Gbp/usd

[Unreal]

Hi,

Can anyone give me an estimate how high and low this pair goes on average per day is it over or below 100 pips per trading day?

 

[iota]

Use ATR for an answer I think.
So if you punch in 30 for the period and your on a daily chart you'll get the average movement in pips for the past 30 daily bars; so effectively you're looking at how much movement on a daily basis for the past 30 days.

On my MT4 it shows as 115 pips average for the past thirty days.

Don't really use indicators, but I think I'm right. Sure someone more helpful will be along shortly.

 

[traderman1]

Use ATR for an answer I think.
So if you punch in 30 for the period and your on a daily chart you'll get the average movement in pips for the past 30 daily bars; so effectively you're looking at how much movement on a daily basis for the past 30 days.

On my MT4 it shows as 115 pips average for the past thirty days.

Don't really use indicators, but I think I'm right. Sure someone more helpful will be along shortly.

You are correct.

 

[Unreal]

So for each different pairs of currency is it the same approximately or a huge difference. I want to know why most people trade the major 4 pairs is it because of volatility?

 

[shadowninja]

Don't really use indicators

Is it really an indicator? It's just a measure of average sizes of bars to save you doing it manually. I don't think it could be conceivably used as an indicator to take a trade although I expect some monkeys out there are using it without understanding it.

 

[shadowninja]

So for each different pairs of currency is it the same approximately or a huge difference. I want to know why most people trade the major 4 pairs is it because of volatility?

Volume and spread. I wouldn't want to trade something that is crazily volatile but then I'm a coward.

 

[Dubai]

Is it really an indicator? It's just a measure of average sizes of bars to save you doing it manually. I don't think it could be conceivably used as an indicator to take a trade although I expect some monkeys out there are using it without understanding it.

Ive seen various people use ATR for their stops and targets which isn't a bad thing.

 

[shadowninja]

Ive seen various people use ATR for their stops and targets which isn't a bad thing.

Agreed, but it isn't an indicator in the way others use stochastics and macd. I admit I'm being a pedantic arsewit, though.

 

[Chartsy]

Agreed, but it isn't an indicator in the way others use stochastics and macd. I admit I'm being a pedantic arsewit, though.

nah i agree it's like saying the OHLC information is an indicator....crap analogy but ye' know

 

[shadowninja]

Exactly. Or the clock in the bottom right of Windows.

 

[iota]

Only here could someone somehow disagree after I post a correct answer to a question.

 

[traderman1]

Is it really an indicator? It's just a measure of average sizes of bars to save you doing it manually. I don't think it could be conceivably used as an indicator to take a trade although I expect some monkeys out there are using it without understanding it.

I disagree. It is an indicator of the average volatility of the currency pair for each 30 days (or whatever time frame you use).
It is an valuable indicator of how large your SL should be for each pair.
And I am NOT a monkey :cheesy:

 

[shadowninja]

I disagree. It is an indicator of the average volatility of the currency pair for each 30 days (or whatever time frame you use).
It is an valuable indicator of how large your SL should be for each pair.
And I am NOT a monkey :cheesy:

You've just agreed with me!!!

 

[shadowninja]

Only here could someone somehow disagree after I post a correct answer to a question.

Nobody's disagreed with your suggestion to use ATR.

 

[wackypete2]

Only here could someone somehow disagree after I post a correct answer to a question.

Solution: Stop posting good answers and stick to the lulz

Peter

 

[traderman1]

I admit I'm being a pedantic arsewit, though.

Another thing we agree on. :cheesy: