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The Really Useless Thread

  • #134,481
  • Apr 30, 2015 11:54am Apr 30, 2015 11:54am
Quoting Pharm0r
*at dinner "hey have you seen what <insert exotic> has been doing? What do you think the future holds?" option 1: No I haven't checked that pair, let me bust open the 5 second chart on my mobile app real quick and tell you my general opinions. option 2: No I haven't checked that pair, let me bust open my weekly chart and give you a general opinion.
Who asks this at dinner?

Option 3: Bust open Teamviewer and pull up the charts on your PC.
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #134,482
  • Apr 30, 2015 11:57am Apr 30, 2015 11:57am
Quoting Mr Hatch
{quote} For the record: To waste more money much quicker, if you follow the very-low-tf-specialists without mastering the high timeframes. Serious question: Does the FF-trade-explorer depict unrealized P/L as positive/negative performance?
This was my initial thought, but to even place a trade on the mobile app would take more than 10 seconds, that's just market without tp or sl and knowing exacty the units. I don't see the utility at all.

I understand what magix means by not needing more than a D, or perhaps a mobile app at all, but at least a weekly/monthly could provide more utility than sub 1M...

in my opinion at least.

blatant cover for siphoning more money from people the way i see it
  • #134,483
  • Apr 30, 2015 12:09pm Apr 30, 2015 12:09pm
Quoting primejarvis
{quote} First let me tell u I Dont use any indicators on my chart .... 2ndly according to ur chart the thick lines are the main S/R ... Correct me if I m wrong and if I am right the resistance @1.0848 was easily breached ... My major points are near 1.16xxx ,1.20xxx and 1.25xxx ... If this levels are breached then I will say its a trend change otherwise its nothing but a corrections or retracement .... I hope it helps....
I put that whole yellow area in there as the possible range because that was where, in the past price spent many month inside it when it got there. The thick lines were places where price pivoted and retested the most at the edges of that range in the past.

I think it's a retrace. I don't think we're done with the downtrend. The only question is how far and how long. The retrace out of that area that began in 7/97 went on until 10/98 before it resumed the downtrend. That's along time to be shorting in the wrong direction even if it's moving counter to what you'd think it should from the macro picture.

Another interesting thing is that in the past when it got to this area it spent quite a long time inside it. More that just two months. And here it's just bounced right out. This bounce right out is a little suspect to me because it happened right at the month end, and contrary to what you'd think from the Fed and the data today. Somebody's going to a lot of trouble to stage this just right create a bullish engulfing bar on the monthly. So the question is why.
  • #134,484
  • Apr 30, 2015 12:18pm Apr 30, 2015 12:18pm
Quoting Mr Hatch
{quote} yadda, yadda... how do they think?
Trying to find from the couple of years .... But if a person never give up he/she will definitely reaches his/her goal ...
Re-Incarnated
  • #134,485
  • Apr 30, 2015 12:22pm Apr 30, 2015 12:22pm
Quoting primejarvis
{quote} So the whole scenario is this that the market makers or the so called big players don't give a damn where the S/R are ... if they really wants to breach the levels ... they will just do it .... from the last 3-5 years of experience in this play i have just learnt one thing " If you really want to earn money or create a handsome wealth ... just think like a big player " Try to get the tickets on the same train .... or stay out of it but don't mess with train.....
Quoting Mr Hatch
yadda, yadda... how do they think?
Quoting primejarvis
{quote} Trying to find from the couple of years .... But if a person never give up he/she will definitely reaches his/her goal ...
So, you learnt something you don't want to tell or you yourself don't understand yet?
  • #134,486
  • Apr 30, 2015 12:28pm Apr 30, 2015 12:28pm
Quoting Mr Hatch
{quote} {quote} {quote} So, you learnt something you don't want to tell or you yourself don't understand yet?
To be very frank I m still learning ...
Re-Incarnated
  • #134,487
  • Apr 30, 2015 12:29pm Apr 30, 2015 12:29pm
Quoting MissPips
{quote} I put that whole yellow area in there as the possible range because that was where, in the past price spent many month inside it when it got there. The thick lines were places where price pivoted and retested the most at the edges of that range in the past. I think it's a retrace. I don't think we're done with the downtrend. The only question is how far and how long. The retrace out of that area that began in 7/97 went on until 10/98 before it resumed the downtrend. That's along time to be shorting in the wrong direction even if it's...
Did you read Sisse's statement about the rate-trading-mode?
http://www.forexfactory.com/showthre...74#post8235574
http://www.forexfactory.com/showthre...82#post8235682
http://www.forexfactory.com/showthre...85#post8236985
  • #134,488
  • Apr 30, 2015 12:31pm Apr 30, 2015 12:31pm
Quoting primejarvis
{quote} To be very frank I m still learning ...
We all do, every day.
  • #134,489
  • Apr 30, 2015 12:34pm Apr 30, 2015 12:34pm
Quoting Pharm0r
{quote} This was my initial thought, but to even place a trade on the mobile app would take more than 10 seconds, that's just market without tp or sl and knowing exacty the units. I don't see the utility at all. I understand what magix means by not needing more than a D, or perhaps a mobile app at all, but at least a weekly/monthly could provide more utility than sub 1M... in my opinion at least. blatant cover for siphoning more money from people the way i see it
I don't see the utility of an online-feature on my loo selling me the toilet-paper I just used up. It's en-vogue, useful or not. Did you see the future IKEA-kitchen? They designed a table where you put your shopping bag and it tells you what you to cook of it. My mother would spank my ass...
  • #134,490
  • Apr 30, 2015 12:55pm Apr 30, 2015 12:55pm
Quoting Mr Hatch
My mother would spank my ass...
Inserted Video
"If The Fool persists in his Folly he will become wise." - William Blake
  • #134,491
  • Apr 30, 2015 12:57pm Apr 30, 2015 12:57pm
Quoting primejarvis
{quote} To be very frank I m still learning ...
It doesnt ever stop- nor should it. Less you be left by the roadside.

