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Trade what you see NOT what you expect

  • #2,781
  • Mar 18, 2009 7:35am Mar 18, 2009 7:35am
I've taken 25 off my position, rest is covered at +3 now.
Just digging in the trenches like everyone else!
  • #2,782
  • Mar 18, 2009 7:38am Mar 18, 2009 7:38am
Quoting eohater
I'm working my way through the thread and many have responded to the question I posted yesterday about the thread and is it helping you or not. I appreciate your responses, but I would still like to hear from others that are here. We have a nice size crowd everyday and like I've said before, if your here in my thread, then I want you to be making green pippage. Even if you've never posted before, please share your thoughts.
Hi EO and others

enjoying thread but usually not awake this time of day (night) to make positive pipage with you.
  • #2,783
  • Mar 18, 2009 7:41am Mar 18, 2009 7:41am
Quoting eohater
I've taken 25 off my position, rest is covered at +3 now.
Good job bro! I took some profit at the m15 10ema and covered the rest...
Patience + Discipline - Greed = Success
  • #2,784
  • Mar 18, 2009 7:42am Mar 18, 2009 7:42am
Quoting eohater
I'm working my way through the thread and many have responded to the question I posted yesterday about the thread and is it helping you or not. I appreciate your responses, but I would still like to hear from others that are here. We have a nice size crowd everyday and like I've said before, if your here in my thread, then I want you to be making green pippage. Even if you've never posted before, please share your thoughts.
Really like this thread, not as much BS here just good useful info. Thanks for all your help!!
Please ask questions and share your experiences with us all!
  • #2,785
  • Mar 18, 2009 7:45am Mar 18, 2009 7:45am
Turtle and Cisco,

Same view that I have. The FED cannot fire up the printing presses without foreign investors to keep inflation down. If we start to buy our own debt, then the dollar is going to get flushed in value. All this money printing will catch up to them, it has to eventually.
Just digging in the trenches like everyone else!
  • #2,786
  • Mar 18, 2009 7:45am Mar 18, 2009 7:45am
Quoting eohater
I'm working my way through the thread and many have responded to the question I posted yesterday about the thread and is it helping you or not. I appreciate your responses, but I would still like to hear from others that are here. We have a nice size crowd everyday and like I've said before, if your here in my thread, then I want you to be making green pippage. Even if you've never posted before, please share your thoughts.
Think I missed the question, any chance of a pointer to which question you'd like answering?
  • #2,787
  • Mar 18, 2009 7:46am Mar 18, 2009 7:46am
Guys, if your short, get your positions covered and don't be afraid to TP on some of your position as well.
Just digging in the trenches like everyone else!
  • #2,788
  • Mar 18, 2009 7:46am Mar 18, 2009 7:46am
Anybody else riding this E.U train?
Just Trade It
  • #2,789
  • Mar 18, 2009 7:46am Mar 18, 2009 7:46am
Quoting daffy
Think I missed the question, any chance of a pointer to which question you'd like answering?
I know you enjoying the thread bro!
Just digging in the trenches like everyone else!
  • #2,790
  • Mar 18, 2009 7:46am Mar 18, 2009 7:46am
Quoting eohater
I'm working my way through the thread and many have responded to the question I posted yesterday about the thread and is it helping you or not. I appreciate your responses, but I would still like to hear from others that are here. We have a nice size crowd everyday and like I've said before, if your here in my thread, then I want you to be making green pippage. Even if you've never posted before, please share your thoughts.
Good afternoon all,

I have been silently reviewing the thread for a few weeks now.
Everyone's input has been of great help to me in my learning, and obviously the expertise of EO, Infinity etc.. as well as the great work by NYJetfan in the PDF file.
I am making slow steady progress in demo, but as people have said earlier, Demo and Live are two completely different things, and the confidence to pull the trigger on what you see is the hardest thing to master, but with time I am slowly getting there. The amount of times I have thought about pulling the trigger but hesitated then watched the market go with me.... but we have all been there, Trading in hindsight is so easy!!!

