Saturday, January 31, 2009

Study indicators. Part One. Introduction

Introduction

This article was written to introduce the concept of indicators and explain how to use them in your analysis. We pour some light on the differences between advanced and lagging indicators, as well as examine their advantages and disadvantages. Many, if not the most popular indicators are as oscillators. Mindful of this, we also show how to read and oscillators to explain how to get signals. Later vetom number of indicators on, we turn our attention to certain indicators, and present examples of signals in action.
What is the indicator?

The indicator - a number of data points, which are obtained by applying a formula to price data protection. Price data includes any combination of the opening (open), the highest value (high), the lowest value (low) or the closure of close) during the period of time. Some indicators can only use the closing price in tovremya others include in their formula for the volume and open interest. Introduce the price data in a formula and calculated

. For example, the average number of 3 closing price - provides a single point of data ((4 1 +43 +43) / 3 = 42.33).

However, one data point does not daetmnogo information and does not show that makes indikator.Dlya analysis requires a number of data points over time. By creating time-series data points, the comparison can be made between present and past levels. For purposes of analysis, indicators usually show in graphic form above or below the price chart (a chart). Shown in graphic form, the indicator can be compared with the corresponding price schedule. Sometimes the indicators are built on top of price schedule for a more accurate comparison.
With the proposed indicators?

The indicator suggests a different perspective to analyze the price movement. Some, such as moving averages of values derived from simple formulas, and mechanics is relatively simple to understand. Others, like stohastikov (Stochastics), have complex formulas and require more time to study, to fully understand and appreciate. Regardless of the complexity of the formula, the indicators can provide a unique perspective in defining the strength and direction of price changes.
Simple moving average (Simple moving average) - an indicator, which calculates the average

price on the number of periods. If extremely volatile price fluctuations, the moving average value can help smooth the data. Moving average value filters out random noise and offers a smooth-term price movements. Schedule of Veritas (VRTS) displays greater volatility, and the analyst may have difficulty in determining the trend. Applying the 1 0-day simple moving average value to the price schedule, random fluctuations smoothed to facilitate the opportunity to identify the trend.

Why use LEDs?
Indicators serve three broad functions: prevention, validation and prediction.
LED can act as a warning to examine the price movement of a little more closely. If momentum (driving force) is reduced, it could be a signal that can be expected to break through support. Or, if formed a more positive divergence (the difference), it can serve as a warning to watch for a sharp break through the resistance. LEDs can be used to confirm other technical analysis tools. If there is a drastic change in the price of the price chart, the intersection of the moving average values could serve as evidence of this breakthrough. Or, if the market punch line support, the corresponding indicator on the graph Low On-Balance-Volume (OBV), it could serve as a proof of the weakness of the market. Some investors and traders use indicators to predict the direction of future changes in prices.

Tips for using indicators.

Indicators show. This may sound too categorical, but sometimes traders ignored the change in the price and focus on the display. Indicators filtered price movement formulas. Also, they - and not derived directly reflect the price action. This should be taken into account when applying the analysis. Any analysis of the indicator should be taken, mindful of izmeneniitseny. As the indicator shows the change in prices? Price movement is becoming more powerful? Weaker?

Even though the situation may be obvious, sometimes indicators to generate signals for buying and selling, the signals must be taken in context with other technical analysis tools. The indicator may signal the purchase, but if the chart shows a downward triangle with a number of declining peaks, it could be a false alarm.

Figure Inktomi (INKT), MACD grew from April to August and formed a positive divergence in August. MACD signaled the possibility of buying, but the market was unable to overcome the resistance level and reach the previous peak. This is not confirmation of the market was a sign warning against long positions. For the record, the signal for the sale took place when the market prorval line support decreasing the triangle at the beginning of October 00.

As always in the technical analysis, the ability to read the indicators more art than science. The same indicator may show different behavioral models that are applicable to different actions. LEDs, which work well for IBM, c could not work for the airlines Delta. Expertise with the various indicators can be done through careful study and analysis.

Today, using hundreds of indicators, new indicators under construction each week. Technical analysis programs come with sets of indicators, which vstraivayut, and even allow users to create their own display. Given the number of fraud, which is associated with indicators, choosing an indicator that you will follow, the challenge of his ukroscheniya. Even with the introduction of hundreds novyhindikatorov, only a few offer an excellent prospect and worthy of attention. Strangely enough, but the indicators, which generally deserve more attention - those who have passed the test of time.

When choosing an indicator to analyze, select it carefully and sparingly. Attempts to reach more than five indicators is usually futile. Better to concentrate on two or three indicators, and to study their effect. Try to select indicators, which complement each other, rather than those that operate in unison, and generates the same signals. For example, it would be redundant to use two indicators, which are good to show perekuplennye and resell the levels, such as Stochastics and RSI . Both of them show momentum (driving force) levels perekuplennosti and pereprodannosti.

Arthur Hill

Features of the national trade


No, probably it is in the blood of the population one-sixth of the land ... Everybody knows where it is free cheese, and many know about it, that "we are not so rich to buy cheap things, and still are very fond of halyavu. Even though not stoprotsentnaya ball, but to a less expensive ... So we buy the product in unlimited quantities of the Polish-Turkish-Chinese friendship, klyuem on the pyramid and all the confidence in the two hundred per cent per annum.
Almost the same can be said about the work on international currency markets. What do you think, where the bulk of the clients of brokerage firms, allowing the side of more than 1 00 and a minimum deposit of USD 1 000? True, they probably say porusski! And then you can not particularly straining to make a simple human desire to get where cheaper. As you select a thousand?
Very simply. Suppose you nachitalis on enrichment at the Stock and decided to try. You are getting so protected and hidden from his wife one thousand dollars, and start looking for a suitable office. You in the eye popadaetsya advertising company that offers such an environment: the shoulder 100 and a minimum deposit of 1 000 U.S. dollars. It suits you and that you give us your honest earn thousand ... and possibly two ... but clearly less than ten. By the way, we should note that for the success of the need always to keep abreast of market developments, and that at least a pair of triple-hundred a month, if not more.
Now consider a normal working day: 1 0 August 1 999, 1 4:25 GMT; at this time to EUR LOW = 1, 070 1 HIGH = 1, 0764 LAST = 1 0738 and the day is not over. The difference between these two values is EUR 0,0063, that when the amount of lots in the 1 00 thousand U.S. dollars is USD630, that is, more than half of your deposit. But in your contract probably will be a point that if you lose more than half the money in your account - the position is closed by a locked until you do not fill up or not zaberete their money. Now imagine that you have opened almost at the crest, thinking that the quotes will be even higher, and did not have time to close, when they went down. As a result, over time you lose a thousand dollars, and in the brokerage firm you smiling saying "come yet, they have already committed to you, maybe even ignorirovav orders to the opening position.
Thus, the greater the amount of leverage, the greater the risk is subject to your personal account, and the faster it can dry up. Even if you are lucky, a market movement against you, even briefly, can cost profit for several days.

P.S. But some offer a shoulder 500 ...
Igor Tarielashvili.

Hours Market

The operation of currency markets does not stop even for a minute. His work in calendar days, they begin in the Far East, New Zealand (Wellington), passing successively time zones - in Sydney, Tokyo, Hong Kong, Singapore, Moscow, Frankfurt, London, and finishing the day in New York and Los Angeles.

Counting time zones is of the Prime Meridian, which passes through Greenwich (London suburb), and time is called the world or GMT - Greenwich Meridian Time. Depending on the season (summer or winter) in various financial centers around the world will be different from the world's time GMT on the number of hours in the table
The working day in exchange dealers western commercial banks usually starts at 7.30 am local time. At 8.00 dealers have been actively entered into the transaction. The morning half-hour is usually devoted to a brief analysis of the events that have occurred in world currency markets at the time of commencement of work. Retailers enjoyed the economic and technical analysis of the market, read analytical articles in the media, exchange of views, as well as fresh rumors with each other and with dealers of other commercial banks. On the basis of various data gradually emerging picture of the possible conduct of the exchange rate for the next day with different versions of the probability of certain events.

By eight o'clock in the morning market, consisting of individual dealers, develop tactics and behavior in general is beginning to be included in the operation of global foreign exchange market, giving a new impetus to a robust exchange rate movements.

Various territorial markets can provide the following characteristics typical of the average activity during the day.
Far East

Here, the most active transaction market conversion transactions dollar to the Japanese yen, the dollar and the deutsche mark, yen and marks to the dollar and the Australian dollar. Fluctuations in exchange rates at this time is often negligible, but there are days when currencies, especially the dollar against the yen, commit dizzying flights. Especially when the central bank of Japan conducts monetary intervention. In Moscow at this time of night and day: before noon in Moscow, you can work with Tokyo, before lunch with Singapore.
Western Europe

In 1 0.00 Moscow time to open the market in the European finanasovyh centers Zurich, Frankfurt, Paris and Luxembourg. However, this strong dollar exchange rate movement of major currencies since the beginning 11 .00 Moscow time, when the London market opens. This continues, usually for two to three hours, after which, dealers of European banks go to dinner - lunch, a slightly reduced market activity

North America

The situation is enlivened again with the opening of the market in New York 1 6.00 Moscow time, when the morning work dealers of American banks, and returned to lunch with European dealers. Force of European and American banks about equal, so the fluctuations in the average, do not go beyond the usual European fluctuations. Nevertheless, foreign exchange dealers are eagerly awaiting the opening of nyuyorkskogo market to get fresh data on the possible movement of the course (especially if the European market has been sluggish).

However, after the closure of the European market (about 1 9-20 pm Moscow time), aggressive American banks, left alone to "thin" market, can lead to dramatic changes in the exchange value of the dollar against other currencies.



