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Opinions on ESMA & Financial Markets

NottsBlade
Jul 05 2018 at 12:41
75 ieraksti
Check this out and see how algorithms are trading against us!!! Total disregard for trend lines, averages and technical indicators. Turning the markets into a casino!!! Totally goes against all logic and common sense!!!



Matt (BluePanther)
Jul 05 2018 at 14:43
1354 ieraksti
NottsBlade posted:
Check this out and see how algorithms are trading against us!!! Total disregard for trend lines, averages and technical indicators. Turning the markets into a casino!!! Totally goes against all logic and common sense!!!


The reason I prefer bidirectional trading strategies that don’t rely on technical analysis.
Or perhaps you have a bucket-shop broker manipulating price feed?

5astelija
Jul 05 2018 at 15:06
54 ieraksti
Lol that's EURCHF
For technical analysis to work, you need to trade an instrument that is popular among other trades. EURCHF is just a modified version of EURUSD and USDCHF - a version with very much noise and no technical opportunities.
Trade EURUSD for better technical reliability, but the random noise will surely be still there, especially on lower timeframes.

Matt (BluePanther)
Jul 05 2018 at 15:20
1354 ieraksti
5astelija posted:
Lol that's EURCHF
For technical analysis to work, you need to trade an instrument that is popular among other trades. EURCHF is just a modified version of EURUSD and USDCHF - a version with very much noise and no technical opportunities.
Trade EURUSD for better technical reliability, but the random noise will surely be still there, especially on lower timeframes.


Random noise? EURCHF is definitely a manipulated pair - has everyone so soon forgotten the Swiss NB peg to the Euro, which eventually collapsed in January 2015? https://admiralmarkets.com/analytics/traders-blog/price-shock-when-the-swiss-national-bank-unpegged-the-swiss-franc-from-the-euro

Don’t think for a second what China does, does not also occur with other currencies. Although the SNB doesn’t hold a hard peg officially, they have a certain monetary stance, as do all central banks, and all currencies are manipulated as best as the respective central banks (The Fed, Bank of England, etc.) can achieve, considering their limited resources compared with the total daily forex volume of $6 trillion per day.

NottsBlade
Jul 06 2018 at 06:35
75 ieraksti
Anybody trading S&P 500 or oil check out the above charts

NottsBlade
Jul 06 2018 at 06:35
75 ieraksti
Don't you realise our futures, our livelihoods the health of our economies are in the hands of Artificial Intelligence because bankers haven't got the time, resources or common sense to sort it out themselves and it's small retail traders like us who are paying the price. Back to Pre Thatcher days when the market was closed to the masses.

One electronically driven market maker has a daily turnover of $120bn and has less than 100 employees. What does that say about the future and how can that be justifiable.

City Of London will become a ghost town just like our city centres!!!

NottsBlade
Jul 06 2018 at 06:36
75 ieraksti
I'll tell you the truth and this may startle you, but I think it's too late. We've lost control of the algorithms in the financial markets and we can't stop them now, there's no way of controlling them. They are out of control and will continue to get out of control and be uncontrollable!!!


I heard a small voice that said there was no way to stop them now!!!

ComebackKing
Jul 06 2018 at 06:48
37 ieraksti
Firstly your charts are a mess. Are you seriously looking at a 1 minute chart of EURCHF?

Secondly, there are plenty of examples in the charts you posted where support and resistance are well respected. The last chart you posted, for example. The longest blue candle (June 29), this shows an imbalance of buyers at that price level with very little order flow on the other side of the book. You'd expect at least price to stall at that level once it gets back there, provided not too much time has passed or something in the fundamentals of that market have changed. Low and behold on July 2nd price did get back to that level. What happened? Price held, bulls returned to buy around that price. On this particular chart the same thing happened on June 22/25/27.

This stuff ain't rocket surgery. Find where the buyers and sellers are, find where price is attractive to the bulls and the bears, find where price imbalance is likely to be and trade it. All of that other **** you have on your charts is just getting in the way. Get rid of it.

Forex itself is a rigged market. You are seeing what your broker allows you to see. If you have any sort of volume, it's not the total volume of a particular pair across all brokers, it's the volume at your brokerage. FXCM got nailed for taking the other side of trades of their clients. They paid a giant fine, but do you think they actually lost money? Hell no. The fine was just the cost of doing business.
 That's why they don't operate in the US market anymore. You don't want a rigged market or a rigged system then stop trading FX. Otherwise, realize what it is and work with or around it.

https://www.financemagnates.com/forex/brokers/breaking-cftc-levies-7m-fine-fxcm-forced-quit-us-market/

Lastly, you will get absolutely nowhere blaming other people and other things. When you do this you fail to acknowledge your own faults. EURCHF can be traded profitably. If you can't trade it without losing money then that's your fault, not the boogyman's.

NottsBlade
Jul 06 2018 at 06:48
75 ieraksti
You watch all the big market moves happen following the start of ESMA's new rulings!!! Everything will start moving and start trending big time!!!


Probably won't now cos I've said something!!!

NottsBlade
Jul 06 2018 at 06:50
75 ieraksti
Small retail traders who have dedicated years to learning are being robbed by these new rulings and as I keep saying it is just another ploy by the rich few to keep it in the hands of the few. If you don't wear their tie you can't be in their club!!!

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