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Bank Currency Strength

  • #341
  • May 2, 2018 10:51am May 2, 2018 10:51am
Quoting stimpy
When people don't state who they are working for then its pretty scummy if not scammy. There are some loons on this forum - like any other forum. Do your homework. All these 'firms' do is relay data available further upstream for more money and split it out. Someone has to take a cut somewhere - remember 'trading' forex is posh gambling. Nearly everything in this game is a con - don't pretend it isn't. When you have the advantage of seeing how funds, trade floors, brokers operate then you see it for what it is - sales. Nonnodom - api link is available...
Thank you Stimpy, I found API documentation.


IMHO, it is not serious that people promote or support services in Forex.
The problem is that these people must clearly state in writing that they do (it is not enough that they are tagged as "commercial"), without hiding behind false technical conversations with posts where they support each other and make opinions appear to be what instead is pure promotion . If they do this they deceive those who approach trading without much experience and are pushed to actions that make them lose money.
I will not give your shared stuff to anybody else. Only just mine.
  • #342
  • May 2, 2018 1:48pm May 2, 2018 1:48pm
Quoting neilgroom
This is my setup using the API of myfxbook (It does give different readings then myfxbook as I give more value to the volume then the percent. I'll post an update every few days if the readings change. It gives better trades then looking at myfxbook. I will be back tomorrow. All the best and happy pips all. (Remember they are contrarian trades) {image}
I searched for an indicator that uses the Myfxbook API for community outlook and found this which looks similar to yours. It gives almost the exact same stats although the volume numbers are not 100% the same, but very close.

I'm still monitoring it to see how close it matches, but so far its 99%.

I'm not sure if this is an older version or not, I found it online somewhere, as I was unable to download directly from forex21's website.
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Truth is like poetry. And most people f*cking hate poetry.
  • #343
  • May 2, 2018 1:51pm May 2, 2018 1:51pm
Quoting mrdfx
{quote} I searched for an indicator that uses the Myfxbook API for community outlook and found this which looks similar to yours. It gives almost the exact same stats although the volume numbers are not 100% the same, but very close. I'm still monitoring it to see how close it matches, but so far its 99%. I'm not sure if this is an older version or not, I found it online somewhere, as I was unable to download directly from forex21's website. {image}
this is the forexinsider indicator.
  • #344
  • May 2, 2018 2:17pm May 2, 2018 2:17pm
Quoting mrdfx
{quote} I searched for an indicator that uses the Myfxbook API for community outlook and found this which looks similar to yours. It gives almost the exact same stats although the volume numbers are not 100% the same, but very close. I'm still monitoring it to see how close it matches, but so far its 99%. I'm not sure if this is an older version or not, I found it online somewhere, as I was unable to download directly from forex21's website. {image}
Me too! You go to a page that asks for your email address in order to (I presume) to download the indicator and nothing happens!
  • #345
  • May 2, 2018 3:07pm May 2, 2018 3:07pm
Here it is. Just unzip file and add to experts folder. You need to add your myfxbook username and password to it.
Attached File(s)
File Type: zip Forex-Insider-fx84net.zip   770 KB | 1,471 downloads
The most violent element in society is IGNORANCE
  • #346
  • May 2, 2018 3:23pm May 2, 2018 3:23pm
Here is an indicator that I have. I haven't used it much. You have to load it and then give it a few minutes for it to load the info. It gives you a % of Buys or Sells on the pair you load it on. You have to load it onto the pair you want to trade.

Attached File(s)
File Type: ex4 fxr_forex_sentiment_1.16.ex4   28 KB | 900 downloads
  • #347
  • May 2, 2018 3:50pm May 2, 2018 3:50pm
There are some traders testing the BankersFX bank positions indicator, but I think only after a month of testing can anyone give proper feedback whether its legit or not.

Lets wait a few weeks and then we'll know.

I don't think we can call scam just yet based out of some coincidental unproven assumptions.

