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.

Sledge

What the Heck is Going on with Forex?

Recommended Posts

I'm not sure if anyone noticed as of late, but I'm wondering what the heck is going on with the Forex Markets?! If you look at the charts from a Daily perspective- they are all making you scratch your head.

 

You look at most currencies- and they just can't seem to find their direction. GBP/USD- Long... No wait Short.. No wait Long, No wait.. HOLD.

 

Same thing with AUD, CAD, NZD and even the crosses like GBP/CHF. So what is going on out there? Trading from a technical side, the CAD had a wild and wicked upthrust 2 days ago. The technical trader started to drool heavily and shorted the ever living tar out of it- this technical trader managed to salvage a whopping 21 pips off a DAILY bar that normally would produce a landslide of prices and by now we'd be 300 pips or better off that upthrust bar high as prices fell hard from lack of professional support.. but on that particular pair (USD/CAD) we are seeing support almost immediately...

 

So what gives ladies and gentlemen? Anyone far more seasoned than myself have a hypothesis of why it is that we could get a 400+ pip rocket launch one day on a GBP/JPY and then a stall immediately?

 

Sledge

Share this post


Link to post
Share on other sites
................ Anyone far more seasoned than myself have a hypothesis of why it is that we could get a 400+ pip rocket launch one day on a GBP/JPY and then a stall immediately?

 

Sledge

 

Thats just the way the cookie crumbles.... Sometimes they move, sometimes they don't... They can't all be shooting 400 pips a day!

 

Swings and roundabouts really. There's volatile times and quiet times, just have to roll with it.........

Share this post


Link to post
Share on other sites

This may seem a bit confrontational, but have you ever considered there is nothing wrong with the currency markets. Perhaps it is the methodologies you are attempting.

 

These markets are no different than they have been in the past....take a look at charts going back to the 70's, 80's and 90's, aside from the price, they are not much different then today.

Share this post


Link to post
Share on other sites

Personally, I LOVE this volatility. Anyone recall what 2006 looked like?... eur/jpy or cable would be lucky to make a 60 pip DAILY range. Now, 100 to 200 pip days are closer to the norm. That's what I like.

:beer:

Share this post


Link to post
Share on other sites

On another forum a couple of years ago I was having a panic attack that cable had died a death and I did some long winded extensive research, (I'll dig out the charts) to see in relation year by year regards the volatility.

 

I haven't traded cable for some time and looked a couple of weeks back to see it moving 200 either way, sometimes twice a day all week. Couldn't believe it as the last time I traded it it was in a 100 point weekly range!

 

swings and roundabouts.....

Edited by wasp

Share this post


Link to post
Share on other sites
On another forum a couple of years ago I was having a panic attack that cable had died a death and I did some long winded extensive research, (I'll dig out the charts) to see in relation year by year regards the volatility.

 

I haven't traded cable for some time and looked a couple of weeks back to see it moving 200 either way, sometimes twice a day all week. Couldn't believe it as the last time I traded it it was in a 100 point weekly range!

 

swings and roundabouts.....

 

Are those statistics you came up with yourself or is there a site someplace where you can find these things? (would be nice to have for indices for example)

Share this post


Link to post
Share on other sites
Are those statistics you came up with yourself or is there a site someplace where you can find these things? (would be nice to have for indices for example)

 

Unfortunately I spent days and days, physically measuring each and every sodding week, one by one.......... :(

Share this post


Link to post
Share on other sites

Very nice chart porn, Wasp! :cool:

 

I for one am thankful a measure of the uncertainty has returned. It has been bloody DULL in recent years, as you have so visually demonstrated.

Share this post


Link to post
Share on other sites

I told a fellow trader that my recent Daily perspective may be too far out for Forex in its present trading range. Seems as if the compass just got all wacked to shat!

Share this post


Link to post
Share on other sites

So what gives ladies and gentlemen? Anyone far more seasoned than myself have a hypothesis of why it is that we could get a 400+ pip rocket launch one day on a GBP/JPY and then a stall immediately?

 

Sledge

 

....but have you ever considered there is nothing wrong with the currency markets. Perhaps it is the methodologies you are attempting.

 

 

It seems that most seasoned and newbie traders alike are hung up on going after and making those big pips everyday from a single pair then get concerned with the market when it doesn't come around to give it. That's market reality and the challenge we face with as traders.

