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  • #743,901
  • Jan 9, 2013 11:49pm Jan 9, 2013 11:49pm
Quoting DaEdge
Position trading can never go anywhere. When your the size of a major bank or hedge fund that has access to trillions in capital with leverage do you think you are going to slam into a trade & try to scalp a few pips. Who's going to take the other side to get you out of the trade. Smart money will always position trade they can't do it any other way.
They used to do that , but i'm not sure they still ...
"It's the Margin, Stupid."
  • #743,902
  • Jan 10, 2013 12:03am Jan 10, 2013 12:03am
Quoting Vachus
They used to do that , but i'm not sure they still ...
I'm not sure I understand what you mean.
It works till it doesn't
  • #743,903
  • Jan 10, 2013 12:08am Jan 10, 2013 12:08am
this price action is getting to piss me off
  • #743,904
  • Jan 10, 2013 12:09am Jan 10, 2013 12:09am
Quoting Ken A
My shrink said I have addiction issue. Perhaps that should be weighted too.
yes
some addiction is good some is not so good the key is if you have compliance

addiction to living life to the max as long as Miss Life allow

addiction to sex as long as Miss Wives allow

addiction to junk food, Miss heart surgeon allow

addiction to alcohol, Miss liver surgeon allow

addiction to forex, Miss Life, Wives, Heart Surgeon, Liver Surgeon "and" bank manager must allow otherwise one and/or all them will kill you
If you are new to Forex? Say Goodbye to your account!!
  • #743,905
  • Jan 10, 2013 12:10am Jan 10, 2013 12:10am
Quoting DaEdge
I'm not sure I understand what you mean.
I saw a movie about Forex in the 80s - when banks where playing with each other, they were betting on NFP and doing scalping in anticpation that will price will go up in a session ... this is not a position trading, its actually scalping for few pips ! ( The amount of money involve were Millions of dollars ) So, as i said they used to do that - but i don't know if some of them still do this type of scalping.
"It's the Margin, Stupid."
  • #743,906
  • Jan 10, 2013 12:13am Jan 10, 2013 12:13am
Quoting dbest
this price action is getting to piss me off
Today is the second catalyst on January , so everyone is on the spikes here and there ...
"It's the Margin, Stupid."
  • #743,907
  • Jan 10, 2013 12:17am Jan 10, 2013 12:17am
Quoting KiwiTrada
yes
some addiction ....

addiction to sex as long as Miss Wives allow

.....must allow otherwise one and/or all them will kill you

wiveS ? plural? how many wives do you have? are you a Mormon?
  • #743,908
  • Jan 10, 2013 12:19am Jan 10, 2013 12:19am
Quoting Vachus
I saw a movie about Forex in the 80s - when banks where playing with each other, they were betting on NFP and doing scalping in anticpation that will price will go up in a session ... this is not a position trading, its actually scalping for few pips ! ( The amount of money involve were Millions of dollars ) So, as i said they used to do that - but i don't know if some of them still do this type of scalping.
NFP & FOMC are the days with the largest amount of volume traded so it would make sense, but that's certainly was not there main strategy & I'm 100% certain the amount of capital risked on those scalping type trades would be fairly minimal compared to the amount of capital reserves they had, otherwise one bad trade would blow up the bank.
It works till it doesn't
  • #743,909
  • Jan 10, 2013 12:24am Jan 10, 2013 12:24am
Quoting 1candlepower
wiveS ? plural? how many wives do you have? are you a Mormon?
Nah, I don't think Kiwi is a Mormon but a poet.


Quoting DaEdge
NFP & FOMC are the days with the largest amount of volume traded so it would make sense, but that's certainly was not there main strategy & I'm 100% certain the amount of capital risked on those scalping type trades would be fairly minimal compared to the amount of capital reserves they had, otherwise one bad trade would blow up the bank.
If those in COT reports are not position traders (commercial, large funds, hedge funds), who are they?
  • #743,910
  • Jan 10, 2013 12:26am Jan 10, 2013 12:26am
Quoting DaEdge
Position trading can never go anywhere. When your the size of a major bank or hedge fund that has access to trillions in capital with leverage do you think you are going to slam into a trade & try to scalp a few pips. Who's going to take the other side to get you out of the trade. Smart money will always position trade they can't do it any other way.
been going over your discussion w/Attila and others... one of most interesting i've read.

my take on large entity trading: important diff between me and Deusche Bank is that i have no worries about offsetting my positions (they're not that large and prob never will be) --- but the bank has to worry A LOT about finding a counterparty (liquidity) to get out of a position... they need to either have position knowledge about another large entity or the ability to create one (from retail traders using some clever break-dancing/kung-fu price moves to make them gather at a given spot)...

you commented earlier that you worked on a trading desk for many years --- did you ever get any insight into how these big guys ferret out the info they need? it would seem normal TA wouldn't work
  • #743,911
  • Jan 10, 2013 12:28am Jan 10, 2013 12:28am
Quoting Ken A
Nah, I don't think Kiwi is a Mormon but a poet.




