GBP/USD volume thin? | Forex Factory

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GBP/USD volume thin?

  • #1
  • First Post: Oct 8, 2007 9:31pm Oct 8, 2007 9:31pm
Is it just my ECN, or has volume seemed very thin on GBP/USD for at least a couple weeks now? Excluding news releases, it seems very low in otherwise active times. Anyone else make such an observation?
  • #2
  • Oct 8, 2007 10:26pm Oct 8, 2007 10:26pm
Volume is fine...
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  • #3
  • Oct 8, 2007 10:47pm Oct 8, 2007 10:47pm
Wow dude. I really can't believe the admins let you run around hijacking every thread for the sake of promoting your ranbow e-book. I thought the FF forums were managed more strictly than that. I guess "who you know" must help quite a bit.

Any one else (not promoting an e-book) made the same observation? Even right now is a good example. GBP/USD is chopping along in an otherwise busy time (Asian session wrapping up, European banking session about to take off).
  • #4
  • Oct 8, 2007 11:46pm Oct 8, 2007 11:46pm
2 - 400 pip ranges seem fine to me, and it doesnt really pick up for another 15 minutes :
  • #5
  • Oct 9, 2007 12:41am Oct 9, 2007 12:41am
Well I'm looking @ a 40 pip range since the start of the trading day, and I'm also looking at a whole bunch of nothing for big stretches of time lol. Most of the move came in a couple half hour periods.
  • #6
  • Oct 9, 2007 12:47am Oct 9, 2007 12:47am
Quoting Pip Hunter E
Well I'm looking @ a 40 pip range since the start of the trading day, and I'm also looking at a whole bunch of nothing for big stretches of time lol. Most of the move came in a couple half hour periods.
When does your day start/end?
Virtue finds and chooses the mean. Aristotle, Ethica Nichomachea
  • #7
  • Oct 9, 2007 12:52am Oct 9, 2007 12:52am
Quoting Pip Hunter E
Wow dude. I really can't believe the admins let you run around hijacking every thread for the sake of promoting your ranbow e-book. I thought the FF forums were managed more strictly than that. I guess "who you know" must help quite a bit.

Any one else (not promoting an e-book) made the same observation? Even right now is a good example. GBP/USD is chopping along in an otherwise busy time (Asian session wrapping up, European banking session about to take off).
He hasnt hijacked anything here it seems, just was lazy to remove his template. You should be readier to think well of people's intentions, trust me, it helps in this crazy life. He is showing you the range for the day of Oct 8. I think it is on-topic.
Virtue finds and chooses the mean. Aristotle, Ethica Nichomachea
  • #8
  • Oct 9, 2007 1:07am Oct 9, 2007 1:07am
Quoting Pip Hunter E
Wow dude. I really can't believe the admins let you run around hijacking every thread for the sake of promoting your ranbow e-book. I thought the FF forums were managed more strictly than that. I guess "who you know" must help quite a bit.

Any one else (not promoting an e-book) made the same observation? Even right now is a good example. GBP/USD is chopping along in an otherwise busy time (Asian session wrapping up, European banking session about to take off).

I see a chart, no mention of an e-book anywhere.
Just Trade It
  • #9
  • Oct 9, 2007 1:31am Oct 9, 2007 1:31am
Market day starts 5p Eastern in FX.

Read some more in the forums and you'll understand my statements well enough.
  • #10
  • Oct 9, 2007 1:48am Oct 9, 2007 1:48am
Quoting Pip Hunter E
Market day starts 5p Eastern in FX.
Actually the day starts at 0:00 (midnight) in forex like everywhere else - it depends on your broker and what timezone they prefer. Mine uses european central, so the day starts 0:00 CET, and its the same as 17:00 EST of the previous day in the US like you said.. But not all have this.

And the range for yesterday was about 82 pips. Not exciting, but not terrible.
Virtue finds and chooses the mean. Aristotle, Ethica Nichomachea
  • #11
  • Oct 9, 2007 2:18am Oct 9, 2007 2:18am
With all due respect, that's not correct. Look into it and you'll see.
  • #12
  • Oct 9, 2007 3:56am Oct 9, 2007 3:56am
Quoting Pip Hunter E
With all due respect, that's not correct. Look into it and you'll see.
What is not correct? Are you saying that all brokers have the exact same timezone? There are no brokers who are GMT+3 and others GMT+2..etc? I could be wrong of course, but I don't think so. It's been a while since I read about these details.

Perhaps smjones or somebody can help with an illustration from a non CET broker.... It doesn't matter much but its interesting.
Virtue finds and chooses the mean. Aristotle, Ethica Nichomachea
  • #13
  • Oct 9, 2007 4:03am Oct 9, 2007 4:03am
Your broker doesn't matter. The universally accepted begin / end of the FX "market day" is based on 5p Eastern. This is *extremely important* to know if you are using any measurements that are based on a daily FX period.
  • #14
  • Oct 9, 2007 5:17am Oct 9, 2007 5:17am
I disagree - I can take any point on the clock to be marked as the beginning of my day. Forex is a 24 hour market. Unless you are looking at a very short time period(2 days or so) then it doesn't matter at all, it's simply a matter of convention.

Excluding the new york session/putting it in a different day than your Tokyo session is not wise (if you plan to make statistical trades), because most powerful news comes out of the US and you will probably do better to understand a day's activities/volatility with the London or NY trading session as a starting point.

The reason I asked you was so that I could see how far back this "low volume" thing was going on on your chart. Which ECN are you with?
Virtue finds and chooses the mean. Aristotle, Ethica Nichomachea
  • #15
  • Oct 10, 2007 2:44am Oct 10, 2007 2:44am
You certainly can, but if you aren't looking at the data other traders are looking at, the data is of no use. If you are plotting anything using daily data, and you are using anything other than a 5P NY close, you are not looking at what most of us are looking at. I'm surprised this is the first you've heard of this if you've got 1000 trades under your belt. Ask around. This is certainly not my personal opinion I'm stating.

I can't list my broker until I have 100 posts
  • #16
  • Last Post: Oct 10, 2007 4:44am Oct 10, 2007 4:44am
Quoting Pip Hunter E
Market day starts 5p Eastern in FX.

Read some more in the forums and you'll understand my statements well enough.

Since you make such statements dont you think you should at least check on them?

Since I did I know that since lt released his book like 95% of his posts are in his own thread. He posted a chart with a rainbow outside of his thread twice.

I wouldnt call that "going around and hijacking threads".
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