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  • #420,381
  • Apr 12, 2011 6:38am Apr 12, 2011 6:38am
Tanking at moment $107 oil see how this affects us.
making green pips large and red pips small this is my goal.
  • #420,382
  • Apr 12, 2011 6:39am Apr 12, 2011 6:39am
Quoting cloggie
That's why the ordinary person will never make it in this business and why most noobs reading this thread today will fail.



You need to figure that out for yourself, I am not going to teach you how to trade.
Thanks for the advice. I learn something everyday !
  • #420,383
  • Apr 12, 2011 6:41am Apr 12, 2011 6:41am
Quoting profx
Thanks for the advice. I learn something everyday !

You need to find your own edge, something that suits you and works for you. Copying someone else's trading style will never work for you. Use threads like this as entertainment and occasionally you will find a little nugget that you can use and adapt to give you an edge. The only reason there is a market is because we all trade different styles. Some are vastly more profitable then others as they are all encompassing, but that may not work for you or suit your personality and risk appetite.

I am a risk/correlation/fundy/news trader and only use the techs to back up the rest to give me the largest moves with minimum risk. The markets move the most when they are all pulling in the same direction, some here are pure tech traders and a few do all right sticking to that. Horses for courses, I like to keep an eye on everything out there to give me the largest profit potential for the minimum outlay.
  • #420,384
  • Apr 12, 2011 6:41am Apr 12, 2011 6:41am
Quoting cloggie
You got that backwards, Saudi is reducing production by 700k barrels a day.

Next stop for WTI 106.3
Ransqwuak says increasing supply which seems to tally with the reaction are you sure its reducing as this should push it up .?
making green pips large and red pips small this is my goal.
  • #420,385
  • Apr 12, 2011 6:42am Apr 12, 2011 6:42am
Quoting cloggie
That's why the ordinary person will never make it in this business and why most noobs reading this thread today will fail.



You need to figure that out for yourself, I am not going to teach you how to trade.

I would suppose by failing until your successes exceeded your failures. That's the learning curve. Newbies become oldbies and will still make the same mistakes--just less often.
Taigen Profit This Month: na
  • #420,386
  • Apr 12, 2011 6:43am Apr 12, 2011 6:43am
Quoting CapitalismPr
Does anyone know of an MT4 indicator which looks like this?
http://www.fxstreet.com/forex-tools/market-timeline/ ?
Maybe this one?
Attached File(s)
File Type: mq4 Time Sessions.mq4   6 KB | 294 downloads
  • #420,387
  • Apr 12, 2011 6:47am Apr 12, 2011 6:47am
Quoting paul1
Ransqwuak says increasing supply which seems to tally with the reaction are you sure its reducing as this should push it up .?

The demand dropped, that is lowering the price. Your source is wrong. Saudi reacted by reducing the supply to keep the drop in price contained.

http://www.reuters.com/article/2011/...32333720110412

http://online.wsj.com/article/SB1000...googlenews_wsj

http://www.smartmoney.com/news/on/?s...0110412-000139
  • #420,388
  • Apr 12, 2011 6:49am Apr 12, 2011 6:49am
Quoting paul1
Ransqwuak says increasing supply which seems to tally with the reaction are you sure its reducing as this should push it up .?
At pit open saudi say they going to increase production ,but few minutes later a source report they cut 500k bpd .

current price action support the initial increase in production saudi comment
making green pips large and red pips small this is my goal.
  • #420,389
  • Apr 12, 2011 6:49am Apr 12, 2011 6:49am
Quoting gatorinla
shit or pot time.
Goldman targets 105 pb.. i beat them by a day
Attached Image (click to enlarge)
Click to Enlarge Name: olg chf chart 1.203.PNG Size: 27 KB
those who can, do. those who cant, talk about those who can
  • #420,390
  • Apr 12, 2011 6:50am Apr 12, 2011 6:50am
Quoting paul1
At pit open saudi say they going to increase production ,but few minutes later a source report they cut 500k bpd .

current price action support the initial increase in production saudi comment

They are cutting by 700k, your source is not very good me thinks.
  • #420,391
  • Apr 12, 2011 6:50am Apr 12, 2011 6:50am
Quoting gatorinla
and we went to 448x?.. then you held a drop to 4380... im glad you made money.. thats the goal.
yeah i thought i was gonna see a complete reversal and lose the profits so i walk doubting myself :0
  • #420,392
  • Apr 12, 2011 6:54am Apr 12, 2011 6:54am
Quoting cloggie

Next stop for WTI 106.3

Here she comes.


