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The Really Useless Thread

  • #145,981
  • Dec 5, 2016 11:41am Dec 5, 2016 11:41am
Quoting hoom
I saw someone commenting about a roll play for today close , I don't agree with that and in the context of the coming events from EZ side , euro* is going to be in the front seat along side USD this time so direction wise , you blink you miss apply IMO as soon as monday open for the next short term leg before ECB/FED in terms of positionning . Beware the kneejerk reaction as always in such risk events . Here cleared some positions manually as is not worth the risk in play after the swing...
Exactly what I was cautious about but not what I expected to happen . I notice that some are hit by today flows but that's normal , as I said before weekend I cleared some positions manually but that doesn't mean that I nailed it as far as risk management is concerned , I could have made better returns while not moving my stops and closing before certain TPs are reached .
Get Rich or Die Tryin
  • #145,982
  • Dec 5, 2016 11:44am Dec 5, 2016 11:44am
Quoting Pharm0r
I'm waiting for 1.0850 Clearing longs there and looking for shorts from there into the 1.09 handle
Clearing longs @1.0850 after you got your long awaited ticket for +1.2 targets mofu setup . this account is hacked
Get Rich or Die Tryin
  • #145,983
  • Edited 12:00pm Dec 5, 2016 11:49am | Edited 12:00pm
Quoting hoom
{quote} Clearing longs @1.0850 after you got your long awaited ticket for +1.2 targets mofu setup . this account is hacked
"long awaited ticket" ? I took the same trade jan from 1.07xx to 1.10xx for the same target...what good would holding have done now?

http://www.forexfactory.com/showthre...73#post8690773

My half lot is hardy worth holding the time it would take to get from 1.0850 to 1.2xxx.....just because the target is valid does not mean I would hold it the amount of time it would take to get there.....less I only took one trade every 3 years?

0.8xxx is also valid......target and tp are not the same

Also, I agree with what you said earlier- downside looks clear for an easy sweep now
  • #145,984
  • Dec 5, 2016 11:52am Dec 5, 2016 11:52am
Quoting goosebone
{quote} I hate when you are right. If you could try to be wrong a little more often I would appreciate it.
It's easy to recognize my own trials and tribulations
  • #145,985
  • Dec 5, 2016 1:40pm Dec 5, 2016 1:40pm
A simple day across the board with only one highlight equities breaking correlation with Bonds pre ECB/FED. Bookmark today in your calendar for future reference.

On the currency front, full short squeeze in the EURO* extended to the very highs of the 1.07xx handle exercising maximum pain for those shorts from the top the range after the clear up from the Italian vote.

Its 'fill or kill' in the Euro from the roll onwards as stops are now naked after the squeeze. Not much to do except sit tight and let it play out with same levels, same trade, same all.

Quoting hoom
{quote} this is the 3rd time in recent years that large buy orders turn euro around 1.050x in very fast move up . I thought the bottom was naked this time like Sisse mentionned[wrong] ...!
Definitively. I was very wrong dismissing bulls after the Italian vote. 1.056x was far from naked. Beautiful and textbook news short squeeze (well done to all that caught it).

sisse
Pending conversations? PM for a chat...I am mainly in OTM now
  • #145,986
  • Dec 5, 2016 1:43pm Dec 5, 2016 1:43pm
Clueless in Seattle is my feeling for the day.

Ill share only to embarrass myself. I had a map and a plan. I was in at .0675 and should have cleared at .051x. But, I was waiting for .046x to .044x since we cleared .061x and held below .056x.

Didnt expect this move today. I lost a lot of my gains. I had a stop above .073x and got hit.

Italy No, Fed hike plus more, ECB prob dovish would equal the lows should have been broken.

We trade exepectiobs and then possibly the Facts which I felt would have taken it .046x. At least.

Well there went a bad trade as I didn't manage my gains well holding onto my map. Never saw a
300 point retrace or pullback in the works.

Sigh....days like these I just want to quit trying as I lack any intellect on these kind of moves
  • #145,987
  • Dec 5, 2016 1:49pm Dec 5, 2016 1:49pm
Quoting IMARICH1
... Sigh....days like these I just want to quit trying as I lack any intellect on these kind of moves
Don't sweat it!!!. Was a beautiful short squeeze. Admire it !!! and learn from the very smart money that zizgaged it.