Approximately:

Japan 03:00-09:30

Continental Europe 09:30-1 6:00

UK 11 :30-1 8:30

USA 1 7:30-00:30

George Soros


George Soros
1930


Born in Hungary, George Soros has learned all their survival instincts from his father during the German occupation in World War II. They were Jews, so the father dostaval false documents and found the place where they can hide. This was a man worthy of respect in the First World War he was taken prisoner by Russian and later escaped from prison. Conclusion Soros: "law-abiding is a dangerous addiction, to survive, it is necessary to circumvent the law." And he acknowledged that it did not accept the rules imposed by others. He was accused of going beyond the limits of fair play in trade and stocks, and currencies.

Embarrassed the Communist regime, established after the Second World War, in 1947, Soros moved to Britain where he studied at the London School of Economics. After working for some time, commercial, he found a job in a financial institution. While Soros has got some experience in arbitration, it is mainly engaged in boring office work, not glittering, and with the blessing of the company, resigned. Its purpose was the New York, but he could not get a work visa, because I was too young to be an expert in any field. This was a mandatory requirement for entry into the United States. Therefore, it was "bypassed" the law and get a formal inquiry, which alleged that the arbitration experts to be young, because they die young, and the government vpustilo it.

In the final analysis, Soros founded his own hedge funds. His investment methods ranged from fundamental research to pure instinct. Soros once said: "... I suffered from back pain. I used the start of acute pain as a signal that in my portfolio that it was not true." This was the more pain in his back - to $ 10,000 invested Soros in 1969, turned in more than 2.8 million dollars in 1988. About Sorose say that he has three technology investment:

1. Start small. If things go, build a great position ...
2. Market stupid, so do not try to be vseveduschim ...
3. Speculator must first determine the level of risk to which he is ready to go. "

Some understanding of what can go wrong, Soros gives diagnostiruya collapse in 1987, in the essay "After the Black Monday." One of his conclusions: the management of monetary policy, a critical global issue in preventing the collapse of the stock market and recessions.

By Site
www.bull-n-bear.ru

The fate of the euro is decided in Washington

Americans are able to trigger off a new single European currency

At the end of the week's finance ministers and central bank heads of the Group of Seven meeting began in the city of Boca Reyton (Florida, USA). It has long been this kind of activities did not cause so much interest throughout the world. In mid-January rate of the single European currency reached a record level: the price of 1 euro reached U.S. $ 1.29 since the beginning of the year is not a day passes without a statement of the United States or European countries, which raises the question of the exchange rate of the euro.

European countries are seeking to halt the prolonged rise of their currencies, which threatens the fragile economic recovery. But no one can delete the unsuccessful outcome of meetings of the Group of Seven in Florida, where between Americans, Europeans, Japanese and spread this battle on the issue of exchange controls. The failure of the meeting could lead to a new upsurge of the European currency.

The most clear policy on exchange controls until Japan. The Government does not wish to increase yen rate, and therefore, in January, the Bank of Japan currency intervention has spent more than $ 60 billion That strategy led to a massive attack of relative stability.

Meanwhile, the U.S. position is hypocritical. Officials in Washington say that the "strong dollar is in the interest of the American economy." President George W. Bush and Treasury Secretary John Snow rub on it when they ask questions about the dollar. However, no one drew attention to the wording of a ritual devoid of meaning.

Over the past few months, Washington has never expressed regret over the falling dollar. Instead, the U.S. Treasury has repeatedly stressed the advantages of a weak dollar for the export performance and economic growth. And, more importantly, urged not to interfere in the situation on the currency market, which according to him, he should govern the dollar.

Observing that the position of the U.S. administration, the operators of the financial markets before the end of January were convinced that the decline in the value of the dollar is in the interest of the White House, which promotes even fall in its currency. However, that confidence has been seriously rasshatana the head of the U.S. Federal Reserve Alan Grinsptnom, which is January 28, announced his intention to raise interest rates. Back in August last year, FHC has promised to maintain interest rates at the same level over a long period. " Now, apparently, the attitude of this institution has changed.

At the height of the campaign the U.S. administration must choose between another decline in the dollar and an attempt to stabilize, which would postpone raising interest rates for the period, which comes after the presidential election. This uncertainty in the position of Washington can ease the task of the Europeans who want to speak with one voice in the matter of the ratio of the euro and the dollar.

January 19 in Brussels, eurozone finance ministers, consolidated the position of President of the European Central Bank (ECB) Jean-Claude Trichet, and expressing concern about the "disproportionate fluctuations in the exchange rate", expressed the need to "stabilize". They also stressed that "the long-term strategy remains unchanged: the euro must keep its value over the medium to long term, according to its economic foundation." This statement is totally eurozone finance ministers reiterated the view of Jean-Claude Trichet announced a few days earlier, in Frank-furte at Main).

Nevertheless, among European governments, there is no unified position on the sharp rise of the euro. Some emphasize the negative side, the other, by contrast, insists on the advantages of increasing the value of European currencies. On the one hand, the rise of the euro is helping the ECB to limit inflation. On the other hand, the euro appreciation would adversely affect the performance of economic growth and ranking of European governments.

It seems paradoxical that the European countries has been able to speak with one voice on the euro. Indeed, just two months ago, EU countries have experienced deep divisions caused by disagreement over the Stability Pact in the euro zone and in fiscal policy. Yet, outwardly apparent firm position of European countries on the euro is actually unsustainable.

At the outset, leading bankers very skeptical about the ability of governments to influence the situation on the currency market. In their view, only Jean-Claude Trichet could maintain stability in international financial markets. Speeches same politicians in Europe only negate the positive effect of the statement by the head of the European Central Bank. Another problem is that the governments of the eurozone and the Central Bank could not agree on how to be the euro. According to the majority of European Finance Ministers, the European currency entered a "danger zone". However, the ECB did not think so: his head said that in the course of the ratio of 1 euro = 1.25 U.S. is not unusual and even more alarming.

In short, the ECB's fear of a rapid fall of the euro, while European governments just do everything possible to ensure the devaluation of the currency. In this situation, when each side is trying to prevent the infringement of their prerogatives, even the slightest rise of the euro could "blow up" demonstration consensus.

Recall that immediately after the statement by the Minister of Finance of France Francis measure that on 19 January at a meeting in Brussels, "the question was raised about lowering interest rates in Europe, followed by the immediate reaction of Jean-Claude Trichet. In his statement of 26 January the head of the ECB said that at that meeting "on interest rates was not discussed."

Against this background, the failure of the upcoming meeting of Group of Seven in Florida, no doubt, will lead to greater differences between the ECB and European governments. Even if the governments of the euro would increase the pressure on the ECB, the latter will be a long fight before intervened in the currency market to hinder the appreciation of the euro.

In Europe, in fact there is no clear policy on the currency market. The only chance for the euro zone is to Americans - the Bush administration and the Fed - came to the conclusion that the dollar has declined too. Thus, the fate of European unity was in the hands of Washington.

By Le Monde (translation Inopressa.Ru)

Kalita-Finance

Kalita-Finance, who are you

The "Kalita-Finance was founded in 1999 and initially focused on providing advisory services on the work of the international financial markets. The main thrust of its activities was the U.S. stock market, the development of which the impressive pace. At the same time, individuals and legal entities wishing to invest outside of Russia, were in a legal vacuum, since, on the one hand, the Russian law is not allowed without restrictions make such investments, and on the other hand, Russian investors were not familiar with the legal aspects of American reality. Having the necessary expertise in this area, the experts of the company have developed and effectively use the legal, economic assistance and advice to those who wish to invest abroad.

As the practical experience of the company, the majority of novice investors do not have what it takes to work in the market fundamentals and technical knowledge and opyanennye potential sverhpribylyami, which offer them colorful advertising immediately incur substantial losses. Most lose interest in the various segments of financial markets. which, while competent approach could indeed be a source of obtaining a sufficiently high level of profits. Unfortunately, many are starting to think about raising their professional level only after big losses, and some permanently drop out of work in the financial markets. As one of the ways to solve this problem, our company decided to implement the project KF-FOREX, which allows you to master the basics of financial literacy with minimal property loss.

The company's activity is based on three key principles: transparency law, which involves the commission of all transactions through the bank and the conclusion of the treaty in the Russian civil law, favorable working conditions for both novice traders and professional market participants, and individual attention to each client.

In addition, we provide online training for traders from Russia and foreign countries and an opportunity to transactions via the Internet and by telephone.

Recently the company introduced new tools of trade and investment - CFD (CFD), which further expanded the investment opportunities of our clients, is actively under way in other areas and segments of the financial market.

We are glad to see you among our customers!

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The company
"Kalita-Finance

Advantages and disadvantages of "LEVERAGE"

Advantages and disadvantages of using margin trading "LEVERAGE"

The rapid development of Internet and the international currency market in mid-1990's led to a practical trade currency to extract income were involved hundreds of millions of private investors. Ability to deal with not only the currency exchange points in the bank, but also directly on the exchange, bypassing intermediaries, attracted to this market means many investors, increasing its liquidity. It is for this reason FOREX into a universal, high-yield, open and most liquid market in the world.

Moreover, profitability of operations in FOREX by several orders of magnitude higher than that of operations in exchange. This was made possible with the invention of machinery margin trading, which in a few years led to the formation of entire institutions, currency trading to help small investors to operate in FOREX an equal footing with larger players that determine the state of international economy and politics: national banks, large investment companies and other financial institutions, vorochayuschimi billions of dollars.

Happiness small investor is obliged to operate in FOREX only so-called shoulder, or by simply, in English - Leverage. We will thoroughly and in detail to give the exact calculations and clever formula. There are profound literature, margin trading, using Leverage is the foundation of all activities in the market FOREX. We just wanted to raise objections about the articles in the first issue FOREX MAGAZINE, the author of sokrushaetsya about - oh, horror! - The possibility of big losses when trading with leverage of 1:100, and even suspects terrible, terrible and treacherous brokers that they were lured to their specific network simple trusting lovely traders. Not without artful brokers in this world, of course. But we do not talk about them, as a tool - on the shoulder, that is on the basis of margin trading.

