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The Really Useless Thread

  • #27,501
  • Oct 20, 2011 2:32pm Oct 20, 2011 2:32pm
Quoting hkkhanus
no purples?
all i got...
Attached Image (click to enlarge)
Click to Enlarge Name: chart1.gif Size: 25 KB
Look Sharp/Trade Tight
  • #27,502
  • Oct 20, 2011 2:33pm Oct 20, 2011 2:33pm
Quoting hkkhanus

rockon Samdani bro,
i am working off a similar chart since yesterday
the only difference is your chart is neat and mine is a bit of a MESS lol
Neat or not, as long as you make money out of it. Its all GOOOOOOOOOOOOD
The finest tool in the world still needs a MAN who KNOWS how to use it.
  • #27,503
  • Oct 20, 2011 2:35pm Oct 20, 2011 2:35pm
Quoting Wulfgar
It really is pretty untradeable IMHO... At least for my trading skill sets
Why? The operative paradigm is: there is no bad news. The kids that drive the market, equities or forex, have been programmed to believe that (a) good news is good news, and (b) bad news will be turned into good news because CB/politicians will react to it.

It isn't the Titanic syndrome, (where people believed they were going to be saved right until they were in the freezing water), really. It's genuine belief that the system is indestructible. 2008/9 just reinforced that belief.

Faith does not proceed linearly, nor obey economic laws.
  • #27,504
  • Oct 20, 2011 2:41pm Oct 20, 2011 2:41pm
Quoting OldQuant
Why? The operative paradigm is: there is no bad news. The kids that drive the market, equities or forex, have been programmed to believe that (a) good news is good news, and (b) bad news will be turned into good news because CB/politicians will react to it.

It isn't the Titanic syndrome, (where people believed they were going to be saved right until they were in the freezing water), really. It's genuine belief that the system is indestructible. 2008/9 just reinforced that belief.

Faith does not proceed linearly, nor obey economic laws.
Well agree to some extend. What you say happens more often than not ...until it fail. That's exactly what caused the collapse in 2008, the politicians couldn't react fast enough or do something sufficient to stop the collapse. The suckers, including some (many) institutions, who got stuck buying the dip (and I know quite a few and you probably too) lost their shirt and more covering those longs in the run...

sisse
Pending conversations? PM for a chat...I am mainly in OTM now
  • #27,505
  • Oct 20, 2011 2:42pm Oct 20, 2011 2:42pm
Quoting OldQuant
The operative paradigm is: there is no bad news.
if i were riding a never-ending wave of easy usd i might tend to concur
"If The Fool persists in his Folly he will become wise." - William Blake
  • #27,506
  • Oct 20, 2011 2:45pm Oct 20, 2011 2:45pm
Quoting OldQuant
Why? The operative paradigm is: there is no bad news. The kids that drive the market, equities or forex, have been programmed to believe that (a) good news is good news, and (b) bad news will be turned into good news because CB/politicians will react to it.

It isn't the Titanic syndrome, (where people believed they were going to be saved right until they were in the freezing water), really. It's genuine belief that the system is indestructible. 2008/9 just reinforced that belief.

Faith does not proceed linearly, nor obey economic laws....
I totally agree

I sorta just misspoke... I'm still actively hunting for trades... Just since the markets are moving in a counterintuitive manner without a clear directional bias and many many political talking heads causing more FA spikes than usual.... I've just been using less leverage...

For whatever reason I like to understand why I'm in a trade .... Lol
  • #27,507
  • Oct 20, 2011 2:47pm Oct 20, 2011 2:47pm
gotta luv the purples
Quoting PayTheLimit
all i got...
  • #27,508
  • Oct 20, 2011 2:48pm Oct 20, 2011 2:48pm
Quoting sisse
Well agree to some extend. What you say happens more often than not ...until it fail. That's exactly what caused the collapse in 2008, the politicians couldn't react fast enough or do something sufficient to stop the collapse. The suckers, including some (many) institutions, who got stuck buying the dip (and I know quite a few and you probably too) lost their shirt and more covering those longs in the run...

sisse
That was a hard lesson for those institutions on what happens when u r on the wrong side of overexposure to illiquid instruments...
  • #27,509
  • Oct 20, 2011 2:50pm Oct 20, 2011 2:50pm
Quoting sisse
The problem was not in the levels but in the flow of the chart (because of all the moves were on rumors in a thin market). A -120/+170/-180/+130 and counting intraday with direct moves (no reversal candle wise or rejection of swings,etc) is not normal. Glancing at past data I haven't found one in the last 7 years....

