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Majors Thread: EUR, USD, GBP, JPY

  • #41
  • Mar 24, 2006 11:23am Mar 24, 2006 11:23am
Qoute.
Lol...just more proof the market has no mind....if no traders went long they didn't make any money this morning. Thing is, traders did go long, otherwise there's nobody buying cable and no buying pressure so it wouldn't have made that bull move after the fake break south.

Nice to see your side of the coin. Of course some people went long. Those who went short yesterday decided to take profits? Certain instituitions could not wait since their customers needed GBP immediately? Some who see no hope anymore and got out of their trades - Scalp turned against them ? People felt the bottom has been made after that fake break South ? But before first making south traders did not really go long.! ! Though I went short GBP this morning ( previous chart )and booked the profits as you can see, I did not go short this afternoon. I went long GBP and EUR after the bad housing report.
I must say I really enjoy your thread. I am sure many have the same opinion though they do not voice it out. Don't let it die off.
Have a nice weekend
Highway.
  • #42
  • Mar 24, 2006 11:27am Mar 24, 2006 11:27am
[quote=Pipsta]nice..... I agree about the setup. I often find myself looking at a chart that has a price approaching a level and see that MAs, TLs and other indicators converging on the very same level within pips of each other. I shake my head and wonder how all the seemingly chaotic moves of these different sources will converge and they all will give the same level the price moves to. Add in the candlestick patterns and the time sensitive nature of their creation and I wonder how a price will seem to wallow around for hours to create a certain pattern then after the candle change race off once the change occurs. At the top of the hour, and every four hours at the top of the hour you can almost ensure that there will be a test of some price level. Why do traders wait or how does the rate wait to make it's move until the clock says a certain time? It's the chicken or the egg question. Does the market behave that way because of the traders or do the traders behave that way because of the market?


Pipsta,

Yes That is a wonder. I think the market or any market for that matter or perhaps the universe, or perhaps all reality works the same way. Things happen, because enough colloective forces think they should happen. I suppose that is why FIb Numbers are so previlent in nature. That which was, is and will be again.

Oops, I wax phylisophical. sorry, don't get me started.

I guess, when it is all said and done, I'll just take the money and run...
Have a pleasent and relaxing weekend... SMJ

PS, I am fairly new to this Forum and I gotta tell ya, I have never met a better, more knowledgable group of people who are incredebly willing to share their insights and talents. I am humbled and honored to be here.
Thanks so much, SMJ
  • #43
  • Mar 24, 2006 12:33pm Mar 24, 2006 12:33pm
Quoting highway3000
Nice to see your side of the coin. Of course some people went long. Those who went short yesterday decided to take profits? Certain instituitions could not wait since their customers needed GBP immediately? Some who see no hope anymore and got out of their trades - Scalp turned against them ? People felt the bottom has been made after that fake break South ? But before first making south traders did not really go long.! ! Though I went short GBP this morning ( previous chart )and booked the profits as you can see, I did not go short this afternoon. I went long GBP and EUR after the bad housing report.
I must say I really enjoy your thread. I am sure many have the same opinion though they do not voice it out. Don't let it die off.
Have a nice weekend
Highway.
I suspect that most of the people who were short as of NY session today were short already from further up. If you went short when the price was already down by 1.7350 and got out with a profit before the whipsaw on the fake break then you are one skilled trader. I've successfully gotten out of a fake break with profit but it usually involves me being present and watching the price action like a hawk. Otherwise it would have been hard to see someone open a trade short around 1.7350 and then have a target set that would close it before the bottom occurred just above 1.7300. 50ish pips is not something insignificant(that's all I got on my trade this morn) but the way the setup was short positions didn't look to have as much room to run as ones that were long. Of course I didn't really have a great read on potential levels for a bounce or reversal with the cable that's why I was focusing on the fiber. If anything I would have said 1.7250ish had the best potential of attracting any bear move and that would have been a decent target for a short from 1.7350ish. The weekly chart has a trendline there and if I was so inclined I would have said that was what I was looking for.

