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Technical Analysis Fallacy

  • #9,061
  • Jul 26, 2009 8:38am Jul 26, 2009 8:38am
Quoting imjscn
ok, Sir, I'm sure I can dig out the yearbook in private
But I'm not going to post my picture as FF avatar.... I'm still single and reasonably handsome, girls might crash on me, who knows...
And here's an old man for some competition.
Attached Image
  • #9,062
  • Jul 26, 2009 8:40am Jul 26, 2009 8:40am
Quoting fti
and even we may develop a nice traders friendship. Who knows maybe play cupid for some of you who are single, but you know my opinion of traders couples.
Well ...who would have imagined TAF dating site....fti you definitely have too much time on your hands
  • #9,063
  • Jul 26, 2009 8:43am Jul 26, 2009 8:43am
Quoting joypips
Well ...who would have imagined TAF dating site....fti you definitely have too much time on your hands
At the moment, I surely have.
  • #9,064
  • Jul 26, 2009 8:57am Jul 26, 2009 8:57am
Cool avatar, Sir! Cowboy style, I can imagine a gun or two are hidden on both side of the trousers.
But, put off your jacket, show us some 6 packs, ok?
  • #9,065
  • Jul 26, 2009 9:01am Jul 26, 2009 9:01am
Quoting imjscn
Cool avatar, Sir! Cowboy style, I can imagine a gun or two are hidden on both side of the trousers.
But, put off your jacket, show us some 6 packs, ok?
sorry, la , but got one solid piece, if you please.:-)


regards
  • #9,066
  • Jul 26, 2009 9:11am Jul 26, 2009 9:11am
By the way, a little weekend reading-- if anybody still be interested int he CBs...

Rulers of last resort
 Jul 23rd 2009
From The Economist print edition

For good and bad reasons, central banks are being set up to fail
http://www.economist.com/images/20090725/3009LD3.jpg

MOST political constitutions try to disperse power. In financial regulation the fashion is to concentrate it. America’s Federal Reserve is accumulating huge control over the economy and banks. Similarly, Britain’s Conservative Party, likely to form the next government, wants the Bank of England to be in charge not just of interest rates, but also the two big tasks of regulation: guarding the overall system’s stability (“macro-prudential regulation”, as it is known) and the “micro” supervision of individual firms. Does that make sense?
It is not hard to see why the central banks are being given more clout. Regulatory credibility is scarce and the central bankers often have more of it than other financial policemen. In times of disaster the mess ends up with them: the boundary between, say, the Bank of England lending to HBOS and testing its solvency, supposedly the job of the Financial Services Authority (FSA), became academic when the system seemed hours from blowing up. Above all, central bankers now know that they ignore macro financial stability at their peril.
For years most central banks concentrated on using a single tool, interest rates, to achieve a single goal, price stability. They ignored or failed to spot huge asset bubbles and banks’ kamikaze behaviour. Now, it is clear central bankers should consider not just the economy but the state of the financial plumbing behind it. By using tools like bank-capital rules and credit controls, they can try to prevent excesses building up again.
If they are to be responsible for stability, the central banks must have the power to act. That means the authority to swoop on individual firms that pose a threat to the system or are failing. As Mervyn King, the governor of the Bank of England, puts it, it would be hopeless “if we can do no more than issue sermons”. So it makes sense for the central banks to be in charge of the macro-prudential bit. The harder question is the micro one: who should do day-to-day supervision of firms?
Being close to banks should allow regulators to get better information. But it also raises the risk that supervisors will be “captured” by bankers. This newspaper has argued that the Fed should cede responsibility for the micro management of American banks. In Britain, the situation is different. The existing supervisor, the FSA, has an impressive new boss in Adair Turner but in the past it has suffered something close to Stockholm syndrome, exempting Northern Rock from regular examination, and allowing Royal Bank of Scotland to buy ABN AMRO. And unlike America’s finance, British banking is now concentrated in four big firms, blurring the distinction between general rules and regulation of individual companies. On balance, the Tories are probably right to return day-to-day supervision to the Bank of England.

