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  • #46,461
  • Nov 20, 2008 2:32pm Nov 20, 2008 2:32pm
Quoting TradeWell
cannabis infused vodka!

LOL! Gimmee, gimmee, gimmee... Like Nero, we'll drink, smoke and fiddle while the world's economies collapse around us. And wash it all down with some of ak4x's choco chip pecan cookies. Mmmmmm.... http://www.forexfactory.com/images/icons/icon10.gif
  • #46,462
  • Nov 20, 2008 2:39pm Nov 20, 2008 2:39pm
Low for the Dow in 1980 was 729.95 and in 1982 it was 769.98 so not sure where 777 comes from?

Edit: Moot point since markets are blowing right through it anyway.
  • #46,463
  • Nov 20, 2008 2:46pm Nov 20, 2008 2:46pm
Quoting SunTrader
Low for the Dow in 1980 was 729.95 and in 1982 it was 769.98 so not sure where 777 comes from?
ooooooo burned me bad....I guess I never zooooomed in enough...sounded good anyway However, I don't see that 1982 low. (talking about closing daily low)...but it don't matta
  • #46,464
  • Nov 20, 2008 2:46pm Nov 20, 2008 2:46pm
Will it hold?
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  • #46,465
  • Nov 20, 2008 3:15pm Nov 20, 2008 3:15pm
applause to whomever made money off the following charts. i have never seen so much indecision on eur/usd on the 5min chart since i started trading...not to mention the spikes on the 1h and 4h charts lately. seriously applause to you if you saw through the indecision

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Different opinions highly valued, ignorant to slander.
  • #46,466
  • Nov 20, 2008 3:19pm Nov 20, 2008 3:19pm
Quoting psiholog
applause to whomever made money off the following charts. i have never seen so much indecision on eur/usd on the 5min chart since i started trading...not to mention the spikes on the 1h and 4h charts lately. seriously applause to you if you saw through the indecision

Attachment
Thank you, Thank you....42 pips, thanks indirectly to Turhovach

Edit: and cobra, of course...and acumen...what the hell, all you guys helped me get here!
  • #46,467
  • Nov 20, 2008 3:22pm Nov 20, 2008 3:22pm
only have a minute, glad i took my tp's off earlier. crikey!
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FUBAR...
  • #46,468
  • Nov 20, 2008 3:25pm Nov 20, 2008 3:25pm
Quoting Turhovach
Absinthe, eh? You ever drink that stuff? I mean the real stuff. Very interesting. Gave me the biggest headache I've ever had in my life. And I'm a Slavic type - LOL! That stuff runs in my veins, heheh...

By the by there are gonna be a lot of very depressed people tonight if Mr. DOW doesn't get his ass above 7882 by the close. That's a magic line in the sand for many Wall Street Phubahs...
The Thieves of Wall Street should all be corraled into prison....hedge funds and hedge fund departments first! These %#@* people have naked shorted stocks to the bottom, and so far not even covering, churning their naked shorts as they go....so new shorting they buy up themselves to "cover" deliveries due....and lowering the price as they go! They are all hoping the companies will go bankrupt as a result of this MASSIVE MULTI-HUNDRED BILLION DOLLOR RIP-OFF of the real shareholders! And if they are allowed to succeed (SEC is a joke!), they will get many companies shares to less than 1 cent....officially bankrupt.....AND NEVER HAVE TO COVER A SINGLE ONE OF THOSE OUTSTANDING NAKED SHORT SHARES they are using over and over to drive the prices down!

This is LEGALIZED THIEVERY......and the SEC is in league with them and they are all laughing at the real shareholders from whom they are stealing. And they are ruining the economy here and abroad.....and don't give a shit because they are making hundreds of billions of dollars in this massive rip-off.

