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  • #12,781
  • Jul 27, 2011 9:30pm Jul 27, 2011 9:30pm
Quoting stewrigh
Yeah,

And this is where the capital of the Eurozone is lol
Hey, the Belgians make great beer, and they don't have a government. Should we be laughing at them, or should they be laughing at us?
  • #12,782
  • Jul 27, 2011 9:38pm Jul 27, 2011 9:38pm
Quoting InfinitySL
I was going to add some views on the recent nonsense in washington, but what's the point? They're all idiots

And for your entertainment... enjoy this quick Rap about the debt ceiling. An instant classic if you ask me:

http://www.youtube.com/watch?v=EoS52fVtVQM
That video is great!

As for the politics, I think it only shows that the political system is totally broken in the US. i know it's hard to believe, but being in Congress was once considered a service to your country, not the country serving you.

I know your political leanings are far from them SL, but this is the exact kind of crap that got the Tea Party all fired up. I think there is only a matter of time before we get a real third party. Perhaps the Libertarians will get a foothold because of this kind of BS. Remember, had he not jumped out and flaked on everyone, Perot had a real shot at becoming President.....
  • #12,783
  • Jul 27, 2011 11:18pm Jul 27, 2011 11:18pm
new blog video/post
  • #12,784
  • Jul 28, 2011 8:53am Jul 28, 2011 8:53am
Quoting clockwork71
That video is great!

As for the politics, I think it only shows that the political system is totally broken in the US. i know it's hard to believe, but being in Congress was once considered a service to your country, not the country serving you.

I know your political leanings are far from them SL, but this is the exact kind of crap that got the Tea Party all fired up. I think there is only a matter of time before we get a real third party. Perhaps the Libertarians will get a foothold because of this kind of BS. Remember, had he not jumped out...
I think both parties have major issues. True Progressive/Liberals can't stand Obama because they think he's bought and paid for by the same banks and lobbyists that own the Republican party. So the Republicans lost the far right to the Tea Party, there seems to be an opening for the far left to lose the liberals. Meanwhile, those of us who think we reside closer to the center have no one representing us in congress. It truly is a corporatocracy, far from a democracy. If you think it's one man, one vote, you're kidding yourself. Ok, sorry for my rant...

But regardless. One trade that caught my eye recently was NZD/USD. Looks like it's running into stiff resistance at .88. Also if it's a risk-off type trade coming our way that might help this one out. Anyway, waiting for my entry point. Also was messing around with the USD/JPY chart last night and saw an interest wedge formation forming. If the US ever does get its act together, people might wake up to the fact that Japan has debt equal to 200% of GDP! Anyway... haven't focused too much on markets as I'm trying to buy a house and have put way more effort into that.

Anyway... I'll leave you with this... This really puts this issue into perspective...

http://www.wtfnoway.com/
  • #12,785
  • Jul 28, 2011 9:07am Jul 28, 2011 9:07am
  •  Atom
  • | Joined Jul 2010 | Status: An atom..no more..probably less! | 44 Posts
Quoting clockwork71
I am writing about something that I will probably write about time and time again.

I know this flies in the face of everything you read or heard that gets you into trading currencies, but leverage only helps to a point. It's also one of the most dangerous facets of trading. Think of this: The banks just blew up on 30:1 leverage. We often have 400:1.

It seems to me that I will probably have the conversation as long as I am a trader, and that no matter what I say, only a handful of people will actually listen.

[b][i]Sorry, but you are not...
Thank you Clockwork for this thread. I am reading it from the beginning and will try to read the first 200 pages and then follow the lates posts. Today I read the post quoted above. I totally agree!

You know, if I had read the post 18 months ago I would totally disagree. I started trading with 1:200 and thought how lucky I am to be able to work with such "generous" leverage!! And generous it was indeed. but to my broker . Now I am trading with 1:15 Max. I am not profitable yet, but I am in a much better poisition in terms of controlling my account and being forced to learn more and be more disciplined. The important point is that my Journey from 200 to 15 was filled with tremendous pain and $1500 of micro losses. Every three months I would be pushed painfully and reluctantly to request my broker to lower my leverage by 50 (200 - 150 - 100 - 50 - 25 -15) I believe nothing but loss and loss will convince anybody that big leverage is a curse!!, sort of speak.

