Stockmarket Trading, Forex, Commodities.

[Paulo1]

USA Banks and Corruption.

Chase Bank stopped all outgoing wires overseas..... and have a limit of 50K withdraw per month. Nov 17th this new rule is in effect.

You know what to do, as this is just the beginning. Other banks will follow forsure.

[likewise]

so basically you can deposit and then they own your money back to the 1920-30's..... USA big brother of the world, damn yanks.....

[Rimbuman]

Hi Paolo,

I came across some reviews about brokers and one New Zealand broker stood out (positively). I'm aware that there are no certainties but taxes and death but this could be worth checking.

Since you are from New Zealand (I am from Amsterdam, Holland :-) I was wondering if you know about this broker and what your opinion is about this company.

http://www.youtube.com/watch?v=4Ujx_LY2hgQ

http://dcfxbroker.com/

[Paulo1]

Some cool tunes.

http://www.youtube.com/watch?v=cFf85n-Im8Q&list=RDx4QYkHJuW48

Gold heading to 1050 once 1275 broken on a daily close??????????????????

Huge week, 17.3% profit. Best week this year.

Edited November 10, 2013 by Paulo1

[Rimbuman]

Some cool tunes.

http://www.youtube.com/watch?v=cFf85n-Im8Q&list=RDx4QYkHJuW48

Gold heading to 1050 once 1275 broken on a daily close??????????????????

Huge week, 17.3% profit. Best week this year.

EUR/USD I suppose? Surely waiting for the triangle USD/JPY to break :-)

It's almost the 5th year birthday of your tread (november 16 2008), congratulations and still alive and kicking.

[Rimbuman]

Hi,

Talking about USD/JPY. I'll take a chance. Maybe to quick but the daily and the weekly bars look good (strong inside candle set up)

So I think the bulls will be winning this one.

Entry at 99.250, SL 98.810 this trade could have a rising potential of 110.000 or more after taking 102.000

On the weekly and monthly there could be some strong resistance around 101.000 and 102.000 but if I am right and bulls break the triangle this resistance will be taken without taking this trade out at SL 98.810.

In the first instance no Take Profit Stop yet, trailing this one while in the green is hopefully the scenario. Obviously this trade or inside bar set up can develop in to a fakey but that is where the stop loss comes in.

[Paulo1]

Some cool tunes.

http://www.youtube.com/watch?v=cFf85n-Im8Q&list=RDx4QYkHJuW48

Gold heading to 1050 once 1275 broken on a daily close??????????????????

Huge week, 17.3% profit. Best week this year.

EUR/USD I suppose? Surely waiting for the triangle USD/JPY to break :-)

It's almost the 5th year birthday of your tread (november 16 2008), congratulations and still alive and kicking.

.

Gold and Silver markets saw another big down day for the sector on Friday, cancelling the buy signal. I warned for more correction earlier last month, expect to get a tradable low later this month

There are some signals of bottoming in Gold and Silver - but not enough to give a buy signal yet

A close above 1310 for Gold and a close above 21.85 for Silver is a first signal that we have seen the lows

Crude (DEC)

Daily Crude cycles are close to a projected cycle low

However, as long as there is no close above 97, the sell signal given at 104.50 continues. See little upside momentum until DEC.

US Bonds (DEC)

The sell signal continues for the US Bonds

However, still expect to see one more bounce in Bond prices into year-end

For now, a close above 134 for the 30 Year, a close above 127.12 for the 10 Year, and a close above 105.95 for TLT are needed to cancel the sell signal.

