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The Really Useless Thread

  • #4,121
  • Aug 26, 2011 3:07pm Aug 26, 2011 3:07pm
Quoting Wulfgar
thats why im holding it through the weekend.... targeting 4900 ultimately.... yes i think the USD sucks that bad....
Yep. At least we will know right away if this is a breakout candle or a fakeout candle.

Fakeout, we wont see any higher then the close on Sunday.

This last few weeks are making me sick to my stomache on how hard of a job I am having with this market though. I'm not sure what exactly I need to improve upon, but need something for sure.
  • #4,122
  • Aug 26, 2011 3:11pm Aug 26, 2011 3:11pm
what you got as a close?
Quoting Venice
Yep. At least we will know right away if this is a breakout candle or a fakeout candle.

Fakeout, we wont see any higher then the close on Sunday.

This last few weeks are making me sick to my stomache on how hard of a job I am having with this market though. I'm not sure what exactly I need to improve upon, but need something for sure.
  • #4,123
  • Aug 26, 2011 3:11pm Aug 26, 2011 3:11pm
Quoting Venice
Yep, enjoy it immensely. I've been trying to put together something with fractals... but man, works wonderful in rangey and consolidation areas... gets blown away when not... lol
That's the bitch! And why they work so much better kicking them in and out manually. Been trying for ages to find a filter so it can run around the clock, but...I fancy many greater minds than mine have been, too, and I don't know how they're getting on with it either.

Fun to mess with, though.
  • #4,124
  • Aug 26, 2011 3:12pm Aug 26, 2011 3:12pm
Quoting Venice
Yep. At least we will know right away if this is a breakout candle or a fakeout candle.

Fakeout, we wont see any higher then the close on Sunday.

This last few weeks are making me sick to my stomache on how hard of a job I am having with this market though. I'm not sure what exactly I need to improve upon, but need something for sure.

freakin summertime man.... these rangebound markets are great for intraday guys... but for longer term traders they def put you to the test.... after labor day when we should start resuming a trending markets and start testing more extreme ranges...
  • #4,125
  • Aug 26, 2011 3:12pm Aug 26, 2011 3:12pm
Quoting Wulfgar
all in all a kick ass friday... I havent even added up all the positions total profits from these pairs but i think its a shitload...
Nice work, brother!

Don't be afraid to spend some of it...at least a sweater or two!
  • #4,126
  • Aug 26, 2011 3:15pm Aug 26, 2011 3:15pm
Quoting OldQuant
Are you implying the thread put you off, or at least made you doubt, your plan?
Studying markets and movements is what I do...and do pretty well at...

Will I blame the word of others for not doing what I should be doing? Absolutely not.

I wasn't around much this week, and never really hammered the charts. A large part of my issue is that I wasn't on my game. Kinda took things half assed and didn't really key into the pulse of the market. From there, everything fell back to assumptions and guessing...not following other traders...

I quite often find myself at odds with other members as to which side of the trade to be on, and for my own reasons. This week, for whatever reason, I figured the fundies would hammer the techs...This, for the time frames I study, NEVER HAPPENS. Yeah, that whippy drop this morning, I never saw a nickle of that move, I was just heading out the door to the doc. I didn't get back until we were past the breakzone, or false bz as it were, and at I have no reason nor intent to trade any Friday after London close.

I caught some of the down move last night, bought out a couple of dogs, and cashed in my chips.

Ultimately speaking...the thread never influenced me, I let myself be influenced.
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #4,127
  • Aug 26, 2011 3:15pm Aug 26, 2011 3:15pm
Quoting kenfen69
Nice work, brother!

Don't be afraid to spend some of it...at least a sweater or two!

at least! although it is geting up into the mid 80's right now!! never too early to plan for some holiday sweater extravaganza!
  • #4,128
  • Aug 26, 2011 3:16pm Aug 26, 2011 3:16pm
Quoting hkkhanus
what you got as a close?
Nothing yet, close happens on Sunday.
  • #4,129
  • Aug 26, 2011 3:19pm Aug 26, 2011 3:19pm
ahh coffee is just kicking in now, i was thinking last Sunday and then i was like WTF
i'm with ya now
Quoting Venice
Nothing yet, close happens on Sunday.
  • #4,130
  • Aug 26, 2011 3:19pm Aug 26, 2011 3:19pm
Quoting Venice
sick to my stomache on how hard of a job I am having with this market though. I'm not sure what exactly I need to improve upon, but need something for sure.
It's been a son of a bitch. It's basically because we're in a big decouple. Ultimately, from reality. You can't trade an irrational market with rational methods. Period. Not talking about fundies; we don't even have to go there.

And then there's the triangles to deal with. A bureaucrat in another hemisphere orders an intervention in one or the other, changing the relative prices in the ratio of yen pairs, and the computers' reaction to keep the arbs in place blows the S&R levels, triggers the stops, and then that reaction feeds back on itself.
  • #4,131
  • Aug 26, 2011 3:19pm Aug 26, 2011 3:19pm
Quoting OldQuant
I'm sure he doesn't give a sh@t about the money. What's tough about a day like this, win or lose, at least for me, is (a) the feeling that you didn't play it right, and (b) you should have known better.
Quoting kenfen69
I feel your pain, Chicky! We're supposed to know better!
Quoting OldQuant
But the other thing about a day like this is, if they're being honest with themselves, everybody, from the pits to penthouses, can point to the place where they didn't play it right.
Agreed...100%! That's why I fancy Coogan's, or such, could be an interesting place to go for a few bevvies! Never been, so wouldn't mind seeing...er, hearing...whats in earshot.
  • #4,132
  • Aug 26, 2011 3:21pm Aug 26, 2011 3:21pm
Quoting kenfen69
Sorry...had to go down to the bar for this round. The same young fella has brought me room service twice...2 x 2 drinks. The second time he was kind of looking over my shoulder...as if to say...you alone in there...drinking on your own? You want your tip, kid...don't judge!

