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  • #46,521
  • Nov 20, 2008 6:32pm Nov 20, 2008 6:32pm
Quoting psiholog
i just bought gbp/jpy...
then you are a braver man than i...
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FUBAR...
  • #46,522
  • Nov 20, 2008 6:32pm Nov 20, 2008 6:32pm
Quoting TheProdigy
Peter Schiff just said on CNBC said that the US dollar's days of gaining strength are about over. Get those longs ready......the Euro is going to explode

Peter Schiff once said on a FOX NEWS interview that it was impossible for the USD to ever strengthen again. You are really going ot listen to him now?
  • #46,523
  • Nov 20, 2008 6:36pm Nov 20, 2008 6:36pm
Quoting ak4x
then you are a braver man than i...

theres the headstone i was missing as my grave is already dug from yesterdays bad trading

not to mention my names initials are R P ...hahaha. "in"
Different opinions highly valued, ignorant to slander.
  • #46,524
  • Nov 20, 2008 7:06pm Nov 20, 2008 7:06pm
Quoting ak4x
then you are a braver man than i...
that was very funny....



but thinking..... why people say only 5% of traders are successful ? Because only 5% of crazy ones go long GJ now... lol
  • #46,525
  • Nov 20, 2008 7:21pm Nov 20, 2008 7:21pm
Quoting emda
that was very funny....



but thinking..... why people say only 5% of traders are successful ? Because only 5% of crazy ones go long GJ now... lol
donno about that one...still...i am still heavily invested in eur/usd long...all my profits for this week are reduced to 30 or 40pips gain or so for the moment (still hanging onto losers)...if i am wrong...it could turn into a very bloody week..still...i got mad bull disease or something...well see

to give an idea of what a bad spot im in...my average for the last 2 weeks was 200pips gain daily...this week...if all my positions were closed i would match that average...but the open positions bring me down to almost no gain for the week...so yeah....
Different opinions highly valued, ignorant to slander.
  • #46,526
  • Nov 20, 2008 7:21pm Nov 20, 2008 7:21pm
Quoting psiholog
ibfx doesnt seem accurate on 4h candlesticks..probably daily too...thank you for letting me see this important difference
FxPro start-of-the-day coincides with "official" forex end-of-day at USA close.
  • #46,527
  • Nov 20, 2008 7:29pm Nov 20, 2008 7:29pm
Quoting psiholog
donno about that one...still...i am still heavily invested in eur/usd long...all my profits for this week are reduced to 30 or 40pips gain or so for the moment (still hanging onto losers)...if i am wrong...it could turn into a very bloody week..still...i got mad bull disease or something...well see

to give an idea of what a bad spot im in...my average for the last 2 weeks was 200pips gain daily...this week...if all my positions were closed i would match that average...but the open positions bring me down to almost no gain for the week...so yeah....
I would also like to go long euro now... oil is very oversold now... but dow is scary... and lately euro is super correlated to both...
I may start buying euros at 1.2288
  • #46,528
  • Nov 20, 2008 7:48pm Nov 20, 2008 7:48pm
Quoting emda
I would also like to go long euro now... oil is very oversold now... but dow is scary... and lately euro is super correlated to both...
I may start buying euros at 1.2288
why 1.2288?..the mega triangle lower wall was just tapped and no break of it..this 4h candle as seen on FXpro could turn into a doji too...of course this doesnt mean we wont go lower but still...please tell me your logic

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ignore that buy btw...this is fxpro demo acc and has no relevance...i want to blow all equity on one trade for pure joy haha
Different opinions highly valued, ignorant to slander.
  • #46,529
  • Nov 20, 2008 7:49pm Nov 20, 2008 7:49pm
Quoting emda
I would also like to go long euro now... oil is very oversold now... but dow is scary... and lately euro is super correlated to both...
I may start buying euros at 1.2288

Yes I wonder when the stock market and oil hit bottom if the euro will also bottom.
  • #46,530
  • Nov 20, 2008 8:43pm Nov 20, 2008 8:43pm
Quoting emda
I would also like to go long euro now... oil is very oversold now... but dow is scary... and lately euro is super correlated to both...
I may start buying euros at 1.2288
I think what is interesting is that we just undercut the 1973-74 45% correction and are now at 47% on the Dow. The 1929-32 bear was 89%.

For fun I looked at the monthly going back to the 20's and threw a RSI onto it. We have now dropped below the lowest RSI of the 30's.

The markets in the 70's tried from 1965 to nearly 1985 to break Dow 1000 and formed a complex reverse head and shoulders over nearly two decades before it broke in 1982.

What's my point? All of these pundits and talking heads that tell us that the worse is over and the bull market is just around the corner hasn't looked at their history books close enough. For all we know we could be just half way through a double decades long sideways trending market. And while the EU and other countries have admitted that they are in recession, the US is in denial and won't admit it.

