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  • #115,661
  • Jun 26, 2009 12:58pm Jun 26, 2009 12:58pm
does anybody know where can I see Bernanke, CNN, Bloomberg ?
  • #115,662
  • Jun 26, 2009 12:59pm Jun 26, 2009 12:59pm
I also shorted b/c that's what the charts told me and I lost 100 pips but I am happy cause I did what the charts were telling me and this was a good lesson that technicals don't work all the time. Most of these big bastards are stealing money from us by creating confusion and doubts. We have to learn to trade with their mentality. As you saw in today's low volume move it was their intentions to stop out people who had longed and higher prices and shorted and lower price this is how they operate. Dumb ass people like me sometimes get carried away with technicals and think we are good traders and nothing can beat us. Trick is to understand how they operate and how they think they have all the tools to monitor us but we are too stupid to understand that. Next week could be the same deal again b/c its a holiday shortened weak in US so suggest not to take positions. Then again do what upi think is right for you and your margin
  • #115,663
  • Jun 26, 2009 1:02pm Jun 26, 2009 1:02pm
Quoting cgldsmth
decent folk just been hit with the patronizing stick.
No way that was My intention, but folks will always Hear what they will... and sorry to hear that you did.

If it's ever my intention to sound "patronizing", there will be No Question about it, and I'll most certainly use my own words in the process.

Sometimes this forum stuff seems to generate a "need to be in a trade" even if it's not a good one... It's OK for any Trader to Stand Aside at any time, and especially newer Traders on Fridays, hence my qualifier of "recent arrivals" and I would have thought you would be among those that would agree. But no matter.

It's Friday, in spite of ending the Week with 3 losers, I've had a good week overall, I'm enjoying a trade-free and stress-free day and will end on that note instead anything truly 'patronizing'.

Note to the Room: Keep 'em if you got 'em, and Stay in the Game if you lost 'em...

Hope that came out alright.
FUBAR...
  • #115,664
  • Jun 26, 2009 1:02pm Jun 26, 2009 1:02pm
Quoting stevefx
Just before I said that shorts for 25 pips were good at 4100 then it spiked to 4110 but then did sell off to 4075. I don't think your in trouble with a long at 4100 but I wouldn't expect a profit out of it today. Sunday/Monday is the big rally IMO.

I'm expecting it to rally to right around .3910.

m
  • #115,665
  • Jun 26, 2009 1:05pm Jun 26, 2009 1:05pm
Quoting IMARICH1
Here is the deal....I appreciate your vote of confidence...but I have learned too many systems...and as we speak i am going to try and learn THV this weekend.....I was trained by a professional trader to trade using Guppy and he showed me how the traders use fibs...and how to project price using the MA on a 15 min chart...AHHHHH.....I know all this but I am NOT successful......I lose and lose and lose!!!

Notch and Atlast have a method that works for the most part and I have confidence in them which is why I like to know what they are doing as...
But Imarich1, its not about having confidence in them. Its about having confidence in you. You are the one enter the trade... They can tell you what the entry and exit but because you got no confidence now, you will most likely do a late entry or early exit.

In another word, take a break first until you are ready again. At least don't totally empty that account.
  • #115,666
  • Jun 26, 2009 1:06pm Jun 26, 2009 1:06pm
Quoting ak4x
No way that was My intention, but folks will always Hear what they will... and sorry to hear that you did.

If it's ever my intention to sound "patronizing", there will be No Question about it, and I'll most certainly use my own words in the process.

Sometimes this forum stuff seems to generate a "need to be in a trade" even if it's not a good one... It's OK for any Trader to Stand Aside at any time, and especially newer Traders on Fridays, hence my qualifier of "recent arrivals" and I would have thought you would...
Bingo...

Here's it comes... it's why the majority of you won't be around a year from now.

Most of you are gamblers... very few mechanical traders.

