Opinions on ESMA & Financial Markets

Check this out and see how algorithms are trading against us!!! Total disregard for trend lines, averages and technical indicators. Turning the markets into a casino!!! Totally goes against all logic and common sense!!!

NottsBlade posted:
Check this out and see how algorithms are trading against us!!! Total disregard for trend lines, averages and technical indicators. Turning the markets into a casino!!! Totally goes against all logic and common sense!!!

The reason I prefer bidirectional trading strategies that don’t rely on technical analysis.
Or perhaps you have a bucket-shop broker manipulating price feed?

Lol that's EURCHF
For technical analysis to work, you need to trade an instrument that is popular among other trades. EURCHF is just a modified version of EURUSD and USDCHF - a version with very much noise and no technical opportunities.
Trade EURUSD for better technical reliability, but the random noise will surely be still there, especially on lower timeframes.

5astelija posted:
Lol that's EURCHF
For technical analysis to work, you need to trade an instrument that is popular among other trades. EURCHF is just a modified version of EURUSD and USDCHF - a version with very much noise and no technical opportunities.
Trade EURUSD for better technical reliability, but the random noise will surely be still there, especially on lower timeframes.

Random noise? EURCHF is definitely a manipulated pair - has everyone so soon forgotten the Swiss NB peg to the Euro, which eventually collapsed in January 2015? https://admiralmarkets.com/analytics/traders-blog/price-shock-when-the-swiss-national-bank-unpegged-the-swiss-franc-from-the-euro

Don’t think for a second what China does, does not also occur with other currencies. Although the SNB doesn’t hold a hard peg officially, they have a certain monetary stance, as do all central banks, and all currencies are manipulated as best as the respective central banks (The Fed, Bank of England, etc.) can achieve, considering their limited resources compared with the total daily forex volume of $6 trillion per day.

Anybody trading S&P 500 or oil check out the above charts

Don't you realise our futures, our livelihoods the health of our economies are in the hands of Artificial Intelligence because bankers haven't got the time, resources or common sense to sort it out themselves and it's small retail traders like us who are paying the price. Back to Pre Thatcher days when the market was closed to the masses.

One electronically driven market maker has a daily turnover of $120bn and has less than 100 employees. What does that say about the future and how can that be justifiable.

City Of London will become a ghost town just like our city centres!!!

I'll tell you the truth and this may startle you, but I think it's too late. We've lost control of the algorithms in the financial markets and we can't stop them now, there's no way of controlling them. They are out of control and will continue to get out of control and be uncontrollable!!!


I heard a small voice that said there was no way to stop them now!!!

Firstly your charts are a mess. Are you seriously looking at a 1 minute chart of EURCHF?

Secondly, there are plenty of examples in the charts you posted where support and resistance are well respected. The last chart you posted, for example. The longest blue candle (June 29), this shows an imbalance of buyers at that price level with very little order flow on the other side of the book. You'd expect at least price to stall at that level once it gets back there, provided not too much time has passed or something in the fundamentals of that market have changed. Low and behold on July 2nd price did get back to that level. What happened? Price held, bulls returned to buy around that price. On this particular chart the same thing happened on June 22/25/27.

This stuff ain't rocket surgery. Find where the buyers and sellers are, find where price is attractive to the bulls and the bears, find where price imbalance is likely to be and trade it. All of that other **** you have on your charts is just getting in the way. Get rid of it.

Forex itself is a rigged market. You are seeing what your broker allows you to see. If you have any sort of volume, it's not the total volume of a particular pair across all brokers, it's the volume at your brokerage. FXCM got nailed for taking the other side of trades of their clients. They paid a giant fine, but do you think they actually lost money? Hell no. The fine was just the cost of doing business.
 That's why they don't operate in the US market anymore. You don't want a rigged market or a rigged system then stop trading FX. Otherwise, realize what it is and work with or around it.

https://www.financemagnates.com/forex/brokers/breaking-cftc-levies-7m-fine-fxcm-forced-quit-us-market/

Lastly, you will get absolutely nowhere blaming other people and other things. When you do this you fail to acknowledge your own faults. EURCHF can be traded profitably. If you can't trade it without losing money then that's your fault, not the boogyman's.

