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The Really Useless Thread

  • #143,161
  • Edited 8:16am Sep 14, 2016 8:04am | Edited 8:16am
Quoting primejarvis
{quote} this time not top .... {quote}
Trying to outsmart a macro move in a micro TF its a 'Sucker Game". Sure you will be able to find the exact perfect micro entry in M1 after the fact but only because you will get 'glamour' and blind on the other 1457 failed times that it required to actual make the real break....

If you are long or looking for long entries at these levels you sit tight and manage risk, not manage micro TF chop. IF you are short from above, you let it pan out. If you are looking for entries short around here you have to know that there are only expensive tickets available....

If it works it will work one way or the other. It can take ten minutes or 3 weeks to break down so your M1 will just kill you with a thousand wounds or it can never break down altogether and you will be just missing both sides trading chop for crumbs and your broker making more money than you ...

Plan, calculate risk, decide, pull the trigger and just let it play out .... stop trying to catch a big fish with a small boat, believe me in this one, you will thank me later ....my 2 cents

sisse
Pending conversations? PM for a chat...I am mainly in OTM now
  • #143,162
  • Sep 14, 2016 8:29am Sep 14, 2016 8:29am
Quoting sisse
{quote} Trying to outsmart a macro move in a micro TF its a 'Sucker Game". Sure you will be able to find the exact perfect micro entry in M1 after the fact but only because you will get 'glamour' and blind on the other 1457 failed times that it required to actual make the real break.... If you are long or looking for long entries at these levels you sit tight and manage risk, not manage micro TF chop. IF you are short from above, you let it pan out. If you are looking for entries short around here you have to know that there are only expensive tickets...
I agree, but waiting game is really hard, so I prefer both. Why would we have to decide for one or the other...look at summer trading- HTFs were only ranging! So smaller TFs is hard work, but can work too - with the HTF in mind of course.
PVSRA
  • #143,163
  • Sep 14, 2016 8:30am Sep 14, 2016 8:30am
Quoting sisse
{quote} Plan, calculate risk, decide, pull the trigger and just let it play out .... stop trying to catch a big fish with a small boat, believe me in this one, you will thank me later ....my 2 cents sisse
i always have a plan to enter ....

Personally i made my rules in trading ....

Rule 1. Long and midterm never enters into trades until and unless the the first entry point is locked .
Rule 2. never enters into support & resistance area as there is always a new S/R every time.
Rule 3. everything in the game is dynamic nothing is static
Rule 4. Scalping not my game so, never try to enter and exit like a machine gun.

My main problem is to exit the green pips ....
Re-Incarnated
  • #143,164
  • Sep 14, 2016 9:06am Sep 14, 2016 9:06am
For those who are bored with EURUSD , remember that it's the most traded pair which keeps it in certain balance thus the low range on most days .

There are plenty of pairs and I am not talking about exotic crosses , UJ , cable , loonie and coommodity currencies ....that have a better range and are very tradeable.

EURUSD inability to break lower shows that we're looking for the path of most resistance at the moment , a relief rally and reload could be much needed .
Get Rich or Die Tryin
  • #143,165
  • Sep 14, 2016 9:14am Sep 14, 2016 9:14am
Sold EurCad.
Time will tell.
f(z)=z2+c
  • #143,166
  • Sep 14, 2016 9:34am Sep 14, 2016 9:34am
Quoting sisse
{quote} Trying to outsmart a macro move in a micro TF its a 'Sucker Game". Sure you will be able to find the exact perfect micro entry in M1 after the fact but only because you will get 'glamour' and blind on the other 1457 failed times that it required to actual make the real break.... If you are long or looking for long entries at these levels you sit tight and manage risk, not manage micro TF chop. IF you are short from above, you let it pan out. If you are looking for entries short around here you have to know that there are only expensive tickets...

glad to see ya still around mate, hope to have more time soon to post again

all the best,
cheers,

Jonas
Hero calls followed by margin calls...
  • #143,167
  • Sep 14, 2016 9:38am Sep 14, 2016 9:38am
Quoting PhAnTi'
{quote} glad to see ya still around mate, hope to have more time soon to post again all the best, cheers, Jonas
hi phanti welcome back , long time buddy .... was really missing your posts ...
Re-Incarnated
  • #143,168
  • Sep 14, 2016 10:18am Sep 14, 2016 10:18am
remember, for those of you that aren't very versed in candle stick patterns (I know a few may like the info).....the flag looks valid (pending both 4 hour and daily close), so that means it should proceed the length of the "pole" or more, which would put price in the 1.13xx region and a possible test of 1.1350. That's the trip to the top I was mentioning......

and as hoom mentioned- a good area for bears to reload (for me 1.13869 would be ideal).
  • #143,169
  • Sep 14, 2016 10:24am Sep 14, 2016 10:24am
expecting a roll in E/u today .... just a thought ...
Re-Incarnated
  • #143,170
  • Sep 14, 2016 10:42am Sep 14, 2016 10:42am
Europe going home with choppy sessions across the board. Only update for those in the OIL trade, clearing 1st main target with the test 43.9x.

