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  • #11,181
  • Apr 2, 2010 10:24am Apr 2, 2010 10:24am
I have been very busy moving these past couple days, will post some charts and commentary later tonight. Back in Penns Woods !
Annoying Precision
  • #11,182
  • Apr 2, 2010 10:40am Apr 2, 2010 10:40am
I am hoping I have posted to the right section here...I just attended a free webinar presented by Options University Forex Trader...hosted by "Forex Joe"...does anyone here have any experience with this firm...legit or not so legit...any reply would be greatly appreciated...

I tried to post a new thread but it came back saying I was a junior member...I have been using Forex Factory for news for about 1 year and just joined this forum so i could get more information regarding legitimate trading systems...can anyone help in this area..

Also do I need to wait to get bumped up to a regular member to post the same question in a new thread so i do not have to disrupt another totally different thread based on possibly another thread subject...

thanks very much!
  • #11,183
  • Apr 2, 2010 10:56am Apr 2, 2010 10:56am
Quoting james_t
i saw your post and for some reason i thought i would do strat a favour and save him having to reply and just very briefly fill you in on my journey here which is nearing its end. after over 2 years studying strat, james 16 (strat/blackeagle basically take james 16 stuff to the next stratosphere)
Based on the dates, James and I started Strat's thread around the same time. I thought it was just me but there appear to be quite a few posters who haven't read the thread before posting their drivel.

I can second James' comments on how long this takes. I've been at this seriously for a year and a half now and am just to the point I can keep myself from making mistakes and not loosing money. I'll begin working on profitability now. But DAMN it has taken a lot longer than I thought. I'll keep at it until I get it right.

Occasionally, I need encouragement to keep on plugging away at it when I seem to hit a wall. Thanks, James, for getting me through the next wall.

-m
  • #11,184
  • Apr 2, 2010 11:09am Apr 2, 2010 11:09am
Quoting jharonis
I am hoping I have posted to the right section
.
  • #11,185
  • Apr 2, 2010 11:12am Apr 2, 2010 11:12am
and how our Mind works.....something from VERNON HOWARD..

Vernon Howard's
SECRETS OF LIFE (R)

**********************************************************************


"Human beings cannot see beyond their immediate personal self-
interest. Their inner mental eyesight looks around the room,
around the field, wherever they are, and the object of their
gaze sets off desire.'I want to go over there, I want to get
that, I want to meet her, I'd like to taste that.' And this is
the way the day is squandered by practically everyone.
Because that is all there is, no one can look out at the world
and see something and then have a proper reaction, and I'm going
to tell you about the right reaction.

Every time you see anything, anybody, any situation, immediately
go intelligent about it instead of mechanical about it, instead
of wanting to grab it, possess it, thrill at it, wonder at it,
wonder whether you can get it or not. Be intelligent. And I'll
tell you what 'be intelligent' means. It means that you think
about the connection between you and that person, object, what-
ever it might be, in case you get it.

Humans can't do that, they can't see the hidden consequences of
obtaining what they desire. They can't see that maybe they'll
change their mind about what they're going after in the next
five minutes. There's no ability to think about hidden traps in
chasing your desire. A little child, five or six year old Billy
or Mary, all they can say is 'I want.' At their age it's
legitimate, at your age it isn't.

You're supposed to be someone who's able to operate on yourself
so that when you say 'I want,' you'll take the whole thing apart
and say, 'Who is this wanter, who's the desirer, the seeker who
says if I think this way or talk that way then it will be good for
me?' But you can't do that because you haven't grown up where you
can ask yourself, 'why am I nothing but a collection of desires?'"

from a talk given 1/3/1986
Vernon Howard's Higher World - MP3 CD Volume 1, talk 1
  • #11,186
  • Edited 1:55pm Apr 2, 2010 11:31am | Edited 1:55pm
Quoting mstandifer
Based on the dates, James and I started Strat's thread around the same time. I thought it was just me but there appear to be quite a few posters who haven't read the thread before posting their drivel.

I can second James' comments on how long this takes. I've been at this seriously for a year and a half now and am just to the point I can keep myself from making mistakes and not loosing money. I'll begin working on profitability now. But DAMN it has taken a lot longer than I thought. I'll keep at it until I get it right.

