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  • #11,761
  • Jan 31, 2011 4:24pm Jan 31, 2011 4:24pm
Quoting clockwork71
Yes, the currency futures markets have one thing Forex doesn't - volume, and that is really, really important.

I am not telling you that you can't grow an account in the spot forex, just that it should only be a small part of your overall investments.

As an example, off the top of my head I currently am:

...

The point is, I have a lot of irons in the fire - and that's how you should try to do it in my opinion.
Great last few posts, I have been silent for quite some time on FF, but I just wanted to offer my support on this topic.

First, your statement that successful traders don't hang out on FF is a very true one. We are all very lucky to have Clockwork offer his time and efforts the way he does.

Second, make sure you are at least looking at other charts in other markets to familiarize yourself with how they operate. Also, investigate multiple methods of aggregating the data that is available to aid in your trading decisions...some markets behave differently and need different methods.

Finally, make sure you are thinking for yourself. Don't take someone else's "trade-call" and try to take it yourself. Go to the charts and make your own trading decisions, more oft then not you will find yourself taking the other side of that trade.

To quote Humphrey B. Neill - "When everybody thinks alike, Everyone is likely to be wrong."

Thanks Clockwork for sticking around and teaching us how to act like a successful person - not just a successful trader.
  • #11,762
  • Jan 31, 2011 7:12pm Jan 31, 2011 7:12pm
Quoting bgin2end
Great last few posts, I have been silent for quite some time on FF, but I just wanted to offer my support on this topic....

Thanks. That's one heck of a compliment!
  • #11,763
  • Jan 31, 2011 7:25pm Jan 31, 2011 7:25pm
Noticed this one.....interesting.
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  • #11,764
  • Feb 1, 2011 2:43am Feb 1, 2011 2:43am
Quoting clockwork71
What I am paying attention to:
Are you sill in the NZDUSD trade?

2pipsfx
PRICE is Lord, King, Queen and Country
  • #11,765
  • Feb 1, 2011 10:57am Feb 1, 2011 10:57am
Quoting 2pipsfx
Are you sill in the NZDUSD trade?

2pipsfx

Yes. stop is at .7820, will probably get hit here in the next hour or so.
  • #11,766
  • Feb 1, 2011 11:19am Feb 1, 2011 11:19am
Chris and all,

I just read this re China - bit worrying really. Its a bit long but really interesting

http://www.24hgold.com/english/news-...=Jim+Willie+CB
  • #11,767
  • Feb 1, 2011 11:50am Feb 1, 2011 11:50am
Quoting stewrigh
Chris and all,

I just read this re China - bit worrying really. Its a bit long but really interesting

http://www.24hgold.com/english/news-...=Jim+Willie+CB

China is engaging in economic warfare. It comes from moves like this, and the all-out theft of intellectual property from the West. With the money they have jacked, poisoned products flow out of that country, mainly because of a serious lack of anything approaching dignity.

Anyone who thinks differently is either asleep, or blind.

There are two possible outcomes:

China either implodes from all of the corruption and fraud

The US and China finally get that war we've always seemed to be destined to.


I am betting on the first of the two - and I think it's closer than most of you realize. I have always believed that in the end - India was going to be the dominant player in the region. Better products, better education, and something approaching a reasonable legal system.

Not to mention I would take a nice curry over a Kung Pao any day!
  • #11,768
  • Feb 1, 2011 12:23pm Feb 1, 2011 12:23pm
Quoting clockwork71
China is engaging in economic warfare. It comes from moves like this, and the all-out theft of intellectual property from the West. With the money they have jacked, poisoned products flow out of that country, mainly because of a serious lack of anything approaching dignity.

Anyone who thinks differently is either asleep, or blind.

There are two possible outcomes:

China either implodes from all of the corruption and fraud

The US and China finally get that war we've always seemed to be destined to.


I am betting on the first of the two - and...
China either implodes from all of the corruption and fraud

Don't wanna be picky Chris but US seems to have managed to avoid implosion so far.
So maybe option 2 is more likely.

Think the final para is the most concerning.

Expect this trend to increase to the point that eventually the Chinese Yuan (renminbi) is a global currency with full convertibility. Later, it might serve as global reserve currency. What gives it the edge in such a role is its rise, compared to the USDollar's decline. The next decade will see the Redback (Yuan) more and the Greenback (US$) less in banks worldwide, and in trade settlement. The extreme wild card in the entire equation is eventually colonization by the Chinese elite. If they aid in government debt purchase, then hold title to property, while providing supply lines to a wide range of consumer products (someday cars too), what would prevent them from sending 100 thousand people per year to occupy abandoned homes and empty apartment buildings held under proper title? Nothing!
  • #11,769
  • Feb 1, 2011 1:27pm Feb 1, 2011 1:27pm
Quoting clockwork71
Yes. stop is at .7820, will probably get hit here in the next hour or so.
stopped out cause of minor PPZ on the daily @0.77

2pipsfx
PRICE is Lord, King, Queen and Country
  • #11,770
  • Feb 1, 2011 2:35pm Feb 1, 2011 2:35pm
A lot of areas got smashed last night... I wonder what this could mean

Looks like I'll be waiting for some retests of some of these broken areas.
  • #11,771
  • Feb 1, 2011 3:01pm Feb 1, 2011 3:01pm
Quoting clockwork71
China is engaging in economic warfare. It comes from moves like this, and the all-out theft of intellectual property from the West. With the money they have jacked, poisoned products flow out of that country, mainly because of a serious lack of anything approaching dignity.

Anyone who thinks differently is either asleep, or blind.

There are two possible outcomes:

China either implodes from all of the corruption and fraud

The US and China finally get that war we've always seemed to be destined to.


