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  • #12,841
  • May 22, 2012 8:24am May 22, 2012 8:24am
Hi Ok this one. Thanks
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  • #12,842
  • May 22, 2012 8:28am May 22, 2012 8:28am
Quoting countpips
Hi Ok this one. Thanks
Nah sorry......I don't trade smoothed ha candles so I can't comment on them
Doing what you like is Freedom. Liking what you do is Happiness.
  • #12,843
  • May 22, 2012 8:39am May 22, 2012 8:39am
Ok It was the trade on the chart with vertical line at 4:45 am on 21 May. Why was this one not taken?

Thanks

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  • #12,844
  • May 22, 2012 9:23am May 22, 2012 9:23am
Quoting countpips
Ok It was the trade on the chart with vertical line at 4:45 am on 21 May. Why was this one not taken?

Thanks

Ok...that's better!! The reason is is I want to see the stoch begin it's journey from oversold or overbought conditions......which that wasn't. The market was consolidating in that area so it's a bit tricky to pick a perfect entry and often we just have to play catch up. That trade you marked might have worked....but to my way of thinking I would rather let it go and wait for a higher probability trade, or else go find a better looking trade on another pair.

Trading isn't an exact science and sometimes we have to let trades go that don't meet our requirements......and perfect trade will come along soon enough, or else go find one on another currency pair.

I just take the high probability trades and let the rest go.....like the trade you marked.
Doing what you like is Freedom. Liking what you do is Happiness.
  • #12,845
  • May 22, 2012 9:46am May 22, 2012 9:46am
Ok Thanks realjumper. I've seen a lot of situations like that and just wanted
to get a feel about them from the more experienced traders for weather or not I should pull the trigger on them. Good explanation.
  • #12,846
  • May 22, 2012 9:48am May 22, 2012 9:48am
All this bad news out of Europe Greece in flames, riots in the street, EU Administrations voted out of office.....and the Euro rises???? Why? Can you say conspiracy???

That is right!!! We all learn today about the super secret Liquidity pump by the ECB to prop up Greece today (http://www.cnbc.com/id/47513542) so that no Greek Bank runs out of Euros....That means more Euros in the market and the price should drop against the USD according to basic laws of Supply and Demand, right???

Not so, because the 100 billion is coming from none other than the USA Federal Reserve ineffort to keep the USD weak against the Euro.

Sound crazy? Not really if you think about it....this is the USA Federal Reserves idea of self preservation.

Can you say M A R K E T M A N I P U L A T I O N.....??

Evaluator.:nerd:

P.S. If a person or business does this in the Western World you go to jail!


Propping Up the Euro

by Dave Schuler

one bond auction at a time. The central banks of the United States, Japan, the United Kingdom, Canada, Switzerland, and the European Central Bank have announced a coordinated effort to prop up the euro:

The Bank of Canada, the Bank of England, the Bank of Japan, the European Central Bank, the Federal Reserve, and the Swiss National Bank are today announcing coordinated actions to enhance their capacity to provide liquidity support to the global financial system. The purpose of these actions is to ease strains in financial markets and thereby mitigate the effects of such strains on the supply of credit to households and businesses and so help foster economic activity.
These central banks have agreed to lower the pricing on the existing temporary U.S. dollar liquidity swap arrangements by 50 basis points so that the new rate will be the U.S. dollar overnight index swap (OIS) rate plus 50 basis points. This pricing will be applied to all operations conducted from December 5, 2011. The authorization of these swap arrangements has been extended to February 1, 2013. In addition, the Bank of England, the Bank of Japan, the European Central Bank, and the Swiss National Bank will continue to offer three-month tenders until further notice.

The word for today, apparently, is “coordinated”. I’m seeing it pop up everywhere.
There has been a flurry of commentary on the central banks’ moves. I note with some satisfaction that former Fed governor Randall S. Kroszner at Freakonomics has seen the analogy between the situation that the members of the EMU face and that of the various states under the Articles of Confederation in 1780:

In all of this, it is crucial that the ECB be able to maintain its independence and credibility. The ECB can provide liquidity support to the banking and financial system, both through short-term and longer-term lending, much as the Federal Reserve did during the crisis. Encouraging European banks to obtain dollar funding through the Fed-ECB swap line arrangement would also reduce liquidity pressures that could spill over to U.S. institutions. Simply having the ECB buy the debt of troubled member states, however, will not solve the fundamental fiscal and governance problems that are necessary to sustain the Euro. Otherwise, we run the risk of “Not worth a Euro” replacing “Not worth a Continental.”

Megan McArdle see the moves as just another Band-Aid:

This is a band-aid. It’s a good band-aid. But making it easier for local banks to borrow in dollars does not, in the end, fix any of the problems with the euro-zone. It just delays the rate at which the current sovereign crisis turns into a banking crisis.

I think it’s somewhat less than a Band-Aid. It’s just trying to prevent retreat from turning into a rout. The bankers are merely trying to get through the next bond auction. What will they do for the next? Or the next?
  • #12,847
  • May 22, 2012 6:12pm May 22, 2012 6:12pm
Quoting Evaluator
All this bad news out of Europe Greece in flames, riots in the street, EU Administrations voted out of office.....and the Euro rises???? Why? Can you say conspiracy???
Haven't noticed EU do a lot of rising over the last 24 hours.
  • #12,848
  • May 22, 2012 6:36pm May 22, 2012 6:36pm
Quoting Evaluator
Can you say M A R K E T M A N I P U L A T I O N.....??
Well that's been happening since Adam was in short pants......we see it almost every day. However it's not a big issue, in fact it's not an issue at all unless you're trying to make ultra long term trades using a method that is outside the scope of this thread, which I notice some people trying to do.

