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  • #112,461
  • Jun 19, 2009 3:08am Jun 19, 2009 3:08am
Quoting notch
I'm out for 13 pips. I just waitng for my model to finish updating and it's taking a while so I have no full perspective for the next hour until model competes.

Okay. Mod finished. It seems that this could be the low for the next hour.
It was a scratch trade for me. Should have settled for small pips, but it's only a 1 pip loss. It's attacking the pivot again.
  • #112,462
  • Jun 19, 2009 3:09am Jun 19, 2009 3:09am
Quoting TrooperCoope
Good morning ya all!

Atlast, I have seen u using the pitchfork techniques with great success. Do you have any tutorial links about that topic that you would recommend? I might be intrested to give that tool a try.

Short at 1.3915.
current 1.3925
  • #112,463
  • Jun 19, 2009 3:10am Jun 19, 2009 3:10am
Quoting dvdsurplus
Forex forums must be the angriest portals on the web lol... gotta remember that it's a deathmatch - ALL VS ALL

Each to their own (unless yo9u're in a "Club")
I'm not angry - Notch knows I'm only pulling his leg like he's pulled mine. Oh, sorry, I forgot to add a smiley at the end of my sentence.

As to the statement from the EU leaders, taking it down to a basic level, I know that I'd much rather be told that I look beautiful every day rather than a downright, ugly looking, losing dog that is going to get uglier by the day. Confidence boosting, in my book, is a good thing.
Nothing worth having is easy.
  • #112,464
  • Jun 19, 2009 3:10am Jun 19, 2009 3:10am
Quoting notch
I'm glad somebody knows what time is it. Let's not forget that Merkel stated quite openly that she wouldn't be supporting further stimulus spending. I think she said that 2-3 months ago. Folks really need to invest in a basic economic book to at least develop the ability to interpret the spectrum of news releases.

We are in the s**t and EU leaders are allowed to release credible statements to boost confidence in times of economic turmoil.
Look, it's one thing that Merkel said it casually and another to be read off a document during a summit be it even a "draft". You for sure should recognize the difference in credibility of the two above cases. However what really is of concern is that "the draft was obtained by Bloomberg News". Which means it's not a public declaration yet and might just be a pump by Bloomberg as we are used to lately. Looking at equities even if it's a pump, it seems it works.

Notch no one can claim of holding the absolute truth, not even the greatest financial minds (they were all prove to be wrong in the end). Neither do I but I always appreciate a good factual and argumented polemic.
  • #112,465
  • Jun 19, 2009 3:10am Jun 19, 2009 3:10am
Quoting PipGal
Do you have a % of your success rate? I'm curious, you post a lot of a great calls.

Been following the forum for a while, he's usually correct. Burns me up! lol
  • #112,466
  • Jun 19, 2009 3:10am Jun 19, 2009 3:10am
Quoting PipGal
Do you have a % of your success rate? I'm curious, you post a lot of a great calls.
Between 70-80% using this method.
  • #112,467
  • Jun 19, 2009 3:11am Jun 19, 2009 3:11am
This pair has been in a 60 pip range for the last 16 hours... Anybody think US session will put some momentum in the market ?
  • #112,468
  • Jun 19, 2009 3:11am Jun 19, 2009 3:11am
Quoting TheFisherman
Look, it's one thing that Merkel said it casually and another to be read off a document during a summit be it even a "draft". You for sure should recognize the difference in credibility of the two above cases. However what really is of concern is that "the draft was obtained by Bloomberg News". Which means it's not a public declaration yet and might just be a pump by Bloomberg as we are used to lately. Looking at equities even if it's a pump, it seems it works.

Notch no one can claim of holding the absolute truth, not even the greatest financial...

Thank you for posting it. I enjoy a good debate.
  • #112,469
  • Jun 19, 2009 3:11am Jun 19, 2009 3:11am
Quoting notch
Between 70-80% using this method.
OKay, since it seems you have da crystal ball...are we looking at 3880 or 3990?

  • #112,470
  • Jun 19, 2009 3:12am Jun 19, 2009 3:12am
Quoting dvdsurplus
This pair has been in a 60 pip range for the last 16 hours... Anybody think US session will put some momentum in the market ?
No momentum for today i guess
  • #112,471
  • Jun 19, 2009 3:14am Jun 19, 2009 3:14am
Quoting PipGal
OKay, since it seems you have da crystal ball...are we looking at 3880 or 3990?

1.3842.
  • #112,472
  • Jun 19, 2009 3:15am Jun 19, 2009 3:15am
Quoting TrooperCoope
Good morning ya all!

Atlast, I have seen u using the pitchfork techniques with great success. Do you have any tutorial links about that topic that you would recommend? I might be intrested to give that tool a try.

