With US elections and oil exporter negotiations coming up, there is a powerful volatility expected. In the face of these events, it would be interested to know, how many of you would risk and dare to trade? To make it clear, I suggest to share here your thoughts, whether you're going to trade, which currency pairs are expected to be juicy and, what tactics and tips you can suggest. Hope this thread will be useful for all of us :-)
Gonna watch close at GBPUSD, based on what I see, it's likely to be bearish. Technically, there are all hints for selling, though I won't do anything long-term. Today's news should boost bear-movement.
theHand posted: If you have to sit this out then you don't have good systems. I'm hoping all hell breaks lose to be honest, worse it gets better I do.
I think you're not totally right. More clearly, you're totally wrong, since those who trade using technical analysis are not able to predict the market's reaction to the US president election results. So I am one of those who won't risk and will wait some days before and after elections.
And I have pointed out in several threads here exactly how useless technical analysis is. People who beat that drum and then wipe out should really not be surprised.
Technical analysis an age where computers are crunching numbers like the clappers and can do high volumes of repetitive tasks is like throwing chicken bones to determine where on mars we should land.
It's a exercise in futility. Just look an a 4 hour chart of of GbpUsd, what could technical analysis do with that spike ? I must have flipped my Gbp position something like 10 or 20 times on that. I don't even know many times it was, it doesn't matter, all that matters is that I was on the right side eventually.
Where does technical analysis come into a spike generated by nothing, that lasts for 5 mins ?
You are sitting out the most profitable markets around mate. I can't wait for the poop to hit the fan. Love it. Worse it gets better I do.
steingood posted: very good moment for trading during next weeks more volatility, more profit. this is ma opinion
I cannot fully agree with you steingood – on one side you are right, but the same applies for losing. Everything you trade during a high volatility market should be considered really well at first. Unless you want to risk everything you have on your account :) Cheers!