A failsafe way to make money! Let me tell you which way I think the cable will go...and do the opposite!!
Cable Update (GBPUSD)
- #33,042
- Sep 27, 2007 10:35am Sep 27, 2007 10:35am
- Joined Nov 2006 | Status: Shoot all the clowns.. Shoot'em all | 14,520 Posts
Cesar.
The anti-cable thread guy, just made an inspirational post replying to you. Will you read it?
Hey, Cramer messing around with the housing sector. Got some guys really pissed off
http://www.cnbc.com/id/15840232?video=533257614&play=1
- #33,044
- Sep 27, 2007 10:51am Sep 27, 2007 10:51am
- Joined Jul 2007 | Status: al zahr | 2,820 Posts
LLOLLLLL... bullrock is the fish!!!!!!!!!
Just kidding while he's always long cable long. Soon his "flip the coin" kicks in...
.
- #33,045
- Sep 27, 2007 11:12am Sep 27, 2007 11:12am
- | Joined May 2007 | Status: Trader | 4,716 Posts
Yes... But I'm not gonna hijack that thread to discuss...
Man, SL got a thing for you man..........
My thoughts are....everyone has there own way of trading....if it's successful for them, than so be it.
I do personally believe that the news has it's say in forex....if it didn't then everyone could trade the charts and we will all be rich.
With that said, we can all look at these past two months, especially with the Northern Rock issue...if folks who were long (and got in @ 0280 on 9/13) at that time, heard about the banks issue do you think they would of stayed long...or would of got out because of that piece of news......
Just my two pips......
- #33,046
- Sep 27, 2007 11:25am Sep 27, 2007 11:25am
- Joined Nov 2006 | Status: Shoot all the clowns.. Shoot'em all | 14,520 Posts
Man, SL got a thing for you man..........
My thoughts are....everyone has there own way of trading....if it's successful for them, than so be it.
I do personally believe that the news has it's say in forex....if it didn't then everyone could trade the charts and we will all be rich.
With that said, we can all look at these past two months, especially with the Northern Rock issue...if folks who were long (and got in @ 0280 on 9/13) at that time, heard about the banks issue do you think they would of stayed long...or would of got out because of that piece of news......
Just my two pips......
Techis as boundaries where you expect different groups of people to make different decisions (profit taking, bottom fishing, etc)...
But everytime I mention fundamentals there are people shouting out loud "news suck!!!". I'm over this discussion already... LOL...
Yesterday I heard an interesting difinition, applied to all markets. Financial market is one big POLL. At every price you are asking the people "do you think it will go up or down?" If more people press the "up button", market goes up and vice-versa....
Oh yeah, some are going to say "the guy pushed the up bottom because of the end of the wave 4"... so whatever...
- #33,047
- Sep 27, 2007 11:31am Sep 27, 2007 11:31am
Does any one see cable going long more or on the down side. aany insight from good TA. waiting plz.
Yes... But I'm not gonna hijack that thread to discuss...
Hey, Cramer messing around with the housing sector. Got some guys really pissed off
http://www.cnbc.com/id/15840232?video=533257614&play=1
- #33,048
- Sep 27, 2007 11:44am Sep 27, 2007 11:44am
- Joined Jul 2007 | Status: al zahr | 2,820 Posts
Yeah, turtle. But I'm tired of telling people here that trading fundamentals is not trading the news... Fundamentals reflect into market sentiment and that's what moves the market. Otherwise, cable should be at 2.0800 / 2.1000 by now, judging from the technical point of view...
Techis as boundaries where you expect different groups of people to make different decisions (profit taking, bottom fishing, etc)...
But everytime I mention fundamentals there are people shouting out loud "news suck!!!". I'm over this discussion already... LOL...
Yesterday I heard an interesting difinition, applied to all markets. Financial market is one big POLL. At every price you are asking the people "do you think it will go up or down?" If more people press the "up button", market goes up and vice-versa....
Oh yeah, some are going to say "the guy pushed the up bottom because of the end of the wave 4"... so whatever...
.
