Hey Chief…
I’m not that adept of how to do that, sending over my excel sheet.
I guess if someone thoroughly explained how to do that, I would. Like, where you couldn’t edit what I do. But have access to my entire sheet.
Sure.
Fire away the instructions.
Mike
I want to show you my bottom table. All this is, is the match ups between the most demand currency to the least demand currency, in one block. The greater the %, which is at the top, and the least amount of spread is at the bottom.
Ready for a shocker?
I guess you can look at this table this way. If you’re coming from a perspective of a specific pair, how would that fair against another specific pair? From a demand perspective. Like, for instance, say, the EUR/USD (everybody’s favorite). Where they at? 3.92%. Now, if you wanted to compare those 2 currencies against, say, the USD/JPY currencies. That one is sitting at 1.09% (favoring the USD, white). There’s more of a demand coming from the EUR/USD than the USD/JPY…in the context of strong/weak comparison only. There are other factors to consider. This is just a comparison with those kind of glasses on, get it?
All this really is, is a good way to approach your trading. Maybe you would want to, then, look at their particular chart. Now, this is all for those who are looking for which currency pair would be the one they might trade. But, if you’re simply looking for things like price action, see, this wouldn’t be all that big of a help. That’s a different perspective. Different strokes for different folks. You definitely could spot a shooting star anywhere, right?
Alright.
I want to show you how I will be looking at this info, before the week gets rolling.
Mike
Thanks for coming up with this thread really… I’ve read through it all and can say it’s pretty much what you call it… a different approach to the same end with what Dennis’ thread does… There definitely is a treasure trove of data here for new forex enthusiasts like me to go through (It fits perfectly well with the trading strategy I’m currently trying out on a demo). As as been previously suggested, it would be really nice if we could access the file on drive (and yes without edit permission lol). I found this video to be pretty instructive on how to go about that… I hope you can find the time to go through the trouble of getting it out there for us all to see your work. ; )
Thanks Macilme!
We’re all in it together.
These are some of the things I see in here.
Man, that reminds me of how October went. It really was the Dollar & Yen show. Believe it or not, there was so much buying of both of those currencies, more than any others. There is something to that. I’m sure there is some explanation for that. But, in my mind, it means something. Friday’s climb definitely reminded me of that.
Here’s the month in the daily perspective.
And this is how I think. First off, we do not know what’s going to happen. We have to see it play out. But, in the diagnosis of things, if I continue to see these Major players getting bought more and more, then that will constitute what the money wants to do. Remember also, that we are heading into years end. This just might be a setting up for what’s to come next year, after the holidays. Trends sometimes take a long time to coagulate. Tread lightly. We need to be onlookers more than shooters.
Any thoughts, on all that nonsense?
Mike
I’m just sitting here thinking, some more. Diagnosis wise. You know, here’s another thing to think about.
Quiz time.
What moves the currencies the most?
Economic Indicators. Aka…news.
So, let’s go through what we got coming this week.
I see, for the London morning time on Monday, that the EUR has some inflation data coming out. Definitely a possible sentiment mover. We’ll see. Just need to be aware of that. Not much else to worry about for Monday.
But, Tuesday, at the open for Asia, the AUD will be having some Meeting Minutes. That’s a talk on what their central bank thinks about their economy. Again, possible way to move that currency one way or the other. And the way it’s looking, boy, it would be a good thing that they would paint a not-so-good picture. Because they are already down in the dumps. Look. I don’t really care, but it would be nice to see things go one way or the other, right?
Tuesday, a lot of attention will be going the way of the USD. They got housing data, Redbook. Definitely the market will be watching. Also on that day during the US session the Global Dairy Trade Price Index is coming out. Well, that can possibly affect the Commodity Currencies ( NZD, AUD). Also Tuesday very late in the day the NZD will be looked at because of their current account numbers.
Wednesday, for the open, maybe the JPY. I don’t know though. They don’t always move because of their economic numbers, but moreso for risk-off reasons. But, for some reason, I think that might be changing. Maybe the central banks are starting to see some changes regarding their financial economic situation. I just don’t know. We’ll see. Anyway, for Wed. the GBP has a slew of data coming out. Possible way to push them one way or the other. Also CAD has important data (inflation #'s). We’ll see how that all goes. The USD also have some data then (existing home sales). But, as I have in my mind, our home data hasn’t been so good. I kind of think it’s on the downside. I feel that our country is not all that moving up anymore. We are late in the business cycle. It is only a matter of time till we get the next turn down, economically speaking. Just look at the equity markets (finally cracking apart). Oh, I see that Wednesday also has our FOMC rate hike decision. That’s like 2:00pm my time. Pretty late in the day.
Well, well, well…yep folks. Be ready for that. The USD will be moving. Sure, you will hear a lot of economists, analysts, saying that everything is already priced into the Dollar. But don’t forget, the rates are rising! No matter how you slice it, interest rates going up means money for a lot of investors, traders. How about the ‘carry trade’ traders? I’m not one for that, but just know that investors will be trying to take advantage of the difference in interest rates, between the currencies. The Dollar will be moving. Ahhh…is that why on Friday it rose up. Oh, I bet. See, traders see these things in advance.