Like the law states, innocent until proven guilty!
Truth is like poetry. And most people f*cking hate poetry.
  • #348
  • May 2, 2018 3:51pm May 2, 2018 3:51pm
Quoting neilgroom
Here it is. Just unzip file and add to experts folder. You need to add your myfxbook username and password to it. {file}
Yup that's the same one I found and am using.
Truth is like poetry. And most people f*cking hate poetry.
  • #349
  • May 2, 2018 5:39pm May 2, 2018 5:39pm
Quoting neilgroom
Here it is. Just unzip file and add to experts folder. You need to add your myfxbook username and password to it. {file}
Perfect, thanks a lot!
  • #350
  • May 2, 2018 8:28pm May 2, 2018 8:28pm
Quoting neilgroom
Here it is. Just unzip file and add to experts folder. You need to add your myfxbook username and password to it. {file}
Hi neilgroom,

Please advise the activation method as I have already input the user iD (email) and password of myfxbook in the ea, but it shows no access to myfxbook....anything I miss?

Thanks in advance.
  • #351
  • May 2, 2018 8:30pm May 2, 2018 8:30pm
Quoting jasonckb
{quote} Hi neilgroom, Please advise the activation method as I have already input the user iD (email) and password of myfxbook in the ea, but it shows no access to myfxbook....anything I miss? Thanks in advance.
Read the PDF that came with it..

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  • #352
  • May 2, 2018 8:35pm May 2, 2018 8:35pm
Quoting osjoe2
{quote} Read the PDF that came with it.. {image}
Tks mate, got it. Have read the pdf but overlook this step
  • #353
  • May 2, 2018 8:57pm May 2, 2018 8:57pm
I work at a tier1 bank that is a major player in FX market. Let me say it without any doubt if anyone is selling something saying they know bank's positions, they are no more than a big fat scam. No one outside bank will know that bank's real positions forget it knowing on daily basis for all the banks.

And to tell you how banks are organized - you have multiple traders - spot, forwards and options (short dated, long dated, vanilla, structured etc). Even within a bank one trader wont know what the real position is for other trader. And only few people will know combined positions from all these desks. That too is not a static number and can swing from yard in one direction in the morning to yard in reverse at the end of day. Also banks don't have delta exposure only.. with options other greeks come into play so we may be long delta and short vol and short gamma.. it is not a one dimensional play.

So if you believe some website can sell you an indicator showing currency strengths based on bank's positions, I have a bridge to sell you. Just think about it.
Think : Trade : Live Life
  • #354
  • May 2, 2018 9:14pm May 2, 2018 9:14pm
Quoting stt
I work at a tier1 bank that is a major player in FX market. Let me say it without any doubt if anyone is selling something saying they know bank's positions, they are no more than a big fat scam. No one outside bank will know that bank's real positions forget it knowing on daily basis for all the banks. And to tell you how banks are organized - you have multiple traders - spot, forwards and options (short dated, long dated, vanilla, structured etc). Even within a bank one trader wont know what the real position is for other trader. And only few...
You can't tell them though as they all want the easy way. If forex was easy we would all be mega rich. Why do 95% lose in forex.. The only answer is their lazy. Cruel I know but it's the truth.

Here is some real info from Barclays. An Investment bank in the city where I live. Real info on why the USD has been strong and the GBP has been weak.
All it takes is a little research... Little correction time for the dollar now. You see now why did I close half my position in the USD/JPY yesterday.... I KNEW.
Research, research and more research. It pays off.

USD
The most notable mover yesterday was the US dollar, which rose more than half of one percent against a basket of other currencies. The dollar index (DXY) has strengthened about 3.5% over the past couple of weeks, recoupling with rising US Treasury yields and ending a breakdown in correlation between the two that started last summer.
GBP
The UK is participating in the recent theme of disappointing economic data. Net lending plummeted to £0.3bn in March from £1.7bn in February and was well below the average of the past year (£1.5bn). March storms are partly to blame, but unsecured credit growth has steadily slowed since the peak in 2016. This data tells the same story as the BoE credit survey and coincides with the slower growth in consumer spending. Another weak UK data point: April's manufacturing PMI fell to multi-month lows, with weakness in employment and the consumer sector standing out. In terms of market implications, investors may take the data as confirmation that a hike at the May MPC is now off the table.
And this comes straight from an Investment bank.