I'm sitting here a little bummed because I hedged off my long on the fiber at 1.2020 and it looks like the rate will wind up closing near the projected max top of today's candle. An extra 30 pips or so would have been nice.

I appreciate the supportive words but this isn't my thread...this is our thread. I may have started it, but my intention was that it was for anyone who didn't want to clutter other threads that had a more focused topic with random ideas and thoughts on major pairs. It looked like it was 'my thread' because I was one of the few posting here regularly but I just didn't want to take my random musings and post them anywhere so I kept coming back to the thread I had created for that purpose. Hopefully this thread will gather steam and more members will continue to post their thoughts and comments. I prefer not to dominate this thread nor am I using it as a platform to push any of my methods of trading. I enjoy chatting and reading about forex and the pairs I trade so I was hoping to instigate a interaction of traders in a thread that wasn't necessarily focused on one particular method or strategy. My methods have come from these type of interactions. I'm always learning and it often comes from random postings of others that I get my best ideas. Or it allows me to work out a new strategy that I've been bouncing around and not sure how it's going to work out. Like the slow stoch method is relatively new for me and I've only recently been taking live trades using the indicator as I've been discussing it lately.

In fact I'm working on a new method of trading. I have these fish, two guaramis, they do that kissing fish fight thing. Well on some days the blue one is getting the upper hand and chasing the other one around. Other days it's the orange one that's getting the best of the kissy fight. I'm working on a strategy that uses the dominant fish for the day to help me decide whether I want to go long or short. Blue long , orange short? How does that sound? I think I'll go into demo testing with it and see how the fish strategy works.
  • #44
  • Mar 24, 2006 12:46pm Mar 24, 2006 12:46pm
Quoting smjones
Pipsta,

Yes That is a wonder. I think the market or any market for that matter or perhaps the universe, or perhaps all reality works the same way. Things happen, because enough colloective forces think they should happen. I suppose that is why FIb Numbers are so previlent in nature. That which was, is and will be again.

Oops, I wax phylisophical. sorry, don't get me started.

I guess, when it is all said and done, I'll just take the money and run...
Have a pleasent and relaxing weekend... SMJ

PS, I am fairly new to this Forum and I gotta tell ya, I have never met a better, more knowledgable group of people who are incredebly willing to share their insights and talents. I am humbled and honored to be here.
Thanks so much, SMJ
Yea, Fibonacci was onto something when he was dropping those pebbles into puddles to try and figure out those ratios. You can wax philosophic if you want...but I don't suggest you wax your back or anything else....eeesh....

Yea, this is a pretty good forum. I've frequented a few different ones over my years of trading and some of them can be littered with distractions(trolls). This one is fairly busy yet pretty lacking in out&out troll types who do nothing but stir up crud.
  • #45
  • Mar 24, 2006 12:56pm Mar 24, 2006 12:56pm
Quoting Pipsta
In fact I'm working on a new method of trading. I have these fish, two guaramis, they do that kissing fish fight thing. Well on some days the blue one is getting the upper hand and chasing the other one around. Other days it's the orange one that's getting the best of the kissy fight. I'm working on a strategy that uses the dominant fish for the day to help me decide whether I want to go long or short. Blue long , orange short? How does that sound? I think I'll go into demo testing with it and see how the fish strategy works.
Back in the '90s a guy by the name of Jake Bernstien {Commodity Trading Newsletter & Recommendations} ran a test where he had a little trading competition with his dog. He [supposedly] actually ran real money through the account he setup for the pooch. I can't remember exactly how the dog picked It's trades but I think it was something like printed charts on the floor with pages beside that said buy and sell. The dog would show interest in a particular chart and also whether to Buy or Sell.

