still got my Eur short from 1.2037.... and have added another at 1.1974
closed out all others....
might take another Kiwi short if it stays up at these levels when I get back to my home PC tho.
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still got my Eur short from 1.2037.... and have added another at 1.1974
closed out all others....
might take another Kiwi short if it stays up at these levels when I get back to my home PC tho.
[:0] max saying to buy euro today [:0]
its a bit late for me
it would have been useful to say that yesterday not now. thats what I would be hoping for from such a service.
a/c has zero equity now [xx(] wonder how long before they close me out !?
Peat
Try using him as a contrarian indicator.....He says buy - you sell.
What was he saying yesterday?
Did he give a buy on GBP ?
arco
As this is nearly 24 hours old I dont feel obliged to keep it confidential
Max said of cable
OCT.10th,1.7600 - Sterlings preparing for break below KEY 1.7275 Supportto herald next strong sell-off toward the 1.6200 level over coming weeks--------------------------------------------------------- *GBP/USD DAILY VIEW* OCT.25th,
Sterling met 1.7730 corrective target But decline's inconclusive,requiring Break ofResistance 1.7570 to encourage Downtrend has resumed------------------------------------------------------------------------. ** EUROPEAN TRADING UPDATE ** October 25th, 1.7670S/T Indicators Mixed and so awaiting the next clear Trading Opportunity.
so he was bearish med term but mixed short term
generally the comments are all the same for the various USD crosses eg he was mixed for Eur as well but with the big downtrend ready to resume.
I guess its me that isnt reading him very well.
He seems to get it right often enough not to be contrarian hahah
Well I am hanging in with my Euro shorts , kind of leavin it up to fate now...
It took me a year to lose 2500 USD LOL
who is this MAX person?
Cheers, will have a look.Quote:
My highlighting....Quote:
quote:The Reserve Bank has increased the Official Cash Rate (OCR) by 25 basis points to 7.00 per cent.
Reserve Bank Governor Alan Bollard said: "As noted in our September Monetary Policy Statement, medium term inflation risks remain strong. Persistently buoyant housing activity and related consumption, higher oil prices and the risk of flow-through into inflation expectations, and a more expansionary fiscal policy are all of concern. While there has been a noticeable slowing in economic activity, and a particular weakening in the export sector, we have seen ongoing momentum in domestic demand and persistently tight capacity constraints. Hence, we remain concerned that inflation pressures are not abating sufficiently to achieve our medium term target, prompting us to raise the OCR today.
"The most serious risk to medium term inflation is the continuing strength of household spending, supported by a relentless housing market and rapid growth in mortgage lending. Significant dis-saving by the household sector is showing through in a worsening current account deficit, now 8 per cent of GDP. Borrowers and lenders alike need to recognise that the current rate of debt accumulation is unsustainable. The correction of these imbalances and associated inflation pressures will require a slowdown in housing, credit growth and domestic spending. We also expect a significantly lower exchange rate. The longer these adjustments in behaviour and asset prices are deferred, the more disruptive they are likely to be.
"Today's increase in the OCR, combined with higher world interest rates and pipeline effects from the repricing of fixed rate mortgages, are expected to slow the housing market and household spending over the coming months. However, the prospect of further tightening may only be ruled out once a noticeable moderation in housing and consumer spending is observed. Certainly, we see no prospect of an easing in the foreseeable future if inflation is to be kept within the 1 per cent to 3 per cent target range on average over the medium term."
Xerof
Spotted this on another site....may be of interest
Trader Self-Evaluation
Part One
What are Seven Key Areas that You Need to Work on to Become More Self-Aware?
By Van K. Tharp, Ph.D.
In my work with traders and investors I believe the most significant work that anyone can do to increase market returns is self work. Really understanding yourself and how you think can give you an edge that others in the market don't have.
As part of my Super Trader Program, I give a long questionnaire to each trader to do an evaluation of themselves. Some of the feedback that I get is that taking the test is like doing a Ph.D. program! It's that involved.
I consider the ten questions that I give my Super Traders to be the essence of this self-evaluation process— a minimum starting point for this type of work.
This week we'll start this process with just one of the points. My advice to my Super Traders is to spend at least an hour on each question—a day is even better. These questions are meant for you to really dig deep and come up with responses from your core belief structure.
Question of the week:
What are seven key psychological areas that you need to work on or are currently working on?
Don’t say “none” because that answer really suggests that you are totally unaware of what is going on with you.
We basically live in a society in which we are programmed to feel separate and alone from everyone else, programmed to follow the rules of the games that others invent for us to play. The net result is most people do the exact opposite of what is necessary for success. As you become aware of this, you’ll also become aware of all your patterns, beliefs, and emotions that you need to work on or clear out to become more successful as a trader.
Here are some examples that might fit some of you:
I really have a fear problem that enters into my trading. I want to make trades but I’m afraid to pull the trigger. And that fear seems to come up in other areas too; I guess I’m really afraid of failure.
I have some internal conflict when it comes to working on myself. On one hand I want to, but on the other hand, I’d rather do other things. Working on myself feels like having a tooth pulled. For some reason, I just don’t want to do it.
I don’t have any discipline. Sometimes I just decide to trade. I make almost random trades or take recommendations that I’ve been given, but just certain select ones appeal to me. And the net result is that those trades never seem to work out. (Note: this is also an incomplete answer. What is the selection process? What happens to those trades? Do you cut losses and let profits run? Are you compelled by some emotion to trade?)
My mother continually criticizes me. My mother gave me everything when I was growing up, and I’m very grateful to her. But she’s always telling me what I do wrong. In fact, it upsets me to be around her. Yet at the same time, I feel that I must support her. I need to find out why her criticism bothers me so much and what I can do about it.
I really don’t like to be alone. When I do all of things that are important to trading success, like psychological work, I have to go inside and search and that really disturbs me. Also when I try to meditate, things come up that cause me to be afraid. (And, of course, if you had this response, I’d want you to at least find out what’s trying to come up that is causing this).
Those five statements are just examples of what might come up for you. But whatever you find…look thoroughly. What’s really going on? What are the emotions you don’t want to feel? What are the hidden beliefs? What is the internal conflict where part of you wants certain things and another part wants something else? Who are these parts and what are they trying to do for you? (The concept of "parts" is covered extensively in the peak performance home study and 101 workshop)
Next week we will continue with another important self-evaluation topic.
Trader Self-Evaluation
Part Two
What are Your Key Beliefs About the Marke