I wouldn't waste my money on a book just watch them for a little and see what happens. Watch the sp minis, the 30 year t-bills and the yen. Look how they react to support and resistance points. Right now if the 30 year tbill hits support the euro will usually be at resistance.
It changes a little depending on the market.
The eurchf is also good because the swiss bank will sometimes sell or buy euros which makes the eurusd jump around.
I guess the real point is just knowing the market and who is leading the market. Right now the EURUSD is the leader of the market. If it goes up or down everything reacts
I wouldn't waste my money on a book just watch them for a little and see what happens. Watch the sp minis, the 30 year t-bills and the yen. Look how they react to support and resistance points. Right now if the 30 year tbill hits support the euro will usually be at resistance.
It changes a little depending on the market.
The eurchf is also good because the swiss bank will sometimes sell or buy euros which makes the eurusd jump around.
I guess the real point is just knowing the market and who is leading the market. Right now the EURUSD...
Ignored
I think you are a very inteligent person, but unfortunatly not every is as inteligent as you. Others have to read, attend classes, listen to seminars & webnars to understand trading.
The guy above is a avarge guy as most of people in FF, why don't you guide him how to become like you?
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Joined Mar 2010
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Status: riding the currency train
|481 Posts
i just like reading other peoples ideas on the subject im researching. i am watching all the markets and seeing how they react with each other while im doing this i read books to further my knowledge.
daniel you seem to have some knowledge on intermarket relationship anything you can share with me to help in my studies?
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Joined Mar 2010
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Status: riding the currency train
|481 Posts
what im having most trouble with is working out wich markets are inter connected i know gold and aud cad and oil eur and gold i think but any others i cant find
what im having most trouble with is working out wich markets are inter connected i know gold and aud cad and oil eur and gold i think but any others i cant find
regards damien
Ignored
I'm not that smart. I just watch and listen to the news and stuff. I'm learning too. The chart that was posted was helpful but there is a lot more detail than that. The oil and eur once moved in the same directions but I think that this trend is broken right now because of the debt worries in eur. The basis for the oil eur correlation is a weak dollar. Right now, even though the dollar has gained strength against the eur, there aren't really strong dollar fundamentals. If the dollar was strong then the usd/jpy would be closer to 100. It is near 90 right now. I trade off 1m charts. I tend to watch the eur and sp mini along with the 30year t-bill futures. If there is resistance in the sp mini and support in the 30tbill then the eur will hit resistance as well and break support lines. The hard part, this isn’t true every day. An example of this would be on the 1m charts about 30minutes before Friday’s us retail sales were released. You can see the sp mini hit resistance and 30tbill support as well as the eur hit resistance. I hope that helps
More and more info won't get you very far in Forex in my opinion - when you say 'intermarket relationships' I see this being the same beast as correlation which by wikipedia defintion say 'In statistics, correlation and dependence are any of a broad class of statistical relationships between two or more random variables or observed data values.'
So what I'd say you always end up doing is analysing random variables which is exactly what a currency price quote is, what is the value in analysing randomness ?
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Joined Mar 2010
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Status: riding the currency train
|481 Posts
random variables which is exactly what a currency price quote is
there is a lot of people who will beg the differ on this me included currency price isnt random its far from it. and what do you mean more info is not better you mean the more i know about my chosen path the worse i get that doesnt even make sense? where i come from you know reality the more i learn about something the better i get at using it or the more i know about it.
Consider this - what effects the price? People changing currencies, companies dealing from country to country, whims, psychology, an earthquake, an oil leak, weather too hot, weather too cold, all pretty random stuff wouldn't you agree?
The price is then a representation of all those random events put together, even more random?
The more you learn - well from my experience I became profitable after I ditched 95% of everything I learned and took up a quite a simple approach.
Quantum theorists will argue the more you learn the less you understand! I see forex very much the same!
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Joined Mar 2010
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Status: riding the currency train
|481 Posts
ok i agree to disagree i think the more you learn the more you know what i posted here was for books on intermarket relationships or some help in this feild as im new to this area and need direction
