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  • #497,641
  • Jul 24, 2011 9:26am Jul 24, 2011 9:26am
Quoting Larseg
In fact, forecasting any direction for 800-1000 pips from here is very hard to do...

I have in fact never seen a more equal amount of long&short commercials... However, the majority of non-commercials are short so I can see that it is tempting to go long

Leave Lars, its sunday night...
You mean I shouldn't be forecasting major moves in a consolidation area? Damn. Who woulda thunk it I am ready to move on from it, but it does offer some nice r:r opportunities that are no-brainer.

Although, last week we did have a few who were absolutely in-love with their shorts.

It always is a much easier game just to follow.
  • #497,642
  • Jul 24, 2011 9:32am Jul 24, 2011 9:32am
Quoting Venice
You mean I shouldn't be forecasting major moves in a consolidation area? Damn. Who woulda thunk it

Although, last week we did have a few who were absolutely in-love with their shorts.

It always is a much easier game just to follow.
absolutely-
Hero calls followed by margin calls...
  • #497,643
  • Jul 24, 2011 9:42am Jul 24, 2011 9:42am
Quoting NYWallSt
Thinking the same thing on the Euro crash. IMO i think EU tops out at 1.53-54 along with the S&P-500 around 1400-1440.
GU is a great example.. when it reached 2.11 - it was unsustainable.. man i wish i was trading forex when that b1tch dropped... cause it dropped really hard...
  • #497,644
  • Jul 24, 2011 9:53am Jul 24, 2011 9:53am
The old debate..... I don't agree with ONE strategy. I think both are valid. One is to follow the trend, but then you better get ready for some interesting draw downs, or go with picking turns and focus on r:r. Both valid approaches.... Traders bashing others for "not following the trend" are you know... What's a trend? What TF are we talking about, on and on.... It annoys me almost as much as the religious types that think because they believe in something they know "the truth". I'm very worried about people claiming that know THE TRUTH. Nobody knows jack $hit IMHO.
  • #497,645
  • Jul 24, 2011 10:01am Jul 24, 2011 10:01am
Quoting attila
Nobody knows jack $hit IMHO.
i know i wanna be here

Inserted Video
  • #497,646
  • Jul 24, 2011 10:03am Jul 24, 2011 10:03am
Quoting jaylovin
i know i wanna be here

http://www.youtube.com/watch?v=F4MCNKYyMGg
i was there... well.... something close to it....
they ruined all my trading plans.....
  • #497,647
  • Jul 24, 2011 10:06am Jul 24, 2011 10:06am
Quoting attila
The old debate..... I don't agree with ONE strategy. I think both are valid. One is to follow the trend, but then you better get ready for some interesting draw downs, or go with picking turns and focus on r:r. Both valid approaches.... Traders bashing others for "not following the trend" are you know... What's a trend? What TF are we talking about, on and on.... It annoys me almost as much as the religious types that think because they believe in something they know "the truth". I'm very worried about people claiming that know THE TRUTH. Nobody...
even though the name you chose ATTILA makes me think other things,
your opinions and what you write here find me completely agreeing with you friend
  • #497,648
  • Jul 24, 2011 10:08am Jul 24, 2011 10:08am
Quoting pkimnyc
i was there... well.... something close to it....
they ruined all my trading plans.....
lol
Hero calls followed by margin calls...
  • #497,649
  • Jul 24, 2011 10:23am Jul 24, 2011 10:23am
Quoting jaylovin
i know i wanna be here

http://www.youtube.com/watch?v=F4MCNKYyMGg
EXACTLY. Trading is like dancing, find the market's rhythm, relax, enjoy it and if you stop being so constipated you'll see your account balance agreeing. Oh, and don't forget. You'll never make 1MIL starting from 500 bux. NEVER.
  • #497,650
  • Jul 24, 2011 10:23am Jul 24, 2011 10:23am
Quoting attila
The old debate..... I don't agree with ONE strategy. I think both are valid. One is to follow the trend, but then you better get ready for some interesting draw downs, or go with picking turns and focus on r:r. Both valid approaches.... Traders bashing others for "not following the trend" are you know... What's a trend? What TF are we talking about, on and on.... It annoys me almost as much as the religious types that think because they believe in something they know "the truth". I'm very worried about people claiming that know THE TRUTH. Nobody...
Agreed completely. I tend to focus on trading turns. This method is clear as day to me when the start of a turn happens, when I can lock in some profit, when I am wrong... it's just what I do. It can be learned by anyone else, and can be used profitably by anyone else. Doesn't mean it's the best method or even favorable to others trading styles. I never have cared how anyone gets their pips, just as long as they do it. This silly cat can be skinned a million ways with a few left over.

My favorite is when people start coming in and stating that there is only 1 way to do this and only one way; me thinks you will soon find out that not only is this person trading a Micro account, but he may have had some relative success with his new method as of recent. Never mind the fact that this person is now testing strategy 9ty+billion. They get more than two losses in a row, welp, time to move on to the next holy grail, criticizing anyone who actually had patience with it and uses it properly.