I think, although Jake finally won the contest,{amazing what a little kibble under the beans chart could accomplish} he was quite embarrassed for the first couple of weeks as the Canine Commodity Captain took a substantial lead.

Thanks for reminding me Pipsta. Maybe I'll start checking the ratio of fertile:non fertile eggs my T3 Black Angels lay to solve the OB/OS equation.
  • #46
  • Mar 24, 2006 1:14pm Mar 24, 2006 1:14pm
Quoting smjones
Good Morning, at least where I am,

I thought I would take a moment and show the last trade on the GBPUSD that started on 03/20/06 at 19:00 EST. This was a 4 Hour tunnel trade...

I would comment more, but the chart says it all.
Now hopefully I have figured out how to upload the dang chart.

thanks SMJ
That's interesting. It corresponds almost exactly to one of my LBT charts. These two systems work very well together.
The framework is there; we just have to work on our frame of mind.
  • #47
  • Mar 24, 2006 1:27pm Mar 24, 2006 1:27pm
Quoting niceguy777
That's interesting. It corresponds almost exactly to one of my LBT charts. These two systems work very well together.
I have been hearing about your book and your LBT system. I went to your web site, perhaps I am a bit dense. Is your book an actual hold in your hand, sit down in the easy chair real paper book? Or is it a e-book that I can carry on my flashdirve and view anywhere I have a computer?

Either way, I am on my way to the order form. thanks SMJ
  • #48
  • Mar 24, 2006 1:43pm Mar 24, 2006 1:43pm
Quoting Bemac
Back in the '90s a guy by the name of Jake Bernstien {Commodity Trading Newsletter & Recommendations} ran a test where he had a little trading competition with his dog. He [supposedly] actually ran real money through the account he setup for the pooch. I can't remember exactly how the dog picked It's trades but I think it was something like printed charts on the floor with pages beside that said buy and sell. The dog would show interest in a particular chart and also whether to Buy or Sell.

I think, although Jake finally won the contest,{amazing what a little kibble under the beans chart could accomplish} he was quite embarrassed for the first couple of weeks as the Canine Commodity Captain took a substantial lead.

Thanks for reminding me Pipsta. Maybe I'll start checking the ratio of fertile:non fertile eggs my T3 Black Angels lay to solve the OB/OS equation.
Hehehehe....Like two years ago I had this roomate that had this little dog named Yeti. Little fuzzy eared mutt but he was sooo cute. Anyhoo, he had these two chew toys that were exactly alike except one was red and one was blue. So I would throw these two toys simultaneously and yell 'Get yer binky, Yeti!' Depending on which one he brought me back, because he couldn't fit both in his mouth, I would go long or short......eh...not so good...I did better with the spagetti wall stick method.
  • #49
  • Mar 24, 2006 1:44pm Mar 24, 2006 1:44pm
Quoting smjones
I have been hearing about your book and your LBT system. I went to your web site, perhaps I am a bit dense. Is your book an actual hold in your hand, sit down in the easy chair real paper book? Or is it a e-book that I can carry on my flashdirve and view anywhere I have a computer?

Either way, I am on my way to the order form. thanks SMJ
Hi smjones. It's the former - a good old fashioned, nicely produced book that even has an ISBN number. The big advantage about doing it this way is that you can even read it where you don't have a computer - in the bath, on the john, on the bus, at the dinner table, in bed, on the beach...........
The framework is there; we just have to work on our frame of mind.
  • #50
  • Mar 24, 2006 1:48pm Mar 24, 2006 1:48pm
Quoting niceguy777
Hi smjones. It's the former - a good old fashioned, nicely produced book that even has an ISBN number. The big advantage about doing it this way is that you can even read it where you don't have a computer - in the bath, on the john, on the bus, at the dinner table, in bed, on the beach...........
It's a done deal.. thanks and I look forward to the read. I hope I never want to stop learning. SMJ
  • #51
  • Mar 24, 2006 2:00pm Mar 24, 2006 2:00pm
Quoting niceguy777
The big advantage about doing it this way is that you can even read it where you don't have a computer - in the bath, on the john, on the bus, at the dinner table, in bed, on the beach...........
You don't have access on your john?...this is a new millenium, all johns should have HSI! With wireless taking over I'm suprised people can't get online just about anywhere. I live in Tempe, Arizona and they are making the whole town covered with wireless access. On top of lightpoles everywhere there will be routers and for like a monthly fee you would be able to access anywhere within city limits. Right now they got the whole downtown and college area covered but within a year they will be going to the whole city limits.

