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  • #34,741
  • Jun 6, 2012 11:07am Jun 6, 2012 11:07am
Beige book better than expected.

The Fed cannot really do much now.

No stinkin QE3 needed, but I'll still wait to see what Benny has to say tomorrow.

Here's the link to the comlete report... http://www.federalreserve.gov/moneta...book201206.htm

Attached Image
Those who say it cannot be done should not interrupt those who are doing it
  • #34,742
  • Jun 6, 2012 11:11am Jun 6, 2012 11:11am
Quoting PipTrapper
Beige book better than expected.

The Fed cannot really do much now.

No stinkin QE3 needed, but I'll still wait to see what Benny has to say tomorrow.

Here's the link to the comlete report... http://www.federalreserve.gov/moneta...book201206.htm
The QE crowd disappointed again. No way Fed does QE.
  • #34,743
  • Jun 6, 2012 11:12am Jun 6, 2012 11:12am
Quoting Luis Carlos
If this is a SIMPLE abc correction these are the targets.
I forgot to put the 0.886 fib level as target.
Stocktwit: LuisCarlos - twitter: @lcparodi
  • #34,744
  • Jun 6, 2012 11:14am Jun 6, 2012 11:14am
Quoting Luis Carlos
I forgot to put the 0.886 fib level as target.
what's the price at 0.886 ?
Those who say it cannot be done should not interrupt those who are doing it
  • #34,745
  • Jun 6, 2012 11:15am Jun 6, 2012 11:15am
Quoting FXSwissTrader
The QE crowd disappointed again. No way Fed does QE.
But they might twist again like they did last summer just to look like they are doing something.

Inserted Video
Those who say it cannot be done should not interrupt those who are doing it
  • #34,746
  • Jun 6, 2012 11:17am Jun 6, 2012 11:17am
Quoting PipTrapper
what's the price at 0.886 ?
@1.2632
Stocktwit: LuisCarlos - twitter: @lcparodi
  • #34,747
  • Jun 6, 2012 11:22am Jun 6, 2012 11:22am
Quoting Luis Carlos
@1.2632
Thanks
Those who say it cannot be done should not interrupt those who are doing it
  • #34,748
  • Jun 6, 2012 11:31am Jun 6, 2012 11:31am
Hello Piptrapper,
Some weeks ago you posted some open positions screenshot from your broker. May i ask you to check for GBPCHF open positions? That would be really nice.

Btw, here is another tool - data from SaxoBank. Don't know if you guys already know it.
http://www.tradingfloor.com/tools/fx...open-positions
  • #34,749
  • Jun 6, 2012 11:32am Jun 6, 2012 11:32am
Greece Warns of Going Broke as Tax Proceeds Dry Up

http://media.cnbc.com/j/CNBC/Compone...0.standard.gif

http://www.cnbc.com/id/47700847
  • #34,750
  • Jun 6, 2012 12:28pm Jun 6, 2012 12:28pm
Quoting neuron
pull back on DXY, next support @ 82.28?
Looks like support but maybe minor? Thought suggested no QE and better than expected beige book would help support DXY a little but maybe not till bernake speaks
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  • #34,751
  • Jun 6, 2012 1:17pm Jun 6, 2012 1:17pm
Quoting Luis Carlos
That is the big problem with trade. Anybody could make pips just using trendlines, BUT Feelings, is really hard. I think I will not greedy if I will have big account.


no its nothing to do with ur bank account.ur greed and fear will increase proportionally with bigger account ,the only thing that change with ur bigger account is ur losses and gains will be bigger
say if u have 100 million dollar account u wont be satisfy with 5000 dollar gain daily.thats why ur skill as a trader are more important than the account size,if ur skilled trader u can grow ur account quite quickly even with a small amount.
luis u have good grasp of EW hence u got a method so apply urself and have disicipline, success will kiss ur feet.take things in ur stride u will be alright,dont worry.ur worry should be at the moment is prolonging ur life as a trader(that means money management) and with time everything will fall in place.
Allah has permitted trade and has forbidden interest [koran]
  • #34,752
  • Jun 6, 2012 1:31pm Jun 6, 2012 1:31pm
Quoting drzakir123
no its nothing to do with ur bank account.ur greed and fear will increase proportionally with bigger account ,the only thing that change with ur bigger account is ur losses and gains will be bigger
say if u have 100 million dollar account u wont be satisfy with 5000 dollar gain daily.thats why ur skill as a trader are more important than the account size,if ur skilled trader u can grow ur account quite quickly even with a small amount.
luis u have good grasp of EW hence u got a method so apply urself and have disicipline, success will...
Thank you DOC, I need some discipline and organization I think and a big account too!
Stocktwit: LuisCarlos - twitter: @lcparodi
  • #34,753
  • Jun 6, 2012 1:47pm Jun 6, 2012 1:47pm
Quoting Luis Carlos
Thank you DOC, I need some discipline and organization I think and a big account too!
What you need is patience. Even if you have a small account, your goals for returns have to be reasonable and realistic. Those who dream of 100% returns per month will risk too much and the first black swan event that comes along will cost them a margin call.

