Best Thread Correlation Trading - Basic Ideas and Strategies
NVP
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HI ALL
to regain sanity on a rubbish day heres what was happening this week using the higher timeframes / signals
great week for riding the euro and gbp.....see how early today the yen got north on the 20ma 1h and its been a mess ever since with the tag team not correlating much.......
such is life - have a good weekend
N
to regain sanity on a rubbish day heres what was happening this week using the higher timeframes / signals
great week for riding the euro and gbp.....see how early today the yen got north on the 20ma 1h and its been a mess ever since with the tag team not correlating much.......
such is life - have a good weekend
N
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NVP
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wise worlds fron Boris at BKForex.......
Trade Like Tony Montana ?
Fly on any Jetblue flight from New York to Fort Lauderdale and a curious thing will happen. If one of the Direct TV channels happens to be playing Scarface, every seat with a man in it will turn to that channel within 5 minutes until the whole plane is watching the movie. Guys love Tony Montana - the swaggering, psychotic gangster immortalized by Al Pacino.
Who amongst us can forget that final scene when Pacino faces a crowd of assassins screaming "Say hello to my leeeetle friend!" as he fires off his bazooka while he takes a shot after shot refusing to go down. Despite the comic book violence, and the psychopathology of the main character, most guys view Tony Motana with a no small dollop of romanticism. He represents our universal desire to take on the world on our own terms no matter the cost. But the cost matters, because in the end of course Tony Montana gets blown to smithereens and Oliver Stone ends the movie with the shot of "The World is Yours" trophy fallen on the floor.
I've been thinking about the Tony Montana character lately, realizing that I sometimes do a bizarre imitation of the "say-hello-to-my-leeetle-friend" scene when I fight the tape in FX. Did you stop me out as tried to short the top? No problem I can take it. Here is another order to sell. Another stop? Give it to me. More? Go ahead I'll take it all - I am stronger than the market, I can take it all. In any case you get the idea. After a while your trading account starts to look like Tony Motana's body and you begin to realize that maybe this is not such a good idea.
This week's moves in risk FX had many traders acting like mini Al Pacinos with euro shorts refusing to accept the fact that the currency was not going to implode anytime soon. The short covering rally was one of the most vicious spikes in recent memory, but if you've been in the markets for a while you knew that it wasn't that unusual. When the markets want to roll you can join them or get out of the way. If you chose to make a stand you will almost always be leveled to the ground.
Sun Tzu once said "He who knows when he can fight and when he cannot, will be victorious." This is perhaps some of the greatest advice that we can absorb as traders. Very often we trade not to win but satisfy our ego. Taking on the world, or the market is a romantic idea that we've all
been taught, but in finance that is a very expensive way to conduct your business. As guys we may all yearn for our inner Tony Montana, but as traders we should wise enough to know better.
Trade Like Tony Montana ?
Fly on any Jetblue flight from New York to Fort Lauderdale and a curious thing will happen. If one of the Direct TV channels happens to be playing Scarface, every seat with a man in it will turn to that channel within 5 minutes until the whole plane is watching the movie. Guys love Tony Montana - the swaggering, psychotic gangster immortalized by Al Pacino.
Who amongst us can forget that final scene when Pacino faces a crowd of assassins screaming "Say hello to my leeeetle friend!" as he fires off his bazooka while he takes a shot after shot refusing to go down. Despite the comic book violence, and the psychopathology of the main character, most guys view Tony Motana with a no small dollop of romanticism. He represents our universal desire to take on the world on our own terms no matter the cost. But the cost matters, because in the end of course Tony Montana gets blown to smithereens and Oliver Stone ends the movie with the shot of "The World is Yours" trophy fallen on the floor.
I've been thinking about the Tony Montana character lately, realizing that I sometimes do a bizarre imitation of the "say-hello-to-my-leeetle-friend" scene when I fight the tape in FX. Did you stop me out as tried to short the top? No problem I can take it. Here is another order to sell. Another stop? Give it to me. More? Go ahead I'll take it all - I am stronger than the market, I can take it all. In any case you get the idea. After a while your trading account starts to look like Tony Motana's body and you begin to realize that maybe this is not such a good idea.
