The Really Useless Thread | Page 7406 | 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

  • #148,101
  • Mar 3, 2017 10:09am Mar 3, 2017 10:09am
Quoting sisse
{quote} You maybe getting too close to the market ...its a 2 years major low (currently 7th major test in the same period ) that unlocks 15 year old levels. Let me ask you a question right now before NY: What do you think has more odds for today's close: 1a. 'This is a trap, shorts are trapped and getting spank' Euroto close above 1.061x in a one major engulfing bullish candle. 1b. 'Nay just noise, there is nothing to see here' Euro to close around 1.061x until NFP and FED hikes 1c. 'This is just a mini 'dead cat bounce' before the hikes capitulation...
1C.US front is good unless some tweet or action come out
  • #148,102
  • Edited 10:38am Mar 3, 2017 10:23am | Edited 10:38am
I would have picked b.

I rather buy stocks under valued first. I like to see a test of support or where base is before jumping in.

There may be a trick to it and buying any IPO.

As for EU I am waiting for .061x or close to it to come into play to scale in. I did go after the break of .051x which is something I would do in the past.

I am trying to manage profits now. Won't take a position, regardless if I am late, as it has to have a good r:r for me.

I figured it would run w Bulls and get set set up for NFP whilesqueezing those holding shorts.
  • #148,103
  • Mar 3, 2017 10:44am Mar 3, 2017 10:44am
Quoting hoom
{quote} yep 29.x already !
Yup, got few scalps yesterday and today, pretty sandbox for scalping/and hold.

Adding now UJ along to GJ to upside view. 141 for GJ(previous post), UJ first one 115.2X , will be fishing next week for.
  • #148,104
  • Mar 3, 2017 11:57am Mar 3, 2017 11:57am
the slightest dovish hint from Yellen would result in a nasty last minute move IMO .
Get Rich or Die Tryin
  • #148,105
  • Mar 3, 2017 11:58am Mar 3, 2017 11:58am
Fasten your seatbelts ... Fingers crossed
Re-Incarnated
  • #148,106
  • Mar 3, 2017 12:01pm Mar 3, 2017 12:01pm
Might be able to do this one without a seat belt.
Turning off the live feed til she finishes her lunch. Feels impolite.
  • #148,107
  • Mar 3, 2017 12:03pm Mar 3, 2017 12:03pm
Quoting goosebone
Might be able to do this one without a seat belt.
Seems like that but safety first
Re-Incarnated
  • #148,108
  • Mar 3, 2017 12:06pm Mar 3, 2017 12:06pm
Yellen confirming hawkish FED.... NFP is the actual trigger before the meeting...

Watch-out Euro 1.057x for those tracking the current flow...

sisse
Pending conversations? PM for a chat...I am mainly in OTM now
  • #148,109
  • Mar 3, 2017 12:06pm Mar 3, 2017 12:06pm
Yellen wants data to be good till 15 March , data has been more than good lately so I am not sure at what numbers exactly they might be looking for , euro wants to hammer bears in a rush with the close !
Get Rich or Die Tryin
  • #148,110
  • Mar 3, 2017 12:36pm Mar 3, 2017 12:36pm
Quoting sisse
{quote} Final call in SNAP ....,.
Some of you guy own me a few beers .... sisse with the Midas touch this week...flawless 20% return trade in SNAP ++20% trade ...well done if any of you caught it, one way or the other.

@Earleone, Pharm0r, Replicant you are already in the shortlist for the portfolio stage that is coming very soon. @cashfacto don't know you, you are new in these boards. Lets chat and read your comments in the next few days/weeks and after I will invite you to the exercise ....

sisse

a. Buy MKT @ $24.5 [uber chek] targeting a return of TP1 (10%) => $26.9x [check] => TP2 (20%) $29.4x[scary uber check ] STPs 3% below the lows of the range.

Earleone

Pharm0r

Replicant

cashfacto


b. Buy LMT 10% below @$22.x0 targeting TP1 (22%) => $26.9x => TP2 (34%) $29.4x STP 5% below

hoom

goosebone

SorinAQ

roobii

Tinytrader

Grinsakh


c. Nothing to see here. Play a compression of volatility neither $26.5x or the bottom $23.0x of the opening range will be taken in the next month (risking 4% for 8% return).

nutts

Pending conversations? PM for a chat...I am mainly in OTM now
  • #148,111
  • Mar 3, 2017 12:37pm Mar 3, 2017 12:37pm
All the best guys this lady won't give us easy money ..
Happy weekend to all it was a nice week with a little bit of disappointment In the last 5 hours ...
Re-Incarnated
  • #148,112
  • Mar 3, 2017 12:45pm Mar 3, 2017 12:45pm
Quoting primejarvis
All the best guys this lady won't give us easy money .. Happy weekend to all it was a nice week with a little bit of disappointment In the last 5 hours ...
Look at the weekly closings

most likely EU neutral
but UJ and AU and dollar* set to kill some important ranges

