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  • #264,141
  • Jun 28, 2010 4:24pm Jun 28, 2010 4:24pm
Quoting grandpost
I can show you with charts what is happening Elliott.....and the fibonacci that is in the works.......This is the wave that makes the fortunes.....
Have you made your fortune yet?
  • #264,142
  • Jun 28, 2010 4:35pm Jun 28, 2010 4:35pm
id like to start sharing my analysis here, iv been watching this thread for a long time now

iv done closed my trade today
il post again when i see a new setup coming

the chart below has some small black lines to mark where i like to enter
im using the 50 ema as my trend, the 20 ema cause its pretty

i only trade the daily chart

i also wanted to say, the trend could change soon
the monthly might close as a pin bar, or dogi, whatever u call it
and the monthly is at the bottom of a nice channel, i can post a chart for that if any1 wants
Attached Image (click to enlarge)
Click to Enlarge Name: my_chart.gif Size: 12 KB
  • #264,143
  • Jun 28, 2010 4:40pm Jun 28, 2010 4:40pm
Quoting Mr J
Have you made your fortune yet?
He's not done counting yet.
  • #264,144
  • Jun 28, 2010 4:44pm Jun 28, 2010 4:44pm
It takes knowledge and experience to know if someones approach is wrong, or completely wrong.....Jhig's analysis and backing it up is completely wrong......impossible......and to any literate in finance a no...no....and you are a follower.....I leave it at there.....my advice is READ.....have fun here....but LEARN.....IMPROVE......

If you haven't STUDIED THIS you are the CROWD......Sometimes It's annoying for me to listen someone who wants to BUY in a wave 3 primary trend BEAR market......Look it up......Learn......Then they are trying to convince the rest of their victims......Great he has friends to back him up.......But being right is being part of the 5%........REad something for Gustave Le Bon....I won't have friends...and I won't have anyone to back me up and I stand alone......you win........but the analysis is WRONG, i don't know how to say this politely......eneducated analysis.....and I have nothing against the other guy......but you have childish issues...

Quoting ak4x
A Reply to Jhig...


Dude... Jhig is a highly respected trader he's on a Short List of folks I listen to, tho I may be on the other side of his trade at times... (like this one ).


You on the other hand... at this point in Time anyway, not so much....
  • #264,145
  • Jun 28, 2010 4:47pm Jun 28, 2010 4:47pm
I came out of the beating of the correction......So I will not post my account now but I will in due time to show you how to capitalize on impulse waves down.....I hope that makes you feel better about yourself....

Quoting BrutusJudas
He's not done counting yet.
  • #264,146
  • Jun 28, 2010 4:57pm Jun 28, 2010 4:57pm
Quoting grandpost
I came out of the beating of the correction......So I will not post my account now but I will in due time to show you how to capitalize on impulse waves down.....I hope that makes you feel better about yourself....
Gotta love armchair psychology.
  • #264,147
  • Jun 28, 2010 4:59pm Jun 28, 2010 4:59pm
Whatever that is

Quoting BrutusJudas
Gotta love armchair psychology.
  • #264,148
  • Jun 28, 2010 5:07pm Jun 28, 2010 5:07pm
Quoting grandpost
It takes knowledge and experience to know if someones approach is wrong, or completely wrong.....Jhig's analysis and backing it up is completely wrong......impossible......and to any literate in finance a no...no....and you are a follower.....I leave it at there.....my advice is READ.....have fun here....but LEARN.....IMPROVE......

If you haven't STUDIED THIS you are the CROWD......Sometimes It's annoying for me to listen someone who wants to BUY in a wave 3 primary trend BEAR market......Look it up......Learn......Then they are trying to convince...
Anyone who takes just about anything they read on FF with more than a grain of salt aught to have their head examined. I've seen guys on here with lot's of vouches and thousands of posts and lot's of guys praising them and I JUST KNOW that it is a complete waste of time following them! Not naming names...but the one I get a laugh out of is the guy who started the thread called nearly naked trading and it's absolutely filled with charts full of spaghetti and all sorts of crap. Pretty much the exact opposite of naked trading.

Then there is the thread started by a couple guys doing live trading. Again, lot's of vouches, lots of praise all around.....then when they had a big losing streak over a couple weeks they promptly stopped posting. Hey, losing streaks happen and I appreciated the effort and the balls to put it all out there....live. But instead of sticking with it and manning up that it happens to everyone etc. they gave some excuse about people critisizing them and some other excuses. I think now they are trying to start charging for their advice on their own site or in the commercial section or something.....lol. Where have I seen that before...again...not naming names.......lol.
  • #264,149
  • Jun 28, 2010 5:11pm Jun 28, 2010 5:11pm
Quoting EasySt
Anyone who takes just about anything they read on FF with more than a grain of salt aught to have their head examined. I've seen guys on here with 10+ vouches and thousands of posts and lot's of guys praising them and I JUST KNOW that it is a complete waste of time following them! Not naming names...but the one I get a laugh out of is the guy who started the thread called nearly naked trading and it's absolutely filled with charts full of spaghetti and all sorts of crap. Pretty much the exact opposite of naked trading.
lol

