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The following user says Thank You to Big Mike for this post:
Good call although when the market was selling off down to 1.2930 I thought it would have eaten your stops for breakfast. Truth be told, I don't bother making predictions, it ruins my trading! Strangely in a sort of voyeuristic way I like to see what other people are doing like you are making public, but I don't use the information in any way for my own trading. OK if God came down and told me that tomorrow the Euro will hit 2.0000 tomorrow then I would undoubtedly go long, but it's like that clicheed old sign at the bar: In God we trust - all others pay cash.
You can discover what your enemy fears most by observing the means he uses to frighten you.
The following user says Thank You to Adamus for this post:
To be honest I haven't been paying a lot of attention tto the euro lataly and when I go back and look I just post what I see after just taking a quick look and that's why I ask others if they have any thoughts...kind of just bringing attention to it.
My primary focus these days has been the TF ...I've backed off from the euro with all this crisis stuff going on though what I throw out here is not necessarily just blather just some areas to maybe keep an eye on and look for PA if it makes any sense kind of thing.
Your smart to not blindly take trade advice and just see if it makes sense to you. I don't blame you for ignoring what others say...that cost me more money than I care to think about. I think over time though if you were to see someone be consistantly right (not saying I am) then you might take into consideration what they are saying more readily but like you say trade decisions should make sense to you and pulling the trigger should be a result of your plan.
...Your telling me for example to trade as I always would knowing some crazy headline out of Greece could come out at any time and wipe out my stops etcetera....I prefer to just trade something else during those periods
Edit: I know what your saying and don't necessarily disagree but I'm talking about being exposed to whipsaws and spikes and so forth that can and do happen in these periods
Last edited by kbit; January 27th, 2012 at 05:37 PM.
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I think it would be better said "no one fools the market for long" Case in point, the Fed's goosing of the equity markets. Once the LSAP was over, equities started to realize they were walking on thin air and ended up free falling. News and headlines do affect the market but sometimes it's only on a limited basis and dependent upon many variables such as source, etc. which will often create a knee jerk reaction which plays into price action. The Euro has been very good at that lately. If you disregard key economic events and announcements, you will definitely get hurt.