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The Really Useless Thread

  • #6,121
  • Aug 31, 2011 10:59am Aug 31, 2011 10:59am
I still may get my 4380 )
  • #6,122
  • Aug 31, 2011 11:00am Aug 31, 2011 11:00am
Quoting sofia101
I still may get my 4380 )

And I'll get my 4342
  • #6,123
  • Aug 31, 2011 11:00am Aug 31, 2011 11:00am
Quoting needpips
Elliott wave wise I believe 5 waves down is complete.....
what? we started wave c at around 4464ish. this is a corrective move. don't start counting those microwaves... move to H1. at least, that is.
  • #6,124
  • Aug 31, 2011 11:01am Aug 31, 2011 11:01am
Quoting cloggie
And I'll get my 4342
I said that last night ) now maybe even lower
  • #6,125
  • Aug 31, 2011 11:03am Aug 31, 2011 11:03am
Quoting Mr Hatch
what? we started wave c at around 4464ish. this is a corrective move. don't start counting those microwaves... move to H1. at least, that is.
You and waves I used had a friend that was into it I called him sailor ,LOL
  • #6,126
  • Aug 31, 2011 11:05am Aug 31, 2011 11:05am
Quoting sofia101
You and waves I used had a friend that was into it I called him sailor ,LOL


http://www.bullspress.de/PageFiles/3103/Popeye3.jpg
  • #6,127
  • Aug 31, 2011 11:06am Aug 31, 2011 11:06am
Long @ 76.48 tight stop

USD/JPY M15:
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Don't be a hero. Don't have an ego. Always question yourself
  • #6,128
  • Aug 31, 2011 11:08am Aug 31, 2011 11:08am
es 1218 and 4402 will give the ghost.
  • #6,129
  • Aug 31, 2011 11:16am Aug 31, 2011 11:16am
Got an email from oanda now...

They want me to move all the cash to their european subsidiary, anyone knows the reason?
  • #6,130
  • Aug 31, 2011 11:16am Aug 31, 2011 11:16am
Quoting attila
I was referring to THEM. The ones who move the market. But to your point, I disagree. I've always been trading this way. All I'm interested in are the targets. That's where the profit lives. If a target becomes doable on a TF, even the lower ones, I take the trade while holding the longer term one as long as THAT one continues to be valid. To be honest, I am not sure how people deal with SLs in relation to these wide swings we've had lately. Taking trades on different TFs could look like indecision and it is, if what's behind the trade IS indecision.......
Sure if you can do it, good and I believe you, but you are in the very selected group of traders and is not the norm but the exception.

I was not referring at wide swings, I was referring to sticking to the moves in whatever is your primarily TF. So it can be a weekly swing or M1 swing is irrelevant the outcome, what it changes is the size of the range you are aiming.

Nothing wrong to scale in, my point is actually on scaling out. Sure you can scale in an entry for a daily swing trade (or whatever Tf) based on intraday without confirmation on daily yet, but only in a correlated TF (e.g H4).

If you start trading every single entry for that swing from M1 to H1 you will end up lost in translation. Why? because it probably takes a few hundred or more swing in M5 (and some of them will look like a major reversal, in some very weird hours, etc) to complete that move.

At the end, IMO most traders stuck in the multiple TFs paralysis with overflow of levels in Multiple Tfs end up cutting winners early and making your lossers overextend with the excuse of the larger TFs targets....and this is the best case scenario if the trader has a very solid TA skills and plenty of screen time and a few accounts blown as background...the others will increase the Forex % failure statistics.

In any case, choppy session as expected on monthly roll. Lots of fresh money movers expected for tomorrow...

sisse
Pending conversations? PM for a chat...I am mainly in OTM now
  • #6,131
  • Aug 31, 2011 11:17am Aug 31, 2011 11:17am
Quoting sofia101
how are you?
tired....Daddy day care today...but many green pips so all is good
  • #6,132
  • Aug 31, 2011 11:19am Aug 31, 2011 11:19am
Quoting Larseg
Got an email from oanda now...

They want me to move all the cash to their european subsidiary, anyone knows the reason?
Did you call them?
  • #6,133
  • Aug 31, 2011 11:20am Aug 31, 2011 11:20am
I agree with you here sisse. Targets should be confined to the TF you are taking the trade on, otherwise it's gambling like you said.
Quoting sisse
If you can't hold your emotions and have to jump to M5 because your 15M is not "moving" and after to M1 "just in case" but with target of a daily TL with rejection of Weekly Fib ....you are closer to gambling than actually trading and I can bet you that a huge majority never pass the stage of taking crumbs and losing the big moves (whatever a big move is in your TF).

In simple words, we are TRADERS not a dealing...
  • #6,134
  • Aug 31, 2011 11:20am Aug 31, 2011 11:20am
Quoting needpips
tired....Daddy day care today...but many green pips so all is good
Good for you )
  • #6,135
  • Aug 31, 2011 11:21am Aug 31, 2011 11:21am
Quoting sofia101
Did you call them?
No, they just sent an email...
  • #6,136
  • Aug 31, 2011 11:21am Aug 31, 2011 11:21am
Quoting Mr Hatch
what? we started wave c at around 4464ish. this is a corrective move. don't start counting those microwaves... move to H1. at least, that is.
by my count we are about to have a serious move north
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  • #6,137
  • Aug 31, 2011 11:22am Aug 31, 2011 11:22am
Quoting cloggie
es 1218 and 4402 will give the ghost.

Nah, sneaky long @ 10
  • #6,138
  • Aug 31, 2011 11:25am Aug 31, 2011 11:25am
Id wager 4390 gonna be the turn-ish spot....based on wave counts
  • #6,139
  • Aug 31, 2011 11:26am Aug 31, 2011 11:26am
Subsequently, as soon as the fed stopped POMO, waves act more normal again...go figure
  • #6,140
  • Aug 31, 2011 11:27am Aug 31, 2011 11:27am
Last day of the month they reshuffle the money ) Poker moves
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