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-   -   The Really Useless Thread (http://www.forexfactory.com/showthread.php?t=310676)

attila Aug 21, 2011 12:02pm | Post# 31

For scalping I drop down to M15/M5 and apply the same "principles". The price is only traded on ONE TF at a time. I've said this before, trading moves from one TF to another all the time. One has to look at all TFs and figure out what a move on one of them will do to the others. The intra day tradeable trend is over when H4 says it's over. A turn shows first on the lower TFs. It starts there and it builds the higher TFs turning points. When that's done, the trading moves up the higher TFs and all the s/r, overlays on the lower TFs are being blown to pieces. Anyway, I don't want to monopolize this thread. I'll answer questions, and I will understand if this all sounds crazy. It does make sense to me because I've looked at these things for thousands of hours now.

I received this system for free and I'll give it away for free. I will not teach it because honestly I don't have the time right now. There is a time for everything.... I am not going to keep anything secret because the edge is still in watching these things for many many hours and building a trading strategy around it. That's the actual EDGE...

needpips Aug 21, 2011 12:23pm | Post# 32

u said it....no such thing as a magic buy sell button....spot on

For scalping I drop down to M15/M5 and apply the same "principles". The price is only traded on ONE TF at a time. I've said this before, trading moves from one TF to another all the time. One has to look at all TFs and figure out what a move on one of them will do to the others. The intra day tradeable trend is over when H4 says it's over. A turn shows first on the lower TFs. It starts there and it builds the higher TFs turning points. When that's done, the trading moves up the higher TFs and all the s/r, overlays on the lower TFs are being blown...

needpips Aug 21, 2011 1:06pm | Post# 33

One summer I sold meat out of a truck.....for those who arent familiar with this absolutely fakkin shite of a job...here goes.....Truck, cooler....knock on doors.

I started in the fancy neighborhoods....barely a sell....then one day my truck broke down and I rode along with another person. All black, poor neighborhoods....dicey....but almost a 75% success rate....and they always had cash. Like you, I learned the value of WHO is your target customer. Like in FOREX, Im learning not to implement my intuitions on the chart.....Its better when I READ what is right in front of my nose

I almost feel like I need to introduce myself, perhaps re intro, since all ya all did that exact thing...

I will go on like this.

I started trading stocks some years ago, and had zero comprehension of a chart only understood %gains and %losses, and in that, the latter of the two was the one I became most familiar with. I followed along a stock traders group, trying to see what they saw and trade what they traded and followed right along.

Having zero comprehension of MM or that stocks could be halted...

attila Aug 21, 2011 1:16pm | Post# 34

I gave away fliers by the Sears Tower, drove a cab (no driving experience, learned to drive while doing it), drove a limo for 6 years, went to school got my masters in CS, worked in Corporate America for another 8-9 years, started an Internet Business (failed) and now Trading.

Venice Aug 21, 2011 1:56pm | Post# 35

A while back I found the name of a highly touted indicator...surely, the Holy Grail...of course and again, because I always like to have another perspective of market, I downloaded it, and tried to apply it. Well, it was busted. Fucker wouldn't update and I kept having to refresh my charts to get it working proper.

I shot it over to Brother Venice, and he did a little magic on it to get it fixed but even at this, found the indicator to be of really not much use...so, I applied it like I do a lot of information. How would the M1 and M5 match?...

It truly is amazing how many strategies can be made out of simply applying one indicators slower period against a faster period of the same indicator.

RSI, CCI etc to name a few.

This indicator is neat in that it is counting, at its most basic level, the consecutive bull bars (+1) and bear bars (-1), then that value multiplied by the current range giving us a measure of velocity in pips per bar, so to speak.

When smoothed against a higher value and a lower value, you are in effect getting a switching of bias. Cool stuff... may apply this or something similiar to a possible 1m chart setup... my demand and supply levels are a bit too eradict there. Much more comfortable on the 10m. I think, on the 1m, I would prefer a price following system rather then a resistance/support zone.

pkimnyc Aug 21, 2011 2:00pm | Post# 36

My congrats to you brother ken for opening your thread.

PayTheLimit Aug 21, 2011 2:45pm | Post# 37

well I hope you have room for one more bastard in here brother...

kenfen69 Aug 21, 2011 3:42pm | Post# 38

well I hope you have room for one more bastard in here brother...
How could we say no to the biggest bastard going?

Welcome home, brother! Hope the soul batteries are recharged!

kenfen69 Aug 21, 2011 3:45pm | Post# 39

My congrats to you brother ken for opening your thread.
A-ha...there he is! Hope you're well, pk...and that you stick around...could be good pics!

PayTheLimit Aug 21, 2011 3:51pm | Post# 40

How could we say no to the biggest bastard going?

Welcome home, brother! Hope the soul batteries are recharged!
thanks bro, hope your been well...batteries full again, ready to make a run at the bastards...

kenfen69 Aug 21, 2011 3:55pm | Post# 41

Looks like some great posts everyone. Going to have to reread later, because I'm on my iphone. Had a pretty hardcore storm here a while ago...no power! Noice...was just at Costco this am, too! Could be eating a LOT of meat tonight!

No idea how long till power returns. Hope you're all sipping on some Sunday cold ones...beer church is in session.

kenfen69 Aug 21, 2011 3:59pm | Post# 42

thanks bro, hope your been well...batteries full again, ready to make a run at the bastards...
Good to have you back, mate...place is never really the same without you!

Good news on the batteries...the bastards are fakked!!!

kenfen69 Aug 21, 2011 4:08pm | Post# 43

Allow me to Christen the thread with the first...

THATS WHAT SHE SAID!
HaHahahaha...

And what a Christening it was!

Lol

PayTheLimit Aug 21, 2011 4:11pm | Post# 44

Allow me to Christen the thread with the first...

THATS WHAT SHE SAID!
lol, well done...

needpips Aug 21, 2011 5:34pm | Post# 45

Openning the week into TK session with a backfill for buys?
Looks so....I went sh....looking for 45 as well.....


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