Building Blocks

Just in case anyone still shows up at this skeleton of a blog, direct your attention to Building Blocks.  It is the new version of the Mind of Plenty blog.   It can be reached at the new sub-domain http://bb.spohrgroup.com.  I mostly post about business related topics there.  There will be some stuff about development, internet marketing, forex, and whatever else catches my fancy.

New Host, New URL

I decided to switch this blog over to my private hosting account. That means you’ll have to access Mind of Plenty at its new official url:

http://mindofplenty.spohrgroup.com

You will also want to update your RSS Feed Aggregators with the new Mind of Plenty Feed address (you can click the link at the bottom of the new site): http://mindofplenty.spohrgroup.com/feed/

Climbing the Wall

Today I went rock climbing for the first time. It was pretty cool. After my friend explained all the necessary safety rules, I was let loose and boy was it a nice work out. As a comparison, it usually takes me about a half hour of normal working out to get tired. After only a couple climbs I could feel a slight shaking in my arms and my hands felt like they endured tons of finger-tip pushups. Basically, it was awesome.

Basic Forex Indicators

I haven’t had a chance to practice Forex too much in the last week or so. However, I have learned about a couple new ways to analyze the charts.

One way is to use the Relative Strength Index (RSI) indicator. It tracks the buying and selling patterns for your currency pair. When you add this indicator to your chart, a second graph will appear with a range from 0 to 100. When it moves over 70 the pair is considered over bought. I’ve read that once it dips under 70 again you can be pretty sure that you should sell your currency pair for a profit. When the RSI moves under 30 this is supposed to be a sign that the currency pair is over sold. When it rises above 30 again it may be advantageous to start buying again.

Another useful indicator is the Moving Daily Average. You can set different time periods for it to average out the price of a currency pair. The indicator will then plot a line on the graph to show the general rise and fall of the currency. There are some more elaborate techniques where you overlap various “time ranges” of this indicator all at once to get more specific buy and sell signals. Once I have some time to include pictures of this technique, I’ll explain more. Until next time…

Loose Change 9/11 and a Critical Viewing Guide

I’ve been looking into 9/11 for quite some time now. For a while it seemed that many of the alternate views contrary to the official story carried considerable weight (though, there were plenty of just down-right stupid ones out there too). I saw a documentary called Loose Change a while back. I found it to be decently presented. I will say it brought up some very interesting points that I had a hard time refuting. I had many debates with people also and I could never get a satisfactory rebuttal. However, now I have found a site that shows most of the arguments made in the movie are only logical on the surface if you do not have all the background information related to them. At the point of this writing, I’ve made it through about 2 pages of the site I keep speaking about. I’ll finish it up in the near future and my suspicions are that it will continue to undo many of Loose Change’s arguments.

So, without further delay, I present the Loose Change Viewing Guide website.

Forex

I just finished a 20 part series to learning Forex (the market where you trade foreign currencies based on their exhange rate). Since it was for free it only gave me a very rudimentary overview of how the market works. However, some very important things I learned in it was the concept of entry orders, stops, and limits. Basically once I learn more about analyzing the market, I can tell my computer to wait to buy/sell a currency until it reaches a certain point. I can also then make it close my position if my losses hit a certain point (stop) or if my profits hit my predetermined exit point (limit).

Over the next couple days I’ll be reading another eBook I have about more indepth market analysis.

Daily Status on “Paper” Trades
I did two trades today with the EUR/USD pair. Here are the details
Trade #1: I bought $1000 Eur/USD and made $160 by letting it sit for about an hour.
Trade #2: I actually sold off too soon in trade #1, so I set my computer to buy once it dropped back down to my selling point. Once it did that, the Euro rose again to an even higher point and I sold off for another $100.

So after those two trades, I made a total of $260. I guess a 26% ROI isn’t that bad in a couple hours.

However, the downside is that I’m making up for some of my losses when I knew less about the market. I lost about $1200 (luckily I’m just paper trading) because I didn’t know about the “stop” I could put on an open position.