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Fibonacci Paradise

  • #601
  • May 26, 2010 2:58pm May 26, 2010 2:58pm
Quoting Misterdaz
I'm starting to wish I never found this stuff....I don't like what I am seeing.

MD.
Mate...it gets way worse chuckle my thought is make money now and dont worry about it could be this year could be 20 years from now. It gets dodgey doing large fibs because you may not have all the data needed. Neat thing is this works not just on markets but things iike unemployment charts...home prices etc..it is pretty bizarre.

TK
  • #602
  • May 26, 2010 3:17pm May 26, 2010 3:17pm
Quoting ThomKnight
Mate...it gets way worse chuckle my thought is make money now and dont worry about it could be this year could be 20 years from now. It gets dodgey doing large fibs because you may not have all the data needed. Neat thing is this works not just on markets but things iike unemployment charts...home prices etc..it is pretty bizarre.

TK
Well Thom, I don't think I'll chart employment or housing data, I got a feeling it's not pleasant viewing.

Well on a lighter note I'll tell you my trading attempts today. Oh and thanks to Raptor on pointing out GBPCHF to me last night, that was a winner.

I have taken 5 trades today, 3 winners, 1 loser and one still running. The loser had me bail out a long cable position when the BBVA scare washed through the Market this afternoon, it then went to target. The final deal running is GY, by mistake I set a take profit on it of 131.40 which I have no doubt it will go there but anyway I meant to put 130.40, I would have took profit.

See, 100% is not possible. Shit, I said it in this thread now, they'll be a coming for me.

MD.
Keep smiling
  • #603
  • May 26, 2010 3:25pm May 26, 2010 3:25pm
Quoting RaptorUK
lol

Simple . . . you "bet" £x a pip on long or short . . . because it's betting there is no tax on winnings . . . no tax, no income tax, no CGT, no tax . . . none*.

So £1 a pip long on GJ, GJ goes up 100 pips you make £100 less the spread, if it goes down 100 pips, you owe £100 + spread.




* Unless it's your sole income and you make a living from it . . maybe
So Raptor, what are the parameters for doing this. How do you place a "bet"? Sorry I'm being lazy I could Google it but it's good to talk!

MD.
Keep smiling
  • #604
  • May 26, 2010 3:32pm May 26, 2010 3:32pm
Quoting Misterdaz
So Raptor, what are the parameters for doing this. How do you place a "bet"? Sorry I'm being lazy I could Google it but it's good to talk!

MD.
Well . . . you open a Spread Betting account, put some money in and place your bets . . . no MT4 involvement. Use MT4 for charting.

I had an E-Trade account and a TDWaterhouse account, E-Trade have been taken over by TDW . . . so now I just have a TDW account . . . there are plenty others, spreads tend to be a bit crappy, GU 3 pips, UJ, EU and EG 2 pips.
20 pips a day isn't too much to ask . . .
  • #605
  • May 26, 2010 3:37pm May 26, 2010 3:37pm
Quoting RaptorUK
Well . . . you open a Spread Betting account, put some money in and place your bets . . . no MT4 involvement. Use MT4 for charting.

I had an E-Trade account and a TDWaterhouse account, E-Trade have been taken over by TDW . . . so now I just have a TDW account . . . there are plenty others, spreads tend to be a bit crappy, GU 3 pips, UJ, EU and EG 2 pips.
Yeah but do I trade it the same way as forex? Do I have a stop and a profit take? doesn't seem any different to FX to me apart from the tax.

Raptor, do you get Helmet hair?

MD.
Keep smiling
  • #606
  • May 26, 2010 3:51pm May 26, 2010 3:51pm
Quoting Misterdaz
Yeah but do I trade it the same way as forex? Do I have a stop and a profit take? doesn't seem any different to FX to me apart from the tax.
Yes, yes, yes . . tax is the big thing.


Quoting Misterdaz
Raptor, do you get Helmet hair?

MD.
Yes and hat hair when I wear a hat.
20 pips a day isn't too much to ask . . .
  • #607
  • May 26, 2010 3:52pm May 26, 2010 3:52pm
Quoting Misterdaz
Well Thom, I don't think I'll chart employment or housing data, I got a feeling it's not pleasant viewing.

Well on a lighter note I'll tell you my trading attempts today. Oh and thanks to Raptor on pointing out GBPCHF to me last night, that was a winner.

I have taken 5 trades today, 3 winners, 1 loser and one still running. The loser had me bail out a long cable position when the BBVA scare washed through the Market this afternoon, it then went to target. The final deal running is GY, by mistake I set a take profit on it of 131.40 which I have...
haha you are your own worst enemy it seems! nice work though.
  • #608
  • May 26, 2010 4:33pm May 26, 2010 4:33pm
Quoting RaptorUK
Yes, yes, yes . . tax is the big thing.




Yes and hat hair when I wear a hat.
I see one small problem with it. Am I right in saying the brokers impose a timelimit on the bet. I can chart price but not time! Thankfully nor can Thom or else he would be telling us when the next meteorite is going to hit!

