Unwrapping Markets from Broker to Trading.

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Broker Platform Updates

ThinkMarkets: Cash In EAs Offer

ThinkMarkets has replaced its welcome bonus with an offer to traders to cash in their Expert Advisors for a trading credit up to $/£250, T&Cs apply. Read more about this broker: ThinkMarkets Review.

Markets.com Stops Bonus, Keeps $25 Registration Offer

In accordance with new CySEC regulations, Markets.com has discontinued its bonuses. Markets.com's $25 pre-deposit offer remains. Read more about Markets.com.

Nadex Fee Holiday Offer

Regulated US binary options exchange Nadex is offering traders a holiday from trading fees for deposits from $500, T&Cs apply. In December, Nadex also changed its fee structure and stopped offering Bitcoin. Read more about this exchange: Nadex Review.

IG Reduces Forex Spreads

The minimum spread on EUR/USD and AUD/USD is now 0.6 at IG. The spreads reduction applies to minimum spreads, average spreads and DMA spreads. Read more about IG and its spreads and IG DMA.

TopOption: No More Bonuses

In accordance with CySEC circular C168, TopOption has stopped offering bonuses. TopOption has also made a major overhaul of its trading platform with features such as a social feed and adjustable payouts, along with 30 second trading. Read more about TopOption's platform.

easyMarkets Replaces easy-forex

easy-forex has been rebranded to become easyMarkets. From Friday 16th December 2016, www.easy-forex.com will redirect to www.easyMarkets.com. easyMarkets has also changed its minimum deposit to $100. Find out more about this broker: easyMarkets Review.

IQ Option Stops Offering A Deposit Bonus

In accordance with a CySEC circular C168, IQ Option has stopped offering a deposit bonus. Its other features are not affected. Found out more about this broker: IQ Option Review.

IG Has A New Platform

IG is introducing a new trading platform which includes features such as fly-out charts and menus, aimed at creating a more intuitive platform experience for the trader. Read more about IG's new platform and find out what's happening to the classic platform.

IG Binaries Replaced

IG Binaries is no more and has been replaced by Digital 100 binaries. Read more about Digital 100 binaries.

IronFX Lowers Its Minimum Deposit

IronFX has lowered the minimum deposit on its Micro account to $100, down from $500. Minimum deposits for its range of other account types stay the same. Read more about IronFX and its trading conditions.

HighLow Platform Update

Australian broker HighLow has upgraded its trading platform to HighLow 2.0, which now includes 30 second trading. Read more about HighLow's new platform and its features.

ThinkForex Rebranded To ThinkMarkets

ThinkForex has become ThinkMarkets. Read more about this broker, its trading platforms and its spreads: ThinkMarkets Review.

Volatile Markets & Forex

Volatility is a feature of markets, part of the regularities which characterise the behaviour of Forex pairs. It can be seen on a recurring basis, for example around news events and towards close of markets on Friday.

However Forex pairs can also become volatile, that is pairs can display volatile responses to events. As volatility can be seen around news events, it can also be seen on what might be termed larger scale news events, such as the Brexit vote. The focus of these events, the currency which is tied into the locus of the events, may display a greater tendency to volatile reactions, but it can also be seen in other pairs, perhaps to a lesser extent, depending on the currency or the nature of the event.

So what might volatility be characterised as ? It can be seen as irregular and large responses, because of some larger context within which the pair is enmeshed, for example market close, or a market responding to a revaluation, or a new landscape. These kinds of responses make volatility hard or unwise to trade. Even if a stop-loss is used, sharp movements back and forth can wreak havok with one. So the usual protections can become problematic.

However if a market has become prone to volatility, then a stop-loss might still potentially provide protection, if the sudden volatility takes place within a more usual set of market responses, such as trends, ranges and quiet moments before trends or ranges, or is characterised by sudden directional movements, rather than oscillations (which can be typical of recurring news events).

On a more speculative level it might be said that volatility can in some cases be an end or a beginning, that is volatility can be seen on charts around market turns or changes in the way a pair is moving, whether on short term or longer term charting.

Featured Post

Can The One Minute Chart Help Traders ?

It is possible to consider the one minute time frame on the chart important for a number of reasons. For example, that it can show patterns ...

10 January 2017

Long versus Short Term Time Frames in Forex

The markets have been under the long shadow of the crisis of 2008 and looked at only in terms of the Dow and similar US market indices, it can be seen that recovery happened, and indeed the Dow itself is looking at 20,000, that is it exceeded its pre-crisis highs. However currencies move in more complex ways that the Dow, as there is both up and down, and reasons for seeing either as good or as bad, and changing these views as well.

But one could look at the movement of currencies and look for structures (or long term patterns in value) in the way they move and say has that structure continued, and is it a good one. Asking whether it is a good one or a bad one, is problematic. This is because long upward or downward trends can be good (or bad) for traders, but is this necessarily what is wanted in a currency considered in its functional role, that is stability with ranges may be more preferred to some extent for a time, in terms of the wider context of currencies, depending where those ranges are.

Will the events of this year, either create new long term structures or bring it back to the way it was. One pointer to this possibility, is someone old and something new, that is the return of Fed Funds rate rises. That's the way it was before the crisis, and the extended low interest rates could be seen as affecting currencies and they way they move.

So will the return of rising rates, change both of these markets, or will any effect be delayed or altered by changes which may have occurred since 2007. A point about markets is that they are influenced by current events, but what they really look to is the future. Not the future as it happens, but the future as it is expected at the time of news release, in the case of news events, and then the future over varying time frames. Thus the major change seems to happen when the surprise happens and what actually happens can be less immediately dramatic, but significant nonetheless.

As currencies move back and forth they tend to return to the same value. This has the effect of making support and resistance important in currencies. The Dow has a direction, and retracements will tend to find support on trend lines, not on past value, on the long term view.

In currencies, support is not support in this sense it is more like regions at which changes may occur in present momentum and direction. So in currencies support is more like actual resistance, in moves which can favour either direction. The effect of external events on currencies can cause immediate changes in volatility which can then end up with changes in direction, perhaps contingent on support or resistance. While the Dow could be seen as responding to changes, within constraints of support and resistance, until these can be overcome. Thus support is support, which at some stage holds, or does not hold. In the crisis it held, eventually and a provided a base with readjusted potential.

When a currency returns to a past support level it is not particularly referencing the past, in the way the Dow might. This is because certain events can cause major drops in the Dow, and these have a certain similarity. This can be the case in currencies, and indeed interest rates can be seen as a recurring event which makes a current price reference past events.

But it is also possible for a currency to return to past value in an entirely different situation, if the motive for such moves is seen as a set of initial conditions from where the currency can move, but within patterns set to some extent by the market it is in. The difference may stem from what it is that these instruments are made of, that is the Dow references to some extent the growth of a set of companies and Forex references a set of complex relative valuations of currency pairs.

The capacity for Forex to move within patterns, where up and down is valid, makes for a freedom in valuation in this market. Trading can be seen as enhancing the patterns and this sense of valuation freedom, as it may tend to access detail within moves which ultimately have a reference to external events. So it is not simply that complex moves occur, because directional moves can be evident on time frame and extended in real time on longer term time frames. It is rather that within even these moves are complex moves which trading provides a window into. Which means that what pattern is playing out around value can be as crucial as what resistance or support the pair is near. So short term time frames can be seen as potentially getting into the detail of the complexity of moves, rather than merely fluctuations.