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  • #361
  • Jun 23, 2014 3:02pm Jun 23, 2014 3:02pm
Quoting skfx
You'll need volumes merquise. Passive=maker Aggressive=taker Without volumes how can you measure the above in terms of trade? Spot gold/silver chart, can you see big money? No Trying to extract money from a chart alone will have you sitting at the bottom %'s. Trading spot you're trying to solve a complex problem without having the most important piece of information. We are little, they are big.If you know what you are doing,you can see them coming a mile away. With your current tools trading spot, you cannot see them. Rgds
So, you aren't just one of the stock, raving lunatics that roams FF...(although you hide well behind being a bit of a smart ass...I can appreciate that)...

Very nice to see!!

My apologies to you, and my thanks to merquise for following up.

Looking forward to seeing whatcha got!
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #362
  • Jun 23, 2014 3:09pm Jun 23, 2014 3:09pm
Quoting Magix
{quote} So, you aren't just one of the stock, raving lunatics that roams FF...(although you hide well behind being a bit of a smart ass...which, in all honesty, I can appreciate)... Very nice to see!! My apologies to you, and my thanks to merquise for following up. Looking forward to seeing whatcha got!
Lol.No need to apologise Magix.I appreciate your humility.
I feel the same about forums myself, mainly a frustrating affair at best.
We'll get there though.
Have a good one matey.
Rgds
  • #363
  • Edited 3:30pm Jun 23, 2014 3:10pm | Edited 3:30pm
I have tried following the currency futures charts to see if there is some obvious relationship ( like, futures yesterday and spot today). I found nothing I could use of any value. (www.finviz.com -> then futures, charts, currencies). More helpful is their group of charts on metals. When they go up, you can look to see the commodities currencies doing well.
When you consider volumes, you should be aware of the diurnal effect: There is a lot more money in the market at some times than others. A big order at some times is not so big at others.

Look to the timing of scheduled news events: They time them so that they reach their respective markets ( read here big players) most effectively.

There are 8 hours a day when neither currency is the focus of a market, and the pair comprising the two is usually quiet. This is especially so with the gbp/usd. After 3:30 pm e.s.t. it is usually comatose, and any activity there should be considered highly suspect.

Oh, and don't waste time trying to read the impact of the news. Watch the market instead. It can move quite the opposite way that the news indicates.

Do be aware that when someone has a need to acquire a lot of a currency pair, the last thing they want to do is let anybody know about it.
  • #364
  • Jun 23, 2014 3:14pm Jun 23, 2014 3:14pm
Hi
Thanks for the post guys
it was really good informations
  • #365
  • Jun 23, 2014 3:14pm Jun 23, 2014 3:14pm
Quoting skfx
Think Swiss bank 1.20 cap. This happens everyday where huge players prop/cap prices.Youre not going to be able to see them on a chart. You'll then get smart traders front running these guys as they just sit there getting hit. We are all fed that chart bullshit from day one.What I can't believe is EVERYONE gets sucked in.Not only that there are some who are in denial.They just won't give it up.Charts have their place in trading, but it's a very small place. Rgds
Skfx, yes that's right...EURCHF is a good opportunity as of now because of cap at 1.20 so every time the price gets near that number it's a good opportunity to go long. But that's because you know where the big bank stands with their large buy orders.

When I first started to learn trading and TA one of my favourite systems was MA crossover with 10,20 MAs on H1 time frame but I was always curious why is it that it has less potential than when I see it on some stock chart. Well the answer was that beside them anyone trading that stock uses volume as a second guidance system to ensure that the signal generated by the MAs is valid.

On the other thing I always read that the TA was developed primarily for the centralized exchange markets..

On the other hand I always wondered why Options and Futures brokers don't allow Skrill and Neteller as alternative payment methods..banks in my country don't like to transfer money out of the country...a relic of goverment policy from the socialist era of the 80ies where it was prohibited by the law for citizen to have money in foreign banks and to transfer money out of the country..even today when you want to wire transfer the money to some broker they ask for invoice from the broker so that they can transfer the money..if I didn't translate it correctly it's like when one company sends another a written contract about the products that need to be paid in advance before sending them..

