whats happening in August 2009??? | Forex Factory

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whats happening in August 2009???

  • #1
  • First Post: Aug 7, 2009 3:07am Aug 7, 2009 3:07am
Hello Guys,
1. Can anyone tell me what is going on since this month started. If am not wrong volumes have plummeted and markets are ranging. I have had to shelve my trending strategy and developed a ranging/scalping one. Is it true that August is a slow month? I read something to that effect in a forum and guess I didn't take it seriously.
2. To be a professional trader, must you learn to trade in all conditions and in ALL markets!!??
Anyone?
  • #2
  • Aug 7, 2009 3:34am Aug 7, 2009 3:34am
mmmmmmmmmmm...


holidays?
Nihil inimicus quam sibi ipse Marcus Tullius Cicero
  • #3
  • Edited 4:09am Aug 7, 2009 3:47am | Edited 4:09am
Quoting rufusbucks
Hello Guys,
1. Can anyone tell me what is going on since this month started. If am not wrong volumes have plummeted and markets are ranging. I have had to shelve my trending strategy and developed a ranging/scalping one. Is it true that August is a slow month? I read something to that effect in a forum and guess I didn't take it seriously.
2. To be a professional trader, must you learn to trade in all conditions and in ALL markets!!??
Anyone?
it depends, look at GBPUSD. It's trending on smaller TF. To be a professional trader u must have a basket of currency pair in your hand to sub those which doesn't perform.

My advice for you is to switch to GBPUSD
  • #4
  • Aug 7, 2009 4:24am Aug 7, 2009 4:24am
It's summer, they said that people are vacationing, including traders. Many professional traders said that.

It's always happen during July - August till perhaps mid Sept.
It is annoying, but what can we do. It' s always happen every year.

Wait till after first Friday of Aug, if there's news (best or worse news), there should be some significant movement.

Cheer up... it's happen every year ...The summer I meant.
  • #5
  • Aug 7, 2009 4:40am Aug 7, 2009 4:40am
Quoting onewithzachy
It's summer, they said that people are vacationing, including traders. Many professional traders said that.

It's always happen during July - August till perhaps mid Sept.
It is annoying, but what can we do. It' s always happen every year.

Wait till after first Friday of Aug, if there's news (best or worse news), there should be some significant movement.

Cheer up... it's happen every year ...The summer I meant.
wow it's your first post.
  • #6
  • Aug 7, 2009 5:44am Aug 7, 2009 5:44am
Quoting onewithzachy
It's summer, they said that people are vacationing, including traders. Many professional traders said that.

It's always happen during July - August till perhaps mid Sept.
It is annoying, but what can we do. It' s always happen every year.

Wait till after first Friday of Aug, if there's news (best or worse news), there should be some significant movement.

Cheer up... it's happen every year ...The summer I meant.
Yeah I agree its the summer, dont worry. In order to be a pro, you have to have an open miind and be flexible to changes otherwise you wont survive for very long.

G
  • #7
  • Aug 7, 2009 6:09am Aug 7, 2009 6:09am
I can't speak for the rest of the trading world, but here in the US, in an effort to prevent fraud, employees with "business critical functions" must take a continuous two week vacation once a year. The reasoning is that if nothing changes regarding how business is run, then there is no fraud going on.

Most of them take it in June-July, I'm not entirely sure why August volumes are lower than normal.
  • #8
  • Aug 7, 2009 6:48am Aug 7, 2009 6:48am
Quoting Ronald Raygun
I can't speak for the rest of the trading world, but here in the US, in an effort to prevent fraud, employees with "business critical functions" must take a continuous two week vacation once a year. The reasoning is that if nothing changes regarding how business is run, then there is no fraud going on.

Most of them take it in June-July, I'm not entirely sure why August volumes are lower than normal.
Same deal in UK. August tends to be peak holiday season over here too as school's out for the entire month.
  • #9
  • Aug 7, 2009 9:10am Aug 7, 2009 9:10am
The current daily ranges are still higher than they were for all of 2006, 2007, and 2008. The market isn't slow, it's returning to normal. A lot of new traders haven't experienced a "normal" market.

It's going to get slower so you may as well unbuckle your seatbelts.
  • #10
  • Last Post: Aug 7, 2009 1:00pm Aug 7, 2009 1:00pm
Where are you getting your info that volume has dropped off?
I have heard many different times over the years that August is a hard month to trade because of volumes.
The last 5 yeas it hasnt been bad to trade in august.
Just looking at cables daily chart looks like it hit a peak and is backing off some now, wheather that means in will go into a range is yet to been seen.
still volital look at usdjyn or cbpjyn today.
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