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  • #276,801
  • Jul 31, 2010 9:50am Jul 31, 2010 9:50am
Quoting KennyZ
A little weekend reading. Real World values of various currencies.

"The latest Big Mac index suggests the euro is still overvalued."
i got another point of view of your article. the euro according to it is 16% above value verses usd. And compared the China's won, -48. for these to get to parity with the usd (big mac). if possible the better trade would be to long the Chinese won against the euro. or better yet the Swiss or Swedish krone. I said if possible. But its unlikely China will do much to elevate its currency. But even just a little could produce great results if you could trade this on a exchange.



another point is it shows how China (worlds largest population) is set to overtake Europe's (worlds) finished product exports. A product produced in China is cheap comparable. Europe still has them beat with quality but the gap is closing. When all other things are equal using the big mac formula. a widget sold in the u.s. from either is more then 50% cheaper if made in china. if compared with euros. Keep in mind MD is a u.s. company and has to make u.s. profits from franchises. When dealing with a Chinese company making widgets this is not true. So those % figures may widen more then the Big mac data. Add in China stockpiled commodities while they were cheap.


Dont think China does not have a plan. They will take over more and more industries. Europe will do like the u.s. and tear down factories. Or china will put them on a ship and send them back to china to rebuild or melt. Maybe China will buy up contracts for commodities in third world countries. Then when the local natives rise have a little security force out post to protect interest JIC. Oops this has already started. This would be a crazy mans rant if it wasn't true. It would be a naive mans demise if it is.

Life will continue and heads will remain in the sand. People (traders to their country) with vested interest will wrap up in flags and say free market. While whole countries subsidies a currency (not a free market). Sheep will follow. The big rock will turn for someones grand children. At least till it don't.

Hey this could never happen? Right?

Now lets have a nice day. good luck
those who can, do. those who cant, talk about those who can
  • #276,802
  • Jul 31, 2010 11:03am Jul 31, 2010 11:03am
Hey guys, i am back from my summer holiday...

I can see EU has hit 3092 as expected. Now we need to see a clear PA as EU can jump to 316x level or retrace
  • #276,803
  • Jul 31, 2010 11:18am Jul 31, 2010 11:18am
Quoting T@rantula
Hey guys, i am back from my summer holiday...

I can see EU has hit 3092 as expected. Now we need to see a clear PA as EU can jump to 316x level or retrace
i cant say it will not. most indis point that way. But............Still working on 1 and 2... but 3 is here.. W/O new high
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those who can, do. those who cant, talk about those who can
  • #276,804
  • Jul 31, 2010 11:42am Jul 31, 2010 11:42am
Another good reading for the weekend. This time it's from gatorinla, see post #276827 above. I found your take quite interesting too. Thanks for sharing.

Quoting gatorinla
... if possible the better trade would be to long the Chinese won against the euro...
I'm waiting for it too... I suspect they won't let us play with Won anytime soon.
  • #276,805
  • Jul 31, 2010 11:51am Jul 31, 2010 11:51am
Quoting KennyZ
I'm waiting for it too... I suspect they won't let us play with Won anytime soon.
Generations maybe.
  • #276,806
  • Jul 31, 2010 12:42pm Jul 31, 2010 12:42pm
Quoting AmeriTrini
This what happens to your brain when you take steroids, you try to trade when the market is closed.

lol.....
  • #276,807
  • Jul 31, 2010 1:51pm Jul 31, 2010 1:51pm
Quoting gatorinla
i cant say it will not. most indis point that way. But............Still working on 1 and 2... but 3 is here.. W/O new high

At Gator, Looks like a nice rising wedge by your chart.
All that is left in FF is just plain garbage. "Cloggie"
  • #276,808
  • Jul 31, 2010 1:55pm Jul 31, 2010 1:55pm
Quoting tonyo524
At Gator, Looks like a nice rising wedge by your chart.
I can wait Hardly till Sunday Candle
This week will b full of surprise LOL
  • #276,809
  • Jul 31, 2010 2:41pm Jul 31, 2010 2:41pm
Quoting egkid
I can wait Hardly till Sunday Candle
This week will b full of surprise LOL
Yes sir. How's it going EG?
All that is left in FF is just plain garbage. "Cloggie"
  • #276,810
  • Jul 31, 2010 5:20pm Jul 31, 2010 5:20pm
Sharing my Intraday trading thoughts on this pairs for the coming week based on my dynamic PA....

As it currently showing sign of retracement from its newly acquired m/t positive Trend, I am not fully convinced UNLESS Upside Trigger level13082 is retested/breached and Downside Trigger level13003 remains intact. Conversely if it wants to retrace to 12917/12865/12805 levels, then the opposite will hold true.

So my plan is to buy or sell near those levels with 20pips SL above/under those levels. And if whichever level is breached, p/b shall not be more than 35pips or it will means that PA will not be making its move yet but will be chopping/oscillating within those lower/higher Trigger levels until such time it breaks cleanly from those levels. All these understandings of PA levels will always put you in the right side of those pesky/choppy intraday trades. First initial profit from breakout is either 110pips or first signs of stalling whichever comes earlier. I will also be on a lookout for PA morphing into a rangey/consol mode which I think is likely to happen prior NFP news event.

Whether one agree or not with my take is not important at all so long as one knows and can recovers from those wrong trading decisions thus treating those losses as a "Trading Capital" with future profit potentials from timely and correctly recovery skill/understandings.

GL. cheers and have a enjoyable W/E with your loved ones.....
  • #276,811
  • Aug 1, 2010 12:25am Aug 1, 2010 12:25am
Quoting KennyZ
Another good reading for the weekend. This time it's from gatorinla, see post #276827 above. I found your take quite interesting too. Thanks for sharing.



