>https://www.investing.com/currency-converter/]] 
... ... @@ -14,9 +14,49 @@
14 14  \\Often needed when you are calculating risk for Forex pairs not in your base currency.  Near real time rates.  Also includes the various digital currencies.
15 15  
16 16  * [[Investing.com Forex Pip Calculator>>https://www.investing.com/tools/forex-pip-calculator]]
17 -\\Contains data for most, but not all, currency pairs.  Shows the results in a table so you can quickly see the relationship between the Forex pair and the pip value in your account currency.
18 -\\I recommend that you put in 100,000 for the units as that is a standard "lot" size and then scale it from there. 
34 +\\Contains data for many, but not all, currency pairs.  Shows the results in a table so you can quickly see the relationship between the Forex pair and the pip value in your account currency.
35 +\\I recommend that you put in 100,000 for the units as that is a standard "lot" size and then scale it from there.
36 +
37 +* [[Forextime.com Profit Calculator>>https://www.forextime.com/trading-tools/trading-calculator/profit-calculator]]
38 +\\Quickly check the potential profit/loss of a trade.  Only supports 3 deposit currencies so if your deposit currency is different, you'll need to do an exchange rate calculation to your currency.
39 +
40 +* [[Calculating risk, the video way>>https://www.youtube.com/watch?v=4e0Nlt0zJvw&t=3s]]
41 +\\Forexed runs a free signals telegram channel.  He's actually been pretty good so far.  His video describes how he calculates risk.  Easy to follow.
42 +
43 +* [[Calculating pip values, the long wordy way>>https://www.thebalance.com/calculating-pip-value-in-forex-pairs-1031022]]
44 +\\It's correct, but I had to re-read it several times to understand what they were actually saying and turn it into an actual formula.
45 +
46 +*
19 19  
48 +== Unclassified ==
20 20  
21 -
50 +Abbreviations you might find helpful 
51 +PDH - Previous day high
52 +PDL - Previous Day Low
53 +PWH - Previous Week High
54 +PWL - Previous Week Low
55 +BMS- Break in Market Structure 
56 +SMS- Shift in Market Structure 
57 +RTO- Return to Order Block/Origin
58 +OB- Order Block
59 +OTE- Optimum trade Entry
60 +IPDA - Interbank Price Delivery Algorithm 
61 +FVG -Fair Value Gap
62 +SMT- Smart Money Tool
63 +LP- Liquidity Pool
64 +IOF-Institutional Order Flow
65 +BISI - Buy Side Imbalance Sell side Inefficient
66 +SIBI- Sell Side Imbalance Buy Side Inefficient 
67 +COT- Commitment of Traders
68 +AMD- Accumulation,Manipulation & Distribution
69 +SH - stop hunt 
70 +RTBr- return to breaker block
71 +RTBm - return to mitigation block
72 +BuIOF- bullish IOF
73 +BeIOF- bearish IOF
74 + IOF- Institutional Order Flow
75 +OBr. -Breaker block
76 +OBm. -Mitigation block
77 +LSwH- last swing high 
78 +LSwL- last swing low
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