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The Really Useless Thread

  • #148,781
  • Mar 21, 2017 5:18pm Mar 21, 2017 5:18pm
Quoting Pharm0r
Going by mofu rules, if we make a higher high, based on the path from 1.03403 to 1.08288 that will open up a trip back to 1.05854 and a target to 1.1320. 1.0859 is where that higher high would often be marked at...which is (of course) right below the upper mofu 1.08664. Unfortunately that higher high would still be in the norm path I originally traded which shoots for 0.9894. So there's probably some wtf and some big question marks in my future if/when we make a higher high and go back to 1.0585. Being we are bearish outlook- I'll have to stick...
Are you missing the high from the spike 8th of December in your chart?
Attached Image (click to enlarge)
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Trading in the shadow of SM
  • #148,782
  • Mar 21, 2017 5:22pm Mar 21, 2017 5:22pm
Quoting Earleone
{quote} Are you missing the high from the spike 8th of December in your chart? {image}
Vertical date line covers the wick
  • #148,783
  • Edited 8:49pm Mar 21, 2017 5:37pm | Edited 8:49pm
Quoting Pharm0r
{quote} {quote} Correct me if I'm wrong, for the ST map- if we extend the highs but dont close above the high set on 2/2 then bearish If we close the high set on 2/2 bullish- with the high set on 12/8/16 next up to bat
Thats the way I'm looking at it.
So if 1.087x pops then what? Got to be a stop or two perched there. Watch for the old standard 1.0964? I don't have too much between anyway.
  • #148,784
  • Mar 21, 2017 7:09pm Mar 21, 2017 7:09pm
Quoting goosebone
{quote} Thats the way I'm looking at it. So if 1.087x pops then what? Got to be a stop or two perched there. Watch for the old standard 0964? I don't have too much between anyway.
I dunno man, def some strong hands sitting there. May fuel a serious run up
  • #148,785
  • Edited 8:12pm Mar 21, 2017 7:54pm | Edited 8:12pm
If .0835 doesn't hold; then, .087x. If that blows then the infamous .097x haunts me again.

I played a Short from .063x to .0510 and cashed out. Then, Long from .0640 to .0760. In profit, took another long at .0710 to current looking for .083x or .0870 but trailing. I hate losing my profit like Pharm0r stated. Done this too much. I've change my strat now as it's better to make some then none.
  • #148,786
  • Edited 8:50pm Mar 21, 2017 7:57pm | Edited 8:50pm
Quoting IMARICH1
If .0835 doesn't hold; then, .087x. If that blows then the infamous .097x haunts me again. I played a Short from .063x to .0510 and cashed out. Then, Long from .0640 to .0760. In profit, took another long at .0680 to current looking for .083x or .0870 but trailing. I hate losing my profit like Pharm0r stated. Done this too much. I've change my strat now as it's better to make some then none.
Nice trades. Good on ya.
  • #148,787
  • Mar 21, 2017 8:55pm Mar 21, 2017 8:55pm
Thanks goosebone! I only have one trade open. A Long from .0710. Looking to take profit at .0835 or .087x. Just not sure.

My biggest problem besides getting a good position is managing a winning position. So many times, I hold it for so long being patient and then losing all my profit and breaking even or losing stop amount.

I wish we had more exercises on Timing, Positioning, and Managing.

I had FXCM until their fiasco. Now, my acct was transferred to GAIN or Forex.com.
  • #148,788
  • Mar 21, 2017 9:29pm Mar 21, 2017 9:29pm
Quoting IMARICH1
Thanks goosebone! I only have one trade open. A Long from .0710. Looking to take profit at .0835 or .087x. Just not sure. My biggest problem besides getting a good position is managing a winning position. So many times, I hold it for so long being patient and then losing all my profit and breaking even or losing stop amount. I wish we had more exercises on Timing, Positioning, and Managing. I had FXCM until their fiasco. Now, my acct was transferred to GAIN or Forex.com.
I hear you. My problem too. When I have successfully pulled it off like it was spelled out in the trade management discussion here in the thread (maybe once I had a real good run without giving in to the chicken on my right shoulder or the pig on my left), that has been the most fulfilling and stress free experience I've ever had with trading. So I try to focus on sticking to those rules. But sticking to rules is easy to talk, harder to walk.
  • #148,789
  • Mar 21, 2017 10:40pm Mar 21, 2017 10:40pm
Quoting goosebone
{quote} I hear you. My problem too. When I have successfully pulled it off like it was spelled out in the trade management discussion here in the thread (maybe once I had a real good run without giving in to the chicken on my right shoulder or the pig on my left), that has been the most fulfilling and stress free experience I've ever had with trading. So I try to focus on sticking to those rules. But sticking to rules is easy to talk, harder to walk.
In the same boat. I've done well in the mid and long term trades. But for me, these ST moves prove to be more challenging to see the exit/change in direction/etc. I could use some guidance on the ST timing and management of trades.

I will say that what I have absorbed from Sisse, you (goosebone), pharm0r, chester, earleone, and IMARICH1 has carried over into my equity/futs trading. For that I am grateful for all of which you have shared, questioned, or even shown frustration.
  • #148,790
  • Mar 22, 2017 4:52am Mar 22, 2017 4:52am
Asia going home and Europe opening range with heavy trading in global Equities following the US selloff yesterday.

Nothing really out of the ordinary in all except in FTSE that these next few weeks have a few other weights on top (RMT and Brexit) of the global factors. For now, not expecting to trip over beyond profit taking but keeping an extremely close eye on 736x.xx for the Q close as its the only level in play for the long/mid and now even short term swings....