And they are politically pushing for the government to NOT bail the companies out......THEY WANT THEM TO GO BANKRUPT SO THEY WILL NOT HAVE TO COVER!
  • #46,469
  • Nov 20, 2008 3:28pm Nov 20, 2008 3:28pm
Quoting ak4x
only have a minute, glad i took my tp's off earlier. crikey!
honestly ak...and i say with the greatest respect for you as you are a brilliant trader..sell peaks only...try to pick bottoms and you risk becoming a fool like me...im not so sure shorts have it in control. the stock market dropped to incredible levels...the dollar gave a whooping to all major currencies but against the euro...it barely made a new low compared to yesterday with pa range less then 150pips. one would expect more then this considering all the correlating data (oil below 50...big whoa on that one). anyways the point is are shorts really in control?...on this pair?...hard to say at this point...we make a new low...ill become a believer
Different opinions highly valued, ignorant to slander.
  • #46,470
  • Nov 20, 2008 3:37pm Nov 20, 2008 3:37pm
Quoting psiholog
honestly ak...and i say with the greatest respect for you as you are a brilliant trader..sell peaks only...try to pick bottoms and you risk becoming a fool like me...im not so sure shorts have it in control. the stock market dropped to incredible levels...the dollar gave a whooping to all major currencies but against the euro...it barely made a new low compared to yesterday with pa range less then 150pips. one would expect more then this considering all the correlating data (oil below 50...big whoa on that one). anyways the point is are shorts really...
You may be right. I was thinking about that too. Perhaps when the market has big recovery day, we will go the other direction. We still may see much volatility in both directions, in the coming weeks and months.
  • #46,471
  • Nov 20, 2008 3:42pm Nov 20, 2008 3:42pm
Quoting psiholog
honestly ak... anyways the point is are shorts really in control?...on this pair?...hard to say at this point
Sorry I should have clarified that it was on the GY/EJ yen pairs... (from an earlier post this am...) didn't trade eu today, when it turned on me and i barely got out with 5 pips, that was it...

killer yen day tho, just under 450 pips on fixed TP closed trades not including scale outs which were just over 300, but still running, so they don't count till closed (at least I don't count them)

Amost wish I'd been home, but sometimes micro-management is worse... (the old I'm my own worst problem syndrome)

gotta take off again for a bit. back for mid asia hopefully. ya'll be careful... asia might sucker punch us all, but they may not have any kung fu left either...
FUBAR...
  • #46,472
  • Nov 20, 2008 3:47pm Nov 20, 2008 3:47pm
Quoting psiholog
if the stock market does not rally in this last hour of trading....i will have officially lost faith in the american economy...this statement comes from one of the most optimistic guys aware of the current global situation...this has nothing to do with my long bias...it has to do with the fact there are no options out there left and the great depression will look like a joke compared to what we are facing....as would be proven with a close below 8000 for a second straight day....

Wait, calm, patience ..
Perhaps you have not lived other global financial crisis, but believe until now has always been so. There are still a few who speak of no confidence.
When everyone will have a negative approach, then it's right time.

It can take days, weeks or months, and when the press, television, media in general begin to give some to a catastrophic future. then there is the right time.
For those who have the right timing this could be the opportunity of life. Perhaps from this point of view is wrong to keep much of the day in front of the monitor.
We must remain lucid.

The best thing that can happen to you is to find out where you're wrong.
  • #46,473
  • Nov 20, 2008 4:09pm Nov 20, 2008 4:09pm
Quoting Driver55

Wait, calm, patience ..

Perhaps you have not lived other global financial crisis, but believe until now has always been so. There are still a few who speak of no confidence.
When everyone will have a negative approach, then it's right time.



[left]It can take days, weeks or months, and when the press, television, media in general begin to give some to a catastrophic future. then there is the right time.
[left]For those who have the right timing this could be the opportunity of life. Perhaps from this point...
your totally right...my inexperience speaks for itself as i am only 22 years old. but let me ask you this...for us as day traders or scalpers or however we identify ourselves who need that daily meal profit and rely heavily on technical analysis....how are we supposed to trade considering the only volatility we see is during ny stock market session...the rest of the time everything is on hold and even then....there is no clear direction with nothing but spikes on all time frames and all moves to the downside happen when they are least expected? maybe i should go to gbp/jpy...900pips and a smooth ride down...
Different opinions highly valued, ignorant to slander.
  • #46,474
  • Nov 20, 2008 4:10pm Nov 20, 2008 4:10pm
Quoting Driver55

Wait, calm, patience ..

