Good Morning fti!
thanx for headsup and your yesterday "pakistan link".
Was not aware of that crisis ....
Technical Analysis Fallacy
- #21,182
- Jan 4, 2011 11:56pm Jan 4, 2011 11:56pm
- Joined Nov 2007 | Status: Trader | 19,782 Posts
Juts for info:
It may serve as a good summary of the market moves till now ...
[indent][03:15 GMT Jan o5] The EUR/USD opened the Asian session close to the US session at 1.3308 after getting sold off during the US session when the USD broadly moved higher in line with a steep correction lower in commodity prices. The EUR/USD jumped to 1.3325 on a Bloomberg headline quoting a Chinese official saying China was likely to buy more Spanish debt, but fell below 1.3300 on a second headline saying further purchases depended on market conditions....
this year watching out for panda in europe and if buba want come out to rescue the euro. panda needs diversify her markets, euro takes center stage.regards
- #21,183
- Jan 5, 2011 12:01am Jan 5, 2011 12:01am
- Joined Oct 2007 | Status: Trader | 4,269 Posts
regards
Yeah - since we faced the greek "surprise" last year here in EURO zone I'm very sensible for such type of news. Maybe I should start to learn chinese language just right now. Would be easier to make the negotiations with chinese poeple about my credit for my next car then
- #21,184
- Jan 5, 2011 12:08am Jan 5, 2011 12:08am
Good Morning Friends!
Seems the FOMC minutes have been a real non-event.
Eu has not much moved since it's release.
Ok, will do my daily morning preparation now.
Hope to see yoiu in the markets...
MaMood
if i may ask, how do u start or prepare for your trade every day? how much is your personal daily profit target in % ? i noticed that u can get 50% in some of your trading session. that is very impressive !
thanks in advance
- #21,186
- Jan 5, 2011 12:15am Jan 5, 2011 12:15am
- Joined Nov 2007 | Status: Trader | 19,782 Posts
Yeah - since we faced the greek "surprise" last year here in EURO zone I'm very sensible for such type of news. Maybe I should start to learn chinese language just right now. Would be easier to make the negotiations with chinese poeple about my credit for my next car then
You may be in for a surprise.Many speak excellent english. But if you can speak Putong Hua, then the Quan Si(relationship) is better. May just get slightly better rates.
regards
- #21,187
- Jan 5, 2011 12:21am Jan 5, 2011 12:21am
- Joined Oct 2007 | Status: Trader | 4,269 Posts
mr mamood...i download all your trading session attachments and i get impressed by your trading results. really hope that i can trade like u someday. u seem already master very well what sifu fti presented here.
if i may ask, how do u start or prepare for your trade every day? how much is your personal daily profit target in % ? i noticed that u can get 50% in some of your trading session. that is very impressive !
thanks in advance
please just say MaMood or much better Niels, cuase it is my first name.
Mr. MaMood sounds somehow unexpected to my ears :-)
thanx for your kind words - but you mentioned some of my statements and I have to say I'm not very proud of it. My MO has changed a little since then, much more close to fti's teachings now. But what I have done was neccessary to overcome some of my scorpions. Namely fear and greed. And I know I have still a long long way to go (after starting with absorbing fti's teaching in jan 2008)...
My daily preparation could be summarized as "exploring the terrain".
I do my chartwork and scanning the news feeds for relevant info, to get in tune with the markets sentiment. With my chartwork I'll try to identify interesting price areas and to determine my bias for starting my trading day. This bias is not fixed ad can change very fast, when my lady tells me some insights (means, when I'm able to identify some impulsive moves against my bias).
Very important: In my gaily real money trading I do not go for any predefined goals. I dance with the market and try to preserve my book. At the end of the day I'm very happy, when i was able to book some profits. If you are relating to some of my past postings, when I mentioned a daily goal, this postings are related to a trading challenge I'm taking part till end of Feb. Their rules are forceing me to go for a daily goal, cause they want to see a very constant grow of account. But that way of trading does not fit very well with fti's MO ...
Have to leave now for a short breakfast with family.
If you have some more questions, feel free to ask.
Will answer later.
Cu,
Niels
- #21,188
- Jan 5, 2011 12:22am Jan 5, 2011 12:22am
- Joined Oct 2007 | Status: Trader | 4,269 Posts
Many speak excellent english. But if you can speak Putong Hua, then the Quan Si(relationship) is better. May just get slightly better rates.
regards
That's what I was pondering about
- #21,189
- Jan 5, 2011 12:41am Jan 5, 2011 12:41am
- Joined Nov 2007 | Status: Trader | 19,782 Posts
That's what I was pondering about
i would try start 75%. A good starting textbook. "Everything is Negotiable" [Paperback]A must read training basic text for dealers.
