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  • #46,621
  • Nov 21, 2008 10:32am Nov 21, 2008 10:32am
Quoting TradeWell
Good morning all.

I wasn't making fun of you, I was making fun of the TV guy. I don't think successful traders make their money from what a TV guy says. I did make some pips from that move up, but not because of Peter Schiff. I am glad you were successful but tell me, how did you yield 500 pips? Other currency trades? Multiple scalp trades?

Yes, from multiple positions...I know what you're sayin, I just thought what he had to say was interesting.
  • #46,622
  • Nov 21, 2008 10:35am Nov 21, 2008 10:35am
Quoting pwzaw
what's next guys?? :>
i challenge you to do this. analyze the current price action psychology. do you see any similarities between what just happened and what happened in the spike up to 1.28 earlier this week? If you figure this one out...youll know what will most likely happen next
Different opinions highly valued, ignorant to slander.
  • #46,623
  • Nov 21, 2008 10:38am Nov 21, 2008 10:38am
Quoting psiholog
i challenge you to do this. analyze the current price action psychology. do you see any similarities between what just happened and what happened in the spike up to 1.28 earlier this week? If you figure this one out...youll know what will most likely happen next
So you're saying its gonna go up?
  • #46,624
  • Nov 21, 2008 10:42am Nov 21, 2008 10:42am
wow... somebody ask my question.... I hope that I understood it correctly thx
  • #46,625
  • Nov 21, 2008 10:43am Nov 21, 2008 10:43am
Quoting Trade-Hedge
It is here necessary to know Russian!
Why???
  • #46,626
  • Nov 21, 2008 10:44am Nov 21, 2008 10:44am
Quoting andys0506
So you're saying its gonna go up?
spike up to 1.2800 was followed by a sharp retracement to where the spike began followed by a period of consolidation. i think thats what will happen here..consolidation before further movement as we retouched pre spike down levels
Different opinions highly valued, ignorant to slander.
  • #46,627
  • Nov 21, 2008 10:48am Nov 21, 2008 10:48am

Guy's
I have my theory and today we had further evidence.
They want to make us insecure and full of fear in order not to participate to the real trend that will come sooner or later.

The best thing that can happen to you is to find out where you're wrong.
  • #46,628
  • Nov 21, 2008 10:48am Nov 21, 2008 10:48am
From what I see this is just a gamble at the moment in the ever decreasing triangle range (currently between 420 and 640). Perhaps its safer to stay out until we see a confirmed break either way.
  • #46,629
  • Nov 21, 2008 10:49am Nov 21, 2008 10:49am
Quoting andys0506
From what I see this is just a gamble at the moment in the ever decreasing triangle range (currently between 420 and 640). Perhaps its safer to stay out until we see a confirmed break either way.
...couldnt have said it better myself
Different opinions highly valued, ignorant to slander.
  • #46,630
  • Nov 21, 2008 10:53am Nov 21, 2008 10:53am
Quoting psiholog
most impressive. just another reminder of how market makers want to ruin all we know about technical analysis and that today is friday with these sporadic moves that are highly illogical. i am choosing to ignore this massive spike down
I have a lot of repect for some of the analyses you've offered up on this board. But some of things you say, and the quote above, is an example, just don't make any sense. EVERYTHING the market does is logical. It may not be logical to you, but to Mr. Market it is very logical. And for you to ignore things you either don't understand, or choose to ignore for whatever reason will only get you in trouble. Second guessing the market is a very dangerous pastime.

One of the most important things I've learned in my many years at this game is to ALWAYS respect the market and what it does, no matter how "illogical" it may seem to me. There is a purpose for everything that happens, and the sooner you accept that, the sooner you'll be successful at this game.

Have a great weekend...
  • #46,631
  • Nov 21, 2008 11:03am Nov 21, 2008 11:03am
Quoting Turhovach
I have a lot of repect for some of the analyses you've offered up on this board. But some of things you say, and the quote above, is an example, just don't make any sense. EVERYTHING the market does is logical. It may not be logical to you, but to Mr. Market it is very logical. And for you to ignore things you either don't understand, or choose to ignore for whatever reason will only get you in trouble. Second guessing the market is a very dangerous pastime.

