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The Really Useless Thread

Quoting sisse
{quote} I am sure you did but don't forget that everybody have them all the time .... the key is in managing risk not in having technical triggers (if I just trade technical reasons alone I will have +500 trades a week ...je je je ) ...and thats where most newcomers (and not so newbies) around FF fail miserably: Instead of evaluating risk with their TA to take only the proper trades, they obsess in trying to take every single move. Thinking that "missing"/overlooking a move is a sign of a bad trader when the true is actually the opposite. The best...
Hey I need this kind of lessons ( awareness ) now and then.

I had good reasons to take trades in most of times, but due to fear ( Impatience ) I close them out early or letting the losses to run. I agree it is so important to manage trades ( Risk ) I need to sharpen by listening the lessons here by you in this thread.
Intraday only.
Quoting navk
{quote} Hey I need this kind of lessons ( awareness ) now and then. I had good reasons to take trades in most of times, but due to fear ( Impatience ) I close them out early or letting the losses to run. I agree it is so important to manage trades ( Risk ) I need to sharpen by listening the lessons here by you in this thread.
Nice paycheck this week buddy! Well done. Couldn't get any better, sleeping while making money. I myself had some perfectly fine shorts until a couple of moments ago. All stopped out at BE I guess it's time to reload.
Quoting sisse
{quote} I am sure you did but don't forget that everybody have them all the time .... the key is in managing risk not in having technical triggers (if I just trade technical reasons alone I will have +500 trades a week ...je je je ) ...and thats where most newcomers (and not so newbies) around FF fail miserably: Instead of evaluating risk with their TA to take only the proper trades, they obsess in trying to take every single move. Thinking that "missing"/overlooking a move is a sign of a bad trader when the true is actually the opposite. The best...
this wisdom comes from a very bloody experience, every trader recognize his face here, four years of trading and no end to learn...
Quoting ExForX
{quote} Nice paycheck this week buddy! Well done. Couldn't get any better, sleeping while making money. I myself had some perfectly fine shorts until a couple of moments ago. All stopped out at BE I guess it's time to reload.
Some would argue the ability to stop a loss is much more important than the ability to make profits. BE + 1 add up over the years
Quoting sisse
{quote} I am sure you did but don't forget that everybody have them all the time .... the key is in managing risk not in having technical triggers (if I just trade technical reasons alone I will have +500 trades a week ...je je je ) ...and thats where most newcomers (and not so newbies) around FF fail miserably: Instead of evaluating risk with their TA to take only the proper trades, they obsess in trying to take every single move. Thinking that "missing"/overlooking a move is a sign of a bad trader when the true is actually the opposite. The best...
Great post. The importance of risk management simply cannot be overstated.
First round of closes completed.

No surprises, Dax, CAC and other EZ Equites closing better than the ones with hikes in play (BOE and FED). Extended ECB QE will help Euro country equities sustain a lot better the impact on hikes. FTSE on the other hand closing in a very bearish close and it looks ready in the launching platform for the RMT mid term leg to 592x until the end of the year.

Second round of closes coming in energies and commodities in a few so keeping a close eye in the markets.

Euro trading air at this time and levels so nothing to see until the closing session in currencies ....

sisse
Pending conversations? PM for a chat...I am mainly in OTM now
Quoting sisse
First round of closes completed. No surprises, Dax, CAC and other EZ Equites closing better than the ones with hikes in play (BOE and FED). Extended ECB QE will help Euro country equities sustain a lot better the impact on hikes. FTSE on the other hand closing in a very bearish close and it looks ready in the launching platform for the RMT mid term leg to 592x until the end of the year. Second round of closes coming in energies and commodities in a few so keeping a close eye in the markets. Euro trading air at this time and levels so nothing to...
I still see 1.096x as a possible area for M roll else it would be 1.103x ..
Get Rich or Die Tryin
Quoting hoom
{quote} I still see 1.096x as a possible area for M roll else it would be 1.103x ..
oh yeah sure.... anything below 1.101x will do it now ....

sisse
Pending conversations? PM for a chat...I am mainly in OTM now
Quoting sisse
{quote} oh yeah sure.... anything below 1.101x will do it now .... sisse

working on week 0974 ish atm... under 0964 is even more
those who can, do. those who cant, talk about those who can
Quoting Replicant
Imo : Yesterday eurusd found a support @ 1.0892 at the bottom of the current pitchfork channel (see file attached) Expected target of such pattern is the median trend line of the channel ie. >1.1350/1.14xx !! I am wondering if this is the scary movie they want to play, killing the time till next friday.... I am long term short on eurusd so no worry, but crossing the ichimoku cloud @ 1.1140/1.1170 with a second clean candle of confirmation may open the road for a triple top @ 1.14xx before the (over)expected freefall to parity. {image}
For what is worth I agree. I expect dollar weakening for ~2 weeks in some other instruments other than e/u, but it is imho actually likely that it happens across the board. I think the seniors/pros here have an opposite opinion though and they do seem to know what they're talking about so I can very well be wrong... I am having my grids set up, so that if it goes the other way, the loss is negligible...

