Latest Posts By elfinchilde
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| 16-May-2008 19:21 |
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Forex Junction
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hey, peace out, you guys. can just agree to disagree. after all, time will prove who's right in the market. and lots of ways to make money, in the end. talk is pointless. might as well focus on the market. on forex: yes, ipunter, i've taken a liking to the USD/JPY pair. :) i intend to specialise in just one or two pairs. rather know something very well than a lot half well. because the odds are against individual traders; we have to remember that. long term, the failure rate is 95%. techsys is right; ranging market. and yea, always lock in when target is reached. |
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| 13-May-2008 18:32 |
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Forex Junction
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hey baseerahmed, thanks for the cheers. :) and yeps, cashiertan, agree with you that ego gets one nowhere in the market. after all, we're small fries, and we got to remember our position (esp in the stock market). No point thinking one's big, and going against the BBs. agree with you too about forex: that it's about small consistent profits, not big bangs. Basically, one can only make what one's capital is. If you overreach, yes, you may hit it big, but the chances are also great that you'll lose it all. it all depends on one's personal risk/reward appetite, though. Nothing right or wrong either way. For me, i won't risk everything tho. The fact is, even for investors, they don't make it big by one big bang. Even Buffett didn't become rich overnight. If you track his funds, what they simply do, is to return 15% yoy on average, for 40 years. These years, he even warned that he'll return only betweenn 6-10%. True wealth takes a long time to build. right now trying to key the technicals for the jpy/usd. if anyone has any opinions, wld be glad to listen. :) |
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| 12-May-2008 19:42 |
First Resources
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First Resources
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careful FR. overbought already. wld give short term (within the week) max estimate 1.31 or so. likely within the next few trading sessions. |
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| 12-May-2008 19:39 |
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Forex Junction
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have just tried out forex (demo acct only; not starting live yet). just personal observations: btwn stocks and forex, forex is easier for a techie. if only for the simple reason that the forex market is too huge to be manipulated. whereas in stocks, let's face it, there are players in the counters and most counters are a hung jury. If you track counters long enough, you can even know which counter is a 'favourite' of which specific BB. (disclaimer: my personal opinions only) forex responds more purely to the charts, so you don't have to use multiple indicators, BUSD etcetc to judge. have been trying to key the technicals for each pair. so far so good. (working on the USD/JPY pair now). The euro/usd is a cinch to call. Only need SMA and candlesticks on one chart. Realised why a lot will lose in forex though. It boils down to one word: discipline. Don't enter a trade if the signal doesn't read buy. Don't chase a trade: let it come to you. Oh, and go small. Consistent profits daily/weekly. Not big bangs. That tends to get overridden by emotions. And most importantly, never go against the trend. meanwhile, back to the practice room for elfie. If anyone has any good advice, i'd be glad to learn. 
PS: i find the stop losses fiddly to set. *need more practice* |
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| 10-May-2008 23:21 |
Straits Times Index
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STI to cross 3000 boosted by long-term investors
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our market is very easily controlled because of its small size. so things like the dow etc are actually just 'fronts' for movement for the BBs. it's a mixed market now, really. some have bottomed out, others are just peaking. so best to follow individual charts for counters. 3,150 is the retracement level, we're close to that now. won't expect to see a lot of action in May, the way things are going. the foreign houses have been selling off S'pore on the counters i track for the past week. Summer holiday time for them. Habits rarely change. Keep a weather eye on gold. it's been going up. If gold keeps shooting up, it means stocks will likely fall. What's to watch out for is if across the board, all stocks exhibit signs of flagging. Currently that's not the case tho. |
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| 10-May-2008 23:17 |
Entertainment
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Fellowship of the Shares
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edit: hence going by the same logic, when markets open, a good level to short the GBP/USD would be abt 19562 or whenever the signals turn. (admin, we need an edit function for our posts.....) and hello to ipunter, too! |
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| 10-May-2008 23:09 |
Entertainment
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Fellowship of the Shares
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yay! my post worked! ok as goes, following from your chart, baseerahmed. the short signal for me actually comes on the candlestick after your drawn line, since the breakout could have continued on on the green candlestick. so i would have shorted at the point i marked out, as it was above the channel, williams showed overbought and trending down, 0 to -8.6 or thereabouts). the ride goes all the way to the bottom of the channel, at about 19521. which is where wills and momentum are at the lowest already, and just starting to turn upwards. if one draws the fibo on the daily charts, it's about there, too. and there's actually a second short signal for the garang people, which is at the red candlestick with the long tail after the first long red one that dips into the channel proper. Channel bottom was about 19504 or thereabouts. But i'd actually opt to lock in only after that, when the signals turn upwards (ie, move between the trend, not at the pivot points). Since then, you leave in the possibility of a crash through the fibo bottomline support. the shorter time charts wld show possibility of that occuring. do correct me if i'm wrong. i just started out on forex. heh. (enjoying it tho. muah hahaa.) |
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| 10-May-2008 23:00 |
Entertainment
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Fellowship of the Shares
