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AaronWard Dec 10, 2011 12:05pm | Post# 14201

Have any of you guys watched this? Million Dollar Traders

When I watched this I was wondering what trading style (if any) they were trading. They make trading seem so stressful... probably because they don't know what they are doing.
Many thanks, great entertainment. Reality TV meets trading.
What a dumb idea to take beginners and expect them to become fundamental traders. And why didn't anybody learn how to use a straddle?

Tyoon Dec 10, 2011 12:06pm | Post# 14202

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Deleted last post and updated it with these three pivots.

As you said buma, most traders are likely to be bearish. Price is very bullish for it's condition. I will expect it to respond to the 1st diag.
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AaronWard Dec 10, 2011 12:09pm | Post# 14203

this has been a pivotal point as i am viewing it on your chart. i really think that zone of buying is consumed, it does not look to interesting to buy. i believe through all that FA price is price. price is developed because of people's reactions to their FA and TA and human emotions. therefore if we see price... is the euro really a 'great buy' yet?

honestly id wait for the climax of the euro crisis then if there is a pivotal point in which they can get out of it, i would long.

i mean look at it this way. almost 90% of the traders are going short...
your FA is getting better. Watch out for the USD. It is the killer in this pair.

bumapatria Dec 10, 2011 12:35pm | Post# 14204

Deleted last post and updated it with these three pivots.

As you said buma, most traders are likely to be bearish. Price is very bullish for it's condition. I will expect it to respond to the 1st diag.
therefore bearish correct?

a retracement occurs due to the current trend's holders taking profits and or buying back (its a downtrend in our case) by locking profits to not 'lose' in their sell orders. therefore price rises before they close their buy orders, and that happens to be LEVELS in which many traders are looking at. Fibs, trendlines, pivots, harmonics, supply demand, many traders are looking at that. all our job is to understand the order flow when it hits the specific level and take the trade. trading is 50/50. bullish or bearish. up or down. eliminate all the possibilities if not most of it being one side, there you go you have yourself an edge.


FXMindset Dec 10, 2011 12:39pm | Post# 14205

After Spend 10 hours over draw and draw - always believe everything is linked one each other - expecting bearish - of course am would still wrong

glad that many members here spend the weekend talk and analysis the market - glad that am not alone even am lonely

Tyoon Dec 10, 2011 12:49pm | Post# 14206

therefore bearish correct?

a retracement occurs due to the current trend's holders taking profits and or buying back (its a downtrend in our case) by locking profits to not 'lose' in their sell orders. therefore price rises before they close their buy orders, and that happens to be LEVELS in which many traders are looking at. Fibs, trendlines, pivots, harmonics, supply demand, many traders are looking at that. all our job is to understand the order flow when it hits the specific level and take the trade. trading is 50/50. bullish or bearish....
Do you use Oanda to help with your order flow analysis? Order Book

Most Oanda short sellers are limited around 1.355. Longs are limited at 1.33.

bumapatria Dec 10, 2011 1:03pm | Post# 14207

After Spend 10 hours over draw and draw - always believe everything is linked one each other - expecting bearish - of course am would still wrong

glad that many members here spend the weekend talk and analysis the market - glad that am not alone even am lonely
oh yeah man talk about it..

i keep drawing my squares and fans and cycles again and again look for more reasons for both bullish confluences nad bearish confluences.

trading is much better with more people. as long as ur head stays clear on what YOU think and what YOU do, rest is either B/s or great communication and sharing.

bumapatria Dec 10, 2011 1:05pm | Post# 14208

Do you use Oanda to help with your order flow analysis? Order Book

Most Oanda short sellers are limited around 1.355. Longs are limited at 1.33. Looks like there could be more of a range than a trend next week...
nope, im using my chart and price to analyze order flow to the best of my abiliities. am just a beginner.

the pros of orderflow include darkstar (never mind this guy is a legend), Carnegie, another great order flow trader.

anyways im just a mixed up breed of this and that as usual folks

FXMindset Dec 10, 2011 1:16pm | Post# 14209

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oh yeah man talk about it..

i keep drawing my squares and fans and cycles again and again look for more reasons for both bullish confluences nad bearish confluences.

trading is much better with more people. as long as ur head stays clear on what YOU think and what YOU do, rest is either B/s or great communication and sharing.
Singing first sweety
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Tyoon Dec 10, 2011 1:46pm | Post# 14210

I want to trade interactively with others like this someday.

