Forex Day Trader's Thread

[N Rothschild]

coming into earnings season..when people realise all these stocks they have been buying arnt yielding **** all and the p/e ratio is ridiculous they will dump that bitch like a bird with genital warts. And as deflation sets in it will driver it lower

 

[Pippy5000]

this is getting scary.. I'll give you that.. S&P down down down.. I'm up 10 pips

 

[N Rothschild]

as for the debt problem, i presume you mean government debt? well you just take a long time to pay it off! this isnt post war levels of debt which have been paid off in the past..will just take a long time and the goverments will need to move away from there socialist agendas

 

[bbc1183]

volume is just enormous... the big players are definitely selling.... goldman has been on the offer again since the open and the trader they call "number one" has been whacking bids with 2000 lot offers at a time.... thats huge, and its def a different kind of selling than we've seen on the previous little dips.

 

[N Rothschild]

if goldman are selling hard its becuase they know something lol

 

[N Rothschild]

where are you based bbc? i see 980 in the s&p short term! (week or 2)

 

[bbc1183]

im in atlanta, was in new york for the past few years tho

 

[N Rothschild]

you working in a prop shop?

 

[bbc1183]

i am, u? anyone else?

 

[N Rothschild]

nah trade from home, cant be assed with a prop shops coz all the uk ones focus on european markets and are at there desks for about 6-7am! **** that lol

 

[cpngtw]

no no, TA on daily is down

 

[bbc1183]

i like it cuz i work with some really smart people here... some big time traders.... our biggest trader did lose a quarter mil yesterday though... he had been shorting a ton of AIG which is hard to borrow as im sure u guys know... anyway, he got bought in a quarter mil out of the money yesterday which apparently is a risk at any time when stocks are hard to borrow and trading huge volume.... i might jump out the window if that happened to me haha

 

[cpngtw]

S&P is down in intermediate term, but not that fast. It'll hang in this level for quite a while though.

 

[Pippy5000]

I can't take another dip like that.. this is big time nail biter trade

 

[bbc1183]

yea man im not trading it today, i just dont see it. let it shake out

 

[cpngtw]

it's too volatile. Hey bbc, I don't know how it works in the prop shop, don't mind to explain?

 

[bbc1183]

i trade the firms money, not my own. the better u do the more money u get to trade. but u only keep about 50% of your month.

 

[Pippy5000]

I was lucky enough to grab it in my sleep at the lowest point so all of the choppiness is just noise in between my t/p and s/l.. it either holds or it doesn't ..

I have an order to go long 1.446 for 35 pips if it breaks and stops are run

 

[cpngtw]

i trade the firms money, not my own. the better u do the more money u get to trade. but u only keep about 50% of your month.

Do you mean you keep 50% of profit?

 

[cpngtw]

should now be starting wave 3 of the down move (monthlys) in equities..s&p 400 here we come

I don't see it that low though. But 500-600 is more likely