you have absolutely no idea what you are talking about. Look at Saxon's bio......the guys been around more than you ever will....If you wanna last here, show some respect or GET OUT.
  • #264,150
  • Jun 28, 2010 5:14pm Jun 28, 2010 5:14pm
Quoting BrutusJudas
Gotta love armchair psychology.
You talk to your armchair?
  • #264,151
  • Jun 28, 2010 5:19pm Jun 28, 2010 5:19pm
Quoting grandpost
.......But being right is being part of the 5%..........
There are a lot of traders that are right.

There are not a lot of traders that are profitable.
  • #264,152
  • Jun 28, 2010 5:30pm Jun 28, 2010 5:30pm
not here.....for sure.......

5% profitable and only 1% that make the millions.....I hit the 5% for 2 yrs..... now I am trying on a demo account to learn to be part of the 1%.....so ofcourse I am going to sound stupid ........using elliott and time cyles......What I have been adding to my trading is time cycles.....but at least I learn new things......My brain hasn't stopped yet......but then it needs education to be able to learn on your own....

I keep on saying I won't get caught in this ......it's funny that the only one I had to answer was not the one who posted at first...

you can trade wrong and be profitable.....

Quoting SunTrader
There are a lot of traders that are right.

There are not a lot of traders that are profitable.
  • #264,153
  • Jun 28, 2010 5:43pm Jun 28, 2010 5:43pm
Quoting grandpost
...

you can trade wrong and be profitable.....
Not consistently.

I use EW (which is only present 50% of the time BTW) but I also realize there are other ways to trade and don't disrespect others who use something else. Even if it is something I personally believe might be useless.
  • #264,154
  • Jun 28, 2010 5:48pm Jun 28, 2010 5:48pm
Quoting EasySt
...You only have to be right slightly more than 50% of the time.
That only works if you are 100%, or close to it, correct in your money/trade managment.
  • #264,155
  • Jun 28, 2010 5:49pm Jun 28, 2010 5:49pm
wtf no volatility in market ???????????
  • #264,156
  • Jun 28, 2010 5:50pm Jun 28, 2010 5:50pm
Quoting EasySt
More like statistically consistent. You only have to be right slightly more than 50% of the time.
Well, mathematically speaking, that's only true if your SL and TP is the same for each trade you took (to make profit at the end of the month, plus minus). Now if your SL is always 40p and your TP is 200p and you got it right only 1 times out of 5 times, you still win.
  • #264,157
  • Jun 28, 2010 5:57pm Jun 28, 2010 5:57pm
OK, back on topic. This article indicates that Spain's about to blow: http://www.zerohedge.com/article/spa...cing-operation

Spanish Banks In Panic Mode Over Maturity Of ECB's €442 Billion Long-Term Refinancing Operation


http://www.zerohedge.com/sites/defau.../picture-5.jpg
Submitted by Tyler Durden on 06/28/2010 16:24 -0500

As the reality of the previously discussed July 1 termination of the ECB's €442 billion LTRO is starting to dawn on Europe (for an extended observation on why this will likely be a very big deal, read here) the weakest financial markets in Europe are starting to panic. Case in point, Spain, where the FT reports local banks are fighting the ECB tooth and nail so their imperatorial nudity is not exposed for all to see: "Spanish banks have been lobbying the European Central Bank to act to ease the systemic fallout from the expiry of a €442bn ($542bn) funding programme this week, accusing the central bank of “absurd” behaviour in not renewing the scheme." The sheer terror at the impending reality of the liquidity crunch is captured nowhere better than in the words of this bank official: "Any central bank has to have the obligation to supply liquidity. But this is not the policy of the ECB. We are fighting them every day on this. It’s absurd." Keep in mind that traditionally cheery and optimistic Erik Nielsen is also very much concerned about the roll off of the LTRO and how it will impact European banks. Hold on to your hats folks: July is going to be fun.
From the FT:





Banks across the eurozone, but in Spain in particular, have found it hard in recent weeks to secure liquid funding in the commercial markets, with inter-bank funding virtually non-existent.

The €442bn ECB facility, which charges interest at a rate of 1 per cent, is not set to be renewed, something that banks in Spain and elsewhere in Europe say ignores current commercial realities.

A special offer of six-day liquidity will tide banks over until the following week’s regular offer of seven-day funds. On Wednesday, the ECB will also be offering unlimited three month liquidity, and further offers of three-month liquidity will keep banks going until at least the end of the year.


