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  • #260,361
  • Jun 20, 2010 2:45am Jun 20, 2010 2:45am
Quoting Skylar Locke
How do you define extreme highs and extreme lows?
I can't but they seem to stand out on the charts.

Quote
It just sounds to me that you are trying to pick tops and bottoms, which is never a good idea. It might work for a while, but it's the fastest way to blow your account.

At certain times, with certain pairs, yes I do.

I do appreciate your reply.
  • #260,362
  • Jun 20, 2010 2:46am Jun 20, 2010 2:46am
I'd say it's the same. "Borrowing" in EU vocabulary equals to "generate" new emissions of state obligations, which is printing money.


Quoting Bootleger
Well printing money is worse than borrowing. Printing money has always led to inflation. At least, European countries can't print money! That's way better. How can a country be able to print so much of the reserve currency of the world ?

United States can print as much money they want but look at countries like Zimbabwe of before, Weimar Republic. That's what happens when your printing money like a fool. Furthermorea,...
  • #260,363
  • Jun 20, 2010 3:02am Jun 20, 2010 3:02am
Quoting Bootleger
United States can print as much money they want but look at countries like Zimbabwe...

Just my 2 cents
You're actually comparing Zimbabwe to the US in the same sentence? Seriously?

Sorry, but I think 2 cents is a bit overpriced for that non-Cents.

...Might work if this was an "edited for effect" soundbyte on the 6:00 pm news targeted for the Mesmerized Masses but if you want to be taken seriously here instead of regurgitating something you've maybe read on bloomberg, you'll have to do better than that....

Zimbabwe...
https://www.cia.gov/library/publicat...k/geos/zi.html

USA...
https://www.cia.gov/library/publicat...k/geos/us.html


Do we (USA) have problems...? Most definitely YES... (Ceasing from bailing out the World might reduce them but then we wouldn't be America anymore...)

Are we in the same pickle as Zimbabwe? No

Will we ever be? No ((And 'if' we ever are, it will have already been the End of the World as you/we knew it...)


Your point again..........?

Now Convince me I'm actually wrong on the above two statements or....
FUBAR...
  • #260,364
  • Jun 20, 2010 3:10am Jun 20, 2010 3:10am
Quoting Bootleger
Well printing money is worse than borrowing. Printing money has always led to inflation. At least, European countries can't print money! That's way better. How can a country be able to print so much of the reserve currency of the world ?
No it's not. Printing money is better than borrowing. Listen, if the USA gets into a debt problem, it can deflate it's currency (which leads to inflation, like you said). But borrowing money and getting into trouble leads to bankruptcy AND a weaker currency. There is simply no comparison.

Quote
United States can print as much money they want but look at countries like Zimbabwe of before, Weimar Republic. That's what happens when your printing money like a fool. Furthermorea, the currency crisis that is coming will hurt the USD and the USA. Prepare yourself !

Yeah, or compare that to bankrupt nations of yesterdecades. Printing money is a much better option. By the way, don't you realize that the European Union actually does BOTH? It's the worst of both worlds. The ECB prints the money, and Greece borrows it. That leads to bankruptcies, restructured debt, and an inflated currency! Booya.

Quote
I'm not saying that the Eurozone doesn't have any problems, but it will take many years before it really goes bad. I mean the USA are really closer to the edge of the cliff if I compare them to the Eurozone.

Just my 2 cents

Your two cents is about as valuable as two grains of sand in a desert.
  • #260,365
  • Jun 20, 2010 3:18am Jun 20, 2010 3:18am
Quoting klinckphilip
How many of you watch every pair to see what is in the action at the moment? Do you trade every pair?
Do you have some favorites?
If you do trade lots of currencies, how do you find the ones that are moving? And how do you find them before the move is over?
I set up bolinger bands to determine entry and exit - are the candles getting closer to the upper or lower band? enter on the third candle after a band is hit in the new direction -and I have the Parabolic SAR on for confirmation. Watch out for whipsaws though, you can be misled by them, that is why you refrain until the opening of the third candle in the intended direction before you enter. In a strong trend, whose strenght you can confirm from your ADX indicator, if you enter in the direction of the trade anywhere before the mean line of the bolinger is crossed you can still get good room to rake in some desent profit.

Believe this at your own risk
Believe me at your own risk. I did not make you lose money.
  • #260,366
  • Jun 20, 2010 3:45am Jun 20, 2010 3:45am
Quoting Skylar Locke
How do you define extreme highs and extreme lows?

