The Really Useless Thread | Page 7312 | 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

  • #146,221
  • Dec 11, 2016 1:14pm Dec 11, 2016 1:14pm
Quoting sisse
Weekend news alerts for those in OIL. Watch-out Oil for a major swing after confirmation of deep cuts across OPEC and non OPEC and to put the cherry on top Trump picks Exxon CEO for secretary of State. The 'establishment' making a killer this month GS and Exxon ...what's next.... sisse
Just wondering if oil price can affect USD strength short term?
  • #146,222
  • Dec 11, 2016 5:18pm Dec 11, 2016 5:18pm
Wow oil at 54.49 (close friday 51.41)
  • #146,223
  • Dec 11, 2016 5:49pm Dec 11, 2016 5:49pm
Quoting ExForX
Wow oil at 54.49 (close friday 51.41)
Exhaustion Gap ? / couple of days will tell
  • #146,224
  • Dec 12, 2016 2:29am Dec 12, 2016 2:29am
Quoting Earleone
{quote} It is not working the same way as OCO orders that is something completely different. I was only interested to sell that was according to our short term outlook. Before the ECB news. I had 3 lines on my chart that was resistance levels and was close to be reached in a spike. With sellstop limit orders I created the following: if 1.0829 touched create Sellstop order at 1.0821 ( 8 pips below ) with SL 25 pips if 1.0852 touched create sell stop oder at 1.0842 ( 10 pips below ) with SL 30 pips 1.0952 touched create sell stop order at 1-0942 )...

Sometime ago i made a EA that does exactly what you describe above. I am not a EA builder or coder but i have found some software package that lets you build ea's without needing to learn how to code.

The ea goes as follows:

Put up to 4 lines on a chart and name them level1 level2 level3 and level4. those lines will automatically become the trigger for your buy/sell stop order.
Then you have to fill in a step for every level, this is the amount of pips between your trigger line and the stop order.
Then you have to choose the amount of orders that you want per trigger line, max is 10 orders (set al to true) min is 1 order (set pending 2 till 10 false and pending 1 true)

If you only want one level and one order then you have to set level1 true and level2,level3 and level4 to false. And only pending 1 true and the rest false.

Important is to always use a new magic number when opening new orders, the ea will open a order if there is already an open order with the same magic number, if you open 10 orders per level then you have to increase the magic number value's with 10 at a time,if you only open one order per level you only have to increase the magic number value wit one, if you play around with the ea on a demo account and look at the magic numbers in generates it will become all clear.
Attached File(s)
File Type: ex4 multibuy pending adapt.ex4   165 KB | 250 downloads
File Type: mq4 multibuy pending adapt.mq4   40 KB | 267 downloads
File Type: ex4 multisell pending adapt.ex4   164 KB | 241 downloads
File Type: mq4 multisell pending adapt.mq4   40 KB | 247 downloads
  • #146,225
  • Dec 12, 2016 3:20am Dec 12, 2016 3:20am
Quoting sisse
Weekend news alerts for those in OIL. Watch-out Oil for a major swing after confirmation of deep cuts across OPEC and non OPEC and to put the cherry on top Trump picks Exxon CEO for secretary of State. The 'establishment' making a killer this month GS and Exxon ...what's next.... sisse
Clearing question, when you talk about Oil levels, is it XBR or XTI?
  • #146,226
  • Dec 12, 2016 3:49am Dec 12, 2016 3:49am
Earleone or Anyone, do you know of an EA, whereby for example if I've a long on EU from 1.0530 where it's in profit now for 60 pips, and what I want is to set a pending buy limit at 1.0550, but the 1.0550 buy limit only triggers if I hit my take profit at 1.0600 first.
So if price goes down to 1.0550 it doesn't trigger a buy limit because my take profit didn't hit at 1.0600.
  • #146,227
  • Dec 12, 2016 4:03am Dec 12, 2016 4:03am
Quoting Vorex
Earleone or Anyone, do you know of an EA, whereby for example if I've a long on EU from 1.0530 where it's in profit now for 60 pips, and what I want is to set a pending buy limit at 1.0550, but the 1.0550 buy limit only triggers if I hit my take profit at 1.0600 first. So if price goes down to 1.0550 it doesn't trigger a buy limit because my take profit didn't hit at 1.0600.
The FXblue alarm manager I refered to earlier you can do this with ( it is EA that fxbluelabs only make available to brokers and that brokers give out to some of their customers) So check with your broker if they have this solution from fxbluelabs. Also this way that you describe is the official way to use buystop and sellstop limit orders that is supported in Metatrader 5 and also in Ninjatrader.

