Who prefers GBP/USD to EUR/USD for intraday trading, and why?
Well, maybe i am not following you, but as long as i understand, price patterns will work perfectly in the middle to long therm, to follow those trends you must be aware of fundamentls.
Intraday is working in the very short therm, so no fundamentals can and will work at all. Som may dissagree in this consideration.
Maybe what you meant is price action, in such case i totally agree with you, but even working with price action you need at least to make some draws to find potential S/R levels to avoid peaks and bottoms. For the rest, you are right.:innocent:
if data releases such as interest rates or gdp to name a few are off expectations which happen fairly regularly; then short term and long term trends can change rapidly. in other words, ignoring fundamentals will result in traders that ignore it being trapped on the wrong side of the trend both short term and often enough on the long term as well.
you are contradicting yourself by stating fundamentals are of no use with short term analysis yet you utilise a news feed to keep an eye on fundamentals in case of a surprise!
Hey Guys,
Naturally price action is a present indicator.
Support/ Resistance are potential leading indicators.
Fib. levels are leading indicators as well.
Any organized study - indicator supplied by a charting company
or service- has to be a following indicator- at all times.
What may be confusing is that a strong following indicator
does demonstrate most times a strong 'follow-through ' of
the price action.
It's like a car going at 100 km/hr- when the brakes are applied
you and I know it will slide for a distance before completely stopping.
So, now that we know this- is the challenge: how much will the price
follow through on the trend-following signal( such as: Stochastics, or MACD) ?
I like the open range method.
I also use the MA crossover - retracement method I use.
Remember to do this in SIM and do NOT do ANY back testing.
Live trading(SIM or REAL $$)- in the present moment
- is the only way to test your method.
Cheers,
G.
Naturally price action is a present indicator.
Support/ Resistance are potential leading indicators.
Fib. levels are leading indicators as well.
Any organized study - indicator supplied by a charting company
or service- has to be a following indicator- at all times.
What may be confusing is that a strong following indicator
does demonstrate most times a strong 'follow-through ' of
the price action.
It's like a car going at 100 km/hr- when the brakes are applied
you and I know it will slide for a distance before completely stopping.
So, now that we know this- is the challenge: how much will the price
follow through on the trend-following signal( such as: Stochastics, or MACD) ?
I like the open range method.
I also use the MA crossover - retracement method I use.
Remember to do this in SIM and do NOT do ANY back testing.
Live trading(SIM or REAL $$)- in the present moment
- is the only way to test your method.
Cheers,
G.
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Ok, you got me...., call me liar if you want, but in my experience those news can - and most of the times will - freeze my blood in my veins....., it is better to know what will happen. Anyway, i trade both ways, Short ang Long TF´s.
When intraday i have to know what will happen to try to be out of the markets when important events take place.....
"Show me a graph and i´ll tell you the news"
mvtrader2000
Active member
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I have traded Cable for quite a few years. I also trade the Euro. Both do tend to follow the same basic pattern but Cable often makes bigger pip moves than the Euro. You definitely need a wider SL with Cable and that can obviously affect money management and RR ratio.
Which is best? The one showing an impulse move.
In regard to Fundamental analysis, there is I think a general misunderstanding.
The market often prices in certain factors. If the news release is in line or close to expectation, then fine....the fundamentals were priced in. If on the other hand, the release is way different to expectation, then the news release can easily move the market.
I always use streaming news while I trade. I do not trade the news, but if something happens unexpectedly, I want to be able to react very quickly.
I also want to know if any of the muppets are talking their currency up/down.
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Tradernopoly
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im not really a big fan of trading EURUSD i mean, generally speaking, EURUSD is the only currency that has an equality of sentiment continuously...there is this indicator that appears on IBFX CONNECT service (by the way this is a fantastic way to contact other traders) and it shows that the frequency of trades/sentiment of traders Shorting EURUSD and LONG EURUSD is exactly the same...So how do you establish a trend or significantly, sentiment. How do you determine a retracement level or extension pattern forming if at the pivot point of the Retrace/Exten it doesnt go according to your plan...More so i feel that EURUSD tends to be laggard at times...i think. based on what i have experienced, EURUSD is fantastic for those news junkie traders...GBPUSD has a fantastic way of truely testing the ability of the trader to make informed and correct unemotional decisions based on thier plans approach...
GBPUSD second to none....If you disagree..Please be nice
GBPUSD second to none....If you disagree..Please be nice