It just sounds to me that you are trying to pick tops and bottoms, which is never a good idea. It might work for a while, but it's the fastest way to blow your account.

Just trade with the trend, apply proper money management, use a confirmation filter, and that's all you need for a winning strategy.
A proper mix of both methods saves the day most times, at least you have some cash flow
Believe me at your own risk. I did not make you lose money.
  • #260,367
  • Jun 20, 2010 3:48am Jun 20, 2010 3:48am
I am bullish (charts here) bias for the week until my charts prove otherwise.

Have a safe trading week
Attached Image
  • #260,368
  • Jun 20, 2010 3:55am Jun 20, 2010 3:55am
looks like there'll be a GAP down. Already 25 pips down from the spot market.
  • #260,369
  • Jun 20, 2010 4:31am Jun 20, 2010 4:31am
Quoting DudeSepii
looks like there'll be a GAP down. Already 25 pips down from the spot market.
may jump back but if it does gap down then lovely.. i can re enter from 2345
  • #260,370
  • Jun 20, 2010 4:55am Jun 20, 2010 4:55am
Quoting TheWalrus
No it's not. Printing money is better than borrowing. Listen, if the USA gets into a debt problem, it can deflate it's currency (which leads to inflation, like you said). But borrowing money and getting into trouble leads to bankruptcy AND a weaker currency. There is simply no comparison.



Yeah, or compare that to bankrupt nations of yesterdecades. Printing money is a much better option. By the way, don't you realize that the European Union actually does BOTH? It's the worst of both worlds. The ECB prints the money, and Greece borrows it. That...
so this weekendabout printing money .Yes every national doing the same as to maintain the supply as oer demand if they have the right to do that that within their own capacity & when this ponzi scheme reached the threshold that further printing really worsen the health of econnomy then only to bankrupt the country as whole , greece may the example now .

Anyway the more the capacity of tolerance or still not reached the firing level of bankrupt can print more & more money like US doing & supply more with virtually les value day by day though dominating all other currencies right now can't print that much & becoming more vulnerable to further detrioration.because dollar as though of actual less in value , you will find when go market to shop anything with it ,but now able to buy more costly assets pricing in other currencies of higher values before or still some high at much better pricing in dollar now and other currencies can't print much or at the same race with less demand also becoming less circulation than dollar is or will .

Though not know more about but seems great winding the dollar carry trade in action now . and this ponzi will end one day for sure .

Not any economist or know anything about , just intuition out of general knowledge .
fontu
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #260,371
  • Jun 20, 2010 5:00am Jun 20, 2010 5:00am
Quoting DudeSepii
looks like there'll be a GAP down. Already 25 pips down from the spot market.
Ok too if so by the time market open & to me like more down before the up , tl one at the top where price stopped , may not same though for all , some I see 1.2393.
fontu
Attached Image
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #260,372
  • Jun 20, 2010 7:09am Jun 20, 2010 7:09am
Quoting Skylar Locke
How do you define extreme highs and extreme lows?
Throw a stochastic oscillator on the 4 hour or daily chart. Easy money.
  • #260,373
  • Jun 20, 2010 7:59am Jun 20, 2010 7:59am
Quoting PipVip
Throw a stochastic oscillator on the 4 hour or daily chart. Easy money.
There is no such thing as easy money......I never base any of my trades solely off OB OS range on the stoch. I only use it as an additional confirmation. Those oscillators will stay at extremes forever if price dictates it. Also, those indis are lagging indicators, meaning that they are just historical numbers bascially. Oscillators don't guide where prices will go, price guides the oscillator.

Ok throw a stoch like you said on a 4h or daily, look how many times you would have lost if you bought when the prices reached OB OS status (assuming you're using a 100pip stop/100 pip tgt)....If you are not using these oscillators in the correct fashion with the correct settings for the TF you are using them on, then they will do more harm than good. I see a lot of traders just throwing indis on their chart and using them in all the wrong ways only to loose and say "Why did I just loose? The indicator said it was so?......" Most indicators can only be used in a strong trend and any type of ranging that occurs will severly distort the oscillator giving false signals. For example, this last weeks cover rally really distorted my stoch and If I would have traded with emphasis on that indi I would have had 3, maybe 4 losing trades, but since I did not use that indi last week I had 1 winner and 1 loser. So you can see, knowing how to use these tools can dramatically cut your losses.
  • #260,374
  • Jun 20, 2010 8:44am Jun 20, 2010 8:44am
Quoting mfoste1
Those oscillators will stay at extremes forever if price dictates it.
Money is made by sitting, not trading. Jesse L. Livermore
  • #260,375
  • Jun 20, 2010 9:09am Jun 20, 2010 9:09am
Quoting ak4x
You're actually comparing Zimbabwe to the US in the same sentence? Seriously?

