EurGbp: Look at "daily" & thou shalt understand why!

I'll just carry on talking to myself here; maybe the same fella who gave me some water to quench my thirst when I was crossing the desert alone, will return -- this time with some venison, wine and a belly dancer. Dreamin? .. yeah, baby, the heat of the sun will do that to you.

We've got to get down to serious EW study!

Remember my trading system? ..... Enter/exit when the head says No, the heart whispers compassionately, Yes -- and the soul demands it!

The good news is that this system belongs to each and every one of us natively. Where we differ as individuals is in our ability/disability to nullify/succumb (to) the destroyer (the sole reason for the millions of trading books on the market) who sits betwixt the head and the heart and corrupts and/or deletes messages from the latter 2 -- our allies.


The message is clear -- we've got to dig deep, revisit the basic EW rules, wave structural and aerodynamic theory and practice; dovetailing conventional TA with EW -- the personality and internal character traits of waves, especially the devilishness of wave 2, humiliating capability of wave B and the aborning thrust hinted by wave 4 ..... etc., etc. And of course, let's not forget about fibonacci wave relationships.

This is what we gotta do.

The time has come to get this underway.

I hereby start the ball rolling with a rule about wave 4, that now needs a clarification .....

saw this recently posted on EWI website -- never seen this rule written like this before, but it sure opened up the question ....

"Wave 4 cannot end in wave 1's territory!"

So the obvious question is, " can it ever enter wave 1's territory?" By this I mean, "can any part of wave 4, be it the beginning, middle portion or the end, ever touch or enter wave 1's territory?"

And by touch, I mean, exact price value, wherein the lowest low of wave 4 = the highest high of wave 1 (uptrend).

For this party to get underway, we need a teacher and at least one student. I believe we have a professor and more than one student.

We can't lose! :) :)

Too bad they don’t pay you back when they are wrong.

Signal Services,…………. They flourish with a majority of traders for many reasons but two stand out, imo;

1) Most traders will not take the time to study and learn their craft. The forex markets are the worst, with the low initial deposits and over leverage. The golden apple of instant wealth, get rich quick mentality, permeates thru this industry. People are drawn in with the schemes and then are misled by simple indicator based strategies, when all the arrows point down in the same direction, sell!! #%&@*!………….

There aint no system that will work in every different situation the markets will throw at you, if you take every MA or Stochastic cross, ect. you’ll be in that Commodore Hotel Bar singing them lonely broke blues with all the other Boys.

2) Most traders will not take responsibility for their own trades, at least if they follow a signal service or trade rec. - when their broker makes a margin call, they can blame it on some one else. Well everyone else lost today, I don’t fell so bad. Boy the markets are brutal today, They hunted my stops. The list goes on forever…… Hello!!!! If your having a bad day some else is having the new pool installed.

I’ll crawl down off my soap box…..

Study, learn your profession better than 98% of all the other traders, it’s a tough job - very few will really succeed…………..wonder how many subscriptions I can sell with that??

Scam watch early warning call!

The Money Trader -- a signal service.

Watch out -- you'll be dead and/or broke in 6 months!

Basic rule that has stood the test of time is as follows:

Those who cannot do, teach. Those who cannot perform in industry, become professors.

Trading is hard; only the tigers survive and even they have to be ever vigilant!

Signal\newsletter etc. providers cannot trade themselves; their only source of income is from your funds.

My personal experience with the Forex is that everything of bountiful, exquisite value came to me just like god-given gifts, such as air, water and love. No money was involved.

There are hundreds of signal providers around, but what makes this particular one lethal to your pocketbook is the dual famous names, Kathy Lien and Boris Schlossberg.

Both are technical writers for FXCM & Kathy has just written a book on FX trading.

I believe this service is not related to or connected to FXCM, but it is entirely possible that it is a strategic attack at the millions of wildebeast.

They want $1,500 per year for their signal service.

Having read their stuff for a few months at FXCM's website I can unequivocally state that both are terrible market timers.

Both are decent enough writers of technical points, but I believe an average technician, working on his own, can do far better.

Its getting so a Forex newbie can't even go to the can in peace anymore without some asshole taking a shot at his goodies!