edit: damnit hatch. Just when I thought I said one thing worth while.
  • #134,492
  • Apr 30, 2015 1:02pm Apr 30, 2015 1:02pm
Quoting Mr Hatch
{quote} We all do, every day.
That's the phase of life .... Anyways goodnight guys and gals battery abt to die .... Catch you all tomorrow ...
Re-Incarnated
  • #134,493
  • Apr 30, 2015 1:49pm Apr 30, 2015 1:49pm
Quoting Pharm0r
{quote} It doesnt ever stop- nor should it. Less you be left by the roadside. edit: damnit hatch. Just when I thought I said one thing worth while.
Inserted Video
  • #134,494
  • Apr 30, 2015 2:01pm Apr 30, 2015 2:01pm
Quoting sisse
...and that was pretty much it for this month and session. Taking 1.121x mini target in the opening range from the FOMC and only leaving a tiny rest for the "just in case" to clear 1.126x/8x area [check]... but the move is pretty much over ...
...and ching ching ching ... just in time clearing final target a couple of ticks below 1.126x ...and sisse is FLAT in the euro for the M/W roll combo...

sisse
Pending conversations? PM for a chat...I am mainly in OTM now
  • #134,495
  • Apr 30, 2015 2:05pm Apr 30, 2015 2:05pm
Quoting sisse
{quote} ...and ching ching ching ... just in time clearing final target a couple of tick belows 1.126x ...and sisse is FLAT in the euro for the M/W roll combo... sisse
so basically you are expecting now that final leg down on euro to parity ? thanks for asnwer

very nice analysis...congratz
"only the strong survive"
  • #134,496
  • Apr 30, 2015 2:06pm Apr 30, 2015 2:06pm
Quoting Mr Hatch
{quote} Did you read Sisse's statement about the rate-trading-mode? http://www.forexfactory.com/showthre...74#post8235574 http://www.forexfactory.com/showthre...82#post8235682 http://www.forexfactory.com/showthre...85#post8236985
Yes of course I did.

I am trying to think for myself though. The Fed was hawkish, the US data was good today and the German data bad and the first thing it does is goes up, and bounces right out of that zone where previously every time it's hit it, it's spent 3-10 months and closes the month with a bullish engulfing (barring any last minute surprises) right on two big trendlines.