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testing post....... (baseerahmed, cos i'm just new to forex too and have been learning it. hehe) 
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| 10-May-2008 15:13 |
Entertainment
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Fellowship of the Shares
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sorry, is it possible to paste up charts here without using an image hosting service? as in, d/l direct from PC to SJ. *blur* |
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| 10-May-2008 14:47 |
Entertainment
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Fellowship of the Shares
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baseerahmed, too many lines on your forex chart...... |
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| 08-May-2008 02:18 |
Straits Times Index
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STI to cross 3000 boosted by long-term investors
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just did some maths. concur with CWQuah. the dow max was about 13,036 for this time around. may be finally topping out for now (given the rash of bad news, yet the rally). A summer pullback is generally expected, as fund managers go on leave. STI-wise, yes, SGX is a good candidate for shorting. it's still quite a fair bit overbought. natural retracement. note: mixed market likely tho: the second liners are likely to go up. |
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| 07-May-2008 22:16 |
Entertainment
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Fellowship of the Shares
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hahahhaha! yes, shplayer! singaporegal, be so kind as to inform us of the date in advance so we can get out of the market. :P |
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| 07-May-2008 22:14 |
Trading Techniques
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Overbought/Oversold
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on a side note: be careful of using queue track/market depth: a lot of the BBs here do fake queues. So it *appears* as tho there's buying/selling pressure, and when they've collected sufficient lots, you'll see the large queues magically *disappear*. you need to really know your counters well, and have back memory of what's controlled and not controlled; what's fake queue, what's not. Essentially, we can never win against the BBs, so the key is to id which BB is playing what counter, and follow the biggest one(s). cos sometimes, they do go against each other. You need to follow the biggest one; since it follows in logic that who has deepest pockets wins. Also, because ultimately, the BBs are human too. And humans always have patterns of behaviour. you learn to recognise their patterns, you can tell who's playing what counter. Note: the above is for daily/short term trading. BUSD data is what works best then, and live charting. |
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| 07-May-2008 22:08 |
Entertainment
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Fellowship of the Shares
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nopes, never been to greece. *wishes she could pack herself into your luggage* :D yeah.....i wanna take a next holiday soon, too. lol. probably in august or something. and another in nov. heehee. |
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| 07-May-2008 22:04 |
Cedar Strategic
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It's Time Again
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this counter is perhaps best for experienced traders only, given its wild swings. in the words of a broker friend, "strong operators." wld still advise newbies to stay out of this counter. rapid profits yes, but also rapid loss likely. key it exactly on techs and don't let greed get to you. rem tho that Jade's breakouts can be very, very sudden. you need to watch the volume for cues. |
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| 07-May-2008 13:17 |
GLD USD
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Gold going up this year?
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lol. seems like a lot of the veterans here are loading up on gold. ;) markets appear to be topping out. be careful the rest of this week. a lot of the blues are overbought and coming down. it is more precisely a mixed market though, because some of hte second liners are actually going up. |
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| 07-May-2008 13:13 |
Straits Times Index
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STI to cross 3000 boosted by long-term investors
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hi livermore, would like to know what they taught you about the first buy in the TA course? market topping out is not a surprise, really. this was a rally on low vol. besides, the markets can only ignore bad news for so long. |
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| 06-May-2008 10:48 |
GLD USD
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Gold going up this year?
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hey ace6868, paiseh, i bought some gold yest at 85.4. only started entering it tho. try to get it below 86 if possible. if you're willing to hold to year end, the target is actually ~120 this time around by fibo. USD will continue to go down; but on the plus side, the sing govt is not likely to let the S$ strengthen too much against the USD, cos then our exports will not be cheap enough for outsiders (nevermind if the locals suffer *sigh*)---the lowest likely is USD 1.3 : S$ 1. Actually, this current rate of about 1.35 : 1 is the low already, with 1.3 being the lowest low likely. So what we're expecting will be that the price of gold rises above the potential future weakening of the USD. which is likely anyway. Again, pls note that this is for long term holding, not short term trading. Impatient traders can find better counters for faster returns. cheers! :) |
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| 05-May-2008 22:33 |
Entertainment
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Fellowship of the Shares
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tanglinboy: http://www.legendwaterchalets.com.my/deluxe.htm highly recommended. sun, sand, sea, alcohol (you need to bring this yourself). 
oh, and a pivot point is where the markets are likely to take a new direction (be it up or down). ~3,280 is the pivot for this round. if it can break on increasing volume (which i'm not seeing), it'd be a renewed uptrend--whereupon you have a good run to at least 3,400. if not, it's a pullback. i want a pullback. 
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| 05-May-2008 16:27 |
Straits Times Index
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STI to cross 3000 boosted by long-term investors
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pivot pt for STI is abt 3,280. fyi. |
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