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The Really Useless Thread

  • #44,881
  • Jan 3, 2012 11:32am Jan 3, 2012 11:32am
Quoting FibbinArchie
that's a worthy discussion topic, the drip, drip, drip approach to profit accumulation vs the hold through the retrace mentality, given that a lot of these pairs do tend to retrace every single pip of movement...
Why I absolutely hate swing trading at times.

Then, it makes it seem like price is going to reverse directions and makes you nervous about your bias (like it's doing now). This shit gets old. LOL
  • #44,882
  • Jan 3, 2012 11:37am Jan 3, 2012 11:37am
Quoting Venice
Why I absolutely hate swing trading at times.

Then, it makes it seem like price is going to reverse directions and makes you nervous about your bias (like it's doing now). This shit gets old. LOL
but it's only 20 or so pips off the high, to me 20 pips is a bankable trade, but if you got in at the swing low then it's an acceptable draw down in profit for the chance of a continuation...

edit- so far that is...

question is, where do you draw the line?? a mandatory amount, a fib retrace level, etc. etc.? would be interesting to hear opinions. the number of times i've seen a healthy profit dwindle to nothing, trying to hold for the continuation..
  • #44,883
  • Jan 3, 2012 11:40am Jan 3, 2012 11:40am
Quoting FibbinArchie
that's a worthy discussion topic, the drip, drip, drip approach to profit accumulation vs the hold through the retrace mentality, given that a lot of these pairs do tend to retrace every single pip of movement...
the aussie and euro retrace right before the data release was absolutely horrendous... i was already to deep into profit i had to just ride it out to get that last push up...

what i did wrong was after that i should have taken profit on the push up instead of waiting for that pullback to see if may break through on the second pass...

its just not worth the xtra 20 pips if it does bc your waisting all that time and also potentially wasting an xtra 40 pips in profit if it never comes back to that area...

so my thing is to pick a nice big stop level to put my tp order in and just leave it and not touch the damn thing unless price looks like it may not make it there

like i said i lost a ton of profits last year trying to hit home runs all the damn time... then price retrace on me and stop me out BE or +10

again... not worth it
  • #44,884
  • Jan 3, 2012 11:41am Jan 3, 2012 11:41am
Quoting FibbinArchie
but it's only 20 or so pips off the high, to me 20 pips is a bankable trade, but if you got in at the swing low then it's an acceptable draw down in profit for the chance of a continuation...

edit- so far that is...
Yep, from the short side bias... this is phenomenal r/r for a new swing entry. Long trade it needs to go down at least a few hundred pips.
  • #44,885
  • Jan 3, 2012 11:42am Jan 3, 2012 11:42am
Quoting fxjawn
lol yes but i realized that being to greedy was leaving alot more profits on the table then just taking profit early would have...

i waited to 1 pullback and on the next push towards the high i took my money...

im over trying to catch them all.... im more into stacking cash now

Same here, sort off... I never pick bottom nor top but my income is were I want it.
  • #44,886
  • Jan 3, 2012 11:45am Jan 3, 2012 11:45am
u looking into fading FOMC?


Quoting fxjawn
the aussie and euro retrace right before the data release was absolutely horrendous... i was already to deep into profit i had to just ride it out to get that last push up...

what i did wrong was after that i should have taken profit on the push up instead of waiting for that pullback to see if may break through on the second pass...

its just not worth the xtra 20 pips if it does bc your waisting all that time and also potentially wasting an xtra 40 pips in profit if it never comes back to that area...

so my thing is to pick a nice big...
dreams do come true.
  • #44,887
  • Jan 3, 2012 11:45am Jan 3, 2012 11:45am
Quoting Larseg
Same here, sort off... I never pick bottom nor top but my income is were I want it.
plus all the time wasted waiting for it to retrace then push again just for an xtra 20 pips... not worth it... get stuck for 4 hours in a trade could have taken 2
  • #44,888
  • Jan 3, 2012 11:45am Jan 3, 2012 11:45am
Quoting fxjawn
the aussie and euro retrace right before the data release was absolutely horrendous... i was already to deep into profit i had to just ride it out to get that last push up...

what i did wrong was after that i should have taken profit on the push up instead of waiting for that pullback to see if may break through on the second pass...

its just not worth the xtra 20 pips if it does bc your waisting all that time and also potentially wasting an xtra 40 pips in profit if it never comes back to that area...

so my thing is to pick a nice big stop...
that's it, me too, going for the home runs all the time, far better to play the averages instead..