Short at 1.3915.
Try http://medianline.com/
The author and renowned trader who trained floor traders in the CME and himself a floor trader of past, can be found posting from time to time of recent in a thread under andrews pitchfork in the interactive section here. Worth dropping in. You will find out all about advanced techniques, little of which I incorporate, although I incorporate other trading tools.
  • #112,473
  • Jun 19, 2009 3:16am Jun 19, 2009 3:16am
Quoting notch
1.3842.
Well that's a relief since I'm short.
  • #112,474
  • Jun 19, 2009 3:17am Jun 19, 2009 3:17am
Quoting notch
I agree with you. We just have to be aware of the possibilites. Oh no...generally it isn't the investors decision where they put their money. It is usually the banks/financial institutions...think pension funds etc.
Those that have pension funds. I don't.

I was generally surprised at the statement. Those that read a little here and there wouldn't have missed the articles about the EU banks being stressed.
Nothing worth having is easy.
  • #112,475
  • Jun 19, 2009 3:19am Jun 19, 2009 3:19am
price has hit another outer track line down at 1.3932 and backed off from the daily pivot. I am short AGAIN
  • #112,476
  • Jun 19, 2009 3:19am Jun 19, 2009 3:19am
WASHINGTON (Reuters) - Senior U.S. lawmakers launched an assault on Thursday on the centerpiece of the Obama administration's financial reform plan -- giving the Federal Reserve new powers to police broad risks in the economy.

In addition to handling monetary policy, under the Obama plan the Fed would regulate "systemic risk" and try to prevent future financial crises, working with an inter-agency council.

"The Federal Reserve system was not designed to carry out the systemic risk oversight mission the administration proposes to give it," Senator Richard Shelby, the top Republican on the U.S. Senate Banking Committee, said at a hearing.

Concluding that the Fed is better qualified than any other government agency to handle such a job "represents a grossly inflated view of the Fed's expertise," Shelby said, reflecting the rapid spread of 'Fed fatigue' on Capitol Hill.

A day after President Barack Obama unveiled his plan, Treasury Secretary Timothy Geithner was defending it in testimony before the banking committee in the first of more than a dozen hearings before Congress by mid-July.

Other points of contention emerged during the session, including a proposal for establishing a consumer financial product safety agency and the administration's decision not to pursue more streamlining of bank supervisors.

The likelihood of the Obama plan emerging intact from Congress is remote, said William Donaldson, former chairman of the U.S. Securities and Exchange Commission, in an interview.

He called the plan "pretty positive, not too radical ... Now it becomes a matter of everybody else throwing their oar in. Clearly there are some differing opinions ...

"I think there's a feeling that maybe too much is being thrown into the Federal Reserve," he said. "I find it hard to believe they'll get anything done before year-end."

Geithner urged Congress to act quickly on regulatory reform in response to the crisis, which has focused public and government attention worldwide on oversight of banks and markets.

"We may disagree about the details, and we will have to work through those issues. But ordinary Americans have suffered too much; trust in our financial system has been too shaken; our economy has been brought too close to the brink for us to let this moment pass," he said.

BIGGEST CHANGES SINCE 1930S

Obama is proposing the most far-reaching changes in U.S. financial regulation since the 1930s, mirroring a similar effort already under way in the European Union.

Much of the Obama plan, under development for six months, will require legislative action from Congress. The president wants to sign legislation into law before the end of the year, an ambitious schedule as other pressing issues, including healthcare reform, are competing for Congress' time.
------------------

And what Obama, Bernake and Geithner are doing is on of the most despicable and dirty currency manipulation.
  • #112,477
  • Jun 19, 2009 3:21am Jun 19, 2009 3:21am
Quoting Patience
Those that have pension funds. I don't.

I was generally surprised at the statement. Those that read a little here and there wouldn't have missed the articles about the EU banks being stressed.

All I know is that we are in the s***...soup kitchen type of s***.
  • #112,478
  • Jun 19, 2009 3:22am Jun 19, 2009 3:22am
Quoting dvdsurplus
This pair has been in a 60 pip range for the last 16 hours... Anybody think US session will put some momentum in the market ?
Let it keep within that range.
  • #112,479
  • Jun 19, 2009 3:22am Jun 19, 2009 3:22am
Quoting Patience
Those that have pension funds. I don't.

I was generally surprised at the statement. Those that read a little here and there wouldn't have missed the articles about the EU banks being stressed.

I think notch meant that pension funds have enough capital to move the market as opposed to retail crowd... No?

Indeed the statement looks very surprising.
  • #112,480
  • Jun 19, 2009 3:24am Jun 19, 2009 3:24am
Quoting Atlast
price has hit another outer track line down at 1.3932 and backed off from the daily pivot. I am short AGAIN

Me too - 3926
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