You watch all the big market moves happen following the start of ESMA's new rulings!!! Everything will start moving and start trending big time!!!


Probably won't now cos I've said something!!!

Small retail traders who have dedicated years to learning are being robbed by these new rulings and as I keep saying it is just another ploy by the rich few to keep it in the hands of the few. If you don't wear their tie you can't be in their club!!!

If they're that bothered about traders taking risk etc, why aren't they stopping people from betting on horses, why aren't they stopping sports betting and why aren't they closing casinos? ESMA, FCA and SEC etc are all in the bankers pockets they're all part of the same club - the rich few!!!

I for one have nothing to live for following these new rulings, no future, no purpose. I might as well call it a day!!! Goodbye world!!!

FxMasterGuru posted:
@TiffanyK

You are right, trading can be a socially more acceptable disguised gambling addiction. A friend of mine has committed suicide due to trading related losses and threats from loan sharks. It was pretty sad. Nevertheless, ESMA regulations will be easily bypassed by traders with addiction problems, i.e. by those who feel the irresistible urge to trade/gamble with funds they cannot afford to lose simply by moving their accounts to ASIC regulated or off-shore brokers. It is simple as that.

So what will the ESMA regulations achieve finally in this regard...? Seriously... My guess is that it is just a symbolic act, so they can ''wash their hands'' as Pontius Pilate did according to the Bible...

Wow, lots of posts deleted in this thread...

ComebackKing posted:
Firstly your charts are a mess. Are you seriously looking at a 1 minute chart of EURCHF?

Secondly, there are plenty of examples in the charts you posted where support and resistance are well respected. The last chart you posted, for example. The longest blue candle (June 29), this shows an imbalance of buyers at that price level with very little order flow on the other side of the book. You'd expect at least price to stall at that level once it gets back there, provided not too much time has passed or something in the fundamentals of that market have changed. Low and behold on July 2nd price did get back to that level. What happened? Price held, bulls returned to buy around that price. On this particular chart the same thing happened on June 22/25/27.

This stuff ain't rocket surgery. Find where the buyers and sellers are, find where price is attractive to the bulls and the bears, find where price imbalance is likely to be and trade it. All of that other **** you have on your charts is just getting in the way. Get rid of it.

Forex itself is a rigged market. You are seeing what your broker allows you to see. If you have any sort of volume, it's not the total volume of a particular pair across all brokers, it's the volume at your brokerage. FXCM got nailed for taking the other side of trades of their clients. They paid a giant fine, but do you think they actually lost money? Hell no. The fine was just the cost of doing business.
 That's why they don't operate in the US market anymore. You don't want a rigged market or a rigged system then stop trading FX. Otherwise, realize what it is and work with or around it.

https://www.financemagnates.com/forex/brokers/breaking-cftc-levies-7m-fine-fxcm-forced-quit-us-market/

Lastly, you will get absolutely nowhere blaming other people and other things. When you do this you fail to acknowledge your own faults. EURCHF can be traded profitably. If you can't trade it without losing money then that's your fault, not the boogyman's.


Firstly my charts are not a mess and secondly you're talking a load of **** yourself!!! I know my stuff and I know that myself and other small traders are being traded against on a regular basis, we just get the crumbs whilst the big players get the bankquet!!! It's not what you know that matters it's who you know!!! Banks, brokers, politicians, economists, regulators, the Oxford jet set are all part of the same club - the establishment!!!

I can't believe just how caring and considerate ESMA are. The fact that they care so much about me - a small retail trader that they want to protect me from losing money despite having negative balance protection in place.

Just wondered why the European Union hasn't put restrictions on other areas of gambling e.g. Euro Lottery, Sports Betting, Casinos etc.

If they're comparing trading in the financial markets to gambling then that just shows how far its reputation has fallen. Who turned the markets into a casino - the bankers themselves and yet it is small traders like myself who are being punished.

All they care about are the banks and the brokers and preventing ordinary people from having the same opportunities as other participants in the market to make a living.