 

You can stick [focus] to the daily on one pair or be flexible enough to work with the market and drill down to the lower timeframes to identify movement, if any. The name of the game is making consistent pips everyday. We are blessed with several currency pairs to look for these opportunities. I also have my focus pair but I am not married it. I let my D1 or H4 swing trades take the big pips as they come. I take my fun pips [money] in lower TF on pairs that will give me the setup for 10-20 or more pips. Like BigKahuna said, "perhaps it is the methodology". I called mine "scalp, cycle n trend".

 

ENJOY!

 

ztrader

Share this post


Link to post
Share on other sites

Wow, I never expected so much hostility for saying I trade longer term that apparently most of you do. Must have stepped into a scalpers hornet nest.

 

To address a few items, whatever your trading style is- long term, medium term, scalper- I'm glad it works for you, I've done it all myself and been successful at it-- Been a scalper, been a one hour trader, been a 4 hr chart follower. Needless to say getting pissy about it doesn't answer the question. The markets are not acting as normal- regardless of the line of B.S. about them being exactly the same for the last 30 50 or 90 years. If they were that predictable- we'd all be living on our own private islands someplace and not having a pissing contest here.

 

So unless an actual explaination of why the markets in forex are up one day and plummeting the next- which is not the norm btw unless it is bottoming or topping- getting into a "This douche must not know how to trade" discussion lends itself to some pretty well wasted bandwidth don't you think?

 

I expect to hear crickets from this point forward.....

Share this post


Link to post
Share on other sites
Wow, I never expected so much hostility for saying I trade longer term that apparently most of you do. Must have stepped into a scalpers hornet nest.

 

To address a few items, whatever your trading style is- long term, medium term, scalper- I'm glad it works for you, I've done it all myself and been successful at it-- Been a scalper, been a one hour trader, been a 4 hr chart follower. Needless to say getting pissy about it doesn't answer the question. The markets are not acting as normal- regardless of the line of B.S. about them being exactly the same for the last 30 50 or 90 years. If they were that predictable- we'd all be living on our own private islands someplace and not having a pissing contest here.

 

So unless an actual explaination of why the markets in forex are up one day and plummeting the next- which is not the norm btw unless it is bottoming or topping- getting into a "This douche must not know how to trade" discussion lends itself to some pretty well wasted bandwidth don't you think?

 

I expect to hear crickets from this point forward.....

 

Sledge,

 

My apology if you had taken my post as hostile; it is not intended to be nor am I entering it in a pissing contest. I was making a general comment and sharing some thoughts on how I see the market and find opportunities within. I have no explanation of why the market in forex moves the way it is. I also trade emini futures and it's about the same story there. My traders IQ is low so I make my approach to trading simple by just going with the market flow and apply market timing. I take what the market gives.

 

I don't think there is an actual nor one right answer to your question. There are lots of high caliber technical traders and market wiz here, who knows, one may come up with it.

 

Again, please accept my sincerest apology. Feel free to ask one of the moderators to delete if you so desire. I wish you the best.

 

ENJOY!

 

ztrader

Share this post


Link to post
Share on other sites

Sledge,

 

How long have you really been trading? A year, maybe two? The price action you see is the norm. No one said you could not trade, but asked for discussion based on the implication you were having difficulties with this market.

 

This action is not new and is not unusual. It may be new to you. If you do not want others to be honest with you, don't ask them questions. You want crap answers, go back to forexfactory that you like to quote so much, they don't like honesty either and are more concerned that someone gets their feelings hurt rather than hear the truth.

 

If you can not handle this discussion without getting your feelings somehow hurt, you have much bigger problems than the current markets price action.

 

Fear and greed move markets. Fear encompasses indecision, which we see a great deal, greed encompasses compulsion, which we also see. Humans move markets by their fear and greed, period.

Share this post


Link to post
Share on other sites

Agreed with BigKahuna.

 

Ztrader's post was not offensive or hostile - it was an attempt to offer genuine help. Relax. Go back and read it again - there is useful information in there.

 

On the markets: they go through small, large and very large cycles of change. Some of them relate to topping actions, some are just the market's delightfully quirky way of disadvantaging as many participants as possible. Perhaps the current times reflect a questioning of whether the US issues are oversold vs the economic issues becoming clearer in Europe now. Perhaps too many people have become committed to trading daily and 4h charts. Such is the joy of trading. ;)

Share this post


Link to post
Share on other sites
Guest
This topic is now closed to further replies.

