The Really Useless Thread

dirty 30 pip retrace... stop hit on shorts from mid 220's entry...

need to get ready for work... later...

Last TA session of the year with NY. Yearly/Quarterly/Monthly/Weekly and Daily rolls in play. Most of the time (if not always) we should have the yearly close range defined by today, leaving just air and newbies for the actual calendar close (Monday) but this time fiscal cliff is leaving everything wide open. Last chance to avoid going over the cliff this Sunday/Monday which will make the markets act like a pinball machine. Window dressing also "expires" leaving the bids half naked in equities.

All markets except gold in very well defined wide, volatile, and thin ranges intraday at the highs. Nothing new in the last 10 days. Hard to call the yearly rolls which such a big FA in play until last minute in thin markets. TAwise same trades, same all, with all markets in launching platforms to break higher in the swing sides aligned with FA but not without fiscal cliff cleared..... while short term are all with screaming pullbacks/sell candle signals ready to act on Washington failing to delivery.

Only tracking ES and Euro in the next 48h of trading.

1.334x wide open in the euro with 1.317x holding the roll and + positive fiscal cliff leaving lots of air to 1.359x for later. A failure on the fiscal cliff will easily and very fast open 1.312x and 1.302x with a breach intraday below 1.317x. 1.297x marginally open for the next few hours. A yearly close below is the only technically level that will cause severe and real collateral damage to the main mid term uptrend in the euro....

ES a lot easier to trade. Fade 1398x for a continuation to 148x with +fiscal cliff news. Take the break down on a roll below the same level to 133x with Washington doing nothing.

In my case, paying more attention to the wires than the charts before making the final move as the plays and triggers are crystal clear to both sides. Like always given priority to the FA / TA move first.

GL all trading the last and key session of the year.

sisse

thanks for your view sisi!
Thinking about the case where parties want to play hardball to the extreme eg agreement comes in after market hours.
Todays close at or below your 1398 or my 1387 and opening next week at 1440 or above.
Just a feeling, but considering longs before close if it happens....

Based just on experience I have the same feeling too. However, I wont play it right on the close today. It is Yearly/and below close with very thin markets in a very long weekend with a massive uncertainty in play ...not for my taste but I definitively see your trade.

The main (and is massive) risk is a no deal confirmation with loud shouts and soap opera during the weekend that would make (very very possible in that scenario) the ES gap 20 or more points down on the open on Monday...My account and most traders around don't have the stomach or risk capital for that....

Let see how it goes. NY opening range attempting to form a intraday floor.

sisse

yes it's risky, but in the case, market fears should be fully discounted at the close which makes it less risky....
ah well, we'll see

I don't think so ...IMHO is not a good idea to underestimate the power of political uncertainty...If there is one thing markets really hate is politicians jerking around.... in any case GL and as you said we'll see ...

Opening range completed forming a intraday feeble bottom , without tweets or etc day is over across the board in chop. Nothing to see but track the wires....

sisse

money money moooney

where where wheeere?

here here hereeee ~

Europe "closing" year at the highs holding last breakouts in daily sitting almost by the tick on them for the weekly close. In normal times R:R is fantastic TA-wise for continuation but sadly fiscal cliff is in full motion and risk and uncertainty over this weekend make all trades extremely risky due to potential v. large gap down. Not for my taste not for my risk appetite so just a reference for what is about to come...

All other markets trading chop as expected after NY opening range...charts off, wires on ...nothing to see until further tweets and official news on the US front.

A follow up post for the RUT awards 2012 with the main nominations for the threads category.

2. Threads

General

1. Best Thread Of The Year
2. Worst Thread Of The Year
3. Useless Thread of the Year
   Interactive Forums / Trading Systems /Trading Discussion
4. Best Thread Of The Year

Nominations coming in next post ... any suggestion, nomination, etc etc etc etc is more than welcome....
sisse

RUT awards 2012 and the nominees for the threads category are:

2. Threads

General

 

