MightyMouse

Josh, The volume reaction is mixed. Sometimes it repels it and sometimes it seems to attract price. You need to know more about the volume to anticipate what the response might be when price approaches that area. So, if a lot of that volume was from traders shorting or selling, then there could be a lot of buying (short covering) the next time up or it could have difficulty pushing through that area if there wasn't a lot of shorting. If that Volume was from a lot of buying or short covering, then price may repel or struggle to go back down. The market needs a lot of traders willing to bid lower or offer higher than the current price to move in one direction or the other. MM

Vegemite is addictive.

He made me feel like an optimist.

It is in Goldman's best interest to put information out there indicating that they can achieve great results from trading a "magical system" that pulls money out of the market. The magical system attracts funds so that they can collect more fees. Goldman's edge is its knowledge of customer intentions and positions. This edge is something slightly different from the perceived edge of HF trading.

Seems like you are making a hope based assumption that only noobs lose.

In the US if the entity is a device that has an intent of circumventing tax payment or exclusion from countable assets, they are challenged by the IRS or state attorney generals.

Some things are obvious, though, I frequently ask the questions with obvious answers when I am bored too.

They are all on the same side and there is only one side. You make it sound like the democrats are defenseless victims and the republicans are evil omnipotent villains. Don't kid yourself. If you really want to help. start refusing the benefits that you receive for free from your government.

That all sounds like you are a very nice, thoughtful person. For your sake, I hope they appreciate it long after you are gone. Longer than you anticipate.

You could be right. I have never done well trying to predict anything's path. I leave that up to others to do. I am interested in the direction only with no interest on where it should be going.

If you want to get an estimate of volume in the currencies or in any instrument that does not report volume, then learn how to use Market Profile.The original use for MP was to estimate volume on futures when volume was not reported. The MP equation is Time x Price = Volume. If you know 2, then you know the third. Futures volume on currencies is just a sliver of the volume traded. I do not trust that it is a good representation of total volume.

That scene is one of my favorite movie scenes. It's second to the Christopher Walken, Dennis Hopper scene in "True Romance" MM

Gold is a metal and a commodity. It's price rise and fall is a result of supply, demand, and speculation. With all commodities, eventually supply increases. It's price ascent is a result of speculation. It could continue higher for years for all we know. After which we will all realize that it was part of one big bubble.

When you are dead they will figure it out because it will be very important to them to have your money so that they can spend it, live on it, etc. It will be money that they did not earn, so it is the best money ever to them. When the money is divied up, you will end up as a fading photo on a mantle, soon to be forgotten.

Yes, they suck amongst the best in the same way that the 1000th ranked tennis player sucks compared to the top 100 or top 10. But, someone earning 1200 a month on average on a 100k account is doing a whole lot better than almost all traders.

I agree wholeheartedly. Earning only 10% on average would suck for most aspiring traders, making it seem like it isn't worth it.

Is 10k all you have? If you need 72k a year to meet your expenses, then you are going to need at least 72k for your first year to make sure you meet all your living expenses. If you know how to take money from the market, then your good, bad, and even years should average out to a gain. that gain needs to be a minimum of 72k after trading expenses in order for you to survive going forward after your first year. If that average gain that you achieve is 10% then you need a minimum of 800kish to trade and provide yourself an income of 6k a month (720k + 72k for the first year). an average of 10% will not give you any growth in this example. If 10k is all you have, then waiting until you do have enough money might be your best option. It looks doable on paper; however, when you put your money at risk, you are trading against individuals who need your money to survive. It's like stepping into a ring to fight a UFC championship fight against a seasoned fighter after you have been hitting a heavy bag for a few months.

The worst type IMO are the vendors who spout that they make a lot of money and have a high success rate and are unwilling to substantiate any of it in real time. If you are going to boast about your success, you should be willing to disclose it or prove that you can do what you are saying especially if you are seeking compensation for whatever it is that you are selling. I do not think it is bashing when someone, like yours truly, tries to expose these individuals for what they really are. To me people who sell indicators are harmless unless they cross the line into the area where they are spouting how their indicator has made them successful and they now refuse to show that they can use their indicator in real time.

Is Tams, Racer X from Speed Racer?

Mr. Local, TL is a site that traders and students come to get free information and to exchange ideas. You and your type come here and try to lure traders, who are here seeking free information, into paying for your services. Your statements would be absolutely correct if it was your site that traders where coming to and trying to get information from you without paying. But that is not the case. It is their site that you came into trying to get them to pay. Your skill as a trader and value as a teacher should attract traders to your locale via the viral nature of valuable information. The demand for your services should determine the price that each trader pays. The success of your students should be advertisement enough to attract customers and, hence, revenues for your services. You should not have to be here soliciting business from traders who want information for free. MM

My mistake, then, if you do intend to use MA in your trading. I do not use them, but I do see times where using a MA would have been the best solution so if someone was using one the way I would have, he would have squeezed a lot of money out of the market. Hindsight. If one takes such a rigorous approach to technical analysis, she will end up standing on the sidelines, questioning whether she can ever develop a system based on lagging indicators. The problem becomes whether or not the mean remains stationary or not over the period that you are trading and using the MA. I am not suggesting that a rigorous approach is a wrong approach. If you are going to rely on TA then the conclusions you draw after careful analysis using a rigorous approach will be the right conclusion.

Wow. Yes typos. I was in a hurry. Money management is important. Risk management, I think, is more important. Quickly cut losses and admit that you might be wrong right away.Small losses are awesome compared to big losses. Doing so requires you to have a certain level of humility. When you are in a profitable trade, look for reasons to stay in the trade instead of reasons to get out. In doing so, you will frequently donate a decent profit, but it allows you to achieve larger profits. I am not suggesting that you recklessly press every profitable trade. On the other hand, always be open to the possibility that something bigger could be happening. If something bigger is happening, you want to leverage your position to take advantage of it. Humility and fearlessness are not items that you will find on a chart. How or why you enter make less of a difference than what you do when you are in. I had a thread that detailed my trades. You need to find a method that you are comfortable with.

Seems like you won't be using a moving average.

Huge profits come from being at the right place at the right time and knowing how to take more money from the market than the market takes from you. Being at the the right place at the right time is luck. knowing how to take money from the market is not. Knowing how to take money from the market is your consistently is the "edge". One can certainly not have an edge and be at the right time at the right place and make a huge profit.