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EURUSD 6E Euro
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EURUSD 6E Euro

  #2181 (permalink)
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rassi View Post
interesting. Thanks Chris.

are you swing trading? If so the macro economic factors would def be worth considering imo. However its up to you if its worth tracking the positions of retail traders

Remember retail can win and professional can lose.

Hi Rassi,

I'm not a swing trader, I just recently switched back to higher time frames. I would like to use fundamentals but it's way over my understanding of the market (anything more than interest rates) - I'm on my way but it will be a long one. As to retail positioning you're completely right, but more often then not retail looses - even if it is 55% of the time I got 5% more chances to have a successful trade and in my head it's all about the odds. May I know what do you use to form an opinion or bias?

Thanks
Chris

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Consistency over time
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  #2182 (permalink)
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chr1s View Post
Hi Rassi,

I'm not a swing trader, I just recently switched back to higher time frames. I would like to use fundamentals but it's way over my understanding of the market (anything more than interest rates) - I'm on my way but it will be a long one. As to retail positioning you're completely right, but more often then not retail looses - even if it is 55% of the time I got 5% more chances to have a successful trade and in my head it's all about the odds. May I know what do you use to form an opinion or bias?

Thanks
Chris

sent from phone

hi chris. To me the term smart money seems better which could be pro or retail. Remember most fx trading volume is by banks and is nondirectional in its nature.

personally i like multi tf fractals and price action to base trades from

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  #2183 (permalink)
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rassi View Post
nondirectional in its nature.

Hi ,
what do you mean by "nondirectional" ? care to explain a bit.

because, from what i know ;

"According to the economist Bernard Lietaer, author of The Future of Money, as recently as 1975 roughly 80% of foreign exchange transactions involved the real trading of a product or a service. The remaining 20% were speculative; bets made on the value of currencies going up or down – buy it before it rises, dump it before it drops. By the late 90s that ratio had changed dramatically. In 1997 the percentage of foreign exchange which involved transactions in the real economy was only 2.5%.

Today, the picture is even starker. According to the Global Policy Forum, in 2011 only 0.6% of foreign exchange could be traced to genuine international trade in goods and services. Of the rest, a minimum of 80% was directly attributable to exchange rate speculation. The ratio of mud to brick has reversed entirely."

The rise of money trading has made our economy all mud and no brick | Alex Andreou | Comment is free | The Guardian

Thanks.

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  #2184 (permalink)
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Thxo View Post
Hi ,
what do you mean by "nondirectional" ? care to explain a bit.

because, from what i know ;

"According to the economist Bernard Lietaer, author of The Future of Money, as recently as 1975 roughly 80% of foreign exchange transactions involved the real trading of a product or a service. The remaining 20% were speculative; bets made on the value of currencies going up or down – buy it before it rises, dump it before it drops. By the late 90s that ratio had changed dramatically. In 1997 the percentage of foreign exchange which involved transactions in the real economy was only 2.5%.

Today, the picture is even starker. According to the Global Policy Forum, in 2011 only 0.6% of foreign exchange could be traced to genuine international trade in goods and services. Of the rest, a minimum of 80% was directly attributable to exchange rate speculation. The ratio of mud to brick has reversed entirely."

The rise of money trading has made our economy all mud and no brick | Alex Andreou | Comment is free | The Guardian

Thanks.

Interesting article. Had not seen that before thanks!

I was thinking of banks hedging each other as well as positions across multiple asset classes. Im sure you could learn more about this from tiger trader as hes the pro here for that stuff. Anyway as long as it adds to your decisions in a positive way its a good thing!

Please continue to post trades and analysis!

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  #2185 (permalink)
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so far an inside day

Its an inside day so far as the market is waiting patiently for the news... I am currently short. Placed stops above yesterday's high to (hopefully) keep them out of any fireworks.
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  #2186 (permalink)
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no trading from me, but doesn't mean I cannot look at some charts it's big news tomorrow so anything can happen but at the moment (2am GMT+1 London) my thinking is:

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people think of 1.0600 as a pullback (shorts as target)? trapped shorts are there so it's all about how much pain they can take if this goes a bit down and then up?

all the best
Chris

Consistency over time
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  #2187 (permalink)
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good potential for a bounce now

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  #2188 (permalink)
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Hmmmm ... ...

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  #2189 (permalink)
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Thxo View Post
Hmmmm ... ...

in 5 min - Trade Balance (Feb)
in 40 min - German 10-Year Bund Auction

12:45 EUR Interest Rate Decision (Apr)
13:30 EUR Press Conference

What's your target?

cheers
Chris

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  #2190 (permalink)
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chr1s View Post
in 5 min - Trade Balance (Feb)
in 40 min - German 10-Year Bund Auction

12:45 EUR Interest Rate Decision (Apr)
13:30 EUR Press Conference

What's your target?

cheers
Chris

Hi,

Yes i agree, Today is very risky day ...
Given the situation, i already closed 1/2 position @ 15 pip, and locked the rest @ BE.


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