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The Really Useless System 25 replies

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The Really Useless Thread

Quoting chester123
{quote} Sisse can you more pls explain this part "If this is what I think is (massive clearing of longs) ...we are witnessing the unlock of the floodgates to the down side...." Thank you
Large long hands are clearing for the portfolio rebalancing at the end of the month. Basically if they clear longs, the floor (in the 1.08xx handle) will be naked and unprotected so a next test will blow it for a couple of hundred ticks non stop...

We'll see in a few...

Quoting FxMaximus
{quote} Sisse, you still holding short EUR/USD? Many have gone to change their under pants.... ahem! I am short and adding MORE short EUR/USD.
Of course. why should I flop?...We have been trading the same range and same levels for the last few weeks and I don't see a reason to clear a safe hand.

I am actually tempted to top up shorts 1.108x (the part of the short term swing I cleared on the test 1.096x early this week)but that I will play it intraday with london going home ... for now just sitting tight and tracking the open...

sisse
Pending conversations? PM for a chat...I am mainly in OTM now
Quoting Banzaisky
Does anyone here know what just happened - I can't find anything
http://www.bls.gov/news.release/eci.nr0.htm

Please note that the percentage of retail/uncorrelated/uninformed shorts increases by the minute, despite the price going up...

k
Quoting chester123
{quote} http://www.bls.gov/news.release/eci.nr0.htm
I doubt it was enough for this move ....

Quoting kprsa
Please note that the percentage of retail/uncorrelated/uninformed shorts increases by the minute, despite the price going up... k
I doubt there is any small hands holding shorts after a large clean sweep like this ...

sisse
Pending conversations? PM for a chat...I am mainly in OTM now
Quoting Banzaisky
Does anyone here know what just happened - I can't find anything
as I understand, if the Employment cost showed 0.2% not 0.6% that's mean no inflation, and that's mean no rate increase ....
Quoting sisse
{quote} Doubt it was enough for this move .... {quote} I doubt there is any small hands holding shorts after a large clean like this ... sisse
I didn't think so either
Free speech is an oxymoron
Quoting sisse
{quote} I doubt it was enough for this move .... {quote} I doubt there is any small hands holding shorts after a large clean sweep like this ... sisse
I guess you right. Itīs pretty marginal report to cause "NFP reaction" even though we have higher FEDīs focus on labor market. It seems to be just a trigger of something much bigger. Lets just consider gold - it went through the whole 10-day long range in almost "no time".

Quoting sisse
{quote} Large long hands are clearing for the portfolio rebalancing at the end of the month. Basically if they clear longs, the floor (in the 1.08xx handle) will be naked and unprotected so a next test will blow it for a couple of hundred ticks non stop... We'll see in a few... {quote} ... sisse
Hopefully this is the reason as it would be great news for the bears. Thank you for the explination.
Hey Guys,

I have been reading this thread for a couple of weeks now. Thanks ALL for sharing your opinions and skills.
I have just joined the communauty today, will be glad if I can share too. All the best !
What would the odds be that they will make a run for the 1.1450 area?, as thats really the most interesting area as I see it (easy to load large size shorts above there)
Quoting medvic
{quote} as I understand, if the Employment cost showed 0.2% not 0.6% that's mean no inflation, and that's mean no rate increase ....
There won't be a hike anyway LOL
Free speech is an oxymoron
Quoting sisse
{quote} Large long hands are clearing for the portfolio rebalancing at the end of the month. Basically if they clear longs, the floor (in the 1.08xx handle) will be naked and unprotected so a next test will blow it for a couple of hundred ticks non stop... We'll see in a few... {quote} Of course. why should I flop?...We have been trading the same range and same levels for the last few weeks and I don't see a reason to clear a safe hand. I am actually tempted to top up shorts 1.108x (the part of the short term swing I cleared on the test 1.096x early...
Hey sisse, Never had patient to hold my positions like this. First time in history of my trading.
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Intraday only.
I received this email from F X C M

Quote
Dear Client,

Margin requirements will be adjusted after market close on 31 July, 2015. Margin requirements (per 1K lot) at FXCM are determined by taking a percentage of the notional trade size plus a buffer to help alleviate fluctuations.

They only ever send such emails when they are expecting heavy volatility.

