ok cool, good luck with your trading and thread. I had no intentions on it getting carried away.
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I have three books and I talked to a lot of traders. Some were critical, some were telling me that I've done a good job. Trust me, I know almost all the types of reactions people may express to someone's work. No matter if it is a book, trading course or just a forum thread.
Monroe, probably our conversation went the wrong way which is not good for anybody. I'm sure we both have so much to say about the forex market, but I really have to write a new book if I have to explain why the trading is different than before and what exactly have changed.
Monroe, probably our conversation went the wrong way which is not good for anybody. I'm sure we both have so much to say about the forex market, but I really have to write a new book if I have to explain why the trading is different than before and what exactly have changed.
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well, sorry about sidetracking your thread, after all it is yours. It was only at first to comment about Asian Sovereigns. take care.
well, sorry about sidetracking your thread, after all it is yours. It was only at first to comment about Asian Sovereigns. take care.
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The biggest problem with the forex market in the last few years is the almost everybody is trying to achieve some non-economic goals by manipulating the currency pairs. During 2006/7 EURUSD was going north on the beliefs that the EZ is decoupling from US and will not be hit by the coming recession. One of the major buyers were Chinese sovereigns. Everybody knows what happened during and after 2008. Probably it is coincidence that China became exporter number 1 at that time. Today Cihnese FX official warned against excessive holdings of USD assets. This is like a joke keeping in mind that China is buying European junk bonds.
The biggest problem with the forex market in the last few years is the almost everybody is trying to achieve some non-economic goals by manipulating the currency pairs. During 2006/7 EURUSD was going north on the beliefs that the EZ is decoupling from US and will not be hit by the coming recession. One of the major buyers were Chinese sovereigns. Everybody knows what happened during and after 2008. Probably it is coincidence that China became exporter number 1 at that time. Today Cihnese FX official warned against excessive holdings of USD assets....
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yes, I know what you're saying. But has that really changed? it's always been a game of insiders and manipulation, at least in the short/medium term, as far as I know of FX. China holds massive reserves.
yes, I know what you're saying. But has that really changed? it's always been a game of insiders and manipulation, at least in the short/medium term, as far as I know of FX. China holds massive reserves.
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Absolutely, but the manipulators are more active in the last few years. I don't trade USD/JPY anymore. It was the best currency pairs but after a periods of carry trade and risk aversion its chart looks like a mess.
The biggest problem with the forex market in the last few years is the almost everybody is trying to achieve some non-economic goals by manipulating the currency pairs. During 2006/7 EURUSD was going north on the beliefs that the EZ is decoupling from US and will not be hit by the coming recession. One of the major buyers were Chinese sovereigns. Everybody knows what happened during and after 2008. Probably it is coincidence that China became exporter number 1 at that time. Today Cihnese FX official warned against excessive holdings of USD assets....
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I think the chinese are not after a financial gain here, but after control. The guys who control the debt are the ones who ultimately control everything.
I think the chinese are not after a financial gain here, but after control. The guys who control the debt are the ones who ultimately control everything.
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While trying to take some power they are making money at the forex market. Germany is their No1 competitor at the export market and with the strong euro they make some room for appreciation of the renminbi.
Hi William,
Sometimes the price may go up but 2-3 ticks up will be followed by 1-2 down and the distance between the consecutive ticks would be 3-4 pips. This means for me that someone is trying to push the market up but is meeting strong resistance from sellers. Probably some videos will be more useful to explain what I mean exactly.
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What do you mean by "distance between the consecutive ticks would be 3-4 pips"? Did you mean SECONDS?
Brokers' dirty tricks. This one is widening the spread during even minor data releases. I didn't suspect that they will do it for the Germany trade balance.
Hi Srmfx, I tried to make STE trade from 20 EMA, what do you think about my attempt?
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With STE, as it is with TTE, your first target should be the nearest swing hi or lo. In your case the distance is only 5 pips which is too small. I'm looking for at least 10 pips. Also my entry is not only at 20 or 50 EMA. I have some additional filters and the best one is PA.
Do you always do STE only on 1-min chart? I successfully made STE trade from 5-min chart (see below), but on 1-min chart price went way lower than both EMAs... Sometimes price is crossed 1-min chart EMA, but on 5 min chart it only approaches EMA. How do you deal with this ambiguity?