Occasionally, I need...
Remember that it is what you do when you hit that wall that separates the 5% from the 95%. I aways think of Einstein: Even Einstein had to take more than a 1000 tries to get the Light Bulb glowing. ... Determination comes to mind, and a fine example of it's power, he exibited. Emulate what the high achievers have done to jump their hurdles. I borrowed Strat's soap box, I hope I've not overstepped my boundries. EDIT: Einstein = Edison, typing frenzy

T
T
  • #11,187
  • Apr 2, 2010 11:48am Apr 2, 2010 11:48am
Quoting jharonis
I am hoping I have posted to the right section here...I just attended a free webinar presented by Options University Forex Trader...hosted by "Forex Joe"...does anyone here have any experience with this firm...legit or not so legit...any reply would be greatly appreciated...

I tried to post a new thread but it came back saying I was a junior member...I have been using Forex Factory for news for about 1 year and just joined this forum so i could get more information regarding legitimate trading systems...can anyone help in this area..

Also...
I don't know about Forex Joe, but you have stumbled on some good info about Dr. Joe. You should hang out, IMO this is the most highly educational thread at FF or any forum for that matter, but then again I've only studied, the internet forums, a few short years, so in the professional traders opinion, I'm still a greenhorn. Lot's of sharp minds congregate here.
T
  • #11,188
  • Apr 2, 2010 12:03pm Apr 2, 2010 12:03pm
Quoting james_t
hi baniu

not sure if my long post on why that hammer (and tongs) on the EG daily is hugely risky (namely buying plonk into weekly 20 (20 pips away), weekly hammer has lost control now vs weekly star/weekly dark cloud cover prior to it, now forming weekly BEEB, continuing rejection at top of triangle end of feb) is here or not seems the moderators have blocked it????

weird - anyway bascially seems to me market may use that daily hammer to pause and prepare for a break of the PPZ u identified and also break weekly/daily 50s, then plump onto...
Couple of good posts you have written James, I think you should keep posting!

Having been in the "Business" and been through the path i believe you could be a good addition to the thread.
  • #11,189
  • Apr 2, 2010 12:18pm Apr 2, 2010 12:18pm
Quoting mstandifer
I've been at this seriously for a year and a half now and am just to the point I can keep myself from making mistakes and not loosing money. I'll begin working on profitability now. But DAMN it has taken a lot longer than I thought. I'll keep at it until I get it right.

Occasionally, I need encouragement to keep on plugging away at it when I seem to hit a wall. Thanks, James, for getting me through the next wall.
Well I'm not sure I've got to the point of not losing money at all but I am seeming to be making a little by concentrating on strongly trending pairs like EURAUD and EURCAD despite them having wide spreads with my SB company. I hit a major wall in January this year, but having shifted to the more obvious charts to read, I am getting confidence back slowly. Now there are another set of issues - when to add to a positon and build it, when to take profits and shift SLs etc. all subjects of previous posts in fact, but not directly relevant to my stage of learning at the time. Going back over the thread again reveals a whole new level of understanding now I have been trading for a while. I am absolutely sure it won't be the last time I go through it again!!

What have I learnt? Not to take trades because they might happen. One can never be 100% sure of course, but concentrating on those that seem most likely seems to pay dividends. Also the step back to easier charts has helped me not to run ahead of myself so that I will get the skills and confidence back to return to the more popular pairs (which also have much smaller spreads!).
  • #11,190
  • Apr 2, 2010 12:23pm Apr 2, 2010 12:23pm
Quoting numbnuts
This is my first attempt at a serious analysis so any advice appreciated. I am analyzing GBP/JPY.

Trend: The past week has seen a major rally but weekly chart shows us the pair is still in a long term downtrend, and on daily chart it is trading well below its 200 SMA. It is also hitting upper TL which has offered resistance 3 times beginning in august. Therefore I am waiting for the pair to reverse and start falling.

Support/resistance: price has currently hit major resistance, and there are many levels of reistance above it but little support...

Nice analysis. Keep in mind price will need to fall through BOSS 20, Worker 50 & 20, psycho 139 & 138 to reach your target. Trend line is broken with daily Bond hammer closed above; watch for upper TL to become support. Should be interesting to watch. Cheers,

T
T
  • #11,191
  • Apr 2, 2010 12:44pm Apr 2, 2010 12:44pm
Quoting Lotuselanman
Well I'm not sure I've got to the point of not losing money at all
Quoting mstandifer
...am just to the point I can keep myself from making mistakes and not loosing money.
I should really amend that statement to say 'glaring errors'. I certainly don't intend to imply I don't loose money because I do.

I meant to say loosing money from commiting glaring errors such as, selling into support, trading between the MAs or between SR levels. If I loose a trade these days, I'm comfortable with it because I finally trust my own analysis.

