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The Really Useless Thread

  • #133,861
  • Apr 17, 2015 6:12am Apr 17, 2015 6:12am
Quoting KzX
{quote} I know that it's planned in case of JPY but I won't share it here. I don't know about other currencies.
Then what use are you here? Why post at all?
  • #133,862
  • Apr 17, 2015 6:20am Apr 17, 2015 6:20am
Quoting sisse
{quote} It means what it means. Price run stops at the intraday highs. I don't know if its hunt or not hunt, market simply clean the intraday highs and trade above it sweeping any soft shorts hands from 1.081x... sisse
Thanks sisse, honestly it's just all new terminology for me.
  • #133,863
  • Apr 17, 2015 6:24am Apr 17, 2015 6:24am
Quoting sisse
{quote} It means what it means. Price run stops at the intraday highs. I don't know if its hunt or not hunt, market simply clean the intraday highs and trade above it sweeping any soft shorts hands from 1.081x... sisse
Quoting ws121
{quote} This might a very long comment
Did my long post make any sort of sense to you? or did it just made you laugh at my nonesense?
  • #133,864
  • Apr 17, 2015 6:26am Apr 17, 2015 6:26am
Quoting ws121
{quote} {quote} Did my long post make any sort of sense to you? or did it just made you laugh at my nonesense?
Now isnt the time friend, it's an important day with news in an hour which should set monthly levels. Perhaps try again this afternoon
  • #133,865
  • Apr 17, 2015 6:34am Apr 17, 2015 6:34am
Quoting ws121
{quote} {quote} Did my long post make any sort of sense to you? or did it just made you laugh at my nonesense?
Nope it didn't.

Markets are very active across the board and need a break before the news so we could talk later about that ...

sisse
Pending conversations? PM for a chat...I am mainly in OTM now
  • #133,866
  • Apr 17, 2015 7:04am Apr 17, 2015 7:04am
Quoting sisse
{quote} Nope it didn't. Markets are very active across the board and need a break before the news so we could talk later about that ... sisse
Understand, sorry
  • #133,867
  • Apr 17, 2015 7:11am Apr 17, 2015 7:11am
Here we go important US reports coming. Both inflation and macro numbers (consumer sentiment) are fresh and key so play extend beyond the NY opening range to the weekly close.

On the fundamental side. Expecting inline numbers in both fronts to confirm that the bad round of US numbers were just a small bump in the road and inflation is under control for hikes by the summer.

On the technical side. Only an overshoot in inflation and/or an overshoot in sentiment will caught the markets in the wrong foot and will trigger sharp short term corrections in dollar and equities. All other plays they will just confirm the current outlook.

For the actual news flow. Complex flow expected as there are 4 way combination and important weekly roll in play to set the low of the month with. Range for the session is wide and extends 1.071x to 1.087x.

  1. The main play and most probable one (1.078x ---> 1.087x) comes with inline in both fronts with soft trigger line at 1..082x
  2. A bullish play (undershoot in inflation + undershoot in consumer confidence ...or a +/- combination between both) direct play to 1.087x with max extension 1.096x in a clean sweep move (bears finally capitulating intraday)
  3. The less probable play comes (overshoots in both ... or a similar combination) with a micro zigzag move as high as 1.087x with flip zone at 1.082x before selling off to 1.071x to settle the weekly roll around there.

GL all trading the last sessions of the week...

sisse

Pending conversations? PM for a chat...I am mainly in OTM now
  • #133,868
  • Apr 17, 2015 7:23am Apr 17, 2015 7:23am
Quoting sisse
Here we go important US reports coming. Both inflation and macro numbers (consumer sentiment) are fresh and key so play extend beyond the NY opening range to the weekly close. On the fundamental side. Expecting inline numbers in both fronts to confirm that the bad round of US numbers were just a small bump in the road and inflation is under control for hikes by the summer. On the technical side. Only an overshoot in inflation and/or an overshoot in sentiment will caught the markets in the wrong foot and will trigger sharp short term corrections...
Thanks sisse, GL to you too.
  • #133,869
  • Apr 17, 2015 7:55am Apr 17, 2015 7:55am
enjoy the weekend...taking the boy to the country, need to harvest some olives, he could use the fresh air, and maybe even see how a honest days pay is earned...........gl, PTL..
Look Sharp/Trade Tight
  • #133,870
  • Apr 17, 2015 8:01am Apr 17, 2015 8:01am
Quoting PayTheLimit
enjoy the weekend...taking the boy to the country, need to harvest some olives, he could use the fresh air, and maybe even see how a honest days pay is earned...........gl, PTL..
Thanks PTL, have good one too.
  • #133,871
  • Apr 17, 2015 8:02am Apr 17, 2015 8:02am
Quoting PayTheLimit
enjoy the weekend...taking the boy to the country, need to harvest some olives, he could use the fresh air, and maybe even see how a honest days pay is earned...........gl, PTL..
Nice, happy weekend to you too! Maybe he will be an olive oil farmer ...
Fix up, trade sharp ...
  • #133,872
  • Apr 17, 2015 8:14am Apr 17, 2015 8:14am
Quoting PayTheLimit
enjoy the weekend...taking the boy to the country, need to harvest some olives, he could use the fresh air, and maybe even see how a honest days pay is earned...........gl, PTL..
Amazing, enjoy. Never had the pleasure- all though I've harvested raspberries. Evil little plants.

