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This is a discussion on Something to read within the Forex Trading forums, part of the Trading Forum category; • Siri’s creators say they’ve made something better that will take care of everything for you ( The Switch ) ...

      
   
  1. #351
    Senior Member ArticleMan's Avatar
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    10 Weekend Reads: Robo-Advisor, Newest Major Religion, The Fiduciary Journey, and more

    Something to read-padding.jpg


    • Siri’s creators say they’ve made something better that will take care of everything for you (The Switch)
    • The Fiduciary Journey: Retirement advice will never be the same (Investment News)
    • Robo-Advisor Movement Is Dying As Growth Rates Crash (Kitces)
    • Why is simpler better? Ockham’s Razor says that simplicity is a scientific virtue, but justifying this philosophically is strangely elusive (Aeon)
    • This Bar-Brawling Lawyer Might Just Take Down Led Zeppelin (Bloomberg Businessweek)
    • Study Urges CDC to Revise Count of Deaths from Medical Error (ProPublica)
    • The World’s Newest Major Religion: No Religion (National Geographic)
    • Jared Kushner’s Trump Card (Businessweek)
    • Dyson Wants to Create a Hair Dryer Revolution (NY Times Mag)
    • Metro sank into crisis despite decades of warnings (Washington Post)

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  2. #352
    Senior Member ArticleMan's Avatar
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    Renko (from Achelis - Technical Analysis from A to Z)

    Renko (extraction from Achelis - Technical Analysis from A to Z)
    ============

    Overview

    The Renko charting method is thought to have acquired its name from "renga" which is the Japanese word for bricks. Renko charts are similar to Three Line Break charts except that in a Renko chart, a line (or "brick" as they're called) is drawn in the direction of the prior move only if prices move by a minimum amount (i.e., the box size). The bricks are always equal in size. For example, in a 5-unit Renko chart, a 20-point rally is displayed as four, 5-unit tall Renko bricks.

    Kagi charts were first brought to the United States by Steven Nison when he published the book, Beyond Candlesticks.

    Something to read-eurusd-d1-metaquotes-software-corp-renko.png


    Interpretation

    Basic trend reversals are signaled with the emergence of a new white or black brick. A new white brick indicates the beginning of a new up-trend. A new black brick indicates the beginning of a new down-trend. Since the Renko chart is a trend following technique, there are times when Renko charts produce whipsaws, giving signals near the end of short-lived trends. However, the expectation with a trend following technique is that it allows you to ride the major portion of significant trends.
    Since a Renko chart isolates the underlying price trend by filtering out the minor price changes, Renko charts can also be very helpful when determining support and resistance levels.

    Calculation

    Renko charts are always based on closing prices. You specify a "box size" which determines the minimum price change to display.
    To draw Renko bricks, today's close is compared with the high and low of the previous brick (white or black):

    • If the closing price rises above the top of the previous brick by at least the box size, one or more white bricks are drawn in new columns. The height of the bricks is always equal to the box size.
    • If the closing price falls below the bottom of the previous brick by at least the box size, one or more black bricks are drawn in new columns. Again, the height of the bricks is always equal to the box size.

    If prices move more than the box size, but not enough to create two bricks, only one brick is drawn. For example, in a two-unit Renko chart, if the prices move from 100 to 103, only one white brick is drawn from 100 to 102. The rest of the move, from 102 to 103, is not shown on the Renko chart.

    ---------

    Renko - indicator for MetaTrader 5 (mql5 CodeBase)

    Renko
    - RenkoLiveChart_v1 600+ is here. This version works with Metatrader 4 build 600 and above.
    - Renko-SignalAM 600+ indicator is on this post. This version works with Metatrader 4 build 600 and above.

