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  • #8,001
  • Edited 7:11pm Nov 26, 2009 10:23am | Edited 7:11pm
Hi guys

Thanks for the responses everyone. First of all Happy Thanksgiving to all. I am very excited about this idea!!!!

Luckily everyone likes a different pair, or we have such good readers that they know which ones have been chosen already?

So in that case I'd like to request three things from you all.

One is so that we don't clog the thread with unnecessary administrative banter, please send me PMs when answering the following and I will compile and publish the results on here. Most have you have already said what pairs you'd like. I'd like to know if you all especially Strat, think if its best to fire up a forum linked to the index to do this? Or continue the effort on this thread?

Crudecraig - USDCAD
Mstandifer - AUDCHF
Jideck - AUD/USD
Keyser Soze - EUR/USD
Naws - EUR/GBP
Lou - NZD/USD
Soso - GBPUSD
hcristea - Gold
Grimweasel - Index of Choice (Snp500?) and CAD/JPY
Lotusleanman - USD/CHF
Sinan - EUR/JPY
Spinner - EUR/AUD
LarryK - GBP/JPY
eliteljets - Crude and $usd index
Donadoney - NZD/JPY
Nick'em - AUD/YEN

So any additional requests for pairs, and the answer to these questions, please send me a PM and we'll get started asap.

Thanks again guys!

Lou - I agree totally with your ideas. It can be tackled two ways. The way you suggested, OR we can choose a free charting system and let everyone read from that. However, I prefer your idea of reading the poster's charts only. So posters must post the respective charts!
  • #8,002
  • Nov 26, 2009 2:22pm Nov 26, 2009 2:22pm
I would love to contribute with 1 currency pair but I am not at the stage where I can draw the dsri. I am planning to pick up my learning this weekend.

I sincerely hope to +vely contribute to this thread in coming days
  • #8,003
  • Nov 26, 2009 2:29pm Nov 26, 2009 2:29pm
Quoting djr
Happy Thanksgiving to all on this side of the Pond.

I spent the wee hours this Thanksgiving morning studying Strat's Thanksgiving Bonanza (post 7956). Three hours later, the logic seemed to start to finally come together.

Thank you for the post really doesn't cut it, Strat, so as an alternative and to put my ar*e on the line, I would be honored if you would consider me for taking a crack at a currency pair (any one that has not been claimed) as proposed by Donadoney (post 7978), even though I am still only at p218, and reading furiously...
Please delete the EW attachment - it adds no value whatsoever. Thanks.
15 YEARS OF PASR ON FOREX FACTORY!
  • #8,004
  • Nov 26, 2009 2:32pm Nov 26, 2009 2:32pm
Quoting Donadoney
Hi guys

Thanks for the responses everyone. First of all Happy Thanksgiving to all. I am very excited about this idea!!!!

Luckily everyone likes a different pair, or we have such good readers that they know which ones have been chosen already?

So in that case I'd like to request three things from you all.

One is so that we don't clog the thread with unnecessary administrative banter, please send me PMs when answering the following and I will compile and publish the results on here. Most have you have already said what pairs you'd like. I'd like...
Let's do it out of sight of the Lurkers, Shurkers, freeloaders and the "all take, no give" mob.
15 YEARS OF PASR ON FOREX FACTORY!
  • #8,005
  • Nov 26, 2009 2:45pm Nov 26, 2009 2:45pm
thanks STRAT and all you for this thread.i have read it about month,still page 69/1021,becouse english is not my own language,so my learning is litlle slow,but i have time and patience,regards from Finland yours juha
  • #8,006
  • Nov 26, 2009 2:53pm Nov 26, 2009 2:53pm
I personally think this is a great idea. It will certainly take me out of the comfort zone, and we are all here to learn, so any criticism will hopefully be constructive.
I am happy to take any pair, assign me the dregs nobody else wants.
My only concern, is at the moment real life keeps me too busy to do a daily report, in fact it can be weekends before i even open my charts, so i'm not actively trading.
Also, some kind person will have to talk me through how to post a chart, i'm embarrassed to say.

Regards
  • #8,007
  • Nov 26, 2009 3:03pm Nov 26, 2009 3:03pm
Quoting golfer27
I personally think this is a great idea. It will certainly take me out of the comfort zone, and we are all here to learn, so any criticism will hopefully be constructive.
I am happy to take any pair, assign me the dregs nobody else wants.
My only concern, is at the moment real life keeps me too busy to do a daily report, in fact it can be weekends before i even open my charts, so i'm not actively trading.
Also, some kind person will have to talk me through how to post a chart, i'm embarrassed to say.

