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  • #352,501
  • Nov 9, 2013 2:57am Nov 9, 2013 2:57am
nice chart Nav
omg how much data ?? (may 98)
mine dose not go back that far


Quoting nAVIN2007
{quote} well done buddy excellent trading im thinking 1.59 will go ..dollar should get stronger {image}
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #352,502
  • Nov 9, 2013 3:03am Nov 9, 2013 3:03am
Quoting _BBKing_
{quote} Everyone trading (or trying to) should know this! But what i actually see, mainly in forex but i would say in every market, is that there's a wrong school teaching to over-trade! By school i mean all advertisements around the web done by some brkers, but also i mean the industry it-self is inclined to produce new people able only to just pay!! This is sad indeed. Some people say that this is the way how it works... 'only 5% traders is profitable' they say, 'there is an hidden hand moving market against retailers' they say, 'learn...

BBking
Thanks for your post.Sometimes I post things other then charts and not sure If it resonates...
To further dwell on this. Last year I read brilliant book on Jesse Livermore Reminiscences of a Stock Operator
and didn't get much from it.I attributed that to my not enough trading experience.After a year recently I reread again and I found packets of wisdom on so many levels that I could not believe I missed in 1st time reading.
Jesse started as scalper then as he gained more experience evolved to longer term fundamentalist trader.He kept mentioning words like supply and demand and kept a keen eye on macro economies.
He was huge on waiting for right time to enter the market and on one instance waited 11months almost a year for trade to close profitably.
I feel close to him partly because of his tragic end and also that he is from few towns away from mine.
Many rookies are surprised to learn that Livermore, the idol of so many great traders, advocated a lower maintenance, higher patience approach as he matured. In his early days, Livermore was dependent on the short-term funding and scalping activity of the bucket shops. Once he graduated and had his own capital, he was able to lengthen position holding times and could even afford to do nothing for extended periods.

Here are nine surprising things Jesse Livermore said regarding excessive trading:
1. "Money is made by sitting, not trading."
2. "It takes time to make money."
3. "It was never my thinking that made the big money for me, it always was sitting."
4. "Nobody can catch all the fluctuations."
5. "The desire for constant action irrespective of underlying conditions is responsible for many losses in Wall Street even among the professionals, who feel that they must take home some money everyday, as though they were working for regular wages."
6. "Buy right, sit tight."
7. "Men who can both be right and sit tight are uncommon."
8. "Don't give me timing, give me time."
and finally, the most important thing:
9. "There is a time for all things, but I didn’t know it. And that is precisely what beats so many men in Wall Street who are very far from being in the main sucker class. There is the plain fool, who does the wrong thing at all times everywhere, but there is the Wall Street fool, who thinks he must trade all the time. Not many can always have adequate reasons for buying and selling stocks daily – or sufficient knowledge to make his play an intelligent play."

Regards
In trading, you have to be defensive and aggressive at the same time
  • #352,503
  • Nov 9, 2013 3:11am Nov 9, 2013 3:11am
Quoting INvestME
Never really post on this site, but this is one solid trade as for so many more. My chart is of the GBPUSD. From this past weeks close, we received one of the most powerful signals in the market which is a Topping Tail providing us with a 2nd week of realization that the USD is still in FULL Control of this pair and many more. Since we are officially back below the 8-MA, then we can expect to play one of the most successful trading strategies which is the famous "Cone Trade." The completing of a move from the 8-MA to the 20-MA and possibly even...