MD.
Keep smiling
  • #609
  • May 26, 2010 5:00pm May 26, 2010 5:00pm
Quoting Misterdaz
I see one small problem with it. Am I right in saying the brokers impose a timelimit on the bet.

MD.
Not as far as I am aware . . . I have held positions, bets, for a few days and over the weekend, have to pay to hold overnight just like "normal" trading.
20 pips a day isn't too much to ask . . .
  • #610
  • May 26, 2010 5:02pm May 26, 2010 5:02pm
Quoting Misterdaz
Oh and thanks to Raptor on pointing out GBPCHF to me last night, that was a winner.

MD.
You are welcome . . . I wouldn't go looking for a short on USDCHF tonight though, I think that one is a no hoper, SL here it comes.
20 pips a day isn't too much to ask . . .
  • #611
  • May 26, 2010 5:10pm May 26, 2010 5:10pm
Eu monthly chart... i am pretty much giving up on ever going long on anything except the dollar ever again chuckle.


TK
Attached Image (click to enlarge)
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  • #612
  • May 26, 2010 5:14pm May 26, 2010 5:14pm
Quoting RaptorUK
You are welcome . . . I wouldn't go looking for a short on USDCHF tonight though, I think that one is a no hoper, SL here it comes.
It's too obvious for me to say to you the trend is up on that one. I'd be looking for longs on it.

Good luck.

MD.

P.S Where's my indi
Keep smiling
  • #613
  • May 26, 2010 5:20pm May 26, 2010 5:20pm
Quoting ThomKnight
Eu monthly chart... i am pretty much giving up on ever going long on anything except the dollar ever again chuckle.


TK
Wow that's a pretty unorthodox chart Thom.
Keep smiling
  • #614
  • May 26, 2010 5:27pm May 26, 2010 5:27pm
Quoting Misterdaz
Wow that's a pretty unorthodox chart Thom.

? How so... looks fine to me. 0 61.8 50 38.2 and pierce.. i asume somewhere up there when price ever gets there or if... there is a sr level when just cant see it yet. Doesnt mean it isnt there.

TK
  • #615
  • May 26, 2010 5:32pm May 26, 2010 5:32pm
Quoting RaptorUK
You are welcome . . . I wouldn't go looking for a short on USDCHF tonight though, I think that one is a no hoper, SL here it comes.
Really mate... no short on USDCHF.... hmm..
  • #616
  • May 26, 2010 5:34pm May 26, 2010 5:34pm
I like this monthly cable chart, not the direction mind you. Pulled to backswing support, perfect bounce off the 138 back in 2008. Looks like we are headed back to 1.3500....and beyond I'm sure Thom will tell me. I've got 1.2200 using a 61.8. God, all sorts are possible, except 2.0000, I don't think I'm gonna see that for a loooong time, if ever!

Attached Image (click to enlarge)
Click to Enlarge Name: cable monthly.JPG Size: 104 KB


MD.
Keep smiling
  • #617
  • May 26, 2010 5:43pm May 26, 2010 5:43pm
Quoting ThomKnight
? How so... looks fine to me. 0 61.8 50 38.2 and pierce.. i asume somewhere up there when price ever gets there or if... there is a sr level when just cant see it yet. Doesnt mean it isnt there.

TK
Unfortunately I am sure you are right, it's just the way it is pulled that is odd to the eye. I have pulled down the last major monthly backswing from the high at 1.60 something looking to see where we could end up if each support goes, your 138 target is one of them.

MD.
Keep smiling
  • #618
  • Edited 7:01pm May 26, 2010 6:50pm | Edited 7:01pm
Quoting Misterdaz
I like this monthly cable chart, not the direction mind you. Pulled to backswing support, perfect bounce off the 138 back in 2008. Looks like we are headed back to 1.3500....and beyond I'm sure Thom will tell me. I've got 1.2200 using a 61.8. God, all sorts are possible, except 2.0000, I don't think I'm gonna see that for a loooong time, if ever!

Attachment

MD.
Well how i personally treat things like this... is a spot to go long... not a long forever... so i start tracking long from there. perhaps usecommon sense... everyone and there brother expects a collapse asap...so what is likely to happen... the opposite.

this will sound bonkers... but i still see 1.7
  • #619
  • May 26, 2010 9:57pm May 26, 2010 9:57pm
Depdning on how you look at this it is either a 30 point set up in the making or a great entry into a 500 pip move. Obviously the smart(quick) trade is the quick 30.

TK
Attached Image (click to enlarge)
Click to Enlarge Name: eu.gif Size: 20 KB
  • #620
  • May 26, 2010 10:13pm May 26, 2010 10:13pm
These pics speak for themselves... if i were to find myself trading this move on the 1hr chart the red line for people who are irked by rr would be my risk line mentally. On the 1 hr it picked up the 50 line after waffling and appears to be heading home after closing out the 15min 61.8 / 50 move to to the tick after the pierce.

TK
Attached Image(s) (click to enlarge)
Click to Enlarge Name: aaud1hr.gif Size: 16 KB
Click to Enlarge Name: aud15.gif Size: 18 KB
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