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  • #162,181
  • Nov 16, 2009 8:13pm Nov 16, 2009 8:13pm
I havent made any trades since I went long last friday and closed that pos. Right now im still playing this uptrend as signified by the blue trendlines. I have major supports on my charts as 1.4765 and 1.4625 areas. I may attempt longs in the 1.49 area if PA respects this trendline. Although the trend is still up, it appears to be exhausted....
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  • #162,182
  • Nov 16, 2009 8:25pm Nov 16, 2009 8:25pm
Quoting The Fool
There are recurring (for weeks and months) newswire notices of Asian CB's buying USD. These are "emerging market" export-oriented economies that suffer when the USD is devalued. South Korea, Singapore, Maylasia, etc. They have been very active as E/U gets up here in the 1.5 neighborhood and, without counterposing actions by the USD-bear's proxies, probably hedge funds who sit in the Fed's back pocket - they might be able to cap E/U below 1.51.
Hi The Fool ( a very unfortunate moniker...LOL)

I think that you are correct that the Asian Tiger economies would want the USD stronger but until China decides that it has had enough of the USD falling then it will continue to fall (or stay where it is currently). The US government is not seen as being honest about economic policy. Look at earlier today. Mr Bernanke says he wants a strong USD and the USD rose.. for all of about 5 minutes... Then all the traders fell on the floor laughing at the joke and drove the USD straight back down.

Having said that, I think that the traders are wary of breaking the 1.5062 level in case it brings China into play. China does NOT want the USD this low but they have enormous time frames. China knows it can drive the USD up any time it wants. And if there was any doubt about how far it can drive the USD up, go back and have a look at the drop in the Euro from 1.6 in August 2008. That was driven by China...It was not, as generally stated caused by the Great Financial Crisis. ... The GFC didn't hit until some 10-12 weeks later. Nor could it be said that some insiders knew that the GFC was about to happen. Even the biggest players in the industry had no real idea that it would happen.

.
  • #162,183
  • Nov 16, 2009 8:29pm Nov 16, 2009 8:29pm
Quoting Turveyd
Pivots are completely worthless people, step away from the pivots.

They also encourage top and bottom trading which is generally suicide give them up!!
this is crazy talk, do some research!
----- Dragonfly out in the sun you know what I mean, don't you know
  • #162,184
  • Nov 16, 2009 8:36pm Nov 16, 2009 8:36pm
Quoting jacko
Hi The Fool ( a very unfortunate moniker...LOL)

I think that you are correct that the Asian Tiger economies would want the USD stronger but until China decides that it has had enough of the USD falling then it will continue to fall (or stay where it is currently). The US government is not seen as being honest about economic policy. Look at earlier today. Mr Bernanke says he wants a strong USD and the USD rose.. for all of about 5 minutes... Then all the traders fell on the floor laughing at the joke and drove the USD straight back down....
Thanks for your insight Jacko.

ps. If I correctly remember euro crossed 1.5000 down on August 8 or 9, 2008 when that mortgage bubble surfaced. But now it is clear how it got to 1.5000 from 1.6000+
The Thief of Wall Street
  • #162,185
  • Nov 16, 2009 8:37pm Nov 16, 2009 8:37pm
Quoting The Fool
There are recurring (for weeks and months) newswire notices of Asian CB's buying USD. These are "emerging market" export-oriented economies that suffer when the USD is devalued. South Korea, Singapore, Maylasia, etc. They have been very active as E/U gets up here in the 1.5 neighborhood and, without counterposing actions by the USD-bear's proxies, probably hedge funds who sit in the Fed's back pocket - they might be able to cap E/U below 1.51.
On reading through Mr. Shirikawa's speech, there seemed to be considerable emphasis on the undesirability of high spending levels, specially for imports. The site for his speech was also most interesting..
Ah Luv the smell of a good prediction in the mornin!
  • #162,186
  • Nov 16, 2009 8:37pm Nov 16, 2009 8:37pm
Quoting jacko
Hi The Fool ( a very unfortunate moniker...LOL)

I think that you are correct that the Asian Tiger economies would want the USD stronger but until China decides that it has had enough of the USD falling then it will continue to fall.....

