Week Two
Last week we quickly went over Japanese candlesticks, the concept of the foreign exchange market (forex) and also did a quick introduction to the MT4 (Metatrader) trading platform. For people interested in this platform, you can have a free trial at www.metaquotes.net, but there are plenty of other brokers that offer this platform as it is widely used for its flexibility. We also discussed in what direction we wanted the club to go during this short semester. Many of you seemed interested in socks and the commodity market, we could take the idea of making teams and present such financial instruments to the class.
Following on the idea of a stock market game, I checked out Jorge’s idea of entering the Merrill Lynch Challenge ( http://careers.ml.com/index.asp?id=76716_79985_81452_16417_16420). I believe that prepare ourselves for this “game” during this semester would be very beneficiary for all and would keep the finance club alive for next semester. There are no limits the number of teams per college so we could create multiple teams for veco. The only problem is that the challenge starts on Monday the 5th of January and finishes on Friday the 6th of February. The veco semester starts on the 18th of January hence we will be at a great disadvantage on the overall position, so its your call: we either prepare for the Merrill Lynch Challenge or we just learn about simple day trading and how to interpret graphs with indicators on different types of markets.