Let us leave on the conscience of the author's assertion that the shoulder will inevitably lead to losses. So you can agree to that and bricks down on somebody's head, is guilty of a crime, and therefore it should be once and for all ban. Investigate that gives Leverage, for which he needed, and well I use the shoulder, which we, traders, brokers provide. But at the same time, and what are the "shoulders" are found in the market, and which may, indeed, should not rely.

So, the most common size of the shoulder on the FOREX for investors operating amounts from 300 to 10-15 thousand dollars - 1:100. What happens to your money when you open the account with a broker, is starting to buy and sell currency? What does it mean that the shoulder?

After purchasing, for example, one standard lot, you actually bought a thousand dollars of your deposit with a broker in a hundred times more: 1000h100 = 100.000 dollars and exchange them for dollars. But really in the hands of the money you get can not, yet that had not yet invented a mechanism for a real deal, except robbery. That's the essence of margin trading: you get over the 100,000 U.S. dollars that you give to free loan, the amount of dollars that you can afford at the rate prevailing on the FOREX-market in the twinkling of the transaction. And if obmennike bank rate changes twice a day, the FOREX - every minute, and sometimes every second. If for example you are lucky (or you are clever), and now you buy for example, 78 740 dollars at the rate of 1.27, then after 5 minutes, saw that the rate of 1.2730 is already, you can sell 78 740 euro, with the account of the amount of 100,236 dollars. However, since 100000 you like to give credit, then you are obliged to return them, and your "fat" is 236 dollars.

So, actually, "shoulder" in itself - just a tool to operate in the market FOREX considerable amount, and get serious profit Taya work with very small by the standards of FOREX, the capital. Is there a risk? Of course there is. But the measure of the risk involved - it's your choice. If your capital of $ 10,000, then you have the right to take risks in a transaction not more than 3% of its capital, that is translated into concrete realities of the deal - you can afford in the moderate-risk strategy for trade to stop-loss, 30 points from the price (if you're working with one LOTO). However, if you're not lucky, and you will lose - that no more than $ 300. But if you have "guys are crazy and you do not take a lot for these conditions, as, for example, five, then your potential loss (with stop-loss of 30 points from the price) will have $ 1500 or 15% of the capital. And this has nothing to do with his shoulder. You or tolerated rollicking game, or make it clear what you can afford it or not. And if you do not like risk - and do not need to trade on the FOREX - put money in the bank and get their unfortunate 12-17% per annum. There is no leverage, no risk, no champagne. We should not lament about the terrible risks. They are on the FOREX is, and nothing would not be helped. Do you want to reduce them - save the experience, money, and as soon as you dial 30000 extra dollars - you can easily find a brokerage company with a "shoulder" from 1:50 to 1:30. Major brokerage companies are working with such amounts and with such "shoulders".

However, the market is extended to provide leverage and more than 1:100. For example, GCI (http://www.gcitrading.com) provide an opportunity to trade their clients $ 500 for a standard lot for all instruments, which is equivalent to approximately 0.5% margin or leverage of 1:200.

And here is the shoulder, of course, has a potentially much higher risk than even the much more common 1:100. But again - you need not make claims to the broker, and, above all, to himself. If you can afford such risks in terms of money management, and feel confident enough in the market, why not? Because the shoulder is not only bears the greater the risk - and huge profits. So - who is not in danger - do not drink champagne.

Be in yourself and your equity: if you want, you can and you know how to take risks and win - you no "shoulder" is not scared. If you prefer a conservative trade with less risk, and you have the risk capital of at least 30-50 thousand dollars - you must choose a reliable solid broker, providing the shoulder 1:30. If you are in zakromah "hundreds of millions of dollars, and you do not have to shoulder it - you can trade on FOREX as a major player - through its own bank.

VLADIMIR TRUBITSYN
The analyst, trader

World currency market FOREX



The history of the international currency market.
International Monetary Market, which is now to be known as FOREX, has deep-old roots. It goes back to thousands of years BC, when Egypt's first coinage. Sami currency exchange operations in their current understanding began to evolve in the Middle Ages. This was linked to the development of international trade and navigation. The first valyutchikami are Italian menyaly that earned on the exchange rates of different countries.
With the development of interstate relations market for currency exchange operations mutate, acquiring an increasingly shape. The most significant change in the currency market have been made in the twentieth century. Finding the market advanced features started in 70 of the 20 th century, when it was lifted system of fixed rates of one currency against another.
After the lifting of restrictions on currency fluctuations, there's a new kind of business, which is based on a profit in a free system of exchange. And the change of course caused all kinds of market conditions and is regulated only by demand and supply.

30-s XX century
The world financial crisis.
There is the destruction of trade and economic ties. A thing of the past times, the rule of gold coin standard. By the mid-30's London becomes the world's financial center. British pound sterling at that time was the main currency for trade transactions and the establishment of foreign exchange reserves. Even then pound jargon called "Cable" ( "cable"). This name is linked with the fact that the means of communication with the transactions was the telegraph, and information transmitted by cable.
In 1930, the Swiss city of Basel was established Bank for International Settlements. The goal was the creation of financial support for newly independent States and is experiencing balance of payments deficit. Before the First World War, there was a so-called "gold standard". Gold has all the features of money, and paper money freely exchanged for gold, according to the guidelines listed on their official gold content. Therefore, difficulties in establishing the exchange rate does not arise. They were based on a gold parity. This mechanism could operate only in conditions of free sale of gold at a fixed price and with no restrictions on its export. This is in full prior to the First World War.
Arose during the First World War, inflation has made it impossible to maintain razmena exchange for gold and led to the collapse of the "gold standard". In the short time it was revived in 1920-ies. modified, urezannom form. The world economic crisis of 1929-1933 biennium. and it led to the collapse. Thus, in 1931, Britain was forced to cancel the "anchor" the pound sterling to gold. A period of devaluations, periodic adjustments to the parities of currencies, strengthening foreign exchange controls and import restrictions.

1944
In the U.S., was the Bretton Woods conference. It is believed the end of the US-British rivalry. The conference was attended by two major figures: John Maynard Keynes (England) and Harry Dexter White (USA). They managed to create and adopt a new order for the world financial system under the circumstances.
Bretton Woods monetary system, established in 1944. Was designed to combine the hardness inherent in the gold standard and flexibility, differentiating system oscillating courses. There was an official gold content of the national currencies of participating countries, and through it to identify each other parities of currencies. In doing so, the obligation to exchange paper money for gold were recorded. Participating countries Bretton Woods agreement had decided not to reject the exchange rate parity of the value of + / - 1%. Automatic alignment of the balance of payments should have been done by changing income and prices in response to changes in foreign exchange reserves. Only in the case of a "fundamental imbalance" was to change parity.
In accordance with the Bretton Woods agreement, the United States to guarantee the exchange of its currency to gold at a fixed rate, but to bring dollars to the amount could only central bank of another country. In addition, it is seen as a "nedruzhestvennaya" to the U.S. action and has very rarely. However, French President de Gaulle S. manner successfully added to gold reserve in France.

The main provisions of the Bretton Woods system
The International Monetary Fund has become a vital institution that monitors international financial and economic relations;
Declared currency, playing the role of international reserves (the dollar and the de facto pound);
There are adjustable parities of currencies to the U.S. dollar (possibly rejecting - 1%), the dollar is pegged to gold (ounce of gold - $ 35);
IMF members have the right to change the parities only with the consent of the IMF;
Upon completion of the transition period should be a convertible currency, for the observance of the principle of all governments commit themselves to keep international reserves and, if necessary - to carry out intervention in currency markets.
Members of the IMF makes a contribution currency and gold.

1947
For the suspension of communism, the U.S. reconstruction program are the European economy. U.S. Secretary of State Marshall, in his report obrisovyvaet plan, under which the economy of Europe ozdorovitsya to a level where it can maintain its own military capabilities. One of the challenges is utolenie "dollar famine". When in 1949 the U.S. dollar liabilities Europe accounted for 3.1 billion, then in 1959 they reached 10.1 billion dollars.
In the 60 years have been detected weakness of this system, a tendency to accelerate the pace of inflation and increasing disparities in the rates of different countries. This has led to periodic review parities. Although the Bretton Woods system and is considered an example of solid fixed-rate for the period from 1948 to 1967. currencies have changed 109 countries. The average depreciation rate was 48.2%. At least 48 countries carried out for two and a devaluation of their currencies. By 1958, most European countries declared free convertibility of their currencies.

1964
Japan announced the convertibility of its currency. Following the announcement of the convertibility of the major currencies, it became clear that the U.S. is no longer able to maintain the price of $ 35 per ounce of gold. The dollar, inflation is a threat to the United States. The Kennedy administration has taken a number of misconceptions action - imposing a tax on the interest differential, raising the cost of foreign borrowing, and a program of voluntary restrictions on foreign loans. Tax and restrictions have led to the emergence of a new market - the market evrodollarov.

1967
A devaluation of the English pound, which has caused the latest blow to the illusory stability of the Bretton Woods system.

1970
In the U.S., sharply declining interest rates, creating a dramatic crisis of the dollar. Within a short period of time going on a massive outflow of capital from the U.S. to Europe, where interest rates were higher.

May 1971
Germany and the Netherlands announced a temporary free-floating its currency.

August 1971
Inflation has swept, and the U.S.. U.S. balance of payments deficit leads to a reduction in gold from 18 to 11 billion dollars. At the same time, a rise in U.S. external debt. The market price of gold has become more than a fixed, and the U.S. can not artificially support it. Growth deficits forced the U.S. to suspend the convertibility of dollars in gold. August 15, 1971, U.S. President Robert Nixon eliminated between gold and the dollar link, and the U.S. currency lost its support.