.
Cool, thanks jacko. I was just sitting around here watching the News Hour on PBS & of course, there were lots of stories about Obama in China. Its kind of odd & a little funny, maybe even a little sad - but I got the feeling China had let the President of their most troublesome debtor nation in through the back door, like the retarded yard boy... they wouldn't even let him talk to the population on TV....
"If The Fool persists in his Folly he will become wise." - William Blake
  • #162,187
  • Nov 16, 2009 8:39pm Nov 16, 2009 8:39pm
Well if the idea of a stronger USD is a joke, and yet traders are wary of breaking the the 1.5060 barrier, then it looks like we are going to be range bound for a good while longer...
  • #162,188
  • Nov 16, 2009 8:41pm Nov 16, 2009 8:41pm
Quoting stevefx
Well if the idea of a stronger USD is a joke, and yet traders are wary of breaking the the 1.5060 barrier, then it looks like we are going to be range bound for a good while longer...
Home, home on the Range.....I love it.
"If The Fool persists in his Folly he will become wise." - William Blake
  • #162,189
  • Nov 16, 2009 8:43pm Nov 16, 2009 8:43pm
Quoting stevefx
Well if the idea of a stronger USD is a joke, and yet traders are wary of breaking the the 1.5060 barrier, then it looks like we are going to be range bound for a good while longer...

It is very possible that the market will consolidate between 1.4940 and 1.5040 for some time before it breaks out to the topside.
"Timing Is Everything. Really I Swear It Is"
  • #162,190
  • Nov 16, 2009 8:46pm Nov 16, 2009 8:46pm
Quoting The Fool
Home, home on the Range.....I love it.
(Giggles)-banjos, roasted marshmellows, fried lizard on a stick(bet thats one you haven't had yet Chicky), mmmm...

buy em low, sell em high, rawhide!
  • #162,191
  • Nov 16, 2009 8:56pm Nov 16, 2009 8:56pm
I think we are headed for a retest of the 1.50623. Until the FED actually tightens the credit markets, the dollar will be weak. Nothing will happen soon until the consumer comes back into the economy. EUR/USD is still headed up.
All Work & No Play!
  • #162,192
  • Nov 16, 2009 8:59pm Nov 16, 2009 8:59pm
Quoting The Fool
Cool, thanks jacko. I was just sitting around here watching the News Hour on PBS & of course, there were lots of stories about Obama in China. Its kind of odd & a little funny, maybe even a little sad - but I got the feeling China had let the President of their most troublesome debtor nation in through the back door, like the retarded yard boy... they wouldn't even let him talk to the population on TV....
Hi The Fool

As you know, in China and most Asian society, the patriach makes all the decisions and the young men show great respect and humility to their elders.
On that societal basis, the older/senior Chinese leadership would be seeing Mr Obama as a young inexperienced boy in a big job in which he has no real experience or training.
They would not be underestimating Mr Obama, but they would certainly still be confused as to how the strongest nation on earth made a young inexperienced man the President.
  • #162,193
  • Nov 16, 2009 9:05pm Nov 16, 2009 9:05pm
Quoting Turveyd
I'm talking entirely maths statistically wise, the chances of a pivot point holding and creating a market reverse are sub 30% and the use of creates counter trend trades so 70% BAD Losers.

Look at yesterdays chart and pivots or a few weeks worth yes you'll see 1 or 2 times where it's got lucky and kinda worked but for every 1 of those you'll see 2x's+ where they just weren't relevant at all.

It's all about Direction!!
I don't know how accurate are those statistics.. mathemathicaly wise you can have a 30% hit rate and still make money ,however i agree with about "market direction" to be very important.
"Simplicity is the ultimate sophistication" leonardo da vinci
  • #162,194
  • Edited 9:21pm Nov 16, 2009 9:06pm | Edited 9:21pm
Quoting stevefx
(Giggles)-banjos, roasted marshmellows, fried lizard on a stick(bet thats one you haven't had yet Chicky), mmmm...

buy em low, sell em high, rawhide!
I got busted today about all my delicacies on that cat's meat. So no more lizzards, cockroaches, scropion, cats, dogs, etc. for me. However, crocodile(Kenya), rodent (Liberia) and hare (could be a cat - Greece) meat were for real and also that goat testicles (with kidneys, heart, brain and ribs - Afghanistan)- I took some europeans for goat testicles dinner, they just loved this one of my favorite dish.

ps. Forgot that frog-leg soup of a labanese restuarant in Cairo.
ps 2. and also the Octopus also in Greece

Jezzzzzzzz! all these were for real
The Thief of Wall Street
  • #162,195
  • Nov 16, 2009 9:30pm Nov 16, 2009 9:30pm
Quoting Chicky
Hi Jay.

I hate these words. Not because they are not good, but I used to hear them everyday from one of my supervisor who was THE most unethical and unprofessional person I ever had an experience of.