I feel your pain, Chicky! We're supposed to know better! It can just play out so bloody fast sometimes, though. Hard to explain what happens. I know you've been eying 1.37ish. I've had my eyes fixed a little lower, too. Thought today was finally going to see some sort...
Few years ago, I stayed at some hotel in Atlanta. Doing stocks ordered lunch in my room. Jokingly asked the room service guy how market would do? His reply was "First you tell me how the interest rates and yield on US treasury is doing, then I tell you what this market would do". I was speechless.

I am now looking at 1.4700 and beyond. If 1.4500 is broken, the pa would go for its unfinished business of touching 1.5000.

I tend not to lose too much, but recovering 1% means once again taking a risk of 1% or little less.
The Thief of Wall Street
  • #4,133
  • Edited 3:32pm Aug 26, 2011 3:22pm | Edited 3:32pm
For those that can absolutely swear this thing can't go any higher, here's a weekly chart to think about (the kitchen sink one). Not saying it will but it does have an UP feel to it doesn't it? Those things at the bottom being curved up are very unsettling to me. It's also one of the reasons I never gave up on my longs this week...

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  • #4,134
  • Aug 26, 2011 3:23pm Aug 26, 2011 3:23pm
Quoting hkkhanus
ahh coffee is just kicking in now, i was thinking last Sunday and then i was like WTF
i'm with ya now
lol, I could see how that could be confusing.

All in all though, we have cleared some serious levels. And yet, there is still a plethora of supply that we are currently in, and above us. Even if the move we take is upwards, I can't see it being all that smooth. Not that it really matters, nothing has been smooth the last month.

Then, if we do get above... when we get back to this area. omg.

This crap stays with the charts for much time to come...
  • #4,135
  • Aug 26, 2011 3:24pm Aug 26, 2011 3:24pm
OQ...

Going off of a chart that I had posted previously on the expected retrace zone, I had ignored my longer TF charts on the trade.

Hourly was confirm long, I was short on the break zone...

This is an example of what I done wrong this week...-25 on the deal, x2...

I don't mind taking a bad trade, but this is like what you said, I shouldn't have been in the trade to begin with...it was a guess at best, and was a miss by simply ignoring what was happening.
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Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #4,136
  • Aug 26, 2011 3:31pm Aug 26, 2011 3:31pm
Well, I'm leaving the bridge. I need a great big, juicy, 6 buck cheeseburger, a couple of Guinness, followed by some fruit, glass of port, and a cigar for dessert. And I know just the outdoor place that'll provide it.

Take it easy. See ya'll at the gap on Sunday. We can shop for sweaters while we're there.
  • #4,137
  • Aug 26, 2011 3:33pm Aug 26, 2011 3:33pm
Quoting Chicky
Few years ago, I stayed at some hotel in Atlanta. Doing stocks ordered lunch in my room. Jokingly asked the room service guy how market would do? His reply was "First you tell me how the interest rates and yield on US treasury is doing, then I tell you what this market would do". I was speechless.
Hehehehe...nice! Have had moments like that, myself. Non-market related, but just as WTF-ish.

Quoting Chicky
I am now looking at 1.4700 and beyond. If 1.4500 is broken, the pa would go for its unfinished business of touching 1.5000.

I tend not to lose too much, but recovering 1% means once again taking a risk of 1% or little less.
Yep...I've flattened...and will await the September season with a fresh slate...and no bias. Will trade away next week in very non-committal fashion. If I land some, I land some. Will see where everything stands the week after that before shaping my overall bias for the mid-term.

Thanks for talking about your shitty day...I'm sure a lot of people can relate, and will benefit from hearing about it.

All the best to you...enjoy your weekend!
  • #4,138
  • Aug 26, 2011 3:35pm Aug 26, 2011 3:35pm
Quoting OldQuant
Well, I'm leaving the bridge. I need a great big, juicy, 6 buck cheeseburger, a couple of Guinness, followed by some fruit, glass of port, and a cigar for dessert. And I know just the outdoor place that'll provide it.

Take it easy. See ya'll at the gap on Sunday. We can shop for sweaters while we're there.
Hehehe...out with a bang, captain!

Sounds like heaven! Checking out of here myself...will go spotting "long-face : smilie-face" ratio at Coogan's. Enjoy.
  • #4,139
  • Aug 26, 2011 3:42pm Aug 26, 2011 3:42pm
Quoting OldQuant
Take it easy. See ya'll at the gap on Sunday. We can shop for sweaters while we're there.
Careful out there...I just saw this. He doesn't mention sweaters, but?

Attached Image
  • #4,140
  • Aug 26, 2011 3:45pm Aug 26, 2011 3:45pm
Quoting Chicky
Few years ago, I stayed at some hotel in Atlanta. Doing stocks ordered lunch in my room. Jokingly asked the room service guy how market would do? His reply was "First you tell me how the interest rates and yield on US treasury is doing, then I tell you what this market would do". I was speechless.

I am now looking at 1.4700 and beyond. If 1.4500 is broken, the pa would go for its unfinished business of touching 1.5000.

I tend not to lose too much, but recovering 1% means once again taking a risk of 1% or little less.
how old was the guy ?

well I am back.. havent traded at all today.. still I a clusterfuck I see

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