December 1971
It was decided that the devaluation of the dollar (the first post-war period, but not the last). At a meeting in the Smithsonian Institution in Washington was a last attempt to save the Bretton Woods system. Interval deviations from parity exchange rates had been raised to 4.5%. To keep the border interval, it was very difficult. And some time later the Bundesbank held intervene in the amount of 5 billion dollars. It was a huge sum in those times, but it has not brought success. Currency markets in Europe and Japan had to be temporarily closed, while the U.S. announced the devaluation of the dollar by 10%. Developed countries have ceased to maintain a fixed parity and let currency swimming.

1973-1974
U.S. to progressively abolish the tax on interest differential and a program of voluntary restrictions on foreign loans. Bretton Woods system has ceased to exist. Since March 1973. regime of floating exchange rates is predominant.
In the last years of the Bretton Woods system of currency traders will benefit a great speculative profits in the period followed the termination of intervention of central banks. After the rejection of the possibility of extracting the fixed rate of return that have been severely limited. Many banks have suffered major losses, and two well-known - "Bankhaus Hershtadt" in Colon and Frenklin National in New York - even gone bankrupt because of failed speculation.

1976
A Jamaican Conference (in Kingston). Representatives of the world's leading states have established new principles of the world monetary system, including a shift to floating rates. States renounced the use of gold as a means to cover the deficit in international payments. The main elements of the new system are inter-state organizations, regulating foreign relations, currency convertibility. Means of payment in favor of national currencies. The main mechanism by which the international currency transactions are commercial banks.

1978
A European Monetary System (EMS). The core of EMU is a grid of cross-currency exchange rates with the central and boundary values of exchange rates. On the whole, the EMU reminds Bretton Woods. If the cross-rate closer to the border, both sides are obliged to conduct an intervention.
A key currency EMU - doychmarka.

1985
Gradually, the ECU is not counting, and physical instrument. Produced ECU-denominated traveler's checks and credit cards, banks offer deposits in the ECU.

The history of European unification

1957
In Rome, an agreement was signed on the formation of the European Economic Community. In the Community include: West Germany (FRG), France, Italy, the Netherlands, Belgium, Luxembourg.

1963
Chancellor Konrad Adenauer and President Charles de Gaulle signed a cooperation agreement between West Germany (FRG) and France.

1969
A meeting of EU leaders, which were set guidelines for a future monetary union within the European Economic Community.

1972
After the collapse of the Bretton Woods system of exchange rates of EU leaders signed the European agreement on the free swimming. For the European currencies were set limits fluctuations in their value relative to each other in the amount of 2.25%.
Collective fluctuation euro against the U.S. dollar was allowed in the amount of 4.5%.

1973
Britain, Ireland, Denmark became members of the European Agreement on the free swimming.

1978-79
Education the European Monetary System. The agreement establishing it was ratified by 9 parties - members of the European Community. The purpose of the establishment of EMU - an attempt to protect the currency of the Member States of the EEC sharp currency fluctuations.
Of the 9 signatories, only 7 have been full members: West Germany (FRG), France, the Netherlands, Belgium, Luxembourg, Denmark, Ireland. Britain did not participate in all documents, Italy joined them on certain conditions.
Simultaneously with the establishment of EMU has introduced a new currency - the ECU. The objective - the establishment of a means of payment within the EMU, and in due course - the replacement of national currencies. ECU was a basket of currencies stranuchastnits EMU. For the national currencies have been set limits on the fluctuations of the central values of 2.25%, for the Italian lira - 6%.

1981
On the European Monetary System joined Greece.

1986
In the European Monetary System will enter Spain and Portugal. For the Spanish Pesetas limits had been placed on the variation in the amount of 6%.

1990
Britain joined the exchange-rate mechanism, which was developed in the framework of EMU, with the pound sterling against the German mark to 2.9500. West Germany (FRG) and East Germany (GDR) have joined together in a unified Germany.

February 1992
In the Dutch city of Maastricht 12 Member States of the European Monetary Union signed a new Treaty on European Union. At the core of the treaty was based on the Rome Agreement of 1957. In the Maastricht Treaty had been scheduled orientations of the single European market, the European Central Bank, the single currency, common economic policy.

September 1992
Heavy times for the European currencies. There was the famous fall of the pound sterling. During the aggressive sales of pounds in the foreign exchange market the Bank of England and other members of the exchange rates were trying to keep it in an acceptable range of fluctuations in support of operations in the market. But all their efforts have not led to the desired result. Then the Bank of England was forced to raise the discount rate three times in one day in the amount of 5% in an attempt to prevent podeshevlenie pound. But the measure does not help, and pressure on the pound continued.
The famous financier George Soros was famous for the fact that playing podeshevlenie pounds and received a huge profit when he saw that the pound would not be able to keep within the established framework of exchange-rate mechanism.
Thus, the Bank of England was forced to withdraw its currency from the mechanism of exchange rates. The fate of the British pound and Italian lira divided. It was announced that they had temporarily come out of the mechanism of exchange rates.

July 1993
Out of the pound sterling exchange rate mechanism strongly influenced the movement of European currencies. All currency felt the intense pressure that has led to significant movements in the direction of their podeshevleniya. An interesting story happened with the French franc. After the devaluation of European currencies French franc remained the last bastion of stability. And then the whole market came to him in the hope that it should understand the plight of other currencies.
Remembering signed a bilateral cooperation agreement, Germany could not leave the franc at rasterzanie. Not only that Bundesbankprinimal involved in interventions in the currency market, but also for the maintenance of the franc, it was done lowering German interest rates. But even such selfless actions have not been able to save the franc from heavy podeshevleniya.
Due to such grand events in the currency market, in the mechanism of exchange rates, it was decided to increase the range of possible fluctuations of its currency to 2.25% and 6% to 15%.

December 1995
European leaders agree to introduce the euro in 1999 for countries that meet certain parameters for the largest government deficits, public debt, inflation and interest rates.

December 1996
Determine the appearance of euro banknotes.

June 1997
Determine the appearance of euro coins and euro-cents.

March 1998
The European Commission recommends a list of 11 countries that will enter the euro: Germany, France, Italy, Belgium, the Netherlands, Luxembourg, Ireland, Portugal, Spain, Austria, Finland.

May 1998
European Parliament approves the choice of 11 countries that will enter the European Monetary Union with the new euro currency. It starts with the choice of candidates for the post of head of the European Central Bank.

January 1999
The market for non-cash transactions and quotes a new European currency euro, which replaced the ECU. 11 European countries recorded exchange rates against the euro. The European Central Bank began to manage the monetary policy of the European Monetary Union (EMU).

Euro (EUR) "became the official currency for 12 EU countries. In the euro area are:

* Germany
* France
* Italy
* Belgium
* Netherlands
* Luxembourg
* Spain
* Portugal
* Greece
* Austria
* Finland
* Ireland.

Britain, Sweden and Denmark have not yet participated in the euro zone.
Rate, foreign exchange each of the countries - members of the EMU in the euro, with the exception of Greece, was fixed 1 January 1999 (see Table 1), while, since that date, each of these currencies ceased to exist as an independent currency. Course conversion drachmas to the euro was fixed on 1 January 2001. Prior to the completion of the conversion of funds in the euro on 1 January 2002, the national currency (HB) existed as subunits of the euro.
Starting from 0.00 in the European time, 1 January 2002 Euro officially became a cash turnover of 12 EC, and the national currencies of the euro zone ceased to exist.
The concept of market FOREX, liquidity
Table 1. Fixed exchange rates of participating European Monetary Union to the Euro:
1 euro = 13.7603 Austrian schillings
= 40.3399 Belgian francs
= 1.95583 German marks
= 5.94573 Finnish markka
= 6.55957 French franc
= 340.750 Greek drachma
= 0.787564 Irish pounds
= 1,936.27 Italian lire
= 40.3399 Luxembourg francs
= 2.20371 Dutch guilders
= 200,482 Portuguese escudos
= 166.386 Spanish Pesetas
International Monetary Market, or market FOREX (Foreign Exchange, or FX), - this is the market exchange (conversion) operations, sales, accounts and granting loans to foreign currency on the specific conditions of the foreign exchange market between the parties. The conditions include the amount, the exchange rate and the performance of a specific date. FOREX Market was formed in 70 years the last century, after undo the Bretton Woods system of fixed exchange rate anchor. Since then, the FOREX is becoming the most dynamic and liquid market. This is the only market in the world, working around the clock, five days a week. The rapid movement of funds, the low cost of transactions, high liquidity makes FOREX one of the most attractive markets for investors.
The essential difference FOREX market from other markets is that it does not have any particular place of trade. FOREX is a huge network of currency dealers connected among themselves through telecommunications, distributed to all the world's leading financial centers around the clock and work as a single mechanism. Currency trading is carried out by telephone or via computer terminals - a transaction carried out simultaneously in hundreds of banks around the world.
The essence of client investments in the market FOREX - this is an operation of buying and selling of foreign exchange contracts in order to profit from changes in exchange rates over time. These operations are known as conversion, and they represent the transaction agents of foreign exchange market for the exchange of specified amounts of the currency of one country to another country's currency at an agreed rate and calculated on a specified date.
The daily volume of conversion operations in the world is from 1 to 3 trillion U.S. dollars. The major currencies, which account for the vast amount of all transactions in the market FOREX, are the U.S. dollar (USD), euro (EUR), Japanese Yen (JPY), Swiss franc (CHF) and the English pound (GBR). Transactions involving the U.S. dollar accounted for about 70%. The share of electronic brokers now account for many of an estimated more than 15% of the market Forex, and tends to increase rapidly.
There are a number of features and significant benefits of the FOREX market, compared with other financial markets:

1. First of all - free conversion of the world's leading currencies;
2. almost 100% I liquidity any transaction. Given the huge volume of transactions every day and every second committed to the FOREX (daily volume of transactions on the FOREX is from 1 to 3 trillion U.S. dollars), are here except where the transaction can not be executed because of lack of demand (as in crisis situations in the stock market shares and securities);
3. through margin trading system, widespread in the FOREX, market participants may be individuals with relatively small investments;
4. widely developed Internet trading system, the saturation of information space of the Internet provides access to current information and foreign exchange trading on the FOREX virtually any interested person from anywhere in the world where there is a possibility to connect to the Internet;
5. the possibility of carrying out transactions of sale of currencies in real time, almost instantly in response to operational information on changing market conditions or events.

