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  • #157,541
  • Nov 1, 2009 2:56am Nov 1, 2009 2:56am
Quoting Larseg
Hello Chicky, yes its interesting. Should have the same info from institutional banks also, that would have been great
That is the open position entry prices. It merely shows where are situated and how much at what price positions already open.

HERE

http://fxlabs.oanda.com/products/his...ve_EUR_USD.png

is the pending orders chart. this is so much more valuable

and

http://fxlabs.oanda.com/products/his...Dnoweekend.png

pending orders history.

So from this point of view it looks like buy don't it?
  • #157,542
  • Nov 1, 2009 3:01am Nov 1, 2009 3:01am
Quoting mmccormac
Does anyone know if there has been an event that would cause a market gap?

From XE.com:


http://www.xe.com/gen/images/clear.gif
Live rates at 2009.11.01 02:13:58 UTC...

There's no market gap. Price still 1.41715 where it ended the week. If those guys are so smart perhaps they'd be willing to buy some more dollar from you no?
  • #157,543
  • Nov 1, 2009 3:03am Nov 1, 2009 3:03am
Quoting mmccormac
Does fxstreet have live weekend rates? Most do not, the only one I knew of that offered buying/selling over the weekend was XE.com.
So sell, than as soon as Oanda opens buy back on oanda. Free money.
  • #157,544
  • Nov 1, 2009 3:17am Nov 1, 2009 3:17am
Quoting TheFisherman
So sell, than as soon as Oanda opens buy back on oanda. Free money.
Fisher, the information in mm's post is incomplete. It does not provide both Bid and Offer rates.

These are money transfer Mid-rate

Quote from XE.com

"The rates in our free information services are neither "buy" nor "sell" rates. Instead, they are mid-market rates derived from the mid-point between the "buy" and "sell" rates from global currency markets. Our free information services always list the mid-market rate because it indicates the value of a currency that is not weighted towards buying or selling.
"Buy" and "sell" rates include overheads and profit margins that are independently set by foreign exchange providers; their rates can vary a lot and will differ from the mid-market rate, so we recommend you shop around. To transfer money at the best buy and sell rates guaranteed......"
The Thief of Wall Street
  • #157,545
  • Nov 1, 2009 3:25am Nov 1, 2009 3:25am
Quoting TheFisherman
That is the open position entry prices. It merely shows where are situated and how much at what price positions already open.

HERE

http://fxlabs.oanda.com/products/his...ve_EUR_USD.png

is the pending orders chart. this is so much more valuable

and

http://fxlabs.oanda.com/products/his...Dnoweekend.png

pending orders history.

So from this point of view it looks like buy don't it?

Why do you want to see the pending orders? Open positions are the real deal... see how many that are actually in the trade.

Now check this out, Chicky pointed me to COT charts... This is very interesting... Think about all the guys with a margin call the upcoming week as we are diving further.... At least according too the COT chart.
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  • #157,546
  • Nov 1, 2009 3:43am Nov 1, 2009 3:43am
Quoting Larseg
Why do you want to see the pending orders? Open positions are the real deal... see how many that are actually in the trade.

Now check this out, Chicky pointed me to COT charts... This is very interesting... Think about all the guys with a margin call the upcoming week as we are diving further.... At least according too the COT chart.
I think blue box is the net position.
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Click to Enlarge Name: picture1.jpg Size: 60 KB
The Thief of Wall Street
  • #157,547
  • Nov 1, 2009 3:45am Nov 1, 2009 3:45am
Quoting Larseg
Why do you want to see the pending orders? Open positions are the real deal... see how many that are actually in the trade.

Now check this out, Chicky pointed me to COT charts... This is very interesting... Think about all the guys with a margin call the upcoming week as we are diving further.... At least according too the COT chart.
I think you are going a bit too far with the margin calls. Depending on your broker however margin calls can be already set as a pending stop order.

