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The Really Useless Thread

  • #151,021
  • May 8, 2017 3:49pm May 8, 2017 3:49pm
Quoting Pharm0r
would really like sisse's take on it as well...we've yet to dive into crosses as a thread. But I don't see it being effected via any external factors except risk (like JPY in general). Seems almost like it should be a main cross instead of exotic
Also there is question how JPY as safe-heaven is gonna react if the risk for Japan sisse expectes materializes. EUR may also act as a carry-trade but that should dissipate with monetary tightening on the way. So I guess the main argument is that eur is gonna be much better safe heaven than yet if I get it well. But not sure on this and I guess its important for the MT and LT view.
  • #151,022
  • May 8, 2017 4:06pm May 8, 2017 4:06pm
Quoting Pharm0r
{quote} Nice way to put it! {quote} I agree, thus why I'd like to try and dissect it with you/anyone else- as the pair makes some killer moves Ken A has a good mathematical formula he posts all the time, I'll look for it
EURUSD x USDJPY = EURJPY
Get Rich or Die Tryin
  • #151,023
  • Edited 5:59pm May 8, 2017 4:17pm | Edited 5:59pm
Taking dollar out I think you need to look only at *euro and *yen with a +\- set up. How EU pans out on that type of set up or UJ is putting a factor in that doesn't belong no? (jumping in late on your conversation so sorry if stating the obvious here)
Like is this hypothetical possible?:
UJ in buy
EU in sell
EJ in buy or sell, independent of the above
(for example. No comment on current)
I think that is not impossible.
  • #151,024
  • May 8, 2017 4:31pm May 8, 2017 4:31pm
There are a lot of confluence areas to go through. If we don't go below 1.0920 tonight, then the direction can go either way and it can go both bear and bull equally at the moment, it's anyone's game. I don't have a specific directional bias at this point and am likely to sit some of it out.
  • #151,025
  • May 8, 2017 4:45pm May 8, 2017 4:45pm
Quoting goosebone
Taking dollar out I think you need to look only at *euro and *yen with a +\- set up. How EU pans out on that type of set up or UJ is putting a factor in that doesn't belong no? (jumping in late on your conversation so sorry if stating the obvious here) Like is this hypothetical possible?: UJ in buy EU in sell EJ in buy (for example. No comment on current) might be wrong but I think that is not impossible.
You maybe right, I think intuition only is what makes me want to add USD in there
  • #151,026
  • May 8, 2017 5:28pm May 8, 2017 5:28pm
My first post here, so thought this would be the proper thread.

I've been trying to trade the EURUSD for a couple of weeks now. I've always been self-employed, but recently decided to stop taking on projects and just figure this shit out. I know that's ambitious, but that's just who I am.

Now I'm down to being broke in about 2 months unless I try and restart the old grind, but I'm just so sick of it. I've taken some large losses and also taken some acceptable profits as well as acceptable losses. It's like when the word is right on the tip of your tongue, but you just can't get it out. So on the one hand I feel like I'm right on the edge of bringing in a couple hundred $ per day, but on the other hand, I feel this devastating feeling deep inside.

I'm going against some popular advice and maxing the leverage. So I'm trading with about $2k and 50:1 leverage. I think I've lost about $400 so far, but two huge chunks of that came from two really stupid trades (tried very large stop losses twice).

I've listened to a few self-proclaimed gurus and thought "aha", but then after a while all of what I thought they were right about just crumbles. I don't know if it's because they don't know wtf they're talking about or if it's because I'm skeptical of anyone who claims to want to share a working system.

So I guess I'm just looking for someone who has it in their heart to help me pick myself up and aim towards that positive side I mentioned rather than the poopy one. I'm okay with spending lots of time and effort, but I'd prefer to find a way to start with SOMETHING and invest in growing that something into something bigger. I would like to find a way to support my current lifestyle (7k monthly would be superb) and then eventually improve it.

Is this a dream that I should give up on? Is there ANYONE out there who knows what they're talking about?

And I know you've probably seen many similar posts before, but hopefully, someone will hear the sincerity in my voice. Either way, thanks to anyone reading. Just writing out my frustrations and venting really feels good.
  • #151,027
  • May 8, 2017 6:14pm May 8, 2017 6:14pm
Quoting traderguy7
There are a lot of confluence areas to go through. If we don't go below 1.0920 tonight, then the direction can go either way and it can go both bear and bull equally at the moment, it's anyone's game. I don't have a specific directional bias at this point and am likely to sit some of it out.
Scratch that last post. If we close above 1.0920 by 8pm US Eastern Time, I say we have a very good chance of getting back up to 1.0950 again overnight and into tomorrow morning.
  • #151,028
  • May 8, 2017 6:24pm May 8, 2017 6:24pm
Quoting ohyayfun
My first post here, so thought this would be the proper thread. I've been trying to trade the EURUSD for a couple of weeks now. I've always been self-employed, but recently decided to stop taking on projects and just figure this shit out. I know that's ambitious, but that's just who I am. Now I'm down to being broke in about 2 months unless I try and restart the old grind, but I'm just so sick of it. I've taken some large losses and also taken some acceptable profits as wellacceptable losses. It's like when the word is right on the tip of your tongue,...
As someone who's traded currencies for almost 10 years, I give you no guarantees, except for one piece of wisdom: be prepared for trading to be harder than you expected.
  • #151,029
  • Edited 7:25pm May 8, 2017 6:53pm | Edited 7:25pm
Quoting ohyayfun
(7k monthly would be superb) and then eventually improve it. Is this a dream that I should give up on? .
Yes.
Call your clients back and take those projects. You got $2k. Learn to trade with it. After work. Be cheap. Dont try to make money, or support your lifestyle (thats funny), try to learn as much as you can about how to trade before the 2k is gone. It will be so get ready for that.