@Magix

  • #366
  • Jun 23, 2014 3:21pm Jun 23, 2014 3:21pm
Quoting Rap Skallion
Ihave tried following the currency futures charts to see if there is some obvious relationship ( like, futures yesterday and spot today). I found nothing I could use of any value. (www.finviz.com -> then futures, charts, currencies). More helplful is their group of charts on metals. When they go up, you can look to see the commodities currencies doing well. When you consider volumes, you should be aware of the diurnal effect: There is a lot more money in the market at some times than others. Look to the timing...
Hey Rap.
If you were big and I wanted to 'lean' on you, would I use a chart to do that?
What can I use other than a chart to track you down and 'lean' on you?
Prop firms won't let their traders even touch a chart till they hammer this game down by the numbers . There's a good reason for that.
Remember, I need numbers.
Rgds
  • #367
  • Jun 23, 2014 3:28pm Jun 23, 2014 3:28pm
Quoting Magix
{quote} So, you aren't just one of the stock, raving lunatics that roams FF...(although you hide well behind being a bit of a smart ass...I can appreciate that)... Very nice to see!! My apologies to you, and my thanks to merquise for following up. Looking forward to seeing whatcha got!
your own bullshit caught up with you there? were you not just saying he was a waste of time? you don't know what end to poop out of do you?
tradewith60
  • #368
  • Jun 23, 2014 3:32pm Jun 23, 2014 3:32pm
Quoting merquise
{quote} Skfx, yes that's right...EURCHF is a good opportunity as of now because of cap at 1.20 so every time the price gets near that number it's a good opportunity to go long. But that's because you know where the big bank stands with their large buy orders.
With the right tools merquise you can locate institutions with influence and trade 'with' them.Hell, they may as well just give you their prices they are working.
Confidence is a byproduct of capitalising on an understanding of what is going on around you.
Rgds
  • #369
  • Jun 23, 2014 3:34pm Jun 23, 2014 3:34pm
We all make mistakes guys, I'm the worst by the way.
Let's all cut each other some slack and get to making money.
Rgds
  • #370
  • Jun 23, 2014 3:35pm Jun 23, 2014 3:35pm
Quoting 60minuteman
{quote} your own bullshit caught up with you there? were you not just saying he was a waste of time? you don't know what end to poop out of do you?

I have no issues admitting when I am wrong...happens all of the time.

Unfortunately, I will never be offering you the same apology...not because I cannot be humbled...more so because you are one of the bullshit spewing trolls that have nothing to offer.
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #371
  • Jun 23, 2014 3:44pm Jun 23, 2014 3:44pm
Quoting skfx
{quote} With the right tools merquise you can locate institutions with influence and trade 'with' them.Hell, they may as well just give you their prices they are working. Confidence is a byproduct of capitalising on an understanding of what is going on around you. Rgds
Ok, one question... You can see where are the big buy and sell orders in currency futures? Can you use those numbers as some reference points for spot FX, no?
  • #372
  • Jun 23, 2014 5:22pm Jun 23, 2014 5:22pm
Quoting skfx
{quote} Merquise exactly, if currencies tickle your fancy. There are other products too. You must have size to be able to measure trade. Price charts are good for context and nothing more. You'll need two things to either reverse prices or continue them on: 1.Accumulation/absorption(props and caps) 2.Block hits above/below accumulation price If I told you that I was going to position myself in the euro today at some stage through London(I do not say at what price or when), would a price chart show you where I was entering? rgds
If a trader could know when/at what price DB and Citi are going to jump in, and the order mix they were processing, then that would indeed be significant information. If the idea is to "know" that DB and Citi were going to place big trades today, then that is much less useful. My trading charts (and anyone else who can analyze a chart) show me where bankers are likely to push their trading; anyone who can trade can ride their PA as they make their move. But, I am interested in hearing the next part of your story.
  • #373
  • Jun 23, 2014 6:07pm Jun 23, 2014 6:07pm
Quoting GEfx
My trading charts (and anyone else who can analyze a chart) show me where bankers are likely to push their trading; anyone who can trade can ride their PA as they make their move. But, I am interested in hearing the next part of your story.
Much as I have to agree with working off of charts only...there are still times when direction isn't necessarily clear.

Typically in these times, I flip to another chart instead of guessing...If i don't see what I want to see, I look until I do.

Having an alternate means of assessment...I am definitely all ears...or eyes as it were.
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #374
  • Jun 23, 2014 6:16pm Jun 23, 2014 6:16pm
Quoting Magix
{quote} Much as I have to agree with working off of charts only...there are still times when direction isn't necessarily clear. Typically in these times, I flip to another chart instead of guessing...If i don't see what I want to see, I look until I do. Having an alternate means of assessment...I am definitely all ears...or eyes as it were.

Current situation on EURUSD.

