Hi all,
I’m pretty new to this forex trade thing. Just wondering about some major currency movement. Sometimes these currencies move up and down for more than 20/30 pips in a few seconds without any news. At least out of my ability to get them. I assume there are some rumours or news around the market. My question is where you guys get the news from.
Thanks for your reply.
I use forexfactory.com’s news calendar, that lists most of the big stuff and has a helpful coloured flag system, whereby the really big stuff is flagged in red.
However I also regularly look at Reuters and other news sites, as it pays (literally!) to have a good feel for what is going on out there.
However not all new-related moves can be linked to something predictable, sometimes something happens, someone says something, and the market bounces around a bit. This is where a sensibly-placed SL comes in. But to answer your question, I use forexfactory.com and have done for nearly three years.
However not all new-related moves can be linked to something predictable, sometimes something happens, someone says something, and the market bounces around a bit.
For example today. EUR/USD jumped 100 pips without any apparent reason.
I’m following the news on Investing and TradingFloor, but I wonder, is there any other source, not known to me?
Can such moves be related to theory of “smart money”? I think, that going lower on EUR/USD was difficult, because Euro dropped significantly in last week, so I think, there could be possible scenario:
1 big player decides to move the price higher and starts rapidly buying. Other big players follow in seconds. They altogether move the price some 80-100 pips above the current level with little buying, because there is not much resistance (few sellers). And the they continue buying in range +/- 10 pips, until the price start to move up without their intervention (the goats have start believing, that the price would go even higher). So the “big players” have easily accumulated and they start selling, but at much slower pace, which will give them better average sell price. I could mathematically prove such a system, but I wonder, if this could really be the case.
Does someone have similar ideas?
I’m not really newbie, but I have still many open questions about the market. Any opinion about my question will be most welcome.
firstly i’m not quite good with news, unless how to understand what many economist said, while in the contrary often I do like to trade during news event. reading post related to ‘smart money’ the big boys, rapid scenario while trying to put logical mathematic upon it, as your question if this could be the case ?
well, i said anything could happen at forex market.
while importantly, why complicating why the market moves, and did we found any positive result if truly able to predict where the ‘big player’ gonna move ?
from my concern, and this could be the very basic lesson.
market never lies, market only talk to himself. besides, any [B]transaction [/B]only occur when the seller accept any price demand by the buyer. which mean those big player not alone, even when goes all together buying some stuff (literally :move the price ), they still need to do a “[I]transaction[/I]”.