Posts by "daveo"

Someone says TA does not always work and someone says Fundamental Analysis does not always work.

I say neither method always works. I could site hundreds of examples of both methods failing. There are examples every trading day.

Why are we on this forum ? Why are we following Ashraf perspectives and btw Ashraf combines both approaches.

The forum is definitely not suitable for novice traders as there is neither a formal trading methodology adopted nor "trading" education provided. Anyone joining this forum who does not already have a well proven personal trade methodology and Trade Plan is highly likely to come a cropper attempting to follow others.

I honestly believe that all partcipants should refrain from claims that their way is the only way and become a lot more open minded. Their way might be the only way for them but it is certainly not and never will be the only way for all traders.

Catnip has been the classical example of a trader with blinkers, tunnel vision, and very obvious trading inexperience. I am not saying he has nothing to offer here but if he continues to aggresively provoke ongoing argument about techs v fundies the forum will degenerate to extinsion.

My own personal perspective is one of tech trader with very thoroughly developed methodologies fine tuned to suit me and my own personal psychology. I know a lot less about fundamental analysis but am interested to see if combining the two would add or detract to my typical bottom line each year. Jury is still out on that, I don't see any "magic" with what Ashraf is doing but then I didn't expect to see any magic :-)

EURUSD long, target 1.36

Ignore, my english lassy married me 40 yrs ago. I keep her well satisfied LOL

I have quite a few spreadbet and forex broker accounts, both dealer desk and ECN, so I can compare data across the board. I don't believe the CMC dealer desk op have wide scope for manipulating prices. What they might do is to mess with you on spreads and requotes at point of execution. An ECN broker pretty much mirrors the "real" market if they are using good size liquidity banks. I doubt that CMC would ever be more than 5 pips adrift of the real market. The biggest variations are seen with news spikes where spreads can vary enormously.

From a technical perspective the usdcad is in great danger of breaking into vertical development to the downside. Its been testing the lower regions of an important HVN (horizontal volume node) from the Dec 07 to July 08 coil. A break is likely to be dramatic as I have been alerting for last 3 weeks. As Rezz says, certainly can't rely on anything and the implications would be alarming for oil prices so let's hope the break down does not happen :-)