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  • #19,661
  • Aug 11, 2008 10:02pm Aug 11, 2008 10:02pm
2 trades.

20 PIPS or so.

(Slept through EURO session)

Keep in mind I hit single and doubles.
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  • #19,662
  • Aug 11, 2008 10:05pm Aug 11, 2008 10:05pm
I am watching It


Bruce
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  • #19,663
  • Aug 11, 2008 10:06pm Aug 11, 2008 10:06pm
Quoting Warren Forex
Here is part of what I just got in a email. It is a free service so I will post part of it. It differs from my view but does make some sense so here it is for all of us to read.

My Answer is: 1.3500


Here is what I think, world economy is doing bad. US went ahead of
the curve and cut rates first therefore is reaping the better
results. ECB didn't cut rate but instead used stronger Euro to
hedge against rising crude prices, while everyone in America is
calling "uncle", Trichet and company is chilling with Pina Coladas
under the rain... (or sun). Now the situation has turned making US
the preferred currency, as it is the default currency pair of all
(money out of commodities gives USD an instant boost), EURO can no
longer effectively hedge inflation as inflation is easing
(lower crude prices), so right now EURO Zone is hurting with their
exports.

Trichet intentionally went dovish with his statement because
secretly he wants EURO to devaluate, but he can't risk cutting
rates, something to do with losing credibility of cutting rate 2
months ago and then raise rate... So the only viable way to keep Euro
down and possibly revive their export industry is verbal
intervention.



So is 1.35 possible? I certainly think so, crude went from 147 to
117, that's 20%, EUR can also go from 1.60 to 1.30, 20%.
When will this happen? I don't know, but it is definitely in
progress, I no longer look for areas to trade EUR/USD retracement,
as bad economic news from Eurozone is expected for the rest of the
quarter and maybe extending to 4th quarter. So best bet is to SELL
EUR/USD on pullbacks... A new trend has emerged.

Bruce
Thanks for sharing. I am thinking the same. Time has changed and dollar is going to comeback.
Commodity Bulls are gone bears took over.
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  • #19,664
  • Aug 11, 2008 10:07pm Aug 11, 2008 10:07pm
Again - not easy to read but if you look at it closely you should get the point.

I think it was around 23 trades with 3 losses.

That's an estimate but close.
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  • #19,665
  • Aug 11, 2008 10:09pm Aug 11, 2008 10:09pm
02:18 EUR/USD: Settles After Selling Flows Cease For Now Sydney, August 12: The EUR/USD ran into decent buying interest ahead of the 1.4850 level that is rumoured to be option related. The selling flows have stopped for the time-being and traders note that gold is recovering a bit after selling down to 803.50 at one stage. The EUR/USD continues to trade with an offered tone and analysts say that the risk is still to the downside. The EUR/USD trades 1.4882/87. -- [email protected]
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  • #19,666
  • Aug 11, 2008 10:13pm Aug 11, 2008 10:13pm
Quoting acumen
Again - not easy to read but if you look at it closely you should get the point.

I think it was around 23 trades with 3 losses.

That's an estimate but close.
I know you are a good FX trader. You have your approach and it works. I am happy for you. Good Work !!!


Bruce
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  • #19,667
  • Aug 11, 2008 10:14pm Aug 11, 2008 10:14pm
I didn't think so
"I spilled spot remover on my dog. He's gone now." - Steven Wright
  • #19,668
  • Aug 11, 2008 10:14pm Aug 11, 2008 10:14pm
Quoting Warren Forex
I know you are a good FX trader. You have your approach and it works. I am happy for you. Good Work !!!


Bruce
Mike
  • #19,669
  • Aug 11, 2008 10:21pm Aug 11, 2008 10:21pm
It is unlikely that an individual trader (commercial or retail) could influence the forex by much if they were trying to counter the trend. Some have some ability to influence the market through what they say (like Bill Gross) but if they were merely trying to invest to make a change it is not likely.

This is one of the big reasons that finance professional argue that the market is random and efficient and to a certain extent that is true. There are some exception to that rule however, like the gang-up initiated by George Soros against the bank of England in 1992 but he did not do that entirely by himself he just made it sound like he did The secret to that success was that everyone jumped into that trade. So in a way it was the BOE against the market.

The response above is from the PFX guys.

Thanks for the quick response guys.
  • #19,670
  • Aug 11, 2008 10:24pm Aug 11, 2008 10:24pm
No close below 1.4870 since 2007.

IF YOU DISCOUNT THE WICKS then a close below 1.4870 officially breaks the weekly support.
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  • #19,671
  • Aug 11, 2008 10:27pm Aug 11, 2008 10:27pm
Quoting Warren Forex
I only said it would go below 106.00 before it hit 110.00 again and the record shows it did.

As for 1.4800 let me put it at 1.4800. Bruce
Well, then I mis-understood you... my bad. I just thought you meant something else here when you went off and staked your reputation and all. I don't want to argue with you bruce, whatever you say you meant is fine with me. Less angst and a paragraph or so of genuine analysis from yourself instead of the news services (talk about a LAGGING indicator!!) would be something to consider tho.