1. Worst Thread Of The Year:
   1. Planetary Cycles Trading (EUR/USD): A collage of esoteric concepts with a bit of astrology and very "unique" geometric elements ...provides a few good laughs but it gets scary when you realize that some of the posters are actually been serious about it.
      A quick quote from the thread[quote]Agree that it is crucial to look at charts in detail and manually casts when aspects commence a trend and when its effect ends... what i see is generally geo aspects start to influence market 45-50' before exact aspect and finishes halfway of this... For helio aspects it is some shorter... Do you have any experience or observation in this manner?[/quote] ... just brilliant.
   2. Technical Analysis Fallacy: An endless loop of non-sense with the least funny comments and posts across FF. I have tried a dozen times to read and I cannot pass the 1st page .... If you can find 1 post with market or trading information (or a good joke) please let us know ...
      A quick quote from the thread [quote]the equities markets are not free markets.
      they controlled by the issuing parties.
      so i not in that markets, so i cannot help with any advise. Sorry.
      Only means make real money from there maybe start your own profitable company and list it.
      after IPO yo should be filty rich and retire.
      regards[/quote] wtf???
   3. 14 Year Old Forex Trader's Lessons: This is one of my favorites. The 10 year old kid in primary school who joined FF to"learn" from others, suck a lot of posters into the game, a few months later he became THE authority in trading with not even with the legal age to open a trading account and started preaching across FF... as expected few months later, opened his own forex related signal services and now is on the commercial section.... Whatever the case, content-wise one of the most misleading, dangerous, jumpy (from system to system) and poor technical thread across FF.
      A quick quote from the thread [quote]USDZAR Live Call to Get Long @ curr market prices of 8.9331 with a -25 pip stop and open TP (perhaps 50-70 pips by tommorow would be great) Falling to a 1/3rd of time and price + the 1x1 ; playing the uptrend here. "oversold" stoch reading is a plus for this trade.[/quote] ...eh eh eh isn't 25 pips stop ???? oh my bad sure we all have 1 pip spread for USD/ZAR in the middle of Asian session ...something is not right ...

2. Useless Thread of the Year
   1. Cesarnc's market talk, gossips, rumours & fun: Carlos rules the thread. Some respected names keep the thread alive with some good quality trading content but the real deal in there is in the rest. Plenty of pictures, videos and jokes for every taste but definitely a well deserve spot for a nomination in the useless thread of year:
      A quick quote from the thread: "[quote].......this is more upseting than roro's art for my wife........ she is next to me saying, you bether leave me for a beutifull blondy instead of a homo..........[/quote] ...pages of pages of quality useless content.
   2. What kind of music you hear while you trade?: The definition of a useless thread. I cannot think a poster in FF that haven't gone there at least once. Definitively one the best useless assets in FF....
      A quick note from the thread: [quote]Euro climbing the - Stairway to Heaven.. [/quote]....a traditional FF thread that deserves some recognition.
   3. The Really Useless Thread: Well the most useless traders in FF hang around there. Lots of useless comments and post for every taste from the most boring useless FA with sisse to the now famous dancing Gifs from Kill... if you don't find something useless in this thread ...you haven't been in FF for long ...
      A quick quote from the thread [quote]I am pleased to announce the now "traditional" and most influential (not really is the 1st time) 2012 RUT awards are open for nominations and as pledged to Ken will be announced during the next few days until the end of the year....[/quote] can it get more useless than that ...

3. Best Thread Of The Year: Open until the winners are selected
4. Interactive Forums / Trading Systems /Trading Discussion thread: Coming later

sisse

right on the money there mate

dems / reps still in deadlock over budget negotiations... i heard a whisper that 31st is only a soft deadline... can see this saga dragging out...

meep meep...

do we got a category for funniest post???

i think i found a winner...

kennnffffyyyyyy!!! where for art thou???

one more shift then 3 days off, whoop! whoop!!

where the fac is everyone btw?

g'nite and if there's anyone still out there listening to this, just remember that you are the resistance...

RUT awards 2012 and the nominees for the Best threads (according to popularity not necessarily by taste) category are:

2. Threads 2

1. Best Thread Of The Year in Interactive Forums:
   1. EurAnalysis: Despite been caught in the wrong side of the directional bias this year (the perma bears in FF), this thread provides quality content and attract some low profile excellent posters in FF. PipTrapper does a fantastic job moderating the thread, keeping it most of the time on topic with a balanced open space for different views and opinions. Like most of the time, when a thread is managed by only 1 person, there are lot of useless cheerliding from newbies but it usually stays as background noise when some FA post come around and rules the thread from some pages. Without a doubt, one of the few "endangered" places that Fundamental issues and major economic reports about the Euro/USD pair can be discussed in FF.
      A quick quote from the thread[quote]Friday proved to be an utter failure for the bulls despite the anticipated USD selloff from month & quarter end flows. As such, 1.2950 resistance held extremely well, after which risk-off sentiment managed to break back into the falling channel coinciding with a break below the 1.2888 daily pivot. The end of the day closed off with consolidation after a test of strong 1.2825 support. Weak Chinese PMI data last night helped the pair re-test and break below 1.2825 but it wasn't enough to break and hold below the all important...[/quote] ...a textbook of a proper trading post .
   2. EURUSD: The never ending thread that always find a second air when is fading. Always pumped by the new influx of newbies in this business and the best and only place to fish for your first voucher and get your feet wet in FF. Despite being infested with trolls, brokers posters, spammers and internet markets is still the heart of FF. It has long passed its peak (it used to get +1000 viewers !!! on a ECB conference day) with most of the quality posters abandoning ship early in the year but there are always a few serious and V+10 posters that hang around. Finding a quality post can be as hard as finding a good entry when NFP is released: very hard and you need to be very fast before it gets lost in pages off noise but you can still find some hidden gems. A deserve nomination not because of quality but because its popularity and almost monopoly until last year of readers in the Interactive Section.
      A quick quote from the thread [quote]If a senior member identifies someone with multiple usernames, that senior member can temporarily suspend that person. It does not matter what the infraction is, a senior member can only temporarily suspend someone for the information to be reviewed by a FF administrator who then makes a final decision. So the short answer to your question is no, it does not result in an "automatic" ban.......[/quote] The world can be ending, Wall Street collapsing, the FED announcing QE while Greece is abandoning the euro, market moving 1000 pips up and down in 2 minutes...it doesn't matter, this thread will continue with pages and pages of completely unrelated info at exactly the same time is happening until some newbie will interrupt the non sense and announce with pride a 5 pip winner with a 1 pip stop .... Definitively a fix asset in FF.
   3. The Really Useless Thread: By far the best quality/posters ratio in FF. Some serious and skilled traders hang around mostly a few minutes a day for a good laugh and chit chat but man when they talk markets and trading you better listen as there are plenty of quality TA and FA information for every taste and every timeframe around. Mostly quiet during active market hours but busy before key events and moves and after hours. That just said it all....
      A quick quote from the thread [quote] I'm not going to say this thread is "the best" because that's a pretty difficult thing to quantify, but...pound for pound...this is still by far my favourite (and pretty much only) place to hang in "The Factory"...and that's because of everyone that posts here. Great group of people. A lot of fun...a lot of knowledge...a lot of history, at this point.[/quote]

