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Reading The Stupid Dogs' Mind

  • #1
  • First Post: Aug 24, 2008 8:27pm Aug 24, 2008 8:27pm
In the other thread (which had been closed down for some unclear reason - well I guess, it must be one of the dogs who closed it down, for their own sake's reason), I mentioned about a new concept that I found recently about how the dogs are trading.

I found it worked quite effectilvely.

Here's the trick that I found :

Monday, it's a critical time to finetune the week's movement. If the moement breaks either new high/low (compared to last Friday's), the movement will go along that trend.

Monday, August 25,2008 1:20 AM :

GBP/USD has broken a new low (actually it HAD been starting from the beginning of the market when it broke 1.8501 +> compared to 1.98505 previous low).

So, it is CLEAR that GBP/USD will fall down. And for theose who caught the moment (sold @ 1.8495), in 5 minute time, he/she would gain almost 100 pips just now. If we carefully analyze, this was actually a silent signal from the dogs : WE are going down for sure!

Next target ? Pheww! 1.7800 or 1.7760 for sure!

Happy trading!
  • #2
  • Aug 24, 2008 10:35pm Aug 24, 2008 10:35pm
Earlier tonight I went Long the GBP/USD pair at 1.8503. Before I could get S / L in it dropped like 50 Pips--in about a blink of an eye or two.

Damn!

Thankfully, this is a very light trade..
  • #3
  • Aug 24, 2008 11:24pm Aug 24, 2008 11:24pm
Quoting yorygog
Earlier tonight I went Long the GBP/USD pair at 1.8503. Before I could get S / L in it dropped like 50 Pips--in about a blink of an eye or two.

Damn!

Thankfully, this is a very light trade..
Sorry to hear that Bro

I also experienced a bitter loss before. When GBP/USD dropped freely from 1.9400 to 1.91xx area, I lost about 250 pips (i opened 5 positions at once @ 1.9450, hoping that it would go up to 1.97xx area - in fact, instead of going up that high, it slipped down tragically). But luckily, I saw through their (those Big Dogs') new trading system.

So, I immediately open sell position (also 5 positions @ once, with lower amount) to cure up the loss. Though I gave a good kick, but it didn't cure up yet. I only gain 500 pips (100 or so each).

The next thing I did was waiting. Last monday, I missed the first minutes of trading when GBP/USD slipped another 100 pips down. But that marked the Cable movement for the entire week. So, I relaxly opened sell and everytime it retraced I opened sell.

We might not know how high it will go, but if Monday marks a downfall, the rest of the week will follow. This is an amazing new trend that the BD set!

I proved this system by opening normal trade for the entire week, and amazingly, I gained about 2000 pips alone last week
  • #4
  • Aug 25, 2008 12:43am Aug 25, 2008 12:43am
Well I haven't lost yet and seeing how I entered this trade with such a small entry position I still have more room to maneuver. The bad thing is, in my weekend notes i stated; :"Stay away from the GBP/USD this week"...at least give it a couple days.

Another rookie mistake.

I am in no means out of this trade, reinforcements are at hand so I can ride thing out. I am convinced it will rally to a little above the weekly open.
  • #5
  • Edited 2:32am Aug 25, 2008 1:34am | Edited 2:32am
I'd like to learn more dog tricks... someone should really put out an article on this.

I'm sure I've seen little subtle signals before price moves in a particular manner - it's like it's signalling to everyone "in the know" what the intention is going to be. Big businesses get together and price fix all the time - then why wouldn't big $ traders... much easier than learning a lot of technical analysis...


There was an article I saw about one of the Japanese banks and one of the paragraphs stated:


A Day in the Life of the Bank of Japan's Foreign Exchange Dealers



Written by Masafumi Yamamoto, Foreign Exchange Division



Foreign exchange dealers are, in general, very early birds, and dealers at the Bank of Japan are no exception. We start work before 7:00 a.m. JST when morning trading in the Sydney market in Australia, which starts two hours earlier, peaks out. Our first job is to get ready for the morning market reports meeting by gathering, sorting, and analyzing information. We first check the previous day's developments in the New York and European foreign exchange markets, and then make our own forecasts for the day by listing up bull and bear factors as well as by exchanging views with market participants.

LOL... well I don't know what they call it but I it smells a lot like aiding and abetting to me.

