>> 200 million per day in Retail forex
Source for this figure, please?
over all: about 200 BILLION for all the FX retail! Even double that amount is not that great and certainly a long way to the 6 billion.
Retail forex is so fragmented that you broker's "share" in all this is much, much less.
200 MILLION liquidity behind the MT4 screens of even the largest FX retail broker is widely optimistic
Given the volume that retail traders put thru, your average retail fx broker does not need much liquidity at all.
Your average retail broker is more concerned about what strategy to use to turn customer accounts into company revenue
Can you also give me details of time of entry, stop loss and tp levels?
Thank you for all the details which I think useful. Now I'd appreciate if you can demonstrate with some real time trading examples rather than complicated theories. They give me headache......
You can learn that 2+2=4 but if you dont know WHY it is 4 you wont be able to solve 6+2.
If you want to make it in this industry, get a grip of yourselves, focus, look into what the big boys are doing, face reality that trading will NEVER be easy unless you put the time and effort in.
Stop the arrogance and stay humble, these people are taking time out of their lives to post here and pass on VALUABLE information to help the people wanting to learn, give credit where its due, if you don't agree then question it yes but do it constructively and give your insight instead of saying "wrong." and nothing else, such bright sparks.
What is this crap I'm reading too that stop hunting/market manipulation doesn't exist? Are you serious? and the people saying this think they're traders? this is basic stuff, read up on it, Barclays, JP Morgan, Citigroup, some of the worlds biggest funds have all just been fined billions of dollars/pounds for colluding to manipulate prices for their own gain.
Thank you for this thread, I really appreciate the time people like you take out of their day to help others.
"I even posted it on a three hour timeframe and was even told their is no such thing as a three hour chart." This has killed me
You are absolutely right. Very kind of you.
When I started out trading I had a few folks who put time and effort for no charge to help and discuss and teach. I believe it's my time to give back. I do tons of live trading sessions and education and have never charged a dime for it.
Not only am I helping others by doing this, it has helped my own trading INCREDIBLY. because when you repeat something a thousand times to other, it'll stick for you aswell.
I am happy to see that there are people who are grateful and you are the sole reason I am doing this.
Thank you again, you truly made my day
The man said it himself, he has NEVER charged for his trading sessions or his educational materials so stop with the commercial talk nonsense, he doesn't want your money.
I'll continue to follow this thread as the information is useful and the writer is very descriptive, I suggest the people wanting to learn how to trade properly do the same. I'd much rather follow this very well written and in depth thread than read something that is no longer than 100 characters with a title like "THE GOLDEN MA CROSSOVER STRATEGY".
Yes it may be confusing and some of the information might not make sense but hey, that is learning for you! don't throw in the towel, keep going until you've got it, I promise you that the time and effort you put into mastering this industry will pay off, be patient and don't rush the process, trust the process.
I'm eager to know how many people use indicators on their charts? probably 95%, wait what were the stats again, 95% of retail traders lose money? come one guys, doesn't take a genius to work out, stop doing what the herd are doing.
I'm out, keep doing what you're doing mate. Safe trading everyone!
MrPipTrading...... It's true. You have to learn what the big boys do or you wont make it. I could go on but don't want to hijack Naviafa's thread - Read it he knows what he is talking about and ignore the naysayers..
Re: Botan626 - I don't want to hijack Naviafa's thread but Its Billions.
FXCM has a daily volume of over 15.5 billion
Oanda has a daily volume of over 7.3 billion
Saxo bank has a daily volume of over 11.4 billion
I could go on. Don't believe anyone who says its millions.
That's just not trading though. If I go to the bank and change my Pounds to dollars that is included. Just think of the total amount of currency's changing hands daily.
These are retail accounts and not institutional accounts.
( From Naviafra second post : Wait for the other seller to sell out his stock).
As soon as London opened price marked up (because there was no more seller left) and unloading started. I guess in Volume , price context we need to see what is happening in background which is few bars ( 10 to 20 depend on time frame) before you want to take a trade.
Remember, the more price falls, the more demand comes in a market.
The more prices rices, the more supply comes in the market
The entry was at the close of the London open candle on 5th May 2019 (Wednesday). I placed the SL slightly below the London open candle (1.2895) and TP is at the round number 1.2950.
Thank you very much for your help
Thanks @skyscraper and @chararu for commenting on the chart.
- Why is your Risk 2 Reward so small?
- Why did you enter long when price was floating around that price level for so long time? If that price had imbalanced supply & demand and demand would kick in fast, it would not consolidate that much usually.
- How was your stop and target calculated? It seems it was without a plan
Stops should be placed a few pips below a good demand level. Targets should be 15-20% from supply and risk 2 reward should not be less than 3:1
When trading heavy imbalanced turning points like this, 3:1 should not be a problem. Some trades go as high as 7:1
A good imbalanced zone should shoot price in a direction pretty quickly, at tops within 3-5 hours. If it doesn't, that zone might not be very strong. Consider bringing your SL breakeven after some movement in your direction when conditions are like this. Bad zones usualy have price bounce around sideways, showing BALANCE which is not what we want
Remember, we are trying to CUT losses. Always focus on cutting losses. You will hit good trades now and then, just keep your losses SMALL because the losing trades mostly outnumber the winner trades
One thing I forgot to add
The more price plays around inside a demand or supply zone, the less significant it becomes, because balance will be found and no orders will go unfilled.
However, this usually is not true for fresh levels!
Remember that when placing targets/stops so you chose wisely
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