anyways gotta nip out, catch y'all later...
  • #44,889
  • Jan 3, 2012 11:45am Jan 3, 2012 11:45am
Quoting wannaberich
u looking into fading FOMC?
nfp u mean?
  • #44,890
  • Jan 3, 2012 11:46am Jan 3, 2012 11:46am
Quoting Larseg
Same here, sort off... I never pick bottom nor top but my income is were I want it.

discussable sometimes off course

my philosophy at least...
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  • #44,891
  • Jan 3, 2012 11:47am Jan 3, 2012 11:47am
Quoting Larseg
discussable sometimes off course

my philosophy at least...
lol nice
  • #44,892
  • Jan 3, 2012 11:53am Jan 3, 2012 11:53am
FOMC today? couple of hours... or am i reading wrong?

Quoting fxjawn
nfp u mean?
dreams do come true.
  • #44,893
  • Jan 3, 2012 11:56am Jan 3, 2012 11:56am
Looking for Daily 20Ma @ approx 1.3090 to be hit before retrace
Disclaimer: Check your 1m charts
  • #44,894
  • Jan 3, 2012 11:56am Jan 3, 2012 11:56am
Quoting wannaberich
FOMC today? couple of hours... or am i reading wrong?
thats just the meeting minutes bro... what u wanto look for is the fomc statement 24-25th of january
  • #44,895
  • Jan 3, 2012 11:58am Jan 3, 2012 11:58am
just learnt something today!

i do suck at all fundamental related stuff, like news well, truth is i do suck at trading overall but i try, oh i try...


Quoting fxjawn
thats just the meeting minutes bro... what u wanto look for is the fomc statement 24-25th of january
dreams do come true.
  • #44,896
  • Jan 3, 2012 12:02pm Jan 3, 2012 12:02pm
Quoting wannaberich
FOMC today? couple of hours... or am i reading wrong?
nfp will be friday that thats fade central bro... we always set up agains major stop levels right before the data comes out then at the release price pops the stops at resistance or support then grinds the opposite direction 150-200 pips

last month it was the 3550 area... climbed throughout london up to the area of 3550 where major resistance and stops were....then popped the stop level and grinded lower 170 pips or so...

look at it on the chart where the yellow lines cross
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  • #44,897
  • Jan 3, 2012 12:06pm Jan 3, 2012 12:06pm
waiting to get that pack of gum u owe me (i kid, bro)

and i'd love to see it paid with interest at the rate of the greek bonds at their worst! LOL

Quoting fxjawn
nfp will be friday that thats fade central bro... we always set up agains major stop levels right before the data comes out then at the release price pops the stops at resistance or support then grinds the opposite direction 150-200 pips

last month it was the 3550 area... climbed throughout london up to the area of 3550 where major resistance and stops were....then popped the stop level and grinded lower 170 pips or so...

look at it on the chart where the yellow lines cross
dreams do come true.
  • #44,898
  • Jan 3, 2012 12:07pm Jan 3, 2012 12:07pm
Quoting wannaberich
just learnt something today!

i do suck at all fundamental related stuff, like news well, truth is i do suck at trading overall but i try, oh i try...
nice! i like big news days bro.... ppl try to tell you its just a gamble and that just nonsense....if you know what to look for it can be quite profitable...

once the direction is established movement is quite deliberate...

only thing u have to watch for on fomc is they like to sweep both ends of the range so once stops are hit on one end watch for a reversal to the other... sometimes thought 1 side of the sweep will be done pre data release to then the trend can just be grinded in the one direction taking out several levels of support and resistance in 1 session
  • #44,899
  • Jan 3, 2012 12:08pm Jan 3, 2012 12:08pm
Quoting fxjawn
nfp will be friday that thats fade central bro... we always set up agains major stop levels right before the data comes out then at the release price pops the stops at resistance or support then grinds the opposite direction 150-200 pips

last month it was the 3550 area... climbed throughout london up to the area of 3550 where major resistance and stops were....then popped the stop level and grinded lower 170 pips or so...

look at it on the chart where the yellow lines cross
1 hr indicates another bull run. next res is ar'd 3200 ish area. fucking frankie with fake reversal bar... couldn't take the trade in london. bastards...
  • #44,900
  • Jan 3, 2012 12:09pm Jan 3, 2012 12:09pm
Quoting wannaberich
waiting to get that pack of gum u owe me (i kid, bro)

and i'd love to see it paid with interest at the rate of the greek bonds at their worst! LOL
lol that damn yep caught us that day bro... if u noticed all yen crossed were moving opposite of the way they should that day....

there was something wierd goin on with the yen that day

sorry about that bro
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