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  • #6,201
  • Aug 16, 2012 4:00am Aug 16, 2012 4:00am
Bulls have that strength to break the channel ?
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  • #6,202
  • Aug 16, 2012 5:05am Aug 16, 2012 5:05am
A Twezeer Top....,
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  • #6,203
  • Aug 16, 2012 6:00am Aug 16, 2012 6:00am
Quoting fxstir
Hello,

Thank you for such an entertaining and educational thread. Forex trading is a lonely business and I have really enjoyed the cartoons and comments here.

With regards to China, I think they will have a harder landing than anticipated. And, this will affect the Aussie dollar. However, over the long term, China is better positioned to come out of this mess. First of all, China has ZERO DEBT. Credit cards didn't exist in China until recently. In addition, Chinese strategic planning is done for 100 years. It isn't done until...
Nice Post mate
If there was easy money lying around,no one would be forcing it into your
  • #6,204
  • Edited 6:37am Aug 16, 2012 6:21am | Edited 6:37am
Long or short? someone tell me so I can place a 5 lot trade
  • #6,205
  • Aug 16, 2012 6:45am Aug 16, 2012 6:45am
Quoting Daytrader74
Long or short? someone tell me so I can place a 5 lot trade
If you are confident in double top - short
  • #6,206
  • Aug 16, 2012 6:54am Aug 16, 2012 6:54am
Quoting bouble
If you are confident in double top - short
I'll be risking $50 per pip, so are you sure I should go short??
  • #6,207
  • Aug 16, 2012 6:54am Aug 16, 2012 6:54am
I am on vacation in Australia at the moment, so have only just caught up with the last few days posts. As an Aussie who has lived in China the last 7 years, and travelled there for 10 years prior, I have to laugh when I read what some people have written here.

I own my own business in Beijing, providing consulting services to my clients. My clients include Rio Tinto, BHP-B, BP, Conoco Phillips and many other large multinationals. I also write articles for the trade press, and am quoted regularly by WSJ, Reuters, Dow Jones Newswires and others. I am guest speaker on a monthly forum for Thomson Reuters on China's aluminium market. I also speak a little Chinese, and my wife is Chinese. So I humbly suggest I know a little bit about China.

And what I know is, the more people carry on about "China this" or "China that", the less they really know and understand about the place.

To say that the Chinese don't notice food price inflation is laughable. Food prices have risen enormously, and shortages occur regularly. Corruption is causing more and more angst. nationalism is rising, to the point that we foreigners are getting less and less welcome, both officially and unofficially. My little business has to pay social security for our foreign employees even though we aren't allowed to utilise the services. The term "foreign trash" is gaining currency alarmingly.

But to summarise China in a paragraph or two is to simplify the place beyond all recognition. And the other inescapable fact is that any data that you see that comes from official sources is almost certainly wrong. I can give you countless examples of numbers such as PMI, steel production, aluminium production and so on, which are blatantly wrong. One example - the official data for aluminium production doesn't include any plant that got built without approval from Beijing. That means almost 2 million tons per year goes unreported.

Don't start me on China - I'm on vacation.
  • #6,208
  • Aug 16, 2012 7:00am Aug 16, 2012 7:00am
Quoting bouble
If you are confident in double top - short
Have you ever heard of triple top?
daddybearforex. com
  • #6,209
  • Aug 16, 2012 7:02am Aug 16, 2012 7:02am
Quoting Daytrader74
I'll be risking $50 per pip, so are you sure I should go short??
So, you do not confident.
  • #6,210
  • Aug 16, 2012 7:02am Aug 16, 2012 7:02am
Quoting pauladkinsau
I am on vacation in Australia at the moment, so have only just caught up with the last few days posts. As an Aussie who has lived in China the last 7 years, and travelled there for 10 years prior, I have to laugh when I read what some people have written here.

I own my own business in Beijing, providing consulting services to my clients. My clients include Rio Tinto, BHP-B, BP, Conoco Phillips and many other large multinationals. I also write articles for the trade press, and am quoted regularly by WSJ, Reuters, Dow Jones Newswires and others....
i agreed with that, with a country that big, and corruption going on alike vietnam, thailand and many south east asia, its no surprise alot of people are not reporting the real results or data, most are evading taxes as well and through paying local officials. why would anyone of common sense want to report higher and better data? that they get to be tax more only..

China are rich... because they only see money. hua ren gan qian.
  • #6,211
  • Aug 16, 2012 7:03am Aug 16, 2012 7:03am
Quoting DaddyBear
Have you ever heard triple top?
Oh. yes if it has triple short it again.
  • #6,212
  • Aug 16, 2012 7:09am Aug 16, 2012 7:09am
Quoting 5percent
i agreed with that, with a country that big, and corruption going on alike vietnam, thailand and many south east asia, its no surprise alot of people are not reporting the real results or data, most are evading taxes as well and through paying local officials. why would anyone of common sense want to report higher and better data? that they get to be tax more only..

China are rich... because they only see money. hua ren gan qian.
Pleased of my country.

You right, but every country has corruption or not?
  • #6,213
  • Aug 16, 2012 7:09am Aug 16, 2012 7:09am
Daddy, I just wonder who dares to long Aussie when they see weekly chart?
  • #6,214
  • Aug 16, 2012 7:09am Aug 16, 2012 7:09am
Quoting Robot Trader
The Chinese government made a fortune from the West by exploiting it own people through low wages to provide goods that were based either on stolen or copyright Western technology. They have used part of this money to bring what was a very backward country into the modern world, but millions of its people have lived like peasants for hundreds of years, they live off the land and have had to be enticed away from their communities to work in the new factories. These new factory workers might have the disposable income you mention, but the majority...
Western countries do not have a monopoly on innovation. Its pretty arrogant to think so. Plus remember three centuries ago it was the British copying* technology from China, two centuries ago it was Americans copying* technology from the British. Two decades it was the Japanese copying* technology from the Americans. (* - stealing implies the original inventor does not have access to the technology anymore) So its all relative. Even now its not like the Chinese government are forcing these foreign companies to go and build factories in China either.

