7 Charting Tools for Spread Betting. A Practical Guide to by Malcolm Pryor

By Malcolm Pryor

Following on from the luck of his first books, 'The monetary unfold having a bet instruction manual' and 'Winning unfold making a bet Strategies', Malcolm Pryor now offers the unfold bettor with an in depth realizing of seven key charting instruments. every one instrument has a job to play within the luck of the unfold bettor, and the instruments can be utilized together to build strong buying and selling strategies.
This new publication is written in a punchy and within your budget type, offering a lot of its instructing via conscientiously selected examples of charts. the point of interest is on sensible technical research recommendations that are without delay appropriate to unfold bettors and investors.

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Extra info for 7 Charting Tools for Spread Betting. A Practical Guide to Making Money from Spread Betting with Technical Analysis

Sample text

On balance, however, users of this tool will maintain that these weaknesses are minor compared with the huge potential benefits available to the trader experienced in interpretation of the tool. Settings The standard setting for the three components of the Directional Movement tool, +DI, -DI and ADX, is 14 periods. This was the setting used by Welles Wilder when he first introduced the tool. A number of other settings have been used successfully by traders over the years, including 8, 10, 13 and 18.

More often than not the criteria I use for defining a trend using this tool are: 8 period ADX 25 or above, and 14 period ADX 20 or above, and 14 period ADX flat or rising. Specific ADX patterns There are a number of specific ADX patterns which traders use. I mention here three of the best known of these: ADX turn down ADX turn up DI crossovers 1. ADX turn down This is mentioned in the original Welles Wilder text, and is well worth paying attention to – not so much as an entry signal but as a warning to exit an existing position at least partially or to tighten stops.

In particular, Stephen Eckett, who provides unique editorial wisdom with a light touch. I would like to take this opportunity to thank Martin Stamp, the creator of the ShareScope software, and the entire ShareScope team, both for creating the software and for allowing me to reproduce charts from it in this book. I would like to thank Dr Van Tharp, friend and mentor. I would like to thank my parents, Maurice, who passed away in 2008, and Marjorie. And most of all I would like to thank Karen, to whom this book is dedicated.

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