thanks Sperion,It sounds like there is a lot more to consider...

thanks Sperion,

It sounds like there is a lot more to consider when you are talking about very short time frames

Im more interested in longer time frames - what the exchange rates are at the minute by minute level and trading say once every hour

I would guess that any FX trading strategy you come up with needs to consider the time of day as spreads and volatility change

Have you ever done any "Time of Day" analysis? I have read twice now gold/silver is bought during the asian sessions and sold during US sessions

this is something that interests me, because I theorise that algo trades become self fulfilling prophecies and these trends could become re-inforced - a bias emerges, and then newer systems measure it and then piggy back on the trend and the effect snowballs