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Technical Analysis Fallacy

  • #3,361
  • Jul 14, 2008 10:48am Jul 14, 2008 10:48am
Quoting Zoran
They reported it last Friday I believe. Indymac going down - but I would expect some kind of intervention to save it?
Indymack was taken over by the FDIC, losses expected to 9Bil. Insureds wup to 100k will have their deposits insured, those holding over that are looking at 50% on the dollar.

FDIC has something like +50Bil to back up deposits, before Indymack, there are some 90 other banks in trouble with a reported total of a possible 28Bil loss on deposits.

I heard this over the weekend on the tube.

fwiw.

a
  • #3,362
  • Edited 11:08am Jul 14, 2008 10:53am | Edited 11:08am
Quoting auxesis
Indymack was taken over by the FDIC, losses expected to 9Bil. Insureds wup to 100k will have their deposits insured, those holding over that are looking at 50% on the dollar.

FDIC has something like +50Bil to back up deposits, before Indymack, there are some 90 other banks in trouble with a reported total of 28Bil deposits.

I heard this over the weekend on the tube.

fwiw.

a
Hi auxesis,

looks like the fed's gonna have their hands full again.
50cts on the dollar is ok, was guessing like 20cts to 1

regards

seems there may be another wave in the eur/usd after lunch, patterns clinging to top, wondering how far they wanna sweep before it happens.
Any feel, ppl?

sharks, spoke too fast,
patience, wait for the time window.
mkt pre ejected, USD selling orders may be aggressive.
Yeah its showing up in all kingdoms, so gotta be orders.

Battle stations ppl , the baby's moving
  • #3,363
  • Jul 14, 2008 11:01am Jul 14, 2008 11:01am
Quoting fti
Hi auxesis,

looks like the fed's gonna have their hands full again.
50cts on the dollar is ok, was guessing like 20cts to 1

regards
FTI,

Howdy!

I think Uncle Ben's running out of fingers to put in all the holes in the dike. Fannie, Freddie, this, oil, help!
  • #3,364
  • Jul 14, 2008 11:09am Jul 14, 2008 11:09am
Hi there!

Anyone dancing with U/J?
I'm waiting for a new short entry, after I have squared my short position @ 106.17 (incl.scout) ...
  • #3,365
  • Jul 14, 2008 11:23am Jul 14, 2008 11:23am
Quoting MaMood
Hi there!

Anyone dancing with U/J?
I'm waiting for a new short entry, after I have squared my short position @ 106.17 (incl.scout) ...
Nope, not there.
But I can tell you, your windows already open.
And she's lagging behind the others.

That cable, she gona along way, lloks like she's gonna blow thru tops, but she's missing one leg though.
Is this the start of something, dunno, gotta watch carefully.
  • #3,366
  • Jul 14, 2008 11:25am Jul 14, 2008 11:25am
S 1 x usdjpy x 106.25 (scout)
  • #3,367
  • Jul 14, 2008 11:29am Jul 14, 2008 11:29am
eur$
b x1 x1.5915

order b x2 eurusd x 1.5925stp

order rejected

b x2 x1.5927
  • #3,368
  • Jul 14, 2008 11:41am Jul 14, 2008 11:41am
Quoting fti
eur$
b x1 x1.5915

order b x2 eurusd x 1.5925stp

order rejected

b x2 x1.5927
Hi fti!

What's the meaning of stp abbreviation?
was it a buy stop order?
  • #3,369
  • Edited 12:06pm Jul 14, 2008 11:49am | Edited 12:06pm
Quoting MaMood
Hi fti!

What's the meaning of stp abbreviation?
was it a buy stop order?
yes it was.

Sold x 4 x eurusd x1.5922
now squared


order buy X2 x eurusd x 1.5915 OB
unable and CXL

bot x7 eurusd x1.5934
  • #3,370
  • Jul 14, 2008 11:56am Jul 14, 2008 11:56am
anything can happen but it looks , imho, the market may be done for today, rangy chop chop for the remainder and set up for tomorrows fireworks.

regards,

a
  • #3,371
  • Jul 14, 2008 12:00pm Jul 14, 2008 12:00pm
s 1 x usdjpy x 16
  • #3,372
  • Jul 14, 2008 12:06pm Jul 14, 2008 12:06pm
s 3 x usdjpy x 12
  • #3,373
  • Jul 14, 2008 12:12pm Jul 14, 2008 12:12pm
bot 1 x usdjpy x 106.08
bot 1 x usdjpy x 106.08
bot 3 x usdjpy x 106.08

now squared.
  • #3,374
  • Edited 12:30pm Jul 14, 2008 12:13pm | Edited 12:30pm
Quoting auxesis
anything can happen but it looks , imho, the market may be done for today, rangy chop chop for the remainder and set up for tomorrows fireworks.

regards,

a
we'll see how CME boys are doing,
if they caught with USD , boy it'll be fireworks,
but again, may be like you expect.
but my charts say try push, so I go.
the unintelligent trader.

