My Revolutionary New Trading System - page 4
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Here is a snapshot of an overlay of the price and the SSI for the USD/JPY trade I took. You can clearly see that as the SSI rises (more clients are buying then selling) the price falls.
Another part of it is that a lot of the Herd actually do pick the right direction, but they succumb to fear and greed and don't close their positions before the trend resumes. They try to predict the top and when they actually do they don't get out of the trade in time. When a huge group of traders all do the same thing at the same time that is going to have a correspondingly huge impact on the price. We aren't talking about ten or twenty traders here going long...we are talking about 80% of FXCM's (one of the largest Forex firms in the world) clients being long.
It's as if you were on a boat and everyone suddenly ran to one side. Do you think that won't have an impact?
USD/CHF's SSI is at 4.6 and the pair is in a clear downtrend. This means that even though the pair is spiraling down only 1 out of 4.5 of FXCM's traders that are dealing in this currency pair atm are short. I'm going short.
I'll update my progress.
Here's another one. This one is for USD/CHF from last week.
Crowds move markets and at major market turning points, the crowds are almost always wrong. When crowd sentiment is overwhelmingly positive or overwhelmingly negative it's a signal that the trend is exhausted and the market is ready to move powerfully in the opposite direction. Sentiment has long been a tool used by equity, futures, and options traders.
-FXCM analyst Jaime Saettele
Look what a wonderful thunderstorm of negativism have you produced, Cyclesurfer! In any case thinking out of the box is better than not. Maybe this particular idea is not very brilliant, but thanks to you I am already spreading a little bit more jam on my toasts... or caviar on my bread. Will be following anyways. Cheers!
Look what a wonderful thunderstorm of negativism have you produced, Cyclesurfer! In any case thinking out of the box is better than not. Maybe this particular idea is not very brilliant, but thanks to you I am already spreading a little bit more jam on my toasts... or caviar on my bread. Will be following anyways. Cheers!
No problem!
Very few discoveries were made without some kind of negativity.
thanks pls post those SC
of fxcm's SSI here , easier to check here
as those SSI seems to be very longterm trend speculators - is it ?
Look what a wonderful thunderstorm of negativism have you produced, Cyclesurfer! In any case thinking out of the box is better than not. Maybe this particular idea is not very brilliant, but thanks to you I am already spreading a little bit more jam on my toasts... or caviar on my bread. Will be following anyways. Cheers!
hehe, good saying Grandad!
Wow. All I can say to you people who think that your broker is out to get you is..I don't even know. Maybe, MAYBE there has been a few brokers who have swindled their clients in the past but if you stick to a huge, internationally known broker you don't need to worry about this.
i think stop hunting is generally a myth.