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The Really Useless Thread

  • #21
  • Aug 21, 2011 4:40am Aug 21, 2011 4:40am
Quoting Monroe
kenfen! cool thread bro. Interesting story on your move into speculating in FX. I'd like to contribute later, but for now, I will share a very important part of my daily routine...

http://www.youtube.com/watch?v=2fXKNwo5ik8
Go on, you beauty!

If it wasn't 5:30am here...I would CRANK that!!!

Good stuff, brother...important tool you posted there!
  • #22
  • Aug 21, 2011 4:41am Aug 21, 2011 4:41am
Quoting kenfen69
Go on, you beauty!

If it wasn't 5:30am here...I would CRANK that!!!

Good stuff, brother...important tool you posted there!
haha it's 5:30am here too, fek it! It's gonna be a fine day....
  • #23
  • Aug 21, 2011 4:45am Aug 21, 2011 4:45am
Quoting Monroe
haha it's 5:30am here too, fek it! It's gonna be a fine day....
Suns coming out, brother!

Snatch that summer before she slips away! Just getting nice now; little cooler...just right.

Rock it!
  • #24
  • Aug 21, 2011 8:41am Aug 21, 2011 8:41am
Quoting kenfen69
My brother...I probably jumped the gun a little bit by not having my meat and potatoes ready to roll at the same time of thread creation. Had to put a little more thought into a couple of things than I had originally thought about. Just wanted to press "go" on the weekend, though.

This thread will settle exactly where we want it to. I predict a soft landing...and water for everyone!


Nice!

Check this shite out, too...

Attachment

I tried to get the timeframe and scale similar to yours. Those lines are drawn...
Post 'er up, mang! Would love to take a look at the guts!!

The way I view the market is just constant movement from demand > supply and supply > demand.

It never has to obey levels as a general rule, but, there is always a good chance of at the very least a bounce. And of course, the more hits to a zone, the more like it will move on above or below it. I only play the first hit after a newly created zone.

I actually use fractals as an automagic indicator to calculate supply and demand levels... and it gets around 90% of them. It's usually the minor zones that it misses as well (one that will more than likely create a bounce then price will continue on).
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  • #25
  • Edited 9:01am Aug 21, 2011 8:50am | Edited 9:01am
Good to have them levels there... The question now is this: Which one is going to be hit next? Will it be 4450 or down to 4321? So I need more stuff on that chart. Now I can get a little bit of a bias... I don't like stuff that can go either way. I want it to be as exact as possible.

These are 3 linear regression channels... The shorter they are, the weaker. The rules about these channels are these: 1. Should be used for EXITS, not entries. 2. Can not assume a reverse or a break at the channel edges. 3. Can assume a retrace. 4. The price may or may not make it to the other side.

How's this for nothing much useful?

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Quoting kenfen69
My brother...I probably jumped the gun a little bit by not having my meat and potatoes ready to roll at the same time of thread creation. Had to put a little more thought into a couple of things than I had originally thought about. Just wanted to press "go" on the weekend, though.

This thread will settle exactly where we want it to. I predict a soft landing...and water for everyone!


Nice!

Check this shite out, too...

Attachment

I tried to get the timeframe and scale similar to yours. Those lines...
  • #26
  • Aug 21, 2011 10:18am Aug 21, 2011 10:18am
Moving on. So it's not good enough. I need something that would give me some sense of the range. The ugly sister I mentioned yesterday will show up now. LOL. I know, I know. Call me crazy. I will understand. Magenta is a Price Channel, white is a BB 50 and yellow is a BB 20. In general the price moves from one side of these fellows to to other with a go/no go around the middle.

Many times, when the price makes a long wick on pushing the PC usually means that's just a bounce. It will come back and continue with the original direction. There is a lot to say about these overlays. I'll leave it at that for now.

