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Jacko's Forex House of Pleasure and Pain

  • #5,161
  • Aug 22, 2008 11:37am Aug 22, 2008 11:37am
Quoting abducted
i hpe that
bc i went long at 1.4783
gl 2 u all
n have a nice piping day
Did you came directly from IRC to this forum? You know that kids under 18 are not allowed to trade forex, don't you?
  • #5,162
  • Aug 22, 2008 12:25pm Aug 22, 2008 12:25pm
Quoting hendrix
Did you came directly from IRC to this forum? You know that kids under 18 are not allowed to trade forex, don't you?
Maybe we can have him confirm trends on charts!
  • #5,163
  • Aug 22, 2008 5:30pm Aug 22, 2008 5:30pm
Quoting Fx_Genius
Maybe we can have him confirm trends on charts!
I have a crayon.
Buy the dips, Sell the rallies.
  • #5,164
  • Aug 23, 2008 1:32am Aug 23, 2008 1:32am
I actually had to read his post a few times to understand what he was trying to say.
  • #5,165
  • Aug 23, 2008 5:31am Aug 23, 2008 5:31am
Quoting FrostCall
I actually had to read his post a few times to understand what he was trying to say.
Perhaps you couild translate for the rest of us then

M
  • #5,166
  • Aug 23, 2008 5:59am Aug 23, 2008 5:59am
Quoting mp777
Perhaps you couild translate for the rest of us then

M
Maybe I can help, I speak 1337 (Leet).
Quoting abducted
i hpe that bc i went long at 1.4783
I hope that because I went long at 1.4783.
Quoting abducted
gl 2 u all
Good luck to all of you. (or from southern US) Good luck y'all.
Quoting abducted
n have a nice piping day
And have a nice trading day.
  • #5,167
  • Aug 23, 2008 7:02am Aug 23, 2008 7:02am
@Fx_Genius: LOL =) That was cool.

Btw, does any of you consider to go long at 1.4750? It seems like a nice opportunity, but I have a feeling, that the current (medium term) sentiment about USD is mostly bullish among professional fund managers... Something like 70 to 30. There was also a news today on our national news brodcaster, which claims, that Mr. Warren Buffett has said on Friday, that he is "no longer betting against the USD" (here is the original news (http://www.rtvslo.si/modload.php?&c_mod=rnews&op=sections&func=read&c_menu=4&c_id=181129), but it is in Slovenian language)

The logic tells us, that US is in deep trouble and that the USD should continue to weaken, but since we humans act and live by our emotions, I wonder, if USD won't continue to get stronger in the medium term (at least for a few weeks).

This is just me thinking out loud and I will most probably go long at 1.4750 on Monday (if the price drops to that level), but I will have a profit target set at 1.4850. Anyway, it would be nice to hear what are your thoughts on the current market.
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  • #5,168
  • Aug 23, 2008 10:55am Aug 23, 2008 10:55am
I agree that the market is a bit irrational right now. Bernanke says that the current US financial crisis is taking a toll on the US economy right now and that it's the most challenging in recent memory. However, the price of oil fell sharply and the Dow closed up. In the US, the price of oil is a REALLY big deal. It seems rather apparent that the dollar should still be weakening right now, but it's getting a slight bull run. Of course, if you move your chart back to the weekly or monthly, you can still see a clear trend...
  • #5,169
  • Aug 23, 2008 11:21am Aug 23, 2008 11:21am
Yes, US is in deep trouble, but its GDP still grew by +1.9%, while Germany contracted 0.5%, France -0.3%, and UK stagnated.

By the way, I went long EU @1.4796.

Quoting hendrix
@Fx_Genius: LOL =) That was cool.

The logic tells us, that US is in deep trouble and that the USD should continue to weaken, but since we humans act and live by our emotions, I wonder, if USD won't continue to get stronger in the medium term (at least for a few weeks).

This is just me thinking out loud and I will most probably go long at 1.4750 on Monday (if the price drops to that level), but I will have a profit target set at 1.4850. Anyway, it would be nice to hear what are your thoughts on the current market.
  • #5,170
  • Aug 23, 2008 12:51pm Aug 23, 2008 12:51pm
Quoting hendrix
@Fx_Genius: LOL =) That was cool.
Thanks

Quoting hendrix
Btw, does any of you consider to go long at 1.4750? It seems like a nice opportunity, but I have a feeling, that the current (medium term) sentiment about USD is mostly bullish among professional fund managers... Something like 70 to 30. There was also a news today on our national news brodcaster, which claims, that Mr. Warren Buffett has said on Friday, that he is "no longer betting against the USD" (here is the original news (http://www.rtvslo.si/modload.php?&c_mod=rnews&op=sections&func=read&c_menu=4&c_id=181129), but it is in Slovenian language)
Long at 1.490 (E$, 200 SL & Long N$), because I thought it was far enough, maybe not, but I can AH if needed. As for WB, His BRK-a went from $149,200 per share in December of 2007 to $116,100 last close. A loss of $33,100 per share, so he has to be hurting also (so to speak as he is a billionaire). Buffett says economy's troubles will continue (http://biz.yahoo.com/ap/080822/buffett_economy.html?.v=12)
~~
He's confident the nation will be doing better five years from now, Buffett said, but the economy could be worse five months from now.
~~

Quoting hendrix
The logic tells us, that US is in deep trouble and that the USD should continue to weaken, but since we humans act and live by our emotions, I wonder, if USD won't continue to get stronger in the medium term (at least for a few weeks).
Here are a few links to info I have been reading since Jan-Feb. You might have to sign up for free login but it's worth it. You might find the 12 steps almost prophetic considering he wrote it in February.

