Cable&Fiber: Intraday Setups

[the golden gun]

I'd hate to steer you in a direction that you would not otherwise have taken.

Well some hindsight stuff could remove you from that level of responsibility.

But the forecasted stuff is preferred. Otherwise how will I know you're not just some trader wannabe trading $1 pips and blowing hot air all over the forum?

 

[rod178]

Well some hindsight stuff could remove you from that level of responsibility.

But the forecasted stuff is preferred. Otherwise how will I know you're not just some trader wannabe trading $1 pips and blowing hot air all over the forum?

errr, that is what I want from you. ie analysis rather that pulling a retrospective fibs

The 53 min mark

https://www.youtube.com/watch?v=TLSGW3Kdfo8&list=UUtjxa77NqamhVC8atV85Rog

 

[rod178]

This may help you get beyond retrospective analysis

 

[the golden gun]

errr, that is what I want from you. ie analysis rather that pulling a retrospective fibs

No, that is what I want from you.

 

[Piper]

Hey hey hey! I'm back!!!! Beede to take a break from the vac.. >

Today marks the end of the first Month of the Cable&Fiber: Intraday Setups thread!

I took a few minutes to go through the entire thread and tally up the cumulative pip potentials of all the trade setups I've outlined in my first month.

*Drumroll*

140+30+150+60+90+90+95 =
bnj: 655 PIPS! bnj:


Now contrast that with the stated monthly goal in the OP:
How many pips???

ROFP (P=Puking)

too bad none of the 'forecasts' happened before the fact

MUHAHA

OK, I'll believe you, for once.

You need to add your image to the Raschke 'video seat', obviously you 'care'. Next to Piper would be fine. Suspect that he has been trained by the IDF.

The force shall suffice!

-P

 

[Fuzzbuggy]

Hey Rod, did you read Street Smarts and if so what are your thoughts? Is it worth checking out?

 

[rod178]

Hey Rod, did you read Street Smarts and if so what are your thoughts? Is it worth checking out?

I read it a couple of years ago and now realize what a valuable resource that it is, short and to the point. Linda only published one book in hardcopy. It is a classic, although beginners may not appreciate the gems of wisdom, from a true trader, within its covers. Hence I will study it again.

First have a look at Linda's free "Professional Trading Techniques" pdf, which I uploaded earlier. Attached again. The best free book on Trading imho. It contains most, plus a lot more detail, of what is in Street Smarts

 

[Fuzzbuggy]

Thanks Rod, i'll check it out over the weekend

 

[rod178]

MUHAHA

http://www.urbandictionary.com/define.php?term=muhaha

thanks, a new word added to my vocabulary.

 

[rod178]

MUHAHA

 

[the golden gun]

MUHAHA

No need for conspiracy theories when the chart cannot lie...

What has been the trend of the USD since the infamous "terrorist attacks"?...
Monthly market structure points to further USD weakness long-term. I think the current USD strength is a fake-out/stop-run in the making...

Seriously considering converting my USD-denominated accounts to something else (but what?) in the near future.

Related ZH article:
http://www.zerohedge.com/news/2014-09-12/obama%E2%80%99s-isis-war-not-only-illegal-it-makes-george-w-bush-look-constitutional-scholar

 

[the golden gun]

Special Market Profile Post

In this post, I'm going to share the Original ICT intraday market profiles. These are the ones that I first studied (back in December 2011), and the ones I have since committed to memory. I like their simplicity, and since I haven't seen much of ICT's latest work, I cannot say whether they have been redone or not.

Either way, I find these 3 profiles will outline the characteristics of intraday price action often enough to make a reliable amount of pips every week. You just have to know that all 3 exist, and have the experience to recognize early in the trading day, which is most likely to play out...

Here they are, in their original form:

 

[Piper]

...
Seriously considering converting my USD-denominated accounts to something else (but what?) in the near future...

Same problem.. Playing around with a few ideas, maybe to hedge 'em with gold? Meh..

-P

 

[the golden gun]

Same problem.. Playing around with a few ideas, maybe to hedge 'em with gold? Meh..

-P

ugh... paper gold doesn't make me feel any safer than a fistful of bernanke bucks.

It's (tungsten-free) bullion or nothing.

My top 3 are GBP (history and homeland of TPTB), CAD (responsible banking/fiscal, resource rich, yeah I'm biased), AUD (resources, good market for chinese interest)

EUR and JPY are crapshoots, no better, maybe worse off than USD

what did I miss?

 

[Piper]

ugh... paper gold doesn't make me feel any safer than a fistful of bernanke bucks.

It's (tungsten-free) bullion or nothing.

