Shunting Locomotives
Forex Secrets – Delusion No. 2 – Who Prompts Trading Forex Traders
The delusion conceptually propounds that traders in a market spontaneous FOREX (as stipulated by B. Williams, A. Elder, E. Nayman, etc..) But this is not the case. Traders do their job in a well organized and controlled foreign exchange market, governed by the Consortium of the world's largest banks.
Therefore, pushing the currency up and down, which defines trends, corrective actions and apartments?
And, finally, places a tendency to a point where the majority of traders are happy think they have saddled the wave and are on the verge of winning a huge profit! Now! Do not be afraid! Do not close the post! Not just a minor advantage! Later we will discuss this kind of stupidity. Thus, it continues to go on despite profits of more degrading. Shortly, the loss begins to develop with the speed of light! Do you know the situation?
Well, that overthrew the rate?
Who typically uses exchange rates?
Tugging is certainly central. Compare quotes online from several distributors and banks to know their per second are the same. Do Dealers Act for each bank in synchronism such that even without seeing the other, they place orders the same if this quote is 100% right? Nothing is a miracle HERE!
Before further explanation, we will listen to Bill Williams, the learned FOREX (Trading Chaos, Ch. 6): "… we trace a pattern formation process. Previously, the market and place of negotiation of the contract constitutes a single physical space. The Most major grain traders focused on the "floor". Their orders amounts involved, just move the market, they have better control on the market today. During the last 20 years markets have grown worldwide. Now, not Only "Ralston Purina," "Kellogg" and other trade associations leading research coverage of their holdings of cash transactions. Thus, millions of young riders in the world and farmers, who compete with them in anticipation of changes in terms of grain prices? This fact also implies a strong potential for operators today, the trends are not built on the ground. The latter mainly provides liquidity in the market through the struggle against "the outer orders.
The fact that the trends of today are rather represent "outside the word "that" on the "floor, as before, allows us to trace trends over the volume of trade during his keys. Our only information Online check volume is limited, time and price. Check volume is a number of price changes by a certain period of time. It is not at all a number of contracts traded. Several studies have shown no significant difference between the actual volume and ticks. Using a tick volume, presumably, it represents the actual volume. This is a volume in real time, which is our key to what happens in "pits negotiation.
Two basic ingredients are organic Forex Trading: on the floor brokers and traders distance. Brokers are local staff, implementation of orders, thereby earning their salary and / or commissions. They have no money to be available to them. They are the performers. Their prospects are not overwhelmed by the prices they receive for order management.
Remote operators use their own money. They have to pay the price of their own pockets, unless they receive a voucher. Traders must be much higher in the skills brokers because they independently make their own decisions, while working for the broker to follow the orders of others.
distance traders are expected to support the market by taking his side. Generally, they are not at all mad in long-term transactions. Every few distance traders were participants in our private training programs, and it must be admitted that an operation time of 10 minutes can seem quite a long time for some them.
Keep in mind that trends are made up of orders delivered to the floor outside but not long positions by traders concluded at a distance. Since traders job is to take the opposite side orders from Outside, they have no prospect of negotiation between them. They take your money. We emphasize again that the volume of ticks is our key to understanding what happens in the forex market. distance traders do not contribute significant volumes to the negotiation, which could result from dealing with traders on the floor like. Trends in terms of new orders. That is why we want to be certain when and for how much the external command is provided to the floor. It is presented by a volume change check.
So we the traders are emerging as the Locomotive price, is not it? And the brokers on the floor just allocate and execute the order, coming home, do they? And April 1, 2005, they all (meaning: we all) have decided to rotate the trend and short-stay against all rules, news and common sense … I wonder if the scientist or not ashamed?
Regarding the quote above, I heard by chance one argument in favor of Bill Williams (I assume you have also this concern that I mentioned in detail): With respect to all markets ultimately, we read or use the above in Forex. Curiously, these are the arguments of lawyers from Williams, but not Williams himself.
This book is in fact intended for both the futures markets: Forex and market. This is why the pictures taken both markets are so mixed and the author never a distinction between the methods of technical analysis of it. Thus, whether the author does not draw any difference between the two markets, or he is not willing to reveal to the reader.
