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It's interesting to see a significant reduction in posts on the board...
Yeah...it's almost like some of the posters are taking a break from damage control as the shareholders meeting is over. My gosh...one particular poster was posting like a wild man prior to the shareholders meeting. Now that it's over...he/she probably sold their offshore shares and are fat and happy. Are some people breathing a sigh of relief because they bought themselves another year to perpetuate the scam? Sure seems like it.
Is a tweezer the same as a doji?
Well hello there Brother Glance. I'm here as well. I don't always have enough time to do everything I'd like to do...and Ihub sometimes has to take a back burner. The yen sure has been nice, eh?
Went LONG the GBP/JPY using a daily chart. It's in a consolidation pattern so I've been playing stochastics crosses waiting for the breakout. Also have confirmation on the cci crossing above zero and and the macd is gaining positive momentum. I ***ONLY*** go long at a support level. It's not drawn on the charts...but I used the fibs 100% retracement line as my support level. Went long at 208.52...minimum target is 210.30 with a possible breakout of the pattern. Target would then be an additional 1000 pips on the breakout. However...this COULD break to the downside as well but my bias is to the upside.
I've been using FXCM. When do other brokers open up?
livin- I got all of my training from http://www.investools.com and have been VERY pleased. I looked into Peter Bain but never bought anything from him.
Why....thank you there Brother Glance. Glad I'm able to contribute.
Do you still own your INVESTools shares?
livin--You can use a very systematic approach by not putting any more than 3% in any one trade. When you do the math...you can be wrong 50% of the time...not have a huge drawdown when you're wrong...and for every $5000 you have in the market now...will VERY VERY likely turn it into $1.28 million in 8 years or less.
Using this type of approach...depending on your system...you can be wrong 77% of the time and still break even.
In my opinion, proper money management is VITAL.
Did you guys buy INVESTools (ticker:IED) when I told you about it at $4...again at $6...and again at $8??? It's a LONG TERM buy and hold in my opinion folks.
so when do you guys hit the chat room?
Yeah...or set a wider stop loss. The aud/cad will likely go down. It's just a matter of WHEN in my opinion.
By the way...VERY nice call on the eur/jpy. I was thinking it would be ready for a short this evening but it looks like you were right on the money on that long play. Definitely not getting confirmation for a short tonight. Nice trade.
The only trend lines I drew were on the aud/cad. Is that what you're talking about or are you talking about the eur/jpy? Also, when I draw trend lines...I look at those support/resistance levels as ZONES rather than dead on accurate.
I thought about learning in real time as well. It's much cheaper just paying the money upfront. LOL
I hear ya. I'm thinking the commodoties stocks will have upward pressure as well. I'm hoping the CAD will offset the aud...and not have enough strength to push past the 100 sma...along with pushing up through the channel it has been in since 8/2005. We'll see. I actually exited the trade when i got to work and will wait for actual confirmation before entering again. Whew!
As a matter of fact...I'm so dang sure it'll drop at some point...I'm not even going to set a stop loss...AND I'm about to make a 30 minute drive into work.
Heck...maybe I should just go out into the backyard and blow my foot off the end of my leg.
I hope to have an account when I get into work. First time I've ever done this. CAT LIKE. LOL
Well there Brother Glance...you'll be proud of me this morning. I made one o' those cat like trades this morning. I got stopped out of my aud/cad last night. Damn thing ought to be headed down. lol At least...that's what my whiskers are telling me. Short at .8524.
My definition of a cat like trade for me:
Going against ALL of my own rules to enter a trade. In other words, I look at all of the indicators and I just throw them the hell out the window because I'm trying to time the exact top here. And to think...I went through over $11,000 worth of investors education and it all comes down to this. LOL
Well there Brother Glance...since we somehow became brothers...I can certainly hook you up with my wife's sister. In fact...I'll be happy to do that for you. I do have one question...what do they do to 49 year old men up there in New York that date 13 year old girls? ;)
Goodnight.
WOW...how do you trim the size of this huge picture? lol
I'm off to bed as well. I hope I still have an account tomorrow morning. lol
I just went short on the aud/cad. Classic case of a strong downtrend...indicators headed down after a bounce off of resistance. In at .8451...stop loss at .85 with a target of about 350 pips or so (width of the channel that it's been trading in since 8/2005).
What did you hear about GFT? What are some of the glitches?
Well...down about 7 pippers so far in this one. I guess the trade was up about 30 pips earlier. Oh well...let's see what happens with it tonight. It ought to go one way or the other.
Just went long the usd/jpy based on today's pivot points. Entry at 113.20 with a target of 80 pips. Stop loss set at 112.99.
Has anyone ever heard of either of these companies. If so, what have you heard? http://www.centralpips.com and http://FxRingLeader.com
As for me...I stick to the technicals pretty strictly. I don't even care about the news except to know the MAJOR news items that change the trends (i.e. interest rate policy changes).
As for talking to people...most people are too lazy to take control of their financial future. I don't talk to any friends or family about it. If you're on this board...congratulations...you're probably on the right track.
The new version of what? vaporware? lol
Just took 162 pip profit on the usd/jpy trade. I'm off to bed. Good night.
I don't know about balls of steel. I just don't have the time to do it any other way. lol
The USD/JPY just broke through a significant support level from 1/11/2006. If it closes below that level on a daily chart with a confirming candle the day following...LOOK OUT BELOW!! Up 165 pips so far on this trade.
Whew....five minutes. I don't think I've ever even looked at a five minute chart. LOL Are the technicals the same on those short timeframes?
Looks like the dollar yen is inching DOWN. NICE.
When do we get our surprise Brother Glance?
I like suprises Brother Glance.
ROFL- That was pretty good.
Yes...I really like the FXCM trading platform for ease of use. That's who I've been using as well.
I can't remember who suggested this...but it was someone on this board (perhaps Dr. Despot??). I decided today to switch over to http://www.gftforex.com They have the best platform I've seen to date for trading the forex. The only drawback is it may be a little complex for a total beginner because it's VERY powerful.
WOW...that was quick. LOL
Brother Glance...if you come over to the dark side (long term trend trading/investing), 30 to 50 pips is still pretty well break even. :)