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What? If these were mere "brokers doing business on behalf of their clients" then where (according to you) would the execution take place? These are not "brokers" but "market makers", they are liquidity providers. This is OTC fx market making and Volcer rule has got nothing to do with it.

From what I heard, I don't think this is that easy to determine. Why? Keep in mind these are market makers. Prices are taken from them. As such they don't have the luxury of putting on a certain size on and keep it constantly at that size. In fact, with so many deals each minute the dealer...

I remember that being mentioned in one of Market Wizards books. Citi was mentioned as being able to make so much money on spreads (market making) because they had worldwide presence including dealing in countries that had no own central bank and such. But keep in mind that is based on old...

It is not about what markets you trade or how you trade, how can I know what/how you trade (besides what you obviously described in this thread over the years), how can you know what/how others trade? You didn't get my point, but that's fine. Besides I said clearly that it was my subjective...

While ES, like many indices is mean reverting intraday. Currencies are not (neither intraday nor longer term), at least not on the charts I'm looking at... I'm glad that you found something that works for you. I've seen the stuff Maverick wrote about but... well, allow me to explain in full so...

Well, I'm not sure whether you trying to be a smartass or this is the way you just respond on Friday afternoons, tired of trading . I take it's the latter. With that being said let me be absolutely frank with you, as you are acting like you already have keys to the kingdom: 1. I have no...

Well, if you used it only for scoring number lines which is done at the end of the day, then why not treat such short pokes above the level as failed A? After all the levels and OR are just the approximation. What was wrong (for you) with Dax, if I may ask? Have you figured out what the...

I don't follow... if you don't do any (ACD) intraday trading, then what "pokes" and what 30min confirmations are you talking about then. These were clearly suggesting intraday trading to me. By the way, how's that Dax trading (your "weakness and magnificent obsession") going for ya?

Steve, allow me to point out an alternative look at he same data: 1. a trend from the open (A day) within a given day, regardless how strong, pretty much shows that the market is one sided that day, that it was lacking opposing force that day, but could retrace the next. The longer or harder you...

I'm assuming that you know about his RV TV, right?

I'd hate this thread to become discussion about bitcoin (as I'm not a fan of crypto space at all), but let me just say this: bitcoin is a mania, it will ultimately be worth zero. Now, there might be some "value" in the blockchain but not really a monetary one (similar to the internet that also...

Maverick, could you help me out with some general advice? I know you can do bigger OR if you're fader and smaller if you're breakout/momentum trader. But as in Fisher's book and as I'm reading through the thread it looks like you guys are setting p your own ORs and A/C levels and you use them...

you can use it in any way you want, you can take whatever you are doing now and incorporate ACD into it. As Maverick pointed out before, decide upfront what information are you trying to get from ACD so all things align properly. You don't want to mix conflicting methodologies.

Who said ACD is the method that must be incorporated in order to be successful? I'd say you haven't found your own niche then. No reason to give up trading (looking for your own spots) as long you are not bleeding money left and right.

1. sounds like you are setting up more for fades. 2. you say that probably because you set up for fades. If you set up for momentum play, price trading straight through A can be a good signal. 3. again, if you're set up for fading then this is normal market behavior. The problem is that you...

good stuff Maverick but I personally would prefer looking more into Price Discovery and Auction Theory. The problem with Keynesian beauty contest and what he thought the "stock market" speculation is that it is not about "valuation". When it comes to trading it is not about being right or wrong...

But efficient at what? There are only two ways for the market to go (irrespective of time) and that's up or down and you are either right or wrong with your predictions. People base their decisions on many things, mostly emotions, including fear and greed. It doesn't matter (to me) whether they...

Reading this thread I came across you post and it touches on a subject that that has been on a back of my mind for a long time. There is that big discussion on whether markets are random (whether due to efficiency or whatever) and sometimes I think it really depends who you are or how you look...

I wasn't talking about Soros and that sterling collapse. But I admit I was talking about dealers handling the orders from their clients as they come. My understanding is that not much has changed. Yes, many market participants now have direct access to the market so they can run their own...

I have been misunderstood. I was not referring to FX moves on news. I totally agree with what you just said (regarding spikes on news) and that was exactly my earlier point why slapping OR on news might not be the best idea (even if R:R is good) because the moves are more random at that moment...