    RenkoLiveChart_v1.2 600+ indicator is on this post. This is the the updated RenkoLiveChart indicator which works without the external dlls and uses the last MT4 advantages. Also you can see that the current bar looks like in the TradeStation platform. And now you can set the start date for the chart. This version works with Metatrader 4 build 600 and above. (premium section link)

    StepChartLive_v1.0 600+ indicator is on this post. This is advanced indicator can produce the live chart from any timeframe and allows to build the No-Gap chart (ShowNoGapChart=true) and the Renko style chart with gaps (ShowNoGapChart=false). This version works with Metatrader 4 build 600 and above. (premium section link)
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  3. #353
    Senior Member PhotoNews's Avatar
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    All this technology is making us antisocial

    All this technology is making us antisocial

    Something to read-all-technology-making-us-antisocial.jpg
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  4. #354
    Senior Member ArticleMan's Avatar
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    The New Science of Technical Analysis by Thomas R. Demark

    The New Science of Technical Analysis
    by Thomas R. Demark

    Something to read-demark.jpg


    From the Foreword by John J. Murphy "DeMark's work as a consultant has been restricted to large institutions and many of the legendary traders in the world today. By sharing his creative ideas with us, as well as his passion for precision and improvement, Tom DeMark's emphasis on the 'new science' of technical analysis helps push the technical frontier another step forward. With the unprecedented attention now being paid to technical analysis, this new book couldn't have come at a better time."
    -John J. Murphy, bestselling author of Technical Analysis of the Futures Markets and Intermarket Technical Analysis, and technical analyst for CNBC

    "This book is filled with innovative, creative, and clever new ideas on technical analysis. Tom DeMark has done a wonderful job of turning subjective techniques into objective strategies and tactics."
    - Courtney Smith President and CIO Pinnacle Capital Management, Inc.

    "Those who know him and his work call him the consummate technician--a trading system developer without peer."
    - Futures magazine

    "DeMark is the ultimate indicator and systems guy. No one touches him. I know the Holy Grail of trading systems doesn't exist because if it did, Tom would have found it by now."
    - James Bianco Director of Arbor Trading

    "Tom DeMark is a genuine leader who has been behind-the-scenes until now. Publishing DeMark is a coup."
    - Ralph Vince author of The Mathematics of Money Management
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  5. #355
    Senior Member ArticleMan's Avatar
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    Friday Reads

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    • Pundit or Professional? (Charlie Bilello)
    • Reconnecting Cuba: For international companies, the last Communist country in the Americas is a compelling market — if they have the right approach (strategy+business)
    • Why people collect art (Aeon)
    • Inside Facebook’s (Totally Insane, Unintentionally Gigantic, Hyperpartisan) Political-Media Machine (NYT)
    • ‘Star Trek’ at 50: From Problem Child to Pop-Culture Perennial (WSJ)


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  6. #356
    Administrator newdigital's Avatar
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    Multi Instrument Indicator for MetaTrader 4

    Multi Instrument Indicator for MetaTrader 4

    This is very interesting indicator: we can add the price of one or several other instruments to one window.

    This is USDCHF price on the EURUSD chart:

    Something to read-eurusd-h4-alpari-limited.png


    This is the Dollar Index price on USDCAD chart:

    Something to read-usdcad-h4-alpari-limited.png


    This is the Dollar Index price on EURUSD chart:

    Something to read-eurusd-d1-alpari-limited-dollar_index.png
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  7. #357
    Senior Member FXstreet's Avatar
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    GDP: A Brief But Affectionate History

    GDP: A Brief But Affectionate History
    by Diane Coyle

    Something to read-gdp1.png


    GDP is one economic model among several that could serve the purpose, but its use conveniently leads to policies that reflect the thinking of a particular school of economic monetary and fiscal policy advocates.

    We all know that in operating a business we need to be able to measure the profits of our company and then adjust our prices and production to make sure that there are enough profits to adequately fund the company. That is a relatively straightforward process, since the amount of money in the bank at the end of the month is a real number.

    Something to read-gdp2.png



    GDP: A Brief But Affectionate History is a fascinating 140-page book that I cannot recommend highly enough. This is simply the best book on GDP that I’ve ever seen. You can read it on a few hours’ plane ride or a lazy Sunday afternoon. And Ms. Coyle actually makes a relatively dry subject interesting and at times a page-turner. She has a true gift.