I'm waiting for it too... I suspect they won't let us play with Won anytime soon.
did i mention china bought all the surplus subs and war ships the former soviet union would sell them? Will they melt them or float them?

I remember reading a story once about a little country based on a volcano. Attacking another country, at one of its volcanoes. Anyway, a small country attacked a bigger one, with commodities it bought and stock piled from the bigger one (it was hard times and it was a good trading relationship prier to attack). The bigger country was busy worrying about its bad economy. so they didnt see it coming. At the time there was another war going on in a far away place that had its attention. It seems both of these countries wanted oil and the bigger one shut the valve on the smaller one. So the smaller one attacked the larger one. Then some others got involved and they met all over the world. In the places where commodities could be found (Africa/ME etc.) . Anyway shit happens sometimes. Pull out the lies in this post and put the few facts in the back of you mind when viewing the world. A cautious man gets laid less then a non-cautious one. Well that's unless the non-cautious one has a shorter lifespan all things equal.

All fiction from Billy Mitchel. A man ahead of his time. Could he be a man behind his time? He is still my hero.

Rant over. back to meds.
those who can, do. those who cant, talk about those who can
  • #276,812
  • Edited 1:43am Aug 1, 2010 12:55am | Edited 1:43am
Quoting gatorinla
All fiction from Billy Mitchel.

He is still my hero.
You and me both brother...

Amero out... (( like it was ever "in" except on Talk Radio ...)) gold backed "Remin-llar" in. ((or maybe Doll-imbi...? Nahhhh... )

Give it a few years...
FUBAR...
  • #276,813
  • Aug 1, 2010 12:56am Aug 1, 2010 12:56am
I agree with bskwak1124, DO NOT SCALP if you are a beginner, trade daily, and trade support and resistance with no more than one indicator that will give you the market momentum such as sto. When you trade, place your limit and stop and leave, do not set behind the computer and watch your money, it is the biggest mistake. Finally, trade with the trend, place the 200 moving average on your chart, if the price is under the 200 moving average, look for shorting opportunities ( such as shorting on pull-backs) and vs versa, the odds will be on your side. Good luck!
  • #276,814
  • Aug 1, 2010 3:30am Aug 1, 2010 3:30am
..
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  • #276,815
  • Aug 1, 2010 3:56am Aug 1, 2010 3:56am
Quoting scalaada
I agree with bskwak1124, DO NOT SCALP if you are a beginner, trade daily, and trade support and resistance with no more than one indicator that will give you the market momentum such as sto. When you trade, place your limit and stop and leave, do not set behind the computer and watch your money, it is the biggest mistake. Finally, trade with the trend, place the 200 moving average on your chart, if the price is under the 200 moving average, look for shorting opportunities ( such as shorting on pull-backs) and vs versa, the odds will be on your side....
Thanks , very good advice & seems you not a beginner.and just add some , no overtrading , can take twice in a single move not 3rd as usally suck,
wait for good entries before the bet starts & select possible exits for thaose entries specific and never do wity much confidence , often exact levels not hit .
Give amples of spaces to play pa , so the sl at remote safe place without risking hit unneccessary,
Learn basic pa as to how it may move anytime ,
watch news those can change anything anytime , beginners better avoid trading while there are nearer any important ones ,

and last money management , only bet what you afford to loose anytime but does not mean 50/50 bet , do or die, better avoid taking this , do for win only though everybody knows any trade can go wrong for every traders in the world anytime .

Still if all the analyses are correct , movements correctly happen , one may even loose money without proper entry,exit & sl & lots size ,frequency . so play more and more to have the experience for correct ones will all need in time .

fontu
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #276,816
  • Aug 1, 2010 4:50am Aug 1, 2010 4:50am
Quoting gatorinla
did i mention china bought all the surplus subs and war ships the former soviet union would sell them? Will they melt them or float them?

I remember reading a story once about a little country based on a volcano. Attacking another country, at one of its volcanoes....

interesting view of the world - but I still think, that China at the moment is doing better if they resolve their own problems in China - like the big spread between the poor and the rich people, if they aren't carefully they are risking to get a civil war...
Pecunia non olet
  • #276,817
  • Aug 1, 2010 5:48am Aug 1, 2010 5:48am
It's my first post here, as I am just a 10-min junior member, but I've been watching your chat for a couple of weeks...most interesting, I could say...

Scrolling back the pages I saw SISSE's 276613 post, with a very impressive chart. I wish I could draw such a convenient and effective chart, but on the MT4 platform its very difficult to make and arrange all these notes. As far as I know, there is not a tool like a "text-frame" moving along with the price.
Can you, SISSE, tell me more about your nice board?
Hello, and Good month
  • #276,818
  • Aug 1, 2010 7:28am Aug 1, 2010 7:28am
I'm still not happy they won't let me change my username. But anyway, here's some delicious charts you can drool on.
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  • #276,819
  • Aug 1, 2010 7:29am Aug 1, 2010 7:29am
can i ask anyone where the Inverted H&S on the daily chart is completed? I have a price projection of 598 pips at the broken neckline which should complete the pattern at 3050. Sorry i can't post a chart right this second as i'm writing from my iphone... does anyone else have a different price level here?

thanks
  • #276,820
  • Aug 1, 2010 7:43am Aug 1, 2010 7:43am
Quoting jaylovin
can i ask anyone where the Inverted H&S on the daily chart is completed? I have a price projection of 598 pips at the broken neckline which should complete the pattern at 3050. Sorry i can't post a chart right this second as i'm writing from my iphone... does anyone else have a different price level here?

thanks
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