The Really Useless Thread | Page 1394 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

The Really Useless System 25 replies

Bloomberg: VIX Indicator useless for forecasting the direction of equity prices 0 replies

The Really Really Boring Forex System 97 replies

Attachments: The Really Useless Thread
Exit Attachments

The Really Useless Thread

  • #27,861
  • Oct 21, 2011 4:29am Oct 21, 2011 4:29am
Quoting PayTheLimit
late NY right here..
Indeed...went through the roll...but fell back. Can we get a close above?
  • #27,862
  • Oct 21, 2011 4:29am Oct 21, 2011 4:29am
Quoting chazzle
Smoke time
Ooooooh...great plan!
  • #27,863
  • Oct 21, 2011 4:32am Oct 21, 2011 4:32am
Quoting hkkhanus
same here bro, more energetic today as instead of going up i got into reverse gear and got myself into trouble, start of the week ..
so trying to close the week with atleast BE ,
Its really gotta clear and hold a close above 1.5850. Until then...I'll sell it...if I even trade it at all.
  • #27,864
  • Oct 21, 2011 4:36am Oct 21, 2011 4:36am
Quoting kenfen69
LOVE your swing close levels! Probably almost as much as you do!

Still trying to burn those into my head....just how to mark them immediately when I look at a chart.
again, uncanny how they get respect...I can't take any credit on those, I started using them years ago after I read one of Tom Demarks books...he argued, correctly in my opinion, that the close is the most important price. Thats where people make decisions from, not the low, not the high. He was taking about the daily bars. After I went to the floor, I saw the truth in this, well at least for most of the guys on the floor. When I looked at an open position, I always looked at it from settlement, not the price I got in. Thats because your Total Equity was calculated from there. So if I got long at 47, and we closed at 55, the next day when I came in, I traded as I was long from 55. I dont know if that makes any sense. Anyway, I started using the bastards on the 1hr, and again they seem to get some respect....
Look Sharp/Trade Tight
  • #27,865
  • Oct 21, 2011 4:36am Oct 21, 2011 4:36am
Quoting PayTheLimit
3810 yesterdays swing high close..
You bastard!

Actually...that one confused me. I thought it would have been 3800. I thought it was the close of the bar after the bar with the high/low. Fakker!

So its the close of the bar WITH the high or the low?
  • #27,866
  • Oct 21, 2011 4:39am Oct 21, 2011 4:39am
i would, around 5819 ish .. somewhere in that area looks like good rr
Quoting kenfen69
Its really gotta clear and hold a close above 1.5850. Until then...I'll sell it...if I even trade it at all.
  • #27,867
  • Oct 21, 2011 4:39am Oct 21, 2011 4:39am
Quoting hkkhanus
thanks bro .. out of it already with +13 ., do you watch GU?
Yes I do. But I usually don't trade it intraday like the euro so only aim at larger swings to position trades. I am fixated since August with a position trade that I am still waiting for a trigger.... In any case, I do track it closely.

sisse
Pending conversations? PM for a chat...I am mainly in OTM now
  • #27,868
  • Oct 21, 2011 4:42am Oct 21, 2011 4:42am
Quoting kenfen69
You bastard!

Actually...that one confused me. I thought it would have been 3800. I thought it was the close of the bar after the bar with the high/low. Fakker!

So its the close of the bar WITH the high or the low?
yes, the close of the bar that has the high or low of the swing in it...
Attached Image (click to enlarge)
Click to Enlarge Name: chart3.gif Size: 15 KB
Look Sharp/Trade Tight
  • #27,869
  • Oct 21, 2011 4:42am Oct 21, 2011 4:42am
Quoting kostas1
Hey bastards,
Got my daily quota (+33p) from this "Cleavage-bounce" off EMA23 in M5. I will probably take a little more risk today trying a possible bounce from H1 EMA 10.

P.S. I have also attached the inspiration for this trade.
My fellow bastards,
Here is another "Cleavage-bounce" from today. Also got my daily quota with this.