Euro

The Euro continues in its trading rage - but is still on a sell signal, as long as there is no close above 134.80 EUR/USD

Daily cycles are close to a low

Australian Dollar

Since the Aussie closed below 94 AUD/USD, it’s now on a sell signal – short term

While daily cycles topped, and are projecting a cycle low around DEC 5, the weekly cycles are up

Canadian Dollar

The Canadian Dollar is once again testing the 105 USD/CAD level . A close below 103.70 USD/CAD is now needed for a buy signal

Yen

Expect more trading range in the Yen until cycles top in a few weeks. Cycles are very close to a reversal. However, a close below 97.50 USD/JPY is needed for confirmation

Euro/Yen

I expect the Euro/ Yen to test the 136 EUR/JPY level later this month. Upside price target is still 136 EUR/JPY, and cycles still have to turn up to help to reach 136 EUR/JPY

A close below 130 EUR/JPY will be a sell signal

[Paulo1]

Hi,

Talking about USD/JPY. I'll take a chance. Maybe to quick but the daily and the weekly bars look good (strong inside candle set up)

So I think the bulls will be winning this one.

Entry at 99.250, SL 98.810 this trade could have a rising potential of 110.000 or more after taking 102.000

On the weekly and monthly there could be some strong resistance around 101.000 and 102.000 but if I am right and bulls break the triangle this resistance will be taken without taking this trade out at SL 98.810.

In the first instance no Take Profit Stop yet, trailing this one while in the green is hopefully the scenario. Obviously this trade or inside bar set up can develop in to a fakey but that is where the stop loss comes in.

I would be cautious with the UJ trade, now have a daily doji and 4hr doji. Both at resistance.

Edited November 11, 2013 by Paulo1

[Rimbuman]

Hi,

Talking about USD/JPY. I'll take a chance. Maybe to quick but the daily and the weekly bars look good (strong inside candle set up)

So I think the bulls will be winning this one.

Entry at 99.250, SL 98.810 this trade could have a rising potential of 110.000 or more after taking 102.000

On the weekly and monthly there could be some strong resistance around 101.000 and 102.000 but if I am right and bulls break the triangle this resistance will be taken without taking this trade out at SL 98.810.

In the first instance no Take Profit Stop yet, trailing this one while in the green is hopefully the scenario. Obviously this trade or inside bar set up can develop in to a fakey but that is where the stop loss comes in.

I would be cautious with the UJ trade, now have a daily doji and 4hr doji. Both at resistance.

I do realise this is a risky trade and I am maybe to early.

Risk/reward ratio is very good and if I get stopped out I will patiently watch and wait to re enter.

Lower timeframe doijies are easier to dodge, I risk 0.6% of total account.

[Rimbuman]

Hi,

Talking about USD/JPY. I'll take a chance. Maybe to quick but the daily and the weekly bars look good (strong inside candle set up)

So I think the bulls will be winning this one.

Entry at 99.250, SL 98.810 this trade could have a rising potential of 110.000 or more after taking 102.000

On the weekly and monthly there could be some strong resistance around 101.000 and 102.000 but if I am right and bulls break the triangle this resistance will be taken without taking this trade out at SL 98.810.

In the first instance no Take Profit Stop yet, trailing this one while in the green is hopefully the scenario. Obviously this trade or inside bar set up can develop in to a fakey but that is where the stop loss comes in.

I would be cautious with the UJ trade, now have a daily doji and 4hr doji. Both at resistance.

I do realise this is a risky trade and I am maybe to early.

Risk/reward ratio is very good and if I get stopped out I will patiently watch and wait to re enter.

Lower timeframe doijies are easier to dodge, I risk 0.6% of total account.

The UJ trade survived and most likely will be there for a wile in the mean time only one SL on five day trades this week with average R:4.

Have a nice weekend.

Edited November 16, 2013 by Rimbuman

[Rimbuman]

AU

http://www.kitco.com/ind/Conner/2013-11-15-Gold-Will-It-Drop-to-1-000-or-Was-the-Bottom-Formed-this-Summer.html

[Rimbuman]

For people who are interested and want to learn more about high probability trading there are many websites and books available for learning to trade, but selectivity is mandatory and there is a lot of rubbish out there.

Common sense (if you have some) is helpful.

Regardless how well educated (smart) you are, you will have to take some pain on the way to become consistent.

I've done the walk and I've lost my cockiness and irrational believes and became humble but sure.