My top 3 are GBP (history and homeland of TPTB), CAD (responsible banking/fiscal, resource rich, yeah I'm biased), AUD (resources, good market for chinese interest)

EUR and JPY are crapshoots, no better, maybe worse off than USD

what did I miss?

Not much really.. Thats why i have that dilemma too..
http://goldsilver.com/
This looks interesting though..

-P

 

[the golden gun]

Not much really.. Thats why i have that dilemma too..
http://goldsilver.com/
This looks interesting though..

-P

There's no shortage of gold/silver brokers. I hate any kind of "we'll store it for you!" idea. When the shit hits the fan, I want my wealth insurance policy near to me, not at some easy to discover location for the gov't. Sorry if that's paranoid, but if you're going to hedge against a major world power collapse... don't put anything beyond the gov't desperate to regain control.

But I also hold the belief that eventually the paper price of gold will disconnect with real bullion prices. Paper price will drop, but supply of bullion will also dwindle... bullion will carry a "premium"... at least until people figure out the age-old Red Shield con.

Ideally, you would wait for paper prices to drop, and then soak up the last remaining bullion available at the artificially low prices.

or maybe everything will just work out! ...lol

 

[joepippin]

Same problem.. Playing around with a few ideas, maybe to hedge 'em with gold? Meh..

-P

Bullets. Water. Food. Things that people will trade for and that you can find use for. More realistic ideas for tradable items. Once we lose the reserve status completely how many people do you think will value gold over their next meal, or the security of their family. If you have a bunch of money in your "Accounts" Id suggest land in other countries.

 

[the golden gun]

this sums it up pretty well.

the problem comes when some leader of the US (I won't name names) decides that the military isn't just a Dollar defender... but also a humanity defender. When you start believing your own cover story, that's when things can go horribly wrong.

 

[the golden gun]

Bullets. Water. Food. Things that people will trade for and that you can find use for. More realistic ideas for tradable items. Once we lose the reserve status completely how many people do you think will value gold over their next meal, or the security of their family. If you have a bunch of money in your "Accounts" Id suggest land in other countries.

I don't think it will happen like that. That would imply that TPTB completely lost control. That's not going to happen, in fact they are consolidating their power.

They will create a new currency, but it will start out backed by gold... again. You see how they will perpetuate this con forever into the future?

Step 1. Create New currency backed by gold. Heralded as a return to stability. TPTB retain all the gold, and are still therefore the most wealthy in the "new economy"

Step 2. Encourage, passively or directly, the creation of debt, especially by the gov't. This looks really humanitarian as gov't debt spending helps the "citizens" in a way they can see and feel.

Step 3. Use the "humanitarian" need to create debt as an excuse to disconnect the New currency from its gold backing. (Remember 1971?)

Step 4. Hit the gas pedal on debt creation, which is now much easier with the currency being completely disconnected from physical gold holdings. The only limits then are how fast the Central Bank can hit Ctrl+P and maybe the cost of Ink to some extent

Step 5. Complete debasement of currency, runaway inflation. Gov't debt insurmountable. It becomes "unhumanitarian" to make the gov't accountable for its debt. A softer solution is needed...

Repeat, Starting at Step 1. >

 

[jack]

There's no shortage of gold/silver brokers. I hate any kind of "we'll store it for you!" idea. When the shit hits the fan, I want my wealth insurance policy near to me, not at some easy to discover location for the gov't. Sorry if that's paranoid, but if you're going to hedge against a major world power collapse... don't put anything beyond the gov't desperate to regain control.

But I also hold the belief that eventually the paper price of gold will disconnect with real bullion prices. Paper price will drop, but supply of bullion will also dwindle... bullion will carry a "premium"... at least until people figure out the age-old Red Shield con.

Ideally, you would wait for paper prices to drop, and then soak up the last remaining bullion available at the artificially low prices.

or maybe everything will just work out! ...lol

Yeah, that's the one thing I never quite got from the "I protect myself against the complete financial meltdown of the world economies by buying gold and silver" crowd (who are often backed by statements like: "gold has been a store of value for 5000+ years, it's safe")... if shit really hit the fan, what you'd want to have stock piled is practical things.. like barrels of gasoline, non-perishable foods, and pretty much anything that our just-in-time supply chain based society would quickly run dry on should our current financial system and infrastructure as we know it grind to a halt.

Oh, and you'd also make damn well sure no one else knows you have such stockpiles. Scarcity tends to create criminals, and there are many people out there with the "better you than me" mentality.

Or, put another way: "Society broke down and all you have is gold? That's great! I have a loaf of bread I'm looking to sell, and your children are starving; my price is 10oz of gold."