A certain side-effect, even assuming the LTRO maturity occurs without major blow ups, is the imminent collapse in the lending pool across all of Europe:





BarCap estimates that at least €150bn of the ECB funding that is maturing will not be rolled over into shorter-term three-month schemes, forcing banks to shrink their own lending.

The reasons the ECB is wary of pursuing the same policies as encouraged by our own Fed's irresponsible "infinite liquidity" approach, are virtually the same as those presented earlier today by the BIS.





ECB policymakers worry that providing cheap loans for such a long period distort markets and could restrict the room for manoeuvre in monetary policy.

As for summarizing just how bad the European (and global) situation really is, none does it better than BarCap analyst Simon Samuels: "The system is just not working. We’re approaching the third year of liquidity support and still the market cannot survive unaided."
  • #264,158
  • Jun 28, 2010 6:01pm Jun 28, 2010 6:01pm
the pattern is always there you may only catch onto it 50% of the time.....others may do much better....no disrespect for anyone's ways or methods as long as they are FROM A BOOK unless we have a GENIUS here....Now some people post analysis as I said that cannot be accepted in kindegarden technical analysis......So I just can't stop myself from telling them that there is no sound argument behind it..................The news is for the CROWD....besides this is a LEVERAGED MARKET........Technical traders STAY Out of the Market during the news and then trade in the direction of the pattern that unveils from the leaders or big dogs trading the news that's if the big dogs trade the news .....but they don't.......what you see happening at news time is the NWO testing their control over their crowd by seeing the volatility reaction to the news that they deliver so the CROWD ADHERES to the PATTERN they are CREATING.......Now it is a CRISIS cycle......That is what is called in finance........look it up......

Quoting SunTrader
Not consistently.

I use EW (which is only present 50% of the time BTW) but I also realize there are other ways to trade and don't disrespect others who use something else. Even if it is something I personally believe might be useless.
  • #264,159
  • Jun 28, 2010 6:05pm Jun 28, 2010 6:05pm
You see this happened while I was typing.........SOMEONE POSTING about NEWS.....

CRISIS CYCLE NEWS......technical analysis can tell you what the news will be like.......

We need technical for the motor to run properly......I hope 1 person understands what I am saying....


Quoting iflyjetzzz
OK, back on topic. This article indicates that Spain's about to blow: http://www.zerohedge.com/article/spa...cing-operation

Spanish Banks In Panic Mode Over Maturity Of ECB's €442 Billion Long-Term Refinancing Operation

  • #264,160
  • Jun 28, 2010 6:06pm Jun 28, 2010 6:06pm
Quoting grandpost
It takes knowledge and experience to know if someones approach is wrong, or completely wrong.....Jhig's analysis and backing it up is completely wrong......impossible......and to any literate in finance a no...no....and you are a follower.....I leave it at there.....my advice is READ.....have fun here....but LEARN.....IMPROVE......

If you haven't STUDIED THIS you are the CROWD......Sometimes It's annoying for me to listen someone who wants to BUY in a wave 3 primary trend BEAR market......Look it up......Learn......Then they are trying to convince...
I'm must be a fanned and favorited as GrandPost is keeping my name in the lime light. Thank you, finally some recognition around here.

But seriously, are you really gonna be immature to call out my method/style/approach to trading is just flat out wrong? That a pretty bold claim to make publicly seeing as you don't know who I am or exactly how I work. At the same time I don't know who you are and don't know how you work but for me to call your method of trading wrong, is a mistake on my part. Something I would never do as I know every trader has his/her method/style. There is no one way to tackle the market and if you knew that, claiming to be the experienced trader you are, you wouldn't be spewing off such negative claims against my method of trading.

By you sticking to your convictions will not change my mind about which direction/position to take in the market. You could scream to the top of your lungs and I will not change my position in the market. I think it's great you've stuck to your ideas and convictions in how you see the market but remember, not everyone trades your exact same method/style. It's wonderful you've found ElliotWaves system in assisting you entries/exits, not that know I don't trade Elliot methods, Ganns methods, Fib methods, or any other method. I trade my own method and its my own method that has gotten me to where I am today. It's ok to be open to suggestions or ideas. You later post spouting about Educating and Growing ones self but because of your short sightless in my analytics I don't believe you practice what you teach. Open yourself and ideas and i guarantee I can teach you a few things as I know you can teach me a few things. As I said, I don't trade Elliott Wave but I'm always willing to learn from a trader that may have a grasp of it.

I still hold my LONG ideas, only because it's what my trading signal tells me to do. That idea could change tomorrow as I never let myself get committed to one side of the market. I trade fluidly and let the market tell me what to go. So just, Let it go. Its ok if you let grudges go. If you want validation, here it is: You were right. I was wrong. So I hope that settles it and hope you can let it go! I would hate to put you on my ignore list as I feel you may have a lot to contribute to the thread, and I would really be interested in hearing your views on the market.

As MuddBuddha has said: If it pays the bills, then peace be with you!
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