 

  1. Buy Stop Limit this type is the combination of the first two types, being a stop order to place a Buy Limit order. As soon as the future Ask price reaches the stop-level indicated in the order (the Price field), a Buy Limit order will be placed at the level, specified in Stop Limit price field. A stop level is set above the current Ask price, while Stop Limit price is set below the stop level.
  2. Sell Stop Limit this order is a stop order to place a Sell Limit order. As soon as the future Bid price reaches the stop-level indicated in the order (the Price field), a Sell Limit order will be placed at the level, specified in Stop Limit price field. A stop level is set below the current Bid price, while Stop Limit price is set above the stop level.

Trading in the shadow of SM
  • #146,228
  • Dec 12, 2016 4:48am Dec 12, 2016 4:48am
Quoting Earleone
{quote} The FXblue alarm manager I refered to earlier you can do this with ( it is EA that fxbluelabs only make available to brokers and that brokers give out to some of their customers)
Ok, I'll have a look at it and check with my broker, Thank you.
  • #146,229
  • Dec 12, 2016 6:44am Dec 12, 2016 6:44am
What Trump's Stimulus Plans Mean For The Economy And The Fed https://seekingalpha.com/article/4029845?source=ansh
  • #146,230
  • Dec 12, 2016 10:26am Dec 12, 2016 10:26am
Decent micro short squeeze on UCAD /Oil, looking for long UCAD.
  • #146,231
  • Dec 12, 2016 10:52am Dec 12, 2016 10:52am
https://www.yahoo.com/finance/news/t...093857804.html

The Trump Pivot - China bad/Russia good. Aggressive protectionism will not work, but it could take a long while for that to become apparent. Protectionism will be inflationary, will be interesting if the Fed Heads tip to that in the dot plot.
"If The Fool persists in his Folly he will become wise." - William Blake
  • #146,232
  • Edited 12:18pm Dec 12, 2016 11:32am | Edited 12:18pm
Quoting The Fool
China bad/Russia good.
I bot RSX Jan20 $24 calls for 3 centavos. Trend ya friend till da trend end.

....bot some $23 calls for 8c, too...(filled at 11c, np, RSX could trend to >$25 before the end of year and 11c could pay >$2.00.)
"If The Fool persists in his Folly he will become wise." - William Blake
  • #146,233
  • Dec 12, 2016 12:03pm Dec 12, 2016 12:03pm
Europe going home with in a very moving day. As widely expected OIL rock the commodity board pretty much in trading range to complete leg $56.xx any 'minute' but more importantly the news combo the last few days is vey bullish unlocking the extension $63.xx which is key FA resistance and triggering 'choose your poison time' for the Energies close today.

Also very important shakes in the currency board. Inflation expectations cracking deep in the UK and Sterling* expectations are rapidly shifting to the BOE that is officially stuck in the major CB cluster fck in a develop economy in a while for next year (expecting very wide volatile in the Pound in 2017 ...but that is for 2017). Important updates for the close today:

--> Changing mid term outlook in Sterling* from sell to neutral.
--> Changing short term outlook in Sterling (GU) from soft neutral to neutral.
--> Changing mid term outlook in EG from buy to neutral
--> Changing short term outlook in EG from neutral to soft sell

Also lots of movement in the Euro for the European close triggering for the 3 time in two weeks 'choose your poison time' for the short term leg of the swing.

On therest of the board Bonds getting hammered since US elections and we have major early signal with Treasuries triggering major imminent break down alerts . Even if you don't trade them, keep a VERY VERY VERY close eye there as a break will cause a major shake across the board and world ...

Finally, Equities very slowly enjoying good news in the short term from every front including inflation expectations. They will stay in easy ride mode until the FED... until then nothing to do but profit taking and aggressively trailing remaining positions before the FED close 2016.

Lots of actions and markets core components are moving in the background anticipating major legs in the making .... Tracking v. closely todays close in Euro and Oil as we are set for a 'roll' plays pre FED.

sisse

Quoting The Fool
... The Trump Pivot - China bad/Russia good. Aggressive protectionism will not work, but it could take a long while for that to become apparent. Protectionism will be inflationary, will be interesting if the Fed Heads tip to that in the dot plot.
The more I read, the gloomier the outlook it gets for next year.

The UK is set to get a full blow. Trump is in the borderline of dangerous and he hasn't even start yet. His team selection and initial economic and foreign policy plans are the quintessential recipe for a sharp short term rally via inflation and fiscal irresponsibility but a recipe for disaster beyond some very privilege sectors in the mid term.