GoldMan. Dec 10, 2011 2:57pm | Post# 14211

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After Spend 10 hours over draw and draw - always believe everything is linked one each other - expecting bearish - of course am would still wrong

glad that many members here spend the weekend talk and analysis the market - glad that am not alone even am lonely

Just don't try to over complicate things, here's my dax30. This H4 gray zone is perfectly formed supply zone. Blue is demand but it's not there because it has formed by H4 or any other candles but because we had massive demand power over the supply and that made me to draw that line there. Added smaller picture that I took at 5 dec because maybe someone thinks i'm just BS after it happened, this blue line was there before. This is the big picture that worked very well last week and it's s picture that i'm going with next week, simple.
Now that's the bigger picture that I need to know and if that is done I take it day by day, UK time: 7.00, 8.00 (London open) and 13.00 (NY open). Like friday, touched the blue line and then it was screaming buy buy buy at 7.00 UK time.
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bumapatria Dec 10, 2011 3:06pm | Post# 14212

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speaking of dax.. heres my CAC40 chart.




it says short at cycle and if PA holds at 61.8 and supply zone
currently RSI testing 50 value.

risk is much lower shorting CAC now then going long.


as redlion tells me play the lowest risk, reward for later
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ingmarforex Dec 10, 2011 5:18pm | Post# 14213

this has been a pivotal point as i am viewing it on your chart. i really think that zone of buying is consumed, it does not look to interesting to buy. i believe through all that FA price is price. price is developed because of people's reactions to their FA and TA and human emotions. therefore if we see price... is the euro really a 'great buy' yet?

honestly id wait for the climax of the euro crisis then if there is a pivotal point in which they can get out of it, i would long.

i mean look at it this way. almost 90% of the traders are going...

whe testing (technical) Also cnn etc came with some reports euro is doomed high letters front pages so i am kinda cautious still playing intraday ranges but i am thinking whe getting close to the end of the euro doom but thats my oppinion whe still in range and like to play that. But i keep my eyes open the euro short is getting to populair at the moment and even the johny come lates start to short heavy now what i dont like but whe havent seen any big climax yet. if this testing would be succesfull whe could see higher prices to where not sure 1 thing what i noticed is that people dont like the dollar either this much i am still longer term a usd bear with there debt then a euro bear but time will tel. I sill think the usd will be the biggest loser at the end. January i am getting bit tinkly for that because i think the fed will come with some new kind of Q3 but they will probally cal it different then quantative easing. eventually imo the dollar will decline so far the fed needs to increase intrest rates but they wouldnt do that because the bond market will tank and they have a huge loss on there balance sheet but at the end they have no chose because the usd will become to weak. So my thinking is tottaly the opposite of the 95% of this thread will i be right dont know time will tell.

Also the big collapse i dont see comming yet maybe some ranging in 2012 with some panic selling and flash buying in the us equities. But if the fed comes with there programs better dont fight then imo rule nr 1 dont fight the fed. Second maybe end 2012 2013 whe will see the real crash my stuff is saying me on cycles. Deflation will kick in then real whe will probally see a war upcoming rising spring of the middle east i trade a lot of cl crude oil contract so stay a lot in the geopolitical tensions in the world for my analysis and i see a upcoming middle east what will create a big war at the end this is all forecasting so whe dont know if it will happen or not. But i think the changes are high and i will prepare myself for it because i think for traders some huge opportunities arise. where you can make huge profits on if the fed goes in frenzy mode buy assets again like gold or some commodities middle east tension the oil market will fly. Us raises intrest rates short the us bond market short yeah short anyway enough opportunities comming where someone can make a shitload of money on.

