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EurAnalysis Kindergarten 24 replies

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  • #70,001
  • Sep 19, 2013 9:35pm Sep 19, 2013 9:35pm
Good morning,
i'm pending order short @ 1.3595 (1/2 size), 1.3660 (1/2 size) and 1.3695 (full size)
trading is easy just need patience and not greedy.
  • #70,002
  • Sep 19, 2013 10:36pm Sep 19, 2013 10:36pm
Quoting andan
Good morning, i'm pending order short @ 1.3595 (1/2 size), 1.3660 (1/2 size) and 1.3695 (full size) trading is easy just need patience and not greedy.

Trading is easy? Wow! that a bold statement mate.
Go figure.. Simplicity work
  • #70,003
  • Sep 19, 2013 10:41pm Sep 19, 2013 10:41pm
Quoting tokwanden
{quote} Trading is easy? Wow! that a bold statement mate.
Only after you have paid your dues and have over 2000 hours of seat time..................IMO
The More You Learn, The More You Earn.....
  • #70,004
  • Sep 19, 2013 10:46pm Sep 19, 2013 10:46pm
Quoting forexalien
{quote} Only after you have paid your dues and have over 2000 hours of seat time..................IMO

Hahahahaha. That very true! But easy? I would prefer word 'simple' rather than easy.. Anyway I leave to him.
Go figure.. Simplicity work
  • #70,005
  • Sep 19, 2013 11:01pm Sep 19, 2013 11:01pm
Quoting forexalien
{quote} Only after you have paid your dues and have over 2000 hours of seat time..................IMO

hi Alien!

hope you're well. looks like a downday for EJ is in the making... well, down to 134.00 before the next ramp higher!

wondering: what's your forecast?
cryptocurrency everytime
  • #70,006
  • Sep 19, 2013 11:27pm Sep 19, 2013 11:27pm
Quoting CommercialB
Interesting article up on Seeking Alpha with an alternate explanation for the non-taper event http://seekingalpha.com/article/1701...cro_view&ifp=0

hmmm, the banks.

This makes sense in the context of the poor credit conditions for banks mentioned in the article. Also, a lot of Fed funding is being thrown at European banks, with Europe arguably being the epicentre of the current crisis. So the argument implies the Fed carries on supporting US banking by keeping rates down, goes along with the "green shoots" in Europe and prevents a collapse triggered by a banking sector drowning in it's own filth. Makes sense in a deranged sort of way and raises some questions:

Why vaporize their own credibility? Was their hand forced? Is the banking sector crisis that severe?

If the real crisis is in banking and not in the bond market then why does the Fed not mention this when it opines about employment, participation and inflation?

If keeping rates low for the sake of preventing systemic banks failure, then this is only life-support (a delay) not a cure. So this means there are more banks that need to be escorted out the backdoor. The ones remaining are not making loans with the Fed funding and the deteriorating employment and housing market means more bad loans. I worry about what they're waiting for.

On a more positive note: I think there is no reasonable conclusion that can be drawn from trying to understand the Fed's reasons for doing anything. As an outgrowth of a corrupt system, they are so far from reality that even they could have no clue what they are doing.
http://www.zerohedge.com/news/2013-0...omment-3976942
cryptocurrency everytime
  • #70,007
  • Sep 20, 2013 12:59am Sep 20, 2013 12:59am
Quoting forexalien
{quote} Only after you have paid your dues and have over 2000 hours of seat time..................IMO
GM - only 2,000 hours ......I posted this in another thread.....

"Trading Forex is a serious, very difficult occupation. To become a professional in any major field - Accountant, Doctor, Lawyer etc you need first to study at a University and get a degree - so at minimum four years of studying - say 8,000 hours - during which time you are a student - a newbie.

Then when you get your first job you have no experience - OK, those that really want to succeed will have already spent their vacations working to get a head start - so your employer has to show you HOW to use what you have just studied to actually work in the Real World.