- #33,050
- Sep 27, 2007 11:51am Sep 27, 2007 11:51am
- Joined Jul 2006 | Status: Charts + PA > * | 3,251 Posts
Hi,
I know, persona non grata and everything, but having something so obviously against my perceived reality posted just causes me to rectify this situation.
Just because that has been possible for > 400 years doesn't mean everyone is capable of doing it for the very reason you just wrote this.
You'd have to believe in it, first. If you don't believe either history or the people posting these setups and trades live both in the J16 thread and their journals then you must be a pretty hard to convince person indeed. If reality doesn't do it, then I don't know what will.
I would say...
1. The direction(not the trend..) turned short a day before Northern Rock news came out after a twice repeated reversal sign by the double PBs we got. This was a reason to be in shorts, not in longs.
2. The night the news were released(at least to the best of my knowledge - I am sure someone can supply the exact date and time the first news hit the news wires and we can cross reference, but it was at the x1 marked area in the chart that I first saw posts using the NR story as an excuse for the sudden drop), we were retesting an interim TL that already was lost from the underside. Price tried to get above it, stalled and fell. No close back above. A normal occurence that we've also had on USDCAD on the surge to 1.08 for example - Bravado shorted that very TL underside over in the USDCAD thread I believe. 16th August I think it was.
As for GBPUSD: Raczekfx, another PA trader, shorted the whole thing on GBPUSD down before NR and without newswires as well. I in turn had left my longs(not a fan of shorting when I am looking for a re-entry long into the trend) and then afterwards read the NR excuse.
I just can't stand having chart reality twisted into "you had to read the news to know and trade it".
That's just not true.
Jim himself also steers clear of any and all news / FA like the plague and for good reason.
I know some people can and manage to trade FA profitably...somehow.
I wouldn't know how. I just know that in my version of the chart's reality the chart itself is enough - no news needed. You're always free to read and discuss them etc. Just don't think the chart (or chart traders for that matter) requires them to function(or for chart traders to trade profitably).
Just had to clarify this...
Persona non grata leaving again.
Take care everyone,
SeekingLight
I know, persona non grata and everything, but having something so obviously against my perceived reality posted just causes me to rectify this situation.
I do personally believe that the news has it's say in forex....if it didn't then everyone could trade the charts and we will all be rich.
You'd have to believe in it, first. If you don't believe either history or the people posting these setups and trades live both in the J16 thread and their journals then you must be a pretty hard to convince person indeed. If reality doesn't do it, then I don't know what will.
With that said, we can all look at these past two months, especially with the Northern Rock issue...if folks who were long (and got in @ 0280 on 9/13) at that time, heard about the banks issue do you think they would of stayed long...or would of got out because of that piece of news......
1. The direction(not the trend..) turned short a day before Northern Rock news came out after a twice repeated reversal sign by the double PBs we got. This was a reason to be in shorts, not in longs.
2. The night the news were released(at least to the best of my knowledge - I am sure someone can supply the exact date and time the first news hit the news wires and we can cross reference, but it was at the x1 marked area in the chart that I first saw posts using the NR story as an excuse for the sudden drop), we were retesting an interim TL that already was lost from the underside. Price tried to get above it, stalled and fell. No close back above. A normal occurence that we've also had on USDCAD on the surge to 1.08 for example - Bravado shorted that very TL underside over in the USDCAD thread I believe. 16th August I think it was.
As for GBPUSD: Raczekfx, another PA trader, shorted the whole thing on GBPUSD down before NR and without newswires as well. I in turn had left my longs(not a fan of shorting when I am looking for a re-entry long into the trend) and then afterwards read the NR excuse.
I just can't stand having chart reality twisted into "you had to read the news to know and trade it".
That's just not true.
Jim himself also steers clear of any and all news / FA like the plague and for good reason.
I know some people can and manage to trade FA profitably...somehow.
I wouldn't know how. I just know that in my version of the chart's reality the chart itself is enough - no news needed. You're always free to read and discuss them etc. Just don't think the chart (or chart traders for that matter) requires them to function(or for chart traders to trade profitably).
Just had to clarify this...
Persona non grata leaving again.
Take care everyone,
SeekingLight
Trust price. Know yourself.