The Rising Risk of a Systemic Financial Meltdown: The Twelve Steps to Financial Disaster Nouriel Roubini (http://www.rgemonitor.com/roubini-monitor/bio/2/nouriel_roubini) | Feb 5, 2008
http://www.rgemonitor.com/blog/roubini/242290/

The worst economic and financial crisis in decades Nouriel Roubini (http://www.rgemonitor.com/roubini-monitor/bio/2/nouriel_roubini) | Aug 20, 2008
http://www.rgemonitor.com/roubini-monitor/253378/the_worst_economic_and_financial_crisis_in_decades

Quoting hendrix
This is just me thinking out loud and I will most probably go long at 1.4750 on Monday (if the price drops to that level), but I will have a profit target set at 1.4850. Anyway, it would be nice to hear what are your thoughts on the current market.
As they say, The fat lady hasn't started to sing yet. I don't set profit targets but I can see the trend picking back up past last run. It might be awhile but I think this year.
  • #5,171
  • Aug 23, 2008 1:16pm Aug 23, 2008 1:16pm
Thanks for sharing your views and Fx_Genius, thanks for posting the link to the original story. Our news agency seriously misinterpreted the article and partially "blamed" Mr. Buffett's quotes for the Friday's USD strengthening.
  • #5,172
  • Aug 23, 2008 1:19pm Aug 23, 2008 1:19pm
Btw, abducted, sorry for teasing you, but it would be much more easier to read your posts, if you'd use "normal" English instead of "leet" language.
  • #5,173
  • Edited 1:25pm Aug 23, 2008 1:24pm | Edited 1:25pm
Hello ,
I will be gratefull for any help
Need more info -pdf books with money_managemen, reward-to-risk ratio
Please if u know good link for that post it.
Thanks


Ps: What the SL Pip average for day trader, 4H trader with eur/usd?
  • #5,174
  • Aug 23, 2008 1:49pm Aug 23, 2008 1:49pm
Maybe Buffett don't have an open position against the dollar because he is buying a lot of equities in this market now that the current conditions are favorable for him as a value investor.

If the oil price is an inverse correlative to the dollar then this is another reason to keep selling dollars and buying euros.

Quote
"Over the course of time, it's a bull market,'' the chairman of Rogers Holdings said today after an investor conference in Kuala Lumpur. While the oil price could fall to $75 or rise to $175, the market will continue to increase over the next 10 years, he said. (Bloomberg).
  • #5,175
  • Aug 23, 2008 4:08pm Aug 23, 2008 4:08pm
Quoting egkid
Hello ,
I will be gratefull for any help
Need more info -pdf books with money_managemen, reward-to-risk ratio
Please if u know good link for that post it.
Thanks


Ps: What the SL Pip average for day trader, 4H trader with eur/usd?
Try this site http://www.babypips.com/school/money_management.html

I don't know if you will get an answer in this thread for SL on day trading. My trades can last weeks. I run a 200 SL.
  • #5,176
  • Aug 23, 2008 9:20pm Aug 23, 2008 9:20pm
Quoting Fx_Genius
Thanks
Long at 1.490 (E$, 200 SL & Long N$), because I thought it was far enough, maybe not, but I can AH if needed. As for WB, His BRK

abducted where are u?

Good Trading
  • #5,177
  • Aug 23, 2008 10:00pm Aug 23, 2008 10:00pm
it seems to me , that right now conflict between Russia and Georgia playing big role in the price of Euro , because Europe is very much dependent on Russian oil and gas . As soon as war started euro fell like a rock , russians were supposed to leave Georgia last friday and Euro started to recover and now when russians decided to stay in port city of Poti and increase number of peacekeepers in Abhazia and Ossetia Euro fell again....The bottom line is that instability in euro zone is reflected in price of currency.
  • #5,178
  • Aug 23, 2008 11:34pm Aug 23, 2008 11:34pm
Quoting egkid
Hello ,
I will be gratefull for any help
Need more info -pdf books with money_managemen, reward-to-risk ratio
Please if u know good link for that post it.
Thanks


Ps: What the SL Pip average for day trader, 4H trader with eur/usd?
Whatever you do, don't try to complicate things too much. Read this post (http://www.forexfactory.com/showpost.php?p=1465375&postcount=10) from fijitrader.

I used to think, that Van K. Tharp's book called Trade Your Way to Financial Freedom (http://www.amazon.com/Trade-Your-Way-Financial-Freedom/dp/0070647623) was The Holy Grail about MM, but it turned out, that the only useful thing for me was the First Chapter - everything else was just statistics.
  • #5,179
  • Aug 24, 2008 7:12am Aug 24, 2008 7:12am
Quoting hendrix
Whatever you do, don't try to complicate things too much. Read this post (http://www.forexfactory.com/showpost.php?p=1465375&postcount=10) from fijitrader.

I used to think, that Van K. Tharp's book called Trade Your Way to Financial Freedom (http://www.amazon.com/Trade-Your-Way-Financial-Freedom/dp/0070647623) was The Holy Grail about MM, but it turned out, that the only useful thing for me was the First Chapter - everything else was just statistics.
Well at least the price is about right.....3 bucks...
Same Whore .... Different Dress
  • #5,180
  • Aug 24, 2008 7:17pm Aug 24, 2008 7:17pm
Quoting forexfixer
The Jacko 100 pip retracement looks like starting. Sold everything at 1.4880

I am off to the boozer for a big lunch. Thanks Jacko. I will party hard tonight. I salute you.
In the office and ready for another big money week. Trades this month:
Sold 5900 Bought 4650 Profit 1250 pips
Bought 4600 Sold 4880 Profit 220 pips


When does Jacko get back from Beijing?
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