The Really Useless Thread

Quoting Bud Foxx

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Its all about R:R Chancing a long at 1.0510 SL 100 pips TP at 1.1000 we had a 13 candle countdown (Demark) on the Monthly chart. When this countdown works it tends to spot a trend reversal ( We had also a 9 count during January 2015 which actually failed to reverse..) If it pans out we should get a run to 1.10 area Yes, it is counter trend and counter FA, but I think the market has already priced in the March hike and since everyone is on the boat to the same direction its going to tip over.. we need up before down. Good luck to all

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Quoting mrcreosote

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{quote} What's your SL on that? BTW that's a pretty poor spread; they must have some crooked brokers in Israel Edit: sorry just seen your SL must clean my glasses more often

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Quoting Bud Foxx

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{quote} Yes, 100 pips SL or 2500 USD And yes, the spreads and brokers here in Israel are pretty shitty since the whole Forex industry just recently (last year) came under regulation and there are only 5 licensed brokers as of now. But at least I have a physical address and offices to go to if needed, unlike some shady "global" bucket shops. I am actually from within the industry , worked as a chief dealer in several companies, and you really would not believe the stuff that goes on behind the scenes in most companies. {image}

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Quoting Bud Foxx

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Its all about R:R Chancing a long at 1.0510 SL 100 pips TP at 1.1000 we had a 13 candle countdown (Demark) on the Monthly chart. When this countdown works it tends to spot a trend reversal ( We had also a 9 count during January 2015 which actually failed to reverse..) If it pans out we should get a run to 1.10 area Yes, it is counter trend and counter FA, but I think the market has already priced in the March hike and since everyone is on the boat to the same direction its going to tip over.. we need up before down. Good luck to all {image}

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Quoting Earleone

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{quote} Are you planning to let it run to full profit or do you have partly targets on the way to final target? And whats the plan to lock in BE / move SL / Trail . I am worried about Nonfarm for you. Like it looks now I just wait for a kneejerk and think there will very possible be a change for outlook in E/U to neutral from the eur side during the near future even with the USD strength. Just not there yet. ( Inflation targets for ECB is met for first time in a long long time and good numbers from europe. Just the politic uncertainty with elections...

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Quoting sisse

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Europe going home with Euro sitting at 1.051x as more than widely expected and as only major market in play for the rest of the week. Keeping a very close eye in Gold for the commodities close that is about to unlock a zigzag play for the short term via risk on and FED hikes before the movers and shakers this Month. sisse

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Quoting chester123

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{quote} hm we have not discussed gold closely for some time. so just a shot - are u talking about something like this - on FED I see it as a corrective zigzag flow in short term buy outlook. {image}

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Quoting Bud Foxx

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{quote} Yes, 100 pips SL...

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Quoting Bud Foxx

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{quote} Well, if all goes well- Will close half at 1.0840 area. Then another half of remaining at 1.0920 area. the rest at 1.10 I might increase my stop to 150 pips (1.0360) , because i see a chance for 1.0380 spike.. (still will give r:r of about 1:3) Good luck everyone. Newbies- please don't follow me I might be wrong here, as I am wrong about half the time The key to staying profitable long term in this business is losing less when you are wrong than what you earn when you are right.

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Quoting chester123

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On G/U seems the macro stops on longs have been triggered (exactly where sisse spoted them from BoE) few minutes ago opening the low of the MT range. On E/U we set to loose 1,051x on D1 and extend the lows with the closing range hopefully. Finally we moving somewhere

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Quoting goosebone

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{quote} So far 510 hasn't felt like much of a threshold. Could be because of the previous test of it like sisse was saying. I still got eyes on breaking 490.

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Quoting sisse

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... Keeping a very close eye in Gold for the commodities close that is about to unlock a zigzag play for the short term via risk on and FED hikes before the movers and shakers this Month. sisse

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Quoting sisse

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While we wait for the FX close.... as we did a couple of years ago with FB, now with SNAP opening a quick portfolio iteration for those interesting in broadening the trading scope: SNAP closing $24.5 after the usual wild range on the first sessions of trading. If you want to load SNAP in a portfolio: a. Buy MKT @ $24.5 targeting a return of TP1 (10%) => $26.9x => TP2 (20%) $29.4x STPs 3% below the lows of the range. b. Buy LMT 10% below @$22.x0 targeting TP1 (22%) => $26.9x => TP2 (34%) $29.4x STP 5% below c. Nothing to see here. Play a compression...

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Quoting sisse

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While we wait for the FX close.... as we did a couple of years ago with FB, now with SNAP ...

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