The PA does not, and will not, suddenly gap 500 pips because Draghi, or ECB or Greece or Obama says or does something......it doesn't work that way. There may well be a rapid rise or fall of 500 pips or more at any time, for any reason, but it won't happen in the blink of an eye.....it will happen over a period of time.....and Symphonie will catch it no matter which way it goes.

It's always good to keep an eye on the longer term charts, but getting too much into it to any depth will cause the marriage ceremony to begin!!!

This can be a major psychological hurdle for a trader....it leads to perma bear/bull thinking and that leads to lost opportunities.....and it can even lead to the dreaded 'catching falling knife' trap.....and that can kill accounts.

The EU *should* go down.....and in time it probably will. Yelena is right.....there has to be some retrace first. How high will the retrace go?.....who knows?.......how long will it last?......who knows? The retrace might end tomorrow.....it might end next month.....no one knows.

Symphonie system WILL catch the movements no matter where or when they happen.....and that's what this thread is all about.

RJ
Doing what you like is Freedom. Liking what you do is Happiness.
  • #12,849
  • May 22, 2012 8:52pm May 22, 2012 8:52pm
hey guys havent been on this thread for a week or two.. ive been over at the extreme tma thread learning some new things.. I've incorpered the tma bands onto my charts along with symphony.. They really help filter bad trades when price is hitting extremes.. ie. you wouldnt take a long if price is already near the top bands.. and you wouldnt short if price is near the bottom bands. Looks very promising.. for now I gotta get some sleep to wake up bright and early to trade.

I'll post up my new indis and a pic of the template once I'm up.. cheers!
  • #12,850
  • May 22, 2012 9:03pm May 22, 2012 9:03pm
Quoting Dyekid217
hey guys havent been on this thread for a week or two.. ive been over at the extreme tma thread learning some new things.. I've incorpered the tma bands onto my charts along with symphony.. They really help filter bad trades when price is hitting extremes.. ie. you wouldnt take a long if price is already near the top bands.. and you wouldnt short if price is near the bottom bands. Looks very promising.. for now I gotta get some sleep to wake up bright and early to trade.

I'll post up my new indis and a pic of the template once I'm up.. cheers!...
Don't post your template please. Prove it to yourself first. You say it looks very promising.....please take the time to test it thoroughly before posting it here. Otherwise, this thread will get full of questions relating to unproven theories that deviate from the system that this thread is promoting.

If your tests *prove* to be profitable over a period of testing in various market conditions, then it may be valuable to post it here.

Everything we post here in the way of indicators etc that enhance Symphonie, have been tested over an extended period in all market conditions.

Please do your testing thoroughly.....and then perhaps ask someone else to also test it and see if they can replicate the success of the additions.

This is not a put down kid.......just trying to not fill this excellent thread up with unproven theories and drag it down to the level of many other threads at FF.

RJ
Doing what you like is Freedom. Liking what you do is Happiness.
  • #12,851
  • May 22, 2012 9:19pm May 22, 2012 9:19pm
Quoting Dyekid217
Great stuff rj. Like many have said before. Trading is easy. The hard part is finding what works. Ie a method of swimming. But system hopping will get you nowhere. Trust me I've been through most of the popular threads here.

But consistency achieving the same results. How can you have the same results with 20 different methods. It's impossible. Find what works with this system and it will pay off in the long run

Remember it's a marathon not a wind sprint
Remember this post kid??
Doing what you like is Freedom. Liking what you do is Happiness.
  • #12,852
  • May 22, 2012 11:38pm May 22, 2012 11:38pm
Quoting realjumper
Remember this post kid??
  • #12,853
  • May 23, 2012 2:26am May 23, 2012 2:26am
GU H1 Bullish Divergence forming....
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Doing what you like is Freedom. Liking what you do is Happiness.
  • #12,854
  • Edited 3:04am May 23, 2012 2:33am | Edited 3:04am
Quoting realjumper
GU H1 Bullish Divergence forming....
yep, i'm long at .5740 (kind of support level), tight sl as counter-trend.

Edit :
- Moved to 5744, no risk ... Will let it run until SL hit or BOE Minutes
- Closed +4, will renter lower ...
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  • #12,855
  • May 23, 2012 3:36am May 23, 2012 3:36am
Quoting realjumper
GU H1 Bullish Divergence forming....
The divergence is still holding true....even better than before in fact, but still not confirmed.

As a side issue.....see the GU pa falling big time before the news was released? This happens time and time again lately, which is great for us, but it does make me wonder which big player(s) get this news before the rest?....hmmmmm
Doing what you like is Freedom. Liking what you do is Happiness.
  • #12,856
  • May 23, 2012 4:26am May 23, 2012 4:26am
Have I mentioned lately that I love Symphonie on H1. Aus, EU, EJ and GU over 400 pips since yesterday afternoon my time
  • #12,857
  • May 23, 2012 4:34am May 23, 2012 4:34am
Quoting ohammond
Have I mentioned lately that I love Symphonie on H1. Aus, EU, EJ and GU over 400 pips since yesterday afternoon my time
nice profit.....
  • #12,858
  • May 23, 2012 4:46am May 23, 2012 4:46am
hai.....
those to people follow EU....if line penetrate 1.2690, look like it move up.
  • #12,859
  • May 23, 2012 5:26am May 23, 2012 5:26am
Quoting Rosdellfx
hai.....
those to people follow EU....if line penetrate 1.2690, look like it move up.
Do you trade symphonie?
Doing what you like is Freedom. Liking what you do is Happiness.
  • #12,860
  • May 23, 2012 5:27am May 23, 2012 5:27am
Quoting ohammond
Have I mentioned lately that I love Symphonie on H1. Aus, EU, EJ and GU over 400 pips since yesterday afternoon my time
Nice going......very nice
Doing what you like is Freedom. Liking what you do is Happiness.
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