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  • #20,281
  • Aug 13, 2008 10:34pm Aug 13, 2008 10:34pm
Quoting Jay Walker
We will need to hook up for some fishing sometimes.

I haven't been down under yet but I got some friends there and another one moving to Brisbane at the end of the year.

Just let me know when Danii is out of the country, I'm afraid she'll ruin my trip.
Yea for sure mate, let us know when you're in town.

I'm just up north on the sunshine coast about an hour drive from Brisbane. Great fishing all around this part of Aus too.
  • #20,282
  • Aug 13, 2008 10:36pm Aug 13, 2008 10:36pm
Ok, so the GDP data is coming out in 2hrs.

I have already said that I am short.

post if you are long or short? or if you have a limit order.
  • #20,283
  • Aug 13, 2008 10:42pm Aug 13, 2008 10:42pm
Quoting daanman3
post if you are long or short? or if you have a limit order.
I have a long limit order @ 1.4995

The reality is that if it gets hit, it won't be until next week at least.
Not all sins are created equal
  • #20,284
  • Edited Aug 14, 2008 12:03am Aug 13, 2008 10:46pm | Edited Aug 14, 2008 12:03am
Quoting FX Phoenix
This is a great point ladies and gents.

I can see there is a lot of strong opinions here and often conflicting. It has been cool that the newbies have introduced themselves as new players and humbly asked for advise. It would be nice to know for those of us who are learning as fast as we can, who on this thread makes the living full time trading, of at least makes enough out of trading to live opulently?

Is this a rude question?

Phoenix.
You can make huge contributions and not manage any money but your own.

Newbies often have great insights because they aren't biased by tainted information.

I'm a successful trader but I could be dead wrong about tomorrow.

My opulent comment was an attempt at humor that's not going over very well.

What if I told you I don't work and only trade DEMO accounts as a hobby, however my hit rate is consistently above 75% and haven't had a losing month since June 06 and I'm averaging 15% on a monthly basis. Would that lessen my contribution?

Since I have to keep track of my trades I've enclosed a screen shot of my last 900 trades.
Attached Image
  • #20,285
  • Aug 13, 2008 10:46pm Aug 13, 2008 10:46pm
Quoting Jay Walker
I have a long limit order @ 1.4995

The reality is that if it gets hit, it won't be until next week at least.
Ditto, long limit @ 1.50 flat

Gold is making a move up, could help the cause.
  • #20,286
  • Aug 13, 2008 10:53pm Aug 13, 2008 10:53pm
Quoting NuckingFuts
Ditto, long limit @ 1.50 flat

Gold is making a move up, could help the cause.
I have stop at about that area.

Anybody else with open positions?
  • #20,287
  • Aug 13, 2008 10:54pm Aug 13, 2008 10:54pm
Quoting daanman3
Ok, so the GDP data is coming out in 2hrs.

I have already said that I am short.

post if you are long or short? or if you have a limit order.
I have a small short position open.

I don't like having money on the table during big releases - it's a crap shoot but the overwhelming bias is short.
  • #20,288
  • Aug 13, 2008 10:56pm Aug 13, 2008 10:56pm
Quoting acumen
You can make huge contributions and not manage any money but your own.

Newbies often have great insights because they aren't biased by tainted information.

I'm a successful trader but I could be dead wrong about tomorrow.

My opulent comment was an attempt at humor that's not going over very well.

What if I told you I don't work and only trade DEMO accounts as a hobby, however my hit rate is consistently above 75% and haven't had a losing month since June 06 and I'm averaging 15% on a monthly basis. Would that lessen my contribution?

Here's what I'll do. Since I have to keep track of my trades I've enclosed a screen shot of my last 900 trades.

Truth is - I don't want you to listen to me. You need to create your own trading identity.
Well thank you opulence, this answer gave more than the question deserved. I would like to say though that I am a little above newbie and obviously quite a bit below your level. I am not looking to piggy back off those who claim wealth. There are lots of software and trader rooms out there that promise to feed me fish. I am interested in catching fish and YES I am all about getting it right.

Two reasons I follow this thread is that I am keen to learn the mindset of those who trade and the language used. I am also perhaps one of the few who appreciate's Warrens input as he refers to a bundle of input sources that, while may be tainted, provide a new insight to the language and refers to the fundermental inputs that make the market move. Not that I am weighing into that argument.

Anyway back to fishing. Appreciate your thought Acumen

Phoenix
  • #20,289
  • Aug 13, 2008 10:58pm Aug 13, 2008 10:58pm
Quoting acumen
I have a small short position open.

I don't like having money on the table during big releases - it's a crap shoot but the overwhelming bias is short.
Absolutely true, I have also not entered a full position. I will add to my position if it breaks 1.4800.
  • #20,290
  • Aug 13, 2008 10:58pm Aug 13, 2008 10:58pm
Quoting Jay Walker
Hi Phoenix,

Yes, it is a rude question.

