Hi all.
I am a newbie. First post here.
Just some intro to begin with (no need to read this):
<intro>
I am a university student in Australia, studying pharmacy. I am looking into FX as a path to long term financial freedom, that is, I want to be investing in FOREX, at one level or another, for the rest of my life. For this reason, I want a very solid fundamental understanding of this investment type.
Now, I have scoured through the internet starting at investopedia, looking at stocks etc, then found FOREX. Due to its leverage (I know it's not all good), 24 hours a day open time and capability to trade short, I was interested.
I finished the mini-course over at babypips and have been reading many beginner articles mostly on technical analysis.
I am the kind of person who likes to understand what is going on underneath it all, so TA didn't really appeal to me at all, well not as they explained it since they don't explain the "why?" and the "how?" most of the time.
Then I was getting interested in trading on News. But then I thought I would rather swing trade so I don't have put too much effort in. Well, the whole reason I want to get into this is because I want to make as much money as possible with as little effort/time as possible.
I have played A LOT of online poker so I completely understand the emotional side of it (tilt) and also the bankroll management issues.
</intro>
I want to fully understand the derivation of most of these technical indicators. I understand SMA and EMA and a few others, but I want to know them all and fully understand the basis of these.
From this I would like to develop my own strategies then program my own EA's. I have self-taught experience in PHP and Javascript so I think I won't have too much trouble with the EA C style stuff.
If someone could point me in the direction of a source where technical indicators are fully explained and derived, I would very much appreciate it!
Also if there are any good swing trading strategies that I could read and study in the mean time I would also appreciate that.
This is going to be something long-term for me so I want a solid and complete understanding of what I am doing, in order for me to develop a system that is based solely on reason and logic, as opposed to just trial and error.
Thank you very much.
I am a newbie. First post here.
Just some intro to begin with (no need to read this):
<intro>
I am a university student in Australia, studying pharmacy. I am looking into FX as a path to long term financial freedom, that is, I want to be investing in FOREX, at one level or another, for the rest of my life. For this reason, I want a very solid fundamental understanding of this investment type.
Now, I have scoured through the internet starting at investopedia, looking at stocks etc, then found FOREX. Due to its leverage (I know it's not all good), 24 hours a day open time and capability to trade short, I was interested.
I finished the mini-course over at babypips and have been reading many beginner articles mostly on technical analysis.
I am the kind of person who likes to understand what is going on underneath it all, so TA didn't really appeal to me at all, well not as they explained it since they don't explain the "why?" and the "how?" most of the time.
Then I was getting interested in trading on News. But then I thought I would rather swing trade so I don't have put too much effort in. Well, the whole reason I want to get into this is because I want to make as much money as possible with as little effort/time as possible.
I have played A LOT of online poker so I completely understand the emotional side of it (tilt) and also the bankroll management issues.
</intro>
I want to fully understand the derivation of most of these technical indicators. I understand SMA and EMA and a few others, but I want to know them all and fully understand the basis of these.
From this I would like to develop my own strategies then program my own EA's. I have self-taught experience in PHP and Javascript so I think I won't have too much trouble with the EA C style stuff.
If someone could point me in the direction of a source where technical indicators are fully explained and derived, I would very much appreciate it!
Also if there are any good swing trading strategies that I could read and study in the mean time I would also appreciate that.
This is going to be something long-term for me so I want a solid and complete understanding of what I am doing, in order for me to develop a system that is based solely on reason and logic, as opposed to just trial and error.
Thank you very much.