The Really Useless Thread | Page 7099 | 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

  • #141,961
  • Jul 22, 2016 6:10am Jul 22, 2016 6:10am
Quoting hoom
{quote} let it be ...I am done waiting for some TPs
yeah money has been in Equities this month (flooding of QE and all that was a free ride) so if you haven't been there (I haven't) it is about time for some decent movers and shakers in the rest of the board...

sisse
Pending conversations? PM for a chat...I am mainly in OTM now
  • #141,962
  • Jul 22, 2016 6:21am Jul 22, 2016 6:21am
Quoting Motfund
{quote} ... before somebody else take the lead to answer the "buying the tops and selling the lows" part.... First of all, whatever amount of money you are trading, you should really pay more attention to the 2 very basic concepts below : > Adequate leverage : You are overleveraging. Way too much. Otherwise your account would not go from 17 to 90 in 2 weeks. This will not work in the long term. No discussion here. > Cutting losses : Your losses exceed by far your gains. Being in the trend does not mean you let your losses run....

Thanks @Motfund
I'm on 1:500 leverage from my broker. Take for example, I have equity of *100, what is the recommended leverage/lot size to take for each trade... I've not really grasped the power/pitfall to leveraging.
On your second point: I have read and 'heard' that its not really about your entry, but your exit point. Most times, I've had open trades in losses but yet do no know when to close with the loss, being afraid of closing too early.
Sisse did taught about timing some few weeks back, but I'm still far from really grasping when to exit trades either loss/profit.
  • #141,963
  • Jul 22, 2016 6:50am Jul 22, 2016 6:50am
Sisse one of your posts was flagged not sure why

http://www.forexfactory.com/showthre...42#post9043342

edit all posts below that with anything "political" were flagged. Perhaps someone doesn't agree that the political issues faced today have everything to do with what the market is doing right now...

I smell a troll, of course the flagger will not speak up in public to defend their views...
  • #141,964
  • Jul 22, 2016 7:02am Jul 22, 2016 7:02am
wow, dunno who enforces the rules.... but if thats FF thats super crazy censorship
  • #141,965
  • Jul 22, 2016 7:04am Jul 22, 2016 7:04am
Quoting wharley
{quote} Thanks @Motfund I'm on 1:500 leverage from my broker. Take for example, I have equity of *100, what is the recommended leverage/lot size to take for each trade... I've not really grasped the power/pitfall to leveraging. On your second point: I have read and 'heard' that its not really about your entry, but your exit point. Most times, I've had open trades in losses but yet do no know when to close with the loss, being afraid of closing too early. Sisse did taught about timing some few weeks back, but I'm still far from really grasping when...
Well, 1:500 leverage is a bad idea, at least. It is not suitable to any account size IMHO...
Just keep in mind everything which is offered to you in the retail trading world is not always worth to try.
I'm neither launching the "good and bad broker's topic" nor giving lessons, because it is up to you to choose the right leverage.
But if 1:100 is already very risky, let's say 1:500 is madness. Why ? It will for sure push you to enter too big trades (vs your equity).

Without even looking at the formal leverage ratio applicable to your account, just size your trades more reasonnably.
Do not look only at what you can earn with the trade, look carefully at what you can loose if it goes wrong.
If you can burn your account in 4 or 5 losses there is definitely something wrong.

Some people apply a "2% rule" (not risking more than 2% on each trade). Maybe you believe it is not applicable to you because you have a limited starting balance, but there is room between this rule and the unbearable risk you take with 1:500 leverage.

Good luck with your trading.