Support is Last weeks Retail close...but we are still below a resisted area...

There is ambiguity...if we break up, buy, break down, sell...

But who will win the tug of war?

Would Order Sizes assist in this and will market wait for London to break either direction???

I don't pick sides, not a price nor currency cheerleader, but would definitely welcome something else to lend perspective.
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd.png Size: 41 KB
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #375
  • Jun 23, 2014 6:28pm Jun 23, 2014 6:28pm
Quoting Magix
{quote} Much as I have to agree with working off of charts only...there are still times when direction isn't necessarily clear. Typically in these times, I flip to another chart instead of guessing...If i don't see what I want to see, I look until I do. Having an alternate means of assessment...I am definitely all ears...or eyes as it were.
Yep, completely agree and am looking forward to the rest of the story.
  • #376
  • Jun 23, 2014 6:48pm Jun 23, 2014 6:48pm
Quoting Magix
{quote} Current situation on EURUSD. Support is Last weeks Retail close...but we are still below a resisted area... There is ambiguity...if we break up, buy, break down, sell... But who will win the tug of war? Would Order Sizes assist in this and will market wait for London to break either direction??? I don't pick sides, not a price nor currency cheerleader, but would definitely welcome something else to lend perspective. {image}
Well, I assume that order sizes, or information that some how signals intent, can quickly be countered by the next layer that can appear to counter the observable data. Another bank could appear to counter a move (can only assume that they can see the same information that we are talking about), or a CB could step in, etc. Not saying that this information wouldn't fit in someplace, but by itself, not tradable. As your example of the E/$, would this info help explain E/$ movement today, or can we just assume, as is true with most Mondays, that the market is taking the day to set up trading for the next three days, which is clear to those who can read charts and do TA/FA analysis? But let's wait for the next chapter.
  • #377
  • Jun 23, 2014 6:54pm Jun 23, 2014 6:54pm
Quoting skfx
{quote} Hey Rap. If you were big and I wanted to 'lean' on you, would I use a chart to do that? What can I use other than a chart to track you down and 'lean' on you? Prop firms won't let their traders even touch a chart till they hammer this game down by the numbers . There's a good reason for that. Remember, I need numbers. Rgds

Understand that if I were big I would hide, hide, hide, my intentions, my very existence as far as possible.

Whatever you used to find me out, I would be devising ways to fool it.

Whenever you find out what I want to do, it gets more expensive for me to do it.

Big traders raise a fog of war wherever they can: It's their job to get what they want as cheaply as possible.

I agree, price charts are not a good way to determine where the big money is.
  • #378
  • Jun 23, 2014 7:07pm Jun 23, 2014 7:07pm
Quoting GEfx
{quote} Well, I assume that order sizes, or information that some how signals intent, can quickly be countered by the next layer that can appear to counter the observable data. Another bank could appear to counter a move (can only assume that they can see the same information that we are talking about), or a CB could step in, etc. Not saying that this information wouldn't fit in someplace, but by itself, not tradable. As your example of the E/$, would this info help explain E/$ movement today, or can we just assume, as is true with most Mondays,...
Other side of the coin is that everybody is reading the same charts and we are all trading off of the same thing...

The orders that may be visible are the same areas of supply and demand that the TA shows...

Kind of one of those, which came first, the chicken or the egg?

If this is the case...still may offer a little clarity if not confirmation.

Turns in the charts can be clearly visible to the trade session they are relevant to...so again, might just boil down to who is buying and who is selling?

It does lend credo to the direction of the session and the support off of daily roll prices.

If NY was long, support is NY daily close. If that's where the traders are viewing the support at, it would make sense that this is the place you would see support on a numbers level.

Bid stacks...of course, this too leads back to the L2..
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #379
  • Jun 23, 2014 7:29pm Jun 23, 2014 7:29pm
Quoting skfx
{quote} Prop firms won't let their traders even touch a chart till they hammer this game down by the numbers . There's a good reason for that
Well said. It's often overlooked that many of the big players don't even use charts when they start their careers (at least not in FX). Learning what these traders glean from the tape and the DOM can yield many good insights into how to use a chart properly .

They don't provide any real secrets that can't be learned through self-study, but learning how they "feel" the market helps slower learners like me.
I'm a dog chasing cars.
  • #380
  • Jun 23, 2014 8:03pm Jun 23, 2014 8:03pm
Quoting 60minuteman
{quote} your own bullshit caught up with you there? were you not just saying he was a waste of time? you don't know what end to poop out of do you?
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