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Aussie Trading Room and Cartoons Gallery

  • #4,761
  • Aug 8, 2012 6:33pm Aug 8, 2012 6:33pm
you think post report bulls will be in the lead?
There are those who know, and there are those who don't know.
  • #4,762
  • Aug 8, 2012 6:35pm Aug 8, 2012 6:35pm
Quoting palabara
Jim Cramer is a tv personality, he may be.. outspoken, BUT he does have 30 years experience! He was also a hedge fund manger, so he rolled with the big crowed.

He also, knows what his talking about, because he speaks in general about the psychology of the markets! There is a lot of weight to what he says, and he doesn't speak out his ass.

Problem with people is, they find the wrong influences.. on their trading carriers, its been said over and over again, Market Wizards good book!
On another note, I never said don't trade without S/L's, I said "I" never put a stop loss, I know when to exit, and I sit here and wait..

because, MM's do care where your stop losses are.. Because they make money.. and I assure you, that every bit of money adds up if you have enough bits together.

As I always say, I speak from experience.
There are those who know, and there are those who don't know.
  • #4,763
  • Aug 8, 2012 6:43pm Aug 8, 2012 6:43pm
I'm short from 1.5650 also. The 4hr MACD is showing divergence and now the bad news from the kiwi is foreshadowing the Aussie news later. I'm on the boat south!
  • #4,764
  • Aug 8, 2012 6:46pm Aug 8, 2012 6:46pm
Guys I finally put together real nice template which has TDI 10EMA 200EMA and my favorite LONDON/NY separation
This set up really helps to see things clearly.
Red vertical is London Brown NY
Attached Image (click to enlarge)
Click to Enlarge Name: 15.gif Size: 16 KB
In trading, you have to be defensive and aggressive at the same time
  • #4,765
  • Aug 8, 2012 6:49pm Aug 8, 2012 6:49pm
Now, the Bull gargoyle is really coming down. I hope I am right this time.


http://www.forexfactory.com/attachme...7&d=1344457762
daddybearforex. com
  • #4,766
  • Aug 8, 2012 6:55pm Aug 8, 2012 6:55pm
Quoting DaddyBear
Now, the Bull gargoyle is really coming down. I hope I am right this time.


http://www.forexfactory.com/attachme...7&d=1344457762
It's ok.. we always got 5 out of 20 to get it right
There are those who know, and there are those who don't know.
  • #4,767
  • Aug 8, 2012 6:58pm Aug 8, 2012 6:58pm
Quoting palabara
It's ok.. we always got 5 out of 20 to get it right
I guess Daytrader74 is still waiting on the roof now.
daddybearforex. com
  • #4,768
  • Aug 8, 2012 6:59pm Aug 8, 2012 6:59pm
Quoting DaddyBear
I guess Daytrader74 is still waiting on the roof now.
Daytrader is a good guy, to many impulses though, need to mallow down. smoke a joint lol.
There are those who know, and there are those who don't know.
  • #4,769
  • Aug 8, 2012 7:05pm Aug 8, 2012 7:05pm
Quoting palabara
Daytrader is a good guy, to many impulses though, need to mallow down. smoke a joint lol.

what do you think guys about the Aussie unemployment data in 90 minutes guys ? any guess , what would be the impact ?
lets have a poll Dadybear ??
“Don't cry because it's over, smile because it happened.”
  • #4,770
  • Aug 8, 2012 7:07pm Aug 8, 2012 7:07pm
Quoting balanced2012
what do you think guys about the Aussie unemployment data in 90 minutes guys ? any guess , what would be the impact ?
lets have a poll Dadybear ??
Go with the market direction..can't lose that way
There are those who know, and there are those who don't know.
  • #4,771
  • Aug 8, 2012 7:10pm Aug 8, 2012 7:10pm
What, I'm noticing more and more.. is everyone making forex to be a giant roulette table, and hoping that their # hits. When Forex can actually be easily navigated as a nice flowing river, and ideally.. I sometimes can't see the distinction that people are in this to make money..

I like to make jokes that this is a casino sometimes, but in all reality.. if you treat it like a real job, and do the proper work and put in the proper time, it will pay as a real job, best part, you get to give yourself pay raises!
There are those who know, and there are those who don't know.
  • #4,772
  • Aug 8, 2012 7:14pm Aug 8, 2012 7:14pm
Quoting palabara
Go with the market direction..can't lose that way
Hey Palabara,
I thought you posted last week that you were away, stationed somewhere else and not as available. I'm impressed! it seems you haven't been away too much!
  • #4,773
  • Aug 8, 2012 7:19pm Aug 8, 2012 7:19pm
Quoting DonL
Hey Palabara,
I thought you posted last week that you were away, stationed somewhere else and not as available. I'm impressed! it seems you haven't been away too much!
rofl, I'm home tonight and going back tomorrow, but thanks to technology.. I've been trading all week! a little limited, only made 90 pips this week, eh.

But, my wife is pregnant, and she ended up in the hospital so, I rushed down and as I was rushing down, I was trading on the way lmao, it was a good entry, so then they said they waiting if they are going to take the baby out, doing C-section, then they said, they are going to wait 3 more weeks, and then induce.. His the next Wall Street little man lol.. My ultimate student. His going to know the stock markets in the 1st grade lol, be giving financial advice to his teacher, how to retire properly lol.

but, yeah I am going back tomorrow, but.. I've been on my phone and laptop, and now back at my working station. Can't stay away from forex I have a guy whos in Afghanistan his coming back in 3 months, wants to be my student for forex his trading from Military base in Afghanistan lol. Master Sgt.
There are those who know, and there are those who don't know.
  • #4,774
  • Aug 8, 2012 7:20pm Aug 8, 2012 7:20pm
Quoting palabara
rofl, I'm home tonight and going back tomorrow, but thanks to technology.. I've been trading all week! a little limited, only made 90 pips this week, eh.

