Jump to content

Welcome to the new Traders Laboratory! Please bear with us as we finish the migration over the next few days. If you find any issues, want to leave feedback, get in touch with us, or offer suggestions please post to the Support forum here.

  • Welcome Guests

    Welcome. You are currently viewing the forum as a guest which does not give you access to all the great features at Traders Laboratory such as interacting with members, access to all forums, downloading attachments, and eligibility to win free giveaways. Registration is fast, simple and absolutely free. Create a FREE Traders Laboratory account here.

Recommended Posts

Guest forsearch

Life is so beautiful and wonderful..........

 

 

Share this post


Link to post
Share on other sites

Alright Forex Traders:

Today the market is very flat.. need someone with more trading experience than my own to give me a hint (no trades in, nothing met set-up) Just curious. Some wonderous news on Monday coming? Some holiday today that I'm not getting a paid day off for hmm hmm hmm?

Aaron

Share this post


Link to post
Share on other sites
Alright Forex Traders:

Today the market is very flat.. need someone with more trading experience than my own to give me a hint (no trades in, nothing met set-up) Just curious. Some wonderous news on Monday coming? Some holiday today that I'm not getting a paid day off for hmm hmm hmm?

 

Here's my 2 cents...

 

"No position" IS a position.

 

If nothing is meeting your criteria, don't trade. It's as simple as that. No point throwing money in a hole if you can't get it back out again.

 

Japan is on holiday on Monday, so some of the yen crosses may be a tad quieter until europe and the US step up to the plate.

 

Weekends are usually when the worst news hits the fan. I don't know if you'd see too many bank failures during the week. The FDIC probably needs that time to get set up for the "new configuration" at the start of the new week when a bank fails.

 

I don't expect we'll see anything big this weekend, but I do personally expect to see more bank failures in the not-too-distant future. If IndyMac (which wasn't even on FDIC's watch list) can fail, who knows what other surprises there might be.

 

Next week looks to be a fairly light week, data wise, except for durable goods on Friday and existing home sales (which will probably continue to be depressed).

 

If Bernanke and company can keep their mouths shut this week, maybe we'll have less jittery markets.

Share this post


Link to post
Share on other sites
Here's my 2 cents...

 

"No position" IS a position.

 

If nothing is meeting your criteria, don't trade. It's as simple as that. No point throwing money in a hole if you can't get it back out again.

 

I agree with you 100%, tis why nothing is open on my trade table ;)

 

I was just curious as to why the market is napping pretty hard. I mean post 12:00 Noon on the NY session on a Friday is a given, always pretty slow and lame. But even London last night seemed to be putzing around and not making too much waves out there. Saw it as odd.. but your explination sounds logical and rational!

 

Aaron

Share this post


Link to post
Share on other sites
Today the market is very flat.. Some wonderous news on Monday coming? Some holiday today that I'm not getting a paid day off for hmm hmm hmm?

Aaron

 

they can get a little tired & grouchy & put in an off day when things are quiet every now & again, but quite a few of the popular pairings have vibrated on & around busy activity levels the past week or so.

 

euro has been a little subdued printing only 73% of it’s avg weekly move. But depending on your appetite, still offered a decent risk short off the big figure back to it’s recent demand zone?

 

I thought Pound/Jap was the most interesting pair of late though. Look at all that hustle & bustle back & forth thru it’s major range barriers. Man, those were real neat ‘pullback & go’ moves (both north & south) off the 210.25-55 zone. Not a bad little shake off 212.0 on the continuation higher low shuffle either.

 

that one printing 1.5 times it’s most recent avg weekly performance return.

 

it's now knocking on a pretty heavy door up here @ 213.80, a keen s&r zone from back toward 4th quarter 07 – 1st quarter 08.

 

those lower levels might just be of interest should prices decide to revisit (profit targets shorts etc), but we now got a fresh zone of interest to focus in on.

 

pound/swiss also hustling a key range barrier up at 2.0410-30. I think that was mentioned on here recently? Might be worth noting that one in your jotter pad.

