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By a320's own admission, he creamed it on Friday, so sounds as if he can afford all those fivers! 
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hungrybear
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To be honest, I'd give it a 60:40 weighting of being the lead market, but I'm no expert, it's just an opinion! I've tried trading using this as an indicator and it doesn't really work; in reality each market has to be traded on it's own merits.
Right now each market appears to have a distinct EW pattern and whilst they sometimes converge they don't follow identical paths. Take the Ftse, which retraces a perfect 61.8% to it's low last March, making a new multi-year low in the process of an impulsive wave down. The Dow was in a corrective B-wave in the same time period. By default, if there is to be any convergence now, the Ftse has to complete a full ABC whilst the Dow completes its C-wave. Hope this makes sense, but if not just say so and I'll write it in more detail.
Right now each market appears to have a distinct EW pattern and whilst they sometimes converge they don't follow identical paths. Take the Ftse, which retraces a perfect 61.8% to it's low last March, making a new multi-year low in the process of an impulsive wave down. The Dow was in a corrective B-wave in the same time period. By default, if there is to be any convergence now, the Ftse has to complete a full ABC whilst the Dow completes its C-wave. Hope this makes sense, but if not just say so and I'll write it in more detail.
bottomdollar
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Hey guys,
Anyone wanna trade "votes"? I offer free votes for votes back.. now that's a deal you can't refuse
BTW, http://www.theswingmachine.com/DJIA_Projections/DJIA_Intro.htm
BD
Anyone wanna trade "votes"? I offer free votes for votes back.. now that's a deal you can't refuse
BTW, http://www.theswingmachine.com/DJIA_Projections/DJIA_Intro.htm
BD
hungrybear, I was merely cursious because I think most that I know would say that the US leads and the UK's FTSE will follow what ever happen "over there"....
It is rare that I hear someone say it is the other way round. I am not too bothered where we are in the big picture although it always helps to understand what the players are looking at.
What I am trying to tell anyone who will listen is that you dont need to know elaborate wave counts to make money in the market, and although it is an impressive exersice to be able to label all the waves from grand super cycle to minute wave counts, it is to me irrelevant when I trade. I have long ago given up on the notion that the market MUST do this or must do that.
Elliottwave is without doubt one of the best forecasting tools available, but you dont need to know where the market is heading to make money!
It is rare that I hear someone say it is the other way round. I am not too bothered where we are in the big picture although it always helps to understand what the players are looking at.
What I am trying to tell anyone who will listen is that you dont need to know elaborate wave counts to make money in the market, and although it is an impressive exersice to be able to label all the waves from grand super cycle to minute wave counts, it is to me irrelevant when I trade. I have long ago given up on the notion that the market MUST do this or must do that.
Elliottwave is without doubt one of the best forecasting tools available, but you dont need to know where the market is heading to make money!
DanielLambert
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Rosso's funds have still not hit his IB account!!!!
And he's just told me in the chatroom that he is gonna go nuclear if they havent arrived by tommorrow!
.......and we all know what the date is tommorrow.....
...... will this be the catalyst for the world shattering event???????
.....Russia will back him up , then the US will find an excuse to nuke France!!!!!!!!
And he's just told me in the chatroom that he is gonna go nuclear if they havent arrived by tommorrow!
.......and we all know what the date is tommorrow.....
...... will this be the catalyst for the world shattering event???????
.....Russia will back him up , then the US will find an excuse to nuke France!!!!!!!!
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be-positive
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Gentlemen,
I see that one of our lady members has more votes (well done bunny :cheesy: :cheesy: :cheesy: )
I see that one of our lady members has more votes (well done bunny :cheesy: :cheesy: :cheesy: )
be-positive
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No its not Helen-------- SS
Try again (prepare yourself for a shock ) I have left a clue :?:
Try again (prepare yourself for a shock
) I have left a clue :?:hungrybear
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Sunseeker: I agree with you regarding the market direction/earning money, though it helps to know the general trend. I've made a lot of mistakes over the last few months by ignoring this, though I do now have a fairly simple day trading system for the Ftse based on 2min bars and a 30MA line. My goal though is to develop a system for longer term trades so trading becomes less stressful and my personal psychological failings have less impact! If I could trade mechanically I'd do well, but to date I've found this difficult in a short time frame.
Bigbusiness
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The clue is that I pay a tenner. And it costs me a fortune! :cheesy:
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