The Really Useless Thread

1) For the newbies here on dax: If youre in the money on dax during the day and the general direction is in a particular way, if you see no reversal signs, STAY with your position at least 10-5 minutes before it closes, it usually moves another 20-30 points which are easily cash-able, just remember to close before 22:00 GMT +1



well over 300 points, im sufficientlly happy.

Now

2) Thanks for the compliment. As a matter of fact no i don't, and trust me im not trying to be a pompous dick as usual, i dont know, maybe its because im such a speed freak and love fast moving instruments (gasoline and Heating oil trades coming soon ) im just accustomed to it.

I RARELY see manipulation on oil and i rarely see techincals failing and if they do its usually just a 5-10 pip loss.

I see from the responses in here that people seem to agree with you regarding crude but i still say you are wrong. Crude is the one instrument where its the easiest to pull a clean 150 pips a day with only 1 lot. Easily, i practically do it everyday. Once you remove that ridiculous fundamental bias people seem to have and focus on whats actually being traded its a blast.

I will agree that crude and for that matter especially dax have a unique rythm and more importantly structure ( PA in relation to positioning ) that may need some... getting used to. But once you understand it its easy. Commodities and index futures excell displaying on charts what forex fails to do... accurately representing supply and demand. Its so meticulous infact that i almost exclusively trade crude on m1 and m5. Using M15 and h1 as a general orientation and as with all my charts watching pitchfork and PA frequency/structure on daily and weekly.

Then again i will also agree, that for the many newbies who read this, crude futures will most likely be the early death of their accounts. Then again if some idiot with a 5000$ account thinks he can start playing gangsta trader with crude futures especially after looking on m5 charts and realizing it moves 40-60 pips on average every 15 minutes... and yet he still decides to trade then its only their stupidity they can blame.

Then again people can always easily try out the Crude CFD futures instead of the actual Nymex contracts. Or try it out on a demo first to start feeling the rythm. So anyways this is really surprising on how some of the traders in here feel crude is hard. Not considering myself a pro or anything but i just find crude to be as easy as taking candy away from a toddler and then roundhousekicking their grandmothers to dislocate their hips.

Oh well, im off for good now, i would love to continue this conversation some other time though, just thought i should add my perspective into here.

Kind regards,
O.

1.48

..


you dont wanna see the next one...

before the storm. usually there clouds.

Ken, thoughts on aussie next week? I'm sittin short but had plans to buy a new hourly low... not so sure anymore

In trading everything is in the eye of the beholder.

I strongly agree with you on TA part of these instruments and also that not sane retail trader can trade FA in oil. However I strongly disagree on recommending them for newbies...fast and wild is not the best way to start with.

Slow, very liquid and less volatile will give a lot better results for newcomers but hey thats boring and require patience and constancy and wouldn't fit the quick buck and the gambling side of some of the newcomers that come to the trading world....

In any case, enjoy the weekend bro...I'll be around on skype for in depth exchange on some trades in these instruments....

sisse

im out my scalps.. if we dont hit 3360 maybe we will retrace some for another try.. not hitting 3360 leaves 37xx open.. im not saying we are heading there. but its there. china closed, so it leaves room to pump up some next week. i will cross that bridge when we get to the other side. one thing is a certainty, nothing is certain...

hey guys... interesting end to the week

glad to see UCHF is finally movin up out of that range crap it was holding in the 8920-9000 range...

Im pissed Ive been waiting for the EG to break short from the godforsaken 8700 for flippin forever now... and when it finally does Im not in it...


Got some possible plays on the yen next week if we get a break of the 78... Im expecting to see a retest of 80.24... on the other hand if it turns and cracks the 75 Ill be playing it short for a new low of 72.50

some major GBP news next week on the rate decision.. Im lookin at further Gbp weakness on announcements of further QE ...

Euro should continue to weaken down to the low 1.30's obviously before the ECB rate announcement( 50bps cut???) and trichets speech will be a mover as usual... just gotta see how the market prices in his almost certainly dovish tone before the news...

also gonna watch my turkish Lira short positions... I can def see some intervention happening if it keeps declining...

Ready...waiting.

Do you map GJ at all?

and after too...are we done with the storm or it's about to begin? , thats the question

sisse

Missed by a few. Sorry about that.

whats ur skype my friend? can you PM it too me? I like discussing fundies with you and bouncing em off someone who kinda trades like I do( bigger TF TA, fundie analysis)

You kidding me? Nearly time, mate...we're due one. Purples, or

I'd love to if you have some time tommorow

Good night

the whore week? wtf? :o

Yeah...flattened her up myself...I was long.

Because of quarter end, I'm in "wait and see" mode, but if I had to be somewhere right now...I would favour shorts. I may try some longs around the 9540/80 region.

hope it's not pink, bastard.

Day off mate...sunday evening will do it.

Wulfg...PM sent

sisse

Word brother, have a good weekend

Done here too. Lots of charting still to be done but for Sunday.... enjoy the weekend all...

sisse