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Changes for page Forex

Last modified by Drunk Monkey on 2022-12-23 09:28
From version 4.2
edited by Drunk Monkey
on 2020-04-11 21:51
Change comment: There is no comment for this version
To version 14.1
edited by Drunk Monkey
on 2020-11-13 06:18
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  
7 -
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 +
8 8  * [[BabyPips Position Size Calculator>>https://www.babypips.com/tools/position-size-calculator]]
9 9  \\//**Pros**//:
10 10  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.
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21 21  * [[Forextime.com Profit Calculator>>https://www.forextime.com/trading-tools/trading-calculator/profit-calculator]]
22 22  \\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.
23 23  
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 +
24 24  * [[Calculating pip values, the long wordy way>>https://www.thebalance.com/calculating-pip-value-in-forex-pairs-1031022]]
25 25  \\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.
26 26  
27 27  *
28 28  
48 +== Unclassified ==
29 29  
30 -
50 +=== Abbreviations ===
51 +
52 +>Abbreviations you might find helpful 
53 +>##PDH  - Previous day high##
54 +>PDL  - Previous Day Low
55 +>PWH  - Previous Week High
56 +>PWL  - Previous Week Low
57 +>BMS  - Break in Market Structure 
58 +>SMS  - Shift in Market Structure 
59 +>RTO  - Return to Order Block/Origin
60 +>OB  - Order Block
61 +>OTE  - Optimum trade Entry
62 +>IPDA  - Interbank Price Delivery Algorithm 
63 +>FVG  - Fair Value Gap
64 +>SMT  - Smart Money Tool
65 +>LP  - Liquidity Pool
66 +>IOF  - Institutional Order Flow
67 +>BISI  - Buy Side Imbalance Sell side Inefficient
68 +>SIBI  - Sell Side Imbalance Buy Side Inefficient 
69 +>COT  - Commitment of Traders
70 +>AMD  - Accumulation,Manipulation & Distribution
71 +>SH  - stop hunt 
72 +>RTBr  - return to breaker block
73 +>RTBm  - return to mitigation block
74 +>BuIOF - bullish IOF
75 +>BeIOF - bearish IOF
76 +>IOF  - Institutional Order Flow
77 +>OBr.  - Breaker block
78 +>OBm.  - Mitigation block
79 +>LSwH  - last swing high 
80 +>LSwL  - last swing low
81 +
82 +=== fibb settings for OTE areas of interest ===
83 +
84 +FIBBS setting (mt4)
85 +
86 +>## Levels Description##
87 +> 0 First Profit - Scaling
88 +> 0.50 50% Equilibrium
89 +> 0.618 %$-62%
90 +> 0.705 %$-OTE
91 +> 0.79 %$-79%
92 +> 1 100.0
93 +>-0.62 Target 2
94 +>-0.27 Target 1
95 +>-1 Symmetrical Swing