- #33,051
- Sep 27, 2007 11:55am Sep 27, 2007 11:55am
- | Joined May 2007 | Status: Trader | 4,716 Posts
Yeah, turtle. But I'm tired of telling people here that trading fundamentals is not trading the news... Fundamentals reflect into market sentiment and that's what moves the market. Otherwise, cable should be at 2.0800 / 2.1000 by now, judging from the technical point of view...
Techis as boundaries where you expect different groups of people to make different decisions (profit taking, bottom fishing, etc)...
But everytime I mention fundamentals there are people shouting out loud "news suck!!!". I'm over this discussion already... LOL...
Yesterday I heard an interesting difinition, applied to all markets. Financial market is one big POLL. At every price you are asking the people "do you think it will go up or down?" If more people press the "up button", market goes up and vice-versa....
Oh yeah, some are going to say "the guy pushed the up bottom because of the end of the wave 4"... so whatever...
C-ya at the London session....time to work on my honey-do list (paint the house)......
- #33,052
- Sep 27, 2007 11:57am Sep 27, 2007 11:57am
- Joined Mar 2006 | Status: Trade the reaction not the news! | 10,359 Posts
Saw this earlier today from FT. Forgot to post.
London shares were up strongly in opening exchanges on Thursday, as Northern Rock rose for a second-consecutive session on takeover speculation.
The mortgage lender rose another 7.4 per cent to 195.5p, taking its combined recovery since takeover talk started to lift the shares on Wednesday to more than 20 per cent.
On Wednesday night, Richard Lambert, director of the Confederation of British Industry, said the response by the Bank of England and the Financial Services Authority had "been found wanting under fire" creating scenes that would only usually be seen in a "banana republic".
Maybe Chavez might want to buy the UK with his oil Billions!!!
London shares were up strongly in opening exchanges on Thursday, as Northern Rock rose for a second-consecutive session on takeover speculation.
The mortgage lender rose another 7.4 per cent to 195.5p, taking its combined recovery since takeover talk started to lift the shares on Wednesday to more than 20 per cent.
On Wednesday night, Richard Lambert, director of the Confederation of British Industry, said the response by the Bank of England and the Financial Services Authority had "been found wanting under fire" creating scenes that would only usually be seen in a "banana republic".
Maybe Chavez might want to buy the UK with his oil Billions!!!
- #33,053
- Sep 27, 2007 12:03pm Sep 27, 2007 12:03pm
- | Joined May 2007 | Status: Trader | 4,716 Posts
Hi,
I know, persona non grata and everything, but having something so obviously against my perceived reality posted just causes me to rectify this situation.
Just because that has been possible for > 400 years doesn't mean everyone is capable of doing it for the very reason you just wrote this.
You'd have to believe in it, first. If you don't believe either history or the people posting these setups and trades live both in the J16 thread and their journals then you must be a pretty hard to convince person indeed. If reality doesn't do it, then I don't know what will.
I would say...
1. The direction(not the trend..) turned short a day before Northern Rock news came out after a twice repeated reversal sign by the double PBs we got. This was a reason to be in shorts, not in longs.
2. The night the news were released(at least to the best of my knowledge - I am sure someone can supply the exact date and time the first news hit the news wires and we can cross reference, but it was at the x1 marked area in the chart that I first saw posts using the NR story as an excuse for the sudden drop), we were retesting an interim TL that already was lost from the underside. Price tried to get above it, stalled and fell. No close back above. A normal occurence that we've also had on USDCAD on the surge to 1.08 for example - Bravado shorted that very TL underside over in the USDCAD thread I believe. 16th August I think it was.
As for GBPUSD: Raczekfx, another PA trader, shorted the whole thing on GBPUSD down before NR and without newswires as well. I in turn had left my longs(not a fan of shorting when I am looking for a re-entry long into the trend) and then afterwards read the NR excuse.
I just can't stand having chart reality twisted into "you had to read the news to know and trade it".
That's just not true.
Jim himself also steers clear of any and all news / FA like the plague and for good reason.
I know some people can and manage to trade FA profitably...somehow.
