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  1. Is it Funny? BASED on a TRUE STORY M: Name of the game, move the money from your clients pocket. Into your pocket. J: Right. But if you can make the clients money, at the same time, isn't that advantageous everyone, correct? M: No, okay, number one rule of wall street. Nobody... Okay, if you are Warren Buffet or Jimmy Buffet, nobody knows if a stock's going up, down or sideways fu..ing in circle... M: It's all in "Furgazy". You know what Furgazy is? J: Yeah, "Furgazy".. It's a fake.. M: Yeah, Furgazy, it's fegazy, it's a wuzzy, it's.. M: Fairy dust, it doesn't exist. It's never landed, that is no matter, it's not on the elemental charge. It's not fu..ing real! Alright? J: Alright. M: Stay with me. We don't create shit. We don't build anything. J: No. M: So, if you got a client. Who brought a stock at 8, and now it's at 16. M: He is all fu..ing happy, he wants to cash it, and liquidate. J: He wants to take his money and run home. M: You don't let them do that. J: Okay. M: Because that would make it real. J: Right. M: Now, what do you do? You got another bright idea. A special idea. Another situation, another stock, to reinvest his earnings and then some. M: And he will, every single time. As they're fu..ing addicted. And you just keep doing this, again, and again, and again. M: Meanwhile, he thinks, he is getting shit rich, on paper. M: But you and me, the brokers? We taking home cold hard cash. J: Right! That's incredible, sir.
  2. Press Release Release Date: March 19, 2014 For immediate release Information received since the Federal Open Market Committee met in January indicates that growth in economic activity slowed during the winter months, in part reflecting adverse weather conditions. Labor market indicators were mixed but on balance showed further improvement. The unemployment rate, however, remains elevated. Household spending and business fixed investment continued to advance, while the recovery in the housing sector remained slow. Fiscal policy is restraining economic growth, although the extent of restraint is diminishing. Inflation has been running below the Committee's longer-run objective, but longer-term inflation expectations have remained stable. Consistent with its statutory mandate, the Committee seeks to foster maximum employment and price stability. The Committee expects that, with appropriate policy accommodation, economic activity will expand at a moderate pace and labor market conditions will continue to improve gradually, moving toward those the Committee judges consistent with its dual mandate. The Committee sees the risks to the outlook for the economy and the labor market as nearly balanced. The Committee recognizes that inflation persistently below its 2 percent objective could pose risks to economic performance, and it is monitoring inflation developments carefully for evidence that inflation will move back toward its objective over the medium term. The Committee currently judges that there is sufficient underlying strength in the broader economy to support ongoing improvement in labor market conditions. In light of the cumulative progress toward maximum employment and the improvement in the outlook for labor market conditions since the inception of the current asset purchase program, the Committee decided to make a further measured reduction in the pace of its asset purchases. Beginning in April, the Committee will add to its holdings of agency mortgage-backed securities at a pace of $25 billion per month rather than $30 billion per month, and will add to its holdings of longer-term Treasury securities at a pace of $30 billion per month rather than $35 billion per month. The Committee is maintaining its existing policy of reinvesting principal payments from its holdings of agency debt and agency mortgage-backed securities in agency mortgage-backed securities and of rolling over maturing Treasury securities at auction. The Committee's sizable and still-increasing holdings of longer-term securities should maintain downward pressure on longer-term interest rates, support mortgage markets, and help to make broader financial conditions more accommodative, which in turn should promote a stronger economic recovery and help to ensure that inflation, over time, is at the rate most consistent with the Committee's dual mandate. The Committee will closely monitor incoming information on economic and financial developments in coming months and will continue its purchases of Treasury and agency mortgage-backed securities, and employ its other policy tools as appropriate, until the outlook for the labor market has improved substantially in a context of price stability. If incoming information broadly supports the Committee's expectation of ongoing improvement in labor market conditions and inflation moving back toward its longer-run objective, the Committee will likely reduce the pace of asset purchases in further measured steps at future meetings. However, asset purchases are not on a preset course, and the Committee's decisions about their pace will remain contingent on the Committee's outlook for the labor market and inflation as well as its assessment of the likely efficacy and costs