Inflation, protectionism, conflict and even war are knocking at the door for 2017 ... for now FED first ...

sisse
Pending conversations? PM for a chat...I am mainly in OTM now
  • #146,234
  • Dec 12, 2016 12:23pm Dec 12, 2016 12:23pm
Quoting sisse
Treasuries triggering major imminent break down alerts . Even if you don't trade them, keep a VERY VERY VERY close eye there as a break will cause a major shake across the board and world ...
I had to get out of all TLT spreads today - entered around $132 ~2 mo ago and rode $117 and $118 Dec/Jan call calendars all the way down to paydirt at avg about 8 bag. Treasurys sold off even harder than I thought they would.....as usual, just wish I had put more on that move....
"If The Fool persists in his Folly he will become wise." - William Blake
  • #146,235
  • Dec 12, 2016 12:30pm Dec 12, 2016 12:30pm
Quoting sisse
Trump is in the borderline of dangerous and he hasn't even start yet. His team selection and initial economic and foreign policy plans are the quintessential recipe for a sharp short term rally via inflation and fiscal irresponsibility but a recipe for disaster beyond some very privilege sectors in the mid term. Inflation, protectionism, conflict and even war are knocking at the door for 2017 ... for now FED first ... sisse
there are trap doors to Hell all along the path going forward, but I am mostly looking for risk-off trends to get cooking somewhere beyond the Inauguration. Cheap tickets available now, raising cash but not yet quite loading up....
"If The Fool persists in his Folly he will become wise." - William Blake
  • #146,236
  • Dec 12, 2016 1:21pm Dec 12, 2016 1:21pm
Wonder how the various proposed changes to the Fed that run from stricter transparency rules all the way to congressional oversight will affect how dollar expectations work. Worth considering now that the elephant has total domination over all branches and any chance of a veto on that will leave on the last donkey out of town. If hard fast rules for FFR are implemented I guess nfp and all the reports that make up the equation replace fed meetings as the moments of truth. If it all morphs into a bunch of audits and hearings by Congress it's messier. And forex traders will be forced clockwork orange style to watch CSPAN all night. There are worse fates... I think.
  • #146,237
  • Dec 12, 2016 2:45pm Dec 12, 2016 2:45pm
Very active Euro the last two couple of weeks and we are reaching boiling point. Very large hands at these levels, we are going to have some very sharp action for year's end.

Choose your poising time confirmed in OIL for those looking to clear, add or jump in.... Tracking Euro for the roll today too..

Quoting The Fool
{quote}there are trap doors to Hell all along the path going forward, but I am mostly looking for risk-off trends to get cooking somewhere beyond the Inauguration. Cheap tickets available now, raising cash but not yet quite loading up....
I hear you ... same map here ...

sisse
Pending conversations? PM for a chat...I am mainly in OTM now
  • #146,238
  • Dec 12, 2016 2:53pm Dec 12, 2016 2:53pm
I held my short positions at .072x and .0650. Added one more at .0625.

Concerned as I was wanting a close under .0610.

Is the short term leg in EU MEANING a run higher? This is where I struggle. Maybe I should have closed at .053x to reload and manage reward as opposed to capital. Never get this right.
  • #146,239
  • Dec 12, 2016 3:18pm Dec 12, 2016 3:18pm
Quoting IMARICH1
...Never get this right.
....'cause its hard to know what leg you are trading. Are you in the ECB flow? in the short term swing? in the mid term swing?... clearing, adding or managing depends on context ....check the managing risk and positions posts for reference ...

sisse
Pending conversations? PM for a chat...I am mainly in OTM now
  • #146,240
  • Dec 12, 2016 3:22pm Dec 12, 2016 3:22pm
Quoting IMARICH1
I held my short positions at .072x and .0650. Added one more at .0625. Concerned as I was wanting a close under .0610. Is the short term leg in EU MEANING a run higher? This is where I struggle. Maybe I should have closed at .053x to reload and manage reward as opposed to capital. Never get this right.
Try this maybe: in heavier at your entry (in this case 725) take some off at tp1 (625) to reduce risk, cover all/most of the stop. If you see 725 again reload for better r:r. So you bite your nails a bit at the beginning, sometimes lose it all but as long as you don't risk too much it doesn't kill you and you are set up to do it over and over again in chop or win right away in a sweep with little or no risk. Lots of ways to do it of course. I learned that one here in the posts sisse mentioned. It's turned around my trading and my stress level surrounding it honestly. Now if I could just learn how to stop jumping ship on a good trade I might be in biz.
82 traders viewing now