Hello,
Does anyone know hwo to determine the Ax in currency market?
What is an Ax?
The AX is "The market maker who is most central to the price action of a specific security. The ax can be identified by spending several days studying level II quotes and noting which market maker seems to have the greatest effect on the security's price."
AND "Identifying the ax is a common strategy among day traders, and trading in the same direction as this market maker can drastically increase a trader's odds of making successful trades. Any given stock can have several market makers, and the ax for any given security can change every day. It may take a trader several days to determine which market maker is primarily controlling the action of a certain stock."
As defined here -> http://www.investopedia.com/terms/a/ax.asp
Supposedly, some ECN brokers provide you indications (NOT INDICATORS!) on which direction the Ax is moving on a given currency pair. Now does anyone know if this is the case? Is yes, which broker would you suggest and how does one go about interpereting the information provided by the broker?
Thanks
Does anyone know hwo to determine the Ax in currency market?
What is an Ax?
The AX is "The market maker who is most central to the price action of a specific security. The ax can be identified by spending several days studying level II quotes and noting which market maker seems to have the greatest effect on the security's price."
AND "Identifying the ax is a common strategy among day traders, and trading in the same direction as this market maker can drastically increase a trader's odds of making successful trades. Any given stock can have several market makers, and the ax for any given security can change every day. It may take a trader several days to determine which market maker is primarily controlling the action of a certain stock."
As defined here -> http://www.investopedia.com/terms/a/ax.asp
Supposedly, some ECN brokers provide you indications (NOT INDICATORS!) on which direction the Ax is moving on a given currency pair. Now does anyone know if this is the case? Is yes, which broker would you suggest and how does one go about interpereting the information provided by the broker?
Thanks