Hello all, please I want to know if a particular currency depreciates in value when it’ session closes for example if the EUR or GBP falls after the close of the London session. Will really appreciate your response to my question. Thanks
Currencies continue to be traded against each other 24hrs/day Monday to Friday.
To answer your question, no, currency price action is too random to attempt to say Buy/Sell the USD at the open or close of the US Session…same with the EUR at the beginning or the end of the European Session… However…
This video, one of hundreds on this theme, is worth having a look at, it’s the closest strategy that covers the crux of your question.
Whether it works or not, you’ll have to do your own research and make up you own mind.
ok mate, let’s have a very frank talk…ok
see this question
this is a silly question
now before i go ahead, and to make sure that i’m being sensitive towards your feelings
i have to say this
I GENUINELY DO NOT MEAN ANYTHING BAD TOWARDS YOU… ok
Are we clear on that ?
my intention here is to help each and every newbie that has a question
now. i recently told you in response to this question
that this is like asking IS A CAR BLUE
now… i got flagged for that question
Seriously… what was wrong with that ?
so… allow me to EXPLAIN WHAT THE PROBLEM IS HERE
Mate, if you go to the babypips course on how a candle is created
you know the one where they explain to you how OPEN… HIGH… LOW… CLOSE is created
ok
and now… if you apply common sense
and given how many candles occur and on what time frame and on what instrument
DOES IT NOT OCCUR TO YOU that a candle MAY close below the open
i would think this would be obvious
i would think this would be a question that does not need to be asked
asking this question is the equivalent of asking which side of the toilet paper should i use when i go to the toilet
now… we can answer politely and give you the correct answer
"hi…yeah, thanks for your question, we always appreciate new users asking questions… the answer to your question is … it doesn’t matter you can use either side"
and then you can respond by saying
"thanks for that, appreciate it"
but , should this need to asked
should this need to be answered
and seriously… what does this say about you IF YOU ASKED THIS QUESTION ?
Now… AGAIN… i’m not being rude
i’m and just trying to illustrate the fact that i deem both of the questions to be on such a basic basic level that i cannot comprehend why you are asking it
ok
DO WE UNDERSTAND EACH OTHER
so… I’m not being rude
and
I’M TRYING TO HELP
and for that… i got flagged
so can you now see how my counter question… IS A CAR BLUE
is the same as WHICH SIDE OF THE TOILET PAPER DO I USE
or DOES A CURRENCY DEPRECIATE AT THE END OF THE SESSION
can you see that
Now mate, LET ME MAKE ANOTHER POINT CLEAR
AS POLITELY AS I CAN DO SO … ok
you have to understand something
-
I am one of the more understanding members on this forum (at least, i’d like to think so).
which is why i’m writing this to you (Most would not take the time, and I KNOW I WILL COP CRAP FOR WRITING SUCH A LONG POST… SO CONSIDER THAT AS WELL… OK) BUT I’M DOING IT TO HELP YOU. -
you also need to understand that newbies come here asking the dumbest questions sometimes
-
now, put yourself in our shoes
this site was created to help newbies
your responsibility is to go to the education tab and read and learn
you should know how to use the search bar
if you do those 2 things you should not have to ask this question
but stilll Newbies come on and ask these questions because they could not be bothered to go through the babypips course or use the search bar
basically they want to be spoonfed information
MATE, LET ME LET YOU IN ON A HARSH REALITY OF TRADING
Now… i have been told by a moderator to not disuade newbies like you from coming here
so let me be clear
DO NOT LEAVE THIS SITE ON ACCOUNT OF WHAT I HAVE SAID… ok
and i have no intention of making you leave or being rude to you
but, YOU REALLY REALLY REALLY NEED TO UNDERSTAND THIS
-
I can be sensitive towards your feelings, that’s fine but that doesn’t answer your question nor does it help you (Trust me on that)
-
mate, you need to understand that IF YOU ASK FOR HELP, you need to accept the answer
-
also… you need to understand that if you are on the level that you are on, THIS INDUSTRY WILL EAT YOU ALIVE AND TAKE ALL YOUR MONEY
(read that again, just to make sure you understand it )
Make no mistake about this
you know that movie LIFE OF PI
you know that scene where the deer was put in front of the lions cage
well mate, You’re the deer
and if you walk up to the lion and say "excuse me mr lion i’d like to politely ask where the water is "
you know what the lion will do … don’t you ?
mate, the lion will be relentless and without mercy, You will be pulled through the bars and as you understand the harsh reality of what just happened the only thought that will go through your mind is…
WHY… Why did he do that, i was just asking a question HEHE
yeah… good luck with that.
this is the forex industry (the Lion)
you are the Deer asking where can you get a drink
Now, i am like another animal telling you to stay away from the lion’s cage because i’ve see the lion do what he can do , before , and i’m trying to help you.
and you are basically telling me that you don’t like the way that i’m talking to you
WELL MATE hehe
the lion will still eat you alive… won’t he ?
so… try to understand this
WE ARE HELPING YOU
this is the reality of the industry that you have stepped into
so… MAKE A CHOICE MATE
CHOICE #1 - YOU WANT ME TO SPEAK TO YOU IN A MUCH MORE POLITE MANNER with a much more sympathetic tone in my response
if you do this… you will learn nothing and the industry will take your money and you will have a day when you are sitting in front of the screens and you’ll be like WTF, i did everything right, how did i lose all my money
that’s option 1
CHOICE 2 - You choose to understand the reality and understand that we have to explain things to you in a certain way at times so that you learn
and also understand that (i’m sorry to say it) YOU NEED TO USE COMMON SENSE, because if you don’t , you will fail to achieve a certain thing
that thing being, a successful strategy
because, COMMON SENSE AND IDEAS are a NECESSARY COMPONENT of formulating a strategy that works
even the moderators understand that newbies ask stupid questions and are a bunch of whingers.
they have stated this to us many times
and you know what we get told…
Newbies are Newbies
and YES… OK they are
but do we need to enourage this behaviour ? I THINK NOT
i think encouraging this behaviour will give you a false sense of you are doing everything right
then THE REALITY will kick in when you lose all your money.
SO… DO YOU GET THIS NOW
do you get how silly your question was
Now… Stupid me , for trying to help you
all i said was… IS A CAR BLUE to illustrate my point
there was no profanity there
but yet… i was punished by the moderators for your stupid question
now i ask you
IS THAT FAIR
now. i have no bad feelings towards you mate… ok
but understand this
how would you feel , if the newbies kept on asking stupid questions and being lazy and not thinking and then you got punished for it
I have slogged my rear end off for the last 7 years to learn forex and now i trade successfully
and no one helped me.
and when a newbie wants my advice, i help where i can
but i’m not going to sit here and cop crap because someone can’t think… ok
from my end
i can sit back, not reply and watch you lose all your money , it doesn’t affect me.
and then you’ll post something like this
"I Lost all my money trading forex… Can someone explain why "
but you know what
if we tell you the truth
we’ll cop another warning from the moderators
so… WE WON’T REPLY
and YOU…
YOU WILL BE LEFT WONDERING WHAT THE HELL HAPPENED
WELCOME TO FOREX MATE
do we understand each other ?
i await your reply