Dislikedi looked at the daily chart and went short.. you told me a long time ago higher high higher low makes a trend so i see for the last week trend is up also on the daily chart. i can admit my crystalball thinking is shorts should be squeezed and stopped out now?.... wrong! ... i was not short because of something you wrote.
don't let guys like me disturbe you please > regards paxIgnored
Technical Analysis Fallacy
- #27,744
- Oct 12, 2011 9:15am Oct 12, 2011 9:15am
- Joined Aug 2011 | Status: Trader | 10,724 Posts
Hi thread,
i asked redlion to brief me on true rescues, and scouts etc. And its amazing the whole concept to me
I just rescued a coupla wrong-timed trades,
and another fallacy in TA, is that covert plan on dollar and euro loan.
it was human psychology there, people long on rumors, possibly insider trading.
i asked redlion to brief me on true rescues, and scouts etc. And its amazing the whole concept to me
I just rescued a coupla wrong-timed trades,
and another fallacy in TA, is that covert plan on dollar and euro loan.
it was human psychology there, people long on rumors, possibly insider trading.
Have I got something on my face, SOLDIER?
- #27,745
- Oct 12, 2011 9:44am Oct 12, 2011 9:44am
Hi thread,
i asked redlion to brief me on true rescues, and scouts etc. And its amazing the whole concept to me
I just rescued a coupla wrong-timed trades,
and another fallacy in TA, is that covert plan on dollar and euro loan.
it was human psychology there, people long on rumors, possibly insider trading.
- #27,747
- Oct 12, 2011 10:30am Oct 12, 2011 10:30am
- Joined Aug 2011 | Status: Trader | 10,724 Posts
Buma ma gud friend, not everyone was long on rumours you know? Some people don't even listen to the news.
red lion shorted, chicky shorted... hahah, ironic.. Well, you were the only subscriber to my thread that went long and got a bagful of pips while we were trying to figure out what was going on.definitely was an unprecedented force on the volatility of the market.
Have I got something on my face, SOLDIER?
- #27,749
- Oct 12, 2011 10:42am Oct 12, 2011 10:42am
- Joined Jul 2011 | Status: Gold Again | 10,565 Posts
True, but think of it this way most of the liquidity in spot FX is provided by banks, big funds, and institutions that have deep pockets which are fillled with a lot of cha-chings. This was defnitely unprecedented, as most my thread are looking for shorts instead of listening to what was happening. I was talkng mostly about why it moved that much really, i mean of course not everyone longs on rumours, i shorted
Why everyone trying to short the top is a mystery, thought it was THE TREND IS YOUR FRIEND?
It takes a lot for me to IGNORE you, but you can try.
- #27,750
- Oct 12, 2011 10:45am Oct 12, 2011 10:45am
- Joined Aug 2011 | Status: Trader | 10,724 Posts
If you are talking about the EUR-USD, it was all there written in the charts; couple of well placed MA is all you need.
Why everyone trying to short the top is a mystery, thought it was THE TREND IS YOUR FRIEND?
well, trend is your friend until it lasts
counter-trending is even better friend well for me
Have I got something on my face, SOLDIER?
- #27,754
- Oct 12, 2011 12:21pm Oct 12, 2011 12:21pm
hello N-trader... maybe i am not the one to say some thing today but i am not trading and i will take Fana's advice and: willing to help others in the best way iam able... enough people who can correct me when iam wrong.
the 3 kindoms are in sync sometimes...
lately i see the most of the moves are euro moves ... you can see this when euro crosses all move in the same dirrection ... if this is the case the usd-yen and gbp-usd are relatively flat... espessialy usd-yen is relatively flat lately (IMHO!!)
when all the crosspairs are in...
thanks for your kind sharing. I used to think the same in terms of the directional moves for the 3 crosses. However, BOJ has been trying to hold the line at 76.xx for the past few months. Seems like UJ may not be that reliable anymore as an indicator? e.g. when EU/GU trend up, UJ do not show the corresponding downward move anymore.
I believe some experience traders here would be able to share greater insights.
I had to close my shorts. cost me about 2% of my account.. I think i still need to work on my MM. seems like i have the tendency to overexpose myself too early into a trade.
Once again, thanks for sharing
Cheers
- #27,755
- Oct 12, 2011 12:28pm Oct 12, 2011 12:28pm
Hi N,
I have no idea if that 3kgds correlation has lost some of it's value.
But what I can say for sure, when the 3 kgds are in sync (like in early London session) the move is very strong and also reliable.
Well - of course you have to be focussed on the charts and be very careful and nimble, cause you never know, when this realtionsship starts to fade. But that'S not a problem, cause following the rules you are trading according to the momentum (flow) in any case ...
CU,
Niels
Could you share with me about scout placement? Do you try to place them at significant S/R levels or just at random?
My other question is regarding pivot levels. I know that some traders keep pivot levels at the back of their mind. But does it really work? I tried that before sometime back and experience random successes.
It's been a long day for me.. gotta get some rest.
good nite world
n
- #27,757
- Oct 12, 2011 12:36pm Oct 12, 2011 12:36pm
Hi Pax,
thanks for your kind sharing. I used to think the same in terms of the directional moves for the 3 crosses. However, BOJ has been trying to hold the line at 76.xx for the past few months. Seems like UJ may not be that reliable anymore as an indicator? e.g. when EU/GU trend up, UJ do not show the corresponding downward move anymore.
I believe some experience traders here would be able to share greater insights.
I had to close my shorts. cost me about 2% of my account.. I think i still need to work on my MM. seems like i have the tendency...
i also look out for more insight
ecb's trichet is talking at association for financial market>>> last time he spoke he was pretty negative and worried about high systemic risks.
ooh it's at their annual dinner >> so i guess he wil not spoil their appetite lol
cheers N
even with my eyes open i cannot see everything