On the FX board, all subdue to the selloff in Equities but expecting NY to trigger soft continuation for the rest of the week...

sisse
Pending conversations? PM for a chat...I am mainly in OTM now
  • #148,791
  • Mar 22, 2017 7:29am Mar 22, 2017 7:29am
Quoting Earleone
{quote} Are you missing the high from the spike 8th of December in your chart? {image}

When you look at the naked chart without FA , 1.1140 even 1,13xx ish looking possible. Then everbody say it was so simple tobo...and prayes to long over 1,870.
  • #148,792
  • Edited 7:56am Mar 22, 2017 7:40am | Edited 7:56am
Quoting Traderak
{quote} When you look at the naked chart without FA , 1.1140 even 1,13xx ish looking possible. Then everbody say it was so simple tobo...and prayes to long over 1,870.
All is possible. But I dont think EURO bulls manage to take it up above there ( 0870 ) Look also Hoom's post from yesterday that I very much agree with. I have a flip above 1.0870 on weekly and if price establish above I will possible go flat. Have taken some pain. Possible more to come but if so I can take it for a period.
Trading in the shadow of SM
  • #148,793
  • Mar 22, 2017 7:47am Mar 22, 2017 7:47am
http://www.politico.eu/article/in-fi...to-blast-euro/
  • #148,794
  • Mar 22, 2017 7:58am Mar 22, 2017 7:58am
Quoting Traderak
{quote} When you look at the naked chart without FA , 1.1140 even 1,13xx ish looking possible. Then everbody say it was so simple tobo...and prayes to long over 1,870.
I would say the current range hasn't changed from 1.0870 : 1.0340 with the mid point being around 1.0600.
Without a significant event happening to break the range then price will gravitate back towards the mid point.
As Sisse highlighted in recent posts the fundamentals point towards a stronger dollar and weaker euro in the near term so if the range was going to break my money would be on a downside break. But again I still think a significant event is needed short term to break the range i.e. French elections, faster rate rises in the US.
I don't think a break of 1.0870 is on the cards until later in the year when the EU start to discuss tapering and possible rate rises coupled with a dovish Fed and the US maybe not raising rates as fast as the market expects.
  • #148,795
  • Mar 22, 2017 8:14am Mar 22, 2017 8:14am
Quoting goosebone
http://www.politico.eu/article/in-fi...to-blast-euro/
There are only 2 options : the guy who wrote this is stupid or dishonest. Leaving European Union and dropping Euro currency, through a referendum, is still her main goal if she is elected ("getting full sovereignty back"). She talked about it again monday evening during the first TV debate, briefly yes but she did.
  • #148,796
  • Edited 8:33am Mar 22, 2017 8:22am | Edited 8:33am
Quoting Replicant
{quote} There are only 2 options : the guy who wrote this is stupid or dishonest. Leaving European Union and dropping Euro currency, through a referendum, is still her main goal if she is elected ("getting full sovereignty back"). She talked about it again monday evening during the first TV debate, briefly yes but she did.
Good to know. It is politico after all. There's a few other sources reporting similar re: backing off on Euro but I couldn't find one with more cred than politico so I figured a grain of salt is required here. Thanks.
  • #148,797
  • Mar 22, 2017 8:33am Mar 22, 2017 8:33am
Quoting goosebone
{quote} Good to know. It is politico after all. There's a few other sources reporting similar re: backing off on Euro (not referendum) but I couldn't find one with more cred than politico so I figured a grain of salt is required here. Thanks.
Her full programme is there (I had to use gloves for the copy/paste) :
https://www.marine2017.fr/2017/02/04...marine-le-pen/
144 commitments and Leaving EU and dropping Euro currency is just ... ranked #1. It's the cornerstone of her program ... This journalist is everything but a journalist.
Edit : She even said she will resign if referendum fails.
  • #148,798
  • Mar 22, 2017 9:14am Mar 22, 2017 9:14am
Equities struggling on the open....watch-out for Euro taking the highs with the FIX.

Important updates from sisse coming on the close today ...

sisse
Pending conversations? PM for a chat...I am mainly in OTM now
  • #148,799
  • Mar 22, 2017 11:35am Mar 22, 2017 11:35am
Europe going home with a short standby in the flows with London news still fresh and not completely cleared. Soft preemptive risk off triggered (expected to be very short-lived) with the usual Gold and Yen benefiting.

As usual in this kind of events, tracking tangentially what is going in London, in case it trigger something market moving or something else happens (not expected for now). US equites look extremely tired and without some kind of help from somewhere we are set for a deeper correction.

sisse
Pending conversations? PM for a chat...I am mainly in OTM now
  • #148,800
  • Mar 22, 2017 11:42am Mar 22, 2017 11:42am
Quoting suntan
{quote} I would say the current range hasn't changed from 1.0870 : 1.0340 with the mid point being around 1.0600. Without a significant event happening to break the range then price will gravitate back towards the mid point. As Sisse highlighted in recent posts the fundamentals point towards a stronger dollar and weaker euro in the near term so if the range was going to break my money would be on a downside break. But again I still think a significant event is needed short term to break the range i.e. French elections, faster rate rises in the US....
As choose your position it is ok sell high in the term range. May be ranging usd...but where is strong usd? when you compare last 3-4 months; usdmxn, usdtry, xauusd, usdjpy...if I have to say dollar side may be neutral. I see timeframe we look is different.
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