The Really Useless Thread

...all done for the week...knee jerk reaction settle in perfect timing for the close. Equities finding soft foot and the slow grinding of lows continue 2100.xx for election and 2070.xx to complete the RMT are settle for soft continuation. Still the closing range left but it wont change the outcome after the last leg....

--> On the FX front, also all pretty much settle, Yen cleared all doubts yesterday with the test 105.2x so no surprises for the roll. No point in holding remaining positions until election is clear so manually clearing all in all YEN pairs with UJ 104.8x.

--> Sterling on the verge of entering in consolidation mode, stuck between a Rock and a Hard Place. Inflation is going to explode way before and higher that was anticipated while macro numbers held preliminary Q3 reports putting the BOE in a very tricky position.

I am edging towards a 'hawkish' BOE in the very short term as inflation concerns will be easier to handle with macro numbers still hanging and more important with RMT still to finish the legs in Dollar.

Trading wise, the least interesting in terms of TA. WE lost 1.228x reference and we are literally trading air in no man's land. Short term remain bearish but softer, Mid term no changes yet with Brexit still to come while for the Long Run a slightly neutral FA for the closing of the year ....a glimmer of the bottom in GU is near via inflation and pretty much technical macroeconomic exhaustion for further depreciation in the Pound.

--> Finally on the Euro, no much surprises during the month and like YEN completed the main test 1.088x very early on the week to make things a lot easier to manage while Mid term leg is in full motion for the next couple of months. Also in the long term, solid numbers particularly from the periphery confirming the recovery that was expected since early in the year and also a glimmer of the long term bottom with ECB on track to raise QE next year .... only wildcard is brexit and the policial front ....

For the current leg, I was expecting a close 1.086x rather 1.097x after the news but the small knee jerk reaction from the election front pretty much killed all chances.

Whatever the case, for those who already chose their poison to reload for the short term swing or load logs for the first time on the European close is nothing to see or do.

Thanks to the news we have a powerful W a M double combo 'Roll Play' confirmed for today ... Choose your poison time also for the mid term leg for those aiming to load longs or add shorts ... For those who haven't decided yet is time to look for positions in the next few sessions starting on the close today.

For the rest of us is ....same levels, same trades, same all....

sisse

...plenty of updates and wrap up since we finish the round.

First for the sake of the update: Final chart update for iteration 19 and 20 ...well done all that trade it live or just for chipping in this conversation.



No much comments here. Only one suggestion for those interested. Measure the range from top to bottom and honestly compare with all your trades you have taking during the same time and ask yourself:

1. What % of that range you took?
2. What would have been the result in W%, R:R and ROI if you would have trade only to short side?
3. How many trades against the trend you place? and how many with the trend? ...

Momentum play wrap up and roll plays coming later ... final standing table and top 20 coming ...

sisse

First my sincere congratulation to Fadhl ... Fantastic !!!! You managed to play every single one of the iteration and without making much noise you slowly became the most consistent trader (over 130 in total) in terms of decision making even if you went against the flow a couple of times.

I don't know much about you, but I know you were looking for something here and you really grasped and improved your consistency a lot.

Very well done a return of 229% is not an easy thing to achieve. If you are trading live, you should be very proud, if you don'r you look ready to go for it. 2 Thumbs up and you got the 'traditional' best trader of the season award in the thread !!!!.

+++ FINAL TABLE +++

Well done to all top 20. Great results, some struggle, some have fun, some just abandon ship. As we discussed before. The top 20 will be invited to the next stage which will be a unique disruptive trading experience (no more iteration ...!!!!) that hopefully will end up in something bigger than that ...updates later and via PM.

Only points to wrap up:

 

1. Managing risk is the name of the game and thats is final and the most important of all in these iterations.
2. Avoid at al cost a machine gun approach. 10 trades in 3 months in only 1 pair (you can imagine when you extend your portfolio to 4 or 5 sectors/instruments) trading the minimum size for retail can have dramatic results that 80% of the traders around these boards will never even dream off.
3. Jack of all trades, master of none. Most basic retail have nearly 25000 instruments available for trading. Select a few and master them, Swing and master your TF, don't force or chart fit trades, master your timing ...manage risk

sisse

WD Fadhl. Appreciate the time invested sisse.