sisse
I know what you mean bro. My broker's 15 min chart gives me good candlestick formations at key levels. Take a look at the chart below. The trade i am in was from an engulfing candle right @ the TL on H1.
Attached Image (click to enlarge)
Click to Enlarge Name: 250 15 min 10-20-11.gif Size: 24 KB
The finest tool in the world still needs a MAN who KNOWS how to use it.
  • #27,510
  • Oct 20, 2011 2:51pm Oct 20, 2011 2:51pm
Quoting gatorinla
break 57 and 3801 on the grill
s/r 3793 3816 3821.3 3838.7 3866
those who can, do. those who cant, talk about those who can
  • #27,511
  • Oct 20, 2011 2:53pm Oct 20, 2011 2:53pm
Quoting sisse
The suckers, including some (many) institutions, who got stuck buying the dip (and I know quite a few and you probably too) lost their shirt and more covering those longs in the run...

sisse
You're right, of course. But part of it is that it is dangerous, especially if one has the luxury of not being of institutional size, to fade/frontrun the news "on the dip." Rather, it is far safer to follow the reactions than to anticipate.

Sooner or later, the complexity of the situation means that a cause will arise from a direction not anticipated or foreseen, and the force of repricing overcomes the paradigm of blind belief, at least for a time.

Now I have to run off. Back later.
  • #27,512
  • Oct 20, 2011 2:54pm Oct 20, 2011 2:54pm
3821/22 atm looks promising.
those who can, do. those who cant, talk about those who can
  • #27,513
  • Oct 20, 2011 2:54pm Oct 20, 2011 2:54pm
Quoting samdani786
I know what you mean bro. My broker's 15 min chart gives me good candlestick formations at key levels. Take a look at the chart below. The trade i am in was from an engulfing candle right @ the TL on H1.
I see very nice. I must admit with that chart that M15 ruled today. Sadly I am in H4 (H1 max for micro detail) and it was definitively not the day there.

sisse
Pending conversations? PM for a chat...I am mainly in OTM now
  • #27,514
  • Oct 20, 2011 2:54pm Oct 20, 2011 2:54pm
ok...late NY print pool, pick a level...first prize...a mushroom and swiss burger at Hardees, second prize, a set of steak knives, third prize, your fired..my pool, so I pick first..I'll take 3760, unch on the day...
Attached Image
Look Sharp/Trade Tight
  • #27,515
  • Oct 20, 2011 2:56pm Oct 20, 2011 2:56pm
Quoting PayTheLimit
ok...late NY print pool, pick a level...first prize...a mushroom and swiss burger at Hardees, second prize, a set of steak knives, third prize, your fired..my pool, so I pick first..I'll take 3760, unch on the day...
3827 ftw

On the monumental failing of the EZ's politickin... And the subsequent bullish bias it's creating...
  • #27,516
  • Oct 20, 2011 2:57pm Oct 20, 2011 2:57pm
Quoting PayTheLimit
ok...late NY print pool, pick a level...first prize...a mushroom and swiss burger at Hardees, second prize, a set of steak knives, third prize, your fired..my pool, so I pick first..I'll take 3760, unch on the day...
That'd have been my print, too.

Umm. Co-les-ter-al: a health neutral component in the yummiest food on the planet. Mine with slaw, dark beer. And cut it into halves.
  • #27,517
  • Oct 20, 2011 3:00pm Oct 20, 2011 3:00pm
Quoting sisse
I see very nice. I must admit with that chart that M15 ruled today. Sadly I am in H4 (H1 max for micro detail) and it was definitively not the day there.

sisse
me too always have from weekly to 1 min chart right in front of me with levels drawn. But my entry setup is off 5 min and I manage the trade on 1 min till the market takes me out .
The finest tool in the world still needs a MAN who KNOWS how to use it.
  • #27,518
  • Oct 20, 2011 3:01pm Oct 20, 2011 3:01pm
Quoting OldQuant
That'd have been my print, too.

Umm. Co-les-ter-al: a health neutral component in the yummiest food on the planet. Mine with slaw, dark beer. And cut it into halves.
well you could still take 3761 or 3759...
Look Sharp/Trade Tight
  • #27,519
  • Oct 20, 2011 3:05pm Oct 20, 2011 3:05pm
Quoting chazzle
"You think I'm a joke? - well F*** YOU" bless him , he just wanted to go on TV
Inserted Video
  • #27,520
  • Oct 20, 2011 3:13pm Oct 20, 2011 3:13pm
what time that'd be gmt?
Quoting PayTheLimit
ok...late NY print pool, pick a level...first prize...a mushroom and swiss burger at Hardees, second prize, a set of steak knives, third prize, your fired..my pool, so I pick first..I'll take 3760, unch on the day...
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