Silent Service Method | Page 622 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Silent room 2 replies

Silent Success of Patience 10 replies

My silent journal 4 replies

bo7a method... method for GBP/JPY 205 replies

Seeing Through the Silent Crash 4 replies

Attachments: Silent Service Method
Exit Attachments

Silent Service Method

  • #12,421
  • May 22, 2011 7:32pm May 22, 2011 7:32pm
Quoting o990l6mh
I wish I had written this: http://www.vanityfair.com/society/fe...?currentPage=1

Unfortunately I didn't, but I am 100% sure that Stiglitz is right in what he expresses in that article.

Read it and weep Professor Kamerschen
Wow. Shocked something like that made it on here. That's like heresy around here! Agree 100% with Prof. Stiglitz -- huge issue, but be careful, express those views in the wrong setting and you'll be hogtied and called a socialist.

Euro looks like a train wreck. I'd be selling it versus everything (and yes, that includes the USD). Granted I have no positions on, so it's easy to be an armchair analyst.

Hope everyone had a good weekend. Probably better than Dominique Strauss Kahn's. You know you've made it when they lampoon your on SNL:

http://www.hulu.com/watch/243591/sat...all#s-p2-sr-i1
  • #12,422
  • May 22, 2011 8:08pm May 22, 2011 8:08pm
Looking at the EUR/CHF, all I can say is look out below. I am currently short the EUR/USD futures, and the USD/CHF futures - creating the futures equivalent of the short EUR/CHF position. I am also long gold as well, from just over 1500. All I can do now is wait....

Chris
  • #12,423
  • May 22, 2011 8:09pm May 22, 2011 8:09pm
Quoting InfinitySL
Wow. Shocked something like that made it on here. That's like heresy around here! Agree 100% with Prof. Stiglitz -- huge issue, but be careful, express those views in the wrong setting and you'll be hogtied and called a socialist.
I don't call people socialist - just bitch-ass when it's appropriate.
  • #12,424
  • May 23, 2011 10:24am May 23, 2011 10:24am
The EUR/CHF made a 4 hour hammer below the all-important 1.24 area, which of course could present problems. However, the trend is certainly down, and I feel that it isn't necessarily "catching the knife", rather shows a bounce could be in the cards. It's possible, as the 1.40 area has a lot of support underneath it in the EUR/USD, and that is where we sit right now. Truth is, I think it's likely we keep falling, but it all comes down to how far we bounce if I get knocked out.

I have stops place at the 1.450 mark for the EUR/USD Jun contracts, and have actually gotten knocked out at b/e in the USD/CHF short. (It's my own fault......wasn't paying attention.) The Jun 11 has 9 forward points, so the price isn't quite the same - but close enough to the spot rate you all are following.

I may end up doing another video soon about this.

Chris
Attached Image (click to enlarge)
Click to Enlarge Name: eurchf.png Size: 27 KB
  • #12,425
  • May 23, 2011 10:26am May 23, 2011 10:26am
Anyone following the LinkedIn story will certainly find this chart no so surprising. Bubble? No doubt.

Of course, there is no way to short this friggin' stock, or I would be hammering it.
Attached Image (click to enlarge)
Click to Enlarge Name: linkedin.png Size: 60 KB
  • #12,426
  • May 23, 2011 4:19pm May 23, 2011 4:19pm
Quoting clockwork71
The EUR/CHF made a 4 hour hammer below the all-important 1.24 area, which of course could present problems.
Chris
I too noticed that
I wonder if this is one of those sly candles

Did you also notice the Eur/Jpy @ 115? Daily candle showing pin bar shape. At least it is for me, another 2 hours till close
  • #12,427
  • May 23, 2011 5:29pm May 23, 2011 5:29pm
Quoting InfinitySL
Wow. Shocked something like that made it on here. That's like heresy around here! Agree 100% with Prof. Stiglitz -- huge issue, but be careful, express those views in the wrong setting and you'll be hogtied and called a socialist.

Euro looks like a train wreck. I'd be selling it versus everything (and yes, that includes the USD). Granted I have no positions on, so it's easy to be an armchair analyst.

Hope everyone had a good weekend. Probably better than Dominique Strauss Kahn's. You know you've made it when they lampoon your on SNL:

http://www.hulu.com/watch/243591/sat...all#s-p2-sr-i1...
Agree, that is a good and true read. This country needs drastic change, the middle class has been destroyed. It is a sad state of affairs.

Anyways, I earned 6% last quarter in my forex account! woo-hoo! 1% here I come!
  • #12,428
  • May 24, 2011 12:59am May 24, 2011 12:59am
Quoting VitaminBeer
I too noticed that
I wonder if this is one of those sly candles

Did you also notice the Eur/Jpy @ 115? Daily candle showing pin bar shape. At least it is for me, another 2 hours till close
Yes I did. I wouldn't be surprised to see a bounce, we have fallen hard after all.
  • #12,429
  • May 24, 2011 8:12am May 24, 2011 8:12am
I am having this ridiculous conversation with AVAFX reps today about how I have a new account manager. It's the 3rd or 4th in a year or so. You guys know I was offering free access to the forum for joining them. (I made the mistake of being an IB with them.)

Well, I am no longer working with them, and the allegations of this thread being "fantasy" has been brought up. This post is more for Adrian's benefit, as for some reason he seems to not believe me.