Regards
Hey Golfer,

I think the idea is to just do a weekly recap on the daily PA every Sunday not an everyday analysis so you would only really need about an hour or so every weekend.

No problem on the chart posting either, I'll walk you through it when we cross that road.
  • #8,008
  • Nov 26, 2009 3:12pm Nov 26, 2009 3:12pm
Christ, i'm having more 'senior' moments than i like, i must have completely misunderstood the original post.
I have no probs doing an end of week analysis on the daily moves, more than happy to. Any pair, makes no difference, i'm equally crap!! but hoping to improve.
Thanks for the offer on the charts. I will hold you to it buddy!

Regards
  • #8,009
  • Nov 26, 2009 3:52pm Nov 26, 2009 3:52pm
Quoting golfer27
I personally think this is a great idea. It will certainly take me out of the comfort zone, and we are all here to learn, so any criticism will hopefully be constructive.
I am happy to take any pair, assign me the dregs nobody else wants.
My only concern, is at the moment real life keeps me too busy to do a daily report, in fact it can be weekends before i even open my charts, so i'm not actively trading.
Also, some kind person will have to talk me through how to post a chart, i'm embarrassed to say.

Regards
That's exactly the idea and like Craig says its a once a week thing.

Quote
do it out of sight of the Lurkers, Shurkers, freeloaders and the "all take, no give" mob

Gotcha Strat.
  • #8,010
  • Nov 26, 2009 4:14pm Nov 26, 2009 4:14pm
Quoting Donadoney
Hi guys

Thanks for the responses everyone. First of all Happy Thanksgiving to all. I am very excited about this idea!!!!

Luckily everyone likes a different pair, or we have such good readers that they know which ones have been chosen already?

So in that case I'd like to request three things from you all.

One is so that we don't clog the thread with unnecessary administrative banter, please send me PMs when answering the following and I will compile and publish the results on here. Most have you have already said what pairs you'd like. I'd like...

Hi Donadoney,

It does not seem as though anyone has taken the AUD/JPN, therefore I would like to see how I am progressing on the path and volunteer to do the AUD /JPN



Nick
  • #8,011
  • Nov 26, 2009 4:15pm Nov 26, 2009 4:15pm
Quoting Lou
1.That everyone commenting is to walk in the shoes of the original poster of the charts. That is... they should base their comments on the chart that is posted. Not based on their own chart package.
On this point and particularly for evaluating analysis and commenting on others...I would like to submit FXPro as our evaluation platform for this exercise. I use IBFX for trading but I find Strat's charts (FXPro) to be more readable than mine.
-m
  • #8,012
  • Nov 26, 2009 5:05pm Nov 26, 2009 5:05pm
Quoting mstandifer
On this point and particularly for evaluating analysis and commenting on others...I would like to submit FXPro as our evaluation platform for this exercise. I use IBFX for trading but I find Strat's charts (FXPro) to be more readable than mine.
-m
Hi

I also use IBFX and would like to do in this format. I do not know whether changing the trading platform is the answer here IMO.

Jideck
  • #8,013
  • Nov 26, 2009 5:24pm Nov 26, 2009 5:24pm
Europe and Asia sure seem to be having a blast selling the market like crazy!
especially the JPY crosses.
  • #8,014
  • Nov 26, 2009 6:17pm Nov 26, 2009 6:17pm
Yeah, last couple of days and today 400, 500, 600, 700, 800 pips better than the rest.
Did a funnymental change on the Yen?


Quoting CrudeCraig
Europe and Asia sure seem to be having a blast selling the market like crazy!
especially the JPY crosses.
If you wish to know the road, inquire of those who have traveled it.
  • #8,015
  • Nov 26, 2009 6:45pm Nov 26, 2009 6:45pm
Hello Everyone,
Happy thanksgiving to our American friends! Just wanted to post my first trade following Strat's Rules.

It was on the Eur/Aud and I was stopped out but I'm not sure if I should have been stopped out for the full amount or whether I read price action correctly and got out 10 pips above the spinning top in the small daily range.

My thinking was this: Although we had a pause in the down trend (last week's bar) the bond shooting star looked like it would have little interference getting down to test the lows around 1.6110. I thought that I'd let Dr. Joe guide me and went short on a 10 pip break of the bond hammer with 1% risk due to the lateness in the trend and the possible bounce at the bottom of the weekly candle.

After the small rejection of Monday's candle (at this time I didn't know that a single holiday on a week could mess with the whole week's trading) I identified what I thought might be a small daily resistance hanging up the descent of my trade which I marked in black. I saw the range candle the next day and thought damn I guess I need more practice but I'll stick to my stop as that will teach me to stick to my plan. However the next day's candle produced a strong spinning top which tested my black resistance line. I took this as a sign that the "jig was up" and tightened up my stop to about 10 pips above it. The next candle was today's explosion and my stop was taken out.