:) :)

Waveid\blogspot crossed 78.6% retracement? :)

:) :)

I knowed we wuz in trubbel when waveid's traffic meter's wave C crossed the 78.6% retracement mark, a plot of land was p-oychased right adjascent to Moneytec's afterlife jumbalaya & 100s of winners popped open the lids of their coffins and in one unified voice screamed, "what the heck is goin on?"

This wave 2 down is brutal; and wave B of this 2nd wave even tricked a truckload of dead people; this is a new development in wave theory, for the dead are supposed to be left alone and respected. Wave C seems to have whacked the living on their heads with a saucepan.

This is not good; it was already not safe to go to the can in peace anymore; now the graveyard too?

What will be the trigger for firing off wave 3 up?

-----------------------------------

Two waveid fellas were walking home after a party and decided to take a shortcut through Moneytec just for laughs. Right in the middle of the cemetery they were startled by a tap-tap-tapping noise coming from the misty shadows. Trembling with fear, they found an old man with a hammer and chisel, chipping away at one of the headstones.
"Holy cow, Mister," one of them said after catching his breath, "You scared us half to death -- we thought you wuz a ghost! What are you doing working here so late at night?"
"Those fools!" the old man grumbled. "They misspelled my name!"

I'm fine, Dow you doing?

Here's the spot to hang-ten on an "A" wave

USDSGD: here's my EW count

I can see the entire island in under 2 hrs but I'll be damned if I can figure out the count with any degree of confidence!

ID: Need reinforcements; I'm outnumbered & outflanked!

I need your help, buddy. The count for USDTHB

USDTHB: Oanda has the data for the Father, the Son and the Holy Ghost -- i.e. Japanese Yen, Singapore dollar and Thai Baht -- all versus USD. Their relationship to each other w.r.t. USD is unmistakeable and their tight bond is in line with regional relationships in the stock market indexes too. Since early September 2005, the Baht's tight correlation suddenly derailed.


I've done well for 4 years knowing when to switch between one and the other (USD or THB) in a non-currency trading sense; but now, since I am a currency trader and live in SE Asia, the importance of this pair in my life has exponentialized.

There is not even one good, reliable conventional Tech. analyst (EW analysts? .. forget it!) in the region, so for years I've gone the Thai Stockmarket totally alone, generally against the entire stock analysts calls and have been winning, but I've come to a crossroads and I'm lost with regard to this pair since September.

This is the reason why I therefore stayed out of the Thai stockmarket since then -- I've lost out on stock gains by not playing, but due to the fact that the Baht is 90%+ positively correlated to the stock market, I felt that my uncertainty on the Baht justified my not entering the stock market.

OK then -- see monthly & weekly charts. If necessary I can shoot off the Metastock format to you -- data goes back to 1984 for USDTHB and to 1991 for USDSGD.

As for USDJPY, we have already discussed that before, so need to take it up again except as a reference, if necessary.

I do realize and know quite well that EW analysis insists on studying a market for itself, regardless of relationships to other markets, but I brought up the 2 other pairs solely for reference and background in the event it might help put some perspective on my dilemma.

Regards

Joseph

Dow Jones: One more shot at 11,200?

A fundamental analyst was on his way to the airport; suddenly, upon seeing a signpost, he became extremely disappointed and made a U-turn, muttering under his breath and headed back home.

Why?

Because the signpost said, "Airport left"

Interest rates

Einstein dies and goes to heaven only to be informed that his room is not yet ready.

"I hope you will not mind waiting in a dormitory. We are very sorry, but it's the best we can do and you will have to share the room with others" he is told by the doorman.

Einstein says that this is no problem at all and that there is no need to make such a great fuss. So the doorman leads him to the dorm. They enter and Albert is introduced to all of the present inhabitants.

"See, Here is your first room mate. He has an IQ of 180!" "Why that's wonderful!" Says Albert. "We can discuss mathematics!"

"And here is your second room mate. His IQ is 150!" "Why that's wonderful!" Says Albert. "We can discuss physics!"

"And here is your third room mate. His IQ is 100!""That Wonderful! We can discuss the latest plays at the theater!"

Just then another man moves out to capture Albert's hand and shake it. "I'm your last room mate and I'm sorry, but my IQ is only 80.

"Albert smiles back at him and says, "So, where do you think interest rates are headed?"