FOREX PRO Weekly November 26-30, 2012
- Thread starter Sive Morten
- Start date
At Oanda they claim that they also have institutional investors as customers. But this is the link, it's free and it's updated every 20 minutes. ttp://fxtrade.oanda.com/analysis/
Then there is a service on dailyfx.com. You go to Dailyfx plus and there they update it twice daily and it's free for people that hold a fxcm account. They call it the SSI indicator (Speculative Sentiment Index). They publicize it twice weekly on the daily fx (whereas at Dailyfx plus it's twice daily.)
Hope this was of help.
sincerely
Mjunkyard
FreddyFX
Sergeant
- Messages
- 510
Some of my colleagues in trading the EU seem to forget that the hedge funds are enormous manipulators and in a thin marker as we had the later part of the week, it was easy to play a trick on everybody.
My guess is we will tank heavily and suddenly and am staying short orientated with positions that are not part of my scalping techniques.
My guess is we will tank heavily and suddenly and am staying short orientated with positions that are not part of my scalping techniques.
You could look it up on fxdaily.com. Look for the SSI indicator. I don't have that much explanation. They have a video there. The education that we're getting here from sive is so much more valuable. It's just another small indicator to maybe add to your tool box. I personally feel that Joe Dinapoli's explanations on fibnodes etc. work very well with explaining the retailers psychology. Basically what I'm trying to say is that at certain levels retailers give up and then the market could continue going in a certain direction.
See, the market can't work if there won't be anyone on the side. Hence, 98% get slaughtered. The 2% pay the salaries of the 98%. Because they are the ones that buy from the 2% selling and vice versa. It's the only way the market could work. That also the reason for pullbacks. Joe says it pretty clearly when he explains drpo in his book. It's very interesting to point out that almost always new traders claim that the market went a certain way JUST as they sold. I used to think that it's false. But now I think it's true. Trading is psychology. And that's exactly what Sive is teaching us here with these levels.
There are also some good books out there on contrarian trading.
Just my 2 cents.
Mjunkyard
Dear Freddy
Your last line is most probably the most dangerous line for a trader. It's starts with the word "guess". And then it says "I'm staying short oriented". You might be right but as traders we need to be flexible with changing our perspective based on the markets not our feelings. Heaven forfend it goes to 1.38 now, you might get slaughtered. The markets are unpredictable and the art is to go with it's flow, not outsmart it.
I hope you don't mind me telling you this. I want to get a conversation going on this. This is from my experience. Ask all the people that we're sure that the Yen simply cannot go under 100 with their tanking economy and their no interest rate policies.
Just my 2 cents.
Mjunkyard
What do you guys think?
stelore
Sergeant
- Messages
- 156
Hi everybody, if it'll help I also watch this (sentiment from MT5.com)
Sentiment Meter (Buy/Sell) For Various Pairs
Just remember to reload the page to have the last quotations.
I hope It'll help.
Stefano
DumbAsArock
Private, 1st Class
- Messages
- 32
Leon Petrus, I feel your pain. I've lost thousands of dollars and pulled a lot of hair out of my head experiencing the same things you've described.
mjunkyard, I agree hedge funds can have an influence on the market.
However, the sad truth is the markets are rigged.
Yes, the market reacts positively to good news and negatively to bad news. But so what? It doesn't last.
Think of retail traders and hedge funds of having a total bankroll of $1. Now if the market goes up or down ten cents it can have a devastating affect.
Think of centralized banks and marketplaces of having a $100 bankroll. Is that ten cent swing relatively all that significant to them? The answer is, "No".
In fact they manipulate the price forcing stops then swoop down like vultures gobbling up whatever carcasses they can find.
Fundamental and technical analysis become almost meaningless when you step back and look at the big picture.
It reminds me of the old poker adage, "If you sit down at a poker table and don't see a sucker, guess what? You're it."
The best we can do as retail traders is hope to pick up a few crumbs. We're never going to get a slice of the pie. Our pockets aren't deep enough for that.
mjunkyard, I agree hedge funds can have an influence on the market.
However, the sad truth is the markets are rigged.
Yes, the market reacts positively to good news and negatively to bad news. But so what? It doesn't last.
Think of retail traders and hedge funds of having a total bankroll of $1. Now if the market goes up or down ten cents it can have a devastating affect.
Think of centralized banks and marketplaces of having a $100 bankroll. Is that ten cent swing relatively all that significant to them? The answer is, "No".
In fact they manipulate the price forcing stops then swoop down like vultures gobbling up whatever carcasses they can find.
Fundamental and technical analysis become almost meaningless when you step back and look at the big picture.
It reminds me of the old poker adage, "If you sit down at a poker table and don't see a sucker, guess what? You're it."
The best we can do as retail traders is hope to pick up a few crumbs. We're never going to get a slice of the pie. Our pockets aren't deep enough for that.
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I think that what we're learning here from Sive is how to join the big banks and not act like the retail investors that get slaughtered time and again.
Synchronicity
Sergeant
- Messages
- 182
Some interesting discussions but...
LeonPetrus
Losing two months profit in four hours is nothing to do with the markets behaving differently from Sives analysis.
If you had the correct trade size and your stops set in the right place then it would have just been one losing trade which would have cost whatever your maximum risk per trade was.
Mjunkyard
I didn't have a "miserable failure on Wednesday". I had a losing trade. I've had lots of those and plenty of winners too. My system has an edge which if traded correctly means that I will make a profit overall. Losing trades are a natural part of that system and tight money management is essential!!!
As recommended by many here, have a read at Trading in the Zone by Mark Douglas
All the best
Michael
LeonPetrus
Losing two months profit in four hours is nothing to do with the markets behaving differently from Sives analysis.
If you had the correct trade size and your stops set in the right place then it would have just been one losing trade which would have cost whatever your maximum risk per trade was.
Mjunkyard
I didn't have a "miserable failure on Wednesday". I had a losing trade. I've had lots of those and plenty of winners too. My system has an edge which if traded correctly means that I will make a profit overall. Losing trades are a natural part of that system and tight money management is essential!!!
As recommended by many here, have a read at Trading in the Zone by Mark Douglas
All the best
Michael
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