OF course fundamentals don't work, wonder how many muppets bought oil on technicals and are now deep in the hole.

Time to read the FT/WSJ for some of you me thinks. If you are a pure tech trader, you are missing out on serious and easy money.
  • #420,393
  • Apr 12, 2011 6:55am Apr 12, 2011 6:55am
Quoting T@rantula
I tend to agree with you. I dont pay MUCH attention to news or other stuff...except pure PA and technicals.

For me the BEST supply/demand indicator is CANDLES.
I will second that.

As an Elliottican I believe too in the theory, that news only affect the outcome of prices over a short time (if at all).

But I think that mother nature gave a lot of room to incorporate such news, think e.g. of very complex corrective waves.

But to be true: when an interest rate hike kicks in, you may found at the end that your theory was true, but you might be faced with huge losses too. LOL

I think that you do not necessarily need to know all of the correlations, fundamentals etc. to trade successfully. But at least you should be able to know that sometimes news can impact heavily. Therefore keep an eye on the times when news is to be released.

And as Tarantula said: best S/D indicator are candles.
  • #420,394
  • Apr 12, 2011 6:55am Apr 12, 2011 6:55am
I liked this new option of FF which hides even the qouted messages of ignored members. so coool now no bull shiits more
Trade responsiblypatience is the key/Swing trader
  • #420,395
  • Apr 12, 2011 6:56am Apr 12, 2011 6:56am
Quoting Dvalera
yeah i thought i was gonna see a complete reversal and lose the profits so i walk doubting myself :0
i was looking for a bounce.. that's why i shorted there yesterday. but after i was looking for.. #420224...........
those who can, do. those who cant, talk about those who can
  • #420,396
  • Apr 12, 2011 7:00am Apr 12, 2011 7:00am
Quoting cloggie
You need to find your own edge, something that suits you and works for you. Copying someone else's trading style will never work for you. Use threads like this as entertainment and occasionally you will find a little nugget that you can use and adapt to give you an edge. The only reason there is a market is because we all trade different styles. Some are vastly more profitable then others as they are all encompassing, but that may not work for you or suit your personality and risk appetite.

I am a risk/correlation/fundy/news trader and only use...

I understand all that. I just don't see how anyone can be confident in a 'risk/correlation/fundy/news' study as all these parameters are constantly changing, and can be controlled at whim by the powers that be. So to take a medium/long-term position on the basis of believing in such a study is surely a fallacy ?
  • #420,397
  • Apr 12, 2011 7:00am Apr 12, 2011 7:00am
Quoting infinitus
I will second that.

As an Elliottican I believe too in the theory, that news only affect the outcome of prices over a short time (if at all).

But I think that mother nature gave a lot of room to incorporate such news, think e.g. of very complex corrective waves.

But to be true: when an interest rate hike kicks in, you may found at the end that your theory was true, but you might be faced with huge losses too....

Exactly. It works for me...fine
  • #420,398
  • Apr 12, 2011 7:01am Apr 12, 2011 7:01am
4479.1 is #1 bear.. we should bounce N there or after some slippage. but it may just be a head fake. admittedly we still have not touched 4526..
those who can, do. those who cant, talk about those who can
  • #420,399
  • Apr 12, 2011 7:03am Apr 12, 2011 7:03am
Quoting cloggie
The demand dropped, that is lowering the price. Your source is wrong. Saudi reacted by reducing the supply to keep the drop in price contained.

http://www.reuters.com/article/2011/...32333720110412

http://online.wsj.com/article/SB1000...googlenews_wsj

http://www.smartmoney.com/news/on/?s...0110412-000139
If i understand you correctly price will tank on fear of less demand and they cut production to keep it high.

Based on this you see limited downside?
making green pips large and red pips small this is my goal.
  • #420,400
  • Apr 12, 2011 7:03am Apr 12, 2011 7:03am
Quoting paul1
If i understand you correctly price will tank on fear of less demand and they cut production to keep it high.

Based on this you see limited downside?

You got it, that's why I am eyeballing 106.3. Pure fundy/news play. Now let's see how the technicals catch up. Fundy/news is always the driver first, techs get to the party late. Technically a trader would have bought WTI around 107.8-107.9, the Fundy/news trader knows better.
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