I have to take that seriously because you don't see that too often and most times, when you do it means something. Here's the monthly chart with all the engulfing bars highlighted. The ones I didn't put lines through were the ones where there was an engulfing bar in obvious conflict with the rest of the data. (i.e an up engulfing bar when the stochs were in overbought and after a long run up, or vice versa, even though some of these bars did work out.) So the ones with lines through them are a down bar when stochs are not in oversold or an up bar when stochs are not in overbought. Solid lines are show when a swing happened at least for the next month if not more, and dashed lines are fails.

Twelve times you got a swing and three times you got a fail.

(I'm still gonna short 85-95 for a scalp if it gets there near the roll and looks weak though.)
Attached Image (click to enlarge)
Click to Enlarge Name: bars1.jpg Size: 506 KB
  • #134,497
  • Edited 2:33pm Apr 30, 2015 2:18pm | Edited 2:33pm
Quoting MissPips
{quote} Yes of course I did. I am trying to think for myself though. The Fed was hawkish, the US data was good today and the German data bad and the first thing it does is goes up, and bounces right out of that zone where previously every time it's hit it, it's spent 3-10 months and closes the month with a bullish engulfing (barring any last minute surprises) right on two big trendlines. I have to take that seriously because you don't see that too often and most times, when you do it means something. Here's the monthly chart with all the engulfing...

Damn, why haven't we met a couple of years ago?

If you cut the chart you posted in 2 halves... what changed between the 2 parts? Is the current monthly candle a technical (bounce-)candle or a fundamentally influenced one? The FED didn't give a date to hike the rates, which equally means they've expanded the window to buy dollars for the moment the hike happens. Would we want to buy dollars at the current rate (or a fortnight ago), or at a discount? The numbers coming from the EZ just open the window a bit wider (for me), because it means that the EZ-version of QE will get expanded if numbers deteriote further <edit>: over time <edit end>, so the dicounting mechanism kicks in.

It's too much central banks this year... just my 2 cents.
  • #134,498
  • Apr 30, 2015 2:18pm Apr 30, 2015 2:18pm
Quoting Pharm0r
Oanda just updated their mobile app....to include 5-10-30 second charts....but still nothing higher than 1D. Useless.
Because they make money squeezing the poor naive retail newcomers, the gamblers and the minions and is nothing better than promote overtrading and gambling habits in unrealistic TFs....

I seriously doubt that any of the very very few and almost extinct retail HFT traders will use a mobile device to trade (its just commons sense) !!! and in the other side of the forest, traders like me that don't take more than a handful of trades in Forex a week, are a nightmare for retail brokers !!! (because they can't get much in commissions)....

The forex broker business is manage like a Casino/betting site. They need volume and impulsive traders to take +500 trades a week so they sell dreams, indicators, "you have to be in the market all time or you are loser", etc etc etc ...a 5s/10s/30s in mobile is the WAY to go ...ask the betting sites (well in the US they are mostly ban) in Europe and Asia they have been making a killer with their mobile apps allowing people to bet live on a fraction of a point/score/minute in a sport event etc...

Majors Tfs are not worth for them at all thats why the crappy MT4 and friends have such a poor standards for proper trading but a ten million Bs tools for gamblers ...(sorry ranting again about them...but you get the point)...

In any case, massive profit taking at 1.126x as expected and tracking KEY 1.121x for the M roll....

sisse
Pending conversations? PM for a chat...I am mainly in OTM now
  • #134,499
  • Apr 30, 2015 2:31pm Apr 30, 2015 2:31pm
Quoting hoom
euro is pretty much done with the swing low from 1.1xx handle and now trading water till ECB ..... a breather above 1.07x is norm , .... , at least few ticks lower , positionning pre ECB is crucial for next swing , ....else 1.077x and above would make the leg up to the highs more viable through 1.11x handle for the rest of the month . 1.127x is a level where I would look before parity in most cases . let's wait & see how it plays next few sessions for confirmation. hoom
missed by few before monthly roll ... it's gonna be interesting to see how it plays from these levels til actual hikes pricing would begin ...

hoom.
Get Rich or Die Tryin
  • #134,500
  • Apr 30, 2015 2:50pm Apr 30, 2015 2:50pm
Quoting sisse
{quote} ...and ching ching ching ... just in time clearing final target a couple of ticks below 1.126x ...and sisse is FLAT in the euro for the M/W roll combo... sisse
I have EU going for 1.2, UJ 103, gold 15xx... What fundamental reasoning could lie behind such movements?
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