@ForexTraderIreland Hi, Could you delete all my comments please and your own replies to them (so basically the whole chat). Thank you
UnknownUnicorn1497595
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@harshpreet.singh18, Hey sorry have been busy till now doing sessions over the weekend but I don't think I can delete the comments on my side
harshpreet.singh18
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@ForexTraderIreland, Ah okay fair enough. Well good chatting with you, its been productive. Wish you all the best and the team keep smashing it and I hope you make £10 million this year. Bye
harshpreet.singh18
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I can't believe I wrote Sam Siedon for legends hahahahaha I was really thinking about someone else but got the names wrong . anyways....no more talking? What happened man...u don't wanna give the info for free anymore? lol
harshpreet.singh18
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I just got home from work and started looking for an example of things we spoke about... and by looking at the GBPUSD Daily chart. It looks like when the most recent Daily up trend started in March/April 2017.... They basically expected the GBPUSD exchange rate to go up over the next 12 months and accumulated loads of GBP. Now that the exchange rate has gone up from the 1.20's in April 2017 to the 1.40's in Apr 2018, a rise of 24% - when that happened...They believed the rate would go down for whatever reason and decided to Buy loads of Dollars using the GBP they accumulated previously or even by using any other currency they are holding not necessarily the pound, bottom line is they are buying Dollars, so there giving £1, getting $1.40, and doing that over and over again whilst the rate goes to 1.39, 1.38, 1.37, 1.36 and so on....if they had got ridden of all of their GBP holdings at 1.40, they would have exactly 24% more dollars than they started off with. But because the rate had been going down due to them Buying more and more Dollars, the profits they make decrease. But anyway.... now that the Dollar is valued higher Vs. GBP than it was in February 2018 (from the 1.44 area) - it will probably fall some more. Because they felt for some Macroeconomic reason it would fall from the 1.40's so why only to the current 1.34 and why not 1.31 or 1.29? Because that would be 50% or 60% of the 24% rise since Apr 2017. Lastly, once they accumulate their dollars now, and keep the remaining GBP profit in the pocket. They will have both currencies in their holdings. They can use it to provide liquidity or however they wish. They can also use the new bought Dollars to purchase something else at a exchange rate which they believe to too low based on maybe economics? Or they may be just Buying the Dollars to 1) profit and 2) create a nice low price for some other asset which they believe will go up, but are planning to buy at a much lower price? and when that process begins, the Dollar is going to fall in value against other currencies again. But at the moment, maybe they are just cashing in on positions from 2016/2017, accumulating Dollars (ammunition) and also other currencies as profit which also serve as ammunition. I know its the weekend, and your probably enjoying your Friday night haha...but I will await any comment you make on this. Thank you
harshpreet.singh18
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Last thing.... if I want to Buy 500million USD. I thought that there has to be somebody selling me the 500million USD. But if they were, they would be SELLING IT in exchange for my currency. Then they would be sitting with that, and I would sitting with this. Until we swap again LOL and the exchange rate would stay the same forever....sh*t!
BUT...that is obviously wrong. and the exchange rate does not stay the same, it changes because when I Purchase 500 million USD it increases the value of it because I am demanding it and maybe so is everybody else. This is happening whilst the other currencies value perception just stays the same as before creating a new exchange rate ----- am I wrong?
UnknownUnicorn1497595
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@harshpreet.singh18, Good and I don't want to be a prick but I just reacted when you called it all rubbish haha. It's all fun at the end of the day we are 2 strangers. But anyway, if you want to buy 500 million there has to be 500 million US available. So let's say there is net 1 billion short on EUR/USD, then there is 500 million in USD exchanged back for euro (bought euro back) that's why the exchange rates pullback 50%. But now there is 500 million available to buy in USD, which drives the exchange rate back to where it was in the first place
But you have to see that it's not so simple as this. Im not sure you can visualise this but I'll give it a go. You see institutions have holdings in currencies, so that's now we majority of them are liquidity providers. So when they have EUR available to buy and also USD available to buy, then people in buys and sells the same buyers then have holdings that can be sold, and sellers have positions that can be bought and all these are the reason for the positions available at every single price, 5.3 trillion a day volume so that shows you how much money is actually floating around all day
harshpreet.singh18
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@ForexTraderIreland, Lol No bother - Nah I was just really annoyed because I did not understand. But I know its not all rubbish what you talk about, I have watched your Youtube videos. They should have the same amount, if not, more views than the guys on youtube teaching about the Three Legged Man candlestick pattern LOL.
Yeah no I see what your saying and understand it to an extent, I am going over it though to let it sink in properly. If possible, could you do a little Youtube video with examples using a real chart please? It would really help, because we don't usually come across this kind of educational material on there. I am already subscribed to the channel
harshpreet.singh18
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I am going elsewhere, doesn't mean to your Instagram friends uncle ted and them. I am talking about certified traders. Sam Seiden and other legends I study from. Who are you.
UnknownUnicorn1497595
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@harshpreet.singh18, Go elsewhere why would I need you lol, never even were with me at all, you're just a commenter on my page haha. I am not friends with Ted, and I don't have instagram anymore i don't need people to make my living. And certified traders who passed a couple of exams, all of a sudden their certified? You mean the same guy who is an instructor at a company who took 25k from one of guys and all they taught was carry trades? hahaha give me a break, doesn't matter who I am, I know who I am. People who talk to me nicely and can take my advice on board and spend a lot of time with me, they can know who I am, people like you on the outside can keep hating, this tradingview is just for ideas, i've not traded an account in months, so my positions aren't posted here obviously. But if you want to see the myfxbook of the next account I trade you're very welcome to check it out :)