DislikedEurJpy was one of the pairs Clay traded on the original thread. By his rules, one should trade it mostly during the overlap period, from Frankfurt open to Tokyo close. And you could also overlap some before and after if there is decent movement during that time.
I don't see Usd/Jpy mentioned very often. The typical advice for beginners (which would include myself) is to pick a pair and stick to it. It's good advice (and advice I should follow more than I do).
The big exception to this idea of sticking with one pair, I think, comes from looking...Ignored
- #4,710
- Apr 7, 2011 11:05am Apr 7, 2011 11:05am
Wow today have been pretty messy so far, ton of news events made EU and GU virtually untradeable(at least for me). Thankfully the aussie made much more sense. This is AUD/USD bounce off 1H's 35, entry at pinbar of 5 min, exited at RN for +24.
Very similar to yesterday's GU:nerd:...
Very similar to yesterday's GU:nerd:...
- #4,713
- Apr 7, 2011 6:34pm Apr 7, 2011 6:34pm
i didnīt take this trade. it was just an example for the importance of the higher timeframes =)
I'm thinking of something in the past day's and what to share it.
If the big banks are almost always profiting from Forex and are the main opposite side for the trades, then aren't they targeting our stops to take us out and to make profits bigger. I have some observations, that if a big option barrier, or big stops are gathered somewhere, then the price goes this way, until most of stops are hit, and the major side of retail investor take the other side of the trade, then the price goes the other way.
You can see the oanda trade flow charts, for the positions taken in USDCHF, you will see that more than 3/4 of all retail traders are long, and the pair is heading north like crazy...
I'm speaking of this for a more long term trades than the usual choros, but it is always good to know where the big frame is going right?
I would be pleased if some of the experianced traders here think of the mentioned above and say their thoughts...
Thanks and sorry for the long post.
Better to lose opportunity, rather than capital !
I'm glad that you didn't take that
I'm thinking of something in the past day's and what to share it.
If the big banks are almost always profiting from Forex and are the main opposite side for the trades, then aren't they targeting our stops to take us out and to make profits bigger. I have some observations, that if a big option barrier, or big stops are gathered somewhere, then the price goes this way, until most of stops are hit, and the major side of retail investor take the other side of the trade, then the price goes the other way....
Forex doesn't work quite the same way. I forget the names, but the regulators break Forex into three categories. First there are the big boys: the banks and the hedge funds. Then there are the commercial and institutional players, including insurance companies, other big corporations and so on. Finally, there are the retail customers, like you and me. But in Forex, the dumb money is the commercial money. Retail traders actually tend on balance to do pretty well, and it is the mid-size trader that is getting fleeced from both sides. I don't know if there is a day to day way to make use of that knowledge. I think Ponsi said there were some reports that would give some clues as to where the commercial money was going. But I forget what those clues are.
- #4,717
- Apr 7, 2011 9:44pm Apr 7, 2011 9:44pm
Thank's duffypratt for the time spared to think and write down the post. It cleares some of my thoughs a bit.
I'm waiting for others suggestions also, so don't be shy
I'm asking in this thread, becouse i know that here are gatherd good traders, that are making pips and are also helping each other. Thank's to all of you!
I'm waiting for others suggestions also, so don't be shy
I'm asking in this thread, becouse i know that here are gatherd good traders, that are making pips and are also helping each other. Thank's to all of you!
Better to lose opportunity, rather than capital !