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    From doleta.gov

    In the week ending March 23, the advance figure for seasonally adjusted initial claims was 357,000, an increase of 16,000 from the previous week's revised figure of 341,000. The 4-week moving average was 343,000, an increase of 2,250 from the previous week's revised average of 340,750. The advance seasonally adjusted insured unemployment rate was 2.4 percent for the week ending March 16, unchanged from the prior week's unrevised rate. The advance number for seasonally adjusted insured unemployment during the week ending March 16 was 3,050,000, a decrease of 27,000 from the preceding week's revised level of 3,077,000. ... (full story)

no impacts?
Gold will up or drop ?
No impacts= bad luck & tough luck
gold will up or drop= depents on the markets
yea...everything depends on the market
what a boring week it has been ...price not setting itself up for anything....all random rangebound movement especially for gold.....
gold should make a new low and then move up
only because i have bought a small lot at 1602
my charts didn't allow me to buy but i can't remain out and bored forever
push me up euro..
Quoting Fx Hiflyer
what a boring week it has been ...price not setting itself up for anything....all random rangebound movement especially for gold.....
Only clueless "traders" say price movement is random. It never is. It's always nicely precise, you just gotta learn how to "read " it.
The movement of price is not precise and to all intents it is random and unpredictable. This 'game' (and it resembles game theory far more than most will accept) has two critical success factors; risk and probability. Once you're reached a comfortable level of tolerance, understanding and variance for both you've got a good chance at reaching success in this industry.

Quoting Mong00se
Only clueless "traders" say price movement is random. It never is. It's always nicely precise, you just gotta learn how to "read " it.
Quoting Mong00se
Only clueless "traders" say price movement is random. It never is. It's always nicely precise, you just gotta learn how to "read " it.
agreed ...market is not random........and i am learning how to read it....but how it moves in it's intraday range is impossible to predict...
the movement in crude this week was predictable...thanks to price action
Price action is the effect not the cause.
ofcourse price action is not the cause....but the only way market can be predicted and should be traded...........sooner or later you will know!
Let me tell you that with over 20 years of investment experience I (and various colleagues who have taken millions out of this market) have found price action to be no more reliable than using a set of indicators to predict where price is headed, I use neither preferring to relying on critical levels.

I'm not sure how long, or how financially painful the experience will be until you realise that, but good luck with it anyhow.

Quoting Fx Hiflyer
ofcourse price action is not the cause....but the only way market can be predicted and should be traded...........sooner or later you will know!
offcource reading the market trends is added value but there r market mover too who atonce change the whole scenerio on just one small thing.. where u can take it han??
[quote=Squeeze;6555856]Let me tell you that with over 20 years of investment experience I (and various colleagues who have taken millions out of this market) have found price action to be no more reliable than using a set of indicators to predict where price is headed. I'm not sure how long, or how financially painful the experience will be until you realise that, but good luck with it anyhow.[/quote

i have seen various price action methods to be useless.....but the same charts can be read differently and predicted with more accuracy than any other method i know............and if you are suggesting that traders should rely on news other than anything else than you are real mistaken........i have been a fundamental trader previously and it is no good......i don't need to take your advice on this only because i can see for myself what is obvious....my first hand experience tells me you are absolutely wrong
Quoting sfurqan
offcource reading the market trends is added value but there r market mover too who atonce change the whole scenerio on just one small thing.. where u can take it han??

yes the market movers......that is where price action is even more fruitful ...for me atleast............on days of important news releases market makes it's moves in a sec before you are done clicking on the datas on this site...where will you stand then?...nowhere...thats where i have been standing since very long!
Quoting Fx Hiflyer
yes the market movers......that is where price action is even more fruitful ...for me atleast............on days of important news releases market makes it's moves in a sec before you are done clicking on the datas on this site...where will you stand then?...nowhere...thats where i have been standing since very long!
dats good for you but i think the luck also play vital role.. since behind understanding price action there is major part which is called prediction which can be wrong...
Arrogance, immaturity and ignorance is a dangerous and combustable cocktail to possess and display in this industry. You also need to concentrate on what I stated rather than making assumptions and jumping to conclusions. I'm within reaching distance of a company and department that has tried, tested and archived hundreds of methods over the years in an attempt to 'read' the markets and arrived at the conclusion that there are none that will predict with any form of regularity. Which leads successful traders to concentrate on the only constants available.

I'm not particularly interested in debating this with you, suffice to say that whilst you have had a 'boring week', personally I've enjoyed 7% individual account growth this week and will probably finish on that. The amount of effort that has taken is negligible and on a reasonable account size is very satisfying.