Sorry, but I think 2 cents is a bit overpriced for that non-Cents.

...Might work if this was an "edited for effect" soundbyte on the 6:00 pm news targeted for the Mesmerized Masses but if you want to be taken seriously here instead of regurgitating something you've maybe read on bloomberg, you'll have to do better than that....

Zimbabwe...
https://www.cia.gov/library/publicat...k/geos/zi.html

USA...
https://www.cia.gov/library/publicat...k/geos/us.html...
you could go back to pre ww2. last time Germany (ezb this time) printed money too. 1 wheel barrel full= 1 loaf of bread. then a war. 2010 wash rinse repeat.
those who can, do. those who cant, talk about those who can
  • #260,376
  • Jun 20, 2010 9:24am Jun 20, 2010 9:24am
Quoting gatorinla
you could go back to pre ww2. last time Germany (ezb this time) printed money too. 1 wheel barrel full= 1 loaf of bread. then a war. 2010 wash rinse repeat.
By November 1923, In Germany, one Dollar would buy you one trillion Marks...


Talk about cheap toilet paper
Getting it right is NOT as important as not getting it wrong.
  • #260,377
  • Jun 20, 2010 9:28am Jun 20, 2010 9:28am
Interesting news from China, definitely. Combine this with some other rumors and statements coming from other BRIC leaders and you get an interesting picture. First we have last year's calls for a new world reserve currency, during the sharp dollar decline. Then we have massive diversification into gold and other assets. Now we had a euro decline. And last week Medvedev is on the wires, talking about the rouble becoming a new major currency and Russia becoming a financial center. We have general BRIC calls for a new reserve currency. And now the PBOC comes up with a vague statement along the lines that "the yuan is going to gain". I wonder now, what could be hidden in the detail. Can this be the beginning of a more convergent path for the BRIC countires with the Chinese yuan as the backbone new reserve currency? After all, we have to admit it, it makes sense in a world where a good 1/5th of the global population and the biggest industrial production and trade back the Yuans.

It is good to note that the mechanism by which China kept the Yuan undervalued was by buying dollars against it. If that ceases to be the case, it can be a dollar negative. Also while it could lead to an immediate rally in global and mostly US equity, it is a longer term negative for the US economy. Why? Because US industrial output indicators have been lagging badly during the "recovery" and there really isn't enough consumer spending to justify the benefit of such a move. So in total we have the US gaining little or no competitive advantage and on the other hand China gaining excellent long term positions and the possibility to push for the Yuan's status as a world currency. And possibly a tighter BRIC economic union?
  • #260,378
  • Jun 20, 2010 9:50am Jun 20, 2010 9:50am
Quoting gatorinla
you could go back to pre ww2. last time Germany (ezb this time) printed money too. 1 wheel barrel full= 1 loaf of bread. then a war. 2010 wash rinse repeat.
You're comparing 1920's Germany, who was absolutely devastated after world war AND living through a global depression of unprecedented scale, to a global superpower with financial resources and power up the ass?

Interesting
  • #260,379
  • Jun 20, 2010 10:11am Jun 20, 2010 10:11am
Looks like the Yuan announcement is really convenient just a week before the G20, where Yuan was to be flagged as a global problem...

We'll see how determined the Chinese really are, after the G20.

Smoke and mirrors ?
Getting it right is NOT as important as not getting it wrong.
  • #260,380
  • Jun 20, 2010 10:16am Jun 20, 2010 10:16am
Quoting Bootleger
Still the momentum is up now, we might see a stabilization this week before a new pop up. . Euro/USD is bullish, US Dollar is struggling hard. There is no good news in the US. The only thing coming is printing money and printing money. This is not sustainable and far worse than the situation in Europe. Watch your back when the USD$ loses 5%,10% and + intraday. It will happen one day before you get your eyes opened.

For those who owns a lot of USD and even other currencies, buy gold and silver to protect yourself !
The US isn't the only country and currency with problems. Your posts suggest a similar view to the many dollar bears who got pounded throughout the latter part of the past decade. Do you care to consider economic climate? When and if we have the double dip, where do you think money will flow?
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