Hi I m searching how on an intraday trade I can actually trade/recognize the sharks trades so to avoid them or trade with them. Any ideas?
athan00, Everybody has a different way to trade...for me personally it is very hard to sit glued to the screen and trade manually. Longer time frames mean wider stops too! Try the EA titled SVOS EUR/JPY D1 here in EliteTrader http://www.elitetrader.com/vb/showthread.php?s=&threadid=211326 and get used to not trading so often. It just got through bagging 4% in a little over 7 hrs in the trade. Let me know how you like it... ES
thanks for your answer. Although it doesn't really answers to my question. Also I really do not trust EAs. To be honest I ve never used one. The only way of using an EA would be to create my own and so trust it.
I am not sure I understand your question. I think you are eluding to the fact that retail traders in Forex do not "move" the market (s) and you want to recognize when the big players are "moving" the market (s)...correct? ES
Thanks for your quick reply. Yes this is exactly what I m researching the last few days on the net but I think that the only way to find out is either to ask a more experienced trader or find a "shark"...
So what are you looking for...? Oh Hello, I am a shark...I will archive here for you and the hundreds of other readers how to exactly beat me at my own game...I will archive here the exact times that I will place my staggared trades BEFORE I do it. ES
hehehe you really made me laugh (I mean it in the good way). You re right about that. All I m saying is if there is a way of understanding how to avoid sharks traps. I suppose the only way is the useall MM etc. I m already trading for 3+ years. It is just that every day I keep discovering something new in fx and so try to research it and if usefull adapt it. Thats all.
athan00 I suspected that you traded for a while as your query was a rather educated one that might come from an experienced trader.... Don't the banks graduate their trades as to not reveal what they are doing? Similar to the Futures market when the programs kick in... MT5 will have DOM...This will help. ES
Wallace, Maybe athan00 can answer...but I think it is one of two things...the bank runs up the price because they have an order from a bona-fide hedger/exporter who places an order by telephone with his bank at the trading desk for the end of the day...and he gets filled at a bubble price so to speak... The other scenario...the bank needs to get long...and they drive the price down with selling pressure to reverse...they have the money to make the price go where they wish. (this is why a trend may be stair-stepped) anthan00 if I got this wrong correct me please... ES P.S. There is also the London Fixing...I don't quite remember all of that enough to explain...I knew it once though...see what happens when you get old...