On the FX front, Euro still stuck in chop zone with Sterling taking the driver seat from todays roll.

All eyes on GU after London going home with 1.299x as only and key rain maker for the BOE to the downside to unlock a sharp capitulation move (not expected for Sep but Nov especially after the latest numbers... However, further BOE QE/dovish BOE will easily triggered it).

This time we also have a potential short squeeze (zigzag 1.309x -> sweeping the current highs -> 1.36 and beyond on air) in play with a rather upbeat BOE (not expected either) as there will be very little interested to sell around the current levels but lots of money willing to hammer it higher before Nov.

Here not much to do today, with same levels, same trades, same all...

sisse

Quoting Fisher755
{quote} I agree, but waiting game is really hard, so I prefer both. ....
When was the last time you saw an Olympic/World champion in both the 100m and Marathon?

sisse
Pending conversations? PM for a chat...I am mainly in OTM now
  • #143,171
  • Sep 14, 2016 10:43am Sep 14, 2016 10:43am
In short from 1313. Stops paid for. On the fence close now or watch and wait. Guess I'll try patience. I heard it's a virtue.
  • #143,172
  • Edited 11:10am Sep 14, 2016 10:54am | Edited 11:10am
In another note , we got some real movers and shakers via news starting from Tomorrow both in sterling and USD in general , could be the reason why market is so

cautious about a break till this very moment !

edit : notice that US data forecasts point to better prints after latest flops
Get Rich or Die Tryin
  • #143,173
  • Sep 14, 2016 11:27am Sep 14, 2016 11:27am
Quoting sisse
{quote} When was the last time you saw an Olympic/World champion in both the 100m and Marathon? sisse

Tis true, but you don't have to be Olympic/world champion to be green..
PVSRA
  • #143,174
  • Sep 14, 2016 1:28pm Sep 14, 2016 1:28pm
Quoting Fisher755
{quote} , but you don't have to be... to be green..
Sadly i think you do.

Jack of all trades, master of none.

@PhAnTi'.... Hey nice to see you around. I hope you jump on with your ideas and comments....

sisse
Pending conversations? PM for a chat...I am mainly in OTM now
  • #143,175
  • Sep 14, 2016 4:18pm Sep 14, 2016 4:18pm
Very tricky close in US equities flirting with the preemptive break down but nobody really convinced to be the first 'sucker' to jump out of the wagon. Any soft blow (call it QE, BOE upbeat outlook or better soft numbers from the US) will put as on the highs again.

Expecting volatility to keep widening in the next few days given the levels, numbers and FED in play.

UK can and will carry the board tomorrow with the BOE until then all markets in need of a push from somewhere to continue.

On the FX board, Euro held steadier today, still stuck in chop zone with bulls far from capitulating this week. Sterling in full control of the currency board. Only a very uneventful, timid and inline outlook from the BOE will leave us in the status quo, anything else will send shockwaves across currencies for tomorrow.

sisse
Pending conversations? PM for a chat...I am mainly in OTM now
  • #143,176
  • Sep 15, 2016 3:46am Sep 15, 2016 3:46am
Soft numbers from the UK but all inline with expectations....that will pretty much kill the session until the BOE.

All eyes on Sterling with GU and Euro with both naked tops and bottoms short term for the BOE ....

sisse
Pending conversations? PM for a chat...I am mainly in OTM now
  • #143,177
  • Sep 15, 2016 5:56am Sep 15, 2016 5:56am
Here we go for the BOE.

Tighten seatbelt for this news in the currency board. Market not expected much but rather a slightly positive/inline BOE. FTSE & Sterling sitting ready for a push to jump higher. We have a short squeeze (tradable btw) in GU to test the post brexit highs while FTSE and world equites will happily ride good news at these levels.

All micro levels raised for the play. If you don't know what you are doing is not the time to learn....here playing the reverso in both Sterling and clearing Euro short term with a upbeat BOE, any other outcome is stay put for continuation...

GL all

sisse
Pending conversations? PM for a chat...I am mainly in OTM now
  • #143,178
  • Sep 15, 2016 6:10am Sep 15, 2016 6:10am
hmm, I read it as (slightly) positive
  • #143,179
  • Sep 15, 2016 6:11am Sep 15, 2016 6:11am
Slightly positive for the current numbers, same for the macro expectations and inflation. Inline....

Back to NY for the US round of reports ....

sisse
Pending conversations? PM for a chat...I am mainly in OTM now
  • #143,180
  • Sep 15, 2016 6:20am Sep 15, 2016 6:20am
Quoting chester123
hmm, I read it as (slightly) positive
Yes. Matched expectations to the coma....

Wasnt that difficult to predict this time, numbers have been very clear all summer.

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