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  • #31,841
  • Jun 7, 2013 9:28pm Jun 7, 2013 9:28pm
Quoting Pip Anon
{quote} Not very good advice. He doesn't need to trade his ass off, and that' what got him in trouble. You need to be patient for high probability trades not rush trade. I know many have ideas of grandeur, but lets get to reality not many here are NY or City traders. Also if he cannot trade low volatility pairs he has no business trading yen. Arman, you'll find your way but please keep a clear head.
Demo account and 20 books on forex + concentrating on what I know already. Give myself a month.
  • #31,842
  • Jun 7, 2013 9:47pm Jun 7, 2013 9:47pm
Quoting Arman_A
{quote} Demo account and 20 books on forex + concentrating on what I know already. Give myself a month.

Arman, you don't really need 20 books. I'd recommend The EWP for you to study until your butt is off.
daddybearforex. com
  • #31,843
  • Jun 7, 2013 9:55pm Jun 7, 2013 9:55pm
In order to find out what lies ahead, I studied the weekly chart. A temp. relief within weekly context may be in sight; however, A further drop is still in the cards.
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daddybearforex. com
  • #31,844
  • Jun 7, 2013 10:35pm Jun 7, 2013 10:35pm
Unlike EJ, AU is a better woman to deal with. Trading the EJ is very risky. She can wipe out either the bulls' or the Bears' accounts in a few hours...
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daddybearforex. com
  • #31,845
  • Jun 7, 2013 10:38pm Jun 7, 2013 10:38pm
AU's paths are more "predictable" sometimes IMO.
daddybearforex. com
  • #31,846
  • Jun 7, 2013 10:39pm Jun 7, 2013 10:39pm
Quoting DaddyBear
Unlike EJ, AU i s a better woman to deal with. Trading the EJ is very risky. She can wipe oiut either the bulls' or the Bears' accounts in a few hours... {image}
cannot wipe your account out if you are applying trade management rules, if you wipe the account out you only have yourself to blame
  • #31,847
  • Jun 7, 2013 11:06pm Jun 7, 2013 11:06pm
Quoting DaddyBear
Unlike EJ, AU is a better woman to deal with. Trading the EJ is very risky. She can wipe out either the bulls' or the Bears' accounts in a few hours... {image}
if FF has 'like' button...im gonna like your self draw cartoon. its hilarious.. =D

u made forex world relax DB...
Listen to the market
  • #31,848
  • Jun 8, 2013 1:17am Jun 8, 2013 1:17am
Quoting DaddyBear
Unlike EJ, AU is a better woman to deal with. Trading the EJ is very risky. She can wipe out either the bulls' or the Bears' accounts in a few hours... {image}
Nice picture DB

AJ AU is same direction right now.. Any idea?
  • #31,849
  • Jun 8, 2013 7:03am Jun 8, 2013 7:03am
Quoting xingloon
{quote} if FF has 'like' button...im gonna like your self draw cartoon. its hilarious.. =D u made forex world relax DB...
Relaxation is the key to win in the Forex trading.

Quoting DaddyBear
I know Kobe beef has been renowned for its high quality. The reason Kobe beef can achieve such a status has no secret. The ranch owners feed their cattle with nice food and beer. Give them routine massages and have them enjoy nice music everyday. If relaxation makes top quality beef in ranches, why can't it produce top traders in a forum?
daddybearforex. com
  • #31,850
  • Jun 8, 2013 7:05am Jun 8, 2013 7:05am
Quoting k3nshinz3139
{quote} Nice picture DB AJ AU is same direction right now.. Any idea?
Thanks. As to AJ, I have no clue. you might be right.
daddybearforex. com
  • #31,851
  • Jun 8, 2013 10:26am Jun 8, 2013 10:26am
Quoting DaddyBear
In order to find out what lies ahead, I studied the weekly chart. A temp. relief within weekly context may be in sight; however, A further drop is still in the cards. {image}
Hey DB, I'm not so sure about any temporary relief. There is a lot of data out of China this weekend, some of which has already come out. It's been quite ugly so far. Check it out here:

http://www.forexlive.com/blog/2013/06/08/china-trade-balance-for-may-imports-exports/

http://www.forexlive.com/blog/2013/06/08/reuters-article-china-trade-data-underscores-growth-worries/

http://www.forexlive.com/blog/2013/06/08/chinas-export-decline-fake-shipment-crackdown-cited/

