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Currency Futures

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  #1964 (permalink)

Tampa, FL
Trading Experience: Beginner
Platform: NinjaTrader, Sierra Chart
Broker/Data: Mirus Futures/Zen-Fire
Favorite Futures: 6E, M6E, 6J
Xav1029's Avatar
Posts: 1,374 since Dec 2011
Thanks: 1,452 given, 3,363 received

Jedi View Post
Yes, that's correct but DX is the most influential of the currencies. I don't think its a substitute for news but when there's no news, I think what's going on with DX might be the next place to look. Currencies have all kind of global macro stuff tied to it in one big web so its really hard to pin point exact catalysts.

I'm still pretty new to trading currencies but another trader that is very good at it told me DX is the most influential as everything is tied to it and it makes sense.. My thoughts on currencies is that its not centrally traded and the resources of the traders/governments is so huge that its hard to use tools like delta, volume and etc though I use those tools on other instruments.. I currently sim trade currencies with a method that is taught to me by another currency trader that is good at it.. trying to see if I can get it to work for me..

@Jedi what do you think of creating a synthetic dollar index that does not use the EUR/USD cross but has the same proportionate weights as the DX excluding the Euro. Then it would be less of a self fulfilling prophecy...

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