The Legend of The Gambler - page 45
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In the United States, all of the mass media is proclaiming the recession is over. However, I don't see any kind of recovery worthy of the recent upswing in the stock market. Banks are still insolvent because of bad loans, and they are only surviving because of the mark-to-fantasy accounting that is allowed. In my days, that is called cooking the books.
No one wants to take the loss on the real estate bubble. Every bank has learned to just string it out as long as possible so the government can step in and bail them out. No one wants to be the Bear Sterns to just close shop when they know that if it gets bad enough, the government will save them.
Until the loss on real estate is taken, there will not be any meaningful recovery in the US.
Kenny
In the United States, all of the mass media is proclaiming the recession is over. However, I don't see any kind of recovery worthy of the recent upswing in the stock market. Banks are still insolvent because of bad loans, and they are only surviving because of the mark-to-fantasy accounting that is allowed. In my days, that is called cooking the books.
No one wants to take the loss on the real estate bubble. Every bank has learned to just string it out as long as possible so the government can step in and bail them out. No one wants to be the Bear Sterns to just close shop when they know that if it gets bad enough, the government will save them.
Until the loss on real estate is taken, there will not be any meaningful recovery in the US.I got used to the idea that there will be no recovery....like EVER....so the smart people are buying farms and stockpiling on ammo...the only sensible way out...might buy some time....
wanna to ask an obvious Q
-- august, why most currency move so slow and take a summer break in some days
would it be -- same for every year, for august and december ??
( may not have real answer, but welcome to put your HYPOTHESIS out here) -- turtule slow and sometime hibernate for the day or 2
^ There is a saying in the markets, Sell in May and Go Away.
Usually the markets come back in October.
December is usually slow because 2 weeks out of that month is holidays, and many people are closing positions for tax reasons and window dressing for their funds. The profitable traders get out early to spend their money on gifts, and have their year end family vacations already planned out in Hawaii or somewhere warm.
August is slow because well, it's the summers. Most of Europe is on their annual holiday to Italy. Most businesses in Europe completely shut down during this time because they have over 5 weeks vacation for their workers, and they take like a month vacation in August.
Well, it seems that even though I had asked the COINTHL signal provider to cancel my subcription and unsubscribed in RAS. I was still getting charged $100 per month fee since April 2009 when I asked for cancellation. DOH!
I've contacted the signal provider directly, and he's responded to refund my money. He is a honorable man to do so because many would have just taken the money and ran.
And I'm very disappointed with the whole RAS experiment. Even when they end the signal, they don't have any method of canceling the paypal subscription, happy to take their fees.
My new idea is using engulfing candles at specific areas. The idea seems logical in my mind as the psychology of the mass sees an engulfing candle as a huge shift in momentum. And that is the type of fear reaction that I want to take advantage of.
I've been testing my engulfing candle idea, but I can't see to get it profitable. So before I burn my retina from all the screen time, I'm going to pursue another idea. I will focus on the EURUSD since it has the lowest spread. My target is to take 50-60 pips per trade. Instead of trying to ride the trend, I will trend trade on the EURUSD since it seems very choppy most of the time, it seems like the professionals are really yanking the currency around.
I will continue to use my fundamental knowledge of how price moves in general. I will try to put traps around where price consolidates and take a small chunk of the action after the greedy has exited, and a small shift in momentum is gathered on a fear pullback. So when a big move happens, the momentum is shifted in 1 direction to the extreme, I will take advantage of when the traders take their profit and exit. I will enter on the pullback. Of course, it is risky, but that's trading. My only problem is that I won't be able to trade this too often because it requires constant monitoring of price action.
Kenny
I got used to the idea that there will be no recovery....like EVER....so the smart people are buying farms and stockpiling on ammo...the only sensible way out...might buy some time....
Kenny..to do so,you need inflation to decrease face value of real estate to affordable levels..affordable by the ones that still have a salary or savings.
Pava:Your no recovery idea will be extremely interesting if you applied to yourself...;)...Please do so now...
S
Wiasel...
Kenny..to do so,you need inflation to decrease face value of real estate to affordable levels..affordable by the ones that still have a salary or savings.
Pava:Your no recovery idea will be extremely interesting if you applied to yourself...;)...Please do so now...
SJust lick your wounds...try to heal...and try not to fight with me anymore...
I don't think he's fighting.
He's stating a simple theory
You are stupid- and when two agree, well- it's just a obvious fact that you are stupid.
I think Simba might concur.
Just lick your wounds...try to heal...and try not to fight with me anymore...
...
I don't think he's fighting.
He's stating a simple theory
You are stupid- and when two agree, well- it's just a obvious fact that you are stupid.
I think Simba might concur.no one asked your opinion wall under...could there be 2 stupid people?