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Silent Service Method

  • #12,021
  • Mar 13, 2011 3:55pm Mar 13, 2011 3:55pm
Quoting clockwork71
Check it out...what I like about the idea of a long here is that it has distinct levels to watch...however, this won't be a quick trade if it works out. It will be a slow grind.
I like this trade too Chris.

Took a long on the GBPUSD last Friday and closed half +80 pips off the 1.5986 level and left the other half open only by mistake as the market closed while I was shutting my orders.

Poor risk management over the weekend however I am going to watch things on open and see if I can't get another entry this week on a small pull back for a longer term BUY hold.

As usual, your very simple charts say what I do in many paragraphs

Hope you had a good weekend.

Cheers,

4x.
  • #12,022
  • Mar 14, 2011 12:25am Mar 14, 2011 12:25am
[quote=stewrigh;4465969]Hi all,

I would like to ask a philosophical question of this august body for you to ponder over the weekend. I'm sure it's been asked(and answered) before but can someone tell me why gov'ts borrow money from banks when they have the authority to print it interest free.

http://en.site2.answcdn.com/template..._a.gif?v=81199
Yes, once in 1835, when Andrew Jackson was president. He hated the Federal Bank and debt and tried very hard to completely get rid of it. He didn't quite succeed at getting rid of the Federal bank (obviously) but he did succeed in having America become debt free for the first (and so far the only) time since America became its own country.






Read more: http://wiki.answers.com/Q/Has_americ...#ixzz1GXzkOxU8


The answer you recieved stewright was very interesting and sounds completely believable,but as this cut and paste job above shows,America has been debt free,printed it's own notes and did not go to Hell in a handcart or turn into a Zimbabwe style trainwreck. I believe the Fed has come and gone a number of times in Americas past.Ask yourself this : Does it feel right that a bunch of unkown Banksters prints a nations currency ? I imagine very few Americans actually know that the Fed is a privately owned institution.
There are a few things on Youtube that give a better or as elegant an explanation as 4xaddict gave of his viewpoint than I ever could about how it all works. You might want to take a look at the Zeitgeist movie for a start.
  • #12,023
  • Mar 14, 2011 12:31am Mar 14, 2011 12:31am
I would love to see this get some traction.

http://bankofamericasuck.com/
  • #12,024
  • Mar 14, 2011 8:50am Mar 14, 2011 8:50am
Quoting Low
I would love to see this get some traction.

http://bankofamericasuck.com/
Thank you for leading me to this thread ( Thank You Chris for creating this thread) and thank you for the V . I believe i have found my spiritual home and the best way of learning TA and FA.....the last acronym being fundermental analysis ....cant help it i just gotta say
All systems of divination, like music itself,work through patterns.
  • #12,025
  • Mar 14, 2011 9:52am Mar 14, 2011 9:52am
Agreed DD, there is a lot of good material around but you do have to hunt for it outside of the mainstream media channels.

My only reservation about looking back so far in history for direction is that the state of the world has changed materially since those times both in population size and with globalisation and the impact of free trade agreements just to name some basics. There would be a significant upheaval take place to restore the US to a debt free state and while it may be better for the domestic population I think there would be a longer period of severe hardship whilst industry reallocated resources so that the US could provide for itself without significant global trade links. Furthermore humanitarian ideology in government would need to be rewritten as international human rights would be severely affected were the US to withdraw from the global economy to become debt free.

Costs of everyday essentials would increase substantially and therefore living costs thereby reducing the living standard for the average punter which would not be swallowed easily and furthermore this would likely have significant impacts on international alliances from a military perspective due to a reduced international presence of the US. This may be a viable solution but would mean an entire generation effectively agreeing to eat 5hit till retirement to get the country out of the mess it is in.

There is a fine line in the information available between what is realistic and educated opinion and just libertarian nonsense that goes too far. All I would say to those wanting more info is to try and maintain perspective as to what reality will actually be vs the rubbish currently being pushed by both the Fed Reserve and from the other side the tin-foil hat brigade. Going long silver, log cabins and ammunition for the armageddon trade that so many are calling for is imho a waste of one's time and resources. There is no problem though being diversified into some precious metals and everyone should be to a degree.