If you got caught on the handle this time is because you stops were placed for a short term swing while the potential move is the mid term extension. You should be trading on nearly zero risk already (+4 chances from the top of the range .... ) and if its just the reminder what was stopped out ....who cares? Try again if the conditions in your trading plan give you th go ahead....

sisse
Pending conversations? PM for a chat...I am mainly in OTM now
  • #145,988
  • Dec 5, 2016 1:57pm Dec 5, 2016 1:57pm
I appreciate the condolescence for my dead trade now. I'm too afraid to jump back in as it could go to .097x

i dont feel like i know how far this swueeze is going. No sense jumping in again for the LOW when it could go higher. Positioning for this kind of move is tuff. Where do you position for it?

Could this move be just a wick for the week? Possible. I actually lost on this trade as I added back at .067x. My error was not taking my profit from at least one of positions to manage rewards. I was managing all risk.
  • #145,989
  • Dec 5, 2016 2:02pm Dec 5, 2016 2:02pm
Quoting IMARICH1
I appreciate the condolescence for my dead trade now. I'm too afraid to jump back in as it could go to .097x i dont feel like i know how far this swueeze is going. No sense jumping in again for the LOW when it could go higher. Positioning for this kind of move is tuff. Where do you position for it? Could this move be just a wick for the week? Possible. I actually lost on this trade as I added back at .067x. My error was not taking my profit from at least one of positions to manage rewards. I was managing all risk.
Very possible.
  • #145,990
  • Dec 5, 2016 2:05pm Dec 5, 2016 2:05pm
Quoting IMARICH1
I appreciate the condolescence for my dead trade now. I'm too afraid to jump back in as it could go to .097x i dont feel like i know how far this swueeze is going. No sense jumping in again for the LOW when it could go higher. Positioning for this kind of move is tuff. Where do you position for it? Could this move be just a wick for the week? Possible. I actually lost on this trade as I added back at .067x. My error was not taking my profit from at least one of positions to manage rewards. I was managing all risk.
If you are afraid just close you trading platform and come back next year.

The squeeze is over with the close. There is nothing to squeeze any longer. Anything above the mid 1.08xx is just wrong direction call from your side.

You entered 1.067x with stops 1.073x for a swing with max target 0.98 (60 ticks stops for +800 ticks on a expensive tickets area...a bit disproportioned don't you think?) and a natural stop at (where is the natural stop?). Short term swing with mid term levels or mid term swing with short term levels.... which one is the problem?

sisse
Pending conversations? PM for a chat...I am mainly in OTM now
  • #145,991
  • Dec 5, 2016 2:12pm Dec 5, 2016 2:12pm
I guess both. I can't understand how we had a 300 pip squeeze from the bulls even in a short term swing within the midterm swing. Doesn't make sense.

How do you know squeeze is over? I don't. I have confidence in you but not in me and that's why I hate my trading FA. That's what makes me ignorant as I have no confidence it's over.

NaTURAL Stop should be about 100 pips and I would have stil been stopped out.

What makes you sure? I mean who is to say .076x isn't Bull territory for another run up of 200 pips to my infamous .097x?

Very frustratiting that I finally thought I had a clue and then it's gone. I almost think I need to start taking off capital every 70/80 pips. I did way better in your exercises. It gave me legs! I was actually able to swim in the shallow end of the pool without swimmies( inflatable floatation devices on your arms) on.
  • #145,992
  • Dec 5, 2016 2:25pm Dec 5, 2016 2:25pm
Quoting sisse
The squeeze is over with the close. There is nothing to squeeze any longer. Anything above the mid 1.08xx is just wrong direction
consider it a gift.

https://www.bloomberg.com/news/artic...e-era-of-trump

I have heard about this USD shortage. If the Trump regime enacts a lighter repatriation tax, USD shortage overseas would be exacerbated, no? Not sure fiber the best place to trade USD strength, but if that's your poison - the scenario would play out across the board. Throw in a jittery political scene in the EZone.....well,.....yes, Merry Christmas.......
"If The Fool persists in his Folly he will become wise." - William Blake
  • #145,993
  • Dec 5, 2016 2:52pm Dec 5, 2016 2:52pm
Kudos @sisse wasn't sure you had those words in you
  • #145,994
  • Dec 5, 2016 2:54pm Dec 5, 2016 2:54pm
Quoting IMARICH1
Sigh....days like these I just want to quit trying as I lack any intellect on these kind of moves
suck it up cupcake. shit happens, it aint the end of the world

Inserted Video
  • #145,995
  • Dec 5, 2016 3:08pm Dec 5, 2016 3:08pm
Lol. Thanks Pharm0r. Just frustrated I lost a lot of gains thinking I had traded this well. No Christmas this yr for kids. Lol. Just kidding.