- #21,190
- Jan 5, 2011 12:54am Jan 5, 2011 12:54am
- Joined Oct 2007 | Status: Trader | 4,269 Posts
but normally , if i not too mistaken, to do business with china, need learn bargain. Starts from 50 % minimun.
A must read training basic text for dealers.
But 75% as a starting point is quite a different level (at least here in good old, but narrow-minded germany).
- #21,191
- Edited 1:15am Jan 5, 2011 1:00am | Edited 1:15am
- Joined Nov 2007 | Status: Trader | 19,782 Posts
Oooh - I'm not that bad in bargaining.
But 75% as a starting point is quite a different level (at least here in good old, but narrow-minded germany).
thats supposed to be near fair value. If you know cost, then you start at fair value.there is such thing as business value and consumer value. Generally peeps only know consumer value. If you know business value, then you are business man, otherwise you just consumer.
Businessmen trade stocks always buy IPO, consumers buy market= NTA+premium+goodwill. where you think market bubbles come from?
What do you think is old name for businessmen?
TRADERS.
Dealers are peeps who know real cost. Some dealers have better "economies of scale" than others. Thats why have tiers
- #21,194
- Jan 5, 2011 1:19am Jan 5, 2011 1:19am
- Joined Nov 2007 | Status: Trader | 19,782 Posts
speaking of scorpions and fear mamood, I just read over the part where fti mentioned that the book size after seniors failed to go with the trend was 20,20,40 (20x of juniors..could be even bigger if juniors held more than 1,1,2)...scaaarrryyyyy!
making profits without risk. Yeah, that would be the holy grail.regards
- #21,195
- Jan 5, 2011 1:21am Jan 5, 2011 1:21am
Hi paranorms,
please just say MaMood or much better Niels, cuase it is my first name.
Mr. MaMood sounds somehow unexpected to my ears :-)
thanx for your kind words - but you mentioned some of my statements and I have to say I'm not very proud of it. My MO has changed a little since then, much more close to fti's teachings now. But what I have done was neccessary to overcome some of my scorpions. Namely fear and greed. And I know I have still a long long way to go (after starting with absorbing fti's teaching in jan 2008)...
My daily...
about this :
Their rules are forceing me to go for a daily goal, cause they want to see a very constant grow of account. But that way of trading does not fit very well with fti's MO ...
could you please elaborate more?
thanks
- #21,196
- Jan 5, 2011 1:25am Jan 5, 2011 1:25am
- Joined Oct 2007 | Status: Trader | 4,269 Posts
mindset
[...]
What do you think is old name for businessmen?
TRADERS.
Dealers are peeps who know real cost. Some dealers have better "economies of scale" than others. Thats why have tiers
I always adore your ability to explain everything in simple and straight to the brain going words ...
BTW: there is a vey good indonesian restaurant here in Munich called "Traders Vics". Good foods and excellent drinks.
I tend to visit it from time to time after very good trading days ....
Anyone located near to me to join in sometime in the future?
Niels
- #21,197
- Jan 5, 2011 1:41am Jan 5, 2011 1:41am
- Joined Oct 2007 | Status: Trader | 4,269 Posts
ok Niels, no MR hehe...thanks a lot for the explanation, sure it will give me some good idea in my trading. really glad that i join this forum where so many good friends supporting each other, especially the sifu.
about this :
Their rules are forceing me to go for a daily goal, cause they want to see a very constant grow of account. But that way of trading does not fit very well with fti's MO ...
could you please elaborate more?
thanks
In the contest I have to go for exact x.y% profit per day. And exact means that I have to reach the goal exact to the dollar. It is not an advantage for my ranking to make even some dollars more.
fti's MO does not focus on a daily goal. Doing so is vey rigid and may lead to very bad habbits.
Dancing the market means, that you should take all the opportunities your lady offers to you. Be very nimble and careful as long as she is not very clear in disclosing some insights to you. But as soon as you have a clear idea of the dance and you are in sync with momentum, attack hard and ride the move down to it's fullest. But please stay always inside your own levels of risk (account size) and pain. Don't be reckless ...
But doing so will basically not deliver a constant result day in day out exact to the dollar. The challenge MO forces me sometimes to "press some blood out of stone" - not very wise ....
Hope I was able to make it a little more clear.
Let's focus on London opening now.
Wish you all a great trading day!
Niels
- #21,198
- Edited 2:03am Jan 5, 2011 1:51am | Edited 2:03am
- Joined Nov 2007 | Status: Trader | 19,782 Posts
careful
cable either meet something scary again or is hyper.
pakst seems little impact in the now
hearing our friends from swis again and dating panda.
OMG, more suitors
they reading thread?
cable either meet something scary again or is hyper.
pakst seems little impact in the now
hearing our friends from swis again and dating panda.
OMG, more suitors
they reading thread?
- #21,200
- Edited 2:13am Jan 5, 2011 2:03am | Edited 2:13am
- Joined Nov 2007 | Status: Trader | 19,782 Posts