pedro01
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Pipinit - are you associated with this site in any way ? 4 Squared Analytics
aye Pad, well I've always suspected McGuiness of still being in the 'RA but apparently we can't be right all the time,
ya wee fenian pryck ye
First, if you check out the M2 system post here on the strategies and systems board you will see that I go into quite a bit more detail.
As for getting news late ... forex is 24 hours a day, I don't understand how what you said can be the case.
As for important news releases ... that depends on the currency pair.
Non farm payrolls is a BIG one for the US.
Okay, here you go. I'll spare the details on what it is since clearly you know.
The forecast is for a very narrow expansion of "business conditions".
Generally, the actual has to exceed (or miss) the forecast by some amount to drive the market. This time however, with the last several US releases missing their forecasts, we saw quite a bit of risk aversion trading.
If the actual numbers miss, more likely than not, we'll see risk aversion increase yet again and EURUSD move down.
If the actual numbers hit the forecast, or exceed, more likely than not, we'll see an increase in risk appetite and EURUSD move up.
HOWEVER, what I just said is based on the risk appeitite/aversion moves we've seen lately.
It is slightly less possible that we'll see some "normalcy" in the market after so much risk aversion during US trading lately. That would mean the actual missing forecast would push EURUSD up and the numbers beating forecast would push EURUSD down.
However, my own personal bet right now is for risk appetite/aversion to end up ruling the day.
I wouldn't trade on that until I saw what was going on in the hour leading up to the release.
Any idea what will happen if ISM comes in weaker than expected say around 47.5 and pending home sales figures are higher than expected say +3%?
What happened this morning wasn't far off from that. Take a look and see what happened.
ISM came in weak, but not that weak. And the pendings came in VERY strong.
Pending home sales boosted by govt stimulus.
And there are MULTIPLE global economics and governmental finance folks who are openly questioning if the boost will hold now that the stimulus is ending.
no - it's the same guy - I signed up when he started to see what was going on - hence my post abt 4squared
He started out at babypips with some crap system he called the dasiy chain witha free trading room where he said there were no strings attached.
2)He wrote a crap a-s-s trading report .... you may so so waht lots a people write their own ebooks and reports and 99% of them are crap BUT this guy specifically mentioned "I've used adult language so if ur offended easily do not read it"
He started out at babypips with some crap system he called the dasiy chain witha free trading room where he said there were no strings attached. Then he cam out with an advanced trading room where he supposedly taught you to make more pips for urmmmm a modest monthly fee of $200
A few weeks later came his mentoring programe for over $1000 for a few months to be taught how to trade just like the professionals do
A week later we were sent special discounts to his upcoming seminar ............ special time limited discounts for his students.
He started out at babypips with some crap system he called the dasiy chain
Someone beat me to the punch. Probably because they had links in their post it looks like the post got deleted, but the point was still valid.
Technical indicators lag the market. They ALL lag the market.
Worse, because they lag the market, with preciously few exceptions, by the time your favorite indicator, or set of indicators gives you the green light to place a trade, the OVERWHELMING likelihood is that most of the best movement has already happened.
Basically, you're getting in LONG after the movement has already started.
The only way to get in BEFORE the movement has started is to understand what causes the market to move in the first place.
Instead of keeping you guessing, let me tell you what makes the market move.
1) News
2) Order activity by major institutions
3) Order activity by governments
And that's it.
The absolute BEST way to trade the major movements is by first understanding that those three things are the ONLY three things that make the market move enough to matter.
If you like, I will continue this post, explaining EXACTLY how to trade the major moves.
However, I'll only do it if some folks say that they're interested.
No sense in me spinning my wheels covering something if no one really wants to hear it.
So, if you want more, reply to this post and let me know. (edit: more is now added, see below)
edit: I'm also thinking about doing some live trading sessions where I show you LIVE how to trade this way. Anyone interested in that let me know also.
lHi. I am new to forex trading and I am still demo-trading.I enjoyed your post & would ike to know where I can get more info regarding trading without indicators.Thank you.