The Really Useless Thread | Page 7033 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

The Really Useless System 25 replies

Bloomberg: VIX Indicator useless for forecasting the direction of equity prices 0 replies

The Really Really Boring Forex System 97 replies

Attachments: The Really Useless Thread
Exit Attachments

The Really Useless Thread

  • #140,641
  • May 24, 2016 2:52am May 24, 2016 2:52am
European numbers completed. Miss in German sentiment but inline/slightly better on the rest. Watch out Euro taking the floor until NY.

sisse
Pending conversations? PM for a chat...I am mainly in OTM now
  • #140,642
  • May 24, 2016 5:01am May 24, 2016 5:01am
It seems NY is gonna decide the game in equities today for short term. SP500 just sitting in key 205x. Technically it looks as a last chance to take it to the upside.
  • #140,643
  • May 24, 2016 5:19am May 24, 2016 5:19am
Quoting chester123
It seems NY is gonna decide the game in equities today for short term. SP500 just sitting in key 205x. Technically it looks as a last chance to take it to the upside.
All as expected since the european opening. S&P sitting at key 2059.xx for the 3rd attempt. NY will decide if we play ball ...all eyes on the open...

sisse
Pending conversations? PM for a chat...I am mainly in OTM now
  • #140,644
  • May 24, 2016 7:37am May 24, 2016 7:37am
Quoting sisse
{quote} All as expected since the european opening. S&P sitting at key 2059.xx for the 3rd attempt. NY will decide if we play ball ...all eyes on the open... sisse
so I bought the break on the open with small position. so far works. I expect it to close the week on the top of the range. Next week maybe pearce the ATH and down we go = Its gonna be time of OPEC (until OPEC oil can make the extension = drive equities too) and NFP soon. Untill that I guess the direction is set - or as u say the bastards are gonna ride it til the very last pip Unless the break does not hold today which I do not expect.
  • #140,645
  • May 24, 2016 8:11am May 24, 2016 8:11am
Quoting sisse
{quote} All as expected since the european opening. S&P sitting at key 2059.xx for the 3rd attempt. NY will decide if we play ball ...all eyes on the open... sisse
I'm reminded of US equities reaction to 1st rate hike in December - up...., then down....recent hawkish comments from Fedheads, if reinforced by Yellen, prolly will fuel stocks rally......Brexit "stay" winning in the polls not hurting, either. Maybe we see stocks rally into June and "buy rumor/sell fact" pull back if/when the Fed whiffs yet again......maybe the tide turns in the Brexit polls.....we'll see.
"If The Fool persists in his Folly he will become wise." - William Blake
  • #140,646
  • May 24, 2016 9:28am May 24, 2016 9:28am
Quoting sisse
German numbers keep coming... European Equities sitting in imminent break [check] up .. Eyes on DAX 984x [super check] holding today will be enough in my case to trigger one more rally.... We are set to mark the low of this month [check] in European and US equities as early as today.
Quoting sisse
First important update after FED is clear including minutes: -->Changing short term outlook in GOLD from neutral to sell
Quoting sisse
... Gold 1289.xx [check] holding a good NFP/W combo unlocks a sharp pullback towards 1190.xx before the summer.
...A superb day across the board. Clearing first target in both European and US equities (10050.x and 2072.xx) and Gold (1230.x) on the European close. On the currency board as widely expected nothing new moving as collateral of Equities and only from today's closing session we can start looking back at Dollar for a key GDP Monthly combo that will set the tone until Brexit/FED in June.

sisse
Pending conversations? PM for a chat...I am mainly in OTM now
  • #140,647
  • May 24, 2016 11:53am May 24, 2016 11:53am
Watch-out APPL $98.xx for the closing range. A soft break will unlock a very sharp rally with GDP till the FED next month. For those trading one way or another from $92.xx is clearing main partial target before today's close ....for those who aren't trading it is key to track it today as it will fuel/or kill the rally in equities and carry the dollar as collateral...

Nice and simple ride. Well done to all that rode it from the lows...

sisse
Pending conversations? PM for a chat...I am mainly in OTM now
  • #140,648
  • May 24, 2016 1:36pm May 24, 2016 1:36pm
A manic close in Equities with markets triggering the farewell rally of the season and prolly the year at these levels with final target within trading distance after todays break while Dollar officially entering in the equation from tomorrow until GDP to settle a key M close before June hikes/Brexit.