If you figure out how to not loose money let me know and I'll come buy you a pint (or 3) and we'll chat about that.
  • #11,192
  • Apr 2, 2010 12:46pm Apr 2, 2010 12:46pm
Quoting tmanbone
Remember that it is what you do when you hit that wall that separates the 5% from the 95%. I aways think of Einstein: Even Einstein had to take more than a 1000 tries to get the Light Bulb glowing. ... Determination comes to mind, and a fine example of it's power, he exibited. Emulate what the high achievers have done to jump their hurdles. I borrowed Strat's soap box, I hope I've not overstepped my boundries.

T

I'm sorry if I'm OT....but...Einstein....Lightbulb?!?!?!?

Einstein penned the Theory of Relativity - it is Thomas Edison who is commonly associated, albeit incorrectly, with the invention of the light bulb...
Nihil inimicus quam sibi ipse Marcus Tullius Cicero
  • #11,193
  • Apr 2, 2010 12:48pm Apr 2, 2010 12:48pm
Quoting Alexandra
On the off chance that one views an occassional intraday chart, 92.30 was tested quite smartly.... I'm not sure 93.75 is as important as it might look at first.
Indeed, the neckline may be within reach, although things need to breath a bit.

Focus on the thread does appear to have been diluted a bit. I agree with that, mstandifer. Will excuse it over the Holiday, perhaps.
  • #11,194
  • Apr 2, 2010 1:01pm Apr 2, 2010 1:01pm
Quoting Alexandra
Indeed, the neckline may be within reach, although things need to breath a bit.

Focus on the thread does appear to have been diluted a bit. I agree with that, mstandifer. Will excuse it over the Holiday, perhaps.
By resting, do you mean watching for the next weekly HL?
Attached Image (click to enlarge)
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  • #11,195
  • Apr 2, 2010 1:13pm Apr 2, 2010 1:13pm
Quoting mstandifer
By resting, do you mean watching for the next weekly HL?

I mean it's run a ways; the stops are probably gone....there are a few levels to re-test......its approaching the weekly neckline and some staic resistance, so it's a natural point to pause. The counter, of course, is that it's still quite early, and there ia a lot of monthly momentum in addition to the BOJ support. Overall, though, I would expect a bit of a pause/pullback and will constantly analyze for signs of a reversal/false break. In other words, you are correct!
  • #11,196
  • Edited 2:01pm Apr 2, 2010 1:46pm | Edited 2:01pm
Quoting coscorp
I'm sorry if I'm OT....but...Einstein....Lightbulb?!?!?!?

Einstein penned the Theory of Relativity - it is Thomas Edison who is commonly associated, albeit incorrectly, with the invention of the light bulb...
You are correct. OT = ?
T
  • #11,197
  • Apr 2, 2010 2:07pm Apr 2, 2010 2:07pm
The Federal Reserve at 5PM yesterday announced a surprise meeting for Monday (at 15:30GMT) to discuss the advance and discount rates. The last time they did this was the evening of February 18th when EURUSD sank 200pips in a few hours (and others like AUDUSD were not pretty). Not saying this will happen again but the market might over-react.
There is no indication they are discussing anything but the discount rate at the moment.
Just thought I would mention it because its not on the FF calendar.

http://www.federalreserve.gov/boardd...dvancedexp.htm
  • #11,198
  • Apr 2, 2010 3:49pm Apr 2, 2010 3:49pm
Quoting strat
Very well said, Pi man.

I find it really amazing that we as adults put so many obstacles in front of us when we are trading, when all we should really do is forget everything and just trade what we see. This more than ever convinces me that our psychology in trading is the greatest evil we have to overcome. After all, trading is just merely a set of rules, it is what is in our head that prevents us from following the rules.

Oh to be young and innocent again!
Albert Einstein summed up the trading dilemma very well:

Make everything as simple as possible, but not simpler.

(my signature on FF now)
"Make everything as simple as possible, but not simpler" Albert Einstein
  • #11,199
  • Apr 2, 2010 4:56pm Apr 2, 2010 4:56pm
Quoting baz
and how our Mind works.....something from VERNON HOWARD.....
Can you think of anything more permanently elating than to know that you are on the right road at last? -- Vernon Howard
  • #11,200
  • Apr 2, 2010 5:43pm Apr 2, 2010 5:43pm
Quoting strat
Sorry Dan, none of us are right - only the Queen and her grail are right!
The term "Grail" is often bandied around on this thread, especially by Baba G.

Please explain what it means.

Also may I suggest that it be added to the list of acronyms.
"Make everything as simple as possible, but not simpler" Albert Einstein
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