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EurAnalysis Kindergarten 24 replies

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  • #11,341
  • Nov 23, 2011 2:59am Nov 23, 2011 2:59am
Quoting FX Tsunami
But everytime, i say to myself "you are new, you will learn things"... But that is gradually failing....
Your brain can absorb only certain amount of information. Have a break. It is very easy to get information overflow in here which will eventually result in apathy.
"I know one thing, that I know nothing." Sokrates
  • #11,342
  • Nov 23, 2011 2:59am Nov 23, 2011 2:59am
Quoting PipTrapper
My pleasure.

I would like to also draw your attention to your signature line

"You will get nothing without hardwork, what you get without hardwork will not last for long"

I would be inclined to change that to

"You will get nothing without a positive mental attitude (PMA). What you get without that will not last for long"

Cheers
PT

Roger that !!!
  • #11,343
  • Nov 23, 2011 2:59am Nov 23, 2011 2:59am
Quoting Alorente
Congrats!!!
Thank you
Those who say it cannot be done should not interrupt those who are doing it
  • #11,344
  • Nov 23, 2011 3:00am Nov 23, 2011 3:00am
Quoting FX Tsunami
Roger that !!!
Oh and change your tag line as well "The ultimate looser"? How about "The winning attitude"?
Those who say it cannot be done should not interrupt those who are doing it
  • #11,345
  • Nov 23, 2011 3:03am Nov 23, 2011 3:03am
Quoting Tom_D_Trader
Your brain can absorb only certain amount of information. Have a break. It is very easy to get information overflow in here which will eventually result in apathy.
Yes yes.... I'll never leave "EurAnalysis" .... Maybe i wont comment... but i will be reading and learning.... One day i'm sure i will gain enough knowledge to argue with you guys.....
  • #11,346
  • Nov 23, 2011 3:06am Nov 23, 2011 3:06am
Quoting Blobik
Hey guys, any ideas how long is this ranging period going to last? BOOORING .

I didn't check my demo positions in a while, as since I paused my live trading I noticed that I was putting many other things "for later" and now my duties piled up, so I barely have time to look at any chart.

But it seems that so far I was right, that commodities will be biased to the downside (I suddenly changed my mind, when oil and gold broke their rising channels 6 days ago... too bad I was holding longs then). So EUR should get biased down as well...
Sometimes, even when the technicals are screaming for a bullish correction, the fundamentals are so strong that all rules are broken.
I don't think you were trading in 2008 but I was and I can assure you that the majority of the FX traders who lost money back then were the ones who were sure that the technicals were screaming at them to go long, and they listened. I know you're not going long here but I just wanted to make a point. When the market is in fear mode, corrections are limited to maybe a 23.6% or 38.2% fibo retracement. In calmer markets, then you get to see 61.8 to 78.6 and sometimes even 88.6 and double tops/bottoms.
Those who say it cannot be done should not interrupt those who are doing it
  • #11,347
  • Nov 23, 2011 3:08am Nov 23, 2011 3:08am
Quoting Tom_D_Trader
I think we had quite nice conversation about this topic yesterday. Conclusion was:

Inflation is bad when nation is unable to produce enough GDP to pay for rising costs of import.

So I agree from this point of view. In the end, it is bad.

But to the topic of how long it is good? Well, from long term point of view, imo inflation is never good . Because it gives people false illusion of production and then they become lazy. Thats why I called it cocaine.

Inflation is "free" GDP. Free for the lazy ones, who just get money from state,...
Inflation increases the incentive to both consume and invest. Money buried in the back yard loses value. And the opposite of inflation... deflation... usually (though not always) comes hand in hand with depression.

As far as the well being of citizens, it is the cost of living compared to income. If both are going up, everything is fine. If not, not so good

I am unclear that inflation is tied to the socialist state. In fact, for the the current leaders in socialism, the European nations and the Japanese inflation is not a problem. Whats more, if they actively encourage inflation, they might find their way out of the deficit mess.
Kill the ego, or it will kill the mission.
  • #11,348
  • Nov 23, 2011 3:08am Nov 23, 2011 3:08am
Quoting PipTrapper
Oh and change your tag line as well "The ultimate looser"? How about "The winning attitude"?
Changed
  • #11,349
  • Nov 23, 2011 3:13am Nov 23, 2011 3:13am
Quoting Blobik
Hey guys, any ideas how long is this ranging period going to last? BOOORING .

I didn't check my demo positions in a while, as since I paused my live trading I noticed that I was putting many other things "for later" and now my duties piled up, so I barely have time to look at any chart.

But it seems that so far I was right, that commodities will be biased to the downside (I suddenly changed my mind, when oil and gold broke their rising channels 6 days ago... too bad I was holding longs then). So EUR should get biased down as well (when...
My intuition agrees with you
Kill the ego, or it will kill the mission.
  • #11,350
  • Nov 23, 2011 3:16am Nov 23, 2011 3:16am
Still some significant news ahead.

EZ PMI data was mixed but still not promising.

Next up that is major will be from the US.