Share this post


Link to post
Share on other sites

I have a question for any/all of the UK Crew:

 

Say you are sitting on 500 lots Long of XYZ/ABC currency. Your nightly shift change comes in and notices that between the NY Close and the London Open you see a slew of Distribution going on. When your eyes land on said set-ups do you folks say:

A. "Shit, looks like the 500 lots are going to take a dent in profit tonight?"

B. "Oh good, another opportunity to get in Long on a pullback?"

C. Take a few lots of position SHORT to hedge?

D. Something else?

 

I just thought of this question over the weekend. Since you folks have so much to offload and can't just punt all the lots you have in an instant- I guess I was curious as to what your normal response to seeing that you may have a rough night ahead in your currency pairing you have open?

 

Aaron

Share this post


Link to post
Share on other sites

any positions that are active in a pair (whether they be opm or personal accounts) for any longer than a day or two would be usually be drip fed or averaged in, regardless of the aggregate size.

 

it would have to be an awful lot of selling (buying) taking place during Tokyo to raise more than a eyebrow, & would normally signal some kind of unique event unfolding out there which wouldn’t necessarily be directly related to trading.

 

if that was the case, then there are certainly viable alternatives, including phased encashment & options to name but 2.

 

that’s a pretty much open question you pose though. A whole lot depends on which kind of strategy is being employed, over what timeframe, across which pair(s).

 

not every trade or account justifies a mid to long range view. Like everyone else out there, we’re at the mercy of what cards the market deals us. We trip up, we also occasionally get the timing wrong even though we nailed the directional flow. It’s horses & courses.

 

main concern is the risk management. You get that all disjointed & you’ll get your ass handed to you on a golden platter.

 

when we get a trade out of step or it begins to wash out – it’s time to cash your hand in, step back & re-assess.

 

when we get it right & the timings in tune – then it’s time to pile on & ride the waves.

 

You got yourself 2 main game plays out there mister: Damage limitation & profit exposure maximization.

 

Know when to hold em (& compound em) & know when to fold em

Share this post


Link to post
Share on other sites

Tess-

Very nice. Thanks so much for the in-depth reply. Another question for you: Any chance the reasoning for the lack of mid to long range view is related to the summer months and less liquidity and action going on?

 

I sincerely appreciate your views and insight! I also wanted to ask about the Tokyo session. It is always pretty slow and lean as you said. So can I ask- what is your cut-off for your daily picture? Is it London Open to NY Close? You gauge decisions on future direction by what happens on that timeframe? Or something else?

Thanks

Aaron

Share this post


Link to post
Share on other sites

I think the reduced summer-months activity is simply a coincidence this time around Aaron. Sure, there’s definitely less participation at this time of the year, but there’s also a whole pile of other major issues playing out around the world. When you got uncertainty & nervous psychology causing ripples out there, then it’ll get reflected in the price bars.

 

i’m not saying Tokyo is unplayable. It’s just we prefer to roll our sleeves up & start slugging when the playground fills up with kids, & that generally kicks off as the Frankfurt & London children arrive at school.

 

if you study your technical charts, you’ll often see the Yens & their Australasian counterparts doing a little business during the Tokyo shift. The majors might be in snooze mode, but occasionally you’ll get movement, especially if the equity markets are in overdrive.

 

but I guess it would be prudent to transact your business when the liquidity is likely to be at it’s highest? & that definitely pans out during European hours & the NY overlap.

 

our normal daily open to close business hours are Frankfurt open thru to the London close, with half an eye on NY for another couple hrs if it’s been a busy day.

Share this post


Link to post
Share on other sites

our normal daily open to close business hours are Frankfurt open thru to the London close, with half an eye on NY for another couple hrs if it’s been a busy day.

 

So would it be fair to say that Frankfurt open until NY at Noon (on busy days) gives you a clear enough picture to be able to feel confident in your plays until the Frankfurt open again? I know this may sound "prying" in a way, but I'm working to filter the bars I look at.. Seperate the wheat from the chaff and eliminate some noise from my radar.

 

Andre had pointed out to me a while back that Tokyo and Aussie sessions are pretty slow and weak, and they can be filtered out. But I'm working to find which sessions and parts of sessions to really focus on.. figure I have a great group to ask the question of.

 

Much Thanks!