Tahnk you again, and will be following your posts attentively.
  • #12,786
  • Jul 28, 2011 3:39pm Jul 28, 2011 3:39pm
Quoting Atom
Thank you Clockwork for this thread. I am reading it from the beginning and will try to read the first 200 pages and then follow the lates posts. Today I read the post quoted above. I totally agree!

You know, if I had read the post 18 months ago I would totally disagree. I started trading with 1:200 and thought how lucky I am to be able to work with such "generous" leverage!! And generous it was indeed. but to my broker . Now I am trading with 1:15 Max. I am not profitable yet, but I am in a much better poisition in terms of controlling my...
Thanks Atom, and thank you for showing up!
  • #12,787
  • Jul 28, 2011 4:01pm Jul 28, 2011 4:01pm
Uploaded a new video on the blog involving USD/CHF.

You Tube is currently processing it.......taking a few minutes, but its there.
  • #12,788
  • Jul 28, 2011 6:58pm Jul 28, 2011 6:58pm
In regards to (yet another) debt-ceiling debate....Anyone think that if Wall street is so busy selling the rumor, maybe we should be looking to buy the fact?
  • #12,789
  • Jul 28, 2011 8:53pm Jul 28, 2011 8:53pm
Quoting Low
In regards to (yet another) debt-ceiling debate....Anyone think that if Wall street is so busy selling the rumor, maybe we should be looking to buy the fact?
I think that possibly we may see nothing until the weekend. My suspicion is that although there has been a sell off in the stock markets, the volume hasn't been huge in many of the other markets. If we don't get a solution over the weekend.....it could get ugly for a very short period of time. However, anything can and will happen.
  • #12,790
  • Jul 29, 2011 1:53am Jul 29, 2011 1:53am
I've got an inkling that the whole thing is bs. There is no way the US is going to default, it just simply won't happen, there is too many factors involved.

This is to me, is just a political game, whether they do a temporary fix to raise the debt ceiling now and work out the rest a bit later on or what, it's gonna happen either way. It has to.

I will be looking for US strength sooner than later.
  • #12,791
  • Jul 29, 2011 1:59am Jul 29, 2011 1:59am
That GBP/CAD has broken out of the box to the upside.

Was also looking at that rejection on EUR/AUD at demand from Dec/Jan but wasn't sure if it would just start ranging there? It's also counter-trend assuming it hasn't found a bottom yet.
  • #12,792
  • Jul 29, 2011 2:17am Jul 29, 2011 2:17am
Quoting Rk33333
That GBP/CAD has broken out of the box to the upside.
mmm....Im far from convinced on a long here yet.......a clear break, then hold above, then retest of 15550, then PA to suit, then maybe.....a long is still countertrend.......i would still prefer shorts but downside is limited to 1.53ish.....sitting on hands me thinks
  • #12,793
  • Jul 29, 2011 3:57am Jul 29, 2011 3:57am
Quoting clockwork71
I think that possibly we may see nothing until the weekend. My suspicion is that although there has been a sell off in the stock markets, the volume hasn't been huge in many of the other markets. If we don't get a solution over the weekend.....it could get ugly for a very short period of time. However, anything can and will happen.
my only issue with it being a massive sell off is that its arguably already being priced in. Everyones aware of the situation, and if it is or isnt resolved it wont be a huge trigger event like sell off similar to Lehmann, though it may mean a structural more long term trend with regard to treasuries and associated markets.
Grabbing the bull by the horns!
  • #12,794
  • Jul 29, 2011 4:05am Jul 29, 2011 4:05am
Quoting clockwork71
I need a new broker for Forex I think. Anyone here use Oanda? How do you feel about them? I ask because I like the idea of being able to trade a few exotics when the time is right.......

Chris
Hi Chris,

Oanda has been my primary broker of choice since 2007 and they'll continue to be. I've always felt they were a solid firm with a perhaps simplistic, but user-friendly and intuitive platform. It's only grown more reliable and versatile over-the-months-and-years. Not-to-mention they're minimal on gimmicky marketing. I actually feel proud to have them as my broker; they're entirely professional. They mean business and they treat FX as their specialty.