But, my wife is pregnant, and she ended up in the hospital so, I rushed down and as I was rushing down, I was trading on the way lmao, it was a good entry, so then they said they waiting if they are going to take the baby out, doing C-section, then they said, they are going to wait 3 more weeks, and then induce.. His the next Wall Street little man lol.. My ultimate student. His going to know...
this week is still young.. its only Wednesday here.. so tonight, and tomorrow.. maybe I'll end the week at 200 pips then that will be OK week.
There are those who know, and there are those who don't know.
  • #4,775
  • Aug 8, 2012 7:21pm Aug 8, 2012 7:21pm
Quoting balanced2012
what do you think guys about the Aussie unemployment data in 90 minutes guys ? any guess , what would be the impact ?
lets have a poll Dadybear ??
Welcome B2012!

I prefer not to have a poll. I am afraid that it may sway some people's mind and cause them to make wrong decisions.

Let people figure out what they want to do independently. IMHO
daddybearforex. com
  • #4,776
  • Aug 8, 2012 7:21pm Aug 8, 2012 7:21pm
palabara (http://www.forexfactory.com/palabara)
"I was listening to Jim Cramer last night, and he said.. if you can't be there to execute your trades, then you shouldn't be trading, I agree with that."

That may be true if you scalp but overall I disagree, what works for some doesn't work for others. Depends on your time frame and how much time you have to trade. For some it's their job for others it's part time. Each has to find what works for them with their goals and can learn from the advice of many others, hence the use of forums like this.

Whilst still learning I would venture that risk management is essential. Doesn't mean you have to use stops (depends on your ability to monitor price action) but you should have a plan when you enter a trade. What will you do if price goes in your favour? What will you do if it goes against you? Keeping a trading journal, what you did right and wrong also highly recommended.

Personally I try and keep some longs and shorts at any one time so that I can profit whichever way price goes and hold the others for longer as much is cyclical. Obviously this works better the more I stick to buy low, sell high. Presently I am of similar view to
Kaizen FX
"atm i see this pair is so strong and im really waiting for a huge retracement"

I have been surprised by the strength of AUD in light of Europe mess but carry trade says it still has some room to go up. Whether it does is another question. Historically we are 500 pips from highest ever and 1100 pips from the low seen in same time so logic says to look more at shorting from this point. The danger is that price is not bound by those limits and that distance from those points is no indication of how long it will take to reach them.

not sure I understand what is referred to as dynamic vs static entry..... can someone explain?
Hope for the best, prepare for the worst.
  • #4,777
  • Aug 8, 2012 7:25pm Aug 8, 2012 7:25pm
Quoting dab
palabara (http://www.forexfactory.com/palabara)
"I was listening to Jim Cramer last night, and he said.. if you can't be there to execute your trades, then you shouldn't be trading, I agree with that."

That may be true if you scalp but overall I disagree, what works for some doesn't work for others. Depends on your time frame and how much time you have to trade. For some it's their job for others it's part time. Each has to find...
First, the plan.. I say that all the time, that you must have a plan.. So thats right on the money!

Dynamic vs static means.. Dynamic is that you are there to control your positions, as the market fluctuates and static means, you use.. limit orders I.e you set up buy/sell t/p and s/l and wait for them to be executed.

and yes, Jim cramer.. I listen to him every so often he talks about stock markets mostly, not my field, but when he talks about markets in general sense.. something I can relate too.

I personally don't like the stock market.. What he said, yesterday comes down to why.. I don't like them.. But, I like Indexs because, they are a separate entity.

I like forex, cause I've been doing it for to many damn years.. and I like.. things that are.. potentially stand on their own.
There are those who know, and there are those who don't know.
  • #4,778
  • Aug 8, 2012 7:30pm Aug 8, 2012 7:30pm
Quoting dab
not sure I understand what is referred to as dynamic vs static entry..... can someone explain?
I was the one made up those words.

When placing a fixed limited order waiting for something to happen, I call it static entry. It's like a trap set up by a farmer.

When placing a market order after watching the PA moving to the range, I call this dynamic entry. It's like an action carried out by a hunter.
daddybearforex. com
  • #4,779
  • Aug 8, 2012 7:32pm Aug 8, 2012 7:32pm
Thanks Palabara!

I like dynamic and static. Can be hard to see price go your way and then against you so my ideal situation is to have multiple entries and be able to try and close one at target near support / resistance and hold other for longer term. If have closed one at target and price goes against me I can then reopen. I find this a way to have one foot in for following the trend and another for trading ranging market.
Hope for the best, prepare for the worst.
  • #4,780
  • Aug 8, 2012 7:35pm Aug 8, 2012 7:35pm
Quoting dab
Thanks Palabara!

I like dynamic and static. Can be hard to see price go your way and then against you so my ideal situation is to have multiple entries and be able to try and close one at target near support / resistance and hold other for longer term. If have closed one at target and price goes against me I can then reopen. I find this a way to have one foot in for following the trend and another for trading ranging market.
that's an interesting concept. Multiple entries.. close one and hold the other.. Hrm.
There are those who know, and there are those who don't know.
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