For information about the state of financial markets in real time, as well as financial and economic news from Russian and international agencies use of international information systems, such as REUTERS, DOW JONES, CQG, BLOOMBERG, TENFORE etc. For more information on the systems we will in subsequent lectures.

Participants in the international currency market
Major participants in the currency market FOREX are:

* Central banks
* Commercial banks
* Currency Exchange
* Firms engaged in foreign trade
* Investment funds
* Brokerage company
* Individuals

Central banks
The basis of the FOREX market constitute the central banks of different countries. Their role is to manage foreign reserves, currency intervention, influencing the level of the exchange rate, as well as management level of interest rates on investments in local currency. Central banks are interested in maintaining rates at a level that is needed at this moment the economy of the country.
The biggest influence on world currency markets has the U.S. central bank - the Federal Reserve System (US Federal Reserve or FED). Then it was followed by the central banks of Germany - Bundesbank (Deutsche Bundesbank or BUBA) and British (Bank of England also called the Old Lady).
The central banks of countries entering the FOREX, as a rule, not for the purpose of making profits, and to check the stability or the correction of the existing national currency, as the latter has a significant impact on the economy. Central banks also fell on the foreign exchange market and commercial banks. Although profit is not the main purpose of these banks, their loss-making operations do not attract, so the intervention of central banks usually disguised and carried out chereh several commercial banks immediately. The central banks of different countries can carry out joint and coordinated intervention.

Commercial banks
In a large commercial banks performed the bulk of transactions on the FOREX banks holding accounts in the other market participants and be done with them the necessary conversion operations. Banks like to accumulate (through transactions with customers), the aggregate market demand for foreign currency conversions, as well as in attracting and placing funds and go with them to other banks. They operate under the direction of the exporters and importers, investment institutions, insurance and pension fonddov, hedzherov and private investors. Commercial banks in the market comply with orders for currency conversion, and lead their own operations (for speculative purposes and within the hedge investment risks). Customers of banks - are largely eksportnoimportnye companies, transactions in the foreign exchange market for the contracts, hedging (insurance) of its risks, as well as brokerage houses, serving their customers, leading speculation. In addition to meeting the requests of customers, banks can carry out operations, and independently in their own interests and at their own expense. Ultimately, the foreign exchange market is a market for interbank transactions, and, referring to the movement of exchange rates should be kept in mind the interbank foreign exchange market. At the world's largest foreign exchange markets influenced by international banks, the daily volume of transactions which are up to billions of dollars. These banks, like Barclays Bank, Citibank, Chase Manhatten Bank, Deutsche Bank, Union Bank of Switzerland, Citibank, Chase Manhattan Bank, Standard Bank. Some banks (eg, Union Bank of Switzerland) formed the bulk of profits from currency speculation.

Currency Exchange
Unlike the stock exchanges and markets for foreign currency transactions for a period of work of foreign exchange markets was not in a particular building, and during certain hours. The development of telecommunications technology, most major financial institutions in the world use the services markets directly and through intermediaries around the clock. Most major world stock exchanges are London, New York and Tokyo exchange markets.
In some countries with economies in transition, there are currency exchanges, responsible for the implementation of the exchange rates for businesses and market-based exchange rate. The state usually actively regulates the level of the exchange rate, using a compact stock market.
Companies engaged in foreign trade
Companies participating in international trade have a strong demand for foreign currency (importers) and the offer of foreign currency (exporters). In doing so, these organizations direct access to foreign markets, as a rule, do not have and carry out conversion and deposit transactions via commercial banks.

Investment Funds
These companies provided various kinds of international investment, pension, mutual funds, insurance companies and trusts are implementing a policy of diversified management of the portfolio of assets by placing funds in securities of governments and corporations in various countries. The most famous fund "Quantum"; George Soros conducting successful currency speculation.
For this type of firms are also major international corporations engaged in foreign manufacturing investment: the creation of subsidiaries, joint ventures, etc., such as Xerox, Nestle, General Motors and others.

Brokerage houses and businesses
In addition to banks, an active participant in the market were brokerage houses, serve as an intermediary between a large number of banks, funds and commission houses, dealing centers, etc. They, like banks, not only transactions on sales of currency prices, which expose other active participants, but also offer their own prices. Thus, they actively influence the process of pricing and the lives of the entire market, so they are called market-meykerami (market makers).
As a function of brokerage firms and companies are bringing the buyer and seller of foreign currency and the implementation of their conversion operations. During his mediation brokerage firms charge a brokerage commission. At Forex usually no commission as a percentage of the amount of the transaction, or as a pre-specified a certain amount. Typically, dealers brokerage company is listed on the exchange spread, which had already laid their commission.
Brokerage firm, has requested information on courses, is a place where a real exchange rate is already on the transaction. Commercial banks given the current level of satisfaction from the brokerage firms.
Among brokerage firms in the international currency markets, the most famous such as Lasser Marshall, Harlow Butler, Tullett and Tokio, Coutts, Tradition, and others.

Private individuals
Individuals who hold a wide range of non-trade transactions in foreign tourism, remittances, pensions, fees, buying and selling foreign currency. This is also the largest group of conducting monetary transactions with speculative purposes. In contrast to the active participants, passive participants in the market can not make their own quotes and make buying and selling currencies at prices that offer the active market participants. Passive market participants generally have the following objectives: payment of export and import contracts, foreign manufacturing investment, the opening of overseas branches or joint ventures, tourism, speculation on rate differentials, hedging currency risks, etc.
If the active participants in transactions with large amounts to several million dollars, the passive participants can use rychagovuyu or margin trading, where with a small deposit insurance, they can temporarily operate the capital, hundreds of times over this deposit. This method allows you to trade to participate in the currency market to small investors with little capital and thus receive a significant profit
Composition of the major market participants indicates that this market is being actively used "serious business" for serious purposes. Ie not all market participants are using FOREX for speculative purposes. As we have said, changes in exchange rates could lead to huge losses when eksportnoimportnyh operations. Attempts to protect itself against currency risks forcing exporters and importers to apply for those hedging instruments or the currency market: forward contracts, options, futures, etc. Moreover, even the business, which is not related to the export-import operations, may incur losses of exchange rate changes. Therefore, the study FOREX - the mandatory component of any successful business.

CARLO, FOREXTRADER.RU
E-Mail: trader_karlo@mail.ru

Education MQL II Lesson number 2

The company "Fxtest"

Halhalyan Arthur

Technical support for traders

artur@fxtest.ru



Hello, dear readers. Today, we explain in detail the types of variables, to get acquainted with the operators of assignments and instruction if - then.



2.1 Variable numeric type



The variables, as you know, we need to store any information, with a possibility at any time to apply it or change it. Variables numeric type, according to the logic of keeping the number.

var: K (0), N (0) / / Local variables K and N, their default value is 0.

/ / This is a numeric variable type, because default they are listed among the

/ / end of the description of variables, like any other instruction MQL

/ / Finish <,>. If you notice before each line is a double slash

/ / as indicated by One-line comments

/ * This is normal, polnostrochny comment * /

(

K = 1; / / assignment, usually equal sign <=>

N = 10 * 2 / / in the right part can be written mathematical expressions with four / / basic mathematical operations +, -, *, /

K = N +5;

N = (bid + ask) / 2;

K = K +10; / * mathematical expression is not true, because right-hand side is not equal to the left.

Virtually any programming language, including MQL, such an operation assignment is absolutely normal. Following the expression variable K to increase by 10. To better understand this point, you can take that to the sign of equality is the new value of the variable (which we want to get), but after the old value. Ie K = K +10, the new value of K equal to the old, plus 10. * /

);

You can copy all the text in the Meta Editor, from the word var before closing braces, along with descriptions, they are all commented out unnecessarily.



2.2 Variable string type



var: string1 ( "text"), string2 ( "toge text"), string3 ( "");

/ / Variables string type, because default equal to the text box

/ / variable name may contain a figure, but the name of a variable can not begin with numbers

(

string3 = "slovo";

string3 = string1 + string2;

/ * To work with text strings have only one string operator, indicated <+> variable string3, will be "text toge text" * /

);



2.3 Relative Operators



Used to compare two values of the same type. The first value is compared with the second, resulting in a logical True (true) or False (false). Less - '<', more - '>' as well - '=' is not well -'<>', less than or equal to -'<='; greater than or equal to -'>='.



2.4 Instruction if-then



Perhaps there is no torguyuschego expert who does not have this instruction. Since market situation is changing all the time, you need all the time that it is something to compare or verify. To do this, and use this manual.

If (condition) then (to the truth of what is happening with the conditions)

else (effect occurs when the falsehood conditions)

else - an optional part of the instructions

Example:

If k> n then k = k +1; / / 1st

If k> b then k = k +1 else k = k-1; / / 2nd

Notice in the second example, after the first action (a = a +1) is not a semicolon, ie before else <;> do not have to make. If you need to perform several actions that can be used construction begin: end; or {:.};

Example:

If k> b then (k = k +1; b = b-1;)

If k> b then (a = a +1; b = b-1;) else (k = k-1; b = b +1;);



2.5 Variable logical type



These variables can have only 2 values True (true) or False (false). They are used as flags to allow something, or prohibiting. With the variable type logical work logical operators: and, or, not.

