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The Really Useless Thread

  • #841
  • Aug 22, 2011 11:20pm Aug 22, 2011 11:20pm
Quoting PayTheLimit
indeed, see how we kissed the lower lip of the projected, while we where testing the actual mofu...
Do! Cool stuff!

Can be a good roadmap. I normally do that kind of thing in my head, but can see obvious benefits of laying it out to visualize it more. Nice, brother!
  • #842
  • Aug 22, 2011 11:22pm Aug 22, 2011 11:22pm
Quoting pkimnyc
Been little busy with trading brother.
Of course it's universal.
Understand, my man. Nice to have you about, though!

To universal bastards!
  • #843
  • Aug 22, 2011 11:22pm Aug 22, 2011 11:22pm
Quoting kenfen69
Do! Cool stuff!

Can be a good roadmap. I normally do that kind of thing in my head, but can see obvious benefits of laying it out to visualize it more. Nice, brother!

lol, in your head, what is you a math wiz or something..
Look Sharp/Trade Tight
  • #844
  • Aug 22, 2011 11:23pm Aug 22, 2011 11:23pm
Quoting kenfen69

To universal bastards!
i'll drink to that..hell I'll drink to anything..
Look Sharp/Trade Tight
  • #845
  • Aug 22, 2011 11:24pm Aug 22, 2011 11:24pm
Quoting sofia101
And feed him too ,he looks hungry ) How are you tonight ?
Fantastic, sofia!

Glad to have power...internet...and a few sneaky green ones in the bank.

How are you doing? Is the coffee on, or will you have a nap before London?
  • #846
  • Edited 11:49pm Aug 22, 2011 11:24pm | Edited 11:49pm
The range on 1h is so small not much we can do ,I want top or bottom to break@85 or @52
  • #847
  • Aug 22, 2011 11:25pm Aug 22, 2011 11:25pm
Quoting pkimnyc


NOW I know why you're here!

Havana Club, baby!
  • #848
  • Aug 22, 2011 11:26pm Aug 22, 2011 11:26pm
Quoting kenfen69
Fantastic, sofia!

Glad to have power...internet...and a few sneaky green ones in the bank.

How are you doing? Is the coffee on, or will you have a nap before London?
I will try to stay till London ,have a very nice coffee )
  • #849
  • Aug 22, 2011 11:26pm Aug 22, 2011 11:26pm
Quoting PayTheLimit
i'll drink to that..hell I'll drink to anything..
Tramp!
  • #850
  • Aug 22, 2011 11:28pm Aug 22, 2011 11:28pm
Quoting PayTheLimit
i'll drink to that..hell I'll drink to anything..
Cheers ,salute
  • #851
  • Aug 22, 2011 11:30pm Aug 22, 2011 11:30pm
Quoting PayTheLimit
lol, in your head, what is you a math wiz or something..
Little bit...particularly horizontal lines! :nerd:

I just pick out my zones from my plethora of lines and and ADR...then shade that area mentally. Quite similar-ish to yours...only in my head.
  • #852
  • Aug 22, 2011 11:31pm Aug 22, 2011 11:31pm
Quoting sofia101
The range on 1h is so small not much we can do ,I wont top or bottom to break@85 or @52
Sensible play at this point.
  • #853
  • Aug 22, 2011 11:31pm Aug 22, 2011 11:31pm
Quoting sofia101
I will try to stay till London ,have a very nice coffee )
Great!
  • #854
  • Aug 22, 2011 11:32pm Aug 22, 2011 11:32pm
Hi Ken! Thanks for allowing me the opportunity to post here and thanks much for a damn fine thread. It’s good to see so many seasoned traders posting their thoughts, ideas, etc. It’s also good to see the same traders acting up as real traders are want to do. My apologies for not getting back to you sooner. These last few days have been pretty busy for me. Finally sold my boat. Many, many misgivings about that, but in the end she had to go. It’s time to move on and she provided me with much joy for a while. Hopefully she’ll do the same for the new owner (really nice bloke who I know will take good care of her). Actually shed a few tears as I bid my Rusalka farewell. Ah well, life goes on.

This may turn out to be a lengthy post. My apologies if I bore anyone to death. If I do, just let me know and I’ll move on – I’m easy.

Just by way of a quick bio – I’ve been trading for a living since 1994. I’ve traded my way through some pretty hellacious times and have loved every moment of it. I’ve been lucky in that, unlike some, I have never really experienced any substantial losses. Sure there have been some major ass puckering drawdowns, but somehow, I’ve always managed to scrape my way out of them. I learned very early on that keeping one’s trading account intact was the number one priority. Heroics were for books and movies – not for trading one’s own account.

I’ve also been lucky in that I started my trading career when technical analysis and computerized trading were still in their infancy. Back then, there were not the myriad of indicators, systems, methodologies, etc., etc., etc. that we have today. My little brain was not overloaded with a lot of the crap that a new trader has to deal with today. Things were rather simple. Market movement was fairly simply defined, and if one had discipline, becoming a successful trader was not all that difficult. Back then, one just did not have the massive options for failure that exist today.