And neither in the preface or in the comments do Williams and his publishers refer the fact that something "Trading Chaos" is inapplicable to FOREX, and therefore should not be use that is made by a trader in the Forex.
I have repeatedly crossed the peculiarity of Williams (correct definition specific case method be extended to a larger scale details) and she actually asked me to write this book. In all and all, methods and advice, quite true and correct for some Forex market are claimed by Williams to be universal on all Forex market without being demonstrated when the top is effective and where it is not.
The same thing is done by opponents and supporters of Williams, who view the passage of Forex that his methods are used only. As various analysts and bibliographers Williams, retailers need a lot harder to make a line with the pro-Williams trade in one side thereof and with cons-Williams negotiation to the next.
Logically it is a question: what could be Williams added indicators in order to transform them into force at the place where they are currently ineffective (see details in the chapter on the Alligator Williams).
And now we return to the question that provides traders with forex rate quote, bearing in mind that it we, the merchants, carrying on the movement rates in accordance with the prospect of Williams. Millions of traders were actually studied FOREX under the "House of Trade" and it is really worth studying. This is one of the most interesting editions and informative which brings to repeat every time something new and useful.
However, in some passages it feels to be adapted measure. Williams is ignorant of the fact that there is no single exchange FOREX and there is no single place of negotiation or the floor? And Pacific Asian, European and American classification of the meeting is arbitrary?
Have you seen the exchange rate, Although there one day leave the U.S. with the banks closed? So I, too, who took his party in the United States for land trade on a day off?
Then, calling rates, which makes the trends and changes without any objective justification for the rate of turn and rushing in one direction, are not necessary all?
The answer, as provided by No. 11, 2002 "FOREX profiteer" magazine article by Nadezhda Larina "Electronic Systems broker the "foreign exchange market, http://www.ifin.ru/publications/read/351.stm), read:" … a case FOREX "Electronic Broking Services (EBS)" has very popular with the extra-exchange inter-bank forex market. It was developed by the Consortium of the largest banks participating FOREX trading in connection with "Quotron" firm of Computer and launched in 1993. Currently has 13 more World EBS banks market makers, namely: BN AMRO Bank, Bank of America, Barclays Capital, Citibank, Commerzbank, Credit Suisse First Boston, HSBC Bank plc, JP Morgan Chase and Co.Lehman Brothers, Royal Bank of Scotland, SE Banken, UBS AG with Japanese Minex Corp., created by a consortium of Japanese banks jointly with the company KDD Japanese telecommunications and Dow Jones Telerate.
EBS offers a fully integrated treatment services for the professional market interbank being a key interbank forex anonymous electronic exchange. It is currently used by more than 2,500 resellers in 850 banks in the world and a figure Business trade yields of about USD80 billion per day.
See again: "three biggest Forex – Citibank, JP Morgan Chase and Deutsche Bank with Reuters Group PLC) began in June Atriax system, one end of 2001.The operations in spring 2002, after having failed to bear competition.
Can you imagine a machine monster, capable of forcing the three largest banks in the world – Citibank, JP Morgan Chase and Deutsche Bank to abandon their business plans! Or able to reverse the EURUSD from 1.3660 to 1.1865 and then instantly execution of operators worldwide, up and running on foot! And then inside, April-June 2005, the purchase of the euro by merchants USD1.36, 1.29, 1.20, 1.19, etc.
Do you see the loss? Watch the Euro 1700 schedule pts after I bought at 1.36 … But perhaps there is no loss at all?
All the basic provisions Larina has actually found a confirmation 2 years later the UK Financial Times article by Jennifer Hughes: Occupying a floor PC "(see Financial Times 2004).
He stressed that during the previous 2 years, turnover has increased Consortia extra USD20 billion per day at present to $ 100 U.S. dollars which extends, while the trading platforms largest Internet to ensure the average of USD15-20 billion daily turnover.
Then, jump to certain conclusions:
1. The currency market is not the same as that used to be earlier, for example 11 years ago.
2. It is in fact "a fluctuation of prices on sameness" otherwise, offers practical similarity with brokers and traders worldwide.
