Speculation provides liquidity and price stability. Other than that, very little. If you need to feel like you're contributing to society then you can either go become a doctor, or make money trading and donate it somewhere worthwhile. Personally, I ...

What does a forex trader contribute to society?

@jay: Yeh, except it doesn't work that way. Most of the debt is bought thru structured debt products like treasury notes or bills. These have a fixed maturity date and a defined interest rate. Requesting early payment would be a horrible idea, as ...

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Today was all over the place. Rate announcements and the like. Tomorrow might be just as crazy w/ the NFP. Right now it just "feels" like the EU is trying to rally, but the DOW correlation is killing it. Of course that means we're in for a huge jump ...

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LOL. Less "protector of the dumb" and more "this crap again? Jeeze" annoyance. Oh, and leon... that "scambusters" thread is in the recycle bin now. Ironic, eh?

Weekend of the Instant Guru

He's saying if that weekly PB on the usdcad sticks around, you might see an effective short.

Silent Service Method

Wow, yea, I don't trade that way at all. I couldn't sleep at night if I did that, I'd always be worried that all of my losers would stay losers. Hehe. Sounds like what I was talking about last week, but got out when it was obvious the timing wasn't ...

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What if it never turns back? You don't use a stoploss?

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Notice how price fell below the support line. Look at the M5, you'll see a "box trade" forming... a tight little even range. A box is a decision point, the way it breaks is the way it moves. That's a tradeable event, especially right at support like ...

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I didn't know "Heiken Ashi" meant Hinky Cashew. Learn something new every day...

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Linda Bradford Raschke talked about this pattern in a recent audio series (posted on here somewhere). She relates to it as a tightening of volatility, followed by a big impulse out. She trades it on the pullback (to the blue line in your chart) ...

Silent Service Method

LOL. Those guys were higher than the DOW at 14,000.

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Uhm yea, I know that. LOL. You saying that "Yellow Submarine" wasn't drug inspired?

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So unless price breaks above the 2900/2950 level, then pulls back to retest (and doesn't fall back below) you wouldn't trade it? You'd wait for the pullback after the breakout to confirm support?

Silent Service Method

And apparently what he's been smoking... lol.

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Laff. Home, home on the range... where the pips and the price action play. Where seldom is heard a trending word, and price stays flat all dayyyyyy.

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Strange. My charts don't show anything there at all. What hour is your midnight? On H1 there's a small PB, but it's high is .5015.

Silent Service Method

Ah, didn't see that. I didn't actually trade it, not inside my time window and there wasn't any confirmation for a short anyway. But that's a good point to remember. I hate news... lol. Still, had there not been an interest rate thing, and if, say, ...

Silent Service Method

Means that sentiment is slowing down. Sometimes that happens naturally over the course of the day, othertimes it simply indicates changing sentiment.

When Sideways PA Breaks a TL

Hrm, if I'm reading this right the AUDUSD has a little setup that might be coming. There's an area around .6350 that shows up on the weekly. Price just broke thru it recently, and we have a PB that's pushing price back up to the area. If I ...

Silent Service Method

ROTFLOL. Ever seen GlenGerry Glen Ross? At the end of the movie there's a scene where he's calling his manager all sorts of names, then follows up with "You'd know if you ever spent a day in your life. You never open your mouth... till you know what ...

Silent Service Method