Look. Be aware of that. And know that price never goes straight. It’s pretty much, up…down…back up…down…You just have to see it over some time span. Really.
Wednesday ends the day with some major NZD news (GDP).
Thursday starts the open with major unemployment news for the AUD. Yep, a market mover. What we all want is to see the slant get more. Which lately has been for the downside. Right? But we have to wait and see, that’s all. Ohh…the JPY have an interest rate decision just after the day starts. Well, they aren’t going to raise it, but, the market does like the attention though. Maybe a spike up, then right back down. I don’t know. But, is noteworthy. Then the GBP got some stuff coming for them Thursday, when they get into session. shrug We’ll see. Retail Sales. Hey…their economy seems to be heating up actually. If it wasn’t for Brexit, they’d be raising rates. We should be aware of that stuff. Ohh…also I see here that they will be voting for the interest rates. Meeting Minutes. Quantitative Easing mentioning. So, be aware of some market moving GBP, definitely.
Friday will begin with some JPY inflation data. Very possible moves there. And the GBP strikes again. Friday, early for them, have some GBP data. Expected to increase. I’m telling ya, they are overheating. And the only way to curb that is by raising interest rates. If it weren’t for dog-gone Brexit…
Friday also has some CAD, and USD major news. Be aware of that also. Man…much USD news. I even see the CAD has a business outlook survey. That might be interesting. Hey, if it’s said that they are looking good, and are even a little concerned with their inflation rates (being on the high side of 2%), then look out, money will sniff it out and start buying the CAD. Don’t forget, a lot of times the CAD will follow the USD. Oh, I’ve seen their relationship time and time again. Kind of reminds me of the EUR and the CHF. They are trading partners don’t forget (USD,CAD).
Well, let’s look at this. Big picture wise. Definitely looks like a lot of market moving causes coming our way this week. And mostly coming from the USD. Also edging the Majors, more than the Comms. In my mind, I think I’m watching what the USD does. Cause that’s what I think the market will be paying attention to.
You have to see this stuff coming. That is how the market plays. And when the time comes, it might not always continue. You heard of buying the rumor, sell the news? That’s what that means. Like, buy now, the USD, but when time comes, it just might go down. Unless the trend is strong. Then it’ll be like, buy now, and buy some more later.
Well, hope this helps. It sure does help me. It’s just what a good trader does, in his specialty. Research. Prepare. Know what you’re gonna do beforehand, if all goes awry.
Talk to me.
Mike
Good Morning!
What’s been happening since the open?
Well, surely not much changing.
EUR took the top spot, 0.89%.
JPY took the lowest spot -1.06%.
That’s not all that much of a movement. It’s still early.
You know, there is some dynamics to the specific days. I’ll get to more of that at another time. But, for Monday’s, it is not noted for any real market moving dynamics. Kind of like the market is just getting warmed up. That’s why there are a lot of traders that like to sit this day out and watch what the flow ends up turning out to be like.
Ok.
We’ll talk later.
I’ll look into that Macilme!
But, exercising comes first.
Mike
Ok. Well, here it is.
This thing is called “DAILY TREND TRACKING”. It’s the sheet that I am using, and working primarily from. All those other sheets are history, so, basically, disregard those. Can’t even remember what’s on those.
THE DAILY’S.xlsx (598.4 KB)
Good luck.
Talk to me.
Mike
P.S. – If you scroll down to the 200’s rows, and like column A, you will find October and November’s daily ending numbers. I think that’s good information. Especially at the right end of those tables. That’s all compiled info from that month.
The latest.
I will explain how I do these running totals. It’s self explanatory, but.
Well, that’s how it’s done. And I don’t think it should really matter, cause it simply is correct when all we want to know is how are the currencies are relating to one another as the month is progressing. This tells me what’s going on. Where are they standing after each session along the way.
For today, I know that the CHF was bought more than any other currency during the London’s morning time. Also the CAD was sold more than all of the others, during that time period. All of this is in the context of how the month is unraveling. The demand for all of them. There’s no denying the AUD has been sold more than any other currency for this month running. It’s all facts. Plus, you can see by how much. Which, in this case, is twice as much as their counterpart, the NZD.
The month is unraveling. The demand, in %'s, is shown right there. And that’s what I want to know. Plus, the black bar, shows me that the flow was positive (4.12). Meaning, the positive standing currencies (top 4) increased positively, and the negative ones (bottom 4) decreased negatively. Aggregately speaking.
This is what you call knowing what’s going on, with these currencies. Demand wise.
Mike
thanks for the share @MikeWolski… now we can actually look at the spreadsheet itself and not pictures of it haha 
You got a new student as well now (read a bit through “The Journal” and man you do write!!) I now I appreciate babypips.com more for the people i’m getting to know here than the formal FX education itself)…
Kudos to you and all the good guys making Babypips a real community 
Keep up the good work.
Thanks Mac!
Now that was encouraging.
Appreciate it a lot.
Fire away with anything you need help with.