 

  1. The key event today is the US FOMC meeting. We expect the committee to keep the target range for the federal funds rate unchanged at 1.50-1.75% while it debates the effects of fiscal stimulus on the outlook. Although the committee will likely be more restrained in its assessment of the recent data flow given the soft patch in activity in Q1, we do not believe the slowdown will alter the committee’s baseline view that significant fiscal stimulus will keep the US economy operating in an above-trend growth environment for the next two years. Any slowing in near-term activity is likely to give way to stronger growth in the second and third quarter. The passing of recent base effects holding down inflation has left the committee feeling more comfortable about hitting its 2.0% target and, along with a declining unemployment rate, should lead to another 25bp rate increase in June.


Trouble is all people want is that magic indicator or EA. Keep on with the myfxbook and do some research.

The most violent element in society is IGNORANCE
  • #355
  • May 2, 2018 9:30pm May 2, 2018 9:30pm
Quoting stt
I work at a tier1 bank that is a major player in FX market. Let me say it without any doubt if anyone is selling something saying they know bank's positions, they are no more than a big fat scam. No one outside bank will know that bank's real positions forget it knowing on daily basis for all the banks. And to tell you how banks are organized - you have multiple traders - spot, forwards and options (short dated, long dated, vanilla, structured etc). Even within a bank one trader wont know what the real position is for other trader. And only few...
You then definitely don't work at the Tier 1 bank. I have posted a message earlier as well about the data that's provided through terminals like Eikon, Bloomberg. I don't know about Bankersfx, EFX, but I know that the data is there available for those who can pay for it. I have been an Eikon user for the past three years and I am a subscriber for a reason. I will just give you one service out of the many that Eikon has, FXBuzz, real time news about what banks expect the price to go, and till what price. Let me put in another, a messenger service, with multiple chatrooms for you to join, yes this includes FX as well and the participants are no coaching class students for sure. For all those out there, whatever is that you think can work for you, TRY it first, always, always get a hands-on experience first, even if you fail or get scammed, at least it was your choice, what if people cry scam and it turns out to be good but you didn't even try it, even that's your choice of listening to others. Those who are crying scam here are the ones who haven't even tried it. Yes, it can very well be a scam but I will believe it only when I try it first hand. People used to say Eikon is an expensive waste of shit that's it, still I went for it, and it's been worth it.
  • #356
  • May 2, 2018 9:40pm May 2, 2018 9:40pm
Quoting shettytushar
{quote} You then definitely don't work at the Tier 1 bank. I have posted a message earlier as well about the data that's provided through terminals like Eikon, Bloomberg. I don't know about Bankersfx, EFX, but I know that the data is there available for those who can pay for it. I have been an Eikon user for the past three years and I am a subscriber for a reason. I will just give you one service out of the many that Eikon has, FXBuzz, real time news about what banks expect the price to go, and till what price. Let me put in another, a messenger...
i have both reuters and bloomberg and let me again say, you do not get Bank's position on these platforms either no matter how many times you say you can see bank's positions.

>> "real time news about what banks expect the price to go," : what does this even mean. Have you ever been on a bank's trading floor? There are multiple groups and each can have their own expectations. Then there is research and they can have their views as well - many times you will see bank's economist is going one way and research group going another. There is no such thing as "Bank expect the price to go" - different groups at the bank expect different directions/magnitudes.