Week is over- bring on the questions!

First one- Sisse: who is/was your mentor when you first started trading (and possibly even today)?
  • #133,873
  • Apr 17, 2015 8:14am Apr 17, 2015 8:14am
Quoting kenfen69
{quote} I'm guessing... You like drums...potential faves are Animal...and Keith Moon? If not...look them up...check avatar...and meaning of Useless.
Not really, I don't like drums, I love piano and violin, but I love the Muppet character, Animal

Yes, I love animals, mainly dogs, not crocs (yes, it's not an animal, it's a reptile).

Manha Manha
  • #133,874
  • Apr 17, 2015 8:23am Apr 17, 2015 8:23am
Here we go for NY and the second.round of news. All of eyes on 1.078x for the news combo play....

sisse
Pending conversations? PM for a chat...I am mainly in OTM now
  • #133,875
  • Apr 17, 2015 8:31am Apr 17, 2015 8:31am
Quoting PayTheLimit
enjoy the weekend...taking the boy to the country, need to harvest some olives, he could use the fresh air, and maybe even see how a honest days pay is earned...........gl, PTL..
don't take him too close to the cows
  • #133,876
  • Apr 17, 2015 8:40am Apr 17, 2015 8:40am
Quoting ws121
{quote} This might a very long comment but it holds lots of questions in my mind and any help and response would be much appreciated. I'm more interested in the hecking structure of the market at the moment. SO, one of the first principles (rules) I learned in trading is that market makers never use market instant execution,......
I chopped the quote because it was simply too long to quote. Although not directed to me- these are my thoughts- generally

Do not assume that you know what market makers do and don't do. You are not one- you do not know one, so if you assume you know what they do, you are automatically putting yourself at a disadvantage. It's best to assume that MM and big money alike, use both market and pending orders. Example, Goldman Sachs I imagine uses predominately market orders. They are on the phone all day taking orders. There are also obviously pending people and "big money" would set (1.3400 being one, 1.00 being another....the CHF cap...etc..)

In a financial crisis, or a nuclear melt down....do you think no banks took market orders? How do we know? You don't know and you cant know- so it's best to assume they use both, that way you are not at a disadvantage do to your own mind-constraints.

The question you should be asking yourself...is does it matter? You have no control over it. You only have 100% control over how much you lose, there is not a single other thing in the market (including how much you win) that you can control. That's where you're focus should be.

It's possible to see the flows, as you suggested. It's possible to see where big orders can be, or where stops can be run. I call it plugging in. When you watch a chart day by day for months you get a feel for it, you notice the patterns, you can see what's likely...and you can plan or it or trade it. This is the edge people gain as they get experience. This is the reason most people fail at first, they simply haven't been around long enough for the patterns to develop in their head- that and some just don't possess the grey matter or wont put in the time.
  • #133,877
  • Apr 17, 2015 8:45am Apr 17, 2015 8:45am
Quoting lux_interior
{quote} There's no global conspiracy to plan market moves. The desks do have strategy meetings before they take over each morning. The advantage they have is that the bank is in constant touch with their clients and the account managers will brief them as to what orders (flows) are expected. So they might know a few days in advance that there will be future demand for eg. dollars
Good response, this one and the one above it
  • #133,878
  • Apr 17, 2015 9:27am Apr 17, 2015 9:27am
Quoting USD-Bear
{quote} yes watching too, but still too weak for me, correlating with Dow and S&P500 don't trust it yet, got myself a line at 11.618 which I would trust but that's far away....
nearing faster then expected....
DAX H4:
Attached Image (click to enlarge)
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Don't be a hero. Don't have an ego. Always question yourself
  • #133,879
  • Apr 17, 2015 9:34am Apr 17, 2015 9:34am
Quoting Shunyi
{quote} 399x or 799x?
1.3993
those who can, do. those who cant, talk about those who can
  • #133,880
  • Apr 17, 2015 9:49am Apr 17, 2015 9:49am
Bulls starting to cough after the slightly better than expected news. Losing 1.076x with Europe going home will complete the leg 1.071x x the roll. To the other side nothing to see with 1.078x holding...

sisse
Pending conversations? PM for a chat...I am mainly in OTM now
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