I am confused. I have been a member on another forum for some time and been looking and lurking here for a while and to be honest, am confused, shocked and amused.
1: Volume
This one really gets me... For a start, metatrader covers only that brokers volume. Esignal on the other hand, 'covers 300 brokers'. Yet, their own website states its only a proportion of the market. I don't know what the general concensus on this site is for movers of the market, but, IMO, the volume that matters (CB's, IB's and HF's) will not go through the brokers e-signal has data for.
Sure, you may be able to profit from it, but you aren't profiting from volume analysis or true VWAP. It's just impossible. It's like refereeing a football match only watching one half the pitch.
2: Naked trading
As traders, I am sure you have all seen 'wall street' and 'rogue trader'. At their disposal is the ticker, a pen, a pad and others reactions. Sure, we have charts now but volume, fibs and moving averages are not naked trading. Naked trading is price. That's it. Volume means squat in spot currencies and if you need a moving average you're too thick to be trading. As for fibs, yeah right!
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Whilst a member of the other forum, there was a member on an old thread for live calls on cable who came along, faded everyone's positions (their stops were his targets) and he raped the lot of them...
There seems to be very few pro's on here (bank or hedge or prop traders) to question and point out to members errors of their ways, so if I was to suggest anything, go over to t2w or elite trader, run searches for prop firm and bank traders, check out people like gammajammer and wasp (me); Trader_dante, TWI, and go back a few years and see the bigger picture and pro views.
If I were a newbie, that's just what I'd do here. Been watching and you don't even need a chart whilst watching the herd here (not exclusive to just here either).
I am sure I will get slated and asked to prove myself etc as I have only one 'voucher', which, I could if I have too through varying means but I would seriously like to know if someone could answer my confusion.
Just a view from a lurker new to here (but certainly not trading). In the meantime, thank you, your crowd behaviour, herd mentality and bad analysis provides the greatest indication of what position to take the opposite side of, so cheers!
1: Volume
This one really gets me... For a start, metatrader covers only that brokers volume. Esignal on the other hand, 'covers 300 brokers'. Yet, their own website states its only a proportion of the market. I don't know what the general concensus on this site is for movers of the market, but, IMO, the volume that matters (CB's, IB's and HF's) will not go through the brokers e-signal has data for.
Sure, you may be able to profit from it, but you aren't profiting from volume analysis or true VWAP. It's just impossible. It's like refereeing a football match only watching one half the pitch.
2: Naked trading
As traders, I am sure you have all seen 'wall street' and 'rogue trader'. At their disposal is the ticker, a pen, a pad and others reactions. Sure, we have charts now but volume, fibs and moving averages are not naked trading. Naked trading is price. That's it. Volume means squat in spot currencies and if you need a moving average you're too thick to be trading. As for fibs, yeah right!
-----------
Whilst a member of the other forum, there was a member on an old thread for live calls on cable who came along, faded everyone's positions (their stops were his targets) and he raped the lot of them...
There seems to be very few pro's on here (bank or hedge or prop traders) to question and point out to members errors of their ways, so if I was to suggest anything, go over to t2w or elite trader, run searches for prop firm and bank traders, check out people like gammajammer and wasp (me); Trader_dante, TWI, and go back a few years and see the bigger picture and pro views.
If I were a newbie, that's just what I'd do here. Been watching and you don't even need a chart whilst watching the herd here (not exclusive to just here either).
I am sure I will get slated and asked to prove myself etc as I have only one 'voucher', which, I could if I have too through varying means but I would seriously like to know if someone could answer my confusion.
Just a view from a lurker new to here (but certainly not trading). In the meantime, thank you, your crowd behaviour, herd mentality and bad analysis provides the greatest indication of what position to take the opposite side of, so cheers!
Ignorance, is blatantly, bliss.