This has been a process of about 25 years of my life (Im sure a lot of people can go through this a lot faster than I did)

I have to thank Paolo for waking me up because I had given up about trading while it is so very possible to be prosperous being a good trader.

Being a good trader is easy and it is not at the same time, you will have to put in a lot of serious effort to come out to be successful.

Happy trading,

Rimbuman

Edited November 16, 2013 by Rimbuman

[Paulo1]

For people who are interested and want to learn more about high probability trading there are many websites and books available for learning to trade, but selectivity is mandatory and there is a lot of rubbish out there.

Common sense (if you have some) is helpful.

Regardless how well educated (smart) you are, you will have to take some pain on the way to become consistent.

I've done the walk and I've lost my cockiness and irrational believes and became humble but sure.

This has been a process of about 25 years of my life (Im sure a lot of people can go through this a lot faster than I did)

I have to thank Paolo for waking me up because I had given up about trading while it is so very possible to be prosperous being a good trader.

Being a good trader is easy and it is not at the same time, you will have to put in a lot of serious effort to come out to be successful.

Happy trading,

Rimbuman

Good call on the USDJPY, was bit early for me. I did take the trade on the retrace to 99.38 zone wlith a low of 99.11 zone. , have a look at the 4hr candle retrace, the the engulfing candle closing higher was my entry. Had a 27 pip stop for a present gain of 73 pips and have taking 2 positions profit leaving the stop at 99.86. If the weekly high at 100.60 is taking out , see nothing stopping it moving to 103.50 zone.

CHFJPY at the big sell zone again. Worth watching.

[Rimbuman]

CU

http://www.kitco.com/news/2013-11-15/Why-the-Meltdown-in-Copper-Prices-this-Week-is-Very-Important-for-Precious-Metals,-and-Possibly-Equities-Markets.html

[Paulo1]

CU

http://www.kitco.com/news/2013-11-15/Why-the-Meltdown-in-Copper-Prices-this-Week-is-Very-Important-for-Precious-Metals,-and-Possibly-Equities-Markets.html

Long term Copper cycles project a good tradable low by late Jan 2014. Monthly cycles and zones take sometime to develop. Need to watch the weekly and daily charts for a signal then drop lower to refine the entry.

EY is at an important zone also. Sometime ago i mentioned 136.00 for that high. Currently at 135.19.

[Rimbuman]

I'm bullish on EUR/USD, looks good on the higher timeframes and I'll be watching for price action in the lower timeframes for entry today.

Maybe it will be one of my day trades on the EUR/USD that I will hold on for longer if it's a good trade of course.

I made the rule only to make two lower timeframe trades per day because in the lower timeframes there are way to many trading opportunities and the chance that that is going to cloud my trading could be a real danger.

It will keep me from overtrading and chasing price action.

Another way I see this is if you are only allowed two pops a day, it's like trading with a gun to your head, you really don't want to mess up these two trades and it forces you to seek for the highest probability you can find and for that it is also causing an automation to not trade when you don't see any opportunities.

It could be that there are some people who disagree with this idea, maybe I can be a little easier on this in the future but this is the way it is for me now.

[Paulo1]

I'm bullish on EUR/USD, looks good on the higher timeframes and I'll be watching for price action in the lower timeframes for entry today.

Maybe it will be one of my day trades on the EUR/USD that I will hold on for longer if it's a good trade of course.

I made the rule only to make two lower timeframe trades per day because in the lower timeframes there are way to many trading opportunities and the chance that that is going to cloud my trading could be a real danger.

It will keep me from overtrading and chasing price action.

Another way I see this is if you are only allowed two pops a day, it's like trading with a gun to your head, you really don't want to mess up these two trades and it forces you to seek for the highest probability you can find and for that it is also causing an automation to not trade when you don't see any opportunities.

It could be that there are some people who disagree with this idea, maybe I can be a little easier on this in the future but this is the way it is for me now.

Its a good rule to have. if i get 3 wrong in a row on the short term charts. (70 tick chart) I don't trade anymore that day. That hasn't happened for a while.

