Elliott Waves discussion 4 replies
Euro/Dollar discussion 9 replies
DislikedThere are some important issues, (for me at least) which I want to point out and discuss with other traders. Let's start with the issue of forex itself.
By whom is forex market driven? A common sense for all traders on this subject is that market is driven correctly. (answer doesn't correspond to the question, ain't I correct?) SO BY CORRECT FOREX FORCES? OR FOREX FORCES which are always right? Can we say about trading such sentence: Trading is not about sum of money in your account, it is about your brain which is situated in your head (HEHE). Can we do that? Of course we can't!!! The sad truth in fact is that it is and was and will be about sum of your money in your account. Let's propose that 95% of the operations in the market are speculative by it's goal. It means that, actually market is speculative. Speculative driven by people like me, you and other forum members (How powerful are we ) but can't we be sometimes wrong?
By whom is forex market driven?
Main question at the moment. I hope I will hear some clear discussional answersIgnored
ff is just quiet during the weekend
ok By whom is forex market driven?
my answer is not by us
but by people like us with stronger leverage and capital
check the DJIA chart below
I 100% can't believe that the movement during the 1980s era was caused by small traders like us here.
If we check carefully, from 1960 - 1980 the index was just idling at around $900 on average. suddenly after 1980 it was shot up amazingly and that move was started almost the same time with the great commodity depression era.
average people like us here would never had the idea that the stock market would ever reach 14000, not during the 1960 - 1980. no indicator of any kind will predict that. average people would probably started to buy 1 - 2 years after the index started to move up.
the market is moved by the same group who made massive selling of gold and oil on 1980
those are the same group responsible for the Asian crisis (check the USD/THB chart on 1990 - 2000), black Wednesday, etc
OK so far I only speak about the big, major movements, however I still believe smaller groups who also responsible for large sum of money still making the same speculative buy/sell in order to have our indicator to confirm the buy/sell every day and every hour
I'm talking about hedge fund managers, bankers, central banks, institutional traders etc.
so don't follow the Feds
don't follow BoJ
follow those big boysIgnored
Dislikedforgive my ignorance but how exactly do we follow them???Ignored
DislikedDoes this mean that we are all ants on a log floating down a river?! We are all running as fast as we can not getting any where. LOL Really in all seriousness I AGREE with you, there is alot to say for your comments. I am going to take a few days and see if I can pull any examples myself from real time markets to see if I may add to this thread. ThanksIgnored
DislikedIt's not driven by the OTC market [the one we particpate in.]
In my feeble mind the movements consists primarily of banks moving money around. This might be for companies like Apple making payments to China for all those iphones, imacs etc. China doesn't want another stinking dollar so Apple has to convert dollar to yuan to pay off those poor saps putting all those iphones together.
This is only one part of the equation... buying or paying for goods and services.
Another part is all these rich people hopping on these flying tin cans...Ignored
DislikedYour post is really appreciated and I feel really well from what point of view you are coming out, however doesn't dollar get purchased a lot as well? If it only would be big players trying to get rid of the dollar then I am assuming that price chart would like a straight line up and all of us would be sooooo happy
Don't you have to buy dollar in order to invest in government bonds etc. or even like if you are interested in investing in stock company which is traded on nyse? I know american bonds and treasury papers really suck but hey, people...Ignored