As Jay likes to say often, "hold onto your f*@!king hat". That equities ride may not be over yet. I'll stick with FX trading thank you very much.
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  • #46,531
  • Edited 9:24pm Nov 20, 2008 9:03pm | Edited 9:24pm
interesting ej chart i just saw flippin thru TF's... i had this fib on the 1hr the other day scalping the retrace of the drop. the lower anchor was the low at the time.

I just happened to have all the negative retrace extensions on this one already and saw price is currently almost to the pip on the -79% level. this chart is a 4HR however for space sake.

((what's crazy is the -114 retrace.. something i was playing with and didn't realize it was still loaded up on the fib tool.))

little blue circles give you the fib points and levels... i'd guess a break here could lead to an interesting evening. hope this perspective helps someone stay out of trouble... (the line starts behind me..)

there's a rumour out that boj is doing a quiet intervention... every time the yen strengthens, some one buys the base up.. UJ is the mover here this evening it looks like.

if this keeps up, i'm knockin off early and staying out of it. me and boj have a bad history and i have lots of unresolved issues as my daughter says.... lots of angst.
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FUBAR...
  • #46,532
  • Nov 20, 2008 9:14pm Nov 20, 2008 9:14pm
Quoting ak4x
like warren is probably saying today... "wished I'd waited..."

Ha Ha. Took the words right out of my mouth. Old Warren is losing some of his luster.
  • #46,533
  • Nov 20, 2008 9:18pm Nov 20, 2008 9:18pm
Quoting Trade-Hedge
Let sell people waitit is necessary a long ago
Oh hell, ak4x, the aliens are back http://www.forexfactory.com/images/icons/icon10.gif
  • #46,534
  • Nov 20, 2008 9:22pm Nov 20, 2008 9:22pm
Quoting ak4x
i got cookies
I got some of Tradewell's marijuana laced absinthe vodka.
  • #46,535
  • Nov 20, 2008 9:28pm Nov 20, 2008 9:28pm
I find it interesting that there is {or, at least, appears to be} a disturbed hornets nest searching for entry points looking for 10, 15 & hopefully >20pips when in actuality, 100's of pips are available.

Young Bear to Old Bear standing on a hilltop.
"There's a bunch of Sows down by the River. Let's run down & have one."

Old Bear
"Let's Walk down & have them All"
  • #46,536
  • Nov 20, 2008 9:29pm Nov 20, 2008 9:29pm
Quoting Turhovach
Oh hell, ak4x, the aliens are back http://www.forexfactory.com/images/icons/icon10.gif
got the right smiley anyway... that's what i was doin earlier when i read that.

hey turvo, here's another chart for you, but swallow first bro...
http://www.forexfactory.com/showpost...stcount=140087
FUBAR...
  • #46,537
  • Nov 20, 2008 9:33pm Nov 20, 2008 9:33pm
Quoting PipPilot
And while the EU and other countries have admitted that they are in recession, the US is in denial and won't admit it.
Uh, with all due respect, its actually the other way aroud. The US was the first to announce that it was in a recession. Trichet took forever to figure out that his supposed de-coupled EC was in the same boat. And, unfortunately, Trichet and company are still so behind the 8-ball that when true reality sets in, it will be very sad. EC is gonna be blindsided due to their inaction.

By the way (and this doesn't have anything to do with your post), but Peter Schiff is about as absurd as they come. Sounds like a buy signal to me...
  • #46,538
  • Nov 20, 2008 9:38pm Nov 20, 2008 9:38pm
[quote=ak4x;2366439]hey turvo, here's another chart for you, but swallow first bro...
http://www.forexfactory.com/showpost...087[/quote]

Oh my gosh! Please tell me that's a joke. That guy's got more indicators on there than I have fingers and toes. On both hands and feet!!! Jeez Louise.
  • #46,539
  • Nov 20, 2008 9:52pm Nov 20, 2008 9:52pm
Quoting PipPilot
I think what is interesting is that we just undercut the 1973-74 45% correction and are now at 47% on the Dow....
We are already in that sideways market, and have been since March of 2000. The only higher high made since then was 2% higher and we have now beaten the lows. Since these secular bear markets last 16-20 years, we are about 1/2 way through. More importantly, these markets present great buying opportunities. The 1974 correction was followed by a subsequent advance of 52% over 7 months. Large gains like these are typical after cyclical bear declines. So just as with forex charts, and watching the wave within the wave, there will be bull waves within this sideways market. So you are right PipPilot, about half way through, the bottom is unknown, but will be there, ready to be traded.
  • #46,540
  • Edited 11:10pm Nov 20, 2008 10:24pm | Edited 11:10pm
reading between the lines... i think they may actually be going from verbalvention to yentervention this time...

21 (Reuters) - Japanese Finance Minister Shoichi Nakagawa said on Friday that the authorities must be ready to deal with big swings in markets as they are undesirable.

'We must act firmly on extreme moves in the markets,' Nakagawa told a meeting of foreign journalists.

Japan's Nikkei average fell 2.2 percent on Friday, striking a three-week low as a stronger yen, an overnight plunge in U.S. stocks and global recession fears hit exporters...
http://www.forexfactory.com/news.php?do=news&id=129447
FUBAR...
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