[Rimbuman]

I'm bullish on EUR/USD, looks good on the higher timeframes and I'll be watching for price action in the lower timeframes for entry today.

Maybe it will be one of my day trades on the EUR/USD that I will hold on for longer if it's a good trade of course.

I made the rule only to make two lower timeframe trades per day because in the lower timeframes there are way to many trading opportunities and the chance that that is going to cloud my trading could be a real danger.

It will keep me from overtrading and chasing price action.

Another way I see this is if you are only allowed two pops a day, it's like trading with a gun to your head, you really don't want to mess up these two trades and it forces you to seek for the highest probability you can find and for that it is also causing an automation to not trade when you don't see any opportunities.

It could be that there are some people who disagree with this idea, maybe I can be a little easier on this in the future but this is the way it is for me now.

Its a good rule to have. if i get 3 wrong in a row on the short term charts. (70 tick chart) I don't trade anymore that day. That hasn't happened for a while.

Your rule is not so bad either but still a little to advanced for me….

I got in on the EUR/USD trade at 1.34924 with SL1.34850, it wasn't the most logical entry but I had other things to do. Again 0.6% risk because I couldn't quite give this trade the time and attention it needed. No more trading today.

[Rimbuman]

I'll be looking for shortening gold and silver, I never thought I would be doing this but it to obvious what is happening. I might as well try to join a (short) ride.

[Paulo1]

EURJPY trade has now been closed at 135.90. Made the call \on this forum my target was 136.00. Booking a total profit of 423 pips on 10 contracts.

[Chivas]

@Paulo1

Just put my head around the door and pleased to see you are still pulling the profits. Thaivisa should be paying you for your contribution to this site !

[Paulo1]

@Paulo1

Just put my head around the door and pleased to see you are still pulling the profits. Thaivisa should be paying you for your contribution to this site !

Hi Chivas,

Good to hear from you. Hope everything is going well.

Watching cable right on the 1,6200 number.

[Paulo1]

I'll be looking for shortening gold and silver, I never thought I would be doing this but it to obvious what is happening. I might as well try to join a (short) ride.

I think this short could run longer than we expect.

AUDUSD also looks to be setting up on the longer term charts for a nice sell off. Needs time to set up.

Edited November 22, 2013 by Paulo1

[Rimbuman]

Hi Paulo,

Didn't have much time to trade and post, EUR/USD trade was a nice call got out near high before reversal. Though I still remain bullish for the pair longer term. For now I still have the USD/JPY and a Gold short spinning in de background.

Since a week ago I have a turtle to raise.

The turtle knows a little less than I hoped. I do have a lot good material for teaching but it still will be a challenge. I have to do my very best to keep this as simple as possible.

Price action together with classical trading patterns, will be the start.

I'd like to work towards a single trading strategy (for example pin bar reversal on s/r) on daily, 4hr, 1hr en 30 minutes on two or three major pairs.

If you have suggestions for teaching I'd be thankful, this is new for me.

I do this for free, my reward will be a firmer embedment of trading knowledge and hopefully mentoring skills.

Have a nice weekend,

Rimbuman

Great trading results you have, very impressive

[Rimbuman]

Turtle flipped out because of information overload and most likely returned to her binary options because it is only one click with the mouse and makes her feel she is an intelligent trader who will make money.

Unfortunately this person and many other people don't get it that it takes dedication, time and effort to learn to be a good trader, I realized this when I was 20 years and even (realizing this) than I didn't do it right, I would have cut off one of my own fingers at that time to be mentored by a guy who has what I have today.

I'm sad and disappointed about this, "but who cares" I am in Thailand posting this on Thai visa while Thailand is on the verge of exploding.

Only I care, because I do what I do and I value this because it is my time I put in for disappointment in return.

I am going to forget about teaching and focus on my own development, as a matter of fact I'm doing so well at this moment.

I moved away from higher time frames, realizing it bored the hell out of me and I am on the one minute now enjoying where the action is, R15 or sometimes higher can happen daily when you play it right. R15 or sometimes way higher on a single day is really big time.