It's ok... it's still a lot of fun read.
  • #115,667
  • Jun 26, 2009 1:08pm Jun 26, 2009 1:08pm
Quoting vinesh2
I also shorted b/c that's what the charts told me and I lost 100 pips but I am happy cause I did what the charts were telling me and this was a good lesson that technicals don't work all the time. Most of these big bastards are stealing money from us by creating confusion and doubts. We have to learn to trade with their mentality. As you saw in today's low volume move it was their intentions to stop out people who had longed and higher prices and shorted and lower price this is how they operate. Dumb ass people like me sometimes get carried away...
Yeah I rather do the right thing and lost rather than do the wrong thing and win.
  • #115,668
  • Jun 26, 2009 1:17pm Jun 26, 2009 1:17pm
A nice weekend at all
The best thing that can happen to you is to find out where you're wrong.
  • #115,669
  • Jun 26, 2009 1:18pm Jun 26, 2009 1:18pm
even i lost few pips today...when ever i tried to go long market went short and vise versaany ways funny day for traders
  • #115,670
  • Jun 26, 2009 1:22pm Jun 26, 2009 1:22pm
Quoting vinesh2
I also shorted b/c that's what the charts told me and I lost 100 pips but I am happy cause I did what the charts were telling me and this was a good lesson that technicals don't work all the time. Most of these big bastards are stealing money from us by creating confusion and doubts. We have to learn to trade with their mentality. As you saw in today's low volume move it was their intentions to stop out people who had longed and higher prices and shorted and lower price this is how they operate. Dumb ass people like me sometimes get carried away...
check your mail
those who can, do. those who cant, talk about those who can
  • #115,671
  • Jun 26, 2009 1:24pm Jun 26, 2009 1:24pm
Quoting ak4x
No way that was My intention, but folks will always Hear what they will... and sorry to hear that you did.

If it's ever my intention to sound "patronizing", there will be No Question about it, and I'll most certainly use my own words in the process.

Sometimes this forum stuff seems to generate a "need to be in a trade" even if it's not a good one... It's OK for any Trader to Stand Aside at any time, and especially newer Traders on Fridays, hence my qualifier of "recent arrivals" and I would have thought you would be among...
fair enough.

pleasant weekend to all....I'm off to greet a pack of fembots.
TRADE FOR SWAP
  • #115,672
  • Jun 26, 2009 1:26pm Jun 26, 2009 1:26pm
Quoting vinesh2
. Most of these big bastards are stealing money from us by creating confusion and doubts. We have to learn to trade with their mentality. As you saw in today's low volume move it was their intentions to stop out people who had longed and higher prices and shorted and lower price this is how they operate. Dumb ass people like me sometimes get carried away with technicals and think we are good traders and nothing can beat us. Trick is to understand how they operate and how they think they have all the tools to monitor us but we are too stupid to understand...
There is no one doing these things to you except yourself. Nobody can move this market around at will just to piss you off. Every participant is subject to the market. You must take full responsibility. No need to beat yourself up and call yourself names, you did well and traded your rules - Its ok to lose so long as your risk is managed.
BTC Return This Year: na
  • #115,673
  • Jun 26, 2009 1:33pm Jun 26, 2009 1:33pm
MAC thanks for the words but the sudden volatility that we saw today and see it often is caused by the big instituions who have access to data about pool of stops and we dont have that. Ever heard of "firesale" they implement this during low volume days where all banks get together and communicate to each other about stops and other things.
  • #115,674
  • Jun 26, 2009 1:37pm Jun 26, 2009 1:37pm
Hey all:

I've never posted, but had some thoughts about the general trend.

Seems that many are calling for a decline in the EUR/USD, and I don't doubt that it's coming.

In the context of Elliot Wave Theory (which I enjoy, but don't take my abilities to read it too seriously) I came up with this thought.

If we still have a Wave 5 to come, we could see 1.45 or 1.46 in the future.

Even if it were a failed 5th, I think we could bounce off the 1.43 level again before heading downstairs.
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  • #115,675
  • Jun 26, 2009 1:42pm Jun 26, 2009 1:42pm
I personally dont belive in manipulation of this market...coz globally currency has much more impact then we can think about.may be institutions can have little impact but it cant last for long time.finally Fundamentals and technical levels are most important to drive this market.

unlike stocks.
  • #115,676
  • Jun 26, 2009 1:51pm Jun 26, 2009 1:51pm
Quoting Alihuzaifa
I personally dont belive in manipulation of this market...coz globally currency has much more impact then we can think about.may be institutions can have little impact but it cant last for long time.finally Fundamentals and technical levels are most important to drive this market.

unlike stocks.
I dont know Ali, I wouldnt be surprised, it seems exactly like something the banks would do.
  • #115,677
  • Jun 26, 2009 1:51pm Jun 26, 2009 1:51pm
Quoting Alihuzaifa
I personally dont belive in manipulation of this market...coz globally currency has much more impact then we can think about.may be institutions can have little impact but it cant last for long time.finally Fundamentals and technical levels are most important to drive this market.

