Forex Newbie Help

Discussion in 'Forex' started by asdfghj7, Nov 6, 2007.

  1. I recently began watching a few of the Forex markets. The one that stood out was the EUR/DKK (Euro/Danish Krone) I viewed this market on a daily and weekly chart from and Trade Navigator from Genesis. I've attached them to this email. Both data providers show the EUR/DKK to have the most unique personality of a market that I've ever seen. When looking at either timeframe, its a very tight channel that only has very smooth movement. Almost like a winding trading channel that cannot be broken out of for more than a day, before it comes right back. It almost looks like a Tick or Ticki chart. I then downloaded software from CMC, OANDA and a few others, to view the EUR/DKK. The market makers charts of EUR/DKK do not look like the same market compared to Navigators and Barcharts. Its a huge difference. I would attach the markets makers pictures as well, but I don't know how to save their charts. Are the Navigator and Barchart prices real at the high and low extremes? I would greatly appreciate anybodys wisdom on the matter. Joshua
  2. This is the second picture from my previous inquiry
  3. Lucrum


    At first glance, except for a bad tick on the navigator chart last month, the data looks more or less the same to me. I think what your seeing as "different" is just the difference in the price scales of the different charts.
  4. Thank you very much for answering this inquiry. I wish I could send the CMC or Oanda charts to compare with the Barchart version and Trade Navigator version that I sent, but I dont know how to copy their pictures. The CMC and Trade Navigator charts for this market are much more narrow and much more vertical. Its unmistakable. Every brokerage charts for this market don't have this type of movement. What I wanted to do was buy the breakout to the downside of each previous day and then hang on until it came back to the daily open. It would have been profitable everytime, but I'm not quite sure that barchart or trade navigator are showing real data. I have'nt found any other charts online for this currency pair that moved in the same way.
    I know this market is not the most liquid of currency pairs, but if there was liquidity at these two extremes, then I'd be set. Do you think these price extremes really happened. I'd be all over this in the futures market where I could see volume, but being new to forex, I need advice from someone who is'nt trying to sell me something. I would honestly appreciate constructive or destructive critisism. Thanks again