Reap the reward: the hate of those you guard
That regulatory argument, however, is dwarfed by three worries. First, where the financial policemen sit matters less than hiring competent ones. Second, no matter how good those people are, central banks are bound to fail eventually: the banking system is huge and complex, and now enjoys a taxpayer guarantee that both encourages risky behaviour and is hard to withdraw. Thus, third, central banks will be on the hook more explicitly than ever before. When times are good they will struggle to take the punchbowl away: a central bank that tried to stop subprime lending in 2003 would have faced a political firestorm. When times are bad, they will be blamed.
That plainly raises the spectre of political intervention. But central banks need not be helpless. One priority should be to counter the impression that they are acquiring their new empires by accident. Their mandates need to be refined to include clear responsibility for both price and financial stability. One group of decision-makers should be responsible for both. Sometimes they will conflict, but having separate committees, as the Tories propose, does not resolve this.
And central banks should lead efforts to reform banking, so that it poses less risk to taxpayers. They can prod banks with taxpayer guarantees to shrink their risks and to build up capital buffers to absorb losses. It will be difficult, but unless the industry is reformed, the future will consist of banks that are too important to fail and central banks that are destined to do so.
  • #9,067
  • Jul 26, 2009 9:21am Jul 26, 2009 9:21am
good to see everyone relaxing and unwinding.
  • #9,068
  • Jul 26, 2009 3:48pm Jul 26, 2009 3:48pm
Hi ALL,

Early bird catches early worm.
Early worm make good breakfast for early bird.

I like to see who amongst you had gone pro?
Probably dealing is too tough a life-style for you? huh
making $$ the hard way?
Then sure you can second guess your Technical charts and make a long term punt. Any fool can do that.

regards
  • #9,069
  • Jul 26, 2009 3:55pm Jul 26, 2009 3:55pm
Hi Zoran,

Nice to see, you're up and going?
trade well my friend.

Whats you doing in Serbia, you enlisted? Foreign Legion?



regards
  • #9,070
  • Jul 26, 2009 4:05pm Jul 26, 2009 4:05pm
All kings gapped up.

14223/26
16467/70
9484/89

I am dealing Euro 23 choice.

anybody, I am short 26
  • #9,071
  • Jul 26, 2009 4:09pm Jul 26, 2009 4:09pm
nice to have you back, fti.
  • #9,072
  • Jul 26, 2009 4:15pm Jul 26, 2009 4:15pm
Quoting dunningduke
nice to have you back, fti.
thanks ,dunningduke.

early bird, or early worm?

I anm Euro 21 choice price.

anyone?
  • #9,073
  • Jul 26, 2009 4:19pm Jul 26, 2009 4:19pm
still nothing , 20 choice

off

19/21

off 23 choice.

ok, nothing done, she's going north
  • #9,074
  • Jul 26, 2009 4:26pm Jul 26, 2009 4:26pm
I took 20.

19/21

ok end game. dealers gone breakfast with worm. lol

north expedition.
  • #9,075
  • Edited 4:54pm Jul 26, 2009 4:33pm | Edited 4:54pm
now long 20
27 choice.

29 choice

28/30

27/29

26 choice

23/25

22/24

25/27

23 choice

27/29

31/33

no price. game north.


cu
  • #9,076
  • Jul 26, 2009 6:03pm Jul 26, 2009 6:03pm
Quoting fti
Hi Zoran,

Nice to see, you're up and going?
trade well my friend.

Whats you doing in Serbia, you enlisted? Foreign Legion?

regards
Hi fti, I moved to Serbia with my family about a year ago but still working in the UK so I'm spending a couple of weeks here (3 weekends) and then a couple in the UK (1 weekend).

I'd love be to be trading full time but my contract keeps getting extended and work is really busy now so I haven't been trading much but otherwise I am pleased with my results. Profit has been good this year although there's always room for improvement!
  • #9,077
  • Jul 26, 2009 9:15pm Jul 26, 2009 9:15pm
keeping an eye on 4207 area and watching how 4230 area reacts, not ready to square up from below yet.
  • #9,078
  • Jul 26, 2009 9:22pm Jul 26, 2009 9:22pm
Quoting fti
now long 20
27 choice.
cu
morning sir,
wat u meant by choice?
To Live is the rarest thing in the world , Most people exist , that is all
  • #9,079
  • Jul 26, 2009 9:43pm Jul 26, 2009 9:43pm
Morning, dear fti and all !

Here's a nice article to read while drinking morning coffee, he looks a bit attractive in this picture:
http://www.nytimes.com/2009/07/27/bu...anke.html?_r=1
  • #9,080
  • Jul 26, 2009 10:28pm Jul 26, 2009 10:28pm
Quoting maheswara
morning sir,
wat u meant by choice?
choice price, whatever you do your choice.
buy also can, sell also can, I do at same price.

regards
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