A warning to would be Forex traders

Discussion in 'Forex' started by Joab, Jan 6, 2007.

  1. bgp

    bgp

    I'M BIGGER THAN FXXXX :cool:
     
    #21     Jan 6, 2007
  2. achilles28

    achilles28

    At one point, fxstreet reprinted excerpts of the Bank of International Settlements Triannual Survey on the Forex Markets

    In it, total speculative activity as a pecent of daily turnover was estimated at 95 percnt
     
    #22     Jan 6, 2007
  3. I am curious...are retail traders exposed to this liquidity with their dealers/marketmakers?..el Cid?

    FragmentedSavant

    Let's say the published "advertised" reports are correct and the market trades appx $1.5 trillion a day.
     
    #23     Jan 7, 2007
  4. #24     Jan 7, 2007
  5. Chood

    Chood

    My guess, which is not uninformed, is that a single act of wiring money home by a guest worker (Germany to Turkey, for instance) is more involved in the foreign exchange market, and has more influence on it, than all the trades of any 100 customers of a fx retailer.
     
    #25     Jan 7, 2007
  6. Chood

    Chood

    The above explains the famous advertising campaign of a well-known moneygram biz.: “Play with the Big Boys in Forex, Wire Your Dough Here.”
     
    #26     Jan 7, 2007
  7. romik

    romik

    In which case it would be normal for a chart to look like this (on all time frames) and if they did, then I couldn't argue with you, but they don't.
     
    #27     Jan 7, 2007
  8. notouch

    notouch

    Looks like EUR/GBP to me...
     
    #28     Jan 7, 2007
  9. romik

    romik

    Unfortunately a sideways market can be present in FX, same as in commodities, equities, etc. But if you look at the monthly chart, recent sideways observed on daily is simply a pause, is it not?
     
    #29     Jan 7, 2007
  10. notouch

    notouch

    "Convergence" is a prerequisite to the UK adopting the Euro which is the government's aim so we can expect the range to narrow until we say goodbye to GBP.
     
    #30     Jan 8, 2007