Why is everyone so technical here?
Wellcome to the club dude ..... here we didnt care what are you ..... the only things is ....: THE SHOW MUSK GO ON :..... You have all the space to explore........ Cheeer$
Ok, show me an EA that has intelligence and trades fundamentals...
We are technical simply because this is the way EAs work. Mathematic formulas and programming. And this forum is intented for this, so I think I have answered your question.
If you traded any kind of combined fundamental/technical system this week, using GBP/JPY, you could have made around 1000 pips like I did. Using any JPY pair you would have kicked ass on shorts. This has been in the works for a while, fundamentally, but we had to look to technicals to find out exactly when. I am very aware that this is a rare occurrence, but to quote Mr.T, "I pity the fool!" that was out there scalping the charts, totally technically, this week. Combining the technical and fundamental in a way you are comfortable with is the way to go. Do not ignore fundamentals, because this market is not about mathematics, it's about the way people use mathematics psychologically.
--Duke of Dents
BTW, I need a new user name. I figured on this forum if everyone thought I was a little Indian dude they would leave me alone. I'm really the angry white man, "Duke of Dents", from over at Forex Factory, where I was banned for speaking the truth...Presumptuous post. You make a good point about fundamentals and I think that most everyone here who trades Fx regularly is already well aware of their importance. A foolish EA I built was actually able to catch the entire Yen move on 3 different pairs this past week so the implication that purely technical trading via automated logic would've somehow missed the boat is a false one.
Incidentally...don't be misled by the humble introspective nature of little Indian dudes...they know when to pour on the coals if necessary. 
A good EA would have caught the wave of JPY appreciation. When the BoJ raised the interest rate to 0.5% a few weeks ago, USD/JPY should have tanked, but it didn't. So much for fundamentals.
A good EA would have caught the wave of JPY appreciation. When the BoJ raised the interest rate to 0.5% a few weeks ago, USD/JPY should have tanked, but it didn't. So much for fundamentals.
Responding to this, the chart (price) actually took this into account before it was released. It was expected that the rates would increase, so when the announcement came, there was no shock. If there had not been an increase, price would have behaved much differently.
Technical Analysis simply states that all known (and sometimes unknown) information is already taken into account by the price, so by using the price (and for a pure technicalist, only the price), decisions can be made. I'm not claiming that the price always takes everything into account, however (as I believe fundamentals have a place), but in this case, the market sentiment was that the rates would increase (or should increase).
I have six fingers.
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If you traded any kind of combined fundamental/technical system this week, using GBP/JPY, you could have made around 1000 pips like I did. Using any JPY pair you would have kicked ass on shorts. This has been in the works for a while, fundamentally, but we had to look to technicals to find out exactly when. I am very aware that this is a rare occurrence, but to quote Mr.T, "I pity the fool!" that was out there scalping the charts, totally technically, this week. Combining the technical and fundamental in a way you are comfortable with is the way to go. Do not ignore fundamentals, because this market is not about mathematics, it's about the way people use mathematics psychologically.
--Duke of Dents
BTW, I need a new user name. I figured on this forum if everyone thought I was a little Indian dude they would leave me alone. I'm really the angry white man, "Duke of Dents", from over at Forex Factory, where I was banned for speaking the truth...