Offshore Trader
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Baruch said:But it came back again.
By my interpretation you have to wait for the fake moves and we have seen the downside and upside efforts now. The next one should be the real one...
Offshore Trader
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I'm not a great one for technical analysis because it doesn't really fit in with my trading but I see there is an evening star on the daily charts suggesting that we will see some downside soon. The problem is that it could go up to 100 points higher from here without breaking the pattern.
Offshore Trader
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Short now and hoping that this doesn't add to a growing sequence of failures. If this is the bottom, I may scream!!!!!!
Perhaps the BOE will realise that my mortgage is much too expensive and cut rates.......
Perhaps the BOE will realise that my mortgage is much too expensive and cut rates.......
Offshore Trader
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Baruch said:Are you sure?
Well, that's why I didn't really understand BB when I read about it. I thought that the theory is that when London trade starts the big boys normal hunt for orders both sides of the opening level and then it does its stuff. Obviously the second move can also be the main one but not always. this is the problem with BB to me. If you set a b/e stop too early there is a good chance you just get stopped even though you are in the correct position but quite often the market moves one way before coming back again and going the other. I guess you have to find the system that works for you and go with it.
Good luck, I could do with some :cheesy:
a_gnome
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Baruch said:No, I have only seen his track record in Cable (322 pips so far in December - not bad
The blurb on the site says something about analysing the depth of market using some "special" data feed. From what I can gather you are supposed to log into his trading room and follow his signals for either the UK or NY session. I don't know how much warning he gives before a trade set-up. Have you heard of any anecdotal evidence about his service?
Very often these services look particularly good because they are "flexible" in their interpretation of what happened. For example in one of the videos of yesterday he says that he sets his stop to B/E. By my reckoning it looked like the market came back to touch this level before moving off again whereas he instead claims a profitable trade. Now it could have missed the stop by 0.1 pips or something or he could be using mental stops but one has to be careful with published results. I do quite a bit or work de-bunking systems and services and it doesn't take much tweaking to make a strategy look much better. Having said that at $249 for a month it might be worth a go if you have the time to spend all morning following his trades (which I don't) but it does all look interesting - they even offer a 30 day money back + interest guarantee and since his trades are followed in real time there can't be too much scope for cheating.
At the end of the day though, isn't it the old "fish vs teaching to fish" situation? If you just learn to follow someone else's signals you are not self-sufficient in trading whereas if you can learn to trade then you'll be self-sufficient for ever (hopefully).
Edit: I've just made it to Senior Member - hooray!
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