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The Really Useless Thread

  • #23,321
  • Edited 1:03am Oct 9, 2011 12:53am | Edited 1:03am
gbp below 5540 better 5532 could be a 125 pip move. below 5532 gives more confidence. but the r/r is about = there. its currently about 5560.. on bigger charts the move indicated is much deeper. so on longer term charts the risk being = in the st may be worth it. the blue tl line has been broken indicating the red will also.. as well as 5532.. on a micro r/r 5580 may be enough if your lucky as the risk.. on this 15 m you can see the bounce after breaking the blue tl.. nothing to write home about.. very boring.. but it is a crack.. after breaking this tl it bounced. if you notice the candles after this high.. there is an piercing red one...showing weakness. meaning the tl should be breached.
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those who can, do. those who cant, talk about those who can
  • #23,322
  • Oct 9, 2011 1:19am Oct 9, 2011 1:19am
Quoting gatorinla
gbp below 5540 better 5532 could be a 125 pip move. below 5532 gives more confidence. but the r/r is about = there. its currently about 5560.. on bigger charts the move indicated is much deeper. so on longer term charts the risk being = in the st may be worth it. the blue line has been broken indicating the red will also.. as well as 5532

Im seein the same thing

also historically every time the BOE has launched any type of QE the GBP has ALWAYS devalued significantly over the following month...
I Can see the 1.4572 on the GU getting nailed in the next 6 months
  • #23,323
  • Oct 9, 2011 5:31am Oct 9, 2011 5:31am
Quoting attila
I just find it sad people not sharing their thinking and way of trading. It's like everybody is holding on some kind of a big secret. That's bull shit. There is no secret. We all have pretty much the same lines on our charts. The point is to figure out if the price will get there or not. I know it's not a strategy thread but in general these kind of threads only deal with ONE way of doing things. It would be nice to see different strategies or way of thinking in real time, while the price is moving around.

I was the only one on this thread...
You are a wise man attila.
Not the normal smart guy which learns by his mistakes but also learning from others...
Keep posting your views when you find the time, and enjoy the rest of the week-end
  • #23,324
  • Oct 9, 2011 6:02am Oct 9, 2011 6:02am
Quoting attila
I just find it sad people not sharing their thinking and way of trading. It's like everybody is holding on some kind of a big secret. That's bull shit. There is no secret. We all have pretty much the same lines on our charts. The point is to figure out if the price will get there or not. I know it's not a strategy thread but in general these kind of threads only deal with ONE way of doing things. It would be nice to see different strategies or way of thinking in real time, while the price is moving around.

I was the only one on this thread that...
Yep.
We do all have reasons for entering a trade,whenever we enter one.Always.
Sometimes , if we need to deal quickly, the reasons for enter a trade are in our subconscious.
Then if we plan a trade we search for reasons that fit with our personal logic behind the market and price action.
So someone might enter if EMA 7 crosses EMA 14 and another one might enter if price reaches a VBRN to play for a reversal.

As you already mentioned above we do all have the same charts and prices, we mostly do have the same levels being traded.
Thats why trading is 80 % psychology. moneymanagement etc.

This thread isn't about a certain or special strategy, this thread is a pool of traders posting their entries and exits, mostly there are no certain reasons being posted why they enter and why they dont. But thats the information we are actually interested in when we join such a thread.

I dont wanna know whether Trader X enters a trade on Pair X at price X, i want to know why he entered at price X .

Thats the main reason why i dont spend any time in such threads anymore. Waste of time.

Jonas.
Hero calls followed by margin calls...
  • #23,325
  • Edited 7:41am Oct 9, 2011 7:12am | Edited 7:41am
Quoting Larseg
You are a wise man attila.
Not the normal smart guy which learns by his mistakes but also learning from others...
Keep posting your views when you find the time, and enjoy the rest of the week-end
Thanks for the remarks but I think I'm done with this thread. Just in case you missed this post.

http://www.forexfactory.com/showthre...10#post5023410

If anybody is looking for the holy grail, it's pretty simple actually: Be able to distinguish between a retrace vs. a reversal. Don't look for formulas, levels etc. They are all BS, I see it here all the time, and I chuckle every time when I read such posts. I have my levels too, but I don't enter blindly when the price reaches them. They are only helpers/part of my system of identifying rev/retraces. Or you can call them better support/resistance points.

@panthy
Here's what I would have liked to see and an answer to your requests of understanding why enter here, why hold, why exit. I took a little time on Friday to do just that...

http://www.forexfactory.com/showthre...22#post5022022

All right, enough of this. I wish you all good luck.
  • #23,326
  • Oct 9, 2011 7:52am Oct 9, 2011 7:52am
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  • #23,327
  • Oct 9, 2011 8:10am Oct 9, 2011 8:10am
Quoting Wulfgar
Im seein the same thing

also historically every time the BOE has launched any type of QE the GBP has ALWAYS devalued significantly over the following month...
I Can see the 1.4572 on the GU getting nailed in the next 6 months
according this it could be DEC 11 and after. we went lower since this #20469
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those who can, do. those who cant, talk about those who can
  • #23,328
  • Oct 9, 2011 8:26am Oct 9, 2011 8:26am
Quoting Wulfgar
Im seein the same thing