Var: k (True), n (false);

(

k = FreeMargin> = 1000;

If not k then exit;

);

There is forced out of the expert, if the free margin is less than or equal to 1000.

We can also write (if k <> True), or (if k = False) and it will have one meaning. Instead of what if, after writing a logical variable and check it on the equality of true, you can simply write the variable, but instead of checking for equality False, in front of a variable is a logical operator is not, as in our case.

If k> 0 and b> 0 then exit;

The operator and (I) groups the conditions after the operation then executed only if the truth of all conditions.

If k> 0 or b> 0 then exit;

The operator or (or) selects at least one of the true condition. Ie If any of the two variables is greater than 0 steps.

The operator not (not), applies to the logical variables. For the variables used by the relative number of type operator is not equal to (<>)

In the next issue we will begin a special study of MQL. We will consider the treatment to the array of quotations and learn to open positions.

Documentation MQL II

4. Reserved words
In the MetaQuotes Language II, there are several groups of reserved words.

1. Logic and the relative operations (logical and relational operations).
AND, NOT, OR.
crosses over, crosses above, crosses under, crosses below.

2. Teams language MQL II (commands).
Array, Begin, Break, Case, Continue, Default, Define, Downto, Else, End, Exit, For, If, Input, Otherwise, Switch, Then, To, Variable, While.
Reserved words, defining a command of language, also called keywords (keywords).

3. Built-in functions (built-in functions).
Abs, AccName, AccountName, Alert, ArcCos, ArcSin, ArcTan, Ceil, CloseOrder, Comment, Cos, CurTime, Day, DayOfWeek, DelArrow, DeleteOrder, DelGlobalVariable, DelObject, Exp, FileClose, FileDelete, FileOpen, FileReadNumber, FileReadString, FileSeek, FileSize, FileTell, FileWrite, Floor, GetGlobalVariable, GetIndexValue, GetIndexValue2, GetTickCount, Highest, Hour, iAC, iAD, iADX, iADXEx, iAlligator, iAO, iATR, iBands, iBandsEx, iBearsPower, iBullsPower, iBWMFI, iCCI, iCCIEx, iCustom, iDeMarker, iEnvelopes, iForce, iFractals, iGator, iIchimoku, iMA, iMAEx, iMACD, iMACDEx, iMFI, iMom, iMomEx, iOBV, iOsMA, iRSI, iRSIEx, iRVI, iSAR, iSTO, iWPR, IsDemo, IsFileEnded, IsFileLineEnded, IsGlobalVariable, IsIndirect, IsTesting, IsTradeAllowed, LastTradeTime, Log, Lowest, MarketInfo, Max, Min, Minute, Mod, ModifyOrder, Month, MoveObject, Normalize, NumberToStr, Ord, OrderValue, Period, Pow, Print, PrintTrade, Return, Rand, Round, Seconds, ServerAddress, SetArrow, SetDebugMode, SetGlobalVariable, SetIndexValue, SetIndexValue2, SetLoopCount, SetObjectText, SetOrder, SetText, Sin, Sqrt, Srand, StrToTime, Symbol, Tan, TimeDay, TimeDayOfWeek, TimeHour, TimeMinute, TimeMonth, TimeSeconds, TimeToStr, TimeToStrEx, TimeYear, UserFunction, Year.

4. Predefined user variables (user defined variables).
Lots, StopLoss, TakeProfit, TrailingStop.

5. Predefined variables Trade Terminal (predefined variables).
AccNum, AccountNumber, Ask, Balance, Bars, Bid, Close, Credit, Equity, FreeMargin, High, Low, Margin, Open, Point, PriceAsk, PriceBid, PriceHigh, PriceLow, PriceTime, Time, TotalProfit, TotalTrades, Volume.

6. Predefined settings built-in functions (macros).
MODE_CLOSE, MODE_DETAILS, MODE_EMA, MODE_FILE, MODE_FIRST, MODE_GATORJAW, MODE_GATORLIPS, MODE_GATORTEETH, MODE_HIGH, MODE_KIJUNSEN, MODE_LWMA, MODE_LOW, MODE_LOWER, MODE_MAIN, MODE_MINUSDI, MODE_OPEN, MODE_PLUSDI, MODE_SECOND, MODE_SENKOUSPAN, MODE_SENKOUSPANA, MODE_SENKOUSPANB, MODE_SIGNAL, MODE_SMA, MODE_SMMA, MODE_STOPLOSS, MODE_TAKEPROFIT, MODE_TENKANSEN, MODE_TIME, MODE_UPPER, MODE_VALUES, MODE_VOLUME, OBJ_FIBO, OBJ_HLINE, OBJ_SYMBOL, OBJ_TEXT, OBJ_TRENDLINE, OBJ_VLINE, OP_BUY, OP_BUYLIMIT, OP_BUYSTOP, OP_SELL, OP_SELLLIMIT, OP_SELLSTOP, PRICE_CLOSE, PRICE_HIGH, PRICE_LOW, PRICE_MEDIAN, PRICE_OPEN, PRICE_TYPICAL, PRICE_WEIGHTED, SEEK_CUR, SEEK_END, SEEK_SET, STYLE_SOLID, STYLE_DASH, STYLE_DOT, STYLE_DASHDOT, STYLE_DASHDOTDOT, SYMBOL_ARROWDOWN, SYMBOL_ARROWUP, SYMBOL_CHECKSIGN, SYMBOL_STOPSIGN, SYMBOL_THUMBSDOWN, SYMBOL_THUMBSUP, TIME_DATE, TIME_MINUTES, TIME_SECONDS, VAL_CLOSEPRICE, VAL_CLOSETIME, VAL_COMMENT, VAL_COMMISSION, VAL_LOTS, AL_OPENPRICE, VAL_OPENTIME, VAL_PROFIT, VAL_STOPLOSS, VAL_SWAP, VAL_SYMBOL, VAL_TAKEPROFIT, VAL_TICKET, VAL_TYPE.
In fact, these words are reserved macros, that is, the parser substitutes instead of the word values. Macros have been introduced for the convenience of the user while writing call options. And instead of numerical values for certain functions can be more convenient and mnemonichnye predefined words. The same goes for the names of colors.

7. Colors (colors).
AliceBlue, AntiqueWhite, Aqua, Aquamarine, Azure, Beige, Bisque, Black, BlanchedAlmond, Blue, BlueViolet, Brown, BurlyWood, CadetBlue, Chartreuse, Chocolate, Coral, CornflowerBlue, Cornsilk, Crimson, Cyan, DarkBlue, DarkCyan, DarkGoldenrod, DarkGray, DarkGreen, DarkKhaki, DarkMagenta, DarkOliveGreen, DarkOrange, DarkOrchid, DarkRed, DarkSalmon, DarkSeaGreen, DarkSlateBlue, DarkSlateGray, DarkTurquoise, DarkViolet, DeepPink, DeepSkyBlue, DimGray, DodgerBlue, FireBrick, FloralWhite, ForestGreen, Fuchsia, Gainsboro, GhostWhite, Gold, Goldenrod, Gray, Green, GreenYellow, Honeydew, HotPink, IndianRed, Indigo, Ivory, Khaki, Lavender, LavenderBlush, LawnGreen, LemonChiffon, LightBlue, LightCoral, LightCyan, LightGoldenrod, LightGreen, LightGrey, LightPink, LightSalmon, LightSeaGreen, LightSkyBlue, LightSlateGray, LightSteelBlue, LightYellow, Lime, LimeGreen, Linen, Magenta, Maroon, MediumAquamarine, MediumBlue, MediumOrchid, MediumPurple, MediumSeaGreen, MediumSlateBlue, MediumSpringGreen, MediumTurquoise, MediumVioletRed, MidnightBlue, MintCream, MistyRose, Moccasin, NavajoWhite, Navy, OldLace, Olive, OliveDrab, Orange, OrangeRed, Orchid, PaleGoldenrod, PaleGreen, PaleTurquoise, PaleVioletRed, PapayaWhip, PeachPuff, Peru, Pink, Plum, PowderBlue, Purple, Red, RosyBrown, RoyalBlue, SaddleBrown, Salmon, SandyBrown, SeaGreen, Seashell, Sienna, Silver, SkyBlue, SlateBlue, SlateGray, Snow, SpringGreen, SteelBlue, Tan, Teal, Thistle, Tomato, Turquoise, Violet, Wheat, White, WhiteSmoke, Yellow, YellowGreen.
All reserved words are case insensitive, ie, can be written as a small or big letters.

4.1. Predefined custom variables
It is often necessary to change a written expert some parameters affecting his work. In order not to every time to correct code expert, manually editing the important variables, like the MetaQuotes system was delivered to the table of properties (in the editor MetaEditor menu Files - Properties ... - bookmark Processing) expert 4 parameters:
Lots - the number of lots
StopLoss - level stoplossa in paragraphs
TakeProfit - level teykprofita in paragraphs
TrailingStop - standard trailing stop in paragraphs
The initial values of these variables can be entered via the spreadsheet program features expert. Either of these values can be changed in a special dialog box settings (settings tab), caused by pressing F7, or through the menu Charts - Expert Advisors - Properties. Because of these variables can not be changed.


To be continued.
By company
MetaQuotes Software Corp.
www.metaquotes.ru

As graphics rates reflect the economic and political factors of the market

As graphics rates reflect the economic and political factors of the market


ForeksKlub
http://www.fxclub.org '

Recently one of our Academy students asked a question: "Is there a link between the technical analysis of curves and objective (psychological, economic, political) causes of the market?"

Of course, the answer is obvious: of course there is. In fact, he and technical analysis. Limit the overall poucheniyami is the easiest, especially since all of our course, strictly speaking, and must give an answer to this question. But people like ??????? get any meaningful explanation at the beginning of his journey.

