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  • #528,561
  • Aug 21, 2011 1:09pm Aug 21, 2011 1:09pm
Quoting Magix
Shitz gone to peices...

Madhouse is right...

Rat started her own thread, ken just busted out one of his own.

Markets been an effing roller coaster and most importantly...

The sun is shining and the beer is cold...
saw Ken's thread, love it already...
no comment on the rat....
market looks mad...
cold beer, dont mind if I do brother...
Look Sharp/Trade Tight
  • #528,562
  • Aug 21, 2011 1:13pm Aug 21, 2011 1:13pm
Quoting PayTheLimit
good to hear your still at the bastards, sure you will make heads or tails of them soon...its funny, still after all these years, every once in a while, I turn the computer on and am lost, and think...I couldn't take two cents out of this market..bloody horrible business if you ask me, but I'm screwed, cause I dont know how to do anything else...good luck mate...
aint it the worst....yet its become the only thing that can keep up with my mind.....the pace and all the angles and unknowns....fakin awesome
  • #528,563
  • Aug 21, 2011 1:13pm Aug 21, 2011 1:13pm
Quoting PayTheLimit
saw Ken's thread, love it already...
no comment on the rat....
market looks mad...
cold beer, dont mind if I do brother...
lol PTL... long time enjoyed those mojitos ?
  • #528,564
  • Aug 21, 2011 1:16pm Aug 21, 2011 1:16pm
Quoting needpips
aint it the worst....yet its become the only thing that can keep up with my mind.....the pace and all the angles and unknowns....fakin awesome
I hear ya brother, dont disagree, and trust me, if I didnt love this business, I would have quit a long time ago...
Look Sharp/Trade Tight
  • #528,565
  • Aug 21, 2011 1:18pm Aug 21, 2011 1:18pm
Quoting PayTheLimit
good to hear your still at the bastards, sure you will make heads or tails of them soon...its funny, still after all these years, every once in a while, I turn the computer on and am lost, and think...I couldn't take two cents out of this market..bloody horrible business if you ask me, but I'm screwed, cause I dont know how to do anything else...good luck mate...
yeah sometimes you look at the chart and it makes perfect sense, other times it's a complete puzzle, better to resist the temptation to make an entry if you can't read it clearly, that's actually a big part of my dilemma if i'm honest...
  • #528,566
  • Aug 21, 2011 1:18pm Aug 21, 2011 1:18pm
Quoting duyk20
sup' Gix?
Up until about an hour ago, my Pepto to Caffine level, but now stabilizing it with my Blood alcohol...
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #528,567
  • Aug 21, 2011 1:21pm Aug 21, 2011 1:21pm
Quoting darimik
lol PTL... long time enjoyed those mojitos ?
indeed I did brother...now back the to the salt mines for a bit, more vacay on the horizon though....here is the only thing I traded last week..made lots of new contacts in Turkey....I plan to be active in USD/TRY from here on out...
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Look Sharp/Trade Tight
  • #528,568
  • Aug 21, 2011 1:28pm Aug 21, 2011 1:28pm
Quoting PayTheLimit
indeed I did brother...now back the to the salt mines for a bit, more vacay on the horizon though....here is the only thing I traded last week..made lots of new contacts in Turkey....I plan to be active in USD/TRY from here on out...
Whats up bro. Nice to have you back. usd/try like the idea.

Talk you tomorrow as a very hot Sunday still leave room for a beer outside tonight.

sisse
Pending conversations? PM for a chat...I am mainly in OTM now
  • #528,569
  • Edited 1:42pm Aug 21, 2011 1:29pm | Edited 1:42pm
Quoting FibbinArchie
just watching 2010 now, although Kubrick gave his blessing for the film to be made, not sure the loose ends were ever meant to be tied up...

hey maybe we should start a film review thread...
Thanks. will watch it soon.

i don't expect much from Monday so will only take 1 or 2 trades. im looking for shorts near 1.4420 with TP 1.4320. The rest, PA will decide after opening.

Movies
The Fourth Kind (this movie really messed with my brains)
13 Assassins
The Boondock Saints Part I, II
The Crimson rivers Part I, II
Eskiya
The Green Mile
3:10 to Yuma
Vidocq
Now going to watch Cowboys and Aliens. Catch ya later friends
Hope
  • #528,570
  • Aug 21, 2011 1:30pm Aug 21, 2011 1:30pm
Quoting sisse
Infinitus excellent post.

"Lehman is only a bump in the road of an Elliott-wave". I cherry picked the extreme Lehman case on purpose to show how the FA value of underlying is always more important than any TA long term.

How can Lehman by a bump in the road of and EW or any trading system when you can't trade the instrument. When you take the fundamental value from the picture, TA automatically disappears from the equation. Once stock price reached 0 there is no EW wave count or any TA applicable, the instrument is gone and all...
I am repeating the part of your post that caught my attention.

