I absolutely agree with you. Those were the days when trading 15m/5m charts was “edge of the chair” fun. Every data release from the US was important and created movement. Even housing starts, cap. utilization etc. And, of course, NFP really was the king of releases, prompting huge moves that actually lasted into at least the following week.
Those were times when inflation and interest rate changes were substantial and the Bank of England was full of surprises.
But it is not surprising that things have cooled. Firstly we have an almost global change in Central Bank policies where we keep things stable via multiple small iterations in interest rates and a tight grip on guiding economic health. Previously economies drove like a car swerving from one curb on one side of the road to the curb on the other - now we have Central Bank “lane control” keeping us in a straight line.
Also, we currently have a very different world where currencies and commodities are thrown into confusion by huge trade war uncertainties and the Brexit saga. The profusion of sanctions and prohibitions such as the US/EU and Huawei throw deep shadows over economic growth expectations and it seems all the investment banks are busily updating their predictions.
It seems to me that currency markets are in a stop-go mode, where a piece of news or an event starts a big spurt, which then fizzles out like a damp firework, hangs around doing nothing and then often drifts back to where it was…
Not a healthy environment for newcomers, to say the least. And I,for one, cannot sit watching a screen when there is nothing to see for ages. My trading has changed almost totally towards setting a trade with a set TP and SL and walking away.
But there are still many ways to trade, even intraday. I think it is just a case of tweaking one’s expectations, and maybe tightening up one’s trade quality entries and employing bigger positions.
But that’s just my view - and I should add that I moved over to commodities and indices already several years ago because of this change in currency market characteristics - so maybe I shouldn’t be commenting on this!