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  • #1,183,181
  • Sep 8, 2020 3:11pm Sep 8, 2020 3:11pm
Quoting MrBullBear
{quote} He is easy to approach. Just throw some questions and he is willing to answer and share hiw he trades. Right now, he is mentoring Munchie, if you read pages back from where they started, you will learn already. But feel free to ask him a question. He has a good heart especially for traders who are lost in the woods. (Like I was before he give me some insights).
I will send him a message. Thanks.
Learn from your mistakes and march on.
  • #1,183,182
  • Sep 8, 2020 3:16pm Sep 8, 2020 3:16pm
I think it's hit the lower channel trend line about 66 times, ending diagonal triangle and turn around Tuesday.
Can I get released from the bottomless pit now, thanks market haha. 1.176666 we're all 6666s and 7777s.
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Click to Enlarge Name: Eurusd2.png Size: 26 KB
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  • #1,183,183
  • Sep 8, 2020 3:19pm Sep 8, 2020 3:19pm
Quoting suthmo
I think it's hit the lower channel trend line about 66 times, ending diagonal triangle and turn around Tuesday. Can I get released from the bottomless pit now, thanks market haha. 1.176666 we're all 6666s and 7777s. {image}
hilarious . nice image
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  • #1,183,184
  • Sep 8, 2020 3:20pm Sep 8, 2020 3:20pm
Quoting here2there
{quote} I will send him a message. Thanks.
Go directly to thread, post it there. He don't pay attention to private messages. Just be polite and be a learner, don't be cocky like you know better, otherwise, take a deep breath coz you will be fck straight in the ass.. and you will exhale 3x, so make that last inhale deep enough. Lol (just kidding)
Only an idiot knows with certainty to where the market is going.
  • #1,183,185
  • Sep 8, 2020 3:24pm Sep 8, 2020 3:24pm
bulls havent went anywhere. dont get it confused lol they are just sitting around watching the kids play lol....bears have still to break what I consider a level of importance and that 1770....i mean getting some high TFs to close below that level. So i wouldn't pull out the pompoms for the bears yet...it will take legarda to tip the scale one way or another...but the consensus is that she may put some water on this bull to calm it down a little
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  • #1,183,186
  • Sep 8, 2020 3:28pm Sep 8, 2020 3:28pm
You guys know way more about forex than me, so I won’t say anything about that. Options, however, are my expertise. You can’t really “trade” options per se, spreads too wide, commissions too high. You can use them very effectively to obtain leverage and control risk. If you want to learn, thinkorswim is a good broker for that. For example, anyone who thinks eur/usd is going to move more than a couple hundred pips in the next month can use options on 6E to take advantage of that. Currently the at the money straddle 31 days out is pricing in a range of about 211 pips. Whereas if you think it could go below 1.15 or above 1.21 in the next month you could make a lot from options because those are priced a very low probability. Vertical spreads are an easy way to limit vega exposure and control risk, because you can get burned if you don't understand how implied vol changes especially in high flying stocks. Whatever you do, don’t sell naked options, many brokers will let you go hog wild doing so, but you can end up with a debit account in no time if something strange happens.
  • #1,183,187
  • Sep 8, 2020 3:37pm Sep 8, 2020 3:37pm
Attached Image (click to enlarge)
Click to Enlarge Name: COTpic.png Size: 33 KB


But pay attention, majority of non-commercials are still in long. That is why I am still on the side for EURUSD. It could go either way. Do not jump in quickly.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: EURUSD.xWeekly.png Size: 87 KB
Click to Enlarge Name: EURUSD.xDaily.png Size: 75 KB
  • #1,183,188
  • Sep 8, 2020 3:41pm Sep 8, 2020 3:41pm
Quoting 6EforMe
You guys know way more about forex than me, so I won’t say anything about that. Options, however, are my expertise. You can’t really “trade” options per se, spreads too wide, commissions too high. You can use them very effectively to obtain leverage and control risk. If you want to learn, thinkorswim is a good broker for that. For example, anyone who thinks eur/usd is going to move more than a couple hundred pips in the next month can use options on 6E to take advantage of that. Currently the at the money straddle 31 days out is pricing in a range...
just the person I wanted to see JK.

thanks for sharing. I know nothing about them. However I look at options and futures some time to see if it gives any idea of price direction trading forex. Do you have any insight on using options and futures for trading FX.

Im guessing this is what the COT is showing futures contract pricing?

