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This thread was started in response to the Analytic:
GBP Trade Index 18-Year Chart
Daily GBP (British Pound) chart of 18 years of cyclical developments in finance & politics
http://www.spiegel.de/international/europe/0,1518,676634,00.html
I never said when I make money that its because of me, I always have felt that this is a market full of fraud and if I made money, it may be some fundamentals which the fraudsters could not break.
Out of 24 hours only 5-6 hours is real trading or a genuine trading, rest of the time its mostly dealers chasing after the accounts and trying to panick an investor and testing his patience, if they have stops set, then run those stops and if they have limits just do not brush those limits.
Ashraf you said about volatility in 1980, I agree. At that time market may not have this many participants, so higher volatility. Forex market is growing, hence the volatility is decreasing as well.
If this market is not full of fraudster then why is CFTC regulating them? There are numerous complaints and also being a software engineer, I suspect that is the case. I can not guarantee it because I do not have source codes, but it is easily trackable that this happens.
Ashraf, you did say that forex dealers chase out wek buyers and I have seen the big movements happen during the time when the volume is really thin or when some data comes in or rumour is created. I think all these should be investigated. For example the rumour of yesterday about Greece being saved, from where it originated, who originated it and who benefitted from it.
I asked for your opinion on oil in the 'VIX, Oil, BRICS...' post, but seems you don't visit that. So, what do you think?
Asad
Good Day
after the Bank of England Quarterly Inflation Report
What do you Expect about GBP \ USD
Thank you for Ansar
Does EUR/JPY have room to stay in high 123 levels which coincides with 23.6% retracement levels off its extreme high/lows of this calendar year? EUR/USD on a 23% of the Nov peak would in 1.39 levels? With these EUR/JPY and EUR/USD looking topsy, hard to see how far it will go before it sends out panic / fear to anyone with existing shorts below current levels. There are other short-term headwinds ahead for the longs just as well as those on the short... Comments?