Spectre's Corner

1) EUR/GBP/JPY USD bull stint in them.
2) North Korea nuclear test possible over the weekend.
3) Weak data throughout the globe.
4) USD Government Bonds rallying.
5) OIL and GOLD down hard.
6) Stock Rallying(technical rally).
7) War on Terror.
8) Risk of cease fire breaking always there.

These are some things to take into account. I think the coming weak we should see a capitulation in USD bull move.

gbp is shooting for 1.8670...1.8700

Eur....1.2727
Jpy.....1.1666

What do we look for in the GBPUSD next week. Can we say the same for the Euro and the opposite for USD/JPY and USD/CHF. Do you use pretty much the same indicators for your projections and what are they if you do not mind sharing.

Thanks

Tom

I don't use any indicators, I just use 'tick analysis', I watch as many time frames as possible in the instrument I'm trading. I develop a anticipatory feel for the market. The market has a varying degree of predictability at any given time.

Some news events and report days, the market is extemely predictable. I think I use a lot of mass mentality psychology in my trading. Price action represents a battle between two opposing forces who want to impose their view on the world. As a retail trader, its better to wait for the battle to be waged and decided before stepping in. If you get involved in the mix, most of the times you get hurt. You should not be in the market at all times. Risk/Reward fluctuates minute to minute, if you want to survive the markets you have to pick your points of entry and exit well. Various price levels, have varying degree of risk/reward. If you want extremely high returns, watch the marekts day in day out 24/7 as much as you can. Eventually your brain accomodates the information, and it will adapt. And soon you will be able to anticipate movements.

GBP/EUR have painted a 'short' picture. There was some weak european data this past week. Not much data for the USD this coming week. Some German numbers coming out though. So the european majors might come under pressure this coming week. I wont know till the opening sunday night.

geopolitical correlations are only as good as the situtation...
usd bulls might have a hard time soon... with correlational breakdowns this week...
Look for a technical breakdowns as entries into nice swings opportunities...

Asymetric correlations might have some scratching their heads...

Do not underestimate the shear volumes on the sidelines...waiting for entries into prevailing investment bank thought processes
These guys are just looking for entries

I posted this on another forum..on another board. Here it is:


I trade some of the larger markets day in day out, charts and trading do work. There is a thing called 'evolution' that takes hold of any given process in the universe. Its basically interaction of participants in a given setting. Price action in any given market is a evolution from its market participants. Each market has its own characteristic price action. The goal of this is to discern the markets characteristics and to take advantage of them.

It takes a lot of intense focus to do this. I trade on time frames that are seconds apart to days apart. Either way, I rely 80-90% on 'tick action'. When you have watched price action over many years, you eventually realize what types of actions are profitable and what types are not. Huge markets become extremely technical in nature. The currency and bond markets are this way. I can consistently pull out money 80-90% of my trades. Some of the key 'rules of the game' that are developed.

1) Develop price bias: Know what the 1 minute to 5 minute trends in a given market in relation to other time frames.

2) Know where the resistance and support levels are in the market you are trading. Most market when resistance and support start failing, the markets trend for the day. But atleast 2 resistance or support levels fail before the market runsaway with the trend.

3) Wait for a counter trend to enter, this is to build up a buffer on your trade, so if you are wrong, atleast the market will allow you to get out at minimal loss and to regroup.

4) Chasing markets on minute to minute basis rarely works, especially if your highly leveraged. See rule 3.

5) Know the economic landscape and news events predominating. Know when economic reports are due out.

6) Know where the sun is shining currently the brightest. Meaning, if your trading a 24 hr market, like oil or gold or currency. The market pariticpants change when the sun is shining on a given time zone. Each time zone has mindsets that play a predominant role in that given time. Does the Asian mindset differ from the European?

7) Wait for reports to come out before acting. Let the market interpret the report for you instead of trying to interpret the report for the market.

8) Cut your loss if the price leaves a popular 'time sales' point. Meaning if the market enters a new range against your position, get out of it quickly. Since the chances of it coming back into your range are rare. You losses will escalate.

9) Know when to exit your trade. Let your winners ride till the next resistance or support level. Just because you start making money on the trade, dont get out of it, unless you can find a reason to.

10) If you feel uneasy, get out of it. Your subconscious is telling you something is wrong with what is happening.