EDIT: example "Im guessing" the next expiry on euro futures are trading higher than the euro is currently priced.? and it expires on the 20th?
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  • #1,183,189
  • Sep 8, 2020 3:42pm Sep 8, 2020 3:42pm
Quoting Techanalyst
{image} But pay attention, majority of non-commercials are still in long. That is why I am still on the side for EURUSD. It could go either way. Do not jump in quickly. {image} {image}
Hey are those COT reports based on FX futures?
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  • #1,183,190
  • Sep 8, 2020 3:55pm Sep 8, 2020 3:55pm
Quoting MrBullBear
{quote} Go directly to thread, post it there. He don't pay attention to private messages. Just be polite and be a learner, don't be cocky like you know better, otherwise, take a deep breath coz you will be fck straight in the ass.. and you will exhale 3x, so make that last inhale deep enough. Lol (just kidding)
Actually, he responded and told me to go to the Aussie thread in metal mine to check out the last several pages. He seems to be a friendly guy.
Learn from your mistakes and march on.
  • #1,183,191
  • Sep 8, 2020 3:58pm Sep 8, 2020 3:58pm
Quoting suthmo
I think it's hit the lower channel trend line about 66 times, ending diagonal triangle and turn around Tuesday. Can I get released from the bottomless pit now, thanks market haha. 1.176666 we're all 6666s and 7777s. {image}
Yep, I think you are right. When concerns started to come out about the Euro gaining so much ground so quickly, that's when EURUSD started to go down. Total manipulation. That's why it's important to pay attention to fundamentals.
Learn from your mistakes and march on.
  • #1,183,192
  • Sep 8, 2020 4:00pm Sep 8, 2020 4:00pm
Quoting mistaouting
{quote} Hey are those COT reports based on FX futures?
Yes they are.
  • #1,183,193
  • Sep 8, 2020 4:04pm Sep 8, 2020 4:04pm
Quoting Techanalyst
{quote} Yes they are.
thanks
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  • #1,183,194
  • Sep 8, 2020 4:09pm Sep 8, 2020 4:09pm
Quoting here2there
{quote} Actually, he responded and told me to go to the Aussie thread in metal mine to check out the last several pages. He seems to be a friendly guy.
Told ya! Yes he has a good heart. And real pro traders teach for free.. they dont give a shit on your money, they take their money from the market.

Watch how they trade gold... you will drool.
Only an idiot knows with certainty to where the market is going.
  • #1,183,195
  • Sep 8, 2020 4:12pm Sep 8, 2020 4:12pm
Quoting mistaouting
{quote} just the person I wanted to see JK. thanks for sharing. I know nothing about them. However I look at options and futures some time to see if it gives any idea of price direction trading forex. Do you have any insight on using options and futures for trading FX. Im guessing this is what the COT is showing futures contract pricing? EDIT: example "Im guessing" the next expiry on euro futures are trading higher than the euro is currently priced.? and it expires on the 20th?
I don't believe you can glean any directional insight from options. You can see where the skew is though, in some things they will price out of the money put or call higher. You can see by just looking at the prices, if the puts 100 pips out of the money are worth more or less than the call 100 pips out of the money. They should be worth the same theoretically, so you can see if the market is pricing in a bigger up or down move. The current 6EU20 goes off the board in a few days then we all switch to December's 6EZ20 which is about 24 pips above eur/usd. Options are great, and you can create a position for whatever you think the market might do, but they are mostly for swing or position trading, definitely not an intraday trade imo.
  • #1,183,196
  • Sep 8, 2020 4:17pm Sep 8, 2020 4:17pm
Quoting MrBullBear
{quote} Told ya! Yes he has a good heart. And real pro traders teach for free.. they dont give a shit on your money, they take their money from the market. Watch how they trade gold... you will drool.
The guy is a Beast with the lot sizes he trades!
Learn from your mistakes and march on.
  • #1,183,197
  • Sep 8, 2020 4:23pm Sep 8, 2020 4:23pm
USDJPY 1 min chart. Stop losses cleaned out.
Attached Image (click to enlarge)
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  • #1,183,198
  • Sep 8, 2020 4:24pm Sep 8, 2020 4:24pm
Quoting MrBullBear
{quote} Yes. he regularly post in Aussie's thread now. But we started in other thread which is now abandoned due to trolls.
His Stochastic settings are excellent! I can see how useful this could be with the Supply and Demand indicator I am using. Even on higher time frames.

Attached Image (click to enlarge)
Click to Enlarge Name: Image 9.png Size: 27 KB
Learn from your mistakes and march on.
  • #1,183,199
  • Sep 8, 2020 4:25pm Sep 8, 2020 4:25pm
Quoting 6EforMe
{quote} I don't believe you can glean any directional insight from options. You can see where the skew is though, in some things they will price out of the money put or call higher. You can see by just looking at the prices, if the puts 100 pips out of the money are worth more or less than the call 100 pips out of the money. They should be worth the same theoretically, so you can see if the market is pricing in a bigger up or down move. The current 6EU20 goes off the board in a few days then we all switch to December's 6EZ20 which is about 24 pips...
thanks for taking to time to explain.

what do you mean by skew?

current futures bid and ask are trading higher than current price on euro....could you see logic in assuming market paying a slight premium on Euro futures if they didn’t think they were buying it cheap come sept 20th or selling cheap also

cant you look at puts and calls to gauge sentiment
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  • #1,183,200
  • Sep 8, 2020 4:29pm Sep 8, 2020 4:29pm
Quoting here2there
{quote} The guy is a Beast with the lot sizes he trades!
That is why they trade gold, you can use insane lots. And he need it because he gets in and out in a blink. Few seconds is enough with a big lots.
Only an idiot knows with certainty to where the market is going.
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