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Flying Dutchman

  • #11,581
  • Oct 22, 2025 9:21am Oct 22, 2025 9:21am
Quoting oluchukwu01
{quote} I believe market is working in favor of me and you Watch the nearby resistance line {image}
That spread just seems insurmountable to me. I wish that the spot forex market could become more centralized so that spreads like this would be a thing of the past. If this were an exchange listed futures contract, the minimum fluctuation would probably be 0.50, and the spread would be something like bid 202.65 offer 202.70. I'm not criticizing anyone who is able to turn a profit in these instruments. I just wish to point out how much the spot FX deck can be stacked against us. In my opinion, spot forex takes incredible high levels of skill and discipline to turn a consistent profit.

Good trading to all!

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Life itself is a privilege, but to live life to the fullest is a choice
  • #11,582
  • Edited 4:12pm Oct 22, 2025 4:00pm | Edited 4:12pm
Quoting vidvad
{quote} That spread just seems insurmountable to me. I wish that the spot forex market could become more centralized so that spreads like this would be a thing of the past. If this were an exchange listed futures contract, the minimum fluctuation would probably be 0.50, and the spread would be something like bid 202.65 offer 202.70. I'm not criticizing anyone who is able to turn a profit in these instruments. I just wish to point out how much the spot FX deck can be stacked against us. In my opinion, spot forex takes incredible high levels of skill...

Hi Vid
Yes, 3.2 pips (if i read it correctly) on O's chart is far higher than normal for GBPJPY from my broker and I don't enter trades during those higher times
(which are usually outside of solid liquidity being present, or news happenings, or the day rollovers)

I trade usually on a GJ spread of 1.1 to 1.4 pips, which bothers me not as a trade or profit function, which to me is when I ddiscretionary TP
(or SL lol when the spread adds)


Here's an (edit: mt4) spread indicator that I use if it helps anyone
So as not to have both bid & ask lines on my charts (as an extra horizontal line hahaa)
Attached File(s)
File Type: mq4 spreadindicator.mq4   3 KB | 102 downloads
  • #11,583
  • Oct 22, 2025 4:12pm Oct 22, 2025 4:12pm
Quoting oluchukwu01
{quote} I believe market is working in favor of me and you Watch the nearby resistance line {image}

Hi O,
I enjoy your charts and comments some of which I find quite innocent and cheerful, thank you.

I should mention that I never really consider the market movements working in my favour
(but this may just be our meanings of the word)

The market/s (imho) work to the favour of the largest and most controlling participants (by volume, which we cannot see in forex)
(and counter intuitively "they" will sometimes run the market against their ultimate direction by gathering in and aggregating trades,
until they flip over & catch a few on the way back - long story)

The market favours those in profit and not those in DD, while the way the game is played (and again just imo) a simple DD is to be expected.,
as else WHO is taking the exact equal & opposite side to our trades each time we enter (another long story hahaaa).

All the best sir.


For you, GBPJPY for the day ahead.

.
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  • #11,584
  • Oct 22, 2025 4:22pm Oct 22, 2025 4:22pm
and USDJPY

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Attached Image (click to enlarge)
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  • #11,585
  • Oct 22, 2025 4:58pm Oct 22, 2025 4:58pm
Quoting vidvad
{quote} That spread just seems insurmountable to me. I wish that the spot forex market could become more centralized so that spreads like this would be a thing of the past. If this were an exchange listed futures contract, the minimum fluctuation would probably be 0.50, and the spread would be something like bid 202.65 offer 202.70. I'm not criticizing anyone who is able to turn a profit in these instruments. I just wish to point out how much the spot FX deck can be stacked against us. In my opinion, spot forex takes incredible high levels of skill...
Hey brotherly, your opinion is well received! The higher level of discipline and Co. is what makes it fun lol! you got to understand any currency paired with Yen must have more spreads!
  • #11,586
  • Oct 22, 2025 5:07pm Oct 22, 2025 5:07pm
Quoting TimeTells
{quote} Hi Vid Yes, 3.2 pips (if i read it correctly) on O's chart is far higher than normal for GBPJPY from my broker and I don't enter trades during those higher times (which are usually outside of solid liquidity being present, or news happenings, or the day rollovers) I trade usually on a GJ spread of 1.1 to 1.4 pips, which bothers me not as a trade or profit function, which to me is when I ddiscretionary TP (or SL lol when the spread adds) Here's an (edit: mt4) spread indicator that I use if it helps anyone So as not to have both bid & ask...
Thanks for your kind gestures! It warms the heart hearing that! So well. Which broker do you use? Remember we trade differently via timeframes
  • #11,587
  • Oct 22, 2025 5:32pm Oct 22, 2025 5:32pm
Quoting oluchukwu01
{quote} you got to understand any currency paired with Yen must have more spreads!

  • #11,588
  • Oct 22, 2025 5:40pm Oct 22, 2025 5:40pm
Quoting oluchukwu01
{quote}
Thanks for your kind gestures! It warms the heart hearing that! So well.
Which broker do you use?
Remember we trade differently via timeframes

Cheers O, yes.