    Ms. Coyle starts with the predecessors to Adam Smith and takes us through the 17th century right up until today with the development of GDP, so we see the ebb and flow of ideas through time. Who knew the early developers of the model did not want to include defense spending, as they saw it as a wasteful, nonproductive activity? Or that Adam Smith thought the inclusion of services in the concept was misleading. “The provision of more services was a cost to the national economy, in his view. A servant was a cost to his employer, and did not create anything. Importantly, money spent on warfare or the interest on government debt was also being used unproductively. The nation’s wealth was its stock of physical assets less the national debt. National income was what derived from the national wealth.”

    Will the Real GDP Please Stand Up?

    GDP is a huge undertaking, full of rules, with almost as many exceptions to the rules, changes, fixes, and qualifications, so that, as one Amazon reviewer noted, GDP is in reality so complex there are only a handful of people in the world who fully understand it, and that does not include the commentators and politicians who pontificate about it almost daily. The quarterly release of GDP statistics is more akin to a religious service than anything resembling a scientific study. The awe and breathlessness with which the number is discussed is somewhat amusing to those who understand the sausage-making process that goes into producing the number. Whether the GDP reading is positive or negative, it often changes less in a given quarter than the margin of error in the figure itself, and it can be and generally is revised significantly – often many years later when almost no one is paying attention.

    GDP Is a Political Construction

    GDP has always been a political construction, subject to the ebb and flow of the intellectual and political climate, the need to raise taxes, and the military needs of the day. It is also a tool used to argue for or against income inequality (depending on what country you’re in).

    GDP is a financial construct at its heart, a political and philosophical abstraction. It is a necessary part of the management of the country, because, as with any enterprise, if you can’t measure it you can’t determine if what you are doing is productive. That said, the act of measuring GDP precipitates the observer effect writ large.
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  8. #358
    Senior Member 1Finance's Avatar
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    High Profit Candlestick Patterns : Stephen Bigalow

    High Profit Candlestick Patterns : Stephen Bigalow

    Something to read-high_profit_candlestick_patterns.jpg


    High profit trading patterns, revealed by utilizing time-honored Japanese candlestick signals. A straight-forward approach to understanding and exploiting market opportunities. Practical applications to predict stock price movements consistently and profitably, a winning system in good times or bad! All detailed in: "High Profit Candlestick Patterns: Turning Investor Sentiment into Profits" By Stephen W. Bigalow

    Don’t play the market, Beat the Market! Stephen W. Bigalow’s first book "Profitable Candlestick Trading" taught the novice investor how to quickly identify the best trading opportunities. Now his new book, "High Profit Candlestick Patterns" takes his teaching to the next level. Combining the proven results of Japanese Candlestick charting with effective Western technical analysis, produces even higher profit wealth-building stock selection techniques. Learn the key to profitable stock selection with this safer approach to investing and avoid expensive trading mistakes. Quickly learn the simplest, yet most intelligent, approach to stock selection. Candlestick signals visually produce compelling results. Japanese candlestick charting techniques, integrated with statistically proven Western technical analysis, produces an even more powerful investment platform. The ability to recognize trading patterns in their very early stages empowers an investor with high profit trading strategies.

    For the technical investor, the combined analysis provides potent trading programs. The fundamental investor gains tremendous insights into the timing of positions. The introduction of cutting-edge computer generated technical analysis, with the world's most proven trading technique, becomes a powerful tool for understanding the movements of the markets. Discover simple techniques that put the probabilities highly in your favor.

    Japanese candlestick signals provide an immense amount of information. They graphically depict what is occurring in investor sentiment. This alone provides a huge advantage for the investor. Having the ability to identify reversals in price trends, utilizing statistically proven and utilized signals, allows an investor to develop high profit trading strategies. The psychological elements not only reveal trend reversals, but they provide the insights for understanding why that reversal is occurring. This becomes a very powerful investment tool.

