Bias was to buy up until the vertical line, which made sell the least risky trade. First trade was at the circled area, as it started to break away, with a 30 pip stop.

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The GA is a TA dream come true. It does have legs so any mis-step must be addressed quickly. But it generally behaves according to protocol, so to speak. I'm short today at 1.8078 and 1.8037. The spread is 5 or 6 pips right now, so well past that on ...

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I couldn't agree more. You have a low tolerance for BS. Nothing wrong with that. Call out BS by pointing it out and focusing attention to it. Nothing wrong with that.

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This is a great pair to trade. Professional traders like it because it reliably moves. The PA on GA was a classic square up trade, nearly to the penny. That was the target, where the rescue effort would run out of gas. As for the E$, my target was ...

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GBP was a great trade today. We started trading GA last night, as we were taking our first E$ trade. The G$ is stuck in a holding pattern, and we saw that the A$ was starting to react to dollar strength, so the GA was the GBP play. First entry last ...

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Today, we traded a nearly perfect banker's pattern on the E$, and are still in this trade with a close stop. Got an alert to this late last night and started selling, like the bankers, at 1.1907, then 1.1887, then 1.1875, and finally at 1.1874 on ...

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In part, I agree with your statement. Banks use lots and lots of algos in their FX trading. Their use augments the bank's strategy and operational procedures, and in most ways, automate their trading processes. These processes, now automated, are ...

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Here's the point: Citibank made $4.15 billion last year in FX trading. On top of that figure, you must add what DB, BofA, etc made in their FX trading. These big banks all were able to make huge profits on FX trading, and none seemed to be impacted ...

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Looks like this thread has devolved into a typical Forex Factory "This market is rigged to take your money!" whine session. Usually the culprit is the brokers, or randomness, or the bankers, who are running stop sweeps, or tricking you by using ...

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Algos are used at all levels of the map, to test and confirm when specific conditions are met, for the smooth operations of the market. The single, all-controlling, error-ridden algo does not exist. Anyone who says it does, has no proof and is ...

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Hi RickM, Look, I'm not trying to be a dick -- well, maybe I did at first, but not now. I'm just trying to understand what you are saying. You didn't explain anything about how this error in coding thing is exploited. I understand how bank trading ...

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I agree, after one more piece of information. Once I've learned more about this auction algo coding error, I'm out of here.

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I did see this, but I thought you were kidding. But you repeated it. So you must believe it. It makes no sense, but then again, nothing that has been said about the single controlling algo has made any sense. Let me get this straight: you've ...

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This point you are making is the reason for my questions earlier. No one offered an answer to even one question. For the belivers, the single algo just feels right, or you want it to be right, because that would be an answer to why things happen ...

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That is correct. The banks are not thinking about retail stops. They know the prices that will inflict pain/decision making/prompt action by other institutional traders and they will move the market to or beyond those price levels to make their ...

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OK lets start with this. The candles that we see on our charts represent financial transactions. Someone is buying and someone is selling. The candles are NOT formed by a software program. That is not what is happening, and thinking this is harmful ...

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The notion of the algo persists. I was wondering if the forex algo is, in fact, the precursor of SkyNet, the AI that was featured in the Terminator movie series. It is just a matter of time that the algo turns its attention away from forex to making ...

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Exactly. We've all seen this happen a million time. Nothing new is happening right now from what I saw on charts 15 years ago. But seeing things develop, experience developing strategies and contingencies, etc takes time and practice. I've been ...

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RickM, or it's just bankers communicating with each other. The PA is a classic pole formation, which is a continuation formation. Then, a pullback to the midpoint of the last leg, and a push back to the bottom. I traded this on the break of the grey ...

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I remember a story from around 1970 in a Midwest newspaper, I think it was the Des Moines Register, about 2 women who traded currencies. They were farm wives in North East Iowa and their farmer husbands had more money than they knew what to do with, ...

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