She says tango, I tango,
She say slow dance , I slow dance.
I do the work. she pays for the obedience.

it ain't over till the fat lady sings.
Inserted Video


bot x3 x eur usd x 1.5927
  • #3,375
  • Jul 14, 2008 12:35pm Jul 14, 2008 12:35pm
Quoting fti
we'll see how CME boys are doing,
if they caught with USD , boy it'll be fireworks,
but again, may be like you expect.
but my charts say try push, so I go.
the unintelligent trader.

She says tango, I tango,
She say slow dance , I slow dance.
I do the work. she pays for the obedience.
I
So much to learn and recognize and balance.
A battlefeld, a dance, what will be the dominant mind set in the present?
What do we feel in the present?
An attack, impulse ranges, tango or another style of dance?
  • #3,376
  • Jul 14, 2008 12:36pm Jul 14, 2008 12:36pm
Hi guys!

I'm out for I think 2 hours and took my USDJPY short scout out.
No time for babysitting the scout, because I have to do real babysitting with my 6 month old son.

CU later.

Good success ;-)
  • #3,377
  • Edited 1:16pm Jul 14, 2008 12:44pm | Edited 1:16pm
position bleeds now.

anyone feeling the pain?

Bot x 5 x 1.5914

mild rescue delay due to system hung.

My God, horendous timing.
Here comes, out timed.
  • #3,378
  • Jul 14, 2008 1:44pm Jul 14, 2008 1:44pm
Quoting fti
position bleeds now.

anyone feeling the pain?

Bot x 5 x 1.5914

mild rescue delay due to system hung.

My God, horendous timing.
Here comes, out timed.
Hi fti,

How are you doing?
are you still in rescue mode?

By the way: Does your broker have system probs? or your internet provider? or your computer?
Such kind of probs are making me anxious. You can loose a lot of money just being a few minutes offline ...

Hope you got your probs solved....
  • #3,379
  • Edited 2:17pm Jul 14, 2008 2:03pm | Edited 2:17pm
Quoting MaMood
Hi fti,

How are you doing?
are you still in rescue mode?

By the way: Does your broker have system probs? or your internet provider? or your computer?
Such kind of probs are making me anxious. You can loose a lot of money just being a few minutes offline ...

Hope you got your probs solved....
Hi MaMood,

For trading outside of institutions, we have little recourse as we are dependent on the internet. It will never be as robust as the banks access, as they spend millions on sysytem backup and line access.
It is not clear where the weakness is. The weakest point in the access chain is the strongest robustness.
This is the reason why , contigencies and capital buffers must always be in position for wierd eventualities. This access risk is inevitable for retail forex trading.

sold x 5 x eurusd x 1.5920

yes mahmood,
I am still engaged in my position rescue.
Could have done better, but was unwilling to expose the normal skew, due to coiling of the patterns.
Dealers and traders we have out work cut for us, there is nosuch liberty as time restricts and availability restricts. Further mindset robustness and coherant risk management is integral part of the prerequisites of the business.People think thsis business is easy money, that , is the archelles heel of many uninitiated.

As you may have noticed, sometimes, we burnt our candle both ends for noughts, but if we didn't then we fail.

regards

sold x3 eur/usd x 1.5921
sold x4 eur/usd x 1.5923
  • #3,380
  • Edited 2:51pm Jul 14, 2008 2:22pm | Edited 2:51pm
sold x3 eurusd x 1.5923

now squared.
looking to reestablish scout for carry trade.

OK, these has been a couple of follow the dancer sessions.
I hope that many who do not understand, will after having seen it live, will have a better understanding and feel as how to dance, with the correct mindset, MM and capitalisation.

A pot of roses was never promised.
However if you are dedicated, and progress diligently, with a level mind on your shoulders, you may just make it to the pinnacle.

You have seen how I do it, you may be a little unsure why you cannot find a rigid regiment to follow. This , non rigidity coupled with the necessary ingredients , which I have always emphasised will stand you good , if you can put it into practise.

As you have seen it done, now, do it for yourself.
Do you have what it takes??
Only you can answer that question.

I shall be around as much as I can , in case of any questions, you may like to ask. But I will not be available as regularly.
I may do more show blotter guided trade sessions again, if they is critical need for such, and to my convenence if fits.

Its the deep end , if you take the plunge, either swim or sink.
Its all you.

Trade well.
Good Fortune.
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