Posts by "daveo"

Catnip, of course its possible, anything is possible with trading. I daresay your own stuff catches you wrong footed sometimes but I like that you are trading using what I call "internals". Most conventional indicators simply lag price and only reflect what price has already done. Any experienced chartist can read price without having to look at indicators but indicators provide a clearer perspective of what price has done for those who are not yet fully tuned in. S & R's play sometimes and sometimes not and there are many ways of projecting them besides channels etc.

I use internals for trading stock indices. Breadth, volume, vix, trin, tick, market profile and bid/ask delta can provide valuable information but forex is more difficult since there is no central exchange for volume data. Correlations are important and can sometimes provide a leading indicator I have noticed. I shan't mention EWA which can be a leading map because it is so contraversial in this particular forum and not easily discussed in a static forum. Market profile also provides a useful map based upon volume over time behaviour.

There are many perfectly legitimate and different ways of trading. You should be more respectful in this context. I am not about to divert into your specific methods and I don't expect you to divert into my methods. The only thing that really matters is we each make good money from our methods and the time we devoted to this endeavour.

Ignore, I hear so often that forex markets are different to other markets. They are not. From a tech perspective Forex is the same as any other market and I have traded most of them over the years. Hard stops should be placed in the market at a logical point at which a trade idea is violated.

If traders get into the habit of moving their stops away from approaching price they will never make good traders, period. This is definitely not to be encouraged for novice or inexperienced traders as sooner or later their account will get wiped clean. Ashraf dances around the floor with fundamentals and he can trade how he likes and take full responsibility for his own trading, if indeed he does trade. Making calls for others to follow is a different matter which carries some responsibilty. There will be times when Ashraf, however competent, will make some bum calls. Good trading is directly related to good trade management.

Chloe,

The uk is effectively bankrupt just like the US, perhaps not quite such a basket case but we have the advantage of not being in the euro currency. The Euro zone is also efffectively bankrupt with germany being the only example of good housekeeping but can germany bail out all of euroland. I doubt it.

Its just a matter of time before we need our gun licenses for protection of ourselves and our families. Anarchy will be with us at some point in time which I cannot predict accurately.

Everything else is academic with the politicians and CB's delaying the inevitable for as long as they can.

Reps did not quite win the upper house = fed still in power. Bernanke quantified months of procrastination without having to dilute QE2. Hardly surprising DX continues down.

Ashraf, you misunderstood my post, probably my fault for not being clear.

I did not say you should be telling us when to get in and when to get out and even if you did that it would not override my own analysis and methodology. You work extremely hard imo but the forum is a mess with traders posting their trade calls and opinions without providing any substance or even referring to the timeframe they trade. I also have trouble understanding some of your one liners on twitter with regard to the timeframe you have in mind so to me twitter is also a "mess".

I feel the forum needs some guidlines to help dissipate some of the bickering wiith traders obviously misunderstanding a lack of information provided by those who like to make their calls. Sometimes I see a trader talking about what appears to be a very short timeframe with another trader responding by looking at a multi week or multi month timeframe. No wonder we have so much bickering in here.

If someone posts their opinion of S&R for example they should support that with relevant information on how they derive just as you will mention your MA's or stochs or whatever. I can think of many other examples where posts are not connecting the dots.

Since you do not have the time to moderate the forum the least you could do is to establish a code to encourage traders to provide suffcient information to accompany their calls. Otherwise better they do not post any analysis, opinions or trades.