Uh huh!
Those who say it cannot be done should not interrupt those who are doing it
- #46,781
- Aug 8, 2012 12:05pm Aug 8, 2012 12:05pm
- Joined Aug 2008 | Status: Persist Until Something Happens | 17,898 Posts
- #46,782
- Aug 8, 2012 12:06pm Aug 8, 2012 12:06pm
- Joined Jul 2008 | Status: "Not all information is beneficial. | 1,724 Posts
More my speed............
- #46,783
- Aug 8, 2012 12:06pm Aug 8, 2012 12:06pm
- Joined Aug 2008 | Status: Persist Until Something Happens | 17,898 Posts
Oh yeah.. the cakes look good too
Those who say it cannot be done should not interrupt those who are doing it
- #46,784
- Aug 8, 2012 12:09pm Aug 8, 2012 12:09pm
- Joined Jul 2008 | Status: "Not all information is beneficial. | 1,724 Posts
Happy Birthday Gofer. Don't drink all your dad's scotch. Save some for me. I'll be there in 18 hours
http://sendingsunshine.files.wordpre...ng?w=241&h=300
We would definitely act like 13 year olds!
Or maybe a little older!
- #46,785
- Aug 8, 2012 12:15pm Aug 8, 2012 12:15pm
- Joined Aug 2008 | Status: Persist Until Something Happens | 17,898 Posts
If only we could!
We would definitely act like 13 year olds!
Or maybe a little older!
Those who say it cannot be done should not interrupt those who are doing it
- #46,786
- Aug 8, 2012 12:34pm Aug 8, 2012 12:34pm
- | Joined Jun 2009 | Status: nothing new under the sun | 1,428 Posts
Well, I know what you mean.
This is the problem with me and "position trading"
Over last two weeks the price range was about 200-300 pips, so this flat market didn't create many opportunities for trading.
Looking on the same period from day-trader perspective, the market has created dozens of opportunities to go either long and short to grab 60-80pips long legs each.
So in total market gave to the day trader (in exactly the same period) about 1000 pips.
I am not saying you can catch ALL of them, but the chances are bigger.
What you think ?
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Allah has permitted trade and has forbidden interest [koran]
- #46,787
- Aug 8, 2012 12:41pm Aug 8, 2012 12:41pm
- | Joined Jun 2009 | Status: nothing new under the sun | 1,428 Posts
I think you are absolutely correct from a day trader's perspective. A day trader should trade both ways if he/she wants to leverage as many opportunities as possible. However, that doesn't stop one from also taking advantage of positional opportunities (with the appropriate leverage) over and above one's day trading activities.
What do YOU think?
Allah has permitted trade and has forbidden interest [koran]
- #46,788
- Aug 8, 2012 12:42pm Aug 8, 2012 12:42pm
- Joined Jul 2009 | Status: Winter is coming. Ask Kondratieff. | 8,196 Posts
"I know one thing, that I know nothing." Sokrates
- #46,789
- Aug 8, 2012 12:48pm Aug 8, 2012 12:48pm
- Joined Dec 2011 | Status: Don't put all ur eggs in one basket | 3,453 Posts
Check what ecb is doing. MRO up from 120 Bn to 130. @ 12 Bn of cash. Another roll of LTRO worth 25 Bn. Helping to tze Spanish banks, are we?
Moreover, check this quote from ecb Covered bond purchase programme 2:
[i]"In November 2011, the Eurosystem launched a second Covered Bond Purchase Programme (CBPP2), with a view to (a) easing funding conditions for credit institutions and enterprises; and (b) encouraging credit institutions to maintain and expand...
- #46,790
- Aug 8, 2012 12:54pm Aug 8, 2012 12:54pm
- | Joined Jun 2009 | Status: nothing new under the sun | 1,428 Posts
Allah has permitted trade and has forbidden interest [koran]
- #46,791
- Aug 8, 2012 1:00pm Aug 8, 2012 1:00pm
- Joined Jul 2008 | Status: "Not all information is beneficial. | 1,724 Posts
yes i am totally agree with u.its alright if ur purpose is to learn market structure and patterns but with serious money one should nt go near small time frame.even to learn markets 4hr and above are best,the maximum i like to go down is 1hr
A scalper would not go this high except to verify trend and relation to S/R levels and fibs.