My only concearn is privacy. I was thinking they could easily put little cameras on top of these poles at the same time and could have the whole city covered with video surveillance that could be accessed wirelessly. It would make car chases obsolete because they could just follow a person with cameras but it also could mean the end of privacy for eveyone. Ok....the conspiracy guy in me came out...
  • #52
  • Mar 24, 2006 2:09pm Mar 24, 2006 2:09pm
Quoting Pipsta
You don't have access on your john?...this is a new millenium, all johns should have HSI! With wireless taking over I'm suprised people can't get online just about anywhere. I live in Tempe, Arizona and they are making the whole town covered with wireless access. On top of lightpoles everywhere there will be routers and for like a monthly fee you would be able to access anywhere within city limits. Right now they got the whole downtown and college area covered but within a year they will be going to the whole city limits.

My only concearn is privacy. I was thinking they could easily put little cameras on top of these poles at the same time and could have the whole city covered with video surveillance that could be accessed wirelessly. It would make car chases obsolete because they could just follow a person with cameras but it also could mean the end of privacy for eveyone. Ok....the conspiracy guy in me came out...
Wow, that was quick, I walked away for a cuppa and all the sudden I am back in the paranoid zone. I am surprised that your guys do not already have cameras on light posts. We sure do... Oh well, bib brother is taking notes...

I guess I gotta go find the meds again.

SMJ
  • #53
  • Mar 24, 2006 2:10pm Mar 24, 2006 2:10pm
Dang I gotta start usin my spel chackor...

SMJ
  • #54
  • Mar 24, 2006 2:30pm Mar 24, 2006 2:30pm
Quoting niceguy777
Hi smjones. It's the former - a good old fashioned, nicely produced book that even has an ISBN number. The big advantage about doing it this way is that you can even read it where you don't have a computer - in the bath, on the john, on the bus, at the dinner table, in bed, on the beach...........
Completely out of context ramble on my part: NG, i'm glad you went to the trouble of having the book available in hard copy format. . . I love to curl up in the big ol' chair and read a good trading book on a rainy day. (and we have plenty of'em on the Oregon Coast!)
Thom
  • #55
  • Mar 24, 2006 2:33pm Mar 24, 2006 2:33pm
Quoting accrete
Completely out of context ramble on my part: NG, i'm glad you went to the trouble of having the book available in hard copy format. . . I love to curl up in the big ol' chair and read a good trading book on a rainy day. (and we have plenty of'em on the Oregon Coast!)
Thom
I heard on the Oregon coast, you don't tan you rust. Is that true?

SMJ
  • #56
  • Mar 24, 2006 2:47pm Mar 24, 2006 2:47pm
Quoting smjones
I heard on the Oregon coast, you don't tan you rust. Is that true?

SMJ
LOL, there is probably some truth to that. I know that the past 15 years out here i've certainly gotten moldy a few times. (we get 100 inches a year of the wet stuff here in my town).
  • #57
  • Mar 24, 2006 2:50pm Mar 24, 2006 2:50pm
Quoting smjones
Wow, that was quick, I walked away for a cuppa and all the sudden I am back in the paranoid zone. I am surprised that your guys do not already have cameras on light posts. We sure do... Oh well, bib brother is taking notes...

I guess I gotta go find the meds again.

SMJ
Hey neighbor, how's the snow?