If those in COT reports are not position traders (commercial, large funds, hedge funds), who are they?
Mormons
The Thief of Wall Street
  • #743,912
  • Jan 10, 2013 12:29am Jan 10, 2013 12:29am
Quoting Ken A

If those in COT reports are not position traders (commercial, large funds, hedge funds), who are they?
When did I say those weren't position traders?
It works till it doesn't
  • #743,913
  • Jan 10, 2013 12:32am Jan 10, 2013 12:32am
Quoting DaEdge
When did I say those weren't position traders?
You did.................................... as soon as Ken finished his 3rd drink.
The Thief of Wall Street
  • #743,914
  • Jan 10, 2013 12:35am Jan 10, 2013 12:35am
Quoting mercy seat
Quick survey for the EUR/USD (Jan 09, 2013 23:00) ... (ROLL CLOSE) ... with a few hints for today and WEEK No.2 ...


2013-01-09_22h30 - ZigZag + Pivot Survey _ EURUSD _ Rolling _ W-02 # FG86 (EN Daily, Weekly).PNG (130.3 KB)
Quick survey for the EUR/USD (Jan 09, 2013 23:00) ... (ROLL CLOSE) ... (Jan 10, 2013 00:00) ... (ROLL OPEN) ... with a few hints for today and WEEK No.2 ...


2013-01-09_22h30 - ZigZag + Pivot Survey _ EURUSD _ Rolling _ W-02 # FG86 (EN Daily, Weekly).PNG (130.3 KB)

2013-01-09_23h00 - ZigZag + Pivot Survey _ EURUSD _ Roll Dn _ W-02 # FG86 (EN Daily, Weekly).PNG (126.2 KB)

2013-01-10_00h00 - ZigZag + Pivot Survey _ EURUSD _ Roll Up _ W-02 # FG86 (EN Daily, Weekly).PNG (129.2 KB)

2013-01-10_07h29_ EURUSD _ min020 _ (5Dy) barchart (Spezial).PNG (14.1 KB)


Easy peasy to read ...

Easy peasy to work with ...

Nothing changed for now ...

Can pop up one more time and all fine as long as 1.3034 may hold ...

Still in a zigzag correction ...

Any cross of below 1.3007 could damage the upside structure ...







;-|
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 2013-01-10_00h00 - ZigZag + Pivot Survey _ EURUSD _ Roll Up _ W-02 # FG86 (EN Daily, Weekly).PNG Size: 129 KB
Click to Enlarge Name: 2013-01-10_07h29_ EURUSD _ min020 _ (5Dy) barchart (Spezial).PNG Size: 14 KB
2013-07-31 Today's Phrase of the Day: Hold off from any recycle bin experts
  • #743,915
  • Jan 10, 2013 12:35am Jan 10, 2013 12:35am
Quoting DaEdge
Position trading can never go anywhere. When your the size of a major bank or hedge fund that has access to trillions in capital with leverage do you think you are going to slam into a trade & try to scalp a few pips. Who's going to take the other side to get you out of the trade. Smart money will always position trade they can't do it any other way.

not sure i understand what "can never go anywhere" means
  • #743,916
  • Jan 10, 2013 12:38am Jan 10, 2013 12:38am
Quoting 1candlepower
been going over your discussion w/Attila and others... one of most interesting i've read.

my take on large entity trading: important diff between me and Deusche Bank is that i have no worries about offsetting my positions (they're not that large and prob never will be) --- but the bank has to worry A LOT about finding a counterparty (liquidity) to get out of a position... they need to either have position knowledge about another large entity or the ability to create one (from retail traders using some clever break-dancing/kung-fu price moves...
The whole desk isn't on the same side. So I might be told to focus on buying & be given a range to buy in as well a max amount of size to try & get filled, & the guy sitting next me may be told to sell at a different range with a max amount to get filled.
It works till it doesn't
  • #743,917
  • Jan 10, 2013 12:39am Jan 10, 2013 12:39am
Rate cut = selling ?

I don't beieve in that. Rate cut is an absolute last solution (no possible backturn).
  • #743,918
  • Jan 10, 2013 12:39am Jan 10, 2013 12:39am
Quoting Chicky
You did.................................... as soon as Ken finished his 3rd drink.
Boring PA is to blame. Everyone is waiting for El Draghi.
  • #743,919
  • Jan 10, 2013 12:41am Jan 10, 2013 12:41am
Quoting 1candlepower
not sure i understand what "can never go anywhere" means
Never go away. Is that better? Told you I'm not smart.
It works till it doesn't
  • #743,920
  • Jan 10, 2013 12:42am Jan 10, 2013 12:42am
Quoting Chicky
You did.................................... as soon as Ken finished his 3rd drink.
Whoooooooopsie
It works till it doesn't
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