unlike stocks.
We have had so many "just under 100 pips" to "just under 300 pips" moves in the last number of days, that I have stopped bothering to count them! This market not manipulated.....? Either the elite trading firms are manned with idiots that cannot make up their minds, or they plan these moves to make their daily/weekly profits. IMHO, this market is the not-so-private gamling casino of the central banks and large hedge funds, that care less whether or not the price reflects the true relative value of the currencies involved in the short term. And they use "news" (planted or otherwise) as the trigger for their pre-planned moves (which often is opposite from what the "news" would normally prompt). Not complaining, because they create the volatility needed for us to also make money.
  • #115,678
  • Jun 26, 2009 1:52pm Jun 26, 2009 1:52pm
Quoting vinesh2
MAC thanks for the words but the sudden volatility that we saw today and see it often is caused by the big instituions who have access to data about pool of stops and we dont have that. Ever heard of "firesale" they implement this during low volume days where all banks get together and communicate to each other about stops and other things.
whether it is true or not, the fact that a proportion of market participants "believes" it to be true makes it a self-fulfilling prophecy.
TRADE FOR SWAP
  • #115,679
  • Jun 26, 2009 1:55pm Jun 26, 2009 1:55pm
Quoting traderathome
We have had so many "just under 100 pips" to "just under 300 pips" moves in the last number of days, that I have stopped bothering to count them! This market not manipulated.....? Either the elite trading firms are manned with idiots that cannot make up their minds, or they plan these moves to make their daily/weekly profits. IMHO, this market is the not-so-private gamling casino of the central banks and large hedge funds, that care less whether or not the price reflects the true relative value of the currencies involved.
I agree with vinesh there can be a "firesale" kind of situation but only on low volume days like today.

when ever i tried to get in market i was kicked out with loss...rofl
  • #115,680
  • Edited 4:51pm Jun 26, 2009 2:10pm | Edited 4:51pm
Quoting cgldsmth
whether it is true or not, the fact that a proportion of market participants "believes" it to be true makes it a self-fulfilling prophecy.
How can you NOT believe it is true? FX is highly UNREGULATED. The US stock market is far more regulated and stop hunting is, and always has been, common place. Ever hear of the term "Dead Cat Bounce"? It is illogical to believe, regulated or not, stop hunting does not exist in FX.

Edit (4:14 PM EST): Regarding US stock market and SIRI (Sirius/XM Radio) - for June this stock has a daily average volume of less than 50 million shares (approx). Anyway, price has been in low 40 cent range couple of days now. In last minute of market, the stock went from 40 cent area to 28 cents and back up again......! 69+ MILLION SHARES IN ONE MINUTE !.....now, THAT, was one GIGANTIC Dead Cat Bounce!!!!!!!!! A lot of good people with stop losses on their shares just had them stolen away. That was quick and severe price manipulation for the single purpose of stealing shares from innocent shareholders with stop losses. It is the kind of common place thievery that exists on Wall Street and is permitted by the SEC. And THAT is a far more regulated market than FX.....!!!!!!!!

Edit (4:40 PM EST): SIRI still trading in afterhours.....on a Friday!......at 44 cents.....and with a daily volume now up to 377 MILLION shares!!!!!!! There obviously was no justification to torpedo the price down to 28 cents, other than to steal shares from innocent people that had stop losses on their holdings, some down as low as at 28 cents, apparantly. And now trading at 44 cents in afterhours on a Friday! Unbelievable! Something is up and the shorts are covering. And they needed real shares to buy to cover some of their counterfeit naked shorts in a hurry! So they quickly and severly manipulated the price down to steal what they could. The FX market is no different. Manipulation for profits is common place. It happens because of greed and because it is permitted. Where ever you find big money and greed, you will find manipulation.....legalized manipulation, that amounts to down right thievery for any moral person.

Edit (4:52 PM EST): SIRI, still trading in Friday afterhours at 44 cents, is now up over 410 MILLION SHARES for the day......!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

Edit (5:19 PM EST): SIRI, still trading in Friday afterhours at 44 cents, is now up over 430 MILLION SHARES for the day......364+ million in normal hours trading, and the rest in AfterHours trading. Who can rightly claim there is no manipulation? ......More shares traded in less than 1.5 hours of Afterhours trading than in an average full normal hours day? ....at 44 cents almost continuously, without change in price? And all this after stealing shares by running stops by driving down the price to 28 cents in one minute at the end of normal hours trading? Of COURSE there exists manipulation!
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