This week's moves in risk FX had many traders acting like mini Al Pacinos with euro shorts refusing to accept the fact that the currency was not going to implode anytime soon. The short covering rally was one of the most vicious spikes in recent memory, but if you've been in the markets for a while you knew that it wasn't that unusual. When the markets want to roll you can join them or get out of the way. If you chose to make a stand you will almost always be leveled to the ground.
Sun Tzu once said "He who knows when he can fight and when he cannot, will be victorious." This is perhaps some of the greatest advice that we can absorb as traders. Very often we trade not to win but satisfy our ego. Taking on the world, or the market is a romantic idea that we've all
been taught, but in finance that is a very expensive way to conduct your business. As guys we may all yearn for our inner Tony Montana, but as traders we should wise enough to know better.
NVP
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you never can tell..........
hey all
it would be difficult to miss the pessimism on Euro in the press recently, and I have been kinda supporting that message here as well
there is literally no good news.......just lesser scenarios that may not make the medicine as bad for it........
we just need to tell the markets this as the Euro was a storming buy all week !
trade what you see and not what experts tell you will probably happen :smart:
N
hey all
it would be difficult to miss the pessimism on Euro in the press recently, and I have been kinda supporting that message here as well
there is literally no good news.......just lesser scenarios that may not make the medicine as bad for it........
we just need to tell the markets this as the Euro was a storming buy all week !
trade what you see and not what experts tell you will probably happen :smart:
N
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NVP
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for weekly action this holds as good as it did friday
http://www.trade2win.com/boards/for...g-basic-ideas-strategies-653.html#post1383962
http://www.trade2win.com/boards/for...g-basic-ideas-strategies-653.html#post1383962
Re: you never can tell..........
U r awesome to judge eur market. And I agree with u 95%.
eur's problem is long-term and has accumulated for ages, which can never ever be solved right now, the recent rebound is because that US government antagonized two currencies at the same time, eur and chinese yuan(federal reserve man attacked chinese yuan again last week, so for revenge, chinese government chose to buy Eur countries' bonds to protest that announcement). From that daily chart we can see that eur still could increase slightly in the following weeks because of strong momentun. Yes, standing in the way is not a wiser' style like u said. So basically, I ll prefer to long quarterly or two-weeks put options rather than short eur directly, my own strategy. Thanks for your analysis, I appreciate.
hey all
it would be difficult to miss the pessimism on Euro in the press recently, and I have been kinda supporting that message here as well
there is literally no good news.......just lesser scenarios that may not make the medicine as bad for it........
we just need to tell the markets this as the Euro was a storming buy all week !
trade what you see and not what experts tell you will probably happen :smart:
N
U r awesome to judge eur market. And I agree with u 95%.
eur's problem is long-term and has accumulated for ages, which can never ever be solved right now, the recent rebound is because that US government antagonized two currencies at the same time, eur and chinese yuan(federal reserve man attacked chinese yuan again last week, so for revenge, chinese government chose to buy Eur countries' bonds to protest that announcement). From that daily chart we can see that eur still could increase slightly in the following weeks because of strong momentun. Yes, standing in the way is not a wiser' style like u said. So basically, I ll prefer to long quarterly or two-weeks put options rather than short eur directly, my own strategy. Thanks for your analysis, I appreciate.
NVP
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Petar_Serbia
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Hell guys,
I returned from holyday and strat to trade tomorow..
Cheers
I returned from holyday and strat to trade tomorow..
Cheers
Hell guys,
I returned from holyday and strat to trade tomorow..
Cheers
u r the legendary Petar_Serbia. Lol...
Petar_Serbia
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?
Nothing, just in 1 week I heard this "name" from two guys. And now, u r here, finally.
Petar_Serbia
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Nothing, just in 1 week I heard this "name" from two guys. And now, u r here, finally.
Heheh
OK friend,i am Petar_Serbia from FF and maybe you seen there...Cheers
Petar :smart:
Heheh
Cheers
Petar :smart:
was the trend of eur beyond your imagination?
NVP
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