QE3 Rally: Get Excited at Your Peril .

"In the fourth quarter of this year we could head towards the fiscal cliff, have a country coming to the ESM and China slowing, you want to get excited, go ahead but you could get crushed," says David Bloom, global head of foreign exchange strategy at HSBC. Direct Link Here

I did enjoy David's Comments : "QE3 at infinitum" :0)

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Comment by ZeFxBrown on September 14, 2012 at 10:50pm: Bloom, Doom and gloom... He is aggressive however have a point about global growth and the need for deleveraging. At the moment, we are still in Denial ie Stage 1 of the Kubler-Ross model commonly referred to as the 5 stages of grief. Here is the link Kubler-Ross model for those of you who are not familiar with it. I see a nice parallel to Trading :)

Comment by Keith Shaw on September 16, 2012 at 10:00am: Boom, Doom and Gloom indeed ZeFxBrown, think we've been in the 'Denial' stage for a number of years now, has the Euro experiment turned in to a terminal illness which befits the Kubler-Ross model.

All a bit of an emotional roller coaster , optimism, pessimism or despair ? and as traders do we really care ? , if we can master those emotions and have a good trade plan, then it's money in the bank which is what we are after. NB What ever you do be sure to avoid these idiots :)

Comment by Keith Shaw on September 17, 2012 at 7:27pm: Interesting symmetry on the EU : Daily and 15 min

Daily

15 min

Comment by Peter jcp on September 17, 2012 at 7:49pm: Hi Keith - some nice charts on the EU being let out the vaults ;-). I blew the daily one up and had to get my electronic digital protractor and laser measurer to check those parallel trendlines and your angles - sorry 2 degrees out - you know how we need perfection - especially after what our friend Mr BT told us - to the nearest pip ;-)).

What's you opinion on that new high set today - false sentiment / bear trap - or further confirmations of the HH and HL continuation pattern?

Hope to see you in the "gate" chat this week so we can explore some other pairs further - have a good one - I am sure you will ;-))

Comment by Peter jcp on September 17, 2012 at 8:06pm: I should not be trading at this time of the day Keith - but still its for a good cause ;-))

Comment by majimaji on September 17, 2012 at 8:45pm: imho, i think that it might target below 1.3 if we break through 75/80 area

Comment by Peter jcp on September 17, 2012 at 9:15pm: I would agree Majimaji - if we break under 3075 it would show a clear lower high - which would need to be backed up with more lower lows. Atm whilst still above 3100 could still have another go higher.

I have just looked at the top 10 after a day in the FX contest and one guy as tripled a $25k account in the first day with a few doubling it !

I bet they wish that was real money ;-) also recognised a few from out the Forum in that top 20. At the other end I see we have some nearly wiped out their account in the day - guess they are pleased it's only a demo ;-)

Good trading to you all guys