Here's one thing I'll leave you with, I actually mentioned this to another board member a while back; ask yourself is it possible to automate your trading edge and is it simple enough to operate from a smartphone? If so you have an edge from which you can, with the required discipline, extract significant revenue from this market. If not you're nowhere...


[quote=Fx Hiflyer;6555927]
Quoting Squeeze
Let me tell you that with over 20 years of investment experience I (and various colleagues who have taken millions out of this market) have found price action to be no more reliable than using a set of indicators to predict where price is headed. I'm not sure how long, or how financially painful the experience will be until you realise that, but good luck with it anyhow.[/quote

i have seen various price action methods to be useless.....but the same charts can be read differently and predicted with more accuracy than any...
And where is the real unemployment?????
Quoting Squeeze
Arrogance, immaturity and ignorance is a dangerous and combustable cocktail to possess and display in this industry. You also need to concentrate on what I stated rather than making assumptions and jumping to conclusions. I'm within reaching distance of a company and department that has tried, tested and archived hundreds of methods over the years in an attempt to 'read' the markets and arrived at the conclusion that there are none that will predict with any form of regularity. Which leads successful traders to concentrate on the only constants...


i am anything but arrogant.....and yes i have traded from my smartphone but i am not comfortable automating my trades......and i don't get your point either!!......when i started trading a friend of mine who is a research analyst in a firm used to give me the same statements about price action as you are giving right now..that they have tested absolutely everything and something that works for straight 6 months goes sour the next month.....so i also use to concentrate more on fundamentals too but this is so not the case...

as for me having a boring week ...i did make pips in crude ...but gold absolutely gave me nothing this week......i don't like trading small ranges anymore...and as for your account growth ...good for you.......i know gamblers who double their big accounts and sometimes more every month..and they know absolutely nothing about price action or fundamentals...so making money is not the only criteria to judge ...consistency matters....price action will help you only if you allow it to let you enter a trade...and when it does ...you don't have to worry about losing your money
Quoting sfurqan
dats good for you but i think the luck also play vital role.. since behind understanding price action there is major part which is called prediction which can be wrong...
abay yaar........ kismat bc tou waise phoote huwe hai..uspai kya rely karna!!!.....oar news waghera per bhe tou prediction hee karogay na...its just that price action is more reliable!
You've clearly revealed just where you are in relation to trader evolution, it takes time, "can you fund it"? is a question for you to deal with.

Your referencing gamblers is apt, as in relation to risk (on my day trading activities) I average 0.23% risk on each trade that my edge automates. My average loss is actually less than 0.2% of my account given my use of dynamic trailing stops.

Price action is less reliable than indicator based methods given that with indicators traders have clearly defined exit and entry points as well as pre defined targets. With PA there's far too much discretion which comes back to the question of automation and risk, two subjects that have passed you by, subjects I doubt you've correctly addressed in even the most basic, simple trading plan.

Quoting Fx Hiflyer
i am anything but arrogant.....and yes i have traded from my smartphone but i am not comfortable automating my trades......and i don't get your point either!!......when i started trading a friend of mine who is a research analyst in a firm used to give me the same statements about price action as you are giving right now..that they have tested absolutely everything and something that works for straight 6 months goes sour the next month.....so i also use to concentrate more on fundamentals too but this is so not the case...

as for me having a...
Quoting Squeeze
You've clearly revealed just where you are in relation to trader evolution, it takes time, "can you fund it"? is a question for you to deal with.

Your referencing gamblers is apt, as in relation to risk (on my day trading activities) I average 0.23% risk on each trade that my edge automates. My average loss is actually less than 0.2% of my account given my use of dynamic trailing stops.

Price action is less reliable than indicator based methods given that with indicators traders have clearly defined exit and entry points as well as pre...

haha indicator based methods give you exit and entry points ....u got to be kidding me.......actually they do ..but they don't work!.................plus i have seen price action do wonders..not like i can read it like loaded .....but i know it works and i know i can't convince you so i will not push it further.......................and those who are confident enough to automate their trades are the only ones who will take money out of this market is the most stupidest thing to say.......as for not exposing risk..that is the only thing i do right so don't you worry
Once again you're confused and ignorantly conflating my statements. You can't "push it further" because price action, or pattern recognition, on whatever time frame you insist on using, is no more reliable than other methods and in some respects worse than using indicators given the propensity to use discretion and as a consequence stay in a bad trade.