I wouldn't know how. I just know that in my version of the chart's reality the chart itself is enough - no news needed. You're always free to read and discuss them etc. Just don't think the chart (or chart traders for that matter) requires them to function(or for chart traders to trade profitably).
Just had to clarify this...
Persona non grata leaving again.
Take care everyone,
SeekingLight
And you have your opinions and that's great......they are many techies who would make pips trading and also many fundies who make pips trading.
So to sit here and argue about it doesn't do anyone any good, I was just posting my thoughts....which everyone has. I'm glad you like the techie part of trading.
Me....I like using both, because there is room for both.
This is the reason I don't like posting too much anymore...because it seems people can't give their opinions without someone else trying to convince them that "their' way is the right one.
I thank you for your post and wish you many successful years trading.....
- #33,054
- Sep 27, 2007 12:09pm Sep 27, 2007 12:09pm
- Joined Jul 2007 | Status: al zahr | 2,820 Posts
And you have your opinions and that's great......they are many techies who would make pips trading and also many fundies who make pips trading.
So to sit here and argue about it doesn't do anyone any good, I was just posting my thoughts....which everyone has. I'm glad you like the techie part of trading.
Me....I like using both, because there is room for both.
This is the reason I don't like posting too much anymore...because it seems people can't give their opinions without someone else trying to convince them that "their' way is the right one.
I thank you for your post and wish you many successful years trading.....
.
- #33,055
- Sep 27, 2007 12:10pm Sep 27, 2007 12:10pm
- Joined Nov 2006 | Status: Shoot all the clowns.. Shoot'em all | 14,520 Posts
Saw this earlier today from FT. Forgot to post.
London shares were up strongly in opening exchanges on Thursday, as Northern Rock rose for a second-consecutive session on takeover speculation.
The mortgage lender rose another 7.4 per cent to 195.5p, taking its combined recovery since takeover talk started to lift the shares on Wednesday to more than 20 per cent.
On Wednesday night, Richard Lambert, director of the Confederation of British Industry, said the response by the Bank of England and the Financial Services Authority had "been found wanting under fire" creating scenes that would only usually be seen in a "banana republic".
Maybe Chavez might want to buy the UK with his oil Billions!!!
I think they were "betting" (yes gambling) that this turmoil would be contained to the US and would die quikly. Then they would emerge as the told you so guys, leaving Trichet to explain the billions he pumped to the market... Now they lost credibility in such a big level, as several newswires describe.
- #33,057
- Sep 27, 2007 12:12pm Sep 27, 2007 12:12pm
- | Joined May 2007 | Status: Trader | 4,716 Posts
Here is the third way to trade... I AM... I am using money management and statitical probabilities based on price action.. This is more like quantitative trading, closer to technical but I do not care any of the technical analysis is about. Maybe a couple of trendlines but that is that...
Thanks Bullrock......any little piece of information is always helpful.....
- #33,058
- Sep 27, 2007 12:17pm Sep 27, 2007 12:17pm
- Joined Sep 2006 | Status: Trader | 2,272 Posts
its just money
- #33,059
- Sep 27, 2007 12:24pm Sep 27, 2007 12:24pm
- Joined Nov 2006 | Status: Shoot all the clowns.. Shoot'em all | 14,520 Posts
Let's face it... What kill us here is the multiple timeframes. Brokers should provide, say 1hr or daily chats only
See, a guy long with 6 minis targeting 20 pips / SL 20 is not right or wrong compared to the guy short with 2 minis targeting 120 pips / SL 120. It's the same shit, for God's sakes.
But if the guy gone long post "I'm long" in any thread, the guy short will surely go for his jugular in the next minute!!!!!!!
See, a guy long with 6 minis targeting 20 pips / SL 20 is not right or wrong compared to the guy short with 2 minis targeting 120 pips / SL 120. It's the same shit, for God's sakes.
But if the guy gone long post "I'm long" in any thread, the guy short will surely go for his jugular in the next minute!!!!!!!
- #33,060
- Sep 27, 2007 12:34pm Sep 27, 2007 12:34pm
- Joined Nov 2006 | Status: Shoot all the clowns.. Shoot'em all | 14,520 Posts