7 Charting Tools for Spread Betting: A practical guide to by Malcolm Pryor

By Malcolm Pryor

Following on from the good fortune of his first books, 'The monetary unfold making a bet instruction manual' and 'Winning unfold making a bet Strategies', Malcolm Pryor now presents the unfold bettor with a close knowing of seven key charting instruments. each one instrument has a task to play within the luck of the unfold bettor, and the instruments can be utilized together to build robust buying and selling strategies.
This new booklet is written in a punchy and competitively priced type, providing a lot of its educating via conscientiously selected examples of charts. the focal point is on sensible technical research thoughts that are without delay suitable to unfold bettors and investors.

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Additional info for 7 Charting Tools for Spread Betting: A practical guide to making money from spread betting with technical analysis

Sample text

I personally don’t find this route as convenient (and so I am prepared to pay both for the convenience and for the full functionality of the ShareScope software), but the free sites may work for you. com This is far from an exhaustive list. If you search the internet for investment software or trading software you will find more suppliers. The spread betting firms themselves also supply technical analysis functionality, but the quality varies quite a bit, and often the data is based on the firms’ own prices rather than the underlying market.

Generally if +DI is above –DI one will not be searching for opportunities to go short, and if –DI is above +DI one will not be searching for opportunities to go long. But the real value of this tool lies in the ADX component. There are two main schools of thought on interpreting ADX; one looks at the level of ADX, the other at whether it is rising or not. My personal preference is to look at both. There are a number of specific ADX patterns which are considered to have predictive power. Overall, ADX is most effective when combined with other analysis techniques.

Overview of tool Strengths of the tool The strengths of Directional Movement as a trend measuring tool are: provides an objective measure can be used as a filter to switch from trend following to counter-trend methods and vice versa easily programmed and therefore available in many trading software programs applicable on all time frames well established and accepted as an analysis tool, particularly in the US Weaknesses of the tool The weaknesses of Directional Movement are: although the basic building blocks of the tool are quite straightforward the way it is assembled is quite complex and the total package takes a little getting used to although the actual calculations of the three components are objective the interpretation of the interplay of the three components does often require some interpretation containing as they do moving average calculations the three components do lag price action; there are times when the tool indicates a trend, but the trend is over, particularly after a fast move in one direction followed by a fast reversal (a “spike”).

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