We still have more data to come this weekend, but if it's more of the same (bad), it could get ugly for AUD on the open and continue again all week.
check out my blog: forexmademillionaire dot com
  • #31,852
  • Jun 8, 2013 10:38am Jun 8, 2013 10:38am
Quoting Geppy
{quote} Hey DB, I'm not so sure about any temporary relief. There is a lot of data out of China this weekend, some of which has already come out. It's been quite ugly so far. Check it out here: http://www.forexlive.com/blog/2013/06/08/china-trade-balance-for-may-imports-exports/ http://www.forexlive.com/blog/2013/06/08/reuters-article-china-trade-data-underscores-growth-worries/ http://www.forexlive.com/blog/2013/06/08/chinas-export-decline-fake-shipment-crackdown-cited/ We still have more data to come this weekend,...
The relief I was talking about is within the daily context or in the lower TF. As to the extent of the relief, I cannot tell at this point until AU unfolds more of her intention in the coming days.
daddybearforex. com
  • #31,853
  • Jun 8, 2013 10:43am Jun 8, 2013 10:43am
Quoting Geppy
{quote} Hey DB, I'm not so sure about any temporary relief. There is a lot of data out of China this weekend, some of which has already come out. It's been quite ugly so far. Check it out here: http://www.forexlive.com/blog/2013/06/08/china-trade-balance-for-may-imports-exports/ http://www.forexlive.com/blog/2013/06/08/reuters-article-china-trade-data-underscores-growth-worries/ http://www.forexlive.com/blog/2013/06/08/chinas-export-decline-fake-shipment-crackdown-cited/ We still have more data to come this weekend,...
My reasoning was based on the weekly Doji. Although it was not confirmed, after dropping so much from the high, some bulls will attempt to buy at this level. Thus a fake reversal will occur. This is the EWP wave IV phenomena....
Attached Image
daddybearforex. com
  • #31,854
  • Jun 8, 2013 12:03pm Jun 8, 2013 12:03pm
Quoting Geppy
{quote} Hey DB, I'm not so sure about any temporary relief. There is a lot of data out of China this weekend, some of which has already come out. It's been quite ugly so far. Check it out here: http://www.forexlive.com/blog/2013/06/08/china-trade-balance-for-may-imports-exports/ http://www.forexlive.com/blog/2013/06/08/reuters-article-china-trade-data-underscores-growth-worries/ http://www.forexlive.com/blog/2013/06/08/chinas-export-decline-fake-shipment-crackdown-cited/ We still have more data to come this weekend,...
Hey Geppy, haven't seen you in a while. Any good trade on GBPJPY? I think Aussie has to dig itself out of the hole. The fake shipment is expected, at least from me. There has been speculation on Chinese numbers for how long? If you notice, Chinese based numbers are good while HSBC-Chinese numbers (I'd assume independent) are low.

Maybe this only makes since in my head, but after seeing this fake shipment thing makes it more of a question: When China was demanding commodities like copper and such, they were "growing.' Real estate was booming, and then we find out their are ghost towns all over the place. Empty track houses, malls, etc.

Could they have gobbled up all these commodities and built these things to make it appear like China is growing?
When the facts change I change my mind, what do you do sir
  • #31,855
  • Jun 8, 2013 12:09pm Jun 8, 2013 12:09pm
Quoting Pip Anon
{quote} Hey Geppy, haven't seen you in a while. Any good trade on GBPJPY? I think Aussie has to dig itself out of the hole. The fake shipment is expected, at least from me. There has been speculation on Chinese numbers for how long? If you notice, Chinese based numbers are good while HSBC-Chinese numbers (I'd assume independent) are low. Maybe this only makes since in my head, but after seeing this fake shipment thing makes it more of a question: When China was demanding commodities like copper and such, they were "growing.' Real estate was booming,...
GBP/JPY has been a drag for awhile (until Friday of course), so I haven't been trading it. Mostly been trading sterling and aud.

Honestly, I'm not a huge fundies guy in terms of being THAT knowledgeable. But AUD doesn't look strong by any means and any slight bounce has been heavily sold. I wouldn't be a buyer at any level. There's still more important China data coming out this weekend, so we'll want to watch that. But if I had to bet, I'd bet we're gapping down on Sunday.
check out my blog: forexmademillionaire dot com
  • #31,856
  • Jun 8, 2013 12:13pm Jun 8, 2013 12:13pm
Quoting Geppy
{quote} GBP/JPY has been a drag for awhile (until Friday of course), so I haven't been trading it. Mostly been trading sterling and aud. Honestly, I'm not a huge fundies guy in terms of being THAT knowledgeable. But AUD doesn't look strong by any means and any slight bounce has been heavily sold. I wouldn't be a buyer at any level. There's still more important China data coming out this weekend, so we'll want to watch that. But if I had to bet, I'd bet we're gapping down on Sunday.
I haven't trade Geppy in a while until Friday. Got a small piece of the action. I am not a big fundies guy, but I agree Aussie is broken. Every bounce is sold, and there is no willingness to close above .98. It seems 90-120 pip down moves are the new normals.

Kiwi has been getting a beating too.
When the facts change I change my mind, what do you do sir
  • #31,857
  • Jun 8, 2013 8:36pm Jun 8, 2013 8:36pm
Wow, China CPI and PPI just came out a bit ago... both fell short pretty significantly.
check out my blog: forexmademillionaire dot com
  • #31,858
  • Jun 8, 2013 9:14pm Jun 8, 2013 9:14pm
Quoting iNSIELD
Sometimes u have too look at the fine print for a glimmer of hope "However, in one bright sign, separate customs data showed that China's imports of major commodities rose in May compared with the previous month, helped by lower prices on world markets and pointing to resilient demand." It will indeed be interesting to see what the market does next week. it may not be as cut and dry as we all assume
The devil is in the detail sometimes....... - thanks iNSIELD for highlighting!!
  • #31,859
  • Jun 8, 2013 9:44pm Jun 8, 2013 9:44pm
Not sure about PPI, but the CPI number being so low actually gives more scope for the government to loosen the monetary policy.
  • #31,860
  • Jun 9, 2013 4:51am Jun 9, 2013 4:51am
Quoting GeoTrade
{quote} The devil is in the detail sometimes....... - thanks iNSIELD for highlighting!!
Elliott wave principle?
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