Cheers.

4x.

[quote=Deputy Dawg;4468542]
Quoting stewrigh
Hi all,

I would like to ask a philosophical question of this august body for you to ponder over the weekend. I'm sure it's been asked(and answered) before but can someone tell me why gov'ts borrow money from banks when they have the authority to print it interest free.

[left]http://en.site2.answcdn.com/template..._a.gif?v=81199
[color=#000000]Yes, once in 1835, when Andrew Jackson was president. He hated the Federal Bank and debt and tried very hard to completely get rid...
  • #12,026
  • Mar 14, 2011 12:34pm Mar 14, 2011 12:34pm
I agree with the last post when it comes to the idea of metals. Although I certainly think the direction of gold and silver is up - it has become the "end of the world" trade, which is ridiculous. I never understood the concept to be honest.

Let's say that you are buying gold at the moment. You might be playing the futures or possible buying physical coins or bars. Now what? I mean - what in the hell are you going to do with it? The reason I ask this is that if the end is coming, you are screwed. Why? Because when there is no food - nobody gives a shit about your gold coin.n (Or better yet, try to buy food off of a farmer buy using your "futures contract"! If it really hits the fan - you are better off owning wheat or live hogs, something to eat is more important than some shiny piece of metal.

Let's look at the other outcome: The is no end of the financial world. If that's the case, then gold prices will eventually fall. When they do - it is going to be absolutely brutal and quick. Few markets can correct like the gold markets.

Having said that, there is certainly a nice trade to be had buying gold form time to time, but it is only a matter of time before this bullshit unwinds. It might not be right away - but it will happen someday. I am hoping to be awake for that, I would love to sell gold at $2,000 an ounce, and never look back.
  • #12,027
  • Mar 14, 2011 1:12pm Mar 14, 2011 1:12pm
Quoting clockwork71
I agree with the last post when it comes to the idea of metals. Although I certainly think the direction of gold and silver is up - it has become the "end of the world" trade, which is ridiculous. I never understood the concept to be honest.

Let's say that you are buying gold at the moment. You might be playing the futures or possible buying physical coins or bars. Now what? I mean - what in the hell are you going to do with it? The reason I ask this is that if the end is coming, you are screwed. Why? Because when there is no food - nobody...
I could not have said it better.
  • #12,028
  • Mar 14, 2011 11:07pm Mar 14, 2011 11:07pm
Quoting Low
I could not have said it better.
Sure you could have!
  • #12,029
  • Mar 15, 2011 12:53am Mar 15, 2011 12:53am
Quoting clockwork71
I agree with the last post when it comes to the idea of metals. Although I certainly think the direction of gold and silver is up - it has become the "end of the world" trade, which is ridiculous. I never understood the concept to be honest.

Let's say that you are buying gold at the moment. You might be playing the futures or possible buying physical coins or bars. Now what? I mean - what in the hell are you going to do with it? The reason I ask this is that if the end is coming, you are screwed. Why? Because when there is no food - nobody gives...
I'm with you Chris, When the banks start increasing rates gold and silver will dive - just a question of when IMO, but may take a while..
  • #12,030
  • Mar 15, 2011 3:48am Mar 15, 2011 3:48am
Hey Chris,

Do you mind taking a look at the USDZAR for me and letting me know your thoughts. This isn't a regular I trade in any respects however a horizontal line at 6.85 looks compelling to me as a buy.

Both on Monthly and Weekly, maybe not there yet but looks to have potential.

Cheers.