to further add if GU goes down don't overlook fat pig GC ...grossly overbought
In trading, you have to be defensive and aggressive at the same time
  • #352,504
  • Nov 9, 2013 3:39am Nov 9, 2013 3:39am
Quoting Bones
btw its you that kept challenging me btw you lost on all counts lol {quote}
It wasn't a challenge because we didnt hear your opinion, I was just trying to help You also should accept that last legs in usdlfx is extraordinary, only caused because of data.I'm 100% sure if there were'nt fake data releases it was going down right from there.
  • #352,505
  • Nov 9, 2013 3:47am Nov 9, 2013 3:47am
Quoting Pumpndump
Morning Gents, Anyone else hoping for a break below 159 last night, or was I asking too much? Best Regards
You were asking too much. Consolidation cycle had to complete first. Maybe Monday will be the day, but I firmly believe 1.5900 will be tested and hopefully broken.
Those who say it cannot be done should not interrupt those who are doing it
  • #352,506
  • Nov 9, 2013 3:59am Nov 9, 2013 3:59am
Quoting Davit
{quote} BBking Thanks for your post.Sometimes I post things other then charts and not sure If it resonates... To further dwell on this. Last year I read brilliant book on Jesse Livermore Reminiscences of a Stock Operator and didn't get much from it.I attributed that to my not enough trading experience.After a year recently I reread again and I found packets of wisdom on so many levels that I could not believe I missed in 1st time reading. Jesse started as scalper then as he...
Very nice quality post, there is a lot of truth here.
  • #352,507
  • Nov 9, 2013 4:10am Nov 9, 2013 4:10am
I charted live for you to see it could be read ,if you want check my posts ,I love forex because I can read many charts for confluence in what im saying
its not the news that changed honestly ,it was there all the time
its an argument that is boring now ,I hope I have proved that theorey wrong
That there are the wise that have a fortune to spend to figure out what next ,in the end with some technical knowledge it shows
its crazy to say the market is random ,its hard has to be

Quoting okanemici
{quote} It wasn't a challenge because we didnt hear your opinion, I was just trying to help You also should accept that last legs in usdlfx is extraordinary, only caused because of data.I'm 100% sure if there were'nt fake data releases it was going down right from there.
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #352,508
  • Nov 9, 2013 4:19am Nov 9, 2013 4:19am
Quoting INvestME
Never really post on this site, but this is one solid trade as for so many more. My chart is of the GBPUSD. From this past weeks close, we received one of the most powerful signals in the market which is a Topping Tail providing us with a 2nd week of realization that the USD is still in FULL Control of this pair and many more. Since we are officially back below the 8-MA, then we can expect to play one of the most successful trading strategies which is the famous "Cone Trade." The completing of a move from the 8-MA to the 20-MA and possibly even...
Very nice chart and explanation INvestME, I didn't know about cone trade but by coincidince I have a W6 ma on my charts and is very usefull.For this gu I have a sell limit order around 1.6045-50 and agree about a long ride down.
  • #352,509
  • Nov 9, 2013 4:26am Nov 9, 2013 4:26am
i mean how else would any technical edge work ? it would be impossible

Quoting Bones
I charted live for you to see it could be read ,if you want check my posts ,I love forex because I can read many charts for confluence in what im saying its not the news that changed honestly ,it was there all the time its an argument that is boring now ,I hope I have proved that theorey wrong That there are the wise that have a fortune to spend to figure out what next ,in the end with some technical knowledge it shows its crazy to say the market is random ,its hard has to be {quote}
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #352,510
  • Nov 9, 2013 4:33am Nov 9, 2013 4:33am
Quoting Davit
{quote}
3. "It was never my thinking that made the big money for me, it always was sitting."
4. "Nobody can catch all the fluctuations."
8. "Don't give me timing, give me time."
9. "...Not many can always have adequate reasons for buying and selling stocks daily – or sufficient knowledge to make his play an intelligent play."

this represents very well some of my main thoughts about trading!!
90% of traders use TA, indicators and prediction
  • #352,511
  • Nov 9, 2013 4:36am Nov 9, 2013 4:36am
Quoting okanemici
{quote} I'm 100% sure if there were'nt fake data releases it was going down right from there.
hello
of course it's like this!! i mean...if there are reasons allowing a move, the move comes, why if the reasons are not, the move does not come or comes in opposite way!
but what do you mean by fake data?!
90% of traders use TA, indicators and prediction
  • #352,512
  • Nov 9, 2013 4:40am Nov 9, 2013 4:40am
Quoting Bones
nice chart Nav omg how much data ?? (may 98) mine dose not go back that far {quote}



