fridays trading, page-51

Hiya Pwillow1, good ta see you sticking to your guns.

This will prolly sound a bit picky but was a point I tried to get across in conversation with you a week or two back...

The eddies n riffles that you look at as MY primary focus, are the little tells in the market that give a great indication to the bigger picture... 'tis not the only concentration...

Truth be known I think the stream analogy is a bit jaded but for example... if one sees increasing eddies, then the beginning of rapids, and a roaring sound, at first in the distance and then getting louder and louder... 'tis a reasonable assumption to think that mayhap a waterfall is in the offing...

I guess what I am trying to say here is that, like by50... I am CONSTANTLY in the market... i am a trader... this involves both short and long term positions...

thus I am constantly in the stream (to keep that analogy going) and I "read" the stream as it carries me along.

A differnt view perhaps, but let us revisit how we first met, on the gold thread, as I gave support to a fellow trader's contention that the "smart Money" was moving into US$ and rumblings were going on, a roaring sound was in the distance and all looked appropriat for a $USD rally.

Could I have said Dubai might default on its debt? hell no... All I could say was that observing the eddies and flows of the market was that I think I can see a waterfall approaching.

This led me in turn to "stalk" the AUDUSD pair, and capture a short position ... yesterday... near the top of its waterfall... details of which are in the blog in my sig.

So appreciate I am still young in the trader game, and sometimes I am hard to understand in what I do.. but what I do with t/a is track big money...

If a tracker who you don't know the methods of, stops by a pile of dung, sticks his finger in it and gives it a sniff...and says there is an elephant nearby... to assume and said the tracker is interested primarily in dung might lead you to be very surprised when said tracker continues on their dung sniffing ways for a few days or weeks, then comes back with a dead elephant over their shoulder.

To insist on still calling them a dung sniffer after such a performance could be less than noble.

;)