In fact, they recently sent me a time-sensitive, comprehensive survey of their FX Trade service and product. I really appreciated that opportunity to not only rate it in detail, but thoroughly use the space given to provide specific feedback and suggestions as well. Every function/stage is simple to complete, including account sign-up, deposit and withdraw and all very timely.

Back to their solidity I believe is also reflected in numbers from a steady expansion in retail market presence (offices now in every major market center) and well above average net capital base according to the C.F.T.C., e.g.. From a regulatory standpoint they're totally above-board from what I can tell and set the standard in retail FX brokeraging across the board in-my-opinion.

To your other point regarding the (exotic) pairs they currently offer, including comparative spread info, their webpage may properly address it at www.fxtrade.oanda.com/why/spreads/live

All the best,
Aaron
  • #12,795
  • Jul 29, 2011 7:15am Jul 29, 2011 7:15am
Quoting Rk33333
That GBP/CAD has broken out of the box to the upside.

Was also looking at that rejection on EUR/AUD at demand from Dec/Jan but wasn't sure if it would just start ranging there? It's also counter-trend assuming it hasn't found a bottom yet.
Well......it is perfectly placed pinbar/hammer. But I don't know.......even though the idea of the AUD selling off in this environment isn't out of the question, I am really leery of owning the EUR. I think it looks like it may want to bounce....but only bounce at best. Like you said, could be consolidation as well...
  • #12,796
  • Jul 29, 2011 7:16am Jul 29, 2011 7:16am
Quoting mypipbull
mmm....Im far from convinced on a long here yet.......a clear break, then hold above, then retest of 15550, then PA to suit, then maybe.....a long is still countertrend.......i would still prefer shorts but downside is limited to 1.53ish.....sitting on hands me thinks
I have a better idea (I think).......check out 1.57

200 pips away from the break out, which is the same amount as the height of the box it broke out of......and it is the 50% retrace, as well as the 200 day moving average will be about there if the markets climb to it.......

I am looking to short it up there.
  • #12,797
  • Jul 29, 2011 7:19am Jul 29, 2011 7:19am
Quoting whitegoodman
my only issue with it being a massive sell off is that its arguably already being priced in. Everyones aware of the situation, and if it is or isnt resolved it wont be a huge trigger event like sell off similar to Lehmann, though it may mean a structural more long term trend with regard to treasuries and associated markets.
I would agree w/ this, and I normally do agree w/ WG. (How you been man????)

The one thing that we aren't seeing is massive volume in the markets either way, which could say some people are being way too complacent, so I think a sell off could come, but like he said - nothing like Lehman Brothers......it would be much more stable than that. I would think you could get a couple of rough days.......maybe a few 3-5% down days in the stock markets at best.

The "smart money" has already made their contingency plans I would think.
  • #12,798
  • Jul 29, 2011 7:21am Jul 29, 2011 7:21am
Quoting Soca
Hi Chris,

Oanda has been my primary broker of choice since 2007 and they'll continue to be. I've always felt they were a solid firm with a perhaps simplistic, but user-friendly and intuitive platform. It's only grown more reliable and versatile over-the-months-and-years. Not-to-mention they're minimal on gimmicky marketing. I actually feel proud to have them as my broker; they're entirely professional. They mean business and they treat FX as their specialty.

In fact, they recently sent me a time-sensitive, comprehensive survey of...
Thanks Aaron....

You use FX Trade, don't use their MT4?

And I think I found another reason to switch, they offer Android platform.......IBFX doesn't.
  • #12,799
  • Jul 29, 2011 7:28am Jul 29, 2011 7:28am
Quoting VitaminBeer
I've got an inkling that the whole thing is bs. There is no way the US is going to default, it just simply won't happen, there is too many factors involved.

This is to me, is just a political game, whether they do a temporary fix to raise the debt ceiling now and work out the rest a bit later on or what, it's gonna happen either way. It has to.

I will be looking for US strength sooner than later.
Where there are politicians, BS is sure to be found.......you will get no argument here.
  • #12,800
  • Jul 29, 2011 11:36am Jul 29, 2011 11:36am
Quoting clockwork71
I have a better idea (I think).......check out 1.57

200 pips away from the break out, which is the same amount as the height of the box it broke out of......and it is the 50% retrace, as well as the 200 day moving average will be about there if the markets climb to it.......

I am looking to short it up there.
- Already there!
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