of such purchases. To support continued progress toward maximum employment and price stability, the Committee today reaffirmed its view that a highly accommodative stance of monetary policy remains appropriate. In determining how long to maintain the current 0 to 1/4 percent target range for the federal funds rate, the Committee will assess progress--both realized and expected--toward its objectives of maximum employment and 2 percent inflation. This assessment will take into account a wide range of information, including measures of labor market conditions, indicators of inflation pressures and inflation expectations, and readings on financial developments. The Committee continues to anticipate, based on its assessment of these factors, that it likely will be appropriate to maintain the current target range for the federal funds rate for a considerable time after the asset purchase program ends, especially if projected inflation continues to run below the Committee's 2 percent longer-run goal, and provided that longer-term inflation expectations remain well anchored. When the Committee decides to begin to remove policy accommodation, it will take a balanced approach consistent with its longer-run goals of maximum employment and inflation of 2 percent. The Committee currently anticipates that, even after employment and inflation are near mandate-consistent levels, economic conditions may, for some time, warrant keeping the target federal funds rate below levels the Committee views as normal in the longer run. With the unemployment rate nearing 6-1/2 percent, the Committee has updated its forward guidance. The change in the Committee's guidance does not indicate any change in the Committee's policy intentions as set forth in its recent statements. Voting for the FOMC monetary policy action were: Janet L. Yellen, Chair; William C. Dudley, Vice Chairman; Richard W. Fisher; Sandra Pianalto; Charles I. Plosser; Jerome H. Powell; Jeremy C. Stein; and Daniel K. Tarullo. Voting against the action was Narayana Kocherlakota, who supported the sixth paragraph, but believed the fifth paragraph weakens the credibility of the Committee's commitment to return inflation to the 2 percent target from below and fosters policy uncertainty that hinders economic activity. Statement Regarding Purchases of Treasury Securities and Agency Mortgage-Backed Securities Leaving the Board 2014 Monetary Policy Releases
  3. Our current system is like a 2 headed dragon, it dose not matter which head is chewing, it's still us they're eating.
  4. What I do not get from a chart is, adrenaline, fear, the smell of blood in the water.
  5. Nothing to do with PA, FA or TA,,, This is about understanding the human Element in the Pit.{of Dispair to Pr. Bride. movie fans} Pit Traders. {You really think they are rookies?} They have to eat, they have to pee and they have to get a grip on the Market direction. After all, this is not their first venture into the Market. Evolution told them to pee at the same time as other traders because they understood...that's when they get their ass whipped. Eating is optional. Market direction is in their hands. So... As an Outsider, {never had an inclination to stand in, or trade from, a Pit. All posts from the exposed Waaayyy more than welcome} I have observed the following. 8:00 AM Open to 10:00 AM = Rape, Pillage OR Stalk 11:30 AM Spike = Goin' to lunch and need some profit to Close. 1:30 PM Correction = OK, We're back and we're gonna move it as much as we can. {wtf were you guys thinkin'} 3:00 PM slowdown is caused by Daytraders getting out Early and Swings/Carry doubting their Trade will now Mature. If the above is a revelation to you, YOU still don't know the Market. To the others.... Correct my times if you feel the need. Now that you feel slammed... The Truth. Guess what. The pressure on a Pit Trader is {Guesultimate Only}1,000 times the pressure on you. {No consideration to Significant Other Pressures you may be under} There are numerous Small Windows / Day that will return you Profit. Not easily. But with study on Your Pair, it will become Obvious what Time of day your Trades have More POTENTIAL "Ohhh, Friday @ 3:30 PM EST and I only need 50 more pips to hit my TP...." "Good Luck but I know you will hit it on a Good day."
  6. GlassOnion

    The Club

    Purpose of this thread: a) offer analysis b) offer entry/exit in a timely manner - if not able to do in a timely manner (within minutes) abstain from publishing them in order to avoid discussions and rantings c) discussions regarding trading I would like to see that all traders are trading real accounts, and trades published are on real accounts, because we all know the psychological difference between demo and real account. On the other hand: a great idea/trade is a great idea/trade, regardless of demo, life account or theoretical. If the analysis is good, reasonable, with concept and so on, it should be valued high. This thread should not be a competition. Keep in mind: we are trading all our own "systems" with our own "money management". So for some of us 100 pips per day mean the world, for others the world is fine with 10-20 pips. I would also love to see from time to time analysis why a trade went wrong.