...and we rolled a bearish daily close in the Euro and neutral in W but we couldn't lock the 1.11xx handle yet ...we'll see how it plays on Monday ....

sisse

And well done to you too sisse on the hugely impressive iterations you organized!
...as for what you've got planned for afters ..why am I shaking? ...hopefully is just in anticipation ha ha!

CommercialB,

Not that it means as much coming from me but very proud of your standings! Great job!

Congratulation Fadhl, Nothing to add. Very well done. Also to all the other that participated I will say thank you.

It has been fun and I have learned a lot. I know that all that has been following has learned a lot also the many that did not participate.

BIG BIG Thank you to Sisse. Don't know what to title you. Master, Mentor, Professor, Captain. Thank you for sharing your deep and valuable knowledge with us. I am qte sure it has not been coming to you as easy as you have been giving it to us and I am grateful. Think and hope it comes more of the knowledge from you.

Your last advice here that I kept in the quote is so correct. All should read and think about it!!

sisse,

Thanks for all your time and educating our minds by challenging us to THINK and some more than others...just saying. Lol or je,je, je

Lots of time put into this that didn't have to and you have a lot of trader's respect for you!!!

Food for thought:
Interesting isn't it that we started this with .0978 last yr around this time and we ended our iterations with it around the same time! Hmmmmm

This damn # has been here for over a year!!!

Have a great weekend my trader friends! I will sit and wait and again

Hey thanks IMARICH1! You're also hanging well in there too, and anyway it's one thing being brave in the iterations it's quite another replicating that in real life trading, and I know that none of us is under any illusions there for sure! . I suppose it was like demo trading but with the company of others and all under the watchful eye of a mentor, (with maybe the odd small side bet in real time trading just to make it more interesting now & then ) ....was certainly a great way to get all that and a great learning experience, and I suppose we've got you to thank for your persistence at sisse (and his resulting frustration maybe, ahem ) for starting it all off in the first place ..and who knows what he's got up his sleeve for us now ha!

Congratulations and big thanks to all (esp. Sisse of course) for their attention and efforts! And excellent calls esp. at the last turn @Fadhl! Looking forward to more learning with all participants. Great weekend everyone!

Hey look- IMARICH1 made it after all, and he was so worried

Congrats everyone on completing this chapter. What an inspiring group! sisse, by the looks of how the iterations flowed, you put a lot of planning and personal time into the process, that's to be commended. How appropriate it was in this thread too

Beers for everyone!

great stuff!

Hey does anyone have a PDF or a summary of this thread with the most important posts - compiled into one file - PDF, doc, etc?

Would love to read more while on the move.. Thanks

You're looking at it.

http://www.forexfactory.com/showthread.php?t=310676

You think I'm joking....I've read every post in this thread from late 2012 onward. Took roughly 6 months. It's important to read everything, otherwise you will have on context. A post without the proper context is useless.

This thread was once home to the most legendary traders of FF, and every now and then a few still pop by. By legendary of course I mean real traders....but by FF standards legendary.

Yeah it's not easy, but it's worth it. I think of it like eating a big bucket of sand with a couple dozen perfectly ripe juicy cherries mixed into it.

haha you must really like cherries...

Maybe that should be sisse's new analogy that you are missing the cherries for the trees. Lol, je je.

I think i might be more attentive. Lol.

Sighhh....where are they now? Where is Ken? What the hell happened to Wulfgar? OldQuant...well, we all get old....chazzle, Piters, cloggie (!), fxjawn, gator, Magix, AllyB, PKimnyc, Venice, kill56, etc....was a lively crew....things kind of petered out by 2014. And now, lots different....glad we still have PTL around, and sisse of course....

Kenfen and Hatch MIA since earlier this year despite calls/emails from myself and gator. He had stated March this year he wanted to come back....

MAGIX and AllyB pop up every now and then. Kill56 I think stopped by early 2016, gator as younknow has his own thread and cloggie is still a semi-regular going by various names (3 was my last count).

If you wanted a real answer...

Waw honestly this looks like the closest thing to the Turtle Traders I've ever witnessed. I'm so lucky to be part of this whole process! Huge thanks to Sisse for continuing to put so much time and efforts in this thread, it's pure gold.