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  • #647,401
  • May 24, 2012 4:25pm May 24, 2012 4:25pm
Quoting Paulenok
Greece's situation is IMPORTANT. FEAR is the right word, and should be used here.
IF they do exit EURO ZONE, ladies and gentelmen, be prepared for landing.
Buy the Rumour, Sell the News

Or in this case Sell the Rumour and Buy the News

I think that makes sense
  • #647,402
  • May 24, 2012 4:28pm May 24, 2012 4:28pm
Quoting tan123
hey guys i was looking through this thread from the beginning i was wondering is this about a certain strategy
lots of different strategies on here.

momentum trading from the charts in different time frames seems to be the most prevalent.
  • #647,403
  • May 24, 2012 4:34pm May 24, 2012 4:34pm
Counter trend trading requires a tight stop.

Primary trend trading requires a wide stop.

I think that's the distinction that is necessary when talking trends and how to trade them.

Feeling very sleepy...

Look out for that counter trend in the EUR to the upside :-)
  • #647,404
  • May 24, 2012 4:35pm May 24, 2012 4:35pm
Quoting todstars2
Buy the Rumour, Sell the News

Or in this case Sell the Rumour and Buy the News

I think that makes sense
As long as it keeps one getting green pips, that indeed makes sense.
  • #647,405
  • May 24, 2012 4:41pm May 24, 2012 4:41pm
Quoting todstars2
As a contrarion, I would hazard a guess that Greece exit would send the EUR to the moon because they would have gotten rid of the dead weight.

The chart is saying the expectation is they will stay so the price continues to slide on down.

Of course there might be a momentary reaction but once it sunk in that Europe is free of this debt laden piece of crap off it goes to the moon

Just a possibilty, but very real.
Hard to be a contrarion amidst severe groupthink mentality, look at the cot reports: they keep piling on the shorts and it keeps dropping - I wonder who pays the herd?

Add in central banks who entertain this groupthink behavior and the contrarion will have a hard time. I know I am.... sheezh
  • #647,406
  • May 24, 2012 4:46pm May 24, 2012 4:46pm
Greece is important for two reasons.

1) Theatre, the theatre and fireworks of Greece exiting will move the euro at least a couple of cents, probably more.
2) Contagion, the domino effect, if Greece bailed, Spain, Portugal and Italy would see their ability to borrow money worsen and this would start to put alot of pressure on those countries meeting their agreements.

Agree, 1yr after Greece has bailed Euro probably much better for it.

But the 2 weeks after it bailed, Euro would be in dire doo doo.

Approaching the Greek election week, may be worth risking a long to hold over the weekend, polls point to a move back to the centralist pro-Euro parties, if they won, there would be a significant rally in the Euro (till the next Greek debt crisis almost guaranteed to follow).
  • #647,407
  • May 24, 2012 4:50pm May 24, 2012 4:50pm
I think nothing will change..

Greece bla bla and the rest also.

UP and DOWN between 1.20 and 1.50 as usual remains.

I dont care if Greece will left or stay.

But they will stay, thats for sure
How to opt out annoying user signatures ??
  • #647,408
  • May 24, 2012 4:54pm May 24, 2012 4:54pm
Quoting Jeheil
Greece is important for two reasons.

1) Theatre, the theatre and fireworks of Greece exiting will move the euro at least a couple of cents, probably more.
2) Contagion, the domino effect, if Greece bailed, Spain, Portugal and Italy would see their ability to borrow money worsen and this would start to put alot of pressure on those countries meeting their agreements.

Agree, 1yr after Greece has bailed Euro probably much better for it.

But the 2 weeks after it bailed, Euro would be in dire doo doo.

Approaching the Greek election week,...
Price will often tell before the news.

That's the beauty of trading just the chart, not the news or fundamentals.

Get on the trade and ride along.

Why it moved doesn't matter, just that its put you in profit
  • #647,409
  • May 24, 2012 4:58pm May 24, 2012 4:58pm
Quote
That's the beauty of trading just the chart, not the news or fundamentals.

I came to Forex trading Pink Stocks,
even in Pinks, news have a longer impact,
still only newbies believe them..

Forex News are only good for News trading.
Not more..

Sometimes i think, the Chart makes the News.
There is something strange about that..
How to opt out annoying user signatures ??
  • #647,410
  • May 24, 2012 5:00pm May 24, 2012 5:00pm
Hi everyone... can someone please tell me what is the APR in the USA?
  • #647,411
  • May 24, 2012 5:03pm May 24, 2012 5:03pm
to use a metaphor from Charles Dow originator of classic technical analysis.

Everyday the Tide comes in and goes out.

Stick a stake in the sand at the high and low point.

Within every wave there are ripple waves doing the same thing, sometimes going against the the major move of the tide.

Those are counter trends or reactions.

The real money is in catching the long primary wave at the low tide point and riding it in to the high water mark or in reverse.

Regardless of the ripple waves within it.
  • #647,412
  • May 24, 2012 5:05pm May 24, 2012 5:05pm
Quoting Warwick
Hard to be a contrarion amidst severe groupthink mentality, look at the cot reports: they keep piling on the shorts and it keeps dropping - I wonder who pays the herd?