Great set up for an inline/good NFP next week, only a major flop to kill the train
  • #148,113
  • Mar 3, 2017 12:52pm Mar 3, 2017 12:52pm
Quoting Pharm0r
{quote} Look at the weekly closings most likely EU neutral but UJ and AU and dollar* killed some important ranges Great set up for a good NFP next week
Let's C ..
But I was thinking of a momentum play in accordance ... The market seems playing with very very important level right now ... And I won't be surprise if we start rolling down as a simple tweet or leak will do the trick ... Rest patience is the keyword ...
Re-Incarnated
  • #148,114
  • Mar 3, 2017 1:10pm Mar 3, 2017 1:10pm
sisse,

How did you know? Is this typical for an IPO? Congrats! Looks like I may get my .0610 but now I am psyching myself out that this may be a longer squeeze until NFP.
  • #148,115
  • Mar 3, 2017 1:19pm Mar 3, 2017 1:19pm
kind of irrational moves across the board with hike odds surging to the top. :/ seems as a nasty micro flow short squeeze. 61 should be max technically.
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 19 KB
  • #148,116
  • Edited 1:44pm Mar 3, 2017 1:29pm | Edited 1:44pm
Quoting sisse
{quote} Some of you guy own me a few beers .... sisse with the Midas touch this week...flawless 20% return trade in SNAP ++20% trade ...well done if any of you caught it, one way or the other. @Earleone, Pharm0r, Replicant you are already in the shortlist for the portfolio stage that is coming very soon. @cashfacto don't know you, you are new...
Congrats. Good call all you day traders. Maybe a record for fastest iteration yet.

Added a little seasoning at 605. Full disclosure, the way i see it with USA rules FIFO I needed to do some careful math to adjust the risk management on the position. New stop is 685 for an avg. entry at 630. New tp1 at 518 works.
  • #148,117
  • Mar 3, 2017 1:44pm Mar 3, 2017 1:44pm
Nice clearing in Euro at the closing range after FED triggering "hikes as done deal" from today close. Very choppy and noisy range continue with a rather v. choppy week in the Euro. Tracking 1.057x for the roll...

sisse
Pending conversations? PM for a chat...I am mainly in OTM now
  • #148,118
  • Mar 3, 2017 2:00pm Mar 3, 2017 2:00pm
Quoting chester123
kind of irrational moves across the board with hike odds surging to the top. :/ seems as a nasty micro flow short squeeze. 61 should be max technically. {image}
We could't break early in the week ...remember this conversation:

Quoting sisse
No for real, definitely 1.051x held very strong. On the TA side alone, the bad news is that everybody including most lagging retail will have now that level marked as key.
That pretty much killed the break and cleaned the map top to bottom in the hands of very large hands trading at these levels. Also and more than probably with today's close at these levels, we have been unable to lock 1.087x since Dec which is a pain in the ass TA wise.

More importantly and beyond the TA part, we had a plethora of solid numbers form the EZ with a very low risk week in the political front (Dutch and French elections shifted positively against the anti nationalist/populist/neonazi side...at least for this week). We got 3 major alerts (broke correlation with equities and later with FED flow via Dollar the most important this week) that the Euro is unhappy at these levels and the bottom is around the corner.

Let's see how it rolls...

sisse
Pending conversations? PM for a chat...I am mainly in OTM now
  • #148,119
  • Mar 3, 2017 2:01pm Mar 3, 2017 2:01pm
Quoting primejarvis
{quote} Free advice take it or leave it .... Kindly recalculate your position and direction ... Just a view
If I Would of taken your advice, I would have less 2000$+ usd equity in my account as of now.

Btw I added at 1.0560 area today ..

I need a close at 1.0610 (or above ) to really start feeling good.
Attached Image (click to enlarge)
Click to Enlarge Name: Image1.png Size: 6 KB
  • #148,120
  • Mar 3, 2017 2:05pm Mar 3, 2017 2:05pm
Quoting Bud Foxx
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}
Quoting sisse
{quote} We could't break early in the week ...remember this conversation: {quote} That pretty much killed the break and cleaned the map top to bottom in the hands of very large hands trading at these levels. Also and more than probably with today's close at these levels, we have been unable to lock 1.087x since Dec which is a pain in the ass TA wise. More importantly and beyond the TA part, we had a plethora of solid numbers form the EZ with a very low risk week in the political front (Dutch and French elections shifted positively against the anti...
Starting to like this trade more and more..
Euro just needs to clear that bi@tch 1.0610 level and 1.0630 (monthly pivot) to really start cooking
26 traders viewing now