I have met some Thai people who claim to be involved with trading SET or some local commodity, but I hardly can see any evidence of people maintaining their lives with this, besides my neighbor's across the street who are brokers and we as traders know how they make a living.

Sadly this has nothing to do with trading or supporting their life with sufficient income. It is all face and status and show that you are better that anyone else (as long as it lasts).

The money is great for me, but not my focus. My focus is on doing things right and trying to be and become the best trader conceivable.

By the way if you can, put some money safe in physical gold and silver because you never know, I personally don't trust what is going on globally, we might have to do with a deteriorating system that going to have a very necessary reset in the future.

This reset will be on something that has been proven over a long time ago, and it is going to come back precious metals.

just my 2 pfennigs

[Rimbuman]

Happy new year and a great profitable leap in the unknown for everyone trading.

Ive been quite busy with unrelated stuff to trading and trading, but i'd like to make more posts on the the subject about becoming a consistently profitable trader. Trading is in you, the market will do what ever it will do either if you take positions or not.

Simply said, your result (profit or loss) will be the result of your decisions that you make and not the action of the market because the action of the market will be there regardless of your decisions.

The approach of anyone trying to make some sense of the markets by trying to be consistent are most likely blown away by the random and limited price ranges that can occur, these markets moods or conditions are best to be avoided, but how do you know?

You will know by observing and stay on the side line using price action observations and act on opportunities when they come apparent.

Just a little thought I wanted to post

Edited January 4, 2014 by Rimbuman

[anon676545345]

Turtle flipped out because of information overload and most likely returned to her binary options because it is only one click with the mouse and makes her feel she is an intelligent trader who will make money.

Unfortunately this person and many other people don't get it that it takes dedication, time and effort to learn to be a good trader, I realized this when I was 20 years and even (realizing this) than I didn't do it right, I would have cut off one of my own fingers at that time to be mentored by a guy who has what I have today.

I'm sad and disappointed about this, "but who cares" I am in Thailand posting this on Thai visa while Thailand is on the verge of exploding.

Only I care, because I do what I do and I value this because it is my time I put in for disappointment in return.

I am going to forget about teaching and focus on my own development, as a matter of fact I'm doing so well at this moment.

I moved away from higher time frames, realizing it bored the hell out of me and I am on the one minute now enjoying where the action is, R15 or sometimes higher can happen daily when you play it right. R15 or sometimes way higher on a single day is really big time.

I have met some Thai people who claim to be involved with trading SET or some local commodity, but I hardly can see any evidence of people maintaining their lives with this, besides my neighbor's across the street who are brokers and we as traders know how they make a living.

Sadly this has nothing to do with trading or supporting their life with sufficient income. It is all face and status and show that you are better that anyone else (as long as it lasts).

The money is great for me, but not my focus. My focus is on doing things right and trying to be and become the best trader conceivable.

By the way if you can, put some money safe in physical gold and silver because you never know, I personally don't trust what is going on globally, we might have to do with a deteriorating system that going to have a very necessary reset in the future.

This reset will be on something that has been proven over a long time ago, and it is going to come back precious metals.

just my 2 pfennigs

Hi Rimbuman,

Trying to teach people to trade is usually a thankless task I think to become successful a person needs to be genuinly interested in what makes the market move not just motivated by the money. I've tried helping friends learn but invariably they can't stick to the system during draw downs, most people want to be correct on every trade and see their account increase 100% per month. To be successful in any career requires skill and education so it's strange that educated people approach trading and expect instant results without even learning the tools of the trade.

Trading forex can be a lonely profession it's not something you can talk about down the pub without boring your friends to sleep, most people think you're mad for doing it and are sure to go broke, when your doing well it's "luck" and if you have a bad day at the office expect an "I told you so".

