So how was this week pipwise people, anyone really really happy or really really sad
- #385,321
- Feb 12, 2011 4:15pm Feb 12, 2011 4:15pm
- | Joined Feb 2009 | Status: Trader | 1,626 Posts
- #385,323
- Feb 12, 2011 4:26pm Feb 12, 2011 4:26pm
- Joined May 2009 | Status: Re-member | 6,497 Posts
Averaging 2 x risk for the month so far.. so I guess you could say all is good
See how much better and less you traded on the 9th and 10th...
- #385,324
- Feb 12, 2011 4:30pm Feb 12, 2011 4:30pm
- Joined Feb 2009 | Status: Half in the Bag | 17,827 Posts
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
- #385,325
- Feb 12, 2011 4:37pm Feb 12, 2011 4:37pm
- Joined May 2009 | Status: Re-member | 6,497 Posts
Well dude, there is something to be said for, "It", all being in the delivery, and sadly, for a chart that promised to pop eyeballs out of sockets, this one has Failed miserably in that department.
Not only does it have a decent set of hooters, it barely has teeth enough to take on a can of pudding...
Maybe one of us needs to take a moment to refresh ourselves on the rules of the BEARISH ENGULFING CANDLE department, and I am pretty sure, it ain't me that needs this...
Since we are on the subject of EU, and bearish engulfing candles, let's...
Well said Magix, very long post but came to the point in the end
Did you talk about a bank that tried the average down system, that didn't work? Trying to google it but nothing comes up... would be interesting to read
- #385,326
- Feb 12, 2011 4:40pm Feb 12, 2011 4:40pm
- Joined Apr 2007 | Status: HARD SHYT SCUBA TRADER | 20,886 Posts
not much selling this week at all really...
bag holding is what this is called in vsa
all of the volume has been on down bars and next bar up ... = buyers not seller
Note when price drops happened = asia when no one home , just pros discounting prices
bag holding is what this is called in vsa
all of the volume has been on down bars and next bar up ... = buyers not seller
Note when price drops happened = asia when no one home , just pros discounting prices
interesting chart malc... i am not too familiar with vsa so i won't comment but if it works for you then great!
however just watching PA this past week - there are some heavy sellers entering the market... the daily chart showing a drop from 38 to 35 then retracing back to 3750 is personally telling me people are exiting from their long positions and entering short at a higher price..
this is just speaking from PA pov from me personally - i could be wrong.. but next week will hopefully give us an answer as to what the market wants to do......
Blogging daily now at www.volume.zone
- #385,327
- Feb 12, 2011 4:41pm Feb 12, 2011 4:41pm
- Joined Feb 2009 | Status: Half in the Bag | 17,827 Posts
Well said Magix, very long post but came to the point in the end
Did you talk about a bank that tried the average down system, that didn't work? Trying to google it but nothing comes up... would be interesting to read
I recognize things on a chart, throw them things into words and it gets a little muddled...
I can tech the hell out of a chart, but fundamentally I am a squishy blowing bubbles in my spit.
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
- #385,329
- Feb 12, 2011 4:45pm Feb 12, 2011 4:45pm
- Joined Feb 2009 | Status: Half in the Bag | 17,827 Posts
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
- #385,330
- Feb 12, 2011 4:51pm Feb 12, 2011 4:51pm
- Joined May 2009 | Status: Re-member | 6,497 Posts
Nope...that wasn't me...
I recognize things on a chart, throw them things into words and it gets a little muddled...
I can tech the hell out of a chart, but fundamentally I am a squishy blowing bubbles in my spit.
Muddled is good, thats how the market really is so makes more sense for you then
- #385,331
- Feb 12, 2011 4:51pm Feb 12, 2011 4:51pm
- Joined Apr 2007 | Status: HARD SHYT SCUBA TRADER | 20,886 Posts
Blogging daily now at www.volume.zone
- #385,332
- Feb 12, 2011 4:51pm Feb 12, 2011 4:51pm
- Joined Oct 2009 | Status: Trader | 15,211 Posts
Did you talk about a bank that tried the average down system, that didn't work? Trying to google it but nothing comes up... would be interesting to read
Retailers love to spout rubbish here how adding to losing positions will eventually turn around.
The big ones to research why it never works are LTCM (a couple of billion that almost brought Wall ST down. Barings (brought the bank down) Sumitomo (2 Bn or so) Rusnak (he added to his losses for years and got found out at 800Mln in the hole) Bawag (8 years of adding to losses in FX actually, blown up at 1.5Bn) and then my alltime favorite, Hubler over at Morgan (9 Bn by the time it blew up by adding to losing CDS's)
There will always be plenty that ignore history and think they are smarter then the 1,000's before them that failed in this. What makes the average retail muppet here think they are smarter then some of the best traders out there?
- #385,336
- Feb 12, 2011 5:03pm Feb 12, 2011 5:03pm
- Joined Jan 2010 | Status: Trader | 2,841 Posts
not much selling this week at all really...
bag holding is what this is called in vsa
all of the volume has been on down bars and next bar up ... = buyers not seller
Note when price drops happened = asia when no one home , just pros discounting prices
Attachment
euro lost all the gains it made from monday by friday... i thought volume on down bars meant sellers... or least ore selling pressure over buying...
also regarding the price dropping - london start made the biggest bear candle of the day... - asia dropped 52 pips and london over 100... USA session bought it up... then asia and london dropped it again the following day...
now its 2 against one...
all the best...
- #385,337
- Feb 12, 2011 5:05pm Feb 12, 2011 5:05pm
- Joined Apr 2007 | Status: HARD SHYT SCUBA TRADER | 20,886 Posts
all I know is that those bars marked are not selling ..
gap down in asia Monday even more lovely.
GU watch that puppy rip up
gap down in asia Monday even more lovely.
GU watch that puppy rip up
Whiskey Tango Foxtrot???
Price made it back to highs as China came back into play after the 10 days of New Years celebration...
Once at them levels, dropped...
Ain't what I consider bagholding, more what I would consider, giving the Chinese a chance at loading the boat for a ride down the river...
If we opened back with China at bottom, and then were buying up, I would say you had a little merit to your theory...but that ain't what happened at all...
Blogging daily now at www.volume.zone
- #385,340
- Feb 12, 2011 5:12pm Feb 12, 2011 5:12pm
- Joined Apr 2007 | Status: HARD SHYT SCUBA TRADER | 20,886 Posts
biggest misconception out there and the thing that will lose retailers the most money
Pros buy weakness and sell strength always. Typically the news will be bad as at can be ...
point in case .. BP ... well did not hold ....the bar marked was this day . I doubt that the well did not hold .. just news said it did. That day was highest volume down day in history of bp and has not looked back since
Attachment
Pros buy weakness and sell strength always. Typically the news will be bad as at can be ...
point in case .. BP ... well did not hold ....the bar marked was this day . I doubt that the well did not hold .. just news said it did. That day was highest volume down day in history of bp and has not looked back since
Attachment
euro lost all the gains it made on monday by friday... i thought volume on down bars meant sellers... or least ore selling pressure over buying...
also regarding the price dropping - london start made the biggest bear candle of the day... and carried it on... USA session bought it up... then asia and london dropped it again the following day...
now its 2 against one...
all the best...
Blogging daily now at www.volume.zone