One day, I just kicked his table and quit the job. (I would have kicked his ass, but they are considered somewhat holy in the US when it comes to literally kicking someone's)
Euh. Ok.

Does that mean the word is forbidden?
Not all sins are created equal
  • #162,196
  • Nov 16, 2009 9:34pm Nov 16, 2009 9:34pm
Quoting Turveyd
Pivots are completely worthless people, step away from the pivots.
Short version reply applicable to the above drivel by someone alot smarter than me.

**********
Longer version follows... which will surely get this post Binned but at last I'll know where to find it in the future.

Same old Tired Tune, different month, and almost a different year as well.

Funny, but when anyone says anything even slightly critical about your 1m TF you're always on about ((and remember I sometimes trade them also...)) you go off like a chicken on a june bug crying a river about the evils of trading anything much longer than that and loudly declaring that anybody ((including some highly respected members here like James16 and Jacko)) that says that they actually are profitable on longer TF's are liars and/or scammers but yet you reserve the right to repeatedly slander and/or ridicule anybody else who has had some success in an area that you have clearly failed at... in this case pivot trading.

Your hypocrisy apparently knows no limits.

If you'd like, I can post links to support my reference to your silly blathering on about longer TF traders either lying or stealing from the unsuspecting newbies you purport to be "protecting" that you have so generously provided over the last year or so. Or one can just scrounge a'rd in the Recycle Bin for them...

Better yet... since those same "newbies" you're so concerned about probably don't even know there IS a recycle Bin, you guys can just read some of them below and draw your own conclusions about this joker, have a good chuckle... and then forget 'em.
Quoting Turveyd
You must be right if James 16 says so, why did he setup a paid area where his followers can preach to him again, after all surely he's ridiculously rich from his great trading method, or maybe thats a Myth to.
And concerning Jacko...
Quoting Turveyd
Jacko Jacko Jacko, he's that good he used this site to set himself up a little business taking money from other traders, he's a con artist give it up!!
Quoting Turveyd
Has he got a pay site aswell ?? Or did he write a book to sell ??? If you can't trade, convince others you can and sell them a system / book!
Quoting Turveyd
Ahhhh but there losing to, there just lying about it
Quoting Turveyd
Most of the stuff they believe is just utter rubbish I mean Myth's.... M1 only for me...
Quoting Turveyd
I hate this higher TF myth CRAP, okay here are the facts...

Your just repeating the Myth to stop people trying to trade on low TF's...

Arrggggghhhhhhhhhhh I hate higher TF's!!!
Quoting Turveyd
Thanks to you to do, atleast we can say we've tried but sadly we are out numbered... sadly most people who comes to Forums end up talking to wanna be traders who are losing there ass and teach others to lose there ass and so the cycle continues...

The big boys must love forums and all the just plain stupid ideas that get taught in them!!
Alrighty then...
FUBAR...
  • #162,197
  • Nov 16, 2009 9:34pm Nov 16, 2009 9:34pm
Abraços do Brasil para todos
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My English its not very well, be patient
  • #162,198
  • Nov 16, 2009 9:37pm Nov 16, 2009 9:37pm
Quoting Jay Walker
Euh. Ok.

Does that mean the word is forbidden?
Unless you have a spare set of teeth ............... not necessarily but in case the real you turns out to be that individual.

You can uninstall a program, but certain components still remain installed. No matter how civilized I may become, but origin never changes.
The Thief of Wall Street
  • #162,199
  • Nov 16, 2009 9:51pm Nov 16, 2009 9:51pm
Most everybody here knows that I probably have more fun on this thread than I should .
But I do have a serious question for Jacko.

Hi Jacko,

What would you say is the best source of indicative volume for spot forex ?

I watch cme & globex futures and I think it is a fair representation on average
of fx market volumes at most given times. Do you recommend a different source ?

Better yet, what do you use to gauge volume ?
  • #162,200
  • Nov 16, 2009 9:51pm Nov 16, 2009 9:51pm
Quoting ak4x
Short version reply applicable to the above drivel by someone alot smarter than me.

**********
Longer version follows... which will surely get this post Binned but at last I'll know where to find it in the future.

Same old Tired Tune, different month, and almost a different year as well.

Funny, but when anyone says anything even slightly critical about your 1m TF you're always on about ((and remember I sometimes trade them also...)) you go off like a chicken on...
Hi ak4X

For a moment there, I thought ALL those posts by Turveyd were about me...
Then I saw that only the first one was directed to me. The others were directed at other traders.
So now I don't feel too bad. ....LOL

PS I am sure all the other traders Turveyd has targetted would like to be credited properly with their individual posts

.
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