also historically every time the BOE has launched any type of QE the GBP has ALWAYS devalued significantly over the following month...
I Can see the 1.4572 on the GU getting nailed in the next 6 months
long before qe announced. the cause of the announcement was there. we cant go down forever, but before the trend changes it will give clues. i got LL and LH's still.. LT.. just waiting to add to the wave i ride. the much lower one says 1.17xx.. the domino below it 0.58.. sure i doubt 0.58xx.. any time soon if ever.. but its what the chart shows. the direction is clear. so all i do is look for weakness of the reversal up when it comes. as it will and always does on any chart. that's why the lines are not straight
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those who can, do. those who cant, talk about those who can
  • #23,329
  • Oct 9, 2011 8:44am Oct 9, 2011 8:44am
all holidays are over.. back to reality
  • #23,330
  • Oct 9, 2011 8:51am Oct 9, 2011 8:51am
sp500 8hour
a break?
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  • #23,331
  • Oct 9, 2011 9:12am Oct 9, 2011 9:12am
Quoting Wulfgar
Im seein the same thing

also historically every time the BOE has launched any type of QE the GBP has ALWAYS devalued significantly over the following month...
I Can see the 1.4572 on the GU getting nailed in the next 6 months
wtf am I missing? didn't they do the first and biggest load in early March 09 - after which the pound rallied?

sorry if I'm missing something obvious - question goes to all btw
  • #23,332
  • Edited 10:59am Oct 9, 2011 9:52am | Edited 10:59am
Quoting attila
I just find it sad people not sharing their thinking and way of trading. It's like everybody is holding on some kind of a big secret. That's bull shit. There is no secret. We all have pretty much the same lines on our charts. The point is to figure out if the price will get there or not. I know it's not a strategy thread but in general these kind of threads only deal with ONE way of doing things. It would be nice to see different strategies or way of thinking in real time, while the price is moving around.

I was the only one on this thread that...
Only if we had a private thread. Ff offers no such yet.

for me, i like useless thread. we all have our edge (most here do). no need to share strategy. all i want is to get few good laughs and relax before taking trades. useless thread is perfect for that.
  • #23,333
  • Oct 9, 2011 10:04am Oct 9, 2011 10:04am
Quoting chazzle
wtf am I missing? didn't they do the first and biggest load in early March 09 - after which the pound rallied?

sorry if I'm missing something obvious - question goes to all btw
ur right

Im an idiot

I was thinking about the early 80's when the conservatives were in power and the GBP had the massive fall vs the USD.... but that also may of been just as much Volker jacking US interest rates to record highs as much as the austerity measures of the thatcher era

QE= stronger GBP.... odd, but I suppose money printing does not automatically equal a weaker currency.... although in this particular situation and economic climate... Im inclined to think that it will...
  • #23,334
  • Oct 9, 2011 10:36am Oct 9, 2011 10:36am
Quoting Wulfgar
ur right

Im an idiot

I was thinking about the early 80's when the conservatives were in power and the GBP had the massive fall vs the USD.... but that also may of been just as much Volker jacking US interest rates to record highs as much as the austerity measures of the thatcher era

QE= stronger GBP.... odd, but I suppose money printing does not automatically equal a weaker currency.... although in this particular situation and economic climate... Im inclined to think that it will...
regarding the money print.... eurozone countries are limited in printing new money.... thats a big problem compared with the states and asia nations imho.
Hero calls followed by margin calls...
  • #23,335
  • Oct 9, 2011 10:37am Oct 9, 2011 10:37am
Quoting pkimnyc
Only if we had a private thread. Ff offers no such yet.
well private thread would be awesome.... s.o. gonna talk with Twee? : p
Hero calls followed by margin calls...
  • #23,336
  • Oct 9, 2011 10:41am Oct 9, 2011 10:41am
Quoting PhAnTi'
well private thread would be awesome.... s.o. gonna talk with Twee? : p
i believe i did in the past. no such plan from ff is what i got.
  • #23,337
  • Oct 9, 2011 10:43am Oct 9, 2011 10:43am
Quoting pkimnyc
i believe i did in the past. no such plan from ff is what i got.
tzzzz...suckers

ill give it a shoot and talk to Twee.
Hero calls followed by margin calls...
  • #23,338
  • Oct 9, 2011 10:44am Oct 9, 2011 10:44am
Quoting PhAnTi'
tzzzz...suckers

ill talk to Twee
hope you get a better luck than i did. let us know how it goes.
  • #23,339
  • Oct 9, 2011 10:45am Oct 9, 2011 10:45am
Quoting pkimnyc
hope you get a better luck than i did. let us know how it goes.
I will , lets c
Hero calls followed by margin calls...
  • #23,340
  • Oct 9, 2011 11:19am Oct 9, 2011 11:19am
Quoting Wulfgar
ur right

Im an idiot

I was thinking about the early 80's when the conservatives were in power and the GBP had the massive fall vs the USD.... but that also may of been just as much Volker jacking US interest rates to record highs as much as the austerity measures of the thatcher era

QE= stronger GBP.... odd, but I suppose money printing does not automatically equal a weaker currency.... although in this particular situation and economic climate... Im inclined to think that it will...
The first launch of QE in the UK, as we know it, came in March 2009, when the Bank Rate was at an all-time low and could effectively go no lower to provide any sort of meaningful boost to the economy.

All things being equal, I agree, that sterling should weaken on the back of this recent move by BOE - this is certainly what the MPC and the Conservative government are hoping for. Although how much of that depreciation has already occurred in recent weeks - as another round of QE, to be announced in November, was being priced in as a done deal by the markets - remains to be seen.

Personally, I live in the UK and am a net saver, not a borrower, but am still in favour of the decision taken on Thursday.
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