4x.
  • #12,031
  • Mar 15, 2011 8:10am Mar 15, 2011 8:10am
Move along people....nothing to see here:

http://noir.bloomberg.com/apps/news?...cTEaiKA&pos=12
  • #12,032
  • Mar 15, 2011 8:13am Mar 15, 2011 8:13am
Quoting stewrigh
I'm with you Chris, When the banks start increasing rates gold and silver will dive - just a question of when IMO, but may take a while..
Agreed. I think it is only a matter of time, and we are simply just creating another asset bubble. (It is what fiat currencies seem to do.) The bubble would be in commodities in general, as we cannot find room to store oil it seems, and gold isn't particularly useful at the end of the day. Corn would be worse off if we weren't using it as fuel, and Soybeans? I live in Ohio.....trust me, no shortage of them.

But, like you said.....it could be a while before common sense prevails.
  • #12,033
  • Edited 8:40am Mar 15, 2011 8:26am | Edited 8:40am
Quoting 4xAddict
Hey Chris,

Do you mind taking a look at the USDZAR for me and letting me know your thoughts. This isn't a regular I trade in any respects however a horizontal line at 6.85 looks compelling to me as a buy.

Both on Monthly and Weekly, maybe not there yet but looks to have potential.

Cheers.

4x.

I see that it already broke through. However, you must know that ZAR is directly related to gold, and is in fact a proxy for trading it in the FX world. As such, even if I think gold will fall precipitously, I wouldn't short the Rand to be honest. It isn't time yet. Someday, there will be a long-term short on the Rand. I am more interested in shorting this pair, at the red line.
Attached Image (click to enlarge)
Click to Enlarge Name: zar.png Size: 55 KB
  • #12,034
  • Mar 15, 2011 8:32am Mar 15, 2011 8:32am
DJIA----

-191 points. I really wish I wasn't going to the vet today. There's probably some great money to be made.
  • #12,035
  • Mar 15, 2011 8:37am Mar 15, 2011 8:37am
-293....
  • #12,036
  • Mar 15, 2011 8:54am Mar 15, 2011 8:54am
No doubt about the markets. I just bought another 100 shares of Citi, hoping it falls even more. I am hoping to have 5,000 shares by the time it's all said and done - might take a minute though.
  • #12,037
  • Mar 15, 2011 8:57am Mar 15, 2011 8:57am
Quoting clockwork71
Let's say that you are buying gold at the moment. You might be playing the futures or possible buying physical coins or bars. Now what? I mean - what in the hell are you going to do with it? The reason I ask this is that if the end is coming, you are screwed. Why? Because when there is no food - nobody gives a shit about your gold coin.n (Or better yet, try to buy food off of a farmer buy using your "futures contract"! If it really hits the fan - you are better off owning wheat or live hogs, something to eat is more important than some shiny piece...

Well put, I also share this viewpoint of owning physical gold & silver. Not so easy to convince some armageddon-type family members though. Hate to see people put all their eggs in one basket so to speak.

BTW, great discussion on fiat money systems; been having a tough time trying to understand that whole concept.

Thanks for an always interesting thread...
  • #12,038
  • Mar 15, 2011 9:03am Mar 15, 2011 9:03am
Quoting clockwork71
No doubt about the markets. I just bought another 100 shares of Citi, hoping it falls even more. I am hoping to have 5,000 shares by the time it's all said and done - might take a minute though.
I'm sure there's plenty of punters willing to part with their Citi shares.....

I'm resisting the urge to go long and leave the house. Too volatile for unsupervised day trades.
  • #12,039
  • Mar 15, 2011 1:53pm Mar 15, 2011 1:53pm
Is this something??????? I have no stock account but I should buy perhaps.
Suggestions?
Attached Image (click to enlarge)
Click to Enlarge Name: 2011-03-15_Ford_Motors.png Size: 58 KB
Kind Regards zol
  • #12,040
  • Mar 15, 2011 1:57pm Mar 15, 2011 1:57pm
Quoting zoli
Is this something??????? I have no stock account but I should buy perhaps.
Suggestions?
Attachment
this would be interesting (for me) if it closes above 15 usd next friday. that would mean a bullish outside bar closing above resistance. just mho
meine augen sind die sterne
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