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  • #27
  • Aug 21, 2011 10:37am Aug 21, 2011 10:37am
So at this point I still don't know where is the likely top/bottom of this move. I know where the hurdles are but I am not sure which one will hold and and which one will be just a bump in the road towards the final destination. Is this move from 4450 a retrace (if so to where?) or is it a full reverse? This is a tricky question, and I'll try to answer it with more stuff. Yeap, you've seen nothing yet... I took the same chart, removed the horizontal lines, the original s/r (I'll keep those on a separate chart), and added some indis at the bottom. First panel a bunch of MAs on top of a macd, second white is DSS, yellow CCI and lime is RSI 2. Don't worry about the third, just some things I'm watching for now.

So, a top is being signaled when the CCI and the RSI hit the top of the panel TOGETHER. It doesn't mean it will turn right there, it's just a warning that we could be approaching a top on THIS time frame. DSS being flat at a top is another good indication a move the other way might start soon. The DSS will give you the smaller trend on THIS TF, while the CCI/RSI combo will give each individual up and down moves within this mini trend. The MAs+macd are self explanatory.

The way I'm using these indicators are like this: Is there more room? Did the CCI/RSI hit the panel together and which way does the DSS moves right now. A flat DSS at the top of the panel means continuation.


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  • #28
  • Aug 21, 2011 10:38am Aug 21, 2011 10:38am
I like long term view ,but not too long 4 hours is good for me ,so thats what I am looking at
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  • #29
  • Aug 21, 2011 10:53am Aug 21, 2011 10:53am
So, it's still not clear. Duh... LOL. If you look at the TF separately you will not be able to make heads or tails of all these. But if you look at them together, it's a different story.

Here's H4. A completely different picture of the whole enchilada. Those indicators hit the bottom and they have a lot of room up.... The price wonders around the middle of the PC because H1 (the chart before) shows a move down. Now we know, that move down is actually a retrace on H1. When that's done, H4 will push it up towards 4520 again. It needs to go touch the PC, and the BBs.

So, I'll wait for H1 to finish it's retrace towards 4350-4330, see what the price does there and if the indis will be bottomed, long towards 4520 again on H4.

PS: All subject to change of course, but this is what I see ATM.

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  • #30
  • Aug 21, 2011 11:00am Aug 21, 2011 11:00am
Quoting attila
So, it's still not clear. Duh... LOL. If you look at the TF separately you will not be able to make heads or tails of all these. But if you look at them together, it's a different story.

Here's H4. A completely different picture of the whole enchilada. Those indicators hit the bottom and they have a lot of room up.... The price wonders around the middle of the PC because H1 (the chart before) shows a move down. Now we know, that move down is actually a retrace on H1. When that's done, H4 will push it up towards 4520 again. It needs to go touch...
Thats why I am not making any predictions ,I always wait till market opens and not only when it opens ,but when London opens ,market will be always here ) So far PA is not clear ,lets wait
  • #31
  • Aug 21, 2011 11:02am Aug 21, 2011 11:02am
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...
  • #32
  • Aug 21, 2011 11:23am Aug 21, 2011 11:23am
u said it....no such thing as a magic buy sell button....spot on

Quoting attila
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...
  • #33
  • Aug 21, 2011 12:06pm Aug 21, 2011 12:06pm
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

Quoting Magix
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...
  • #34
  • Aug 21, 2011 12:16pm Aug 21, 2011 12:16pm
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.
  • #35
  • Aug 21, 2011 12:56pm Aug 21, 2011 12:56pm
Quoting Magix
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.
  • #36
  • Aug 21, 2011 1:00pm Aug 21, 2011 1:00pm
My congrats to you brother ken for opening your thread.
  • #37
  • Aug 21, 2011 1:45pm Aug 21, 2011 1:45pm
well I hope you have room for one more bastard in here brother...
Look Sharp/Trade Tight
  • #38
  • Aug 21, 2011 2:42pm Aug 21, 2011 2:42pm
Quoting PayTheLimit
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!
  • #39
  • Aug 21, 2011 2:45pm Aug 21, 2011 2:45pm
Quoting pkimnyc
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!
  • #40
  • Aug 21, 2011 2:51pm Aug 21, 2011 2:51pm
Quoting kenfen69
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...
Look Sharp/Trade Tight
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