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  • #556,821
  • Nov 1, 2011 3:56pm Nov 1, 2011 3:56pm
Now we have, again, a news driven market.
I just recovered from the Euro Summit Stress...(made good money but looked like Tom Hanks in Cast Away, NOT kidding!)

Some days later, (and a shave) we have the same situation. This time even
again on the hope that they somehow postpone the referendum.
Tilll then, the market will be trading on News and on Air.

In German News TV they said at the G20 Summit in Cannes France they have an unbelievable 10'000 Police Forces to secure the area. Seems like
a very large number to me, what are they expecting?


I don't know but it just shows that this whole thing kinda moves in a
strange direction over time, and as a European it is hard to believe that in
our countries such things CAN actually happen.
  • #556,822
  • Nov 1, 2011 4:00pm Nov 1, 2011 4:00pm
Quoting SirMcPip
Don't want to adjust my Euro target :-). I think the massive rally that is ahead will take many by surprise. But everyone has a different way of looking at things.
Well, i was all long b4 but then had to adjust. The next rally will
b similar in strength like the one we just seen.
When Greece is fixed, Market will focus on Italy and Spain. I was
watching Blomberg TV few days ago and right after the fix, they
talked about Italy. Typical human behavior.
  • #556,823
  • Nov 1, 2011 4:06pm Nov 1, 2011 4:06pm
Quoting ThisPip
Now we have, again, a news driven market.
In German News TV they said at the G20 Summit in Cannes France they have an unbelievable 10'000 Police Forces to secure the area. Seems like
a very large number to me, what are they expecting?
Don't you remember what happened in London in 2009? There was a huge riot because of the G20. I think our french friends are trying to prevent this.
Bear the bull's consequence...
  • #556,824
  • Nov 1, 2011 4:07pm Nov 1, 2011 4:07pm
Quoting ThisPip
Well, i was all long b4 but then had to adjust. The next rally will
b similar in strength like the one we just seen.
When Greece is fixed, Market will focus on Italy and Spain. I was
watching Blomberg TV few days ago and right after the fix, they
talked about Italy. Typical human behavior.
As i said, it always depends how you look at the markets. Looking at the higher timeframes that was really just a little bitty noise today, so whatever works for you dont fix it..... I dont think Greece can be fixed though, Greece can only fix itself by getting their own currency back. But the media somehow will make the Greece problem seem fixed. Of course that is just the usual BS.
  • #556,825
  • Nov 1, 2011 4:10pm Nov 1, 2011 4:10pm
Bought some EURCHF at "low level".
Gonna relax a bit, play some FIFA 11


cheers and good trading all

tp
  • #556,826
  • Nov 1, 2011 4:20pm Nov 1, 2011 4:20pm
Quoting ThisPip
Bought some EURCHF at "low level".
Gonna relax a bit, play some FIFA 11


cheers and good trading all

tp
Is there some big news that has come out as after hours trading has seen a huge rise in the S&P, anyone.......
  • #556,827
  • Nov 1, 2011 4:22pm Nov 1, 2011 4:22pm
Quoting cecil gee
is there some big news that has come out as after hours trading has seen a huge rise in the s&p, anyone.......
no need, it was a misprint via my broker, sorry
  • #556,828
  • Nov 1, 2011 4:47pm Nov 1, 2011 4:47pm
Havnt seen crazier volatility than what happened in last couple of days. I wonder that on some trust left with euro? I had opened another short from 1.4000. Lets see!
  • #556,829
  • Nov 1, 2011 5:06pm Nov 1, 2011 5:06pm
Just pulled a stunt long 3699. SL 3599 TP 3999. Call me crazy but don't ask why.
Don't just beat the markets, leave bruises.
  • #556,830
  • Nov 1, 2011 5:21pm Nov 1, 2011 5:21pm
Quoting Motion
Just pulled a stunt long 3699. SL 3599 TP 3999. Call me crazy but don't ask why.
I will not ask why but you may want to reduce your TP to 3900. Also, given the potential risk to south (see weekly TF) your stop loss is very likely to be hit first
  • #556,831
  • Nov 1, 2011 5:30pm Nov 1, 2011 5:30pm
Euro leader should take a lesson in how to make decision. if not, they will be a REAL IDIOT


Quoting iqyu5an
till euro bankrupt and realize how real sector important is
realize 50% haircut is stupid decision
speculator meet mr call margin

Quoting iqyu5an
1)50 % haircut is good solution for long term ?
2) Japan did the right thing
3) if u're in private sector such as a banker, u wanna cut your profit by 50 % instantly ?
4) how about the export if euro is too high ? competitive enough ?
not euphoria follower
  • #556,832
  • Nov 1, 2011 5:31pm Nov 1, 2011 5:31pm
Quoting ThisPip
Well, i was all long b4 but then had to adjust. The next rally will
b similar in strength like the one we just seen.
When Greece is fixed, Market will focus on Italy and Spain. I was
watching Blomberg TV few days ago and right after the fix, they
talked about Italy. Typical human behavior.
this thing amazes me... once greece was fixed then everyone jumped on italy. I guess 10yr bonds are higher than 6.19% today? Why no-one is covering this? more than 6% means scary, no?