If you were to approach a backer for funding he'd want to know; the overall risk and the risk per trade, the draw-down and whether or not the edge can be automated. If neither major parameter can be met they'd walk away before even asking for the deviation and Sharpe ratio etc which price action, seat of the pants, discretionary traders would find extremely if not impossible difficult to provide. This is why you must gauge the success of your edge by the standard metrics most of us would insist on.

wrt fundamentals it always makes me smile how the inexperienced, despite incredible evidence to the contrary, fail to take on board that fundamental policy decision determines the movements in FX. Over recent months we've had the fiscal cliff, the devaluation of yen and the Cyprus issues all these fundamental concerns have caused a fundamental shift in sentiment which is then represented on the lagging charts. Yet, despite these recent events certain traders are still under the impression that fundamental issues do not move markets. To even put forward a theory that Abeconomics didn't collapse yen is absurd.



Quoting Fx Hiflyer
haha indicator based methods give you exit and entry points ....u got to be kidding me.......actually they do ..but they don't work!.................plus i have seen price action do wonders..not like i can read it like loaded .....but i know it works and i know i can't convince you so i will not push it further.......................and those who are confident enough to automate their trades are the only ones who will take money out of this market is the most stupidest thing to say.......as for not exposing risk..that is the only thing i do right...
Quoting Squeeze
Once again you're confused and ignorantly conflating my statements. You can't "push it further" because price action, or pattern recognition, on whatever time frame you insist on using, is no more reliable than other methods and in some respects worse than using indicators given the propensity to use discretion and as a consequence stay in a bad trade.

If you were to approach a backer for funding he'd want to know; the overall risk and the risk per trade, the draw-down and whether or not the edge can be automated. If neither major parameter...


You should stop conflating my statements and that also just out of ego........fundamental issues do move the market and sentiment cannot be ignored.....but how the heck would you know where the price is headed....you might get it right based on fundamentals but that would only be a coincidence ..whereas PA WILL TELL YOU EXACTLY WHEN TO TAKE AN ENTRY...........do you want the the newbie traders to hear about the cyprus issue and just sell the euro based on that when price can go anywhere ..hit their stops on some other news to follow and then go down...i asked everyone on this forum how would fiscal cliff move price..no one had any answer !

Do you think i am so stupid that i cant provide simple risk reward ratios ?...hahha...save it !
If I could just interrupt your hole digging by giving you a bigger spade can I ask you what time frame does your price action stop being lagging and become a leading indicator? And on the same subject tell me where you place your stop? Is it the HH/LL of the session, where you judge the turn to be, or based on the risk per trade? Is it fixed by pips?

Quoting Fx Hiflyer
You should stop conflating my statements and that also just out of ego........fundamental issues do move the market and sentiment cannot be ignored.....but how the heck would you know where the price is headed....you might get it right based on fundamentals but that would only be a coincidence ..whereas PA WILL TELL YOU EXACTLY WHEN TO TAKE AN ENTRY...........do you want the the newbie traders to hear about the cyprus issue and just sell the euro based on that when price can go anywhere ..hit their stops on some other news to follow and then go...
"The meek shall inherit the earth.." Yeah right, good luck with that shit..
Quoting Spreadbetter
If I could just interrupt your hole digging by giving you a bigger spade can I ask you what time frame does your price action stop being lagging and become a leading indicator? And on the same subject tell me where you place your stop? Is it the HH/LL of the session, where you judge the turn to be, or based on the risk per trade? Is it fixed by pips?

spready spready spready ... i give up already !
Quoting Spreadbetter
If I could just interrupt your hole digging by giving you a bigger spade can I ask you what time frame does your price action stop being lagging and become a leading indicator? And on the same subject tell me where you place your stop? Is it the HH/LL of the session, where you judge the turn to be, or based on the risk per trade? Is it fixed by pips?

i love the way you talk...giving you a bigger spade!........why do you talk like you are the boss of everyone...do you never get out of the character ??...just asking
Quoting Squeeze
I'm not particularly interested in debating this with you, suffice to say that whilst you have had a 'boring week', personally I've enjoyed 7% individual account growth this week and will probably finish on that. The amount of effort that has taken is negligible and on a reasonable account size is very satisfying.

Here's one thing I'll leave you with, I actually mentioned this to another board member a while back; ask yourself is it possible to automate your trading edge and is it simple enough to operate from a smartphone? If so you have an...
Do you even realize what you are typing matey? Funny how most people who brag stats like you do on forums are very rarely successful . And you talk about arrogance?? Why don't you re-read your self motivating 7% rant above dude.