There are on stoplights, not on streetlights though....like down the residential way...right in front of your house. No...but it's not too far away from that happening. On the surface I'm not too worried, it doesn't affect me. I'm not one who does anything to hurt anyone. I'm crazy but I'm not criminal. It's just that once the cameras are in place, there is nothing to ensure that they will be used the right way.

Mebbe it's just cause the camera hates me, I'm not so 'photogenic'. The camera always catches me at weird angles and I have those demon eye things happen with the redeye. I'm attractive I guess, I just prefer the director's side of the camera.

bib brotha? I won't even rip on that one...it's funny tho...I got this little freeware program called 'tinyspell' from freewarefiles.com I think it's a little spellchecker that loads into your tray and it checks anything your typing, but it's kinda annoying becuase it doesn't have any windowface to work with just a bubble that pops up by the tray. It alerts me everytime I misspell a word and then I can click the tray icon and get that word spelled right. I haven't figured out how to check a finished document with it so I'm still on the search for the eternal spellchecker. It's free and works though so I shouldn't complain.
  • #58
  • Mar 24, 2006 2:50pm Mar 24, 2006 2:50pm
Quoting smjones
I heard on the Oregon coast, you don't tan you rust. Is that true?

SMJ
Yes, that's pretty much the same here in Vancouver.

But hey guys, surely some things are sacred in life. Wireless access on the john? - I don't think so! If you can't have a bit of quiet concentration there, we are surely doomed as a race, and are certainly going to have a hemarrhoid epidemic.

The framework is there; we just have to work on our frame of mind.
  • #59
  • Mar 24, 2006 2:55pm Mar 24, 2006 2:55pm
Quoting Pipsta
Hey neighbor, how's the snow?

There are on stoplights, not on streetlights though....like down the residential way...right in front of your house. No...but it's not too far away from that happening. On the surface I'm not too worried, it doesn't affect me. I'm not one who does anything to hurt anyone. I'm crazy but I'm not criminal. It's just that once the cameras are in place, there is nothing to ensure that they will be used the right way.

Mebbe it's just cause the camera hates me, I'm not so 'photogenic'. The camera always catches me at weird angles and I have those demon eye things happen with the redeye. I'm attractive I guess, I just prefer the director's side of the camera.

bib brotha? I won't even rip on that one...it's funny tho...I got this little freeware program called 'tinyspell' from freewarefiles.com I think it's a little spellchecker that loads into your tray and it checks anything your typing, but it's kinda annoying becuase it doesn't have any windowface to work with just a bubble that pops up by the tray. It alerts me everytime I misspell a word and then I can click the tray icon and get that word spelled right. I haven't figured out how to check a finished document with it so I'm still on the search for the eternal spellchecker. It's free and works though so I shouldn't complain.
If heavyJ is the poster child for spell checker, I am the poor bastard child that no on talks about.

Oh well, you would think I would improve, my wife is an English teacher.
SMJ
  • #60
  • Mar 24, 2006 3:00pm Mar 24, 2006 3:00pm
I'll post this shot of a trade long GBP trade i took this morning ... I posted it in a day trading thread, but thought it was appropriate here since there were several posts on this morning's session on the GBP.

This was my first LeftBrainTradeing trade of sorts. I say of sorts as i've yet to recieve the book and really know what i'm doing with what i'm seeing.

But i can say this, i luv FIBOs, and the LBT data was lining up nice w/much of my TA so i dived in long just above the blue line in the screen shot below. I had set a TP of the DashDot green 38.2% data line that corresponded, in this case, to the daily pivot data and the main tunnel ema. It was good for about 40 pips once the spread was taken out (all in demo).

NiceGuy777 responded in the other thread that it was a pretty good trade for not reading the book yet! Thanks NG : - )

I'm gonna have more fun with fibos once i read the book and get a handle on the model.

http://www.accrete.com/fx_posts/misc...30m_1stlbt.png
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