2. Best Thread Of The Year in Trading Systems:
   1. Sonic R. System
   2. THV system, final edition
   3. Trading Made Simple
      
      The contest in this category was declared void given that most of the threads reviews didn't cut the minimum level to be judge. This is broker's and fortune's tellers paradise in FF. Most threads are a cross between PlayStation meet Nickelodeon thread names and introductions with encyclopedic size "rules", indicators, exceptions and bastardization of MT4 indicators that in some cases make look Wikipidia index very small. Most of threads are textbooks examples of why this business has such a low rate of success.

3. Best Thread Of The Year in Trading Forums:
   1. Price is everything: A dying thread that has been losing shine when most of the very vocal and self-confident group of sometimes obsessive traders and the very volatile thread starter abandoned ship to open a more exclusive VIP group outside of FF. If you don't let the aggressiveness of the the early pages scare you, you can find plenty of quality TA nuggets and good charts. Worth a reading on the TA side for those not familiar with the basic Support and Resistance concepts but definitively this is the last year this thread will survive.
      A quick quote from the thread[quote] its neither consumption of supply nor demand, its a pendant/triangle pattern nothing more nothing less.[/quote] ...Lots of charts with basic but well defined TA principles are always a plus for any thread. Sadly, thread was only active the 1st months of the year....
   2. Spider's Den: Tarantula rules the thread. Started with some flashy comments and quality trading post but it has fade rather quickly when the OP burnt out early in the summer. Like most personal threads, some cheerleading but not too much, some good poster hanged around for a while but they abandoning ship due to the lack of interactions. A one man thread that before he burnt out from FF used to apply very strong TA and candlestick principles in his charts.
      A quick quote from the thread [quote]If u draw s/r lines manually u could see strong reactions to 2500-2510. Put a horizontal line there and connect it to the ascending TL starting from 24th of July. That is when the uptrend has started. The reason I dont see 2440 as important is there is no vortex/pinnacle there. Its 2500-10 where it shows a vortex so there should be a compression(consolidation) when we get there........[/quote]
   3. Charts on Drugs or works of Art?: Just brilliant. One of my favorite threads in FF. This thread need to be a sticky post. In urgent need of some extra contributions. It should be a mandatory stop for all new traders of HOW chart's shouldn't look.
      A quick quote from the thread [quote]If the chart is on drugs then the trader must be!
      
      Find and post the most trippy chart on FF
      
      Here is one off another forum:...[/quote]
      
      I just like this thread

4. Best Thread Of The Year: Open until the winners are selected
5. Any other nominations open for the next few hours
6. @ Fib: do we got a category for funniest post??? Yes we do now...nomination accepted

sisse

very good mate , keen observations as usual

Interesting stuff- RUT awards. Thanx for support, be sure I will keep doing the analysis with pinpointing good entries, exits etc.

Everyone with a good attitude are welcome, and I will always strive to help each everyone of you. Mutual understanding is the synergy that works like a charm.

HAPPY HOLIDAYS AND HAPPY NEW YEAR TO EVERYONE IN THE THREAD!

T

P.S. Need to add 1 more thing. The reason the thread doesnt have so many interactions is probably due to the fact that I keep posting entries and exits along with intraday charts so many come to the thread looking for entries and exits with exact SL.

I know that traders feel safe when we are on the same side, but I still encourage everyone to keep posting so I can discuss their views and charts even if they differ.

Bottom line,

Money, and Time return is what counts.. everything else is an entertainment.

Happy New Year mate.. and Сретан Божић [07 Jan 2013] ..

I hope I'll see you in May/June 2013 in Belgrade