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  • #245,521
  • May 20, 2010 12:04pm May 20, 2010 12:04pm
Quoting gatorinla
yeah but i got a bad taste in my mouth posting that. ive waited for this day for 9 months.. but i have to tell what i see.. not what i want to see. anyway oil is below 65... people have to cover oil contracts. people who sided with me will make a lot of money today.. those same people may be buyers at oil/stocks at such a low price. these are not the guys that made the upper leg on the tweezers... lots of dead people today who wont be able to come back to the market. the minority was short oil... the ones who paid attention to the man behind the...
What is happening today gator? Do you mean the intervention or what?
  • #245,522
  • May 20, 2010 12:04pm May 20, 2010 12:04pm
Quoting cgeorge
Probably one of the best posts I have read here. I might add that until you are truly comfortable with how you trade it is very hard to make money. Know yourself and know your style.
Well, for me it was a matter of growing up and dealing with my gains/losses without any emotion so I wasn't riding the rollercoaster of elation to depression. Enter each trade with confidence, but with a timid respect of the market.
It's like handling a loaded gun. Do it confidently, but always be mindful of it's ability to take a life.

Once I wasn't afraid to lose money, it made me a more successful trader overall. I learned that this is a business. I'm not sitting at a poker table in Vegas, I'm trying to earn a living for me and my family and they depend on that determination to further their lifestyle.

I have set daily and monthly goals in order to retain that lifestyle.

Today is the 20th of May and I'm $157.00 from my monthly goal. Am I a successful trader? You bet your ass I am.

Is it wrong to think of yourself as a success? Absolutley NOT....it's a requirement in this line of work.
Capital Preservation is key to long term wealth accumulation
  • #245,523
  • May 20, 2010 12:05pm May 20, 2010 12:05pm
After two gains and one loss yesterday I took a loss today. I'm sort of contemplating trading the USD/CAD next week because these moves are somewhat odd and choppy.

By the way for those who want to watch the financial news, Bloomberg started using the flash player instead of the windows media player so it's now clearer and the sound is a lot more pleasing to the ear. Bloomberg TV is free 24 hours a day on their website.
  • #245,524
  • May 20, 2010 12:06pm May 20, 2010 12:06pm
Quoting MuddBuddha
CNBC.com

Just don't pay attention to the currency "analysts". Trade your system, not their opinions.
Yes, the best way to learn is to trade ur own system. You learn by making mistakes, but dont repeat them. Admission of mistake makes learning possible. Always write down what u did and why u did. Make ur own agenda
  • #245,525
  • May 20, 2010 12:06pm May 20, 2010 12:06pm
Now, get out there and play ball!

(end of pep talk)
Capital Preservation is key to long term wealth accumulation
  • #245,526
  • May 20, 2010 12:14pm May 20, 2010 12:14pm
Quoting MuddBuddha
Now, get out there and play ball!

(end of pep talk)
^^
  • #245,527
  • May 20, 2010 12:14pm May 20, 2010 12:14pm
sure.

go up.

¬¬
  • #245,528
  • May 20, 2010 12:16pm May 20, 2010 12:16pm
ok I got it worng all day long nice work got in at the low of the day 2295 and hedged at 2395. Should we get above my hedge I put sl in be of it and let her come back down. What a day... guess we have to live with those too....
Trade on your own risk Plan your trade&trade your plan dont be a
  • #245,529
  • May 20, 2010 12:16pm May 20, 2010 12:16pm
Things getting very tricky on all EUR pairs.

Have some red on the screen right now. The common denominator is EUR.
  • #245,530
  • May 20, 2010 12:19pm May 20, 2010 12:19pm
Quoting notch
The market really doesn't like these levels....
You have to admit: "LONG TERM the auction process rejects the levels between 1.36905-1.56661 and seeks balance between 1.20590 - 1.27728", made on the 21st of May 2009 was a beautiful forecast.


Anyway, I expect the price to develop between 1.2059 - 1.2773 before breaking out to the upside. Again it is a long term projection.
  • #245,531
  • May 20, 2010 12:19pm May 20, 2010 12:19pm
Quoting Carnegie
What is happening today gator? Do you mean the intervention or what?
#245072
its a battle.. intervention has slowed the leak.. wedges are rarely wrong.. but we have gravity to 2133 area and we have a trend. its a coin toss... im a buyer at 2133 (untill broken) and a seller above sixty at all tops..
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those who can, do. those who cant, talk about those who can
  • #245,532
  • May 20, 2010 12:19pm May 20, 2010 12:19pm
Who's buying EUR? And why?
Viewer Discretion Advised: Shall we shag now or should we shag later? :-)
  • #245,533
  • May 20, 2010 12:21pm May 20, 2010 12:21pm
So here we are at 1.2400...do we get rejected? Moved up fast to get here. About 50 pips up in the last 20 minutes.
  • #245,534
  • May 20, 2010 12:22pm May 20, 2010 12:22pm
Quoting SkyzerFX
Who's buying EUR? And why?
the swiss and guess Trichet has someone close there
its so retarded but hey what can u do.
Trade on your own risk Plan your trade&trade your plan dont be a
  • #245,535
  • May 20, 2010 12:22pm May 20, 2010 12:22pm
Quoting SkyzerFX
Who's buying EUR? And why?
Shoooorrtsqquuuueeezzzz lol
  • #245,536
  • May 20, 2010 12:22pm May 20, 2010 12:22pm
Quoting Natch
You have to admit: "LONG TERM the auction process rejects the levels between 1.36905-1.56661 and seeks balance between 1.20590 - 1.27728", made on the 21st of May 2009 was a beautiful forecast.


Anyway, I expect the price to develop between 1.2059 - 1.2773 before breaking out to the upside. Again it is a long term projection.
*L* long time
those who can, do. those who cant, talk about those who can
  • #245,537
  • May 20, 2010 12:23pm May 20, 2010 12:23pm
I don't see EUR going lower now. US stocks crashed, PPT stepped in at 13:00 sharp and prevented further downside. Where they got the money is anyones guess but they most likely just printed it. Do you want to own a currency of a country manipulating its own markets with zero transparency? I do not.
  • #245,538
  • May 20, 2010 12:26pm May 20, 2010 12:26pm
Quoting suthmo
Now I revise my earlier forecast of 2615 top to 2515 top reversal.

05:00 24457
06:00 2437
08:00 24143 pullback
08:00 2359
11,12,13,14,15,16,17 24457 to 25142 / 25350 ranging
18:00 drop to 2380 Range 2340
2300 drop

Have to recalculate as I go along and still working out when to do this.
So I'm long from 2320 my system showed 18:00 trip back to top of range (top reversal) but I cant discount a trek to 2510 so I have 25 trail stop 100 pips in the bag trail set to 15 pips possible drop next hour.
Founder of Sutherland Wave Principle
  • #245,539
  • May 20, 2010 12:26pm May 20, 2010 12:26pm
Quoting SkyzerFX
Who's buying EUR? And why?
But I closed my longs from 1.2180 about 5 minutes ago ... I don't know why it is still going up
Discipline + Patience - Fear - Greed = Success
  • #245,540
  • May 20, 2010 12:27pm May 20, 2010 12:27pm
EURO-DOLLAR: Euro pops decisively over $1.2400, with an eye on the o/n
highs at $1.2437. The pair will need to clear Tuesday's highs at $1.2444
for upward momentum to mount.

Provided by: Market News International
Trade on your own risk Plan your trade&trade your plan dont be a
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