EDIT / Maybe you can add to your platform an equity/trade manager which will help you managing your trades. Loads available for MT4 here or with a google search.
  • #141,966
  • Jul 22, 2016 7:07am Jul 22, 2016 7:07am
Quoting Pharm0r
Sisse one of your posts was flagged not sure why http://www.forexfactory.com/showthre...42#post9043342 edit all posts below that with anything "political" were flagged. Perhaps someone doesn't agree that the political issues faced today have everything to do with what the market is doing right now... I smell a troll, of course the flagger will not speak up in public to defend their views...
It has plenty to do with it. The Clusterf**K scenario Gator described over in the Swamp sounds farfetched at first, but if you work it all the way through it's constitutionally possible that it could happen, and so some of the big money has to at least have it on their radar.
  • #141,967
  • Jul 22, 2016 7:32am Jul 22, 2016 7:32am
Quoting Pharm0r
Sisse one of your posts was flagged not sure why http://www.forexfactory.com/showthre...42#post9043342 edit all posts below that with anything "political" were flagged. Perhaps someone doesn't agree that the political issues faced today have everything to do with what the market is doing right now... I smell a troll, of course the flagger will not speak up in public to defend their views...
so what is going on now? If there is a post with any political comment even for trading purposes, any at all, especially indirectly criticizing Trump then it is taken off? My comment before was also taken off.
"Bulls make money, bears make money, pigs get slaughtered"
  • #141,968
  • Jul 22, 2016 7:32am Jul 22, 2016 7:32am
Quoting chester123
wow, dunno who enforces the rules.... but if thats FF thats super crazy censorship
Yep - but it happens all the time on FF - there are certain things that are no go's
  • #141,969
  • Jul 22, 2016 7:37am Jul 22, 2016 7:37am
Quoting Motfund
{quote} Well, 1:500 leverage is a bad idea, at least. It is not suitable to any account size IMHO... Just keep in mind everything which is offered to you in the retail trading world is not always worth to try. I'm neither launching the "good and bad broker's topic" nor giving lessons, because it is up to you to choose the right leverage. But if 1:100 is already very risky, let's say 1:500 is madness. Why ? It will for sure push you to enter too big trades (vs your equity). Without even looking at the formal leverage ratio applicable...
Hmmm. I've just checked the allowed leverage offered by my broker, there is the 1:25, 1:50, 1:100, 1:200, 1:500 and 1:1000. It means I have been oblivious of this all this while.
* I have mostly been "pushed/lured" to enter too big trades, and sometimes I will be having like, 5 sell orders concurrently open, just trying not close with a loss(running after the price), which consequently burns my account.
* On the 2% rule: say, for a *100 equity and I want to apply the 2% rule, what will be my lot size for a single trade(and still on the 1:500 leverage- I'm yet to try out the other leverage sizes)?
* I will sure search out an equity manager recommended.

I really appreciate the effort @Motfund
  • #141,970
  • Jul 22, 2016 7:48am Jul 22, 2016 7:48am
Opening range completed and FX markets barely holding but holding one more time.

Whoever is holding the FX board (CBs?) the last 3 weeks to try to form a 'less' feeble floor is going to have to clean big mess if markets break them down ... for now day still far from over and Europe going home will unlock a final attempt for a clean sweep...


Quoting Pharm0r
Sisse one of your posts was flagged not sure why http://www.forexfactory.com/showthre...42#post9043342 edit all posts below that with anything "political" were flagged. Perhaps someone doesn't agree that the political issues faced today have everything to do with what the market is doing right now... I smell a troll, of course the flagger will not speak up in public to defend their views...
oh la la didn't notice ...well thats getting a common denominator lately (with brexit here in the last few months you couldn't even mention WINE in some media comments online because it was too French for the national interest...je je je ...exaggerating of course but you get the point)' ....

As soon as somebody has a more humanist perspective of the world and calls from some caution against extreme views (race, religion, xenophobia, etc) and a bit of a 'call to attention' to what history has teach us when extremist and nationalism prime over human beings you get hammered by an army of trolls [especially in the internet] everywhere. It's getting worst. I hope the majority of normal people put a stop to this trend.

