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Interview With Richard Duncan, Author of The New Depression
Richard Duncan's web site: http://www.richardduncaneconomics.com
The New Depression: The Breakdown of the Pap
the United States stopped backing dollars with gold in 1968, the nature
of money changed. All previous constraints on money and credit creation
were removed and a new economic paradigm took shape. Economic growth
ceased to be driven by capital accumulation and investment as it had
been since before the Industrial Revolution. Instead, credit creation
and consumption began to drive the economic dynamic. In The New Depression: The Breakdown of the Paper Money Economy,
Richard Duncan introduces an analytical framework, The Quantity Theory
of Credit, that explains all aspects of the calamity now unfolding: its
causes, the rationale for the government's policy response to the
crisis, what is likely to happen next, and how those developments will
affect asset prices and investment portfolios.
In his previous book, The Dollar Crisis
(2003), Duncan explained why a severe global economic crisis was
inevitable given the flaws in the post-Bretton Woods international
monetary system, and now he's back to explain what's next. The economic
system that emerged following the abandonment of sound money requires
credit growth to survive. Yet the private sector can bear no additional
debt and the government's creditworthiness is deteriorating rapidly.
Should total credit begin to contract significantly, this New Depression
will become a New Great Depression, with disastrous economic and
geopolitical consequences. That outcome is not inevitable, and this book
describes what must be done to prevent it.
Alarming but essential reading, The New Depression
explains why the global economy is teetering on the brink of falling
into a deep and protracted depression, and how we can restore stability.
Here's a summary of the points discussed:
1. The book starts with a discussion of fractional reserve banking,
observing the connection between debt and money and how debt and
inflation go together.
2. Richard views the current monetary system as flawed and in trouble,
but does not view a return to a gold standard of any kind as possible.
Rather, he thinks the best hope is for governments to attempt to borrow
at very low rates and invest not in consumption but in growth -- invest
in projects that will offer a high economic return. He cites investing
in a new energy grid as an example.
3. Richard does not view China dumping US Treasuries, or the world
decoupling from the dollar as a viable threat. This seems to be part of
why he believes there are a few more years left where low interest rates
4. In terms of investments, Richard favors real estate that can be
turned into rental income. He finds public stocks to be a bit too close
to the derivatives crisis, and does not think gold is immune to a severe
decline if growth cannot be obtained.
Learn how to evaluate the customer service offered by various fx (aka foreign exchange) brokers on the web.
The first video in our series on working with an automated trading system/strategy.
Money Management and ATR explained
Risk & Money Management are very important, if not the most
important issues that must always be addressed by anyone seriously
considering trading the Markets. They cater for the preservation of both
your Initial & Accumulated Trading Capital. You may already have a
great system or set of rules to determine what to buy but if your method
of Money Management is clumsy, you will lose money, unnecessarily! Once
buying that share your role is no longer as a Trader or investor but a
Risk Manager. At some point in time your trading system will meet a draw
down period (losing streak) and if you don't know what to do, you will
lose your feeling of control and try to desperately trade your way out
of this crisis. Many people feel despondent and abandon a perfectly good
trading system, or give up trading altogether with large profits still
to be made.
In this video, we discuss how to create exit rules fo an automated trading system.
In this video, we'll look at how to properly backtest your trading strategy to test its viability.
The second lesson in our free video stock trading course which covers
the features of a stock market that stock traders need to understand.
The Ichimoku KISS Concept
Here is a video explaining how to trade with a simple concept using the
Ichimoku system. I have removed the Tenkan and the Chikou Span and trade
with the Kijun and the Kumo. Before deciding whether or not to
participate in the Forex market, you should carefully consider your
investment objectives, level of experience and risk appetite. Most
importantly, do not invest money you cannot afford to lose.
In this video I will show you how to use the (ADX) Average Daily Index and the Currency Strength Index to trade breakouts of important levels such as Kumo breaks, Fractal breaks and support and resistance.