Here is the list. All times are CET (GMT+1)

Attached Image (click to enlarge)
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Those who say it cannot be done should not interrupt those who are doing it
  • #11,351
  • Nov 23, 2011 3:19am Nov 23, 2011 3:19am
Quoting Tom_D_Trader
Thats my favourite entry . But if you have seen Toms rating I posted two days ago, those #5 trades were exactly from this. Nevertheless, those #1 as well and they made me nice profit.
Need to learn for that age old predatory skill... wait for signs of weakness and then go for the kill. Taking the bull by the horns will work as long as the market is ranging or trending in your direction. But the moment the trend reverses... you are bull bait.
Kill the ego, or it will kill the mission.
  • #11,352
  • Nov 23, 2011 3:22am Nov 23, 2011 3:22am
Quoting AaronWard
Need to learn for that age old predatory skill... wait for signs of weakness and then go for the kill. Taking the bull by the horns will work as long as the market is ranging or trending in your direction. But the moment the trend reverses... you are bull bait.
Bull bait? By that time the bull has already eaten you up so I'd say you are more BS than BB
Those who say it cannot be done should not interrupt those who are doing it
  • #11,353
  • Nov 23, 2011 3:25am Nov 23, 2011 3:25am
From the Wall Street Journal ......

Consider the Nitty-Gritty of a Euro Collapse

http://online.wsj.com/article/SB1000...893340870.html
Trading Levels with WRBs
  • #11,354
  • Nov 23, 2011 3:29am Nov 23, 2011 3:29am
Quoting PipTrapper
Bull bait? By that time the bull has already eaten you up so I'd say you are more BS than BB
BS is, of course, one of my 4 key trading tactics.

How about bull bait and BS? You see, what the "take the bull by the horns bear" does after having failed once, he then repeats again and again. Being gored once only encourages him. So he is still bull bait.

Then, several hundred pips later, he discoveres that he has multiple underwater positions. Any single position is not a big deal, but all together they add up to one medium to large position. Now he is in real trouble.
Kill the ego, or it will kill the mission.
  • #11,355
  • Nov 23, 2011 3:35am Nov 23, 2011 3:35am
Leave the euro, buy dax 30, I want my TP to be hit.
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  • #11,356
  • Nov 23, 2011 3:36am Nov 23, 2011 3:36am
Quoting Alorente
I have increased my long position at 1.3448, near the bottom of the base. Both the Trix and RSI continue to show bullish divergences to price. It is hard to rationalize a long move at this point considering all the background news, but I continue to follow the indicators for now. They tell me that pressure is building towards a sudden, explosive move to the upside which should break the top wall of the wedge.

You got balls, i'll give you that.

Right now, price is eyeing the bottom support with downtrend and lower lows in play. Once that breaks we could be 100 points lower from current levels.

Only, when it breaks lower, i can start thinking of going long because then the air is out of the market.
  • #11,357
  • Nov 23, 2011 3:36am Nov 23, 2011 3:36am
Here are a few tips on how to help yourself remain calm during periods of volatility. Actually they work in all market conditions but they are especially important now more than ever.

1. Choose your lot size very wisely. Setting it to a size which forces you to take a loss after price goes 50 pips against you is a sure way of maximizing your losses. Allow yourself a 200 pip breathing space. If the trade goes in your favor, you can always scale in with more lots. This is why it is nice to have a broker that offers microlots or at least minilots.

2. Do not enter on breakouts. Only enter on pullbacks. Even better, if you want to go short, enter your short position on a swing high. Use your fib tool and trend lines to choose your entry.

3. Do not trade against the trend. Counter trading is quite profitable when you become an expert at it but don't try it in your live account until you are in fact an expert. That's what demo accounts are for.

4. Always keep your cool. Emotional control will ensure success as long as you have a winning system. Many times you can be right but end up losing because you "lose it"

I hope this helps some of you gain a better perspective.

Trade safe all

Cheers
PT
Those who say it cannot be done should not interrupt those who are doing it
  • #11,358
  • Nov 23, 2011 3:40am Nov 23, 2011 3:40am
Quoting GoldMan.
Leave the euro, buy dax 30, I want my TP to be hit.
There's major resistance at 5550. It is the falling channel support that was broken overnight.

Attached Image (click to enlarge)
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Those who say it cannot be done should not interrupt those who are doing it
  • #11,359
  • Nov 23, 2011 3:49am Nov 23, 2011 3:49am
Quoting lumesh
You got balls, i'll give you that.

Right now, price is eyeing the bottom support with downtrend and lower lows in play. Once that breaks we could be 100 points lower from current levels.

Only, when it breaks lower, i can start thinking of going long because then the air is out of the market.
Because there is key support at the bottom of the base is precisely why this is a low risk bet. My stop loss is below the base at 1.3390. I always trade what my indicators tell me to trade. The puzzle may take from now till Friday to resolve itself. WeŽll soon see.
Observation is the path to discovery.
  • #11,360
  • Nov 23, 2011 3:54am Nov 23, 2011 3:54am
Quoting Alorente
Because there is key support at the bottom of the base is precisely why this is a low risk bet. My stop loss is below the base at 1.3390. I always trade what my indicators tell me to trade. The puzzle may take from now till Friday to resolve itself. WeŽll soon see.
Yes,We are almost breaking upside
If there was easy money lying around,no one would be forcing it into your
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