Quoting sisse
. ++++ Quick Call 7 (update 2) ++++ Small exercise to get in synch with the market in a short swing Current Euro price @ 1.121x ...
Not much to update so far this week. Euro falling on inertia as collateral of Dollar via Equities.

We have a mid and long term reversal in play in Dollar for the W/M combo. Hard part is done. GDP will settle the deal with a micro exhaustion leg in play that can extend as far as the highs of the 96 handle in the DXY and could carry the Euro to complete the crumbs left in the leg before Friday.

Europe with the upper hand again in the opening tomorrow. Frankfurt can mark the end of the party across the board with a flop in German numbers ...until then ...same levels, same trades, same all...



++++ Quick Call 7 (update 3) ++++

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

Current Euro price @ 1.113x (elapsed time 4 days 2 hours)

IN


-> LMT BUY 1.129x -> TP1 => 1.135x | TP1 => 1.149x | STP => 1.123x | max r:r -=> 4:1

Earleone

hoom

TuTang


No touch (till W close) | 1.139x or 1.119x | max r:r -=> 4:1

suntan

gazpacho

Fadhl

PAStalker

Vorex

workingforex

eborn


-> LMT SELL 1.129x -> TP1 => 1.123x [check] | TP2 => 1.109x | STP => 1.135x | max r:r -=> 4:1 / 4:0

clayjay

chester123

chronical

IMARICH1

mayafx

goosebone

sanvulture

CommercialB

Oshomac [out 1.123x]


sisse
Pending conversations? PM for a chat...I am mainly in OTM now
  • #140,649
  • May 24, 2016 4:36pm May 24, 2016 4:36pm
FOMC June 15th
Brexit vote June 23rd

Fed has made it very clear they are watching brexit closely and that it could (aka would) have an effect on whether or not they increase rates. I suspect there'll be no hike in June.

Quote
The Fed is on track to hike interest rates in June or July

My guess: July yes. June no.
  • #140,650
  • May 25, 2016 5:10am May 25, 2016 5:10am
Quoting sisse
.... equities in choose your poison time for what it can be the farewell rally of the year (2050.xx [check] unlocks -> 2090 [check].xx ...
...and we are finally here (2090.xx) again this month, crumbs away before the opening. Equities in manic mode and we have a decent chance for a quick in and out exhaustion move above 2090.xx with APPL flirting to take $98.xx on pre market trading. Markets in a rush to squeeze the last fumes before the summer. Micromanaging positions here in Equities until Europe goes home and tracking extremely closely the open today as we may get a clean sweep across the board before Friday ...

On the currency board, the majors on the back seat while equities are in control. Sterling flirting with the last short term relief rally before Brexit after latest polls show gap to remain has widening in comparison with a few weeks ago.

More interesting, all non Dollar (especially with YEN) pairs/crosses are looking very interesting with a lot better bang for the buck until JUNE FED/BREXIT is clear. Eyeing and mapping EJ and GJ from next month to ride risk in case is triggered ... but for now all eyes on the open...

sisse
Pending conversations? PM for a chat...I am mainly in OTM now
  • #140,651
  • May 25, 2016 7:30am May 25, 2016 7:30am
Very strong opening range as expected. Watch-out for Oil that just triggered imminent early break up alerts. Taking $49.5x in the next few sessions would unlock a clean sweep to $55.2x...

Its do or die for US Equities with the confirmed test 2090.xx as we officially entering in the most important area for trading for the rest of the year. It will 100% guarantee have important consequences for all asset classes...

sisse
Pending conversations? PM for a chat...I am mainly in OTM now
  • #140,652
  • May 25, 2016 9:23am May 25, 2016 9:23am
Europe held steady the close and US equities finding lots of greedy hands at the highs with APPL as expected since last week sweeping the highs now trading at $99 and counting. We are aligning for a sharp final exhaustion move across the board ... as long as US Equities hold the leg...there is not much to do ....

Euro starting to choke at the current lows but nothing out of the ordinary after a +/-600 ticks non stop down move. Profit taking is around the corner....