Perhaps you have not lived other global financial crisis, but believe until now has always been so. There are still a few who speak of no confidence.
When everyone will have a negative approach, then it's right time.



[left]It can take days, weeks or months, and when the press, television, media in general begin to give some to a catastrophic future. then there is the right time.
[left]For those who have the right timing this could be the opportunity of life. Perhaps from this point...

May I pencil you in for number 21?

http://www.gold-eagle.com/editorials...our062001.html
  • #46,475
  • Nov 20, 2008 4:13pm Nov 20, 2008 4:13pm
Quoting psiholog
your totally right...my inexperience speaks for itself as i am only 22 years old. but let me ask you this...for us as day traders or scalpers or however we identify ourselves who need that daily meal profit and rely heavily on technical analysis....how are we supposed to trade considering the only volatility we see is during ny stock market session...the rest of the time everything is on hold and even then....there is no clear direction with nothing but spikes on all time frames and all moves to the downside happen when they are least expected?...

Ah, true, when the JPY crosses sell-off that do so very quickly and hardly retrace, but the risk of a short squeeze is much greater than on E/U. They can recover to the long side very quickly.
  • #46,476
  • Nov 20, 2008 4:21pm Nov 20, 2008 4:21pm
EUR/USD Target 1.2383 and Buy
AUD/USD Target 0.6001 and Buy
NZD/USD Target 0.5099 and Buy
USD/CAD Target 1.3047 and Sell
USD/CHF Buy near 1.2177
USD/JPY Sell near 94.97

GBP/JPY Buy near 140.31
EUR/JPY Buy near 118.47
EUR/CHF Buy near 1.5227
EUR/GBP Buy near 0.8415
{Promotion Removed}
  • #46,477
  • Nov 20, 2008 4:26pm Nov 20, 2008 4:26pm
Quoting psiholog
your totally right...my inexperience speaks for itself as i am only 22 years old. but let me ask you this...for us as day traders or scalpers or however we identify ourselves who need that daily meal profit and rely heavily on technical analysis....how are we supposed to trade considering the only volatility we see is during ny stock market session...the rest of the time everything is on hold and even then....there is no clear direction with nothing but spikes on all time frames and all moves to the downside happen when they are least expected?...

Daytrading is important but it is much more important to arrive at the right time with the right ammunition (money) and without much on the psychological wounds resulting from heavy losses that this kind of market may cause.
Of course you can change the market but you do not have a guarantee that it will be easier.
I prefer to hold my focus on a single financial instrument and wait for the right moment.
In these situations each of us should do an examination of conscience based on the following question:


The market EURUSD fell from 1.6036 to 1.2329. What percentage have I gained on this drop?


Answer: If the percentage is below 50%, its strategy is highly at risk.

The best thing that can happen to you is to find out where you're wrong.
  • #46,478
  • Nov 20, 2008 4:28pm Nov 20, 2008 4:28pm
Quoting Driver55

...For those who have the right timing this could be the opportunity of life....

You got it! Like Warren Buffett said, "Be fearful when others are greedy. Be greedy when others are fearful."
  • #46,479
  • Nov 20, 2008 4:33pm Nov 20, 2008 4:33pm
Quoting fxterrapin
May I pencil you in for number 21?

http://www.gold-eagle.com/editorials...our062001.html

As I say a few weeks ago, I wait for lower valus that from my point of view are in area
1.2270
1.1780
1.1300

Only after i will begin to believe in a concrete possibility of upside.

From this point of view may I be the 21,22,23

The best thing that can happen to you is to find out where you're wrong.
  • #46,480
  • Nov 20, 2008 4:34pm Nov 20, 2008 4:34pm
Quoting psiholog
maybe i should go to gbp/jpy...900pips and a smooth ride down...
Or may be E/Y, less spread.
A nice 300+ pip ride in only 3 hours
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