Well they ain't protecting me because once these restrictions are in place I basically have nothing to live for. Everything I've worked towards for the past several years, all the time, energy and passion I've dedicated will have been wasted. It's a bit like telling a doctor who has studied hard that their skills are no longer required.

They should enjoy it whilst they can because I know that Jehovah will not allow them to get away with this - there will be consequences!!!

Like I said before their focus should be on the bankers themselves and their algorithms, but then I forgot they can't control them because they've already lost control of them already. Basically they've put the futures and livelihoods of millions in jeopardy. This is why the financial markets have become like a casino!!! It will not be long until an economy is bankrupted in nano seconds!!!

How can it be justifiable to have one electronically driven market maker with a turnover of $1.2bn daily and yet all it has is less than 100 employees? How can it be justifiable that the banks, brokers, the rich - those with an investment portfolio of £500,000 are given preferential treatment compared to smaller retail clients. The financial markets are worth trillions of $'s and yet you just want to keep it in the hands of the few. The elite 1 - 10%!!!

City of London will become a ghost town just like our city centres because of the wealthy few.

ComebackKing posted:
Firstly your charts are a mess. Are you seriously looking at a 1 minute chart of EURCHF?

Try telling that to the 100's of traders on Tradeview and elsewhere: https://www.tradingview.com/

Where do my trend lines on WTI come from? How did I get hold of that information to draw in those trend lines. I'm an analyst, I accept I'm not perfect but I'm learning all the time and I'm getting better at it all the time!!! For what it's worth cos at the end of the month it will not be worth trading anymore!!!

ComebackKing posted:
Firstly your charts are a mess. Are you seriously looking at a 1 minute chart of EURCHF?

I support your comment in a small way - but I'm not an algorithm, I'm human and unlike an algorithm I can only analyse what I see and with what historical information is available to me. Sometimes my charts get cluttered with trend lines, Fibonacci levels etc, that's why I tend to leave out other indicators like MACD, RSI and Stochastics because I only have a small workspace unlike algorithms who have access to everything and can process information in nano seconds!!! In other words - I'm not a poxy robot!!!

......and unlike bankers and economists who predict where price is going to go. I'm not able to cos what I think means nothing, my word means nothing. All they want is to prove that they are right and small traders are wrong!!! You'll see headlines on Bloomberg this broker, this bank predicts this, predicts that and they'll get proved right and they'll back each other up to prove their right because they don't want to lose credibility, but somebody like myself - small retail traders will always be wrong!!! We'll always end up with egg on our faces no matter how much we try to excel!!!

ComebackKing posted:
Firstly your charts are a mess. Are you seriously looking at a 1 minute chart of EURCHF?

Secondly, there are plenty of examples in the charts you posted where support and resistance are well respected. The last chart you posted, for example. The longest blue candle (June 29), this shows an imbalance of buyers at that price level with very little order flow on the other side of the book. You'd expect at least price to stall at that level once it gets back there, provided not too much time has passed or something in the fundamentals of that market have changed. Low and behold on July 2nd price did get back to that level. What happened? Price held, bulls returned to buy around that price. On this particular chart the same thing happened on June 22/25/27.

This stuff ain't rocket surgery. Find where the buyers and sellers are, find where price is attractive to the bulls and the bears, find where price imbalance is likely to be and trade it. All of that other **** you have on your charts is just getting in the way. Get rid of it.

Forex itself is a rigged market. You are seeing what your broker allows you to see. If you have any sort of volume, it's not the total volume of a particular pair across all brokers, it's the volume at your brokerage. FXCM got nailed for taking the other side of trades of their clients. They paid a giant fine, but do you think they actually lost money? Hell no. The fine was just the cost of doing business.
 That's why they don't operate in the US market anymore. You don't want a rigged market or a rigged system then stop trading FX. Otherwise, realize what it is and work with or around it.

https://www.financemagnates.com/forex/brokers/breaking-cftc-levies-7m-fine-fxcm-forced-quit-us-market/

Lastly, you will get absolutely nowhere blaming other people and other things. When you do this you fail to acknowledge your own faults. EURCHF can be traded profitably. If you can't trade it without losing money then that's your fault, not the boogyman's.

Succinctly put.