  7. On a different note: A Manhattan trader was killed Tuesday morning by a speeding Long Island Rail Road commuter train, marking at least the seventh suicide of a financial professional this year. Edmund (Eddie) Reilly, 47, a trader at Midtown’s Vertical Group, jumped in front of an LIRR train at 6 a.m. near the Syosset train station. He was declared dead at the scene. Reilly’s identity was confirmed by Salvatore Arena, an LIRR spokesperson, who said an investigation into the incident was continuing. Passengers on the west-bound express train told MTA investigators they saw a man standing by the tracks before he jumped in front of the train, Arena said. “Eddie was a great guy,” Rob Schaffer, a managing director at Vertical, told The Post in an email. “We are very upset and he will be deeply missed.” The divorced father of three had rented a house around the corner from his ex-wife, Michelle Reilly, in East Norwich, NY. One family friend, who said he spoke to the trader on Sunday, told The Post that Reilly “didn’t look good.” Separately: ■  Autumn Radtke, the CEO of First Meta, a cyber-currency exchange firm, was found dead on Feb. 28 outside her Singapore apartment. The 28-year-old American, who worked for Apple and other Silicon Valley tech firms prior to founding First Meta, jumped from a 25-story building, authorities said. ■  On Feb. 18, a 33-year-old JPMorgan finance pro leaped to his death from the roof of the company’s 30-story Hong Kong office tower, authorities said. Li Junjie’s suicide marked the third mysterious death of a JPMorgan banker. So far, there is no known link between any of the deaths. ■  Gabriel Magee, 39, a vice president with JPMorgan’s corporate and investment bank technology arm in the UK, jumped to his death from the roof of the bank’s 33-story Canary Wharf tower in London on Jan. 28. ■  On Feb. 3, Ryan Henry Crane, 37, a JPM executive director who worked in New York, was found dead inside his Stamford, Conn., home. A cause of death in Crane’s case has yet to be determined as authorities await a toxicology report, a spokesperson for the Stamford Police Dept. said. ■  On Jan. 31, Mike Dueker — chief economist at Russell Investments and a former Federal Reserve bank economist — was found dead at the side of a road that leads to the Tacoma Narrows Bridge in Washington state, according to the Pierce County Sheriff’s Department. He was 50. ■ On Jan. 26, William Broeksmit, 58, a former senior risk manager at Deutsche Bank, was found hanged in a house in South Kensington, according to London police.
  8. Working the soil does things to a man From head to toe, even his funny tan Maybe a little dirt gets in his veins Or the heat of the sun scrambles his brains With tiller and rake and shovel and hoe He puts on his gloves, he's ready to go He's out to battle with the rocks and weeds And straighten furrows to settle the seeds He feeds them and waters and cultivates And then he patiently waits, and he waits All season long he tends to his plants If he thought it would help he'd likely dance He may wonder if it's worth the toil Putting all that time into the soil Even the harvest may not seem enough In this high tech world of imported stuff But there's satisfaction he can't elude Raising and eating his very own food One more benefit plays a major part Enrichment in the soil of his heart April 27, 1997 D.P.Groberg
  9. ---------------------------------------------------------------------------------------------------------------------------------------
  10. The Penis Study. The American Government funded a study to see why the head of a man's penis was larger than the shaft. After one year and $180,000, they concluded that the reason that the head was larger than the shaft was to give the man more pleasure during sex. After the US published the study, the French decided to do their own study. After $250,000 and three years of research, they concluded that the reason the head was larger than the shaft was to give the woman more pleasure during sex. Canadians, unsatisfied with these findings, conducted their own study. After two weeks and a cost of around $75.46, and two cases of beer, they concluded that it was to keep a man's hand from flying off and hitting himself in the forehead.
  11. Inflation has been trending lower recently. That's one of the reasons they didn't taper as much on the last meeting. It will be interesting to see what happens. I'm pretty sure you know that the Fed doesn't use the CPI measure to measure inflation, but I'm going to add some information here for others reading this thread. The Fed often emphasizes the price inflation measure for personal consumption expenditures (PCE), produced by the Department of Commerce, largely because the PCE index covers a wide range of household spending. (source: FRB: What is inflation and how does the Federal Reserve evaluate changes in the rate of inflation?) Also, see trimmed mean PCE, an alternative inflation measure used by the Dallas Fed: The Trimmed Mean PCE inflation rate is an alternative measure of core inflation in the price index for personal consumption expenditures (PCE). It is calculated by staff at the Dallas Fed, using data from the Bureau of Economic Analysis (BEA). (source: Trimmed Mean PCE Inflation Rate - Dallas Fed) From the last link you can also see the 1MO, 6MO and 1Y figures. Obviously there's no threat of immediate inflation pressure.
  12. You measure everything in percentages. When you hear news, you don't think of it as good or bad, you think: As Expected, Better than Expected, Worse than Expected. You dream about your TP being hit on the trade you had open when you went to sleep.
  13. Since CB activity and monetary policy is one of the most important drivers of medium/long term price, I thought we should have a thread to follow and discuss the doings and happenings in the worlds central banks. Get to know the central banks: Structures and mandates http://www.investopedia.com/articles...ntralbanks.asp
  14. I hear you. Does anyone know what a "Message Boat" is ?
  15. I think that was a personal attack. If the Mods had any balls they would ban you from the forum. And I may get banned for saying this, but you are the rudest asshole I have ever come across on a forum.
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