Edited January 6, 2014 by Chartist

[MrWorldwide]

Opened a demo account today (Investopedia FXTrader, FWIW) just to have a play, and its a lot of fun. I'm sure that 'fun' would take on an entirely different meaning if it was my own money

Edit: just made a fictional profit of 126USD (a whole 2.5pips ...wow) and its easy to see how a few 'winning' trades like that could lead to a false sense of omnipotence. This would be a very risky way to earn a living once the 'Hey, this is easy !' voices started inside your head - 'just sit in front of the computer for a few hours a day watching the 10-second chart updates and close your position when the light goes green'. I worked with stockbrokers for seven years - I rarely traded in the market at the time, but I saw enough of their business to know that it wasnt a license to print money, even for the professionals.

Little wonder the brokers are so keen to sign us up for demo accounts

Edited January 7, 2014 by MrWorldwide

[Rimbuman]

Turtle flipped out because of information overload and most likely returned to her binary options because it is only one click with the mouse and makes her feel she is an intelligent trader who will make money.

Unfortunately this person and many other people don't get it that it takes dedication, time and effort to learn to be a good trader, I realized this when I was 20 years and even (realizing this) than I didn't do it right, I would have cut off one of my own fingers at that time to be mentored by a guy who has what I have today.

I'm sad and disappointed about this, "but who cares" I am in Thailand posting this on Thai visa while Thailand is on the verge of exploding.

Only I care, because I do what I do and I value this because it is my time I put in for disappointment in return.

I am going to forget about teaching and focus on my own development, as a matter of fact I'm doing so well at this moment.

I moved away from higher time frames, realizing it bored the hell out of me and I am on the one minute now enjoying where the action is, R15 or sometimes higher can happen daily when you play it right. R15 or sometimes way higher on a single day is really big time.

I have met some Thai people who claim to be involved with trading SET or some local commodity, but I hardly can see any evidence of people maintaining their lives with this, besides my neighbor's across the street who are brokers and we as traders know how they make a living.

Sadly this has nothing to do with trading or supporting their life with sufficient income. It is all face and status and show that you are better that anyone else (as long as it lasts).

The money is great for me, but not my focus. My focus is on doing things right and trying to be and become the best trader conceivable.

By the way if you can, put some money safe in physical gold and silver because you never know, I personally don't trust what is going on globally, we might have to do with a deteriorating system that going to have a very necessary reset in the future.

This reset will be on something that has been proven over a long time ago, and it is going to come back precious metals.

just my 2 pfennigs

Hi Rimbuman,

Trying to teach people to trade is usually a thankless task I think to become successful a person needs to be genuinly interested in what makes the market move not just motivated by the money. I've tried helping friends learn but invariably they can't stick to the system during draw downs, most people want to be correct on every trade and see their account increase 100% per month. To be successful in any career requires skill and education so it's strange that educated people approach trading and expect instant results without even learning the tools of the trade.

Trading forex can be a lonely profession it's not something you can talk about down the pub without boring your friends to sleep, most people think you're mad for doing it and are sure to go broke, when your doing well it's "luck" and if you have a bad day at the office expect an "I told you so".

Certainly so ,but it is ok for me like this, now I have all my time for my self without having to shift my focus too much. Scalping ear/usd on s/r reversals in the one minute time frame.

Price action only, no MA's, Fibbs or anything else.

[Rimbuman]

Opened a demo account today (Investopedia FXTrader, FWIW) just to have a play, and its a lot of fun. I'm sure that 'fun' would take on an entirely different meaning if it was my own money

Edit: just made a fictional profit of 126USD (a whole 2.5pips ...wow) and its easy to see how a few 'winning' trades like that could lead to a false sense of omnipotence. This would be a very risky way to earn a living once the 'Hey, this is easy !' voices started inside your head - 'just sit in front of the computer for a few hours a day watching the 10-second chart updates and close your position when the light goes green'. I worked with stockbrokers for seven years - I rarely traded in the market at the time, but I saw enough of their business to know that it wasnt a license to print money, even for the professionals.

Little wonder the brokers are so keen to sign us up for demo accounts

You might like to open a live (micro) account and trade 40 bath trades (10 pip) stop loss to see how your results are over time without losing your shirt if it doesn't work out in the beginning.