Mike
Hi Mike…appreciate all the work that must go into collating all that data…you must spend a huge amount of time on it…thank you for sharing it…all the best mate!Cheers!
Thanks Dre!
On the contrary, it doesn’t take long at all, to run them. 20 min.
Man…you should have seen the hours I’ve spent, in the past, doing all this on paper. I would spend 6 straight hours every Saturday morning doing the numbers.
The thing is…nothing makes me more happier.
I’m a numbers guy, that’s all.
Thanks for the appreciation Dre.
Mike
This is amazing. What dedication. The images of your stacks of papers is crazy. Paper? What’s paper? Haha.
Thanks for putting this all together. Still wrapping my head around it, but I’m following along!
Great message here.
And the day ends.
Well, not all that market moving. But noticeable.
Boy, the JPY took over the US session.
Anyway, got to run.
MikeTHE DAILY’S.xlsx (608.9 KB)
Good Morning.
Geez. I’m sorry. I was in such a hurry last night that I never sent that last post! Just sent it now. Sorry 'bout that.
Here’s the last, for today.
Well, well, well. Got some serious NZD spreading their wings.
I just took a pic to show you the other way I know what’s going on. And you know it…Barchart. Take a look at the NZD.
Look. We have to see how the day ends. Don’t forget about that. I will always have to remind you about that. That’s because I always tell myself that!
But, we do have some heads up though, right?
Mike
Let me do some explaining. Cause it disheartens me to know that some of you can’t really ‘wrap your head’ around this stuff. And that’s ok. I just need to explain more thoroughly. Hope this helps.
I’m in the US. And back in the early days of our country, when it was being discovered, settlers started in the east. That’s why the first 13 colonies (states) are pretty much along the east coast. Well, in order to discover the rest of the country, they had to move out west. And they did.
Well, the most favorite way to get on out there happened to be St. Louis, Missouri. It’s in the, so called, midwest. And what they ended up calling that place (city) was the Gateway to the west. They erected a monument. I did spend some time there, long ago (90’s). Well, it’s a monstrous piece of construction. Even went up to the top. There’s a lookout up there where that little light is at. Man, can you see far from there.
Anyway. That’s nice. I know. Well, think of my thread as the gateway to the market. There is a lot more to trading. And that’s the job of BabyPips. The starting point is their school of pipsology. Cause, as well as you all know, it all comes down to where you get in the market, and where you get out. In order to possibly make any kind of profit. You need some kind of strategy to follow. Repeat. Tweak, as time goes by. Etc…
Where I’m coming from is this. All I want to know is what’s going on in the market, before I do anything. What are all the currencies doing? How are they relating to each other? Who has the most demand? Who has the least demand? And by how much? It’s putting them in some kind of perspective. But, it is important of what kind of perspective. See, you can trade a thousand different ways and time frames. You will all see, if you pay attention, that it’s very difficult to know exactly how long the attention will be given to a specific currency. Money wants to go somewhere. The demand for it will surely find it. There are so many traders trading what they think. But, it’s only when the majority agrees that you will see the big moves. When there isn’t an agreeing upon, that’s the reason it can seem like a crap shoot. Back and forth. Unpredictable.
But when you step back, pay attention to the outcomes, will you be able to get that sense, of where the majority wants something to go. And hopefully it won’t be all that too late. That’s why I pay attention to what happens in the respective sessions. Not by how many hours pass by.
Ok.
Hope this helps.
Mike
Let’s talk market, huh?
The NZD dominating.
And the USD in least demand.
Well, remember this weekend how I was talking about the USD? Welp…I was wrong. That’s why we always have to ‘wait & see’ first. It’s being sold off. We can track by how much by my table up above. Man…what can I say…I sure hope nobody is trading the USD long.
But, the most in demand against the weakest in demand, for the month, is still holding up (EUR/AUD). But, the attention has been diverted to those other 2 currencies, today. Yesterday was not much of a market moving day. But surely, today is. Now we know. That’s why it’s important to have the ‘see it happen first’ outlook, then take action.
Maybe I’ll keep my comments to myself.
Dog-gone USD.
Mike
THE DAILY’S.xlsx (599.5 KB)
So, today’s results.
Well, believe it or not, the USD took the session. They basically just reversed a lot of selling. Called retraced some.
But, the CAD just fell apart. It was most pronounced during their session. So much so, that they were the currency that was sold the most today.
But, the NZD took the day in total. Didn’t quite make it up to positive though. See that dividing line? In fact, the USD didn’t go under. Interesting.
Tomorrow will be interesting. Let’s just keep monitoring what that USD does, that’s all.
So, no changes to the line up during the day. Other than the NZD jumped a couple places from yesterday. But, all stayed in their respective standings. I just see that as how they are all relating to one another. Of course, in the perspective of how the month is rolling out.
So, the only real change I’m seeing is how less in demand the CAD is. Also, the JPY is up there, huh? That’s safe haven play. But, look at the divergence between them and the USD. I don’t know, there maybe something to that. To early to tell though.
Ok.
Mike out.
THE DAILY’S.xlsx (596.1 KB)