So, yes I agree that a bigger account will reduce greed because you can risk less % of capital and get better $ returns. However this can only be achieved AS LONG AS YOU ARE EXERCISING PATIENCE
Those who say it cannot be done should not interrupt those who are doing it
  • #34,754
  • Jun 6, 2012 1:47pm Jun 6, 2012 1:47pm
Quoting Luis Carlos
Thank you DOC, I need some discipline and organization I think and a big account too!
can i urge u to take that thought of having a big account out of ur mind becos that will impede ur growth as a trader becos every time something goes wrong u will be blaming something other than ur self,like if only i have big account than looking at the real reason for ur mistake.thats my 2 cents otherwise market will take ur big account and will leave u with only regrets.the whole idea of money managment is prolonging once life as a trader, focus on it. money will come to u if u do the right thing and after a point money has no value.God bless u.
Allah has permitted trade and has forbidden interest [koran]
  • #34,755
  • Jun 6, 2012 1:53pm Jun 6, 2012 1:53pm
Quoting iak_fx
Hello Piptrapper,
Some weeks ago you posted some open positions screenshot from your broker. May i ask you to check for GBPCHF open positions? That would be really nice.

Btw, here is another tool - data from SaxoBank. Don't know if you guys already know it.
http://www.tradingfloor.com/tools/fx...open-positions
The only one with GBP/CHF is the one from Oanda. Here it is...

Attached Image (click to enlarge)
Click to Enlarge Name: FOPR.jpg Size: 70 KB
Those who say it cannot be done should not interrupt those who are doing it
  • #34,756
  • Jun 6, 2012 1:55pm Jun 6, 2012 1:55pm
Quoting PipTrapper
What you need is patience. Even if you have a small account, your goals for returns have to be reasonable and realistic. Those who dream of 100% returns per month will risk too much and the first black swan event that comes along will cost them a margin call.

So, yes I agree that a bigger account will reduce greed because you can risk less % of capital and get better $ returns. However this can only be achieved AS LONG AS YOU ARE EXERCISING PATIENCE
PT ur a wise trader.i am saying wise becos one only have that quality after having a good background technical knowledge and experience at the right end of the chart.my self have to learn lot of things from u,particularly humbleness and disicipline.may God{Allah} help me.
Allah has permitted trade and has forbidden interest [koran]
  • #34,757
  • Jun 6, 2012 1:59pm Jun 6, 2012 1:59pm
Quoting drzakir123
PT ur a wise trader.i am saying wise becos one only have that quality after having a good background technical knowledge and experience at the right end of the chart.my self have to learn lot of things from u,particularly humbleness and disicipline.may God{Allah} help me.
Don't worry Doc. God will provide all you need. All you have to do is walk the path void of greed and selfishness. The rest will fall into place by his grace.
Those who say it cannot be done should not interrupt those who are doing it
  • #34,758
  • Jun 6, 2012 2:00pm Jun 6, 2012 2:00pm
Quoting PipTrapper
The only one with GBP/CHF is the one from Oanda. Here it is...
Thanks, i know that one and it's bit freaky thats why i ask for any other data.
Have a good night PT
  • #34,759
  • Jun 6, 2012 2:12pm Jun 6, 2012 2:12pm
Quoting drzakir123
can i urge u to take that thought of having a big account out of ur mind becos that will impede ur growth as a trader becos every time something goes wrong u will be blaming something other than ur self,like if only i have big account than looking at the real reason for ur mistake.thats my 2 cents otherwise market will take ur big account and will leave u with only regrets.the whole idea of money managment is prolonging once life as a trader, focus on it. money will come to u if u do the right thing and after a point money has no...
You are correct DOC.

I will keep researching better, Now I am looking for how capture better in the charts the EW as a fear-greed psyco tool because the way as it is applied right now by books has a lot of problems:nerd:
Stocktwit: LuisCarlos - twitter: @lcparodi
  • #34,760
  • Jun 6, 2012 2:20pm Jun 6, 2012 2:20pm
By the way changing the romantic topic. The wave 3 could be done. If we break 1.2555 is confirmed. Area to get long is (1.2545/1.2530) It should not break 1.253.
Stocktwit: LuisCarlos - twitter: @lcparodi
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