This has been confirmed here in FF by posts from a retired Senior Bank Trader, who stated that after selecting top graduates as trainee traders, he expected it would be a year of hard real time training before they would be able to trade successfully - so that's now 10,000 hours - par for the course for any difficult human endevour - just ask a good golf pro how long it takes for a golfer to reach his maximum ability....."
Trading Levels with WRBs
  • #70,008
  • Sep 20, 2013 2:21am Sep 20, 2013 2:21am
Quoting Islander
{quote} GM - only 2,000 hours ......I posted this in another thread..... "Trading Forex is a serious, very difficult occupation. To become a professional in any major field - Accountant, Doctor, Lawyer etc you need first to study at a University and get a degree - so at minimum four years of studying - say 8,000 hours - during which time you are a student - a newbie. Then when you get your first job you have no experience - OK, those that really want to succeed will have already spent their vacations working to get a head start - so your...
I've been golfing for as long as I can remember and I still suck at it. I have more chance of being gang banged by half a dozen 18 year old sluts than hitting the ball in the exact direction of the hole... let alone within a reasonable proximity.

However, with Forex trading I saw progress within the first few weeks. Obviously it took quite a while to become profitable and I even experienced a margin call with my first small trading account after going live, but once I had about 4000 or so hours under my belt, I was sustaining my lifestyle.

Everybody is different. Some traders will still blow accounts after 30,000 hours of seat time and yet some will be profitable after 1,000 hours. It all depends on your personality and your ability to grasp technical, financial and/or psychological concepts. Trading is not a skill all by itself, but rather is an activity that draws on many skills we pick up during the course of our lives. Some of the most important skills are humility, patience and emotional intelligence.

In closing I must agree that trading is not easy. In fact it becomes more and more difficult as time progresses. The more knowledge you have, the more complex it becomes to complete your analysis.
Those who say it cannot be done should not interrupt those who are doing it
  • #70,009
  • Sep 20, 2013 2:42am Sep 20, 2013 2:42am
Quoting PipTrapper
{quote} I've been golfing for as long as I can remember and I still suck at it. I have more chance of being gang banged by half a dozen 18 year old sluts than hitting the ball in the exact direction of the hole... let alone within a reasonable proximity. However, with Forex trading I saw progress within the first few weeks. Obviously it took quite a while to become profitable and I even experienced a margin call with my first small trading account after going live, but once I had about 4000 or so hours under my belt, I was sustaining my lifestyle....

Ah so that's why you're always disappearing into the rough looking for your balls - a slut has got them

"The more knowledge you have, the more complex it becomes to complete your analysis".....so true and that's why I have given up on trying to out-think the market. Now I just use my simple reading of PA and Tick Volumes around S&R levels to trade intra-day and bank regular pips...as I've just done in UJ and Cable
Trading Levels with WRBs
  • #70,010
  • Sep 20, 2013 2:45am Sep 20, 2013 2:45am
Quoting Islander
{quote} Ah so that's why you're always disappearing into the rough looking for your balls - a slut has got them "The more knowledge you have, the more complex it becomes to complete your analysis".....so true and that's why I have given up on trying to out-think the market. Now I just use my simple reading of PA and Tick Volumes around S&R levels to trade intra-day and bank regular pips...as I've just done in UJ and Cable
Those who say it cannot be done should not interrupt those who are doing it
  • #70,011
  • Sep 20, 2013 2:46am Sep 20, 2013 2:46am
Quoting venzen
{quote} hmmm, the banks. This makes sense in the context of the poor credit conditions for banks mentioned in the article. Also, a lot of Fed funding is being thrown at European banks, with Europe arguably being the epicentre of the current crisis. So the argument implies the Fed carries on supporting US banking by keeping rates down, goes along with the "green shoots" in Europe and prevents a collapse triggered by a banking sector drowning in it's own filth. Makes sense in a deranged sort of way and raises some questions: Why vaporize their own...