    The graphic illustrations in this book are simple common sense revelations. Utilizing candlestick signals in conjunction with Western technical patterns produces two strong investment elements. First, it allows for the recognition of the optimal times for entering a trade. Second, the candlestick signals revealed immediately when the trend pattern is not performing correctly, allowing for quick exits.

    You will receive a whole new perspective for profitably investing in the markets. You do not have to learn formulas nor develop investing talents. The combination of candlestick signals with easy-to-identify trading patterns will vastly expand your investment confidence. The self-mastery of profitable investing is greatly simplified with quick visual evaluations.
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  9. #359
    Junior Member Lackl's Avatar
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    The Fallacy of Using SL/TP as Proxy Risk-Reward

    The Fallacy of Using SL/TP as Proxy Risk-Reward

    Forex trading forums are full of well meaning, yet rather misguided advice about risk-reward setups and how to set your stop losses. Unfortunately, many of these people fail to understand the true meaning of risk or reward.

    The idea that simply setting your stop loss smaller than your take profits will achieve a certain risk reward is complete nonsense.

    How to Place Stop Losses and Take Profits Using a Maximal Strategy
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    enjoy every day of your life

  10. #360
    Senior Member matfx's Avatar
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    Trump: The Art of the Deal

    Trump: The Art of the Deal by Donald J. Trump (Author), Tony Schwartz (Author)

    Something to read-51-b8cqhz8l._sx322_bo1-204-203-200_.jpg

    "Trump, who believes that excess can be a virtue, is as American as Manhattan's skyline," wrote George Will in the 1980's. Regardless of whether you think Donald Trump as a symbol of American success, or you think he's an annoying, chest-pounding egomaniac with bad hair, this book will show you what it took for him to build up his empire. The book shows Trump doing what he does best -- boldly making big deals -- during the "greed is good" decade of the 1980's. I found it interesting to see how much of his current empire he had built up before his 40th birthday, and to understand how he pulled off various deals.

    The majority of the book is a swashbuckling, detailed history of his biggest projects. He talks about all the details, from negotiating with landholders, arguing about zoning with city officials, lining up contractors, interviewing architects, dealing with partners in various projects, negotiating with banks to line up financing, and the like.

    Trump also devotes a couple chapters to his background. He was the son of a successful developer of rent-controlled & low-income housing in Queens and Brooklyn, NY. He was a mischievous, aggressive kid (he once punched a teacher), and was sent military school during his high-school years. He started college at Fordham in the Bronx, NY, to be close to home, but then then transferred to the Wharton Business School (at the University of Pennsylvania) because he liked its entrepreneurial emphasis. Shortly after college, he worked with his father to buy a troubled apartment complex in Cincinnati, which he fixed it up and sold for a multi-million dollar profit. Hungry for bigger things, he moved to a small studio apartment in Manhattan, and progressed from small deals to bigger ones, from renovating a hotel, to building Trump tower, to building and buying casinos in Atlantic city, along with a many other projects.

    Besides the stories of his deal-making, Trump gives some tips for aspiring moguls. Although he believes you need a certain innate instinct for negotiating well, he thinks there are some tips everyone can use. For example: when planning deals, one should think big, always have a plan B, keep your options open, and use your advantages as leverage in negotiations. When executing a deal, one must deliver results, control costs, and fight competitors when necessary. Also, promotion of your project is important to get the word out. And finally, of course, Trump says one has to have fun doing all this -- if it's not fun, why do it?

    Overall, the book was an OK read, and it moved quickly (I read it in about a day). Some reviewers were put off by Trump's bravado (but give me a break -- it's Donald Trump!! what did you expect?). If you can get past the bluster, you can see what it took to assemble his empire. I was inspired to re-read the book because of the success of Trump's new TV show, "The Apprentice," and I don't regret the day or so it took to re-read -- it's light reading & moves very quickly. If you'd like a quick refresher on Trump's rise, as I did, then this book (and some say the best book) should be on your reading list.

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