RodMca Dec 10, 2011 6:23pm | Post# 14214

http://www.reuters.com/article/2011/...7B81QB20111209

This will certainly play a key role next week it'll be one to watch and will certainly throw caution into the marketplace until the rating agency give its full decision.
I believe a downgrade of either France or Germany will certainly send us below 1.30 in a single day. I'm sure Italy and maybe Spain will be downgraded cause a few ripples but the market already knows they're screwed so certainly, as usual the big players, France and Germany will determine the fate!

It should be interesting to see how S&P come up with their decision. If you remember when they downgraded the US their main reason was because Congress lacked the ability to put Political differences aside and agree on a debt deal. Now with Great Britain throwing a spanner in the works and a refforendum most likely needed in Ireland, if the fiscal union takes off, I wonder is this the same degree of disagreement S&P saw in America.

Also is ECB intervention really the answer. Both Germany and Ireland and basically every other EU country relies on the export market for growth. This in turn increases inflation in the domestic economy without an increase in domestic demand. With the increase in money supply aswell as an export driven recovery, with further fiscal tightening, does all of this lead to massive inflation in the long term and thus drowning out domestic demand ? So i.e is this just a short term solution to a long term problem? This seems to be what the ECB are most worried about seeing as they are reducing interest rates and buying up bonds of troubled countries. This in turn in the short run increases growth levels. Well in theory it should but will all the turmoil recently and unsustainable debt levels it may not work.. So with this in mind I can't see any reason to hold ratings at their AAA levels because of the lack of cohesion between countries and the lack of a long term solution to the crisis..

ADD: To Lumesh if you get to read this, I apologise for not replying to your answer to my question last week at the time forex factory's server crashed and I simply haven't had time all week to write a single comment so I do apologise..

Tyoon Dec 10, 2011 6:30pm | Post# 14215

"It (the decision) will be in the coming days once we have all the necessary elements and reflection,"

That will be a chart mover.

RodMca Dec 10, 2011 6:48pm | Post# 14216

"It (the decision) will be in the coming days once we have all the necessary elements and reflection,"

That will be a chart mover.
Most definitely! I for one will be very cautiously trading both sides with an sl at BE after 15 pips instead of my usual 20 until the agency gives us their decision. Then we finally have more confirmation on direction and in my mind and prediction will be sell sell sell.. But you never know with this game! Nice link about the interactive trading I'm interested in all that too!

Tyoon Dec 10, 2011 7:20pm | Post# 14217

Nice link about the interactive trading I'm interested in all that too!
Yeah it would be great to talk to other traders via audio. Multiple minds communicating can be better than one.

the redlion Dec 10, 2011 7:49pm | Post# 14218

it's a bad idea, in my view the times i have interactively called trades, or talked to traders as i trade, i make bad decisions.

1- i am trying to prove my self how good i am (guess ....what...the market doesnt give a shit)
2- i get biased

RodMca Dec 10, 2011 8:04pm | Post# 14219

it's a bad idea, in my view the times i have interactively called trades, or talked to traders as i trade, i make bad decisions.

1- i am trying to prove my self how good i am (guess ....what...the market doesnt give a shit)
2- i get biased
Well I have to agree with you there. I was like that a few months ago where I always had to seek other traders confirmation and advice on almost every trade I took. I then discovered that I obviously have an inherit flaw in trading. So took some time out to come up with my own system and now I'm trading brilliantly on my own system and my increasing knowledge of fundamentals..

I just thought the set ups in each of their offices looked cool, as for their interaction its not much different than what we do on this thread..

Pbh Dec 10, 2011 8:47pm | Post# 14220

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