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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 7.2
edited by Drunk Monkey
on 2020-04-13 23:07
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 1  == Risk Management - Pip values and Lot Sizing ==
2 2  
3 -sdfsdf
14 +<to be added>
4 4  
5 5  == Reference Links ==
6 6  
7 -
18 +* [[Google spreadsheet>>https://docs.google.com/spreadsheets/d/1m_xJOoNJLBYBzZ2h4IuTGRVBD-GD3BeTk5CQeKfQtkw/edit?usp=sharing]] for calculating lot size based on SL pips
19 +\\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.
20 +\\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
21 +\\It's still a work in progress, but is useful for pure forex pairs
22 +
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  
39 +* [[Calculating risk, the video way>>https://www.youtube.com/watch?v=4e0Nlt0zJvw&t=3s]]
40 +\\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.
41 +
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  *
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