P.S. New cleavage inspiration image also attached.
Attached Image (click to enlarge)
Click to Enlarge Name: eu1.jpg Size: 137 KB
Attached Image
  • #27,870
  • Oct 21, 2011 4:42am Oct 21, 2011 4:42am
Quoting PayTheLimit
again, uncanny how they get respect...I can't take any credit on those, I started using them years ago after I read one of Tom Demarks books...he argued, correctly in my opinion, that the close is the most important price. Thats where people make decisions from, not the low, not the high. He was taking about the daily bars. After I went to the floor, I saw the truth in this, well at least for most of the guys on the floor. When I looked at an open position, I always looked at it from settlement, not the price I got in. Thats because your Total Equity...
Makes perfect sense!

And the respect? Look at the wicks of the two highest hourly bars today. Coinkydink...or respect?
  • #27,871
  • Oct 21, 2011 4:43am Oct 21, 2011 4:43am
shit and i closed out that long from 3714 before i left lol damnit
  • #27,872
  • Oct 21, 2011 4:43am Oct 21, 2011 4:43am
Quoting PayTheLimit
yes, the close of the bar that has the high or low of the swing in it...
je je je ...a Resistance or Support in simple words...Nice bro your charts are always useful and your levels always relevant...

sisse
Pending conversations? PM for a chat...I am mainly in OTM now
  • #27,873
  • Oct 21, 2011 4:45am Oct 21, 2011 4:45am
Quoting sisse
je je je ...a Resistance or Support in simple words...Nice bro your charts are always useful and your levels always relevant...

sisse

thanks bro, as are yours brother...
Look Sharp/Trade Tight
  • #27,874
  • Oct 21, 2011 4:47am Oct 21, 2011 4:47am
morning bastards a bit late to the party
  • #27,875
  • Oct 21, 2011 4:48am Oct 21, 2011 4:48am
Quoting PayTheLimit
yes, the close of the bar that has the high or low of the swing in it...
OK...that makes it MUCH easier on my poor pea-brain then!

I think I might have been reading up on them a while back, and whomever I was reading was saying that they can be subjective...exactly what people consider to be the swing point of a move. I much prefer the close of the high low bar...seems much more logical. If you have a decent engulfing candle after your high/low bar, and you use that bar's close...you can have a pretty funky swing point.

Have to see if I can find what I was reading, to make sure I wasn't dreaming!
  • #27,876
  • Oct 21, 2011 4:48am Oct 21, 2011 4:48am
Quoting kenfen69
Makes perfect sense!

And the respect? Look at the wicks of the two highest hourly bars today. Coinkydink...or respect?
Well is more than that is that the ultimate high or low are exhaustion price where is barely anybody trading. That why the reference between the high/close /open in a swing is a lot more relevant from a TA perspective.

Check this out, a very useful and powerful reading in basic TA (http://gourmetrader.com/collection/t...and-trendlines)

sisse
Pending conversations? PM for a chat...I am mainly in OTM now
  • #27,877
  • Oct 21, 2011 4:48am Oct 21, 2011 4:48am
Quoting kenfen69
Makes perfect sense!

And the respect? Look at the wicks of the two highest hourly bars today. Coinkydink...or respect?
I missed one from Asia...but you dont have to use them all...
Attached Image (click to enlarge)
Click to Enlarge Name: chart3.gif Size: 15 KB
Look Sharp/Trade Tight
  • #27,878
  • Oct 21, 2011 4:49am Oct 21, 2011 4:49am
Quoting darimik
morning bastards a bit late to the party
What!!! Says who?

  • #27,879
  • Oct 21, 2011 4:51am Oct 21, 2011 4:51am
looks like a fade against 3765 on the bell..
Look Sharp/Trade Tight
  • #27,880
  • Oct 21, 2011 4:51am Oct 21, 2011 4:51am
Quoting kostas1
My fellow bastards,
Here is another "Cleavage-bounce" from today. Also got my daily quota with this.

P.S. New cleavage inspiration image also attached.
My sweet lord!

A man...or woman...could get lost in that cleavage! I volunteer to head the search party!

Not too shabby of a trade, either mate! One of your breast trades yet!
155 traders viewing now