I am thinking .0835 gets a look but prob shouldn't hold out for that. sisse said stops are naked. Meaning for the .0800 handle or below?

And, I loved Guns and Roses. Made a lot of students mad in my dorm when I jammed out to it and Sweet Child of Mine!
  • #145,996
  • Edited 3:49pm Dec 5, 2016 3:19pm | Edited 3:49pm
Quoting IMARICH1
I guess both. I can't understand how we had a 300 pip squeeze from the bulls even in a short term swing within the midterm swing. Doesn't make sense. How do you know squeeze is over? I don't. I have confidence in you but not in me and that's why I hate my trading FA. That's what makes me ignorant as I have no confidence it's over. NaTURAL Stop should be about 100 pips and I would have stil been stopped out. What makes you sure? I mean who is to say .076x isn't Bull territory for another run up of 200 pips to my infamous .097x? Very frustratiting...
Man all you need to do was to stick to the trade mgmt map that sisse just reposted, not take off every 70/80 or whatever pips as soon as you see them. That's all I needed to do too. Didn't. Iterations are easy like demo. Every real $ fu makes me stronger and more convicted. And as long as you don't give in to the "frustration" and bail on it, (which really just amounts to not sticking to a plan that you believe can work) then you're stronger because of your mistakes as well.
  • #145,997
  • Dec 5, 2016 3:49pm Dec 5, 2016 3:49pm
Very true goosebone. I just hate I lost on this trade as I profited so well until I didn't.

All the best. Will take another shot at it.
  • #145,998
  • Dec 5, 2016 3:53pm Dec 5, 2016 3:53pm
Quoting IMARICH1
sisse said stops are naked. Meaning for the .0800 handle or below?!
He meant Pharm0r's stops.
  • #145,999
  • Dec 5, 2016 3:55pm Dec 5, 2016 3:55pm
Quoting IMARICH1
Lol. Thanks Pharm0r. Just frustrated I lost a lot of gains thinking I had traded this well. No Christmas this yr for kids. Lol. Just kidding. I am thinking .0835 gets a look but prob shouldn't hold out for that. sisse said stops are naked. Meaning for the .0800 handle or below? And, I loved Guns and Roses. Made a lot of students mad in my dorm when I jammed out to it and Sweet Child of Mine!
That's the cost of an expansive ticket or a trade on momentum besides the leg itself is mapped in the wrong timeframe maybe .
Myself , I had a counter trend trade mid November in addition to the sell trades in larger Tfs. I can get emotional when it comes to 200-300 pips which fade from my P/L but that's how it is . A full boat won't run at top speed.

Quoting hoom
{quote}.... I would like to play the reverso short term for today's roll , Buy lmt 1.061x , TP1 1.072x TP2 1.083x // STP 1.051x ...
you can see how I got s/o by few ticks although TP1 is reached today , also my timing was bad as to look for a retrace of the swing low from 1.129x to 1.05xx
I didn't factor the mid term swing that was in full motion at the time .
Now that short squeeze is part of the game so mid term tickets should not count if you got in at the right levels .
You traded short term leg assuming [like most of us] that 1.05xx handle would give away and nothing is wrong with that in term of direction and expectations . I did the same but with lower SL and TPs as it is on lower Tfs. If it's a losing trade it should have minimal impact in your account/emotions that is . Keep doing the great work and let market do its tricks from time to time .
Get Rich or Die Tryin
  • #146,000
  • Dec 5, 2016 4:00pm Dec 5, 2016 4:00pm
Open challenge to all senior members here.. Euro bulls are very serious..should reach at least 1.09/1.0950.

1.05 and below is out of scope till fed.

I'm aiming for 1.1030 in coming days.
When Scalpers win, I lose and Vice varsa...
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