Most of the time a trader would have a pending limit and a pending stop order. That shows on a pending order's chart. If you will notice the charts I posted you will notice a big take profit/buy limit just above 1.46. You will also notice that there is buying pressure below as well as above the current price rate.

You will also notice from the open positions chart that there are more people long than short. That is due to the price going down. If the price would have been going up there would have been more people short. The reason is simple: traders close a winning position quick and let a loser run.

Now, you think and decide which one is most usefull. Here's the open positions history:
http://fxlabs.oanda.com/products/his...Dnoweekend.png


[EDIT] Of course these charts are useless since they come from just one broker.
  • #157,548
  • Nov 1, 2009 4:01am Nov 1, 2009 4:01am
Quoting TheFisherman
I think you are ..........
Fisher, do you have an idea, how often these position summaries help in judging the right direction?
The Thief of Wall Street
  • #157,549
  • Nov 1, 2009 4:10am Nov 1, 2009 4:10am
Quoting Chicky
Fisher, do you have an idea, how often these position summaries help in judging the right direction?
They do for me. Not open positions though. That is a "past" indicator while open pending orders is a "future" indicator.
  • #157,550
  • Nov 1, 2009 4:17am Nov 1, 2009 4:17am
Quoting TheFisherman
They do for me. Not open positions though. That is a "past" indicator while open pending orders is a "future" indicator.
Do they work most of the time? I mean 60%/70%?

I have never used these or COTs.
The Thief of Wall Street
  • #157,551
  • Nov 1, 2009 5:18am Nov 1, 2009 5:18am
Quoting Chicky
Do they work most of the time? I mean 60%/70%?

I have never used these or COTs.
I don't know. I found out about this Oanda feature from you or other about one week ago. I knew about the market sentiment from Dukascopy but that was shit.

I started paper trading for a daily strategy based on Oanda's stuff and so far results look like this:

Pedning profit US$: -56, marked profit US$: 43. All for a 2-3K $ account, using multiple minilots. We'll see at the end of november what's going on.
  • #157,552
  • Nov 1, 2009 5:21am Nov 1, 2009 5:21am
At critical times of market movements and sentiments it pays to take a step back and have a look at the overall picture, even when intraday trading.
Here is a chart of the USDX weekly showing where price, time, pattern and relative strength comes together to signal a market bottom and/or a likely turn.
I like to have a feel for where long term players may be positioning, so this chart is self explanatory.
The pitchfork has tracked the market top and the recent bottom and it's pointing upwards. Many trader watch the 20 ema, and I do also to gauge where a lot of traders may be queuing up to take a position or jump off the ride.
Next chart I will post will be the EU chart.
Attached Image (click to enlarge)
Click to Enlarge Name: US Dollar index-30th Oct2009-weekly.JPG Size: 89 KB
  • #157,553
  • Nov 1, 2009 5:35am Nov 1, 2009 5:35am
Quoting Atlast
At critical times of market movements and sentiments it pays to take a step back and have a look at the overall picture, even when intraday trading.
Here is a chart of the USDX weekly showing where price, time, pattern and relative strength comes together to signal a market bottom and/or a likely turn.
I like to have a feel for where long term players may be positioning, so this chart is self explanatory.....
Another indicator is EURGBP...
The Market pays you to be disciplined
  • #157,554
  • Nov 1, 2009 5:43am Nov 1, 2009 5:43am
Quoting mima
Another indicator is EURGBP...
are you a seller on that pair?
  • #157,555
  • Nov 1, 2009 6:05am Nov 1, 2009 6:05am
Quoting mima
Another indicator is EURGBP...
EG = EU/GU. To get more comprenhesion about one pair or other, try to analyse the others, specially main pairs, even you don't like to trade them. It's very Helpfull. Like EJ= EU x UJ etc. If both are up, the cross pair will go faster and vice versa. Correlation with Dow and S&P500 is very high with EU. Dow, SP500 down, EU down and vice versa. Everything is correlated in Forex (open stock exchange "London session, New york, Tokyo", crude oil, gold ..etc). One pair could not be analyzed separatly, since others got influence on it.
No Signal, No Trade. No fundamenals, No headache.
  • #157,556
  • Nov 1, 2009 6:45am Nov 1, 2009 6:45am
Quoting No Stress
EG = EU/GU. To get more comprenhesion about one pair or other, try to analyse the others, specially main pairs, even you don't like to trade them. It's very Helpfull. Like EJ= EU x UJ etc. If both are up, the cross pair will go faster and vice versa. Correlation with Dow and S&P500 is very high with EU. Dow, SP500 down, EU down and vice versa. Everything is correlated in Forex (open stock exchange "London session, New york, Tokyo", crude oil, gold ..etc). One pair could not be analyzed separatly, since others got influence on it.
Sir.
if commodity at the country raise on that day..izzit mean the $$ will drop?
  • #157,557
  • Nov 1, 2009 7:08am Nov 1, 2009 7:08am
and here is my roadmap on long term basis for EU.
Combined with the dollar index chart shown previously, it's fairly obvious which way the market wants to go. However, fundamentally we should not forget the driving force of the dollar weakness long term should play out , therefore, my favour is for the upsloping EU pitchfork to track the market longer term.
Gann fans and natural supply areas with ML should provide some nice position trades for long term players. This week should make for very good intraday trading.
Eurozone is in a new political climate, an anticipated second round fall in the stock market should play out, though interest rates is the one card left that the FED has yet to play.
On a shorter TF, the recent move down does not show great selling pressure. The market should take a breather before the next round.
Happy trading and don't forget your SL.
Attached Image (click to enlarge)
Click to Enlarge Name: EU-30th Oct2009-weekly.JPG Size: 70 KB
  • #157,558
  • Nov 1, 2009 7:35am Nov 1, 2009 7:35am
Quoting Atlast
are you a seller on that pair?
not yet...depends how pairs open on sunday...
The Market pays you to be disciplined
  • #157,559
  • Nov 1, 2009 8:24am Nov 1, 2009 8:24am
I've loved this poem by a long time. I adapted it for forex. Enjoy.

Note: some words in the poem I changed becaused I think they are not sounding good nowadays. I hope Kipling don't mind.

If you can keep your head when all around you
Are losing theirs and blaming it on you;
If you can trust yourself when all men doubt you,
But make allowance for their doubting too;
If you can wait and not be tired waiting,
Or, when you're lied about, don't deal in lies,
Or, when you're hated, don't give way to hating,
And yet don't look too good, nor talk too wise;

If you can dream - and not make dreams your master;
If you can think - and not make thoughts your aim;
If you can meet with Triumph and Disaster
And treat those two imposters just the same;
If you can bear to hear the truth you've spoken
Twisted by knaves to make a trap for fools,
Or watch the things you gave your life go broken,
Restart and build 'em up with wornout tools;

If you can make one heap of all your winnings
And risk it on one turn of pitch-and-toss,
And lose, and start again at your beginnings
And never breath a word about your loss;
If you can force your heart and nerve and sinew
To serve your turn long after they are gone,
And so hold on when there is nothing in you
Except the Will which says to them: "Hold on";

If you can talk with crowds and keep your virtue,
Or walk with kings - nor lose the common touch;
If neither foes nor loving friends can hurt you;
If all men count with you, but none too much;
If you can fill the unforgiving minute
With sixty seconds' worth of distance run -
Yours is the Earth and everything that's in it,
And - which is more - you'll be a forex trader son!
  • #157,560
  • Nov 1, 2009 8:28am Nov 1, 2009 8:28am
And back to EU analysis. If there's one thing one should think about it should be this: on daily bearish engulfing pattern (I think that's what's called). Think about it.


black is 50 SMA.
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