First week of 2016 over, kept the Gbp short going, didn't open anything on the S&P, it's Friday after all, only fools and horses open a new position on stocks on a Friday.
Now I wanted especially to talk about Gbp and that short, I like short term, haven't the patience for all that thinking miles ahead. I wanted too to mention this thing that guys get hung up on, the stupidity of separating FA and TA, if you live on the right side of the chart they are the same thing, they don't even have names, it's just one market.
Some guys say the market is always right, but is it?, maybe it doesn't know right from wrong, maybe just a load of people, mostly men, mostly smart asses, (plural right?) - all you have to do is get inside their head, they are mostly young, not so smart, and often running scared, scared that they will miss out, scared that their longs will get pulled down, or that their shorts get pulled up (like that little guy in the Simpsons).
Anyways, right side on Gbp, when I posted, I had the force (fundamental crap) with me, so that meant I could happily go to Moe's last evening leaving that trade open, the notion of needing to babysit that trade far from my mind, not even a SL, it just needed scared time.
This is the thing about FA, it sets direction in concrete, if you then want to incorporate TA, then great stuff, if not, also great.
The FA crap behind the short is just a bunch of guys around a table, admittedly not so young, but all wanting to be right. Last time they mentioned energy, time before they suggested that oil had hit a bottom, then on Wed they all looked at one thing - oil - grrrr... it's gone down again, guys what you think, is there likely a chance that there could be a push up on prices around the corner, maybe oil has hit a bottom.......what'll we say..... scared to wrong.... play it safe, be a dove.
Peterma's minutes of the BOE meeting on Wed past
First chart is a screen shot this morning (uk) so, if I was scared of getting my shorts pulled up and was into all that candle stuff, and didn't have the force with me.....
Second chart is the way things played out, I wish I could say that I used all sorts of fancy TA to enter, but I didn't, even the top short was right side, i.e. that was yesterday, by pure chance it looks like I hit a top, that's left side for you - it only makes you look good.
Right side rules
Now I wanted especially to talk about Gbp and that short, I like short term, haven't the patience for all that thinking miles ahead. I wanted too to mention this thing that guys get hung up on, the stupidity of separating FA and TA, if you live on the right side of the chart they are the same thing, they don't even have names, it's just one market.
Some guys say the market is always right, but is it?, maybe it doesn't know right from wrong, maybe just a load of people, mostly men, mostly smart asses, (plural right?) - all you have to do is get inside their head, they are mostly young, not so smart, and often running scared, scared that they will miss out, scared that their longs will get pulled down, or that their shorts get pulled up (like that little guy in the Simpsons).
Anyways, right side on Gbp, when I posted, I had the force (fundamental crap) with me, so that meant I could happily go to Moe's last evening leaving that trade open, the notion of needing to babysit that trade far from my mind, not even a SL, it just needed scared time.
This is the thing about FA, it sets direction in concrete, if you then want to incorporate TA, then great stuff, if not, also great.
The FA crap behind the short is just a bunch of guys around a table, admittedly not so young, but all wanting to be right. Last time they mentioned energy, time before they suggested that oil had hit a bottom, then on Wed they all looked at one thing - oil - grrrr... it's gone down again, guys what you think, is there likely a chance that there could be a push up on prices around the corner, maybe oil has hit a bottom.......what'll we say..... scared to wrong.... play it safe, be a dove.
Peterma's minutes of the BOE meeting on Wed past
First chart is a screen shot this morning (uk) so, if I was scared of getting my shorts pulled up and was into all that candle stuff, and didn't have the force with me.....
Second chart is the way things played out, I wish I could say that I used all sorts of fancy TA to enter, but I didn't, even the top short was right side, i.e. that was yesterday, by pure chance it looks like I hit a top, that's left side for you - it only makes you look good.
Right side rules