Day is far from over and the closing US session is wide open for today ...

sisse
Pending conversations? PM for a chat...I am mainly in OTM now
  • #140,653
  • May 25, 2016 1:21pm May 25, 2016 1:21pm
...and bastards as they didn't know what was in play closing at 2090.xx...too close to call but we definitely haven't seen profit taking yet....not much to see or do...same levels same trades same all until further data...

sisse
Pending conversations? PM for a chat...I am mainly in OTM now
  • #140,654
  • May 25, 2016 2:24pm May 25, 2016 2:24pm
Quoting sisse
...and bastards as they didn't know what was in play closing at 2090.xx...too close to call but we definitely haven't seen profit taking yet....
we will float around 2100 until Friday, when the GDP and the Yellen's words have a chance to prod the bears. Any dreams of "sell in May" I once had are now just a few shallow breaths from lights out.....
"If The Fool persists in his Folly he will become wise." - William Blake
  • #140,655
  • Edited 11:52pm May 25, 2016 11:29pm | Edited 11:52pm
Thanks for the tradable quote on indices
have gone long on indices at S&P 2087.
May punch a little higher than 2100.
Either way should be a good place to short with understandably decent stops.
Have been chasing this short for a year.
Your insight on how important the news is, is!
  • #140,656
  • May 26, 2016 12:05am May 26, 2016 12:05am
Just looked in my trading dictionary and there is no explanation for indicies and Equities has many explanations,
from here on, unless otherwise educated dax, ftse, asx, etc, will be refered to as equities ( which I thought were stocks )
OH to be young and insane
  • #140,657
  • Edited 6:33am May 26, 2016 6:05am | Edited 6:33am
Euro back to 1.120x. Perfect timing for the GDP/M roll last ITERATION of the month with Euro entering in news flow choose your poison time for tomorrow.

+++++Opening table for the 8th Iteration to get in synch with the market short term+++++


--> Question 8: How would you trade the next live short term swing for the GDP/M close in play?

This iteration is a simple trading set variation with a proper R:R. It's titled: To Scale in or not to Scale in ...thats the question? ...

++++Currently Euro is trading 1.120x++++


--> Choose your poison ASAP. All the previous traders from the still open last Iteration are STRONGLY encourage to play .... Any lurkers that want to play/learn with this test feel free to jump in..no middle points no nothing. Winner takes all.

3 options for this simple iteration. No time limit for longs or shorts:

-> LMT BUY 1.120x -> TP1 => 1.140x | STP => 1.115x | max r:r -=> 4:1


-> No touch (till M close) | 1.130x or 1.110x | max r:r -=> 3:1


-> LMT SELL 1.120x -> TP1 => 1.100x 1.095x | STP => 1.125x | max r:r -=> 5:1


Standing tables update from last round, comments, questions for later ...

sisse
Pending conversations? PM for a chat...I am mainly in OTM now
  • #140,658
  • May 26, 2016 6:08am May 26, 2016 6:08am

-> LMT BUY 1.120x -> TP1 => 1.140x | STP => 1.115x | max r:r -=> 4:1

  • #140,659
  • May 26, 2016 6:09am May 26, 2016 6:09am
I really dont know this time. But I guess this is it:

No touch (till M close) | 1.130x or 1.110x | max r:r -=> 3:1

  • #140,660
  • Edited 6:31am May 26, 2016 6:09am | Edited 6:31am
Thanks Pixie666...first taker is always the hardest one to take ...gl

IN

+++++Opening table for the 8th Iteration to get in synch with the market short term+++++

--> Question 8: How would you trade the next live short term swing for the GDP/M close in play?

This iteration is a simple trading set variation with a proper R:R. It's titled: To Scale in or not to Scale in ...thats the question? ...


++++Currently Euro is trading 1.120x++++


-> LMT BUY 1.120x -> TP1 => 1.140x | STP => 1.115x | max r:r -=> 4:1

Pixie666

goosebone

workingforex


-> No touch (till M close) | 1.130x or 1.110x | max r:r -=> 3:1

chester123

hoom

Vorex

eborn


-> LMT SELL 1.120x -> TP1 => 1.100x 1.095x | STP => 1.125x | max r:r -=> 5:1


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