Shrinking Market

Hello All,

Can someone let me know what is going on with the markets?

I first started FOREX last November. I seem to remember that when I took my course, the trading ranges were more like 100 pips a day in the NEW YORK market. Now we seem to get the moves but they are few and far between and many occur in the middle of the night.

Is this just a silly "good ol' days" type of thinking and the market is the same and it's just me? Is it just the summer? Am I wasting my time with day trading (i.e. and should cash in all my time spent studying and start studying long term charts)

Regards,
Agent2005

How many markets do you monitor and how many trades do you typically look to put on during a day?

Steve

Remember that on the same planet we are living on, we have completely different seasons in the northern hemi, and the southern one. Also remember that while some countries or cities are experiencing calm, nice and sunny weather, others are experiencing storms and Tsunamis, in which everything is moving at extra fast speed. That's the same as the market and the pairs. Sometimes, all the pairs would be quite, but this is rare. Other times, you will see stormy periods in some pairs, while others are quite. That's how it goes on. Trade different pairs if you have the time to understand and analyze many pairs at the same time, you will always see good opportunities in the market somewhere.

Thanks,

Nader

Hi,

I generally moniter the Pound and Euro (which at the time had more then enough opportunities between the both). To be honest with you, I haven't really monitored the other's much.

Does any one have any suggestions for good pairs or crosses for 5/15 min chart trader?

I have a theory about the increased choppy-ness of FOREX. With the boom in the FOREX industry there is a big influx of small retail traders involved and a lot of them are trying to daytrade or scalp currencies. Plus with all the new broker/mm's trying to take advantage of these short-term traders, it creates a lot of wild short term swings and chop and less longer term trends and of course narrower daily ranges. It's sort of like what happed in equities during the wild daytrading times of the 1990's, especially in the NASDAQ stocks. Anyway, that's my theory.


JohnFX