The best way to show concrete examples of the fundamental factors are found in the chart with the technical lines and what the reasoning for the trader had to clarify a situation to make a decision. A couple of examples I want to tell here. I think they deserve attention, not only those who learn in the classroom, so I designed these examples in a small article. Maybe someone interested.

Just want to say that these examples are taken from a live practice, that is, this is a situation in which it was necessary to take decisions on the opening (or closure) position on a real account in the real market. Hindsight, I can always pick up any number of beautiful examples to demonstrate the power of some methods. But in choosing the method does not account for: the position must be open (or not to open) now, and you explain everything in detail tomorrow. Then everything will be clear, and what forces move the market, and why it turned out, but will be too late. Therefore, if a particular position in front of you clearly are the main factors for you, on time and properly analyzed, was the right decision, but then another and the market agreed with you (that is, the position has brought a profit), it is a valuable example and is remembered for a long time.

To begin with, I wish to emphasize that it is the psychological motives of the market most of us are interested in the technical analysis of the hourly charts, for which we are forced to sell. By themselves, the economic factors may operate on the market long and slow. When the extent of the impact of actions such as changes in interest rates the central bank, and month, in general, not a period. But even if there is no doubt that the movement of currency rates dvinet it up, it does not mean that it is necessary to urgently buy. Not like in a month, but for a few days, the currency could manage to go in any direction for a few figures. Long-term movement would then, in full accordance with the macro-economic theory. But if you get a loss, then you are little comfort.

Therefore, for us it is important to understand that the mood with which the market perceives the current ekonomichekie specific data, financial news, political developments, not just economic theory conclusions or recommendations, written in the handbook on fundamental analysis for the trader. And the handbook and manual, of course, do not lie. But the market is always his opinion and it may not coincide with nothing written earlier.

The examples that I want to relate it to the psychology of the market, although the movements were the basis of financial, economic or political factors.
One of the key considerations that must be considered in the analysis of specific events or the publication of economic indicators: how the event (or value) is different from market expectations. If you figure out (the event) is quite consistent with the expectation of the market, it is usually already taken into account the market (that is, "discounted") movement in prices. A special exchange rate reaction to the published value (event) can not be, despite the overall economic importance of the indicator (interest rates, GDP, inflation, etc.). But if the market had expected one, but came out completely different numbers, or an unexpected event, the market reaction to the substantial economic indicators to be sure, and very often - very energetic.

Therefore, the analysis of the fundamental factors of your decision may be correct only if you have your opinion on the market. If you just read someone's forecast, it's just one of thousands of opinions, which at any moment can be found on the market. He and the price for this, irrespective of the credibility of those who expressed this view. It is not the credibility of the forecast, but in your perception of the market. And for that, choby to have their opinion, it is necessary to continuously monitor the life of the market for its problems, changes in attitudes and reactions. This should be remembered!

Vyhvachenny out of the market context of any economic indicator can not only provide useful information, but also mislead the trader. For example, a textbook for traders or in a book on macroeconomics says that if such a figure is increasing I (Iy), the exchange rate rise. When they saw on the screen is the most Iy, the trader buys the bulk up quickly this currency, and gets a loss, because the exchange rate then falls vigorously. Why is this happening? Yes, for example, because a few days before the publication of indicators on the market I had a lot of speculation, commentary and opinion surveys, showed that all are confident in the growth of this indicator, so that in these days the exchange rate has gradually been raised, because in anticipation of namely the data traders bought the currency. And after the data confirmed expectations that many have already completed their plans and now realize profits by selling at high price of the currency, which they previously had to buy cheap. Massive selling of currency certainly lower its rate, and it is sufficient to ensure a loss to those who do not follow all this time, the behavior of the market.

After the opening of morality turn to the example on this topic. Similarly, in such a scenario unfolded events and decisions on the eve of the Bank of England interest rates at its meeting on 10 February 2000 according to the dynamics of the economic cycle, the Bank's actions were aimed at preventing the threatened increase in inflation higher than officially announced guidance of 2.5%. The increase in prices stimulated activity in the real estate market, high consumer demand in the country and tight labor market. It is therefore expected to increase the basic interest rate (repo rate) at 0.25% to 6.0% per annum. Over the previous few days, a lot of comments from economists, experts and opinion polls statements of market participants have confirmed the general belief that the Bank will take such a decision.

That deal created a very meaningful situation for the trader, who gathered to open a position on the pound on 10 February. On the one hand, the day on the schedule could find a lot of benchmarks to open short position. By adding various technical indicators, could get even more sell-signals. On the other hand, to sell the pound for several hours before the expected increase in interest rates (which, according to all the textbooks, should strengthen the pound) at least risky.

But on the other hand, have a few days, since the beginning of the week, pound vigorously walked up precisely because the entire market was sure to raise the rates of the Bank of England. No wonder that when a meeting of the Bank and its decision confirmed the expectations of the market (the Bank raised rates by a quarter per cent), began a significant rollback pound.

This is a description of the painting retroactively. And here's how it looked in the live market. At the time schedule of the pound, I matured a signal to the discovery of short position for about 5 hours before the appointed time of the announcement of the decision. That is, at the plug, marked by an arrow, it was necessary to decide to sell or not. On the one hand, the trading system said strong sell, the other for four hours through the Bank will raise rates and the pound goes up. What I Soros or what?
On the other hand, the pound had already completed three and a half the figure for the previous four days. How else can? Of course, count on how many pounds dvinet 0.25% increase of rates is difficult. But even a purely formal, 0.25% is about 4 percent from 6%. So the progress in the three figures had already devoured the lion's share of this potential (in the long run) pounds to increase the reaction rate Bank. You can take the whole future course of currency markets have already chosen in advance. Then, after the publication of the decision (ie, when it will be as expected) would roll back a pound. In this case, a short position must be opened with a calm mind. Moreover, the pound directly to this begs. And even it does not matter on what system was there a signal here, and so everything is clear: the good and the trend line probita down, and the divergence of RSI has just formed (as a true divergence, it is then I do not like). The only thing that stops, the rate of four hours.

If you do not have at the head of the clear reasons that I have just raspisal, it is better not to do anything. The stakes have rates and the market can create for them something very nepotrebnoe how many times we have seen. Well, if there is full confidence and understanding of what is happening in the market, and the technical picture shows sell, you should fall without a doubt. What has been done in this case.

I think the answer to a question from the audience, this example provides a very vivid. All that happened over the screen, perfectly reflected in the chart. Technical analysis has never lie.

fundamental analizVtoroy example - it's just pull out of my textbook illustration of the fundamental analysis. A good week was in May 1999 and this policy and the war and the economy. At that time, just took place aggression against Yugoslavia, which is constantly davilo the euro down. Rumors that seemed to be agreement on the cessation of hostilities, immediately lifted the euro. Then, quickly passed the information that the hearing exaggerated, the war successfully, so the euro has gone his own way down further. The resignation of E. Primakov quite expected the market, but it was once linked to another date (for the meeting of the State Duma on the impeachment of Yeltsin). Event held on the earlier resignation had been expected, of course, unexpected obytiem (at least for most), but look at the progress of the euro in a few hours before the event. Who will be taken to convince me that the market is not suspected of this unexpected event. That we did not suspect. Therefore, when a white candle (in a couple of hours before the fall) is ripe buy signal, I have a long position and opened up, as it should be an honest trader. And that turned out? By the way, when a year later, I made back-test a very different trading systems, it is exactly in the same white candle emerged buy signal:

With a proper understanding of what is happening in the market, there should have been safely turn over the position, as in fact (if you read early reports of the resignation), the situation was extremely clear. Who recently came to the Forex, may not remember, but in earlier times was a good currency - the Deutsche Mark (DEM); veterans will remember with sorrow, what it was a good currency for traders. Among the many features of the currency was so: when any political napriyatnostyah in Russia it (s) course instantly fell. Who remembers Traders resignation of General Lebed to any public office performed by the same hands, remember, and a white candle at the time schedule of the German mark. Long after the candle was burning, General Lebed. By the way, the Swiss franc fine then strengthened on the occasion of the fall of the German mark, as on all written. Now is certainly not what the new euro currency heavily shuffled different factors (that's how Frank goes rope tied to the euro), but this is the property of the deutsche mark it is inherited: down with political squabbles in Russia (at least in 1999 . it was so). Many were then lengthy commentary in the press that the West accepted the resignation of Primakov as a positive factor for the great cause of Russian reform. But the technical analysis, we clearly shows that financial markets interpreted the resignation of Primakov as a negative factor for the pan-European currency. In terms of technical analysis is a good example of how the market sees a pre-planned by unexpected events.

Followed a few hours of the resignation of U.S. Treasury Secretary Rubin has appeared on the schedule is indeed an unexpected event. The sharp fall in the dollar interpreted by the fact that Rubin was considered an influential supporter of high-dollar policy. But in general, the schedule shows that the main trends of these developments have not changed.

More simply a quotation from a textbook, what then commented nothing to add. At the end of the week, data on U.S. inflation triggered another sharp market reaction: the U.S. consumer price index for April showed unexpectedly strong growth of 0,7%. For comparison - in March was 0.2%, and forecasts on the basis of interviews with experts predicting no more than 0.4%. Although the basic price increase was linked to took place before the rise in oil prices, but the main indicator of Core CPI, excluding from the consumer basket of food and energy, also rose by 0.4% (0.1% in March). The main thrust of the comments in this regard was that the factors favorable to a strong non-inflationary growth of the U.S. economy (the global financial crisis and falling oil prices), has already ended. The rise in oil prices and the start of recovery in other world economies, including in Asia, will cause a general rise in prices, also in the United States. All opinion was that the FED will soon raise rates, and this was seen as a negative for U.S. financial assets. So the prices of U.S. stocks and bonds, and at the same time with them, and the dollar came under downward pressure.