BTW Chinese workers are only poor individually by dollar standards because of the exchange rate peg, if you judge their income by Purchasing Power Parity, they're actually only a little bit below the average US wage and combined in PPP terms are already better than the US. If you think Chinese workers are all poor peasants who can't afford anything then all these foreign companies wouldn't be scrambling all over each other for a slice of the pie.

Eg. Already American casinos operators rake in more revenue from Macau than their entire Las Vegas strip casinos. Biggest growth story for apple this year has been the explosion of their icrap sales in China, its revenues from China has exceeded the entire eurozone area and are only behind the North American market. Similarly for BMW, China is now its most profitable market, surpassing the US, with its eurozone operations at breakeven. Does this sound like a country filled with poor peasants who can't afford anything??

Finally when I hear comments complaining about cheap Chinese goods flooding the market, you guys don't realise how lucky you are. Its like you think you're doing China a favor by buying Chinese goods when its the other way around. The low cost of Chinese imports is probably the only thing putting downward pressure on inflation in the face of successive money printing operations by western governments. Not to mention they make up the backbone of most western retail sectors by providing them with a product that they can import and be able to mark up the price multiple times without doing anything. China has a monopoly on global manufacturing, but they're still willing to exchange real goods for what is essentially worthless pieces of paper and do it a cheap price at that. If I was in charge of China, I'd be more like OPEC and use my monopoly position to squeeze more money and concessions everytime they complain about imports.
  • #6,215
  • Aug 16, 2012 7:12am Aug 16, 2012 7:12am
someone know about bguguen? if yes,is he mentally ill??
Sometimes it's better to be wrong,to learn..
  • #6,216
  • Aug 16, 2012 7:13am Aug 16, 2012 7:13am
Quoting bouble
Pleased of my country.

You right, but every country has corruption or not?
indeed most country have high level of corruption, the problems lies in control and law. My wife is from vietnam, and the country is really @_@, policeman are the daylight robbers, the government goes around to claim lands from the farmers, occupy their land and food as well and make things difficult for the commoners.


Take singapore and hongkong for example, try to evade anything against the law and see what happen lol..

true that smaller country are easier to manage, but countries like vietnam , russia, china, how to manage ?? its more like every province have its own mafia government, they do what they like and report to the central government.
  • #6,217
  • Aug 16, 2012 7:24am Aug 16, 2012 7:24am
Quoting 5percent
indeed most country have high level of corruption, the problems lies in control and law. My wife is from vietnam, and the country is really @_@, policeman are the daylight robbers, the government goes around to claim lands from the farmers, occupy their land and food as well and make things difficult for the commoners.


Take singapore and hongkong for example, try to evade anything against the law and see what happen lol..

true that smaller country are easier to manage, but countries like vietnam , russia, china, how to manage ?? its more like...
Yes, My country Thailand have history, In the past Thailand is host of Asia
game more than every country and we are 4th tiger of Asia, have most grown up in the world.

But now not have anymore for remember
  • #6,218
  • Aug 16, 2012 7:25am Aug 16, 2012 7:25am
Quoting pauladkinsau
I am on vacation in Australia at the moment, so have only just caught up with the last few days posts. As an Aussie who has lived in China the last 7 years, and travelled there for 10 years prior, I have to laugh when I read what some people have written here.

I own my own business in Beijing, providing consulting services to my clients. My clients include Rio Tinto, BHP-B, BP, Conoco Phillips and many other large multinationals. I also write articles for the trade press, and am quoted regularly by WSJ, Reuters, Dow Jones Newswires and others....
Ok Mr China expert, where oh where in China did you last see a food shortage? Where did you see people going hungry because they don't have enough food to eat? There's a big difference between food inflation which results in slightly higher prices and actual shortage of food and not been able to feed everyone.

You should know PMI figures are calculated the same way in every other country. Officials just send surveys to various plants and record their responses and calculate the mean. Obviously if the said plant is not on their radar or they didn't respond its not gonna be on the figure. What else are they gonna do? Send secret spies to every plant in the country to count how many aluminum sheets they got stacked up?
  • #6,219
  • Aug 16, 2012 7:25am Aug 16, 2012 7:25am
Quoting pauladkinsau
I am on vacation in Australia at the moment, so have only just caught up with the last few days posts. As an Aussie who has lived in China the last 7 years, and travelled there for 10 years prior, I have to laugh when I read what some people have written here.

I own my own business in Beijing, providing consulting services to my clients. My clients include Rio Tinto, BHP-B, BP, Conoco Phillips and many other large multinationals. I also write articles for the trade press, and am quoted regularly by WSJ, Reuters, Dow Jones Newswires and others....

Awesome stuff hahahahaha I love it!! Tell us more tell us more!!!
Don't follow me! You can and most likely will LOSE all your money!!!!
  • #6,220
  • Aug 16, 2012 7:26am Aug 16, 2012 7:26am
Quoting salt
Daddy, I just wonder who dares to long Aussie when they see weekly chart?
Well, let me answer you this way.

When you see the sunset, can you say the day is over?
daddybearforex. com
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