I really hate the FX world at times.

Guys, do yourself a favor - still with the ECNs. If you can't afford one, then don't trade is my advice. There are a few good brokers that aren't - IBFX, Oanda, and a handful of others. But in general - I don't miss them.

Gotta love Interactive Brokers.
  • #12,430
  • May 24, 2011 8:34am May 24, 2011 8:34am
One to watch today. Let's see how it closes......the 1.32 area is huge for this pair.
Attached Image (click to enlarge)
Click to Enlarge Name: audnzd.png Size: 43 KB
  • #12,431
  • May 24, 2011 9:02am May 24, 2011 9:02am
Quoting clockwork71
I don't call people socialist - just bitch-ass when it's appropriate.
I wasn't necessarily talking about you chris!

What's the story with AvaFX? What does this line mean: "the allegations of this thread being "fantasy" has been brought up. This post is more for Adrian's benefit, as for some reason he seems to not believe me."

To your point about ECNs. I think its best to stick w/ the Big Boys. Big-name firms you've heard of. Most of these guys aren't that concerned with ripping people off that trade small accounts. Most of them just want you to generate as much commission & bid/ask as possible. Oanda is the perfect place to learn for small account holders... but then again I've always been of the opinion that you'll learn 100x more by trading a $200 "real" account with micro lots (i.e. $500/trade or even smaller) than a $100,000 "practice" account trading full-sized lots of play money. Losing $20 of real money hurts more than losing $50,000 of play money IMHO.
  • #12,432
  • May 24, 2011 12:48pm May 24, 2011 12:48pm
Quoting InfinitySL
I wasn't necessarily talking about you chris!...
The deal with AVA is a long story, but it basically ends up with me not getting paid from an IB deal. Long, and very uninteresting story.

I firmly believe that sticking with the largest makes the most sense. I firmly believe in ECNs, and don't like others as a general rule. I mean, there certainly are honest brokers out there like IBFX, GFT, etc., but I think the temptation of ripping off your customers is too great for a lot of brokers.

I mean, it reminds me of the "Chinese Curtain" on Wall Street. I know that the ratings agencies are hired by the very people they are rating. There's a lot of money to be made doing that.......there is no way that the rating people would pad their customers ratings......we know that didn't happen at all during the housing bubble. I feel that a lot of these firms are in the same boat.

As a general rule, if they aren't regulated in the US - there is something wrong. Think about it: You are a broker that can't be bothered to be capitalized and regulated enough to have access to the largest economy in the world.......odd if you think about it.
  • #12,433
  • May 24, 2011 9:29pm May 24, 2011 9:29pm
Quick video posted on the blog.
  • #12,434
  • May 25, 2011 11:55am May 25, 2011 11:55am
Truly sad about Mark Haines passing. He was one of the few financial reporters I respect. He called the whole LinkedIn thing a bubble - he has also called the top of the NASDAQ during the Tech bubble and the bottom of the S&P500 at 666.

Smart guy.
  • #12,435
  • May 25, 2011 8:25pm May 25, 2011 8:25pm
Quoting clockwork71
Quick video posted on the blog.
hey cw, i cannot see any new videos posted on the blog, just aud/nzd from april....thanks...

sad out of nowhere moment for the business world today.
  • #12,436
  • May 25, 2011 11:51pm May 25, 2011 11:51pm
Quoting drebin
hey cw, i cannot see any new videos posted on the blog, just aud/nzd from april....thanks...

sad out of nowhere moment for the business world today.
Odd......I just watched the latest one. What browser are you using if you don't mind me asking?
  • #12,437
  • May 26, 2011 10:01am May 26, 2011 10:01am
It's good to be short the EUR/USD today. The 1.42 held firm, and now there is talk that Greece won't get more sugar. I don't believe it necessarily, but it's good for the account no9ne the less.
  • #12,438
  • May 26, 2011 3:53pm May 26, 2011 3:53pm
Quoting clockwork71
It's good to be short the EUR/USD today. The 1.42 held firm, and now there is talk that Greece won't get more sugar. I don't believe it necessarily, but it's good for the account no9ne the less.
Hi all, this is my first post here. A friend told me about this thread so I checked in. I have a lot of reading to do.

I'm not sure about being short eurusd at the moment. I went long tonight (GMT) after a heiken ashi change and the general trend looks up to me. I'm sure we'll find out soon enough which way it's going to go. I have a sensible stop loss on it anyway so what's the worst that could happen?
  • #12,439
  • May 26, 2011 4:00pm May 26, 2011 4:00pm
INFINITY SL - do me a favor and send me your email address. I need it for the new place......

email me at [email protected]
  • #12,440
  • May 26, 2011 11:13pm May 26, 2011 11:13pm
I woke up 120 pips up so I've moved to break even. It would be nice to see 1.45 but maybe even 1.49?

I've read quite a bit of this thread so far with help from the index on the first post. I really like the method set out here and as it happens I am using something similar already just not quite as logically set out and thought through.

I particularly like the psychological stuff like placing a trade and forgetting about it and what trading is all about ie freedom from a job NOT a second job involving 16 hours at a screen.

Thanks Clockwork, I hope I will get up to speed with your method soon and be able to add something to your excellent thread.
5 traders viewing now