Thanks for everything & keep up the great work

Wayne - UK
  • #2,791
  • Mar 18, 2009 7:47am Mar 18, 2009 7:47am
Quoting cisco
If we start buying our own debt that means they're firing up up the printing presses. That'll lead to inflation.
Well there's one thing that although we're doing everything we can to devalue the dollar and turn on the inflation, forex is a zero sum game. By that I mean you can't have the GBP/USD both rising and falling on the same day, either it moves up or down (it is currencies relative to each other). With the news of the UK talking about a "great depression" and other economies being as bad or worse than ours, this whole inflation/dollar in the tank could be delayed. I've heard many theories on FIFO (first in first out) pointing to US leading us into the abyss (as we did) and also leading out the other side. The big problem is that when it does come out the other side, I think the dollar plummet will come with a vengeance as the "geniuses" that are running the show won't turn off the spigot until they see the dollar already crumbling and by then it will be too late. I remember reading something recently where they anticipated that the dollar would crumble and eventually be replaced with another currency - anyone want to trade the Pound/Americano cross?
  • #2,792
  • Mar 18, 2009 7:48am Mar 18, 2009 7:48am
lets go long on the close of the last full 15m candle and bounce of the 10
Please ask questions and share your experiences with us all!
  • #2,793
  • Mar 18, 2009 7:49am Mar 18, 2009 7:49am
On this pullback where would you consider shorting again ???
Good Trading To All ; Ken Lee
  • #2,794
  • Mar 18, 2009 7:49am Mar 18, 2009 7:49am
Quoting eohater
Turtle and Cisco,

Same view that I have. The FED cannot fire up the printing presses without foreign investors to keep inflation down. If we start to buy our own debt, then the dollar is going to get flushed in value. All this money printing will catch up to them, it has to eventually.
I read an article months ago before the election that said Obama intended to devalue the dollar. It's just a way for the gov't to pay the debt with cheaper dollars. Bad for everybody as far as I'm concerned. China will go ballistic!
Hi, my name is Barry and you can keep your doctor...
  • #2,795
  • Mar 18, 2009 7:50am Mar 18, 2009 7:50am
Quoting bkg102665
lets go long on the close of the last full 15m candle and bounce of the 10
Almost did, but didn't like how the 1HR was looking, so I'm flat and just....

HOLLA
  • #2,796
  • Mar 18, 2009 7:51am Mar 18, 2009 7:51am
Quoting nyjetfan
Well there's one thing that although we're doing everything we can to devalue the dollar and turn on the inflation, forex is a zero sum game....
There's already talk of a one world currency. Scary thought.
Hi, my name is Barry and you can keep your doctor...
  • #2,797
  • Mar 18, 2009 7:51am Mar 18, 2009 7:51am
Quoting swede5150
Good afternoon all,

I have been silently reviewing the thread for a few weeks now.
Everyone's input has been of great help to me in my learning, and obviously the expertise of EO, Infinity etc.. as well as the great work by NYJetfan in the PDF file.
I am making slow steady progress in demo, but as people have said earlier, Demo and Live are two completely different things, and the confidence to pull the trigger on what you see is the hardest thing to master, but with time I am slowly getting there. The amount of times I have thought about...
Wayne - Does your broker off "micro lots"? By that I mean trading in denominations of 1000 (ie $0.10 per pip)? If so, I think that's a great way to start dipping your feet into the water, as the monetary values won't be that great but still has a little bit of a sting when you see the $10 no longer in your pocket.

That's how I started, and I think the problem with demo is that its monopoly money, so there is absolutely no concerns if you pull the trigger or not, so I never really got the mindset.

Also, I've found that I have my broker configured so that I can setup my display to show profit and loss in pips as opposed to USD, so that also is helpful as being down 25 pips doesn't alarm me as much as seeing a dollar value attached to it.

Hope this helps, and please feel free to drop me a PM if there's anything you feel needs to be elaborated on in the pdf.

Best of luck!
  • #2,798
  • Mar 18, 2009 7:52am Mar 18, 2009 7:52am
Quoting cisco
I read an article months ago before the election that said Obama intended to devalue the dollar. It's just a way for the gov't to pay the debt with cheaper dollars. Bad for everybody as far as I'm concerned. China will go ballistic!
Well....there are crazy stories out there about the AMERO.. (check it out on youtube) and that China already holds 800 billion (sent from US) of this new currency to cover 400 billion of our debt...true? not true?...time will tell...
  • #2,799
  • Mar 18, 2009 7:54am Mar 18, 2009 7:54am
Quoting bkg102665
lets go long on the close of the last full 15m candle and bounce of the 10
That close is why I said for everyone short to cover their position and not be afraid to TP on some of it. I'm not sold on the long train just yet. Still short, we get through this 396x area, then we're going down even further. Look at how your h1 is shaping up. Now, we can't trade off of it til it's closed, but, should we close like this, either enter partial short upon opening of new h1 or let price move up the wick to short with SL on the other side of the wick.
Just digging in the trenches like everyone else!
  • #2,800
  • Mar 18, 2009 7:54am Mar 18, 2009 7:54am
Quoting cisco
I read an article months ago before the election that said Obama intended to devalue the dollar. It's just a way for the gov't to pay the debt with cheaper dollars. Bad for everybody as far as I'm concerned. China will go ballistic!
Hi, everybody.
First, the thread is very useful source for me.
Second, "pay debts with cheaper currency" already happened in Germany in 1920s after World War 1. They devaluated mark, and then their debts disappear. Smart move for government, bad for people, very bad for creditors.
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