Sad really but that show you exactly the level of discussion, ignorance and low education some of these extremist political trolls have. All are covered under the false flag of 'change' and 'democracy' ..AS IF !!!... In any case, LOUD and CLEAR again:

--> A rather sad day for the US in the political front. America flirting with uncharted (for them) new lows with a hate speech that highlighted everything but what the US really supposed to represent....

http://www.forexfactory.com/showthre...42#post9043342


sisse
Pending conversations? PM for a chat...I am mainly in OTM now
  • #141,971
  • Jul 22, 2016 8:12am Jul 22, 2016 8:12am
Quoting MissPips
{quote} It has plenty to do with it. The Clusterf**K scenario Gator described over in the Swamp sounds farfetched at first, but if you work it all the way through it's constitutionally possible that it could happen, and so some of the big money has to at least have it on their radar.
Absolutly agree.


If he Will get permanently banned, too, this site (FF) really really stincs!!!
So be alert on this one, and better get sisse's Twitter account upfront. Happened before. (BTW, political views have nothing to do with it, it is just an excuse).
PVSRA
  • #141,972
  • Jul 22, 2016 8:23am Jul 22, 2016 8:23am
The posts will be seen by Twee and he'll decide from there whether or not they stay. He will also most likely message the individual that reported the posts explaining why or why not they will be allowed.

Sisse getting banned from those posts is highly unlikely.
  • #141,973
  • Jul 22, 2016 8:47am Jul 22, 2016 8:47am
Let's try to stay rational , Internet is like a jungle ...no matter how much you think that you're surrounded with civilized minds you get thrown a brick right on your face...that's how it is ...you can't change people minds and some feel threatened by your different thinking so they turn agressive .

Overall , Sisse comments what he thinks/judges right , some agree some disagree and let me quote
Quote
Anti-intellectualism has been a constant thread winding its way through our political and cultural life, nurtured by the false notion that democracy means that 'my ignorance is just as good as your knowledge.'

on a side note , I fully agree with Sisse's view on the matter ...
Get Rich or Die Tryin
  • #141,974
  • Jul 22, 2016 8:51am Jul 22, 2016 8:51am
Quoting sisse
As soon as somebody has a more humanist perspective of the world and calls from some caution against extreme views (race, religion, xenophobia, etc) and a bit of a 'call to attention' to what history has teach us when extremist and nationalism prime over human beings you get hammered by an army of trolls [especially in the internet] everywhere. It's getting worst. I hope the majority of normal people put a stop to this trend. Sad really but that show you exactly the level of discussion, ignorance and low education some of these extremist political...
  • #141,975
  • Jul 22, 2016 9:02am Jul 22, 2016 9:02am
Quoting sisse;9044315 edit : A rather sad day for the US in the political front. America flirting with uncharted (for them) new lows with a hate speech that highlighted everything but what the US really supposed to represent.... [URL
http://www.forexfactory.com/showthread.php?p=9043342#post9043342[/url] sisse
Read this post this am and wanted to respond but am going to wait till the weekend when trading is over . Have no clue why your post was flagged .
I watched the speech with a clean news feed ( no analysis bull sh#t ) Hate speech was not what I heard !! Will give my opinion later. ( I have friends coming over from the west coast so pretty busy here )

Hope everyone has a great weekend .

Peace build11

PS glad to see you Mrs P Miss your insight
Peace
  • #141,976
  • Jul 22, 2016 9:22am Jul 22, 2016 9:22am
Quoting sisse
{quote} yeah money has been in Equities this month (flooding of QE and all that was a free ride) so if you haven't been there (I haven't) it is about time for some decent movers and shakers in the rest of the board... sisse
This equities ride is more exhausted than ever, most of the data we saw recently were conducted in May or earlier in June. Even Vodafone report that came out today shown data from the first quarter. The first batch of bad news has only come out this week of retail sales contraction and a contraction in manufacturing PMI and service PMI today. There are more of them cooking in the back ground and we can see large hands starting to clear equities at these level. It could start as early as next month and even worse at the end of this quarter
  • #141,977
  • Jul 22, 2016 10:03am Jul 22, 2016 10:03am
Quoting TuTang
{quote} This equities ride is more exhausted than ever, most of the data we saw recently were conducted in May or earlier in June. Even Vodafone report that came out today shown data from the first quarter. The first batch of bad news has only come out this week of retail sales contraction and a contraction in manufacturing PMI and service PMI today. There are more of them cooking in the back ground and we can see large hands starting to clear equities at these level. It could start as early as next month and even worse at the end of this quarter...
--> Wont be that clean. Bastards will squeeze the last penny on this one as it will be the last one for a while. We still have FED July (for a no hike this year), BOJ QE and potentially (less after today) free money forever, BOE bazooka next month and ECB September.