One of the most important things I've learned in my many years at this game is to ALWAYS...
please dont criticize what i say. it is purely my opinion and my opinions have served me well in my trading. whether i am wrong or not will be proven. and as far as success goes...im up 260% this month with proper money management..not overleveraging..in other words i have gained over 2500pips. whether you choose to ignore what i say or not is entirely up to you but that is all im doing...stating my opinion...just like everyone else. if there was logic in this market...the vix would not be at all time highs...oil would not be where it is now...the financial system wouldnt be almost bankrupt (citibank thinking of merger...talk about insane considering who citibank is)...spikes on most candlesticks like we almost never see....certain technical aspects of the game that do not get respected...this market is run on fear and irrationality. again..this is just my opinion...it serves me well and this thread is about people sharing their opinions..not a signal service or good calls...just other people's perspectives.

on another note...have a great weekend
Different opinions highly valued, ignorant to slander.
  • #46,632
  • Nov 21, 2008 11:06am Nov 21, 2008 11:06am
Quoting Algirdas
New Update:

EUR/USD Sell near 1.2617
GBP/USD Sell near 1.4923
AUD/USD Sell near 0.6337
NZD/USD Sell near 0.5377

USD/CAD Buy near 1.2733
USD/CHF Buy near 1.2203
USD/JPY Sell near 95.77

GBP/JPY Sell near 142.97
EUR/JPY Sell near 119.97
EUR/CHF Buy near 1.5227
EUR/GBP Buy near 0.8407.
Now protect your profit.
{Promotion Removed}
  • #46,633
  • Nov 21, 2008 11:15am Nov 21, 2008 11:15am
low of thursday was around 1.2430... then wait friday europe to see what they do... seems they got profits buying... that leaves US traders without the possibility to get same profits as europeans... so let's move it again to 1.2430 and get the profits again.
damn fridays...
  • #46,634
  • Nov 21, 2008 11:25am Nov 21, 2008 11:25am
Quoting Turhovach
I have a lot of repect for some of the analyses you've offered up on this board. But some of things you say, and the quote above, is an example, just don't make any sense. EVERYTHING the market does is logical. It may not be logical to you, but to Mr. Market it is very logical. And for you to ignore things you either don't understand, or choose to ignore for whatever reason will only get you in trouble. Second guessing the market is a very dangerous pastime.

One of the most important things I've learned in my many years at this game is to ALWAYS...
I sure agree with you. Except maybe for the word "illogical". IMHO, regardless of all else, there is ALWAYS an underlying fundamental that makes EVERY move logical. That fundamental is....the Big Money Boys (Central bank trading ops and large hedge funds ops) every week, every month NEED to make money. After all, they all have their several multi-million dollar estates, yachts, stable of luxury automobiles, and kept women to support! So, they will slam it up and down for no other reason than they can, and they can trap unsuspecting traders, raid stops, and make money....in the end, it is ALL about making money. And to do that, THEY need to keep the price moving.
  • #46,635
  • Nov 21, 2008 11:32am Nov 21, 2008 11:32am
Quoting psiholog
if there was logic in this market...the vix would not be at all time highs...oil would not be where it is now...the financial system wouldnt be almost bankrupt (citibank thinking of merger...talk about insane considering who citibank is)...spikes on most candlesticks like we almost never see....
Sorry, but I can't disagree with you more. Of course its logical. But that's the beauty of opinions...
  • #46,636
  • Nov 21, 2008 11:39am Nov 21, 2008 11:39am
Fridays are so dangerous to trade in my oppinion. Better to stay off the markets unless you a position/long term player and your position already in profit. It seems like the big dogs just love hitting those 30-50 pip stops off the market just to bring the price back to the same level it was.
  • #46,637
  • Nov 21, 2008 11:41am Nov 21, 2008 11:41am
Future the world
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  • #46,638
  • Nov 21, 2008 11:46am Nov 21, 2008 11:46am
there is a quote by aristotle that i absolutely love

"to avoid criticism say nothing, do nothing, and be nothing"

it would be very easy for me to do that. but in doing so....my voice is silenced and my opinions which from feedback i have received have helped others understand the markets better. I still remember when i first joined this thread...channels were virtually non existent from other posters. now...it seems to me many have adapted this into their strategy...with the exception of "old timers" who have mastered their strategy over the years in their own way. Then there is the psychology aspect behind price action which is still taboo that I dont see mentioned too often (traderathome has mastered this art as well) that i share freely as it is my "edge". So....im sure there will be many people who disagree with what i say over time. Does that mean I should be like aristotle says and say nothing or keep posting my opinions as crazy as they may sometimes sound which may help at least one person out there? Quite the dilema here as this is pro bono work which I enjoy doing but when sharply criticized...not so fun anymore..hmm
Different opinions highly valued, ignorant to slander.
  • #46,639
  • Nov 21, 2008 11:48am Nov 21, 2008 11:48am

Ok guys, the film is finished for today.
Great weekend to all

The best thing that can happen to you is to find out where you're wrong.
  • #46,640
  • Nov 21, 2008 11:50am Nov 21, 2008 11:50am
Those are some busy charts.
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