Do not preach Doc.
Remember there are many ways to trade as well as many ways to skin a cat!
( Sorry Catwoman and cat lovers)
- #46,792
- Aug 8, 2012 1:04pm Aug 8, 2012 1:04pm
- Joined Aug 2008 | Status: Persist Until Something Happens | 17,898 Posts
Those who say it cannot be done should not interrupt those who are doing it
- #46,794
- Aug 8, 2012 1:07pm Aug 8, 2012 1:07pm
- Joined Dec 2011 | Status: Don't put all ur eggs in one basket | 3,453 Posts
This is an opinion.
A scalper would not go this high except to verify trend and relation to S/R levels and fibs.
Do not preach Doc.
Remember there are many ways to trade as well as many ways to skin a cat!
( Sorry Catwoman and cat lovers)
Especially in this ranging market. You have to trade what the market is willing to give. Going out on the preferable 1-4Hr TF is not efficient IMO. You can find trend on higher TF and drop down to 5-15min TF to pick your spots and bank your quick 50-100 pip scalps. - #46,795
- Aug 8, 2012 1:08pm Aug 8, 2012 1:08pm
- | Joined Jun 2009 | Status: nothing new under the sun | 1,428 Posts
You know in a way I do day trade, but I don't consider it so. I'll explain and you be the judge.
When I jump in to a position trade, it is always (or at least almost always) pre-planned with my targets for profit set. However, I rarely keep the entire position all the way to target. At some point when price hits the next major support/resistance area and I expect a corrective pullback, I take partial profits (Usually 50% or more) and let the rest ride as a positional trade. So I suppose that partial profit can be considered my day trade
Allah has permitted trade and has forbidden interest [koran]
- #46,796
- Aug 8, 2012 1:09pm Aug 8, 2012 1:09pm
- Joined Aug 2008 | Status: Persist Until Something Happens | 17,898 Posts
I've placed a sell limit order at 1.2547, expecting more Supply around 1.2550+. If PA gets up there, I think it's likely to go back down. Watching weekly and daily mostly.
Anyone else seeing this, or am i way off?
If it does get that high I will certainly join you with a giant hammer.
ADD: Why I feel we won't see 1.2547
1. 1.2440 has proven to be very tough resistance. Three days trying to penetrate it proved fruitless. It's like a solid steel chastity belt. You're not getting in.
2. There is a barrier option at 1.2450 which is well defended. This probably contributed to the strength of 1.2440.
3. 1.2500 is part of a 1.20-1.25 DNT (Double No Touch) barrier option. That's like a double chastity belt.
4. Price has already broken below 1.2340 and that confirms a triple/double top pattern. Next target to complete the pattern is 1.2250 area.
5. Because I want it to go down
Those who say it cannot be done should not interrupt those who are doing it
- #46,797
- Aug 8, 2012 1:12pm Aug 8, 2012 1:12pm
- Joined Dec 2011 | Status: Don't put all ur eggs in one basket | 3,453 Posts
- #46,798
- Aug 8, 2012 1:16pm Aug 8, 2012 1:16pm
- Joined Aug 2008 | Status: Persist Until Something Happens | 17,898 Posts
Those who say it cannot be done should not interrupt those who are doing it
- #46,799
- Aug 8, 2012 1:17pm Aug 8, 2012 1:17pm
- Joined Jul 2009 | Status: Winter is coming. Ask Kondratieff. | 8,196 Posts
"I know one thing, that I know nothing." Sokrates
- #46,800
- Aug 8, 2012 1:17pm Aug 8, 2012 1:17pm
- Joined Aug 2008 | Status: Persist Until Something Happens | 17,898 Posts
and in the above u played with the major trend only,i never seen u taking a single counter trend trade
Those who say it cannot be done should not interrupt those who are doing it