Hey guys, lets use this thread as a sort of poll ,each telling their views on why this August was not the worst faiure of the year for most traders. Quick and concise please! -)
#1-Me: In an environment where France claimed 2 months ago they were going into bankruptcy, the Greek rioting and depression,Cypress bailout stuff and the Euro kept rising for weeks. But......the Euro stopped waiting for the US stock market to tell it what to do, so there is sometimes the usual correlation and sometimes not. And the most bizarre thing is, you watch trading on any time frame, lets take the daily, and you have big volume with 3 small green up candles on each day. Then you have small volume on one red candle that wipes out 3 candles with much bigger volume? WHY IS VOLUME NO LONGER A STRONG INDICATOR? You see pairs move in the Asian session on vol bars you cant barely see, and then huge volume comes in at 7 or 8am the other way and cant even wipe out what was done in the asian session, then NY opens and it just cant dig its feet in anymore and take one direction. Its chaos. And what happened to the Japanese promise to pressure their dollar? Is it still on...or not? Did they lose trillions or not?
Are we trending now or not? And why is it so hard to get the 3 major time frames to agree on the trend? That has probably put more players on the sidelines or made more anxious players blow out their accounts than ever before in history of Forex trading.
This has been my worst month in 15 yrs of trading.Just nibbling on small lots!!! There is no follow thru on any decent time frame. Engulfing candles used to be huge indicators. Now................???????? Can we be entering an era where a prudent stop is almost guaranteed to get you hit and wider stops are now the way to go? Or...are picking tops and bottoms and going for thr homerun with 15-25 point stops the way. Im seeing success on paper with both...and neither!
#1-Me: In an environment where France claimed 2 months ago they were going into bankruptcy, the Greek rioting and depression,Cypress bailout stuff and the Euro kept rising for weeks. But......the Euro stopped waiting for the US stock market to tell it what to do, so there is sometimes the usual correlation and sometimes not. And the most bizarre thing is, you watch trading on any time frame, lets take the daily, and you have big volume with 3 small green up candles on each day. Then you have small volume on one red candle that wipes out 3 candles with much bigger volume? WHY IS VOLUME NO LONGER A STRONG INDICATOR? You see pairs move in the Asian session on vol bars you cant barely see, and then huge volume comes in at 7 or 8am the other way and cant even wipe out what was done in the asian session, then NY opens and it just cant dig its feet in anymore and take one direction. Its chaos. And what happened to the Japanese promise to pressure their dollar? Is it still on...or not? Did they lose trillions or not?
Are we trending now or not? And why is it so hard to get the 3 major time frames to agree on the trend? That has probably put more players on the sidelines or made more anxious players blow out their accounts than ever before in history of Forex trading.
This has been my worst month in 15 yrs of trading.Just nibbling on small lots!!! There is no follow thru on any decent time frame. Engulfing candles used to be huge indicators. Now................???????? Can we be entering an era where a prudent stop is almost guaranteed to get you hit and wider stops are now the way to go? Or...are picking tops and bottoms and going for thr homerun with 15-25 point stops the way. Im seeing success on paper with both...and neither!