What Is Your Daily Pre-Trading Routine? Career Development Print ISBN 978-3-642-13525-5 About this chapter 4.0 out of 5 stars 56
Now, a long position is taken after the 5, 12, 21 and 32 period moving average crosses above the 50 period EMA. Similarly, a short position is opened after the 5, 12, 21 and 32 period moving average crosses below the 50 period EMA. A one-hour (H1) time period would complement the system very well. A 60 pip stop loss order is suggested for the system. The position can be closed when the short-term and the medium-term EMAs cross over to the other side of the long-term EMAs. Alternatively, the profit can be booked near the next major support or resistance (depending on short or long position).
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Exchange Money in the UK Mutual Funds Overview Personal settings Types of trends What do you get? PA Traders Large hedge funds and other well capitalized "position traders" are the main professional speculators. According to some economists, individual traders could act as "noise traders" and have a more destabilizing role than larger and better informed actors.
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Case Studies Forex Books 130 Portfolio Margin [label:form-ok] SAP Design
The technical explanations tend to be pretty confusing. In talking about the yield curve on page 23, he says "In normal times, people are willing to pay more for longer-term maturities and bonds." First of all, by normal times he should mean when the yield curve is upward (when a 10 year CD is paying a higher interest rate than a 1 year CD) though I didn't see any confirmation in the text (the yield curve has been upward more of the time for the last 100 years). So... does he mean the people issuing the bonds will pay more or the people buying them? Since companies typically issue bonds, let's guess that by people he means investors purchasing bonds -- BUT people will pay LESS for long maturities when the yield curve is "normal" (implying the securities have a higher yield which means that the purchaser needs to get paid more interest to lock up his/her money for a long time -- a higher interest rate on a 10 year CD). To make what he says correct, it must be the bond-issuers (or the bank, if it is a CD) paying higher rates of interest for longer term securities. Very confusing! He never mentions the time-value of money (generally one expects that $1 now is worth more that getting $1 later -- a bird in the hand is worth two in the bush). Further, he doesn't talk at all about the various types of risk for longer terms (risk that the company will go under - favors a steeper yield curve, risk that you won't be able to invest the money later at a good rate - flattens the yield curve). So he's essentially saying that the yield curve is important. Granted, this is a confusing subject overall -- it probably warrants more space in the book.
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