I'd imagine if there's substance to what is claimed in the article then it would only be an additional consideration and not the sole one in the tapering scenario. And again if the banks' capital ratios are in trouble then the fed would want to deflect attention away from this fact highlighting rather the employment aspect of the tapering decisions. Certainly looks as if european banks are not out of the woods yet by a long shot with concerns about the upcoming bank stress tests in 2014 as part of the new european banking union.. quite definitely the Irish banks which had been the forerunners in creating the mother of all housing bubbles & resulting crashes and which have been re-capitalized by the taxpayer & stress-tested ad nauseum are still going to need even more recapitalization in the near future. And they've been more up-front than most about recognizing their bad loans whereas other european banks have been hiding these and not marking to market...the spanish banks also over-indulged in their own housing bubble and have been much slower in recognizing all these private & commercial bad debts. Either way, definitely something to keep in mind in the Fed tapering issue since as we know the banks were at the root of all these problems and no reason to believe they've all been magically healed.
The spoken word is your master, the unspoken word your slave.
  • #70,012
  • Sep 20, 2013 2:58am Sep 20, 2013 2:58am
EU preelection market = flat. Germans want the Euro stand at least at the current level. Merkel III wants to keep them calm. We couldn't aspect therefore any valuable downmove till next week. IMO
Per aspera ad astra
  • #70,013
  • Sep 20, 2013 3:20am Sep 20, 2013 3:20am
Quoting CommercialB
{quote}... no reason to believe they've all been magically healed.
Not yet, but they've been on a morphine drip for 5 years now. How much longer could it possible take?

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Those who say it cannot be done should not interrupt those who are doing it
  • #70,014
  • Sep 20, 2013 3:22am Sep 20, 2013 3:22am
Quoting tokwanden
{quote} Trading is easy? Wow! that a bold statement mate.
if you think it's not easy it's your problem not me...
  • #70,015
  • Sep 20, 2013 3:33am Sep 20, 2013 3:33am
Quoting andan
{quote} if you think it's not easy it's your problem not me...
Okay. Be nice
Those who say it cannot be done should not interrupt those who are doing it
  • #70,016
  • Sep 20, 2013 3:42am Sep 20, 2013 3:42am
Quoting PipTrapper
{quote} Not yet, but they've been on a morphine drip for 5 years now. How much longer could it possible take? {image}
Ha ha
maybe Ben will do it before he leaves

Attached Image
The spoken word is your master, the unspoken word your slave.
  • #70,017
  • Sep 20, 2013 3:44am Sep 20, 2013 3:44am
Quoting andan
{quote} if you think it's not easy it's your problem not me...

... famous last words...

90% of people, are wrong about 90% of everything, 90% of the time...
  • #70,018
  • Sep 20, 2013 3:51am Sep 20, 2013 3:51am
calm down all calm down.....hehehhe
Bismillah
  • #70,019
  • Sep 20, 2013 4:59am Sep 20, 2013 4:59am
Some dickweed analyst on CNBC saying that the reason for the equity market gains has nothing to do with the Fed, but rather it is due to huge profits in the financial sector.

Well, Mr. Dickweed... How do you think the financial sector has done so well while the rest of corporate America is not creating new jobs in a effort to show some profits for their shareholders? I'll tell you how... The Fed is fattening the pockets of the big banks by providing them with loads of liquidity to pump up the equity markets, sucking in all the Ma and Pa life savings to help inflate a bubble... and when the time is right, they take their profits and leave poor old Ma and Pa holding the proverbial bag... That's how.

I'll believe what he is saying if the equity markets keep gaining when (if) the Fed starts to taper.
Those who say it cannot be done should not interrupt those who are doing it
  • #70,020
  • Sep 20, 2013 6:16am Sep 20, 2013 6:16am
Quoting PipTrapper
{quote} I've been golfing for as long as I can remember and I still suck at it. I have more chance of being gang banged by half a dozen 18 year old sluts than hitting the ball in the exact direction of the hole... let alone within a reasonable proximity. However, with Forex trading I saw progress within the first few weeks. Obviously it took quite a while to become profitable and I even experienced a margin call with my first small trading account after going live, but once I had about 4000 or so hours under my belt, I was sustaining my lifestyle....
Have to agree 100% on this. Something I learnt at music university was practice makes permanent NOT perfect. Quality of practice is what is important not time, to a reasonable degree of course.
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