1986
Attached Image (click to enlarge)
Click to Enlarge Name: Chart_GBP_USD_Weekly_snapshot.png Size: 39 KB
90% of traders use TA, indicators and prediction
  • #352,513
  • Nov 9, 2013 4:41am Nov 9, 2013 4:41am
I was aside during NFP (better safe than sorry when you are a newbie) but thinking of shorting GBPUSD on Monday will be watching out a retrace to 1.6050 or so

looks like a fair entry point or the retrace is expected to reach 1.6100 ?

thank you all
  • #352,514
  • Nov 9, 2013 4:47am Nov 9, 2013 4:47am
Quoting _BBKing_
{quote} hello of course it's like this!! i mean...if there are reasons allowing a move, the move comes, why if the reasons are not, the move does not come or comes in opposite way! but what do you mean by fake data?!
I mean they play with the jobless claims numbers and everything to give direction to markets,and sometimes make huge reversals with false data, I don't believe even one single data they release.All central bank chairmans and presidents are puppets and they read what big bosses give them.
  • #352,515
  • Nov 9, 2013 4:52am Nov 9, 2013 4:52am
Quoting Bones
i mean how else would any technical edge work ? it would be impossible {quote}
If this means the markets are predictable I agree, looking at pairs and indexes one can figure out where the pair is going most of the time.If you cant see the move in euraud, most of the time audchf shows the way in euraud or audlfx itself.I agree with you in confluence in trading.I have catched many big moves in euraud like that.
  • #352,516
  • Nov 9, 2013 4:54am Nov 9, 2013 4:54am
wow I want it lol


Quoting _BBKing_
{quote} 1986 {image}
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #352,517
  • Nov 9, 2013 4:57am Nov 9, 2013 4:57am
Quoting Davit
{quote} BBking Thanks for your post.Sometimes I post things other then charts and not sure If it resonates... To further dwell on this. Last year I read brilliant book on Jesse Livermore Reminiscences of a Stock Operator and didn't get much from it.I attributed that to my not enough trading experience.After a year recently I reread again and I found packets of wisdom on so many levels that I could not believe I missed in 1st time reading. Jesse started as scalper then as he...
"And right here let me say one thing: After spending many years in Wall Street and after making and losing millions of dollars I want to tell you this: It never was my thinking that made the big money for me. It always was my sitting. Got that? My sitting tight! It is no trick at all to be right on the market. You always find lots of early bulls in bull markets and early bears in bear markets. I've known many men who were right at exactly the right time, and began buying or selling stocks when prices were at the very level which should show the greatest profit. And their experience invariably matched mine that is, they made no real money out of it. Men who can both be right and sit tight are uncommon. I found it one of the hardest things to learn. But it is only after a stock operator has firmly grasped this that he can make big money. It is literally true that millions come easier to a trader after he knows how to trade than hundreds did in the days of his ignorance."

Jesse Livermore
  • #352,518
  • Nov 9, 2013 4:57am Nov 9, 2013 4:57am
Quoting okanemici
{quote} I mean they play with the jobless claims numbers and everything to give direction to markets,and sometimes make huge reversals with false data, I don't believe even one single data they release.All central bank chairmans and presidents are puppets and they read what big bosses give them.
my main concern about us job data is market's interpretation of them!! i mean.. if we compare us unemployment (example) with european one, together with many other data, then the EU rate should be reversed (i mean 0.85) since market gives so much importance to these data... actually i believe there is way too much importance given to us job market data fluctuations!! so i also suspect something dirty behind these data, but as many other things out there in trading, one can't be sure about!
90% of traders use TA, indicators and prediction
  • #352,519
  • Nov 9, 2013 5:01am Nov 9, 2013 5:01am
my favourite charing 2009 ! ,tho I suppose I could pay for more data


Quoting Bones
wow I want it lol {quote}
Attached Image (click to enlarge)
Click to Enlarge Name: gbp USD Spot.png Size: 49 KB
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #352,520
  • Nov 9, 2013 5:06am Nov 9, 2013 5:06am
Quoting Bones
my favourite charing 2009 ! ,tho I suppose I could pay for more data {quote} {image}
actually all data are available from dukascopy.com website. but i don't know the format they are...

by my side... what really counts is last 12-18 months!
90% of traders use TA, indicators and prediction
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