Both bberg and reuters are great tools - for historical data that they have, timely news etc but don't ever say they have bank's positions information.
Think : Trade : Live Life
  • #357
  • May 2, 2018 9:49pm May 2, 2018 9:49pm
Quoting stt
{quote} i have both reuters and bloomberg and let me again say, you do not get Bank's position on these platforms either no matter how many times you say you can see bank's positions. >> "real time news about what banks expect the price to go," : what does this even mean. Have you ever been on a bank's trading floor? There are multiple groups and each can have their own expectations. Then there is research and they can have their views as well - many times you will see bank's economist is going one way and research group going another. There is...
STT, If I may ask you a question. In your opinion what do you consider the most important fundamental news to follow?....also do you think that there is any FA that you consider a "leading indicator" to what a pair might do? i.e. bank rates or SPX500 for USD....or the Dollar Index....or Bond Yields? Sorry if im not clear enough in my questions, I am new to Fundamental Analysis. I'm just trying to find a strategy or maye a "checklist" if you will that includes some sort of "leading indicators" that can help me with my FA research on a day to day basis. I'm trying NOT to waste my time reading news releases on events that have happend already or news that won't help since that info has already been priced in. Thanks STT

EDIT: Anyone can feel free to answer this question if you feel you have some good advice to share. All is welcome! TY!
  • #358
  • May 2, 2018 9:49pm May 2, 2018 9:49pm
Quoting stt
{quote} i have both reuters and bloomberg and let me again say, you do not get Bank's position on these platforms either no matter how many times you say you can see bank's positions. >> "real time news about what banks expect the price to go," : what does this even mean. Have you ever been on a bank's trading floor? There are multiple groups and each can have their own expectations. Then there is research and they can have their views as well - many times you will see bank's economist is going one way and research group going another. There is...
No you definitely don't have it then. Try Thomson Reuters IFR Markets it's integrated into Eikon and who you will get what you say is not available. And why will anyone buy expensive piece of software for historical data, come on.

Lastly, if anyone chooses to listen rather than have a first hand experience, even that's your choice. If you have ever had a loss in Forex, you would know, that you learn from trying and not from just listening to others.
  • #359
  • May 2, 2018 9:51pm May 2, 2018 9:51pm
Don't argue about it.. Do as I do and ignore things. Just carry on with life... The USD is about doomed now. When will the big correction come. Could be tomorrow, could be next week but it will come and come big.. When the USD reaches that level it drops like crazy and in days... Mega pips galore.

Ok people go on about investment bankers and I work for them etc, etc,etc.... If you are that clever WHY do you work for someone else... I don't. I have my own office in my house. I answer to no one..

The USD index with special method.
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The most violent element in society is IGNORANCE
  • #360
  • May 2, 2018 9:56pm May 2, 2018 9:56pm
Quoting shettytushar
{quote} No you definitely don't have it then. Try Thomson Reuters IFR Markets it's integrated into Eikon and who you will get what you say is not available. And why will anyone buy expensive piece of software for historical data, come on. Lastly, if anyone chooses to listen rather than have a first hand experience, even that's your choice. If you have ever had a loss in Forex, you would know, that you learn from trying and not from just listening to others.
Since you claim to see each bank's positions, can you post a screen shot from reuters? Also can i ask you how do you think reuters will get this proprietary data from banks - will banks just send them their realtime position feed? Also do you think it is even legal to do that - if you ever worked in the industry you would know that getting information about competitors prices/positions is illegal and can be considered collusion - remember the big FX lawsuit where few traders from few top banks were sharing some information on a chat group - banks got fined over 10b+ combined for that.

As far as I know IFR just has analysis and commentary and public data. No Bank's positions.

And then you tell me you can see all that from reuters for just 700$ per month...

>> And why will anyone buy expensive piece of software for historical data, come on.
Historical data for millions of tradable asset in one place accessible anytime without building inhouse technolgy - yes that is a good value proposition and firms will gladly pay few thousands per month for this. + news and messaging functionality... there is enough value in that (may not be for retail trader but for instituional trader thats a great deal).

>> if anyone chooses to listen rather than have a first hand experience, even that's your choice.
I have no problem with people choosing to try whatever they thing may work. But marketing something falsely and then having people to pay even to try (i.e. no free trial) is taking advantage of people with expectations that enough fools will be there to hand over their money.
Think : Trade : Live Life
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