I am betting on the first of the two - and...
I agree and have always shared this thinking.

Let's have a short look at history to see what sort of states that have been successful and which have not.

Can we sort these into two groups and find some common denominators?

Tsarist Russia
China
Third Reich Germany
UK before the Civil War in the 17th century
Communist Soviet Union
Communist Cambodja
Communist Cuba
Communist North Korea
Latter part of Roman Imperial history
Vast majority of arab countries both present day and past


France after the revolution
United States
India after independence
Japan after WW2
South Korea
Sweden
Australia and other commonwealth nations
Almost all countries located in the zone of the Western culture


I make the bold claim that the second group of countries are vastly superior to those of the first group on almost all areas. Freedom of speech, life expectancy, the list goes on for as long as you like.

Notice where I placed China. Why? It has such a brilliant economy, right? They're the natural heir to the throne of world dominance... right?

My answer: Tienanmen square was but a whisper of things to come. A growing middle class, rising living standards, better educated people. All the things that mark out a rising nation are also ironically the same things that are completely incompatible with a communist dictatorship.

Remember where you first read it!
  • #11,772
  • Edited 5:30pm Feb 1, 2011 4:36pm | Edited 5:30pm
Quoting o990l6mh
I agree and have always shared this thinking.

Let's have a short look at history to see what sort of states that have been successful and which have not.

Can we sort these into two groups and find some common denominators?

Tsarist Russia
China
Third Reich Germany
UK before the Civil War in the 17th century
Communist Soviet Union
Communist Cambodja
Communist Cuba
Communist North Korea
Latter part of Roman Imperial history
Vast majority of arab countries both present day and past


France after the revolution
United States
India...
I wrote a very long response on this issue and then deleted it.

Basically while I agree China faces significant headwinds, we can't in western countries safely think that we are above the future problems.

Our penchant for political correctness and the manner in which equal rights has gone from a fantastic ideology to a draconian burden on productive society and then coupled with the massive health expenses mortgaged over the heads of this generation means we are in some deep shite ourselves.

This in conjunction with the highly undemocratic tax payer funded purchases of inordinate amounts of debt post 2007 and Lehman means we in the west are a lot poorer than we would like to believe. Main difference between us and those in the top list are those people understand how to handle a lower living standard. Most of us in the west still have no idea what is coming.

Short EU from circa 1.3875 region anyone?

4x
  • #11,773
  • Feb 1, 2011 5:46pm Feb 1, 2011 5:46pm
Quoting 4xAddict
I wrote a very long response on this issue and then deleted it.

Basically while I agree China faces significant headwinds, we can't in western countries safely think that we are above the future problems.

Our penchant for political correctness and the manner in which equal rights has gone from a fantastic ideology to a draconian burden on productive society and then coupled with the massive health expenses mortgaged over the heads of this generation means we are in some deep shite ourselves.

This in conjunction with the highly undemocratic tax...
I been looking to short EU for weeks - No more - This could go to the moon lol.
  • #11,774
  • Feb 1, 2011 6:04pm Feb 1, 2011 6:04pm
Quoting stewrigh
I been looking to short EU for weeks - No more - This could go to the moon lol.
Certainly could however I normally find that when I start accepting that there may not be a top and planning to get in long that it ends up being the top
  • #11,775
  • Feb 1, 2011 6:12pm Feb 1, 2011 6:12pm
Quoting 4xAddict
Certainly could however I normally find that when I start accepting that there may not be a top and planning to get in long that it ends up being the top
Relying on past failures to dictate future direction is a short road to BK.

Every time I capitulate, it turns out I was right, just early. Trying to keep my powder dry lately.

I suspect that if EU keeps heading north, it will be a bit more of a grind. Looks like a 400 pip "zone" to me.
  • #11,776
  • Feb 1, 2011 6:14pm Feb 1, 2011 6:14pm
Quoting 4xAddict
Certainly could however I normally find that when I start accepting that there may not be a top and planning to get in long that it ends up being the top
LOL. That got me thinking about how many times I tried to short the aussie in 2009.........WTF?
  • #11,777
  • Feb 1, 2011 9:06pm Feb 1, 2011 9:06pm
Quoting o990l6mh

My answer: Tienanmen square was but a whisper of things to come. A growing middle class, rising living standards, better educated people. All the things that mark out a rising nation are also ironically the same things that are completely incompatible with a communist dictatorship.

Remember where you first read it!
Bingo. This is the biggest problem I see. Sooner or later, a bubble in China will truly burst. (You can only build so many empty cities in Outer Mongolia for so long) Once this happens, the population - and there is a lot of that in China, will rise.

I say best of luck to them. Hopefully, in the US we will have a President that has the courage to back them right way, instead of what we got with this Egypt mess....that will certainly come back to bite us in the ass.

Chris
  • #11,778
  • Feb 1, 2011 9:08pm Feb 1, 2011 9:08pm
Quoting Low
Relying on past failures to dictate future direction is a short road to BK.

Every time I capitulate, it turns out I was right, just early. Trying to keep my powder dry lately.

I suspect that if EU keeps heading north, it will be a bit more of a grind. Looks like a 400 pip "zone" to me.
This thing is soooooo overbought.

But hey - you can only wait I guess. I sure as hell wouldn't buy it with the chart being straight up like this.
  • #11,779
  • Feb 2, 2011 2:18am Feb 2, 2011 2:18am
Quoting clockwork71
This thing is soooooo overbought.

But hey - you can only wait I guess. I sure as hell wouldn't buy it with the chart being straight up like this.
Whats the old saying - markets can stay irrational longer than we can stay solvent - 1.5/6 anyone?
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  • #11,780
  • Feb 2, 2011 2:30am Feb 2, 2011 2:30am
are we going to see 74?
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