EURUSD 6E Euro | Currency Futures


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EURUSD 6E Euro

  #1104 (permalink)

Quebec
 
Trading Experience: Intermediate
Platform: NinjaTrader wt Rancho Dinero's profiling tools
Broker/Data: AMP/CQG
Favorite Futures: ES, NQ, YM
 
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Posts: 3,853 since Oct 2009
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Thanks. My approach is to try to understand the underlying dynamics of the price movement. I want to understand how the market gets moved and what the real life events are that move price. It may be a fool's errand - it may, in fact, be better to not try to understand anything and just keep buying pullbacks until it stops working - but my opinion is that to gain a durable edge one must strive to have some insight into the actuality of "why" a trade worked or "why" it didn't. Thus my question about opinions of what happened ...

Don't look for a reason in technical or fundamental analysis or outside events as price is not a true representation of these things. Rather it is a representation of the sentiment of the crowd which is based upon flawed analysis of market information and irrational decisions. Price movement is based on psychology. This is where you'll find the actuality of "why" a trade worked or "why" it didn't. If you can spot on a chart where group of traders will be under stress or feel desperation or some sense of urgency to act then you may find "why" a trade worked or "why" it didn't.

"The most effective analysis is not analysis of price, but rather analysis of trader decisions" - Lance Begg

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