As follows;

Look, there is not EW or any TA without FA. The price of a currency is the reflexion of its FA underlying factors. The current price of the euro 1.44, and we traders are the one that try to rationalize the moves using charts and TA tools to profit from the moves not the other way around. A currency won't and can't never ignore it's underlying FA in the long term.

My thoughts:

EUR/USD moves each day as it adjusts to many many factors. There is not always just one fundamental factor at play. The strength or weaknes in USD/JPY as an effect. This is because USD/JPY has an effect on EUR/JPY. Let us imagine that the BOJ later tonight will intervene if USD/JPY goes below 76.00 and they sell Yen and buy Euro. That will cause EUR/JPY to go up and lead to EUR/USD going up. Of course there might be other factors at play also such as GBP/USD selling of which will bring down EUR/USD depending on the volume. The above points relate to fundamentals not charts.

"To succeed in the market, you must learn initially to embrace irony and paradox". I disagree, there is not irony and paradox in trading, is just traders perspective. We traders and our tools are the one who try to tame and rationalize price movements in "logical" frameworks (EW, etc), but the FA value of currency is only given by its FA factors and not by our perspective.

My thoughts: You are 100% correct and there can be no logical debate on this topic.

If the Lehman example wasn't enough what about these examples. 1st Euro 5 years charts including all the history of the pair and the second a custom chart of filtered 8 range tick chart on Friday US session.... can you count the EW (or any other TA) in the 1st chart?, what about the 2nd.....?

That's my point the current value of the euro is 1.44, only we and in our perspective can analyze it from a EW or any other TA. We want to tame the pair in a wave framework but the intrinsic value is the same and the final destination will be set by the FA behind not by the next wave 3 or stochastic crossover or test of Support in the second chart....

My thoughts:

Trading forex without understanding many other issues and counting on EA or price action or just technicals always leads to losses.

In any case, I think we agree on the trading part but not in the FA part but thats nice for a weekend conversation and for our swing trades not that much for our next intraday trade so best of good luck next week and enjoy the rest of the weekend.

I will post 5 calls and only 5 calls to make my point. Each one of the calls will be winning calls and I will post Entry and Exit and explain why the trade was made. There will be no calls before 2:00 AM EST since I do not trade the Japan open and start my trading day at 2:00 AM

The best of trading to fellow trader;s this week. The week will be very interesting and my basic call NOW for EUR/USD is down.

I can change my call in seconds if a NEW fundamental fact comes out and that is why I do not make calls with these 5 exceptions.

sisse
  • #528,571
  • Aug 21, 2011 1:31pm Aug 21, 2011 1:31pm
Quoting sisse
Whats up bro. Nice to have you back. usd/try like the idea.

Talk you tomorrow as a very hot Sunday still leave room for a beer outside tonight.

sisse

hey sisse, hope you've been well..Sunday nite is always good for few cold ones, talk in the AM....PTL
Look Sharp/Trade Tight
  • #528,572
  • Aug 21, 2011 1:33pm Aug 21, 2011 1:33pm
WB PTL
was missing you so checked your last reply 2 days back.
Hope
  • #528,573
  • Aug 21, 2011 1:36pm Aug 21, 2011 1:36pm
Quoting TheGamer
WB PTL
was missing you so checked your last reply 2 days back.
needed a little break from the craziness...
Look Sharp/Trade Tight
  • #528,574
  • Aug 21, 2011 1:40pm Aug 21, 2011 1:40pm
Quoting PayTheLimit
needed a little break from the craziness...
Yep, that's most necessary
Hope
  • #528,575
  • Aug 21, 2011 1:43pm Aug 21, 2011 1:43pm
Quoting TheGamer
Yep, that's most necessary
indeed, especially this thread....
Look Sharp/Trade Tight
  • #528,576
  • Aug 21, 2011 1:52pm Aug 21, 2011 1:52pm
http://www.xe.com/currencycharts/?from=EUR&to=USD

Is it just me or has E/U spiked down to 1.4360 and back up?

Is xe before markets open reliable for prices?
  • #528,577
  • Aug 21, 2011 1:57pm Aug 21, 2011 1:57pm
Quoting JeremyWS
http://www.xe.com/currencycharts/?from=EUR&to=USD

Is it just me or has E/U spiked down to 1.4360 and back up?

Is xe before markets open reliable for prices?
yeah, that's not unusual in pre market...
  • #528,578
  • Aug 21, 2011 1:59pm Aug 21, 2011 1:59pm
Quoting TheGamer
Thanks. will watch it soon.
hi gamer, would advise watching 2001 1st as it follows on directly...
  • #528,579
  • Aug 21, 2011 2:01pm Aug 21, 2011 2:01pm
Quoting JeremyWS
http://www.xe.com/currencycharts/?from=EUR&to=USD

Is it just me or has E/U spiked down to 1.4360 and back up?

Is xe before markets open reliable for prices?
Check your chart, a support test after the break zone can be anticipated...

Secondly, while retail market is CLOSED, we can almost always expect a little market fuckupery...
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Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #528,580
  • Aug 21, 2011 2:09pm Aug 21, 2011 2:09pm
Shaggy!

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Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
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