Because life goes on, it goes forward. The plot is arranged exactly a year, as specifically designed as a training model for novice traders, it was impossible to pass by, so now the continuation of articles:
The circumstances of the fall of the pound after the Bank of England lowering interest rates: 8.02.2001

Painting against the British pound to resemble last year's surprise (10 February 2000), right, up to the contrary: then-expected rate increase, and now decrease, while the pound rose a few days before the meeting of the Bank, but now he fell at least persist . Naprashivalas analogy: if in the past year, after increasing the rates of the pound has fallen, it is now, in response to the decline in rates was expected recovery rate pounds.

Before the meeting, the Bank of the pound had already been on the two-week minimum. Yesterday 23 of the 29 economists in a survey predicted reytrovskom lowering rates (which should have been the first decline in 20 months).

The low level of inflation in England (the inflation rate stood at 2.0% last time, and kept below the official benchmark (2.5%) over 21 months), the expected impact of the U.S. slowdown in the UK (released a few weeks earlier UKGDP Q4 was 0.3%), led to forecasts of future reduce the rates of BOE in the coming months (up to 5.50 or even 5.25). This expectation of future rate cuts commentators then announced a major factor podtolknuvshih pound 8 Feb, 2001 down after the announcement of a reduction in rates at 0.25%.

The reason for the fall of the pound rate also called the Euro, which does not refrain from falling against the dollar, despite the unexpectedly high figures on German industrial production. Commentators say that the market had by this time was crowded with long positions on the euro. In addition, persistently came rumors that the Bank of Greece at this time to sell euros in restructuring its foreign exchange reserves (the following day the Bank of Greece denied these rumors).

An interesting comment caught the next day. The point is that the recent market accustomed to the new logic: a reduction in the rates of the central bank is an incentive to increase the exchange rate, because all believe that the mitigation of the monetary policy of the Central Bank is a stimulus to the economy and therefore, will strengthen the currency. This is certainly evident in the response to the recent reduction in the rates of FED. Thus, the question about the pound is likely to work out why sizhenie rates did not stimulate growth. However, a rise of the pound had already on Friday and continued on Monday 12 February.

So, as you can see, history repeats itself really, but every little (and when and more) in a new way.

And now, back to the subject, with which it all began - whether the graphs show the differences in market sentiment then and now. Look at the following picture and everything will become clear.

If last year for pound, a convincing signal to sell, then at this time, in general, and there was no attempt to show the buy signal. Therefore, talking about istorcheskoy could be quite similar, and it would be correct, but the final decision can be taken only look at the schedule. As we remember - the technical analysis will never lie.

Ten laws of technical trading

Ten laws of technical trading, John Murphy


John Murphy - Chief Technical Analyst StockCharts.com, John Murphy is a very popular author, columnist and lecturer on technical analysis. Ten laws of technical trading "John is the best guide, existing anywhere, for people who are beginners in this field. I recommend that you print this page and refer to it as often as possible.

In what direction the market moves? How far up or down it goes? And when it spread? This is a major technical analysis. For graphs and diagrams and mathematical formulas used to analyze market trends, there are some basic concepts that apply to most theories of today's technical analysts.


John Murphy used his thirty years of experience in this field to develop ten basic laws of technical trading: rules that are presented to help explain the general idea of technical trading for beginners and streamlined method of trading for the more experienced practitioners. These guidelines describe the key tools of technical analysis and how to use them to identify opportunities for buying or selling.

Prior to joining the company StockCharts.com John was over 7 years, technical analyst at CNBCTV on the popular show "Tech Talk" and is the author of three bestsellers on the subject - Technical analysis of financial markets, technical analysis of the international market and Visual investor.

His latest book demonstrates the essence of the visual elements of technical analysis. Basics of its approach to technical analysis show that the more important to determine where the market is going to move than to understand why this is so.
So, the ten most important rules of technical trading:

1. Create a map trends
Study of long-term schedules. Begin with a graphic analysis of monthly and weekly charts covering several years. Larger scale maps of the market "provides an overview of bigger and better perception of the long-term prospects in the market. After a long-term schedule is drawn up, checked against the daily and vnutridnevnymi schedules. Looking only at short-term the market may often bytobmanchivym. Even if you sell only in the short market, you'll do it better when trading in the mid-term or long-term trends.

2. Determine the trend and follow him
Determine the trend and follow him. Market trends come in several formats - long-term, medium-and short-term. First, decide what you are going to sell, and use the appropriate schedule. Make sure that the trading in the direction of the trend. Buy from the depth, if the trend is upward. Sell to the peak, if the trend is down. If you sell on the medium-term trend, use daily and weekly charts. If you sell during the day, use day and vnutridnevnye graphics. But in any case, decide on a large-scale graphics trend, and then use a short time to choose.

3. Look for his maximum and minimum
Find the support and resistance levels. The best place to buy at the levels of support. This support is usually the previous minimum. The best place for the sale of some levels of resistance. Resistance is usually a previous peak. Once the level of resistance was broken, it usually provides support for the movement. In other words the old becomes the new maximum minimum. Similarly, when broken the level of support it would normally support the sales of subsequent movement - at least the old could become the new maximum.

4. Determine how far to turn
Measure percentage returns. Market corrections up or down, usually return a large part of the previous trend. You can measure the correction of the current trend in the percentage. Half the return of the previous trend is most prevalent. The minimum return is normally a one-third of the previous trend. The maximum refund is usually - two-thirds. Returns Fibonacci 38% and 62% also deserve attention. During a rollback in the povyshatelnom trend, hence, the initial point of shopping in the area of return of 33-38 percent.

5. Draw a line
Draw trend lines. Trend line is one of the easiest and most effective graphic tools. All you need is a straight edge and two points on the graph. The lines are a rising trend over the next two levels. Lines downward trend held through two subsequent maximum. Prices are often returned to the trend line, before continuing their trend. Damage trend line is usually a sign of a change of trend. Reliable trendovaya line should be cut to at least three times. The longer trendovaya line and more than the number of times it is tested, so it becomes more reliable.

6. Follow the middle
Follow moving averages. Moving averages provide objective signals for buying and selling. It tells you if the current trend continues, and help to confirm the change of trend. However, moving averages do not tell you beforehand what nadvigaetsya change in trend. The combination of the two moving averages is the most popular way to get trading signals. Some of the most popular combinations of moving averages for the futures - 4 - and 9-day, 9 - and 18-day, 5 - and 20-day. The signals are served, when the average short line crosses the longest. Crossing the price 40-day moving average up or down is also a good trading signals. Since moving averages lines are following the trend indicators, they work best on the market trend.

7. Identify Facing
Track oscillators. Oscillators help determine perekuplennye and resell the markets. While moving averages confirm the change in market trend, oscillators often help warn us in advance that the market is rising or falling too fast, and soon spread. Two of the most popular oscillator is Relative Strength Index (RSI) and Stochastics (Stochastics). They both worked on a scale of 0 to 100. For RSI reading above 70 are perekuplennostyu, and below 30 pereprodannostyu. Values perekuplennosti and pereprodannosti for Stochastics, respectively, 80 and 20. Most traders use the 14-days or weeks for stochastics and either 9 or 14 days, or weeks for RSI. Differences oscillator often warn of razvorotah market. These tools work best in trading range market. Weekly signals can be used as filters for daily signals. Daily signals can be used as filters for intraday charts.

8. Learn the warning signals
Trade with MACD. Moving average convergence divergence (MACD) indicator (developed Gerraldom Appelem) combines a system of overlapping moving averages with the elements perekuplennosti / pereprodannosti oscillators. Buy signal occurs when the fast line crosses up slowly and the two lines below zero. Alert sale occurs when the fast line crosses slow down over the line of zero. Weekly signals are more important than day. MACD histogram shows the difference between the two lines and gives even earlier warnings about the changes of trend. This is called a "histogram" because vertical lines are used to illustrate the difference between the two lines on the graph.

9. There is a trend or not
Use ADX. Line average directional movement index (ADX) helps to define, is the market trend or not. It measures the degree of trend or direction of the market. The growing line ADX imply a strong trend. Falling line ADX imply the absence of trend. The growing line ADX helps moving averages; falling ADX helps oscillator. Displaying the direction of the line ADX, the trader can choose the style of trade and pick the most appropriate indicator of current market conditions.

10. Study confirming signals
Turn the volume and open interest. The volume and open interest are important confirming indicators in futures market. Volume precedes price. It is important to make sure that more is in the direction of the prevailing trend. During a rising trend, more should be in the days of recovery. Rising open interest confirms the arrival of new money to maintain the prevailing trend. Declining public interest are often warned about the near completion of the trend. Significant upward trend should be supported by the increasing volume and rising open interest.

Technical analysis is the skill that improves with experience and study. Always be a student and continue to learn.

Definitions:
Leonardo Fibonacci was a mathematician in the thirteenth century, which brought with accurate and almost continuous communication between the Indo-Arabic numbers in sequence (1, 1, 2, 3, 5, 8, 13, 21, 34, 55, 89, 144 and up to infinity) . The amount of the previous two numbers in the sequence is the next larger number. After the first four, the ratio of any number in the sequence to the next larger number tends to 0.618. This attitude has been known to the ancient Greek and Egyptian mathematicians as the "Golden Section", which is used in art and architecture.

Stochastics - oscillator, promote George Lane in the article on the subject in 1984. It is based on the observation that with an increase in prices, closing prices tend to be closer to the top of the price range on the contrary, in descending trend, closing prices tend to be closer to the bottom of the price range. Stochastics has slightly wider border perekuplennosti and pereprodannosti than RSI, and hence more mobile display. Thus "stohastik estimates of the current price relative to its range for a specified period of time (generally 14 days).