Free Stuff

Netdania

Superb FREE forex charts (online, android app, iOS app)

If you don’t already have access to Forex charts, or if you’re finding the ones on your broker’s own platform are a bit clunky and a pain to use, here’s what to do…

Go over to Netdania this instant and check out their amazing free chart platform!

You can use these charts straight through your web browser so you don’t have to install any special software.

You can even ‘pop out’ the chart to run minimised on your desktop – perfect for the odd sneaky check-in when you’re at work (only on ‘official’ tea breaks, of course!).

And their mobile apps for the iphone, ipad, and android devices are a real pleasure to use too.

Here’s how to get the Netdania charts running on your desktop computer:

1) Go to netdania.com and click on the ‘Charts’ tab

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2) Click on the ‘Run’ prompt if you see a pop-up box

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3) You’ll then see a EUR/USD chart slot into place on the webpage.

Click on the little icon of a drawing pin which lets you detach the chart.

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You’ll then have a nice clutter-free standalone candlestick chart running on your computer that you can resize, minimise, tweak and manipulate to suit your own workspace.

It’ll look like this:

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You can of course explore the other tools and settings…

Try selecting some of the different Forex markets from the ‘Instruments’ list… you can have a play with the technical indicators too – you’ll find them under ‘Studies’.

But that’s pretty much all you need to know to get your amazing free charts!

Go and have a play around with those charts now. Make sure you know how to get them up on your screen quickly – maybe save the webpage to your favourites tab, or have the app installed on your phone. That way, you’ve always got instant access to back-up data if your normal charts ever have technical problems.

Netdania really are a top drawer Trader’s Nest recommendation.


Position Size Calculator

I’ve made you this little excel calculator to help you quickly size your trading position.

You’ve probably heard all about limiting the risk on any one trade to a small percentage of your overall trading bank. That’s the way to ensure no single event can have a devastating effect on your trading campaign (and if you need a bit of a refresher there a Money Management module in the trading Academy here).

And I don’t know about you, but I find it can be a bit fiddly at times – especially when you’re trying to get your order in quickly – to be messing around with pen and paper trying to figure out how much the per pip stake should be to keep your risk in check.

Well, suffer no more! Download my little spreadsheet and you can simply punch in your current trade bank balance, the number of pips you’ll be risking on the trade, and the percentage of your trade bank you want to allocate to the trade, and it’ll work out the maximum stake size you can use, all at the click of a button.

Here’s how it looks on your screen:position size calc

 

And you can click here to download it to your own computer.


 Reward to Risk Calculator

Here’s another little spreadsheet calculator that can save you a bit of time.

You can use this one to quickly figure out the Reward to Risk ratio on any trade before you pull the trigger. Just type in the number of pips risk you’ll need to take, and also type in the number of pips potential profit you’ll make if the trade runs to your hard target price. The calculator will then show your trade as a ration of Reward against the Risk you’ll be taking.

For example, a trade that risks 50 pips and has a target exit price that will make a potential 100 pips profit has a Reward to Risk ratio of 2:1 – you’re making twice as much as you’ll be risking and that’s a great trade. But it’s not always so obvious to see the Reward:Risk ratio so clearly…

If you’re under a bit of pressure to get your order placed quickly, you can use this little tool as a last double-check to make sure there’s enough potential profit in it for you.

It’s a simple little tool. Here’s how it looks on your screen:

reward to risk calc

And you can click here to download it to your computer


 

 Fibonacci Calculator

Another calculator for you…

This one works out the fibonacci retracement and extension levels for any particular price move you may be working with.

All you have to do is enter the high and low prices of the move you’re measuring and the calculator will do everything else for you. There are two separate areas on the spreadsheet – one for when you’re working with up-moves and one for working with down-moves.

Here’s how it looks on your screen:

fib calc

And you can click here to download it to your computer


 

Kevin’s Psychology of Trading slide deck

Kevin (one of your fellow Trader’s Nest members) kindly shares his hard-won knowledge of trading psychology here.

He’s condensed all the core concepts you should be following into a single, easy to refer to, document.

He has a quick read of this two or three times per week to keep himself thinking straight about trading.

And I’ll tell you what… it’ll do you the world of good to follow his lead!

You can download the Psychology of Trading PDF by clicking the image below

psychology of trading

More coming soon! Please check back regularly