Add in central banks who entertain this groupthink behavior and the contrarion will have a hard time. I know I am.... sheezh
I think you have the whole concept of contrarion wrong. When people are buying, you should be buying too. The way I see it, when EVERYONE is saying this is going to go so high you would have to be stupid not to buy here, that is when you sell. There is a famous contrarion indicator, when you walk into a restaurant in NYC and 9 out of 10 people are talking about an asset (lets say Apple or Facebook), that is the time to sell.

I remember a couple of weeks ago Apple (AAPL) was 640.00 and had made a huge run. Nearly every analyst (like 92-95% of analysts) was saying it going to $700, or $1000, you need to buy right now. That was the time to sell.

The point is, you do not sell it when everyone is buying, you sell is after everyone is done buying and it had made a huge run.
  • #647,413
  • May 24, 2012 5:07pm May 24, 2012 5:07pm
Quoting rbbotero
Hi everyone... can someone please tell me what is the APR in the USA?
APR is actual percentage rate. It is the interest rate that includes all closing cost and other fee's and is required by law.
  • #647,414
  • May 24, 2012 5:08pm May 24, 2012 5:08pm
Quoting Kowalczyk
APR is actual percentage rate. It is the interest rate that includes all closing cost and other fee's and is required by law.
Thanks Kowalczyk, what I meant is what is the percentage rate...
  • #647,415
  • May 24, 2012 5:08pm May 24, 2012 5:08pm
Quoting almo
I think every newbie needs to print this one. Well said!
Done
"I am still learning" - Socrates
  • #647,416
  • May 24, 2012 5:10pm May 24, 2012 5:10pm
Quoting Toranaga
I came to Forex trading Pink Stocks,
even in Pinks, news have a longer impact,
still only newbies believe them..

Forex News are only good for News trading.
Not more..

Sometimes i think, the Chart makes the News.
There is something strange about that..
No, i'd say you are right about the charts making the news. The price will always follow the trends. The news will always play catch up.

If we get bad news from the US, that could mean a weaker economy, EUR/USD falls or it could mean a higher probability of QE3, EUR/USD rises.
  • #647,417
  • May 24, 2012 5:12pm May 24, 2012 5:12pm
Quoting rbbotero
Thanks Kowalczyk, what I meant is what is the percentage rate...
That is the annual interest rate. For example, if I have a $10,00 loan with a 3% interest rate, after a year the balance will be $10,300. After the second year, it will be $10,300 plus an additional 3% ($10,609).
  • #647,418
  • May 24, 2012 5:14pm May 24, 2012 5:14pm
Quoting rbbotero
Thanks Kowalczyk, what I meant is what is the percentage rate...
And if you mean what the actual interest rate is today, you are looking for the Fed Fund Rate. Yesterday, it was .15% but can range anywhere from 0-.25%. Today's rate should be out later.

http://www.newyorkfed.org/markets/om...dfundsdata.cfm
  • #647,419
  • May 24, 2012 5:21pm May 24, 2012 5:21pm
Quoting Kowalczyk
I think you have the whole concept of contrarion wrong. When people are buying, you should be buying too. The way I see it, when EVERYONE is saying this is going to go so high you would have to be stupid not to buy here, that is when you sell. There is a famous contrarion indicator, when you walk into a restaurant in NYC and 9 out of 10 people are talking about an asset (lets say Apple or Facebook), that is the time to sell.

I remember a couple of weeks ago Apple (AAPL) was 640.00 and had made a huge run. Nearly every analyst (like 92-95%...
I think we are saying the same thing, just differently.

to use a metaphor from Charles Dow originator of classic technical analysis.

Everyday the Tide comes in and goes out.

Stick a stake in the sand at the high and low point.

Within every wave there are ripple waves doing the same thing, sometimes going against the the major move of the tide.

Those are counter trends or reactions.

The real money is in catching the long primary wave at the low tide point and riding it in to the high water mark or in reverse.

Regardless of the ripple waves within it.
  • #647,420
  • May 24, 2012 5:32pm May 24, 2012 5:32pm
Quoting Kowalczyk
I think you have the whole concept of contrarion wrong. When people are buying, you should be buying too. The way I see it, when EVERYONE is saying this is going to go so high you would have to be stupid not to buy here, that is when you sell. There is a famous contrarion indicator, when you walk into a restaurant in NYC and 9 out of 10 people are talking about an asset (lets say Apple or Facebook), that is the time to sell.

I remember a couple of weeks ago Apple (AAPL) was 640.00 and had made a huge run. Nearly every analyst (like 92-95%...

Usually you want to BUY when there is panic and there is a high volume up thrust... you look for a retrace (your risk is limited in that case). You want to SELL in a frenzy after a high volume stopping volume or when there is no demand, following a retrace.

Usually you need to minimize risk so if it comes close to the initial breakout you can take a trade with the SL on the other side... if it doesn't work its probably not changing trend yet dont force it.
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