It makes me wonder what they are anticipating next week...!
well, good day today, another one shorting at the top.
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Intraday only.
Quoting navk
{quote} Hey sisse, Never had patient to hold my positions like this. First time in history of my trading. {image}
Low liquidity, mid term compression range about to explode, it happens once or twice a year so ...enjoy mini swinging in H1 spikes as the range is wide enough to have a taster on how it feels and how to manage real swings ...

Keep up the good work. The longer you get use to manage longer trades, the most proficient you will become in trading ...even if you start in h1 ... after a while you wont regret making the step forward ...and prolly you wont ever want to get back to micro trading ...

sisse
Pending conversations? PM for a chat...I am mainly in OTM now
Quoting sisse
{quote} Low liquidity, mid term compression range about to explode ...enjoy mini swinging in H1 the spikes as the range is wide enough to have a taster on how it feels and how to manage real swings ... keep up the good work. The longer you get use to manage longer trades, the most proficient you will become in trading ...even if you start in h1 ... after a while you wont regret making the step forward ... sisse
Have been catching pips now and then, but never had a patience like this. in fact I will not say I had patinece, I took these trades after London drop and slept as it was my sleeping time, when I woke up, this !
Intraday only.
Quoting navk
{quote} Have been catching pips now and then, but never had a patience like this. in fact I will not say I had patinece, I took these trades after London drop and slept as it was my sleeping time, when I woke up, this !
lol mate ... you better develop some patience ...machine gun trading wont lead you anywhere in the long run ...

sisse
Pending conversations? PM for a chat...I am mainly in OTM now
Quoting sisse
{quote} lol mate ... you better develop some patience ...machine gun trading wont lead you anywhere in the long run ... sisse
I agree. Making money while sleeping will not be fine in the longer run.

But I would say, I had technical reasons to take long trades, that is at least good, except patience ( due to sleep )
Intraday only.
Imo : Yesterday eurusd found a support @ 1.0892 at the bottom of the current pitchfork channel (see file attached)
Expected target of such pattern is the median trend line of the channel ie. >1.1350/1.14xx !!
I am wondering if this is the scary movie they want to play, killing the time till next friday....
I am long term short on eurusd so no worry, but crossing the ichimoku cloud @ 1.1140/1.1170 with a second clean candle of confirmation may open the road for a triple top @ 1.14xx before the (over)expected freefall to parity.
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Quoting sisse
{quote} Large long hands are clearing for the portfolio rebalancing at the end of the month. Basically if they clear longs, the floor (in the 1.08xx handle) will be naked and unprotected so a next test will blow it for a couple of hundred ticks non stop... We'll see in a few... {quote} Of course. why should I flop?...We have been trading the same range and same levels for the last few weeks and I don't see a reason to clear a safe hand. I am actually tempted to top up shorts 1.108x (the part of the short term swing I cleared on the test 1.096x early...
Hi I like your interpretation, we could be seeing the same thing. regards E
Quoting navk
{quote} I agree. Making money while sleeping will not be fine in the longer run. But I would say, I had technical reasons to take long trades, that is at least good, except patience ( due to sleep )
I am sure you did but don't forget that everybody have them all the time .... the key is in managing risk not in having technical triggers (if I just trade technical reasons alone I will have +500 trades a week ...je je je ) ...and thats where most newcomers (and not so newbies) around FF fail miserably:

  1. Instead of evaluating risk with their TA to take only the proper trades, they obsess in trying to take every single move. Thinking that "missing"/overlooking a move is a sign of a bad trader when the true is actually the opposite. The best traders are the ones who know when to stay aside and passing a trade opportunity because of poor risk.
  2. Instead of focusing in stops and managed risk they over-focus with the potential reward that usually never pans out because they either chicken out too soon or get married with a loser forever ...
  3. Instead of having a clear technical map to manage failure before entering a trade they just sit and hope their profits target are hit and usually get wiped out when they get caught in the wrong side (like everybody has to deal in our business).

In simple words, instead of being patience and expend 90% of the time managing risk, they just manage imaginary profits covered in the excuse of valid TA setups...

----- ------ ------ ----- -----

In any case, a very calm opening range completed so far. All markets behaving as they were before that last sharp spike...Tracking closely the first round of closes today with Europe going home in a few...

sisse

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