  • Topics

  • Posts

    • Here’s something few are talking about: The Chinese are printing money like it's going out of style. Not that you'd hear about it in the mainstream news. But Bitcoin knows.   Bitcoin always knows.   Here’s the thing…   When the Chinese government prints money to paper over the cracks, their smart money doesn't sit around waiting to get devalued.   It usually flows into three things: Bitcoin, gold, and dollars.   After years of being beaten down, gold's having one of its best years in decades. But here's the secret -- whatever gold does, Bitcoin's going to do it bigger.   Much bigger.   Since last November, when China started their printing spree, Bitcoin's been moving in near-perfect correlation with the People's Bank of China's balance sheet. Over 80% correlation, maybe even 90%.   Again, few are talking about it.   But here's why this matters right now: This could be the beginning of a huge breakout in the crypto markets.   Bitcoin broke above its July high, and historically, that's led to new all-time highs over 90% of the time. The only times it failed? COVID and the 2022 bear market.   That's it.” – Chris Campbell   Profits from free accurate cryptos signals: https://www.predictmag.com/     
    • Originally Answered: How can I compete with people who are better than me in every way?   So you want to outcompete people who are smarter, better looking and more experienced than you?   No problem!   All you have to do is outwork them.   Will Smith said, "if we both get on a treadmill either you're going to get off first or I'm going to die trying."     Most people just aren't willing to work that hard. Sure, they'll show up for the job interview and maybe practice in front of the mirror for a few minutes, but they won't do hours and hours of research and prepare for weeks. They won't wake up early and stay up late working on their dreams.   So while all those smart, good-looking, experienced people are waiting around for the next opportunity to come their way, you can outwork them and create your own opportunities.   In a few years, you'll be that "smart" person everyone looks up to. But you'll be different. You'll know it was your hard work, your inner strength and your commitment to living a great life that made you successful and brilliant - not luck or good genes.” – Tom Corson-Knowles, Quora Profits from free accurate cryptos signals: https://www.predictmag.com/   
    • @sxiqxx, Well done on making your first post a promising strategy. @everyone, post up if you want this coded into an EA. Although I switched to TradeStation, I still have an active MT5 demo with MetaEditor. I can code it without referencing object oriented programming which should be retroactively compatible with MT4. Let me know...
    • Please allow me to retort (in jest): RESPONSE 1 : Get a job supervising others where you're in control of performance reports and ride those others 100%. This makes your performance 100% with little to no effort.   RESPONSE 2: Feel free to piss off your boss but stay nonviolent. When the side effects of his viagra and testosterone boosters cause him to physically assault you, you have the legal upper hand. This can result in a boatload of trading capital.   RESPONSE 3: Feel free to have intimate relations with your boss if she finds you attractive. Rest assured that mum's the word because once again, you have the legal upper hand. This can also result in a boatload of trading capital.   RESPONSE 4: Don't be fake friends with any enemies... unless you need information from them. Being fake friends with everyone will cause you to become an empty shell of a person with no direction in life.   REPONSE 5: Get your boss to become reliant on your performance (really, just the performance of your subordinates), and then plan an "overheard" conversation wherein you fake an interview with another potential employer. You'll probably get a pay increase or a promotion.   RESPONSE 6: If you can give your 75% percent to a project, give 50% and rely on your legal upper hand(s). Learn to write trading algo's during your other 50%.   RESPONSE 7: Take all of the office boys out to nightclub where you merely sip soft drinks on a weeknight. Upon your return to the office in the morning, inform the security guards that all of the office boys are intoxicated. Your boss will love you for it.   RESPONSE 8: Never try to prove your client wrong or find faults in their processes, but do secretly collect their information in case you jump ship or "someone you know" decides to start his own company.   RESPONSE 9: Never stay in a firm for too long. Instead, use your ill-gotten capital to exit the rat-race and start trading.   RESPONSE 10: Trading pays more than your career. Interpersonal skills are now irrelevant. Use your technical skills for trading. Never stop learning and keep updating your technical skills.😁
    • There are a lot of trading strategies like elliot waves, wyckoff etc so we need to apply those who best suited to our need and are understandable too.
×
×
  • Create New...

Important Information

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