Aaron

Share this post


Link to post
Share on other sites

The times she mentioned are the engine room of the days activity for sure Aaron. If you’re primarily engaged in intra-day plays then that timeframe will be somewhat influential in your decision making.

 

If you’re still utilizing vsa? then like she said, you’d be prudent to focus on the times where the participation/volume is in full flow. I'm not trying to hedge or parry your questions, but each person see's things very different from the next one. And most of the decisions, bias & focus usually revolve around the strategies & set-ups utilized.

 

Andre rolls most his stuff over wherever possible. He rarely participates in intra-day visits to the markets, certainly not as an intentioned play. So his primary focus, strategies & influences will be different to someone adopting a more short-term view of the market.

 

What you really need to do is suck it & see. It would be bad form for me or anyone else to influence or deflect you from researching a particular pair or specific time-zone. What suits your style won’t suit mine & vice versa.

 

You'll soon get a handle on what works (suited to your style) & what doesn't once you attempt to get to work on a pair around differing conditions.

Share this post


Link to post
Share on other sites
Hey there Anna and Tess,

 

Since it's exceedingly slow this morning, I thought I would point you all to a very important article:

 

aha, so you're the culprit?! :o

 

we had that one forwarded from our brother last week.

Share this post


Link to post
Share on other sites

I was wondering if Buk got it because I hadn't heard from him. I laughed myself silly. There are a couple of other posts in the video section of The Onion that are classics.

 

Glad you enjoyed it.

Share this post


Link to post
Share on other sites
The times she mentioned are the engine room of the days activity for sure Aaron. If you’re primarily engaged in intra-day plays then that timeframe will be somewhat influential in your decision making.

I guess it is hard for me to say, my ultimate goal has been to get to a longer term trade, right now I don't have the ability to trade intra-day. Ideally, I would like to see a trend end, get confirmation of the turn and ride that trend until it starts to peter out (On a Daily Chart.) Right now I am honing my 4 Hr and Daily Chart "edge." I really enjoy these timeframes and my arse has eased into them like a comfy chair. Apparently, the summer months or whatever jittery bucket of nerves are playing out in the markets currently are not allowing for that to take place. GBP/USD had a nice top form about a week ago, got the confirmation and took the short, only for it to drift down a tiny amount of pips and return north to take another stab northward. I banked the money, but it seemed pretty odd to have that little fall in it. Same with AUD/USD and EUR/GBP. So instead of the nice 4 or 5 days of trend, we get quick stabs and smaller profits. But alas, this is all part of the learning curve. Still trying to get my bearings of why sometimes the market gives nice moves, and other times, it is like a 2 year olds tantrum :o

 

If you’re still utilizing vsa? then like she said, you’d be prudent to focus on the times where the participation/volume is in full flow. I'm not trying to hedge or parry your questions, but each person see's things very different from the next one. And most of the decisions, bias & focus usually revolve around the strategies & set-ups utilized.

 

I have actually moved a bit away from VSA, I believe it was a solid trading foundation teaching me to look at the bars and the horizon, but I find myself doing much better at seeing a hammer, as an example, and knowing that is one type of trigger bar (if placed appropriately in the chart.) The volume associated with it is semi-irrelevant at the moment. Where the volume comes in for me on it is that with that massive volume that takes place with a nicely formed hammer, 9 times out of 10, we know it will return to that area to re-test supply at some point in the near future, so I'm less surprised by that.

 

Andre rolls most his stuff over wherever possible. He rarely participates in intra-day visits to the markets, certainly not as an intentioned play. So his primary focus, strategies & influences will be different to someone adopting a more short-term view of the market.

 

What you really need to do is suck it & see. It would be bad form for me or anyone else to influence or deflect you from researching a particular pair or specific time-zone. What suits your style won’t suit mine & vice versa.

 

You'll soon get a handle on what works (suited to your style) & what doesn't once you attempt to get to work on a pair around differing conditions.

 

That makes sense, in your office, you may have 10 employees, all with their own style and strategy, as long as it makes the money, I'm sure the person signing the paycheck could care less about strategy.. unless it fails to make the appropriate returns the employee is obligated to provide. :)

 

Thanks Anna!