My primary vehicle for trading is the DOW futures (YM). I’ve been trading that instrument since it was born and by now, know it intimately. I know how it moves. I know why it moves and I know why it doesn’t move. I know it like a husband knows a wife he’s been married to for many, many years. I know all its little intricacies, its tricks and its devious ways to put one in one’s place. When one trades the same instrument day in, day out for many years it’s not hard to know these things. All it takes is time.

I came to currency trading rather late in my career – around 2004 or so, I believe. A good friend (trader at Goldman Sacks) turned me onto it. She was and still is a damn good trader and taught me a lot. Provided me with the background stuff I needed to know to trade the currency market successfully. The methodology remained the same, just the terminology changed. And I was exposed to a much greater macro environment than I had been used to. But with her help and a lot of study, I began to really like my foray into currency trading. So now, I trade two instruments – the YM and the EURUSD. It’s good to be an insomniac. Ha Ha.

By the way, just for future reference when I start posting charts -- I trade the currency FUTURES not spot – specifically the 6E on the GLOBEX exchange. For this reason the charts I post will have slightly different numbers. As well, I don’t use MT4 or any of its variants. If this is/becomes a problem, I will refrain from posting charts.

My methodology is fairly simple. I trade levels, much like most folks here do. I don’t use indicators. I am a scalper. An inveterate scalper. Always have been, probably always will be. It’s hard work, but I love it. I trade the 5 minute time frame. I use a 1 minute as a trigger, and watch a 60 minute for an overall direction. My levels are generated by an algorithm I’ve developed and have been tweaking for many years.

I’ve tried, and tried, and tried to become a longer term trader without much success. I’ve been trying more lately but still don’t feel very comfortable with longer time frames (say 15 minute). Just can’t seem to wrap my head around it. And at the end of the day I’ll say, “well fuck it, I’m good at what I do, why change?” So there you have it. My 17 years of scalping activity has provided me with a good life. I wouldn’t change it for anything.

Chart to follow.

Good trading to all of you…
  • #855
  • Aug 22, 2011 11:38pm Aug 22, 2011 11:38pm
Jurassic park on AMC....awesome
  • #856
  • Aug 22, 2011 11:40pm Aug 22, 2011 11:40pm
Quoting Turhovach
[size=3][font=Calibri]Hi Ken! Thanks for allowing me the opportunity to post here and thanks much for a damn fine thread. It’s good to see so many seasoned traders posting their thoughts, ideas, etc. It’s also good to see the same traders acting up as real traders are want to do. My apologies for not getting back to you sooner. These last few days have been pretty busy for me. Finally sold my boat. Many, many misgivings about that, but in the end she had to go. It’s time to move on and she provided me with much joy for a while. Hopefully she’ll...
Welcome ,very nice story ) I am sure your input here will be greatly appreciated
  • #857
  • Aug 22, 2011 11:44pm Aug 22, 2011 11:44pm
Quoting Turhovach
[size=3][font=Calibri]Hi Ken! Thanks for allowing me the opportunity to post here and thanks much for a damn fine thread. It’s good to see so many seasoned traders posting their thoughts, ideas, etc. It’s also good to see the same traders acting up as real traders are want to do. My apologies for not getting back to you sooner. These last few days have been pretty busy for me. Finally sold my boat. Many, many misgivings about that, but in the end she had to go. It’s time to move on and she provided me with much joy for a while. Hopefully she’ll...
Fuck..... dude.... this is not the really useless post.....
  • #858
  • Aug 22, 2011 11:45pm Aug 22, 2011 11:45pm
Quoting Turhovach
Hi Ken! Thanks for allowing me the opportunity to post here and thanks much for a damn fine thread. It’s good to see so many seasoned traders posting their thoughts, ideas, etc. It’s also good to see the same traders acting up as real traders are want to do. My apologies for not getting back to you sooner. These last few days have been pretty busy for me. Finally sold my boat. Many, many misgivings about that, but in the end she had to go. It’s time to move on and she provided me with much joy for a while. Hopefully she’ll...
Oh man...I'm so glad the message got through, T! Absolutely delighted!

First of all...anybody who doesn't know this man, or hasn't vouched for him...you probably want to get that over with now. As good as they come!

Rough stuff on Rusalka, brother. Think I welled up just reading it. But...as you said...life does go on. At least she's in good hands!

Thanks for the great intro. I didn't know a lot of those details, so that's valuable info going forward, mate. Don't worry at all about the fact that you're on futures, and that most here are on spot...even better, actually...will help tie a lot of things together. Same goes for MT4...or the lack there of. There are plenty here who use others, myself included...the more the merrier!

I won't write a book here in responding to you, but once again...I'm delighted the message found its way to you.

Welcome...lets rob pips from the bastards together!
  • #859
  • Aug 22, 2011 11:48pm Aug 22, 2011 11:48pm
Quoting Turhovach

Chart to follow.

Good trading to all of you…
crafty veteran, good to see ya brother...
Look Sharp/Trade Tight
  • #860
  • Aug 23, 2011 12:03am Aug 23, 2011 12:03am
this is a tight range and we are dead center lol...
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