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The Really Useless Thread

  • #60,141
  • Feb 23, 2012 4:31pm Feb 23, 2012 4:31pm
Quoting attila
Simple: Channel edges are targets NOT entries. When you get to a channel edge never assume a reversal but assume a retrace.
Jawn was sayin the same thing about most 00 numbers... when it gets there wait for the retrace then buy or sell said retrace and catch the breakout
  • #60,142
  • Feb 23, 2012 4:32pm Feb 23, 2012 4:32pm
This would certainly help drop the EU
  • #60,143
  • Feb 23, 2012 4:34pm Feb 23, 2012 4:34pm
Quoting Wulfgar
Jawn was sayin the same thing about most 00 numbers... when it gets there wait for the retrace then buy or sell said retrace and catch the breakout
Pretty much, but as always there is not ONE thing unfortunately. If it were then everybody would do that ONE thing and there would be no Market. Nothing, nothing will help except screen time. I've been behind these screens for 12 to 16 hours/day for several years now. And you know what? It's not enough..
  • #60,144
  • Feb 23, 2012 4:34pm Feb 23, 2012 4:34pm
Quoting attila
I kept on yelling and screaming candles don't mean shit. They don't mean shit when it's ranging, and don't mean shit when it's running. They only mean shit when it's reversing, but you only see them after the fact.
Quoting pkimnyc
Long at 28. risking 20 pipers.
Quoting pkimnyc
4 consecutive rev bars. 1 hr.
This was at the range.
  • #60,145
  • Feb 23, 2012 4:35pm Feb 23, 2012 4:35pm
Quoting fxjawn
well at least he has some decent usable information.....

i can see where he goes off from though bc he prolly deals with retards all day..

problem is you have to be able to read the market ranging, trending, crap, relentless...

sad thing is u either got it or you dont it cant be taught... so u either refine your own skills into something profitable or its a lost cause
ya i only have day 3 and he hints at having an actual way to tell with 90+% accuracy what is a viable tradeable reversal on an intraday/swing basis... something to do with counting real moves from peaks and recognizing the characteristics of when the consolidation zone is setting up for a reversal/deep retrace or a continuation

i havent quite been able to figure it out....


But i did go out and buy a shitload of diet coke
  • #60,146
  • Feb 23, 2012 4:37pm Feb 23, 2012 4:37pm
Quoting pkimnyc
This was at the range.
I'm glad it works for you. I do look at them despite to what I'm saying here. I have 3 criterias (one of them are candles, yes) for entry and 2 for exit.

Candles on their own mean what I said: jack shit.
  • #60,147
  • Feb 23, 2012 4:37pm Feb 23, 2012 4:37pm
Quoting attila
Pretty much, but as always there is not ONE thing unfortunately. If it were then everybody would do that ONE thing and there would be no Market. Nothing, nothing will help except screen time. I've been behind these screens for 12 to 16 hours/day for several years now. And you know what? It's not enough..


ive heard vets on here and in other places say similar stuff... like "Unless u have been profitable for 25 str8 years, you are still a rookie"
  • #60,148
  • Feb 23, 2012 4:39pm Feb 23, 2012 4:39pm
twitter is starting to blow up with all the talking heads blabbing about how they are setting nets to catch the EU short around the 3500-3700 range...


on that note im off to my real job to make more money to drop into my endless abyss of a forex accnt


later guys
  • #60,149
  • Feb 23, 2012 4:40pm Feb 23, 2012 4:40pm
Quoting Wulfgar


ive heard vets on here and in other places say similar stuff... like "Unless u have been profitable for 25 str8 years, you are still a rookie"
It's not THAT bad, but it does take years. I am not out of the woods myself tbh...
  • #60,150
  • Feb 23, 2012 4:41pm Feb 23, 2012 4:41pm
Quoting attila
I'm glad it works for you. I do look at them despite to what I'm saying here. I have 3 criterias (one of them are candles, yes) for entry and 2 for exit.

Candles on their own mean what I said: jack shit.
Key thing to candle reading is you need to know when not to apply them.
  • #60,151
  • Feb 23, 2012 4:42pm Feb 23, 2012 4:42pm
Quoting pkimnyc
Key thing to candle reading is you need to know when not to apply them.
And THAT my friend is where art comes in.. Yes. I find inside bars one of the most reliable. If it's a spinner, even better..

I've been fucked by pin bars more than I would like to admit..
  • #60,152
  • Feb 23, 2012 4:45pm Feb 23, 2012 4:45pm
Quoting Wulfgar
ya i only have day 3 and he hints at having an actual way to tell with 90+% accuracy what is a viable tradeable reversal on an intraday/swing basis... something to do with counting real moves from peaks and recognizing the characteristics of when the consolidation zone is setting up for a reversal/deep retrace or a continuation

i havent quite been able to figure it out....


But i did go out and buy a shitload of diet coke
only way to tell if your going to get continuation , reversal or consolidation is spending thousands of hours behind the screen and getting the experience bc until your can read the breath of the market and get the feel for whats going on and read the true sentiment and be able to sense sentiment reversals then its all bullshit..

thats a terrible way to explain it but i dont know how to explain it..

for example you would never want to fade the eu doing this right now but it could all change 10 minutes from now...
  • #60,153
  • Feb 23, 2012 4:46pm Feb 23, 2012 4:46pm
Quoting attila
And THAT my friend is where art comes in.. Yes. I find inside bars one of the most reliable. If it's a spinner, even better..

I've been fucked by pin bars more than I would like to admit..
Yes, if you take trades based on every pins, you get fucked.
  • #60,154
  • Feb 23, 2012 4:48pm Feb 23, 2012 4:48pm
there is nothing to figure out no special patterns, indicators no nothing its just a matter of sitting behind and screen and figuring it out alone with nobody else bc your way is not gonna work for the next guy

anyways im pissed and my brain hurts

.
  • #60,155
  • Feb 23, 2012 4:48pm Feb 23, 2012 4:48pm
Just open a 5 min chart and look at it. What happened? Went up, consolidated, went up again, consolidated again.. several times. Why would I short here? What are the chances it will go down from here and not do another up and consolidate some more??? Let alone that we broke all the lids in the way...
  • #60,156
  • Feb 23, 2012 4:49pm Feb 23, 2012 4:49pm
Quoting fxjawn
there is nothing to figure out no special patterns, indicators no nothing its just a matter of sitting behind and screen and figuring it out alone with nobody else bc your way is not gonna work for the next guy

anyways im pissed and my brain hurts

.
So true.
  • #60,157
  • Feb 23, 2012 4:49pm Feb 23, 2012 4:49pm
Quoting attila
Just open a 5 min chart and look at it. What happened? Went up, consolidated, went up again, consolidated again.. several times. Why would I short here? What are the chances it will go down from here and not do another up and consolidate some more??? Let alone that we broke all the lids in the way...
fak look at my post im not trying to short it.... thats just what i was sayhing too lol
  • #60,158
  • Feb 23, 2012 4:53pm Feb 23, 2012 4:53pm
sometimes the bastards just give up and let her drop and shit snowballs and ppl just start to take profit... u just have to be able to see that and be there to catch it... for now she is still grinding...

30min form now could be a diff stopry...

crazy asians
  • #60,159
  • Feb 23, 2012 4:59pm Feb 23, 2012 4:59pm
Quoting fxjawn
fak look at my post im not trying to short it.... thats just what i was sayhing too lol
oh I know. Just saying the same thing as you did.
  • #60,160
  • Feb 23, 2012 5:06pm Feb 23, 2012 5:06pm
There's a big clusterfuck exactly where we are at 3370. If it goes through, expect 3400.
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