Aaron

Share this post


Link to post
Share on other sites

FX market turnover soars

 

Category: Industry news

Tags: cable, eur/usd, usd/yen

 

The Foreign Exchange market continues to thrive with UK average daily turnover up to $1.82 trillion in the six months to April. This represents a rise of 54% from a year earlier. All of the major currencies lost maket share as emerging market activity increased. The most heavily traded currency pair was Euro/dollar with 29% of total turnover, followed some way in the distance by Cable at 12% and Dollar/Yen at 11%. Obviously this increase in volume should mean that you get tighter spreads, increased depth and better stops from now on OK ?

 

 

 

Good to see the important things aren't being affected!

Share this post


Link to post
Share on other sites
Hmmm - slightly odd insofar as they don't make any reference to where this number has come from. have a feeling it could be a tad artificial meself.

 

GJ

 

I take everything I read with a pinch of salt anyhow and it hasn't really told us much we don't know (EU No. 1 and cable a late 2nd) and that, yes, more transactions took place, which, to the average retailer, means little to affect them anyhow.

Share this post


Link to post
Share on other sites

Holy Crap, the icecream is melting today.

 

After a + US Consumer Confidence #, the herd decided to get as much as they could. I mean hell after months and months of nothing but crap fundy USD prints- to get a 1.8% increase in Consumer Confidence over estimate- people were looking to snag dollars as if they were going out of style.

 

Put on your rain slickers- the slaughter awaits!

 

Aaron

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.


  • Similar Content

    • By Jonh Smith
      I searched in google with keywords best forex robot 2019 and in the end I found fxflightproEA from their website fxflightpro.com . if anyone has ever bought, I was interested in their ea. I saw a very small drawdown, and monthly profit looks great.and I see myfxbook profit reaching 50% in 50 days. if there are buy please review here and I say thank you if anyone would like to share here.

      thanks
    • By StraussX
      Hi GUYS, Happy Wednesday!
      I'd like to share daily forex analysis from Followme, hope this information helps your trading.
      Today, Let's focus on AUD and NZD.
      AUDUSD is trading at 0.6761; the instrument is moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test the cloud’s downside border at 0.6765 and then resume moving downwards to reach 0.6635. Another signal to confirm further descending movement is the price’s rebounding from the descending channel’s upside border. However, the scenario that implies further decline may be canceled if the price breaks the cloud’s upside border and fixes above 0.6825. In this case, the pair may continue growing towards 0.6905.
       
      NZDUSD is trading at 0.6447; the instrument is moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test the cloud’s downside border at 0.6455 and then resume moving downwards to reach 0.6315. Another signal to confirm further descending movement is the price’s rebounding from the resistance level. However, the scenario that implies further decline may be canceled if the price breaks the cloud’s upside border and fixes above 0.6525. In this case, the pair may continue growing towards 0.6645.
    • By Georgebro8
      So I've been 18 for about 4 months, since I turned 18 I started up an account, and basically thought I was doing amazing because of beginners luck, put in some of my savings and managed to do well, some days I would make £200, one day I even made £900, after time I lost my profits and made a loss as well. I've realised I need to spend the time analysing the market and making technical judgments. I'm trying to read more and spend a lot of my time looking at the charts. is there any advice people can give me. and is making 5% a week a realistic goal to set myself? before anyone assumes that im looking for a get rich quick scheme, im certainly not, I see every loss ive made as a lesson and ensure that I learn from each mistake I make. 
      any advice about indicators, strategies, how to analyse the market, or even analysing earning reports would help me.
    • By edakad
      Firebird is an indicator to identify the price spikes in the market. Firebird indicator first calculates a 10-period moving average, then shifts this moving average a certain percentage above and below the 10-period moving average. The shifted averages are drawn on chart as the red and green line. When price touches these lines, price spike is identified. Usually after a price spike, the trend reverses for some time. The indicator can be used to take advantage of this price behaviors. In daily chart usually the 10 period MA is shifted by 2 percent to form the price bands. On lower time frames like Hourly, Four Hour a smaller percentage price shift is used like 0.5% . The important consideration here is most of the price bars must be contained within the upper and lower bands.
      When price reaches above the upper red band, a sell position is opened. When price reaches the lower green band, buy position is opened. Trades can be managed with proper stop loss and take profit. In the picture, Firebird indicator is attached to daily chart of EUR/USD with 2% shift on MA. Note that almost all price bars are within the price bands. And when price extends beyond these bands, price trend reverses and comes back into the bands.