Daisygirl
  • #6
  • Aug 25, 2008 2:09am Aug 25, 2008 2:09am
The GBP seems to making a bit of a run on the greenback.
  • #7
  • Aug 25, 2008 3:36am Aug 25, 2008 3:36am
As Mark Douglas says, you have to think like a successful trader, using his system won't make it.
So, thinking like the "big shots" should help, even if I wonder, are they really that basic? if it's up for the week go long, if it is down go short? I have seen the market taking off making huge dojis on daily and ranging for weeks.
The theory still interest me, like I was interested about Tkimble thread http://www.forexfactory.com/showthread.php?t=11937 which has very similar way of dealing with this, trade the breakout from the previous week high/low.
I look forward to see some trade with this strategy!
  • #8
  • Aug 25, 2008 1:28pm Aug 25, 2008 1:28pm
Quoting haibara
In the other thread (which had been closed down for some unclear reason - well I guess, it must be one of the dogs who closed it down, for their own sake's reason), I mentioned about a new concept that I found recently about how the dogs are trading.

I found it worked quite effectilvely.

Here's the trick that I found :

Monday, it's a critical time to finetune the week's movement. If the moement breaks either new high/low (compared to last Friday's), the movement will go along that trend.

Monday, August 25,2008 1:20 AM :

GBP/USD has broken a new low (actually it HAD been starting from the beginning of the market when it broke 1.8501 +> compared to 1.98505 previous low).

So, it is CLEAR that GBP/USD will fall down. And for theose who caught the moment (sold @ 1.8495), in 5 minute time, he/she would gain almost 100 pips just now. If we carefully analyze, this was actually a silent signal from the dogs : WE are going down for sure!

Next target ? Pheww! 1.7800 or 1.7760 for sure!

Happy trading!
First break of previous week's low during low volume hours is a statistically proven FADE, particularly once a support is hit. Where are your silent dogs??
  • #9
  • Aug 25, 2008 6:53pm Aug 25, 2008 6:53pm
Well, aafter making a bottom low early yesterday (Monday, Aug 25), the cable was trying (its hard) to "revoke" the habits. It did go up, but no matter how hard it try, the market still won.

It didn't break the new high either. It was just going as much as around 50 pips above the closing level on last Friday. The highest is still far away (1.9800).

So, the "Monday Blues" concept is still working. I'm curious if those BD are trying to change the line. I'm always interested to know the way they think that's the only way we can survive in this cruel market, and of course, make huge pips of it!
  • #10
  • Aug 25, 2008 7:33pm Aug 25, 2008 7:33pm
Looking forward to tomorrow's hindsight analysis, meanwhile picking up some small longs.
  • #11
  • Aug 25, 2008 8:30pm Aug 25, 2008 8:30pm
Quoting bobblong
Looking forward to tomorrow's hindsight analysis, meanwhile picking up some small longs.
Just a reminder Bro, be cautious when go reverse stream, since we don't know when and at what level the pair will turn around. It is best to always take sell at higher ground at this stage.
  • #12
  • Aug 31, 2008 10:07pm Aug 31, 2008 10:07pm
Good morning Fellas! It's been amazing to watch how GU freely dropped. More amazingly it's been thrice in 3 consecutive weeks! In less than 4 first-trading hours, GU had been dropped more than 100 pips. How about this week's move ? I'm still looking for a "confirmation" if GU will go to its next target (1.7760). If GU breaks down below 1.8000, then GU will definitely go down to 1.7760. Contrary, if GU breaks up above 1.8350 which is last Friday's highest point, GU will go up
  • #13
  • Last Post: Sep 8, 2008 6:56pm Sep 8, 2008 6:56pm
It's interesting to watch those Big Dogs were fighting due to their conflict of interest!

Some of them believed the GU had dropped too deep and needed some better ground(thus, up) while some were INSISTED that GU would keep moing along the trend (down).

OK, judging from the movement & result yesterday, here's what will happen this week.

GU will definitely GO DOWN! The target will be @ 1.7140. But, don't get too excited first! It will NOT move as easily and smoothly as yesterday. when it touches certain low, it will go up about 100 - 150 pips before reverses and breaks another low.

My suggestion is : SELL LIMIT @ X+100 pips. Which is X is the lowest for the week.

For example : so far, GU reached its bottom at 1.753x, meaning we will put a SELL LIMIT @ 1.7630s area. And it did work just now.

PRECAUTION : keep watching on GU's movement. You need to make extra works this week. Every time GU breaks noew low, your LIMIT level will change too!
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