Now I'm not sure if I read PA properly in the range, in fact I'm inclined to think that I just got lucky. I was targeting the first green line to tighten up my stops or take some profit depending on what PA told me but it never got there.

So Strat I'll submit myself to the lash to see if I need to re-read the path again. I think I was in control of my emotions during the trade and I honestly don't' think I was looking to trade but maybe I got too excited with the look of the candle.

At any rate of I screwed up maybe it will help others on the path as well.

Thanks for your recent posts and help in advance. Cheers.

John
Attached Image
Finally out of the shadows.
  • #8,016
  • Nov 26, 2009 7:23pm Nov 26, 2009 7:23pm
Great idea Donadoney!

I would definitely be interested, if there are any pairs still open. If not, I will contribute where I can and comment on other people's analysis.
  • #8,017
  • Nov 26, 2009 7:56pm Nov 26, 2009 7:56pm
Quoting gaf
Hello Everyone,...
From one beginner to another, to me this immediately looked like a high risk trade. You took a trade off a bond hammer which hit minor SR and at a point where there may be an indication of a trend reversal. I wouldn't trade a bond hammer as it usually tells me to stay away and watch the people that jump in long just because they see a hammer shaped candle.

From what I understand is that you should find trades that have room to run and look for price action on the breaking of the minor SR you identified. I don't have any data right now as I just signed for an account, but that is my two sense. I am sure the more knowledgeable members here can provide some more insight for you and me!

At least you made a trade and stuck to your plan!
  • #8,018
  • Nov 26, 2009 8:03pm Nov 26, 2009 8:03pm
Todays sell off was caused by the highly leveraged Dubai World, a government investment company is attempting to reschedule its debt. The company is best known for its awe inspiring developments including the Palm Dubai which can be seen from space. A 50% drop in Dubai property values has the left the company in a precarious position with some US$ 59 billion in debt, US$ 12 billion of which is borrowed from Europe. The credit default swap market exploded on the news with the cost of protecting against borrowers defaulting on their loans rising to levels not seen since the dark days of the credit crisis. Credit default swaps are also exploding on Greece which is seen at risk for a default on its debt.

Equity investors were left shell-shocked after a harrowing illiquid trading session in Europe saw one way traffic. Anything that is remotely associated with risk was shunned, seeing European stocks fall over 3%. The biggest casualties were the banks with massive drops accross the board. The list includes: Credit Suisse (-5%), HSBC (4.8%), Barclays (-8%), Lloyds (-5.75%) and Royal Bank of Scotland (-7.75%) The Aussie lost 200 points in the bloodbath, breaking straight through trendline support to start the day in the low 0.91's.
Not long ago Citigroup wrote a report about how the Japanese retail market was long the Aussie to the tune of about 9.6 billion dollars (amongst other things). What you saw tonight at the open was some of them re-evaluating those positions and doing some panic selling. Stops then flying in very low liquidity.

Also tonight on the wires bearish news for sterling, comments on GDP:
Finance minister Alastair Darling will announce that the UK economy is likely to shrink by 4.75% in 2009 as opposed to the 3.5% forecast earlier in the year. On the plus side, there still should be some small growth in Q4, of between 0.2/0.4%.

Dubai story - http://www.bloomberg.com/apps/news?p...d=aRsjlClzl500
  • #8,019
  • Nov 26, 2009 9:54pm Nov 26, 2009 9:54pm
Quoting elitejets
Todays sell off was caused by the highly leveraged Dubai World, a government investment company is attempting to reschedule its debt. The company is best known for its awe inspiring developments including the Palm Dubai which can be seen from space. A 50% drop in Dubai property values has the left the company in a precarious position with some US$ 59 billion in debt, US$ 12 billion of which is borrowed from Europe. The credit default swap market exploded on the news with the cost of protecting against borrowers defaulting on their loans rising to...
Hi Nicolahttp://cdn.forexfactory.com/images/icons/icon7.gif

I would have expected for the gold to shoot up instead of the dollar on such a news.

Thanks for the insight.
Happy trading
Jideck
  • #8,020
  • Nov 27, 2009 12:33am Nov 27, 2009 12:33am
Quoting pipfx
Great idea Donadoney!

I would definitely be interested, if there are any pairs still open. If not, I will contribute where I can and comment on other people's analysis.
strat/donadoney,
i have not contributed much in here though this strategy aligns with mine....i would like to be part of this idea...any pair is fine...hope we have a smaller closed group for this one so that each comment is highly valued/important....
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