Quote
So on the one hand I feel like I'm right on the edge of bringing in a couple hundred $ per day,
You're not.
If you figure out a way to make a 10% return daily consistently you will beat both Bezos and Gates and be the world's first Trillonaire in year or two.

Quote
Just writing out my frustrations and venting really feels good.
Thats probably because you are a person intelligent enough to know that your expectations aren't just unreasonable, they are more like hallucinations from the third day of an opium binge.

Quote
Is there ANYONE out there who knows what they're talking about?
Yes.
But I dont. And ive been obsessively living and breathing this shit for a few years now. Seriously I'm pretty sure my wife thinks I've moved out. She just steps around me like furniture.
Anyway, wish you luck.
  • #151,030
  • May 8, 2017 7:24pm May 8, 2017 7:24pm
Anybody have Sisse's oil ST, MT and LT outlook? Anybody long oil after today's OPEC production cut extension news and bullish close today??
  • #151,031
  • May 8, 2017 7:33pm May 8, 2017 7:33pm
Quoting goosebone
... Seriously I'm pretty sure my wife thinks I've moved out. She just steps around me like furniture. Anyway, wish you luck.
man , didn't know invisibility works both ways online and offline .
Sorry I couldn't resist
Get Rich or Die Tryin
  • #151,032
  • Edited 8:28pm May 8, 2017 7:39pm | Edited 8:28pm
Quoting hoom
{quote} man , didn't know invisibility works both ways online and offline . Sorry I couldn't resist
Yeah but it's more satisfying here because I always get a warm feeling inside knowing you are scrolling down to look for me.
  • #151,033
  • May 8, 2017 7:40pm May 8, 2017 7:40pm
Quoting goosebone
{quote} Yeah but it's more satisfying here because I always get a warm feeling inside knowing you are scrolling down to look for me.
nice comeback lol
Get Rich or Die Tryin
  • #151,034
  • May 8, 2017 9:27pm May 8, 2017 9:27pm
Quoting ohyayfun
My first post here, ..... And I know you've probably seen many similar posts before, but
Working for a living is much easier and more rewarding than trading. In almost all cases, it will pay better, also. You should go back to the grindstone. If what you've been doing doesn't pay well or is killing your Soul, learn to do something else. When you can work and make money and support yourself, learn to save money. When you are able to save money, I'd suggest you might put about 10% max of your monthly savings in some kind of risky trading account. The rest of it should be in safe(r) assets.
Inserted Video
"If The Fool persists in his Folly he will become wise." - William Blake
  • #151,035
  • May 8, 2017 10:06pm May 8, 2017 10:06pm
Quoting traderguy7
{quote} Scratch that last post. If we close above 1.0920 by 8pm US Eastern Time, I say we have a very good chance of getting back up to 1.0950 again overnight and into tomorrow morning.
The longer support at 1.0920 holds, the more confidence I am gaining that we are no longer moving downwards for now but are instead setting up to reach 1.0950 and maybe past it again. Watch for a very good chance for this to happen tomorrow. Good night.
  • #151,036
  • May 8, 2017 11:52pm May 8, 2017 11:52pm
Quoting Pharm0r
{quote} Interesting, my close shows that the range was extended but not closed..... If dollar is a buy vs YEN (no risk, dollar buy, yen in trouble long term), and neutral VS EURO (both currencies a buy)- wouldn't EJ go down or be neutral ranging? I'd like to move your chart to long term instead of mid, when dollar is expected to turn bearish and euro continue bullish
Same. I have a high of 124.480.
  • #151,037
  • May 9, 2017 12:24am May 9, 2017 12:24am
Quoting Pharm0r
{quote} Nice way to put it! {quote} I agree, thus why I'd like to try and dissect it with you/anyone else- as the pair makes some killer moves Ken A has a good mathematical formula he posts all the time, I'll look for it
there is no formula.

eur/usd * usd/jpy = = eur/jpy
  • #151,038
  • May 9, 2017 12:25am May 9, 2017 12:25am
Quoting traderguy7
{quote} The longer support at 1.0920 holds, the more confidence I am gaining that we are no longer moving downwards for now but are instead setting up to reach 1.0950 and maybe past it again. Watch for a very good chance for this to happen tomorrow. Good night.
why do you think we are not going down. if we break 1.0914 followed by 1.0903 we are going down to 1.0847 and sub 1.08 later
  • #151,039
  • May 9, 2017 12:28am May 9, 2017 12:28am
Quoting traderguy7
{quote} As someone who's traded currencies for almost 10 years, I give you no guarantees, except for one piece of wisdom: be prepared for trading to be harder than you expected.
I agree. market has been difficult since the past 2 years or so. forex was never guaranteed income but it was 60% predictable. I think that % has come down to 30% now
  • #151,040
  • May 9, 2017 1:25am May 9, 2017 1:25am
113.70 next level for usd/jpy. euro sub 1.0903 1.0847
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