11) Dont feel you have to trade all the time. Only trade when the opportunity is there. Trading is very similar to hunting. Your funds are limited given the size of the market. Meaning you might only have 20 arrows or 20 bullets that can be used to fire. Its pointless to keep firing them into the air. When things are just right and optimal, FIRE!. The top 5% do this. It can turn markets.

12) Dont leave your position unattended, meaning dont step away if your highly leveraged, and go to the beach unless you have a wirless access to the market that you can keep tabs on it.

These are some of the rules that come to mind. Whenever I stray from them. I get smacked. I have screens all over the house. I have wireless PDA's next to my bed, that I can look at if I wake up in the middle of the night. I have projection system that puts prices on the wall. Its a constant battle and I feel that I am a warrior. Extreme discipline is needed to do this.

Chris

hey i accidently closed some contacts in yahoo messenger. If you wanted to contact me and be on a list of people that can see when i'm on and ask me questions. Contact me with yahoo messenger at [email protected]

These are key rules, I know but do not always trade by, thanks for posting them here.

Sorry, but Rule 1. Price bias. I am unsure of the meaning- is this following shorter time frames in order to spot reversals....would you mind giving me a little detail.



I posted this on another forum..on another board. Here it is:


I trade some of the larger markets day in day out, charts and trading do work. There is a thing called 'evolution' that takes hold of any given process in the universe. Its basically interaction of participants in a given setting. Price action in any given market is a evolution from its market participants. Each market has its own characteristic price action. The goal of this is to discern the markets characteristics and to take advantage of them.

It takes a lot of intense focus to do this. I trade on time frames that are seconds apart to days apart. Either way, I rely 80-90% on 'tick action'. When you have watched price action over many years, you eventually realize what types of actions are profitable and what types are not. Huge markets become extremely technical in nature. The currency and bond markets are this way. I can consistently pull out money 80-90% of my trades. Some of the key 'rules of the game' that are developed.

1) Develop price bias: Know what the 1 minute to 5 minute trends in a given market in relation to other time frames.

2) Know where the resistance and support levels are in the market you are trading. Most market when resistance and support start failing, the markets trend for the day. But atleast 2 resistance or support levels fail before the market runsaway with the trend.

3) Wait for a counter trend to enter, this is to build up a buffer on your trade, so if you are wrong, atleast the market will allow you to get out at minimal loss and to regroup.

4) Chasing markets on minute to minute basis rarely works, especially if your highly leveraged. See rule 3.

5) Know the economic landscape and news events predominating. Know when economic reports are due out.

6) Know where the sun is shining currently the brightest. Meaning, if your trading a 24 hr market, like oil or gold or currency. The market pariticpants change when the sun is shining on a given time zone. Each time zone has mindsets that play a predominant role in that given time. Does the Asian mindset differ from the European?

7) Wait for reports to come out before acting. Let the market interpret the report for you instead of trying to interpret the report for the market.

8) Cut your loss if the price leaves a popular 'time sales' point. Meaning if the market enters a new range against your position, get out of it quickly. Since the chances of it coming back into your range are rare. You losses will escalate.

9) Know when to exit your trade. Let your winners ride till the next resistance or support level. Just because you start making money on the trade, dont get out of it, unless you can find a reason to.

10) If you feel uneasy, get out of it. Your subconscious is telling you something is wrong with what is happening.

11) Dont feel you have to trade all the time. Only trade when the opportunity is there. Trading is very similar to hunting. Your funds are limited given the size of the market. Meaning you might only have 20 arrows or 20 bullets that can be used to fire. Its pointless to keep firing them into the air. When things are just right and optimal, FIRE!. The top 5% do this. It can turn markets.

12) Dont leave your position unattended, meaning dont step away if your highly leveraged, and go to the beach unless you have a wirless access to the market that you can keep tabs on it.

These are some of the rules that come to mind. Whenever I stray from them. I get smacked. I have screens all over the house. I have wireless PDA's next to my bed, that I can look at if I wake up in the middle of the night. I have projection system that puts prices on the wall. Its a constant battle and I feel that I am a warrior. Extreme discipline is needed to do this.

expecting 124 in the coming months.

http://www.screencast.com/t/CPdTSn4rmp

some price action

Nicely written!!

Nicely written!!

Plz ignore last post.