I understand where you're coming from. You want to get the opinion of one who knows the subject.

On the flipside of the coin, there has been countless "do you do this for a living" threads and it inevitably leads to "how much of a living". I wouldn't be surprised if some individuals on here got Personal Messages that are really probing if not outright begging.

If everyone on this forum was a multimillionaire say and you saw a post that seemed completely absurd to you, would you put follow it anyways simply because it comes from someone who's wealthy?

What I'm getting at is that you need to fine tune your own B.S. detector.

As for myself, I trade part time and I have my good moments and bad. Fortunately, I have more good moments but that doesn't mean that my word is the gospel.
Thanks for your input Jay, wouldn't concern, I am not here begging. I am however with your help learning to fish.

Thanks
Phoenix
  • #20,291
  • Aug 13, 2008 11:01pm Aug 13, 2008 11:01pm
Quoting FX Phoenix
Well thank you opulence, this answer gave more than the question deserved. I would like to say though that I am a little above newbie and obviously quite a bit below your level. I am not looking to piggy back off those who claim wealth. There are lots of software and trader rooms out there that promise to feed me fish. I am interested in catching fish and YES I am all about getting it right.

Two reasons I follow this thread is that I am keen to learn the mindset of those who trade and the language used. I am also perhaps one of the few who appreciate's Warrens input as he refers to a bundle of input sources that, while may be tainted, provide a new insight to the language and refers to the fundermental inputs that make the market move. Not that I am weighing into that argument.

Anyway back to fishing. Appreciate your thought Acumen

Phoenix
Sounds to me like you are already a trader.
  • #20,292
  • Aug 13, 2008 11:04pm Aug 13, 2008 11:04pm
Quoting acumen
Sounds to me like you are already a trader.
Let's just say that it is a title my wife will put on a TShirt when I can consistantly bring home 15% per month.
  • #20,293
  • Aug 13, 2008 11:05pm Aug 13, 2008 11:05pm
Quoting FX Phoenix
Thanks for your input Jay, wouldn't concern, I am not here begging. I am however with your help learning to fish.

Thanks
Phoenix
Hey, if you're here to learn to fish, I'll do all I can. Heck, I'll even spare a few rods if I can
Not all sins are created equal
  • #20,294
  • Aug 13, 2008 11:07pm Aug 13, 2008 11:07pm
Quoting FX Phoenix
I am also perhaps one of the few who appreciate's Warrens input as he refers to a bundle of input sources that, while may be tainted, provide a new insight to the language and refers to the fundermental inputs that make the market move.
I want to say something but I won't, lets not talk about someone that isn't here.
  • #20,295
  • Aug 13, 2008 11:09pm Aug 13, 2008 11:09pm
1H Tf looks like going up, right ?
  • #20,296
  • Aug 13, 2008 11:11pm Aug 13, 2008 11:11pm
Quoting Jay Walker
Hey, if you're here to learn to fish, I'll do all I can. Heck, I'll even spare a few rods if I can
And that will be appreciated, thanks, I will bring the beers.
  • #20,297
  • Aug 13, 2008 11:26pm Aug 13, 2008 11:26pm
So it seems a lot of "high" importance news is coming out this morning. The first of which is the gross domestic product and the consumer price index of the Euro. Does anyone have any insight they would like to share about these news tidbits?
  • #20,298
  • Aug 13, 2008 11:36pm Aug 13, 2008 11:36pm
Quoting Doniboy
So it seems a lot of "high" importance news is coming out this morning. The first of which is the gross domestic product and the consumer price index of the Euro. Does anyone have any insight they would like to share about these news tidbits?
News is often anticipated before it is actually released. As a result, often, there is less momentum following news releases than before.

Euro will most likely fall if the gdp an cpi are bearish. However, even if results are less than expected, consider it minor support and a second chance for all those who missed the boat.
  • #20,299
  • Aug 13, 2008 11:39pm Aug 13, 2008 11:39pm
Quoting Doniboy
So it seems a lot of "high" importance news is coming out this morning. The first of which is the gross domestic product and the consumer price index of the Euro. Does anyone have any insight they would like to share about these news tidbits?
I think that Trichet warned about slowing Growth during his press conference so I am expecting this number to come out worst then expected. This is regarding the GDP. I wrote this in my previous post.

With the CPI, it is measurement of headline inflation, since core CPI is a different number. So I am expecting it to come out worst then expected because of the massive drop off in commodities prices last month.

BOE also said in their report yesterday that Inflation is likely to moderate.
  • #20,300
  • Aug 14, 2008 12:36am Aug 14, 2008 12:36am
Daily range in EUR/USD - buy 1,4860-80 - sell 1,4935-50
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