Stop ragging on people with other methods. What works for you may not work for others. And what works for them may not work for you.

Also ROFL at your last comment on "having an edge by being able to automate your trading system????" And then you go on to say that this is "with the required discipline??"

An automated system itself may be developed and implemented by hours and hours and research and discipline, but how dare you state that an automated system requires discipline at all??


I, my friend come from an era where trading was done with nothing but a small notebook in your hand, sometimes a pay phone if you were lucky, hundreds of hours on the New York tube, and a few ace plane tickets up your sleeve, before your little I phone got invented. GOOD LUCK WHEN YOUR FOOKING SMART PHONE BATTERY DIES CHAMP while your stuck on the London Tube between sweaty Bill and fat Jill and wish you had the discipline to stay at home and trade for real.


If your idea of trading is to make a system and "Automate" and then consider yourself a disciplined trader, I sincerely wish you good fortune my man.

Six
And stop ragging on people on this forum Squeeze or trying to make yourself look better than the next guy. Every successful trader I know respects all other systems, simply because most successful traders I know have tried ALL of them until they found what works for them.

Good night to all. Fair trades to one and all. Good Luck.
Quoting Spreadbetter
If I could just interrupt your hole digging by giving you a bigger spade can I ask you what time frame does your price action stop being lagging and become a leading indicator? And on the same subject tell me where you place your stop? Is it the HH/LL of the session, where you judge the turn to be, or based on the risk per trade? Is it fixed by pips?

its a leading indicator on every time frame if it is read in the right manner.......stop to be placed atleast outside the immediate range.....for the turn alot needs to be considered........i hope the interview is over
Is it? Er ok :-)

Quoting Fx Hiflyer
its a leading indicator on every time frame if it is read in the right manner.......stop to be placed atleast outside the immediate range.....for the turn alot needs to be considered........i hope the interview is over
"The meek shall inherit the earth.." Yeah right, good luck with that shit..
Quoting Spreadbetter
If I could just interrupt your hole digging by giving you a bigger spade can I ask you what time frame does your price action stop being lagging and become a leading indicator? And on the same subject tell me where you place your stop? Is it the HH/LL of the session, where you judge the turn to be, or based on the risk per trade? Is it fixed by pips?
sorry for the late reply thou...was enjoying crude and then got carried away...!.........where do you think gold is going ?...what do you think the average movement and volume be this friday and monday?
Quoting Squeeze
Arrogance, immaturity and ignorance is a dangerous and combustable cocktail to possess and display in this industry. You also need to concentrate on what I stated rather than making assumptions and jumping to conclusions. I'm within reaching distance of a company and department that has tried, tested and archived hundreds of methods over the years in an attempt to 'read' the markets and arrived at the conclusion that there are none that will predict with any form of regularity. Which leads successful traders to concentrate on the only constants...
Oh and by the way, automated systems were developed to alleviate the discipline, long hours at the desk (or screen in modern times) and to coerce those less able to put in the effort to trade.
Quoting Sixfour
And stop ragging on people on this forum Squeeze or trying to make yourself look better than the next guy. Every successful trader I know respects all other systems, simply because most successful traders I know have tried ALL of them until they found what works for them.

Good night to all. Fair trades to one and all. Good Luck.


thankyou sir
From what I've read he's suggesting that an edge must be able to be automated, 'algoed up' in order to have any long term sustainability and to be taken seriously.

Fwiw I agree and I'd also agree that (particularly retail traders) should have a trading plan so simple that it can be executed on nothing more complicated than a smartphone.

As for his bragging rights I think 7%, in what for him would be well over his normal variance, would be scoffed at by dizzy dreamers who need twenty percent per week from their chump change ten grand accounts to make a living. Are you a chump? :-)



Quoting Sixfour
Do you even realize what you are typing matey? Funny how most people who brag stats like you do on forums are very rarely successful . And you talk about arrogance?? Why don't you re-read your self motivating 7% rant above dude.

Stop ragging on people with other methods. What works for you may not work for others. And what works for them may not work for you.

