So... you want to trade forex ? well its a hell diferent aproach than futures, thats for sure... when I just started with the idea of getting into forex, I really didnt realize how diferent this market would be... at some point I was almost discouraged with my mixed results on my research...
What I didnt really realized is that as it happens with futures, forex also has its "internals".... those spy tools that can give you that extra edge...
As you all know trading futures can be so much easier when you use certain internals like tick, trin, etc etc... you call it... but this "internals" give you a hint of whats going on...
Same happens on forex when you introduce "Inter-Currency Analisis" to the ecuation...
Its simple all currencies are related one to another... they just cant change so much without affecting other currencies, because they are all related in pairs... they all form part of a "tissue" that has some certain flexibility but at last it will come back to an organic equilibrium...
Lets give a little simple example so you can grasp what I am talking about here... lets say we have a super up move on the USD/JPY ok.. what this means is that the USD is becoming more strong than the JPY... simple as that... now the USD (the currency itself, not the pair) its becoming strong... so what can we expect then to happen on the other pairs that contain the USD if the USD itself its becoming strong ?.... mmmm well, welcome to the "Inter-Currency Analisis" world... now let me grab a good argentinean cup of coffee... I keep going on the next post. cheers The Chimp.
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What I didnt really realized is that as it happens with futures, forex also has its "internals".... those spy tools that can give you that extra edge...
As you all know trading futures can be so much easier when you use certain internals like tick, trin, etc etc... you call it... but this "internals" give you a hint of whats going on...
Same happens on forex when you introduce "Inter-Currency Analisis" to the ecuation...
Its simple all currencies are related one to another... they just cant change so much without affecting other currencies, because they are all related in pairs... they all form part of a "tissue" that has some certain flexibility but at last it will come back to an organic equilibrium...
Lets give a little simple example so you can grasp what I am talking about here... lets say we have a super up move on the USD/JPY ok.. what this means is that the USD is becoming more strong than the JPY... simple as that... now the USD (the currency itself, not the pair) its becoming strong... so what can we expect then to happen on the other pairs that contain the USD if the USD itself its becoming strong ?.... mmmm well, welcome to the "Inter-Currency Analisis" world... now let me grab a good argentinean cup of coffee... I keep going on the next post. cheers The Chimp.