And
Regarding Brokers I am in Australia with two ASIC regulated live accounts.
I don't (won't) mention them by name as I will not be a recommender of any brokers, that is up to each person imo to do their due diligence

I run two live accounts but one I will ONLY use for its charting (and posting)
but NOT for any trading and I have my personal reasons

The other live account is the one I trade and (will occasionally) post up a completed trade chart result for observation, though I don't even like doing that.

Traders imo should not be comparing themselves or their charts to others but should be learning to finesse what they have learned & impliment themselves.
(there is no one way to trade OR one way that is BEST, imho)

My trading is a composite of everything I have ever read & discussed with valued traders,
and ONLY after I have understood MY personal way via the use on a Trade Simulator for hours & hours.

All the best again
  • #11,589
  • Oct 23, 2025 1:42am Oct 23, 2025 1:42am
Quoting oluchukwu01
Market is trading on a support zone and also respecting the my black and red trendline, With that saying. I'll stay long in as much further confirmation comes in {image}

Final outcome for yesterday
Trendline
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  • #11,590
  • Oct 23, 2025 1:55am Oct 23, 2025 1:55am
Quoting TimeTells
{quote} Cheers O, yes. And Regarding Brokers I am in Australia with two ASIC regulated live accounts. I don't (won't) mention them by name as I will not be a recommender of any brokers, that is up to each person imo to do their due diligence I run two live accounts but one I will ONLY use for its charting (and posting) but NOT for any trading and I have my personal reasons The other live account is the one I trade and (will occasionally) post up a completed trade chart result for observation, though I don't even like doing that. Traders imo should...
Never will I compare Sir! I long for cooperate in this thread, I'm just 9 month old on FF. TBH! I had looked forward in learning more form you the great master TimeTells let today brings its own blessings
  • #11,591
  • Oct 23, 2025 3:20am Oct 23, 2025 3:20am
Quoting oluchukwu01
{quote} Never will I compare Sir!

Hi O

Mate let’s get one thing straight right here & now please hahaaa.

I am a trader, no more no less, that is all.

When I say compare, all I mean is all traders should find & stick with THEIR way, not someone elses (once they grasp a concept).

This game, no one can be on a pedestal
as the market will humble us all,
myself include believe me.

All I suggest is to trade safe first, then trade well, and then keep doing it your way

Best of fortunes
  • #11,592
  • Oct 23, 2025 3:34am Oct 23, 2025 3:34am
Quoting TimeTells
{quote} Hi O Mate let’s get one thing straight right here & now please hahaaa. I am a trader, no more no less, that is all. When I say compare, all I mean is all traders should find & stick with THEIR way, not someone elses (once they grasp a concept). This game, no one can be on a pedestal as the market will humble us all, myself include believe me. All I suggest is to trade safe first, then trade well, and then keep doing it your way Best of fortunes
That motivates me! Thanks buddy! What did you mean trade safe?
  • #11,593
  • Oct 23, 2025 4:17am Oct 23, 2025 4:17am
Quoting oluchukwu01
{quote} That motivates me! Thanks buddy! What did you mean trade safe?
Know your Finacial Trading Limits and keep Trading within them what ever happens, that is Trading Safe
Keeping to your Financial and Trading Limits when things start to go wrong is the difference between Winning and Losing in the LONG TERM
  • #11,594
  • Oct 23, 2025 4:52pm Oct 23, 2025 4:52pm
Okay, back to the business of some chart reading


USDJPY
An Inside Bar day followed by a Breakout day (doesn't 'always' happen like that tho)
What are some of the intraday signs happening at the time

.
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  • #11,595
  • Oct 23, 2025 6:16pm Oct 23, 2025 6:16pm
and the GBPJPY
same stuff

.
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  • #11,596
  • Oct 23, 2025 9:55pm Oct 23, 2025 9:55pm
Quoting TimeTells
An Inside Bar day followed by a Breakout day (doesn't 'always' happen like that tho)
What are some of the intraday signs happening at the time.

Quick update
Asia is over for me now, would look back in pre Franky-London

USDJPY

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  • #11,597
  • Oct 24, 2025 5:38pm Oct 24, 2025 5:38pm
Enjoy your weekend folks

Back next week for their end-of-month shennanigans


GBPJPY
USDJPY

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  • #11,598
  • Oct 26, 2025 4:53am Oct 26, 2025 4:53am
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It never gets easier, you just get better
  • #11,599
  • Oct 26, 2025 4:44pm Oct 26, 2025 4:44pm
Cheers Shabs
One more hour of the market's monkey business time between Asia & Franky-London opening


Midweek both the CAD and the USD do their Red News RATES thingy

And on Thursday the JPY do their Red News RATES thingy

WHILE

All happening within an End-Of-Month book balancing till Friday predominantly by the big players


Trade safe, trade well all
  • #11,600
  • Oct 27, 2025 4:44am Oct 27, 2025 4:44am
OFC the USA will always lag behind, just to be different, and change their clocks back one hour on the 2nd November after Halloween.
It never gets easier, you just get better
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