Also ROFL at your last comment on "having an edge by being able to automate your trading system????" And then you go on to say that this is "with the required discipline??"...
"The meek shall inherit the earth.." Yeah right, good luck with that shit..
You've just revealed yourself as a know nothing chump. Nice one :-)

Quoting Sixfour
Oh and by the way, automated systems were developed to alleviate the discipline, long hours at the desk (or screen in modern times) and to coerce those less able to put in the effort to trade.
"The meek shall inherit the earth.." Yeah right, good luck with that shit..
Closing month with 127% growth. Instead of providing pictures of the trades(I've done in the past) I'll do something better. I'll give you the edge I found which could be automated or smartphoned but trading wouldn't be funny anymore for me.
Be warned though that you may get shocked from how it engulfs ANY EVENT(and March had some strong ones) of the month and some of the next ones:

http://www.forexfactory.com/news.php?do=news&id=413109#post6483729

You just drop your order outside the implied zone and then some more since it remains in the speed lane. From time to time come here to have epic laugh not with the poor Cypriots(or whoever turn is to carry the burden of the oscillation) but with the thirsty guys next to Niagara falls discussing for its sudden, yet in hindsight fundamentally predicted, appearance and how it looks in this or that detail...

No no don't skip that link. Believe me, you wanna check the precision.
Only then you can RIP and thanx in advance
Make me a prophet and I'll make you rich. - Me
127% in a month..? Did you get your decimals confused?

Quoting Timetraveler
Closing month with 127% growth. Instead of providing pictures of the trades(I've done in the past) I'll do something better. I'll give you the edge I found which could be automated or smartphoned but trading wouldn't be funny anymore for me.
Be warned though that you may get shocked from how it engulfs ANY EVENT(and March had some strong ones) of the month and some of the next ones:

http://www.forexfactory.com/news.php...09#post6483729

You just drop your order outside the implied zone and then some more since it...
"The meek shall inherit the earth.." Yeah right, good luck with that shit..
Quoting Spreadbetter
xxxxxxxxxxxxx xxxxxxxxxxxxxx xxxxxxxxxxxx xxxxxxxxxxxxxxx
Post hidden because Spreadbutter is on your pwned list
Make me a prophet and I'll make you rich. - Me
Quoting Timetraveler
Closing month with 127% growth. Instead of providing pictures of the trades(I've done in the past) I'll do something better. I'll give you the edge I found which could be automated or smartphoned but trading wouldn't be funny anymore for me.
Be warned though that you may get shocked from how it engulfs ANY EVENT(and March had some strong ones) of the month and some of the next ones:

http://www.forexfactory.com/news.php...09#post6483729

You just drop your order outside the implied zone and then some more since it...

he won't shut up ..even if you hold his hand and make him hit a trade........persistent **********er he is !
Circa 127% account growth in a single month is a silly claim generally made by kids or new traders recklessly gambling with chump change. Bless him, is his arrival a portent that his side kick is back?

Quoting Fx Hiflyer
he won't shut up ..even if you hold his hand and make him hit a trade........persistent **********er he is !
"The meek shall inherit the earth.." Yeah right, good luck with that shit..
Some miss the free clicks and some miss the free tips.
For the time being no free lunch and headbanging therapy whatsoeva'

cheers Rip etc etc.

PS. Two things are infinite: the universe and human stupidity; and I’m not sure about the universe!
Make me a prophet and I'll make you rich. - Me
Additionally, April is month for fundamentals only; starts with a Fool's Day.

Give a better shot. The floor was for 1000(+400) posts and still is yours.
Make me a prophet and I'll make you rich. - Me
Quoting Spreadbetter
You've just revealed yourself as a know nothing chump. Nice one :-)

Well at least I revealed myself as a chump LONG after you and Squeeze bud.

Happy trades.
Ya think? You jump in, wearing your size five ballet shoes trying to give it large wrt your trading experience and only succeed in making yourself sound ridiculous.

Quoting Sixfour
Well at least I revealed myself as a chump LONG after you and Squeeze bud.

Happy trades.
"The meek shall inherit the earth.." Yeah right, good luck with that shit..
Where is loadedgun never saw him of late?
Quoting Fx Hiflyer
i love the way you talk...giving you a bigger spade!........why do you talk like you are the boss of everyone...do you never get out of the character ??...just asking
Spreadbutter likes to fight with everyone during argument. I know him and Loadedgun are like cat and dog.
No don't give up, having read the thread in full it would appear that you diverted it somewhat, but as you've done so why not try and justify your allegiance to 'price action'. Here's a question for you, do you price actionistas stay glued to your monitors all day fearing that you'll miss that nailed on pattern that will reap rewards? Describe how you enter and exit a trade? Given that you're into what you describe as "the precision" price action offers I would imagine that's a bit tricky. But I'm always ready to learn from an expert in the art...

Quoting Fx Hiflyer
spready spready spready ... i give up already !
"The meek shall inherit the earth.." Yeah right, good luck with that shit..
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