I'm glad the election is over.....we Americans can get along again.....unless of course you see something like this....
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Silent room 2 replies
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My silent journal 4 replies
bo7a method... method for GBP/JPY 205 replies
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DislikedI'm glad the election is over.....we Americans can get along again.....unless of course you see something like this....Ignored
DislikedAnd then there is this. I might sign it... lol.
http://www.examiner.com/article/shou...in-citizenship
http://www.inquisitr.com/397425/peti...for-secession/
https://petitions.whitehouse.gov/pet...erica/dmQl1bXLIgnored
DislikedLooks to me like the Aussie might be breaking down now. The first chart, the weekly one, shows that we are at the "mid line" of the consolidation range. (Some of you may remember my "box trading" videos a while back that went over this phenomenon of only reaching "half way" on the return and signalling a possible breakdown or break out.....depending on the direction.)
Also, the daily bar is looking ugly......as you can see on the second chart, and last Wednesday's shooting star certainly won't help the outlook either.Ignored
DislikedTechnically(see chart below) we have a double top and bearish divergence.
Fundamentally - Lots of large companies recently missed their earnings forecast on the low side with more to come(see my previous posts). All western economies are in recession and de-leveraging and the only way companies are gonna increase earnings is if ppl start spending again and I can't see that happening anytime soon. JMHO.Ignored
DislikedOn thing I love about markets is that it's quite easy to find out who is right & who is wrong. I am clearly wrong (or early, which is the same thing). You were absolutely right to be short. The question is, when do you get long?
One thing I hear repeatedly (so you could argue this is conventional wisdom) is that people who are concerned about taxes going up (especially on cap gains & dividend income) are taking their gains now, so they can pay a *known* 15% rate rather than whatever Congress/president decide it's going to be. Not a bad idea...Ignored
DislikedI'll still stick with my call for higher stock prices, understanding that so far... I'm dead wrong!Ignored
DislikedSeasonality would suggest it's a good time to be long however, price is just not complying thus far.
At the end of the day you are right to 'stick to your guns' right, wrong or otherwise.Ignored
DislikedNext stop for gold 1875? There are some hurdles to overcome first.Ignored
DislikedCheers Chris, and great words. It is so true too. All this I am right, I am right, I am right!!! nonsense. It's ridiculous. Anyone who is anyone who trades knows that for those of us who have developed a system, have developed it in a way that it has positive expectancy over time . This could mean a stellar w:l ratio, and even more so a high r:r ratio. A combination of the two with high marks is GUARANTEED survival and future in this market.
I come in with about a 70% win rate. I also will never take a trade that is not at least a minimum...Ignored
DislikedAfter reading a few things on the "new section" here on the site, I feel that I should probably post this thought yet again..................
ChrisIgnored
DislikedTrading is a funny business, unfortunately it's probably unavoidable that you will have to deal with idiots, liars and arrogant faceless strangers on internet forums.
Life is not much different really either, your boss, colleagues, clients and sometimes even your own family can be so full of it, it makes you sick but that's life.
Trading (and life really) is about using common sense to navigate your way around these people. Providing you are smart enough you will learn from these people what NOT to do and develop in a positive way. With trading...Ignored