      FireBird.zip
  • Topics

  • Posts

    • Date: 29th March 2024. GBPUSD Analysis: The Pound Trades Higher But For How Long? The global Stocks Markets are closed due to Easter Friday (Good Friday). The NASDAQ continued to follow the sideways trend while other indices again rose. The SNP500 reaches an all-time high, but the NASDAQ remains under pressure from Tesla, Meta and Apple. The Euro continues to trade lower against all major currencies including the US Dollar, Euro and Japanese Yen. The British Pound is the best performing currency during this morning’s Asian session. However, investors are largely fixing their attention on this afternoon’s Core PCE Price Index. GBPUSD – The Pound Trades Higher but For How Long? The GBPUSD is slightly higher than the day’s open and is primary due to the Pound’s strong performance. At the moment, the British Pound is increasing in value against all major currencies. However, the US Dollar Index is also trading 0.10% higher and for this reason there is a slight conflict here. If investors wish to avoid this conflict, the EURUSD is a better option. This is because, the Euro depreciating against the whole currency market avoiding the “tug-of-war” scenario. The GBPUSD is trading slightly lower than the 2-month’s average price and is trading at 49.10 on the RSI. For this reason, the price of the exchange is at a “neutral” level and is signalling neither a buy nor a sell. The day’s price action and future signals are possibly likely to be triggered by this afternoon’s Core PCE Price Index. Analysts expect the Core PCE Price Index to read 0.3% which is slightly lower than the previous month but will result in the annual figure remaining at 2.85%. The PCE rate is different to the inflation rate and the Fed aims for a rate between 1.5% to 2.00%. Therefore, even if the annual rate remains at 2.85%, as analysts expect, it would be too high for the Fed. If the rate increases, even if only slightly, the US Dollar can again renew bullish momentum and the stock market can come under pressure. This includes the SNP500. Investors are focused on the publication of data on the UK’s gross domestic product (GDP) for the last quarter of 2023: the quarterly figures decreased by 0.3%, and 0.2% over the past 12-months. This confirms the state of a shallow recession and the need for stimulation. The data, combined with a cooling labor market and a steady decline in inflation, increase the likelihood that the Bank of England will soon begin interest rate cuts. In the latest meeting the Bank of England representatives did not see any members vote for a hike. USA500 – The SNP500 Rises to New Highs, But Cannot Hold Onto Gains! The price of the SNP500 rises to an all-time high, before correcting 0.33% and ending the day slightly lower than the open price. Nonetheless, the index performs better than the NASDAQ which came under pressure from Tesla, Meta and Apple which hold a higher weight compared to the SNP500. For the SNP500, these 3 stocks hold a weight of 9.25%, whereas the 3 stocks make up 14.63% of the NASDAQ. The SNP500 is also supported by ExxonMobil’s gains due to higher energy prices. The market will remain closed on Friday due to Easter. However, the market will reopen on Monday for the US and investors can expect high volatility. Investors will also need to take into consideration how the PCE Price Index and the changed value of the US Dollar is likely to affect the stock market next week. Always trade with strict risk management. Your capital is the single most important aspect of your trading business. Please note that times displayed based on local time zone and are from time of writing this report. Click HERE to access the full HFM Economic calendar. Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding on how markets work. Click HERE to register for FREE! Click HERE to READ more Market news. Michalis Efthymiou Market Analyst HFMarkets Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.
    • MT4 is good and will be good until their parent company keep updating the software, later mt4 users will have to switch to mt5.
    • $SOUN SoundHound AI stock at 5.91 support area , see https://stockconsultant.com/?SOUN
    • $ELEV Elevation Oncology stock bull flag breakout watch , see https://stockconsultant.com/?ELEV
    • $AVDX AvidXchange stock narrow range breakout watch above 13.32 , see https://stockconsultant.com/?AVDX
×
×
  • Create New...

Important Information

By using this site, you agree to our Terms of Use.