Quoting Warren Forex
I again suggest very strongly that you cannot win in Forex if you use the charts to tell you it might go to 107.00

What are your thoughts on this post ?
Bruce
No comment.

These 2 posts minutes apart from June 9, 2008...
Quoting dove_alliance
The trend for this week had busted the 105.57 resistance that was set in the 1st week of May... As of right now the upper trend is set at 110.00... How long will it take to get there is your guess is good as mine...
Quoting Warren Forex
Let me just tell you this. I will stake my reputation by telling you it will NEVER happen at the moment. Your charts and indicators cannot tell you that with 100 % confidence. As for indicators ?

107.00 ? Maybe ? 108.00 I Think NOT...

Thanks for all your help. You have made my day. WOW !!! I will be rich soon as I watch USD/JPY move towards 107.00, then 108.00, then 109.00 and finally 110 in the year 2010 !!!

How is your EGO doing ? Mine is fine as wine and if USD/JPY gets OVER 107.00, I will be the first to post that you called it right and I was wrong. Hence My Ego is under control. Will you post here when USD/JPY 103.00 before it touches 108.00 ? Well the days of +108's 3 days later from June 12 thru June 26 came well before the hour it touched 103.76 on July 16.

We shall see ... We shall see ... It trades at USD/JPY 106.07 Bid now as the Dow is UP but 28 at the moment with more bad economic news just around the corner. The facts say Dow at 11,000 before 14,000 so USD/JPY at 103.00 before 108.00

Bruce
Not. And when you come across like the fount of all wisdom on nearly every post, citing endless sources ad nauseum, well it's just all too much. FF is gonna have to get another server just to handle your posts.
FUBAR...
  • #19,672
  • Aug 11, 2008 10:28pm Aug 11, 2008 10:28pm
Quoting pipmac
No close below 1.4870 since 2007.

IF YOU DISCOUNT THE WICKS then a close below 1.4870 officially breaks the weekly support.
I Guess you mean a close at 5:00 PM ?


Bruce
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  • #19,673
  • Aug 11, 2008 10:29pm Aug 11, 2008 10:29pm
Quoting acumen
Again - not easy to read but if you look at it closely you should get the point.

I think it was around 23 trades with 3 losses.

That's an estimate but close.
That's a lot of trades in a pretty short time frame in a strong downtrend; do you prefer scalping as your trading style?
  • #19,674
  • Aug 11, 2008 10:31pm Aug 11, 2008 10:31pm
Quoting Warren Forex
I Guess you mean a close at 5:00 PM ?


Bruce

SUre but i don't think you would want to wait that long....

Short this puppy below 1.4870 with a 30 pip SL (5M close below)---and pray
  • #19,675
  • Aug 11, 2008 10:36pm Aug 11, 2008 10:36pm
Quoting ak4x
Well, then I mis-understood you... my bad. I just thought you meant something else here when you went off and staked your reputation and all. I don't want to argue with you bruce, whatever you say you meant is fine with me. Less angst and a paragraph or so of genuine analysis from yourself instead of the news services (talk about a LAGGING indicator!!) would be something to consider tho.


No comment.

These 2 posts minutes apart from June 9, 2008...




Not. And when you come across like the fount of all wisdom on nearly every post, citing endless sources ad nauseum, well it's just all too much. FF is gonna have to get another server just to handle your posts.

I was having certain conflicts with Dove so it showed in my posts.

We both held strong views.

Acumen and I do also but we communicate great now with respect.

The Dove had and has a following so it was about both our Ego's

I think we both got banned once by Twee.

I respect Dove and his skills


Bruce
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  • #19,676
  • Aug 11, 2008 10:39pm Aug 11, 2008 10:39pm
Quoting Subdude
That's a lot of trades in a pretty short time frame in a strong downtrend; do you prefer scalping as your trading style?
Yes.
  • #19,677
  • Aug 11, 2008 10:40pm Aug 11, 2008 10:40pm
Quoting Warren Forex
I respect Dove and his skills

Bruce
I genuinely appreciate and respect that. You will never hear from me again on this subject.
FUBAR...
  • #19,678
  • Aug 11, 2008 10:43pm Aug 11, 2008 10:43pm
Excellent my dear Watson!
Now for my second question, what shape is Earth?
Quoting acumen
You and I are retail traders.
  • #19,679
  • Aug 11, 2008 10:46pm Aug 11, 2008 10:46pm
Photos
http://www.boston.com/bigpicture/200...h_ossetia.html
  • #19,680
  • Aug 11, 2008 10:49pm Aug 11, 2008 10:49pm
Hi everyone!

I have been reading this thread on and off for a few months and finally joined the party.

Is it me or is the EUR/USD constipating/moving sideways?

Please pardon me if I post something wrong, as I am very new to Forex as well as posting in forums.

Thanks.
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