there are some other prediction using just statistics -- but the essence is -- what is useful statistics to you ? (market or your own personal records stats)
ironically, if you are retail , not big customer, the broker should have enough buy/ sell to act against your order, somewhere in some part of the world
so even the accounting firm audit the broker book, your 1 buy or 2 sell, will be equal out, and the broker don't have a net surplus or deficient, then it don't have to buy or sell from the market, so you see broker could accumulated order and do big buy or big sell in specified regular manner in certain time of the day
so statistics, could be personal statistics i.e. you should trade as usual, then look at your own personal statistics by analyzing the statement
or pay the programmer some money to analyze your statistics , in the personal level , I think other people can analyze in a more structured way than you do it yourself
another statistics could be "market scenario" -- it change from time to time, again , only professional can advice you -- and you better pay them as people know more than you , if they really win or more insight into forex
statistically, unless you are the top25% of the brightest forex trader, you are not suppose to win money in long term
monday effect etc
it applies to stock, not on forex
-- if you are into weekly trading, do you have good strategies to LIMIT YOUR LOSS, if it is outside your Predicted boundary, e.g. if EURO move or AUSSIE move, you can be DOOOOOH
early monday morning is a very strange period
as tokyo is morning, while USA retail trader is the late evening on SUNDAYS
there could be gap -- people using Cover strategies will watch it closely, different broker start the week at different time, could be 2 hour apart
and gap could be filled before wednesday
so your question could be RANGING, could be how to do weekly, could be ceiling / floor level -- but those may not guarantee you take less week than day trading traders
---
there are plenty of daily indicator that could help you , but they are aim for about 25 pips -- above or below yesterday level, then they go in === weekly trader usually mean HOLD all the loss --- but you must be skillful enough to do so , otherwise, stupid-- as it could be enormous , if 1 pip = 0.88 to 1.09 USD
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Has anyone created strategies based on statistical daily/weekly ranges and patterns? (E.g. buy if price fell beyond its typical stastistical range) Or even stastical directional behavior- e.g. Tuesdays are more likely to be up days.
I've talked to some quants at some FX desks in the big banks and was just wondering if anyone else worked on something similar.
Thanks for your input!
Kris