wasp

I just want to clear any confusion I may have aroused. I do feel sorry for the likes of Gammajammer (to a degree) but NOT those who orchestrated and allowed the ludicrous mortgage lending.

This is all becoming too obvious... Gapped up as expected. Especially with the infuriating bank bailout here. Now its Japans turn to feel the squeeze as the pound rises back up a bit, everyone eases off a bit and the TV informs everyone they can relax as the good old government bails out the greedy idiot bank CEO's who helped cause the mess with their mortgage lending and we are all safe. So they borrow to bail them out from their gambles and the bank of England makes money back on the interest from their loans, everyone is told the economy is leveling out yet the average man gets fucked whilst the fat cats still get richer. Makes you sick.

No, but they are the ones who should be suffering. 'Swashbuckling risk takers' didn't cause the credit crunch or economic crisis, greedy bank CEO's did but its never the real guilty who get punished.

Yep, life is harsh and every day, somewhere in the world, someone is losing out due to something that probably wasn't their fault but end of the day, I agree, who cares?

The same as we should feel sorry for anyone else who has lost out (in whatever form - jobs, homes...) as it wasn't the traders faults.

Where next? (my attempt at being Buffet!) http://news.bbc.co.uk/1/hi/business/7521250.stm

Interesting stuff cowpip. I am hoping this won't happen as it really makes S/R a pain but I digress........ I was thinking Friday, as the Nikkei plummeted, that these things are cyclical. Last year the US started heading downhill and the dollar was getting punished as cable rose above $2. Over the last 2/3 months, the credit crunch has affected Europe and thus, the pound and the Euro has started to take a beating. So now both the economies are in worse shape than Gordon browns political future yet the pound is the one thats down as it hit us second. As of the end of last week, it hits Japan and bang, we bottom out and move back up to end the week. Not a huge amount but still pushed back up. Yes we are still in the downtrend but, if the last 12 months are anything to go by, the Yen should now take a beating and the pound recover, even if only slightly. Not that it matters to much to a TA day trader but just thoughts................

The dynamics of market movement are the same regardless (just on a larger or smaller timescale dependant), and the economy makes no difference whatsoever to how traders perceive value and where and how they place their orders on an intraday basis. (The only reason I did not do as well as I should this week was stupidity and a bit of bad luck in which trades I caught. Take a look in my blog for more detail.)

I'll just do this first...... For your trendlines: double click line, go into properties and on the 2nd option page, un-check 'ray' and that will stop the lines continuing forever. On the first section you can change thickness and colours. For the Horizontal and Vertical lines: same thing. For the general layout: Right click the screen and choose properties. Then you can change everything from grid colours to candle bodies. Other helpful tips: Tools: options: objects: = change the magnet sensitivity to 0 and you can put the lines on the chart EXACTLY as you want them rather than them snapping to grid. I also remove the toolbars and move the line studies out of the screen to the top as a floating window just so you get more 'screen'.

Congrats! Nice one, glad to hear someone had a good week and they have it all in check... Long may it continue!

You and me both. 3 times the monitor has nearly found its way into the garden via the patio door and I just missed the 2nd leg up as my re-entry into the move, which I spent 4 hours watching and waiting for, went beautifully just after I was stopped out. The retrace earlier caused me to miss 100 odd then this move I am not in is as strong as hell! I knew it was due too, been saying it all day and I got stopped out just prior to it happening. I am not happy. I know it happens to us all but I feel I have been taunted this week. Strict discipline caused a miss of 500 pips. Laptop dieing on me missed the 400 back up. I miss out on the down-move yesterday and buy into it thrice due to misleading support, then today....... I've not sworn so much since I was 14! :angry::angry::angry:

Hmmmmmmm, just as I expected......

Makes you wish you traded longer term really.... Would have been great shorts!

and...........................?!

Yes but I was just looking at the 'bigger picture'. I can't trade my style of dailies though really... Not ideally anyhow. Long atm from 167.30 and hoping with the Nikkei dieing, its the Yens turn to fail and we should make back some ground. Hope so anyhow so we have more solid S/R to work from. If we break 168.50 then next up should be 170.50 region and then it gets a little easier (if we stay up there)

Not that I see the point in trying to find the bottom, we do have a problem in that we only have data on the daily TF pre 9/11 (coincidence?)... Looks like we may have support around here according to the monthlies but ATM, I can't really trade below here as without S/R, I have nothing to gauge by.......

Apart from the 3 successive long setups that normally net me an average 1000 pips a week, neither do I!

Arrrrr, 'tis true what you say, but it's no good if your 'cunning plan' keeps telling you to buy support!

I've given up on support... there is none! Anywhere! On anything!

Ahhh, bugger! I have nothing either... Gonna have to use dailies mate! I'm switching off for now though. Had enough this week... Blog updated and chart later but right now I've had enough. Hope you can find more data!

ahhh, cheered me up! http://video.supernovatube.com/play.php?viewkey=50b58051bda2c11721e5

.........and laugh, and laugh!

On the flipside though we should rejoice. For a change its all those companies and banks that have screwed us all over the years getting what's coming too them. Shame so many regular people have been affected too but to see my old bank (all their own faults) go under makes me laugh, and laugh, and laugh!

Ouch......!

Just having one of those weeks where I'd have been better of doing the opposite of every time I clicked the mouse button. If it wasn't for the scotch the computer would be on the lawn by now!