3. The reason for the uniformity above has been revealed clear from the technological point of view, is the "band of electronic exchange technologies.
4. There is no mention of other reasons for similar levels to absolutely different Forex trading platforms in the world which connects the platform above and rates FOREX at them from financial organizational perspectives contract, etc.).
5. The great interest is the remark of "Financial Times" reiterating the changes exchange rate in recent years as narrated by an anonymous ex-drug dealer (?) that compares the exchange market as those 11 years ago: "It was a noisy hell and a hell beautiful! "
In his opinion the market has lost a significant part of his individuality with the rise of technology. A very interesting sentence: "It was hell" splendid. I would add: "It used to be hell" volatile, with reference the fact that the daily rate of travel has gone up from 400 to 500 pips. And there is nothing like today.
6. Now, why "The Financial Times that questioned the official EBS Consortium?
J. Jeffrey and the Director of the Department of Foreign Exchange, Fabian Shey Why is it unwilling to meet with representatives Reuters (United Kingdom)? What is the reason for this kind of disrespect towards fellow?
Or they have been hard to be contacted in London, where the Financial Times and Reuters staffs are also after the continuation to Currently both EBS and Reuters Consortium are dominant in the interbank market? And the Financial Times has enough information on compatriots Reuters to hold this meeting, the official EBS Consortium is sufficient without Reuters?
7. Please, pay attention to what follows by Financial Times: "Anyway, the opinions of others are available. Trenner According to Justin, the current volume of online transactions is the turnover $ 100 U.S. dollars per day with the strong growth. The Financial Times reveals his complete inability to recognize to track not only cash flow FOREX trading volumes but even these platforms.
The main difference between stocks and FOREX is also evident from the foregoing. Those, like writing about fundamental and technical analysis methods for markets, are either ignorant of fundamental difference in these markets, or they are deliberately swindling millions of merchants.
Where noted, that Furthermore the consortium of banks above, there are other electronic equipment contractor (eg, Electronic Service Broker, Reuters Dealing 2000-2, etc.), N. Larina has neglected their appearance interrelationships. And there are many questions: how and why it is a coincidence of trends, corrections, highs and lows in During a single day, etc.
And what is the way to reconcile the statement on the operation of the shunt of EBS and Reuters Dealing with facilities information as Citibank, JP Morgan Chase and Deutsche Bank in collaboration with Reuters Group Plc failed to withstand the competition? Is it because The consortium has acquired Reuters, maintaining its formal sovereignty to support the traders' opinion that the Forex market is free and independent? If so, then it is quite clear why the Consortium is not afraid to buy the EUR on his dive from 1.36 to 1.1860, since is nothing to be afraid of his knowledge with the point below which it will not drop the rate so that the point of staging the rally dollars to several months without anyone to interfere with your doing.
Fortunately, it is now to understand the trends that rotates exchange rates! largest banks Consortium of the world have the power to reverse the rate, the extent Desiring overthrow the fundamental laws, news stories, trends and common sense, just the way we have seen on 01.04.2005 graphics. But it is not at all, merchants, as claimed by Williams.
It is therefore obvious ineffectiveness of the index of Williams Market Facilitation (MFI) in response to fluctuations in trading volume, to be more precise, sometimes the indicator is telling the truth, so that sometimes it is a shameful way.
These reasons are indicated above: the consortium of banks pushing rates to where it needs, but not in the place where traders go to trade, accumulating volumes, said on the screen. Therefore, traders turn losers when using the indicator Williams MFI.
Full text of this article and photos of examples http://www.masterforex-v.su/
About the Author
Vyacheslav Vasilevich (Masterforex-V)
Professional Trader from 2000 year.
President of Masterforex-V Trading Academy.
Author of Books:
1. Trade secrets by a professional trader or what B. Williams, A. Elder and J. Schwager not told about Forex to traders.
2. Technical analyses in Trading System MasterForex-V.
3. Entry and Exit Points at Forex Market
Books web site http://www.masterforex-v.su/
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