Someone pls correct me... Friday they will say ok, we'll take the aid package - 2-3days rally and then everyone jumps on italy?

By definition euro is crap IMO but everyday it amazes me how high it can go or fall.

How you guys see next days? Possible qe3 ? Greece theatre next episode?

I've got some short and wonder if i should hedge them or keep for longer term trade?

cheers
  • #556,833
  • Nov 1, 2011 5:48pm Nov 1, 2011 5:48pm
I'd bet on simple repetition of Tuesday market on Wednesday. Equities down -250, EUR/USD south -250. As simple as that.
  • #556,834
  • Nov 1, 2011 5:51pm Nov 1, 2011 5:51pm
If it wasn't for that money printing machine Bernanke opening his mouth tomorrow the Euro would really be tanking, however, the market is paralyzed, does he mention QE3, will that cause a dollar sell-off and a euro spike?
Yay! Pips for everyone!
  • #556,835
  • Nov 1, 2011 6:01pm Nov 1, 2011 6:01pm
SL hit just minutes after moving it to BE. Going long at 1.364 with a tight stop.
  • #556,836
  • Nov 1, 2011 6:05pm Nov 1, 2011 6:05pm
Is there any news that I am missing? Whats with the sudden drop.
  • #556,837
  • Nov 1, 2011 6:07pm Nov 1, 2011 6:07pm
According to Bloomberg TV Greece to Vote on EU membership!
  • #556,838
  • Nov 1, 2011 6:08pm Nov 1, 2011 6:08pm
Quoting jillsaab
Havnt seen crazier volatility than what happened in last couple of days. I wonder that on some trust left with euro? I had opened another short from 1.4000. Lets see!
Wrong Wrong

Greece Greece Greece f^*&^*k Greece
There are 2 trader fundie or TA PA never both, they have their own idiosyncracies.

Fundie, respected trader after yen spike, say not intervention, normal pa,
wrong, BOJ sell $98.7 Billion with 1 key stroke, most they ever use intervention,
S&P October post best gains in 20 years, all lost in last 2 days

Greece Greece on everyone tongue, do research, forget Greece, Italy is much much bigger problem, is 3rd largest economy in Eurozone, Eurpoes bail out fund $1 trillion, if collected from last weeks commitment, would not even scatch surface of Italy debt problem. etc etc

So fundies is much influenced by political BS, Manipulation, we have no control over.

TA PA we can influence, by charting, price action, levels, fibs, candle patterns, etc etc etc

Fundies alone will burn your ass
PA TA alone will burn you ass

MM RR are your greatest tools, they will save your ass over and over. Study them reassess them adapt them, fine tune them they your buddy

Example 1
"News" pa rocket or brick, bear happy bull f*&(ked or bull happy bear f**&ked bad mm rr you f^%*&*&ked

Good MM RR "News" either cash in or stopped you atleast have a chance,

Example 2

Good MM RR Trading Plan, "News" watching lower TF, rocket or brick, you green then manual manage, you red and stopped, dont entry, no chase pa, wait, go to higher TF 1hr 4hr daily, find next mofu, pa is heading to, watch reaction if pa reject mofu, wait, retest, if retest reject, enter, sl above mofu and wait, tp according to your trade plan.

Every trader make this mistake, some learn, some make over and over.

Forex is for clever people, must be cleverer than next trader, is not rocket science,

Is my daily rant trade safe kiwi
If you are new to Forex? Say Goodbye to your account!!
  • #556,839
  • Nov 1, 2011 6:09pm Nov 1, 2011 6:09pm
just kick greece out from EZ. why euro must keep country like greece ...let it survive their own
Quoting ThisPip
According to Bloomberg TV Greece to Vote on EU membership!
not euphoria follower
  • #556,840
  • Nov 1, 2011 6:12pm Nov 1, 2011 6:12pm
Quoting Kowalczyk
Is there any news that I am missing? Whats with the sudden drop.
big brother wants me to earn some short cash?
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