--> After that we will officially run out of ammo in the monetary policy front after 8 years of endless free money & low rates and thats when things can go really nasty as the world economy bar the US is heading to a sharp correction (and in some cases a major recession).

--> Sadly that was/is the worst scenario we had in play when CBs decided to overstay in low rates and printing money as there will be nothing else to fight a slow down in the Economy.

 

  1. Those who made this prediction comparing 2008 to the Great Depression are scarily getting it right: 1930 recession -> populism/nationalism -> protectionism -> ...refuse to think about this next step one yet ...hopefully not.


Munich sadly is on the wires right now but it does't seem to be a terrorist act ....tracking tangentially in case is something else as we are in the doldrums of the summer & week with very thin markets at these levels ...there is just lots of air below in all European currencies and Yen can easily complete the move as early as today via risk ....

sisse

Pending conversations? PM for a chat...I am mainly in OTM now
  • #141,978
  • Jul 22, 2016 10:36am Jul 22, 2016 10:36am
Quoting sisse
{quote} --> Wont be that clean. Bastards will squeeze the last penny on this one as it will be the last one for a while. We still have FED July (for a no hike this year), BOJ QE and potentially (less after today) free money forever, BOE bazooka next month and ECB September. --> After that we will officially run out of ammo in the monetary policy front after 8 years of endless free money & low rates and thats when things can go really nasty as the world economy bar the US is heading to a sharp correction (and in some cases a major recession). -->...
Munich sadly is on the wires

Don't think humanism would have helped these poor souls(ditto Nice/Paris)

http://sputniknews.com/europe/201607...URL_shortening
  • #141,979
  • Jul 22, 2016 12:13pm Jul 22, 2016 12:13pm
Markets feel very tired and heavy but didn't make a clean sweep for the closing range in the FX board and just in a very timid slide down all day long.

A rather action pack week from the news and political front but very choppy and calm on the trading side. US markets completely dislocated from the rest of world and the divergences in everything from risk, monetary policy divergence to macro numbers and earnings are completely out of balance with global markets.

For now and as long as US hold, there is not much to see but same levels, same trades, same all.

Quoting sisse
{quote} or do but sit and wait patiently. ====== Iteration 14 ====== ++++Currently Euro is trading 1.098x++++ (Elapsed Time 12 hours 14 days) "Knee jerk reaction or a
Time for a much need update on the standings. Still iterations 12, 13 and 14 open. Very well done to Fadhl, glassblower and vorex that are still in the lead in set 2 but chester123 and IMARICH1 still leading in the total.

On the results, very competitive and good positive results so far in set 2. Lots of patience and good judgment from most traders. For the newcomers and lurkers around check how these guys are kicking ass with only proper r:r and without overtrading....

There is still the wrap up left but for now:

Standing Table update as per today.:

Attached Image (click to enlarge)
Click to Enlarge Name: Update Table.png Size: 582 KB


sisse
Pending conversations? PM for a chat...I am mainly in OTM now
  • #141,980
  • Jul 22, 2016 12:54pm Jul 22, 2016 12:54pm
Quoting sisse
Markets feel very tired and heavy but didn't make a clean sweep for the closing range in the FX board and just in a very timid slide down all day long. A rather action pack week from the news and political front but very choppy and calm on the trading side. US markets completely dislocated from the rest of world and the divergences in everything from risk, monetary policy divergence to macro numbers and earnings are completely out of balance with global markets. For now and as long as US hold, there is not much to see but same levels, same trades,...
Somehow I show up two places in the table at position 5 and position 24. Correct username is earleone.
Trading in the shadow of SM
47 traders viewing now