k
Quoting sisse
{quote} I am sure you did but don't forget that everybody have them all the time .... the key is in managing risk not in having technical triggers (if I just trade technical reasons alone I will have +500 trades a week ...je je je ) ...and thats where most newcomers (and not so newbies) around FF fail miserably: Instead of evaluating risk with their TA to take only the proper trades, they obsess in trying to take every single move. Thinking that "missing"/overlooking a move is a sign of a bad trader when the true is actually the opposite. The best...
Sisse, my dear sir, sadly, it's as if you are literally describing me. I'm almost completely finished, left just a couple of hundreds from my initial $10,000
Quoting ws121
{quote} Sisse, my dear sir, sadly, it's as if you are literally describing me. I'm almost completely finished, left just a couple of hundreds from my initial $10,000
We've all been there

burned 4k my first year trading. 2k in the first two weeks. then I wised up and started burning $200 accounts instead of $2000 accounts.

Take a break. It's either for you or it isnt, but if you feel it's for you, then learn from it, keep trying, keep learning.
Quoting ws121
{quote} Sisse, my dear sir, sadly, it's as if you are literally describing me. I'm almost completely finished, left just a couple of hundreds from my initial $10,000
I'm sorry to hear that. What's the bias? long/short?
Second round of closes coming with US equities selling off as expected after the failure to take R in the opening. Like FTSE, the S&P in a bearish close in the launching platform for 1925/3.xx by the end of year with the RMT leg. Highs of the year looks pretty much set in US and UK equities ...

Gold, although its closing in apparent chop zone in daily range, the monthly close is a strong bearish continuation down. A test of sub $1000 (990.xx) looks around the corner with extension 830.xx for the end of year / Q1 2016.

Oil not only pay handsomely (for those following !!!!) ignoring the long on Saudis news and hold tight shorts for the close but its closing in "scary" bearish mode. Without external factors (OPEC ? reducing pcc?) the current yearly lows are naked and a tiny wind will put oil at the astonishing $36.xx handle in no time. This move will bring a long tail across the board in all fronts so worth keep a very close eye even if you are not trading directly ....

Closes still to come in currencies but as WIDELY expected after the last intraday spike, EURO falling on air to find 1.096x area for the roll....

We'll see in a few...

sisse
Pending conversations? PM for a chat...I am mainly in OTM now
Rush Limbaugh's show had ads about gold skyrocketing to $2,000. Those ads are not running anymore.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
Quoting kprsa
{quote} .... I expect dollar weakening for ~2 weeks in some other instruments other than e/u..... I think the seniors/pros here have an opposite opinion though a.... so I can very well be wrong... I am having my grids set up, so that if it goes the other way, the loss is negligible... k
Thumbs up for posting your view. Its great to have different traders with different views, it makes discussions rich and interesting.

Most of the people in these boards are too "shy" to express clearly their trade opinions here. Those who have courage of their convictions (not to be confused with the stubborn losser) do usually better in trading than those "pussy" opinion / half baked bias, "maybe this or that" traders that when things go wrong they hide behind "I am scalper" or whatever that means...

My 2 cents, just drop the "I can very well be wrong" and the "the loss is negligible" as first we ALL CAN be WRONG (that is not news) and second, most of the good and serious traders around these boards don't give a damn and wont judge you when you are wrong (we are all wrong sometimes) because they know that is the cost of doing business....

GL managing your longs.

sisse
Pending conversations? PM for a chat...I am mainly in OTM now
Quoting sisse
Oil not only pay handsomely (for those following !!!!) ignoring the long on Saudis news and hold tight shorts for the close but its closing in "scary" bearish mode. Without external factors (OPEC ? reducing pcc?) the current yearly lows are naked and a tiny wind will put oil at the astonishing $36.xx handle in no time. This move will bring a long tail across the board in all fronts so worth keep a very close eye even if you are not trading directly ....
Good eye on oil and I am playing SnP short (via SPY bear call spreads) with short legs just a buck or two above the 2015 high, out at the quarterly expiry - 9/31. Counting on the oil slump and USD strength to drag on the US indices. If that does not pan out I am out there far enough to catch the Sept FOMC preemptive jitters.

Good luck sisse & thanks for your constant updates.
"If The Fool persists in his Folly he will become wise." - William Blake
Quoting The Fool
Good luck sisse & thanks for your constant updates.
Can't agree more with that. Learning every day. Maybe, in 10 years...
Took a small OIL short for beer money. Let's see how it pans out.

Have a good weekend!
Quoting sisse
{quote} Thumbs up for posting your view. Its great to have different traders with different views, it makes discussions rich and interesting. Most of the people in these boards are too "shy" to express clearly their trade opinions here. Those who have courage of their convictions (not to be confused with the stubborn losser) do usually better in trading than those "pussy" opinion / half baked bias, "maybe this or that" traders that when things go wrong they hide behind "I am scalper" or whatever that means... My 2 cents, just drop the "I can very...
Thanks, sisse.
Good luck to you as well.
k
In the euro, bearish close in Monthly, slightly bullish in Weekly but looks that the last rally was a dead cat bounce as expected .... We'll see the final answer next week for sure....

Got what i wanted so same levels, same trades, same all ....

sisse
Pending conversations? PM for a chat...I am mainly in OTM now
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