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The Really Useless Thread

  • #140,041
  • Apr 21, 2016 3:16pm Apr 21, 2016 3:16pm
Quoting workingforex
{quote} I will take this for the exercise Sisse, as always very good insight and work here -> LMT BUY 1.129x -> TP => 1.139x | STP => 1.124x | r:r -=> 2:1
workingforex IN buy ....

sisse
Pending conversations? PM for a chat...I am mainly in OTM now
  • #140,042
  • Apr 21, 2016 3:20pm Apr 21, 2016 3:20pm
quote=PAStalker;8886516]-> LMT BUY 1.129x -> TP => 1.139x | STP => 1.124x | r:r -=> 2:1 But if this iteration ends next Thursday and FOMC statement the day before, would the stop be vulnerable to volatility at the time of the statement? [/quote]
I need some insight on this too sisse if you may give a word or two about this, is the reason i went long 1.129x becaus of votality fomc next week
  • #140,043
  • Apr 21, 2016 3:29pm Apr 21, 2016 3:29pm
Quoting Pixie666
quote=PAStalker;8886516]-> LMT BUY 1.129x -> TP => 1.139x | STP => 1.124x | r:r -=> 2:1 But if this iteration ends next Thursday and FOMC statement the day before, would the stop be vulnerable to volatility at the time of the statement?
Quote
I need some insight on this too sisse if you may give a word or two about this, is the reason i went long 1.129x becaus of votality fomc next week

Before we talk about details of direction I am just trying to establish some basic concepts in timing. In this case, its trying to grasp the idea of short term swinging taking in consideration the main mover and shakers in the calendar.

This is a very useful and powerful advice:

  1. First, because it allows you to 'schedule' your screen time (..ou've got to know when to hold, fold walk away or run...).
  2. Second because it allow you to gauge when contractions/expansions of volatility will/could happen and,
  3. Third it will allow you to have an initial introduction on how FA defines the shape, direction and flows in the markets (MARIACH1 is wondering and doubting why FA and not only TA etc etc )

In simple words as for this exercise, its about the relation between time, volatility and the simple impact of scheduled reports and news more than the FA impact in direction (thats for later) ...

sisse

PS: LAST call table closing on the roll !!!!

Pending conversations? PM for a chat...I am mainly in OTM now
  • #140,044
  • Apr 21, 2016 3:35pm Apr 21, 2016 3:35pm
Quoting sisse
{quote}{quote} Before we talk about details of direction I am just trying to establish some basic concepts in timing. In this case, its trying to grasp the idea of short term swinging taking in consideration the main mover and shakers in the calendar. This is a very useful and powerful advice: First, because it allows you to 'schedule' your screen time (..ou've got to know when to hold, fold walk away or run...). Second because it allow you to gauge when contractions/expansions of volatility will/could happen and, Third it will allow you on an initial...
Thank u sir, learning alot from all this excellent posts and exercise
  • #140,045
  • Apr 21, 2016 3:42pm Apr 21, 2016 3:42pm
for me short targeting 1.11 with stop above todays highs
  • #140,046
  • Apr 21, 2016 3:50pm Apr 21, 2016 3:50pm
Targeting 1.114x/1.116x here
I pick Sell
  • #140,047
  • Edited 4:38pm Apr 21, 2016 4:03pm | Edited 4:38pm
Table closed. GL ALL

++++ Quick Call 3 [update 0]++++

Small exercise to get in synch with the market in a short swing

Current Euro price @ 1.129x (elapsed time 0 day 0 hours)


-> LMT BUY to 1.139x


Pixie666

PAStalker

workingforex

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

-> LMT SELL to 1.119x


IMARICH1

hoom,

Pharm0r

glassblower

monkey@forex

Replicant

eborn

sisse


Pending conversations? PM for a chat...I am mainly in OTM now
  • #140,048
  • Apr 21, 2016 4:05pm Apr 21, 2016 4:05pm
Quoting IMARICH1
...When I say NEUTRAL, I mean OUTLOOK is NEUTRAL. Trade from EXTREMES to TARGET but not CENTER. ANSWER: Iteration 2: I would be SHORT STILL from .1390 at .1290 level we reached and were given the choice to go LONG (.1390) or SHORT (.1190). And, now I would targeting .1190.... 2. Can you quickly take a screenshot of the neutral range you are referring? No lines or indicator just a zoom in clean chart with what is for you the current range? I am using my DAILY chart to Look at the RANGE for the WEEK which shows .139X to .123X {image}
To wrap up this second round.

IMO, You are too close to the market, you are edging closer to chasing mode view. In small compress ranges with wide noise intraday you will thrive but when markets start moving out of range and worst when markets start trending you are prolly going to struggle and be edge with the laggers and chasers in most of the cases if you get so close to the market.

Let me show you the range neutral from a different angle (although the same chart). I just plotted when my outlook changed to neutral (the why? it a teaser for a next discussion) the top and bottom and when we have been doing the exercise ...

Attached Image (click to enlarge)
Click to Enlarge Name: yzkq8T6E.png Size: 106 KB

Final questions:
-> Are you trading what you preach with the outlooks?
-> Can you spot the flip in this chart?