It's amazing just what a consistent strategy will do for you, if you can survive through your losing streaks. It may not have a high enough edge, but it starts a mindset and foothold in this world that the only way it is paid for, is the draining of your accounts. A lesson well needed and welcomed though.
  • #497,651
  • Jul 24, 2011 10:26am Jul 24, 2011 10:26am
Quoting stormtrader
even though the name you chose ATTILA makes me think other things,
your opinions and what you write here find me completely agreeing with you friend
I'm really getting tired of intransigent people, trying to show they are the smart ones, and the rest are stupid. The only time I think hmmmm... is when somebody gives some targets that have to go through several s/r disregarding a possible reverse on the way to there. Everything else is valid.

Yeah, I don't quite like attila anymore but it's too late to change it. I'll have to live with it I guess..
  • #497,652
  • Jul 24, 2011 10:29am Jul 24, 2011 10:29am
Quoting Venice
Agreed completely. I tend to focus on trading turns. This method is clear as day to me when the start of a turn happens, when I can lock in some profit, when I am wrong... it's just what I do. It can be learned by anyone else, and can be used profitably by anyone else. Doesn't mean it's the best method or even favorable to others trading styles. I never have cared how anyone gets their pips, just as long as they do it. This silly cat can be skinned a million ways with a few left over.

My favorite is when people start coming in and stating that...
nice statement
Hero calls followed by margin calls...
  • #497,653
  • Jul 24, 2011 10:32am Jul 24, 2011 10:32am
All strategies are Bull$hit. They are something that make us THINK we have an edge. Nonsense again. It all comes down to your mental make up, and the gut feeling of what the market might do(experience/hours and hours of watching the charts). That's it. The only thing that's left is deciding when/if to cut your losses. Dealing with winners is easy, me thinks.


Quoting Venice
Agreed completely. I tend to focus on trading turns. This method is clear as day to me when the start of a turn happens, when I can lock in some profit, when I am wrong... it's just what I do. It can be learned by anyone else, and can be used profitably by anyone else. Doesn't mean it's the best method or even favorable to others trading styles. I never have cared how anyone gets their pips, just as long as they do it. This silly cat can be skinned a million ways with a few left over.

My favorite is when people start coming in and stating that...
  • #497,654
  • Jul 24, 2011 10:34am Jul 24, 2011 10:34am
Quoting attila
EXACTLY. Trading is like dancing, find the market's rhythm, relax, enjoy it and if you stop being so constipated you'll see your account balance agreeing. Oh, and don't forget. You'll never make 1MIL starting from 500 bux. NEVER.
Working on debunking that currently. But, I started with 250 with my latest account.

Proper money management, compounding of the money, never withdrawing the cash should provide ample opportunity to accomplish this. Oh, and time. Plenty of time. Lots of time and little greed. Just a goal, very little monetary dependency to it also makes it easier to accomplish.

Let's see. After all, without goals, what do we really have?
  • #497,655
  • Jul 24, 2011 10:35am Jul 24, 2011 10:35am
Quoting attila
All strategies are Bull$hit. They are something that make us THINK we have an edge. Nonsense again. It all comes down to your mental make up, and the gut feeling of what the market might do(experience/hours and hours of watching the charts). That's it. The only thing that's left is deciding when/if to cut your losses. Dealing with winners is easy, me thinks.
The sooner people realize this is a game of calculating risk and probabilities, the better off they will be.


(oops, I just gave out the holy grail to this world)
  • #497,656
  • Jul 24, 2011 10:37am Jul 24, 2011 10:37am
a possibility i do not dismiss .. gl






Quoting NYWallSt
Seeing EUR/USD breaking out of its previous trend consolidation Wedge/Flag formation and equal its last moves length which would take us to resistance 1.53-54 area and drop from there. Extended resistance at 1.6000. Weekly Chart.
  • #497,657
  • Jul 24, 2011 10:37am Jul 24, 2011 10:37am
Quoting Venice
is a game of calculating risk and probabilities
Intransigent again there..... It's either that or it's an ART. I lean towards trading being and art.

edit: and the reason I'm saying this is because what you stated is a very simple concept. A lot of people would have figured that one out but we still have 95% losing this game. It's not that simple.
  • #497,658
  • Jul 24, 2011 10:39am Jul 24, 2011 10:39am
Quoting ingmarforex
whe will have first or final risk on rally so commodities will lift and the cad and aud nok (commdols) then whe can setup for the next meltdown.
china can not substain his growth.
in my oppinion.

Also Chinese manufacturing continues to be depressed a PMI number sank below the critical 50 level that separates expansion (above) and contraction (below).

Right now the usd is just weak and trichet just keep rising intrest rates and pressure will remain the coming weeks, i think (speculation) that will move to the 1.4750 area before the the meltdown...
S&P
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  • #497,659
  • Jul 24, 2011 10:40am Jul 24, 2011 10:40am
Quoting attila
Intransigent again there..... It's either that or it's an ART. I lean towards trading being and art.
Interesting. Never have viewed it as an art; but could most certainly see how. Get in tune with the rhythm and motion of the market.

My analytical mind, alas, only let's me see numbers and calculations.
  • #497,660
  • Jul 24, 2011 10:42am Jul 24, 2011 10:42am
Quoting Venice
The sooner people realize this is a game of calculating risk and probabilities, the better off they will be.


(oops, I just gave out the holy grail to this world)
sh!t.... why'd you have to do that?.....
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