I hope it trigger something useful ...

sisse
Pending conversations? PM for a chat...I am mainly in OTM now
  • #140,049
  • Apr 21, 2016 4:19pm Apr 21, 2016 4:19pm
If you don't mind, here is the TA I'm trading ATM. Same view caught me on the wrong side not only on the 2nd exercise, but most of the week. Luckily- RR saves me on these bad weeks...which are almost ALWAYS a case of over trading. The saving grace being good money management....I'm exceptionally good at closing losers- but over trading is an issue I struggle with

From gator/mofu method (those that follow will understand, those that dont wont need to, as I'm expressing it on chart)

For transparency, the red dotted lines are my current trades

As far as trade timing, I suspect that the bulls will be looking to load around either of the two blue areas for a bearish FOMC. As you can see, both quarter and monthly range line up in these areas..
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDiDaily.png Size: 44 KB
  • #140,050
  • Apr 21, 2016 4:30pm Apr 21, 2016 4:30pm
Quoting Pharm0r
If you don't mind, here is the TA I'm trading ATM. Same view caught me on the wrong side not only on the 2nd exercise, but most of the week. Luckily- RR saves me on these bad weeks...which are almost ALWAYS a case of over trading. The saving grace being good money management....I'm exceptionally good at closing losers- but over trading is an issue I struggle with From gator/mofu method (those that follow will understand, those that dont wont need to, as I'm expressing it on chart) For transparency, the red dotted lines are my current trades As far...
Thats a full blown (and very nice btw) mid term map... you need the FED to play ball to set the high of the M/Q and prolly Year ....for now the current highs are still unlocked. The hesitant and over-politicised ECB today will help the cause in the short term....

sisse
Pending conversations? PM for a chat...I am mainly in OTM now
  • #140,051
  • Apr 21, 2016 4:33pm Apr 21, 2016 4:33pm
Grmbl, was out for the close. Posting sell 1.119x for my own future reference.
  • #140,052
  • Apr 21, 2016 4:38pm Apr 21, 2016 4:38pm
Quoting sisse
{quote} Thats a full blown (and very nice btw) mid term map... you need the FED to play ball to set the high of the M/Q and prolly Year ....for now the current highs are still unlocked. The hesitant and over-politicised ECB today will help the cause in the short term.... sisse
Good point- another issue. I tend to trade mid terms swings with short term stops. Although that leads to me cutting losers early, it leads to many of them.

This should bring it more in line with short term, and FOMC upcoming. Same thoughts as before. Now you can see why my TP (50% of total position) is right before flip zone. Other 50% will be held for mid-term, if the flip zone is beat.
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDiDaily.png Size: 36 KB
  • #140,053
  • Apr 21, 2016 4:53pm Apr 21, 2016 4:53pm
My view on eurusd on TA side and some basic FA. And the TA reason for limit buy in exercise.
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd.PNG Size: 154 KB
  • #140,054
  • Apr 21, 2016 5:20pm Apr 21, 2016 5:20pm
Sisse - might be too late but seeing as I'm bottom of the class...

I take the buy option but it's a coin toss as far as I'm concerned - I've not placed a live trade in four weeks.
  • #140,055
  • Apr 21, 2016 6:01pm Apr 21, 2016 6:01pm
Sisse,

From what I see, I presume we are at the middle of the road, it can go either way.
buy lmt -> 1.128xx to 1.138 and may extend to 1.141xx
sell lmt -> 1.129xx to 1.117

(I am but a rookie)
  • #140,056
  • Edited 8:34pm Apr 21, 2016 6:58pm | Edited 8:34pm
Guess jumping ship 9 pips, and perhaps more importantly, a full day early at 1381 took me off the long team. They say patience pays. congrats to longs. I best stay out on this one as I seem to learn more when I lurk more. Great discussions. Thanks sisse, IMarich1,all posters on thread for the effort.
  • #140,057
  • Apr 21, 2016 11:03pm Apr 21, 2016 11:03pm
Quoting sisse
Table open for the next round for IMARICH1, all the others who called it before and for new entrants.... --> Question 3: What level will be tested first? This iteration have a variation on the R:R --> Currently Euro is trading 1.129x: --> Choose your poison ASAP and any other lurkers that want to play/learn with this test feel free to jump in..no middle points no nothing. Winner takes all. In simple words for the sake of the example the option in trading terms are : -> LMT BUY 1.129x -> TP => 1.139x | STP => 1.124x | r:r -=>...
I am neutral ... I m late but hope I can join d table ...
Re-Incarnated
  • #140,058
  • Apr 22, 2016 8:02am Apr 22, 2016 8:02am
Quoting sisse
Table closed. GL ALL ++++ Quick Call 3 [update 0]++++
-> LMT BUY 1.129x -> TP => 1.139x | STP => 1.124x [check] | r:r -=> 2:1

++++ Quick Call 3 [update 1]++++

Small exercise to get in synch with the market in a short swing

Current Euro price @ 1.124x (elapsed time 0day 12 hours)


-> LMT BUY to 1.139x


Pixie666

PAStalker

workingforex

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

-> LMT SELL to 1.119x


IMARICH1

hoom,

Pharm0r

glassblower

monkey@forex

Replicant

eborn



​1.124x knocked down. All longs out of the competition... All open for the rest. Losing 1.127x for the open unlocks momentum for the european close ....until then nothing to see there.

YEN sweeping the board on rates expectations. As always with the BOJ, sharp shifts in expectations when things get out of hands but always ending up just delaying the pain and kicking the can further down the road.

UJ 113.xx handle unlocked as we trade air. Short term outlook changed by default from neutral to buy. However no changes in mid term outlook for UJ stays in sell

sisse
Pending conversations? PM for a chat...I am mainly in OTM now
  • #140,059
  • Apr 22, 2016 9:09am Apr 22, 2016 9:09am
...things look rather shaky for the euro after the opening range ...watch-out for the floor with Europe going home ...

sisse
Pending conversations? PM for a chat...I am mainly in OTM now
  • #140,060
  • Apr 22, 2016 9:25am Apr 22, 2016 9:25am
cheap tickets for buying .... i am in ....
Re-Incarnated
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