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The Really Useless Thread

  • #151,921
  • May 25, 2017 8:56pm May 25, 2017 8:56pm
Quoting PayTheLimit
Trading, well trading is just a fucking job in the end really, despite all the alternate theories, and on balance it blows.
yo garbage men do not come home from work and get on the internet and chat for hours with other garbage men about what their day was like. I think a trader will evolve to not need to talk about trading over time. And if you're zoomed out and trading in/out of trades that last weeks or months instead of hours or minutes, there's not so much to talk about anyway. The latter case opens up a lot of time to do other things. You only get so many heartbeats - puzzling over what stupid fukin level the e/u will turn on in the next hour, day in/day out, man that's a waste. Even more tragic if you're going broke doing it. Good luck PTL and have a nice break.
"If The Fool persists in his Folly he will become wise." - William Blake
  • #151,922
  • May 25, 2017 9:52pm May 25, 2017 9:52pm
Quoting The Fool
{quote}yo
Do you think it takes a fair amount of this:

Quote
puzzling over what stupid fukin level the e/u (or whatever) will turn on in the next hour, day in/day out

to get to this?:

Quote
I think a trader will evolve to not need to talk about trading over time

Just curious.
  • #151,923
  • May 25, 2017 10:23pm May 25, 2017 10:23pm
everyone is different and comes to trading along different paths. I certainly spent my share of long hours and years puzzling over price action even down to the sub-1m tf. No more. I have things I'm looking for and that may or may not have anything to do with anything on any chart. Typically not. Typically some future event scheduled or not. I don't mind waiting for what I want to trade. And I really think talking about your trading can get in the way of it. It's like a lot of things - golf, fishing, whatever, the list is endless - bait a hook and cast it out there, tee up a ball and hit it - just do it. It should be a simple, boring thing that will suffer from too much dissection or discussion.

A lot of my current attitude has been forced on me by decision to just trade equity options, since the equity markets have been epically boring going on years. But also trading options has forced me to see lots of possible scenarios of any trade, so by the time I take the trade, it's like I already saw the movie. Just another boring thriller, move on to the next one....
"If The Fool persists in his Folly he will become wise." - William Blake
  • #151,924
  • May 26, 2017 1:49am May 26, 2017 1:49am
Quoting sisse
For all those that sent PM, I will reply them personally and directly to each in the upcoming hours/days. sisse
my first post here on FF
been following FF on and off, read lots of threads and posts almost all of them TA this line crossed that line or some other kind as all know
so sisse posts are whole another world for me and learnt a lot i mean a lot not enough to comment or post my ideas though anyway thanks for your time and effort sisse
seems like i cant send DMs as this is my first post but i really would like to keep reading your posts
  • #151,925
  • May 26, 2017 2:48am May 26, 2017 2:48am
That was it for Europe, final updates coming today with GDP and W combo before closing the chapter in the thread.

All markets on track, Euro looks set for a wide zigzag move for the M flows and rebalancing for the summer. A quick sweep of soft hands to 1.134x for a wide zig leg wouldn't make me unhappy with today GDP but all maps crystal clear in there now ...

GL all today...

sisse
Pending conversations? PM for a chat...I am mainly in OTM now
  • #151,926
  • May 26, 2017 3:58am May 26, 2017 3:58am
DXY count

daily TF


well, right now we have only around 5-7% DXY bulls left. That alone may call for a rally sooner than later. The only time out of my experience, when the masses are right for a long time, is in the center of a wave 3 on multiple degree.

But here we are only a relatively tiny movement away from the highs, and the structure does not look like a 3 of a 3.

Regarding the blue impulse up: wave 1 (blue) is nearly equal wave 5 blue. Although the wave 5 blue has no clear impulsive pattern, I decided to label it as wave 5, because of wave 1 blue = wave 5 blue.

Time wise, 80% of all wave 4 are within the 0-175% of wave 2. We have around 100% in this case.

If we imply that since the wave 3 blue top all following action is a broad wave 4, then we are running quickly out of probability, because only very few times
wave 4 are bigger than 200% of wave 2 time-wise.

In this case, the count from the blue 3 top would be kind of an ABC-flat, where we are now in wave C down.

The wave C of a flat is ideally between 100-200% of wave A. We are a bit short here of the 100%
Also the wave C of a flat should be ideally between around 80-170% of wave B. Right now we are somewhat around 60% roughly.

The structure down from the blue 5 looks at the moment like a double 3.

For me, above all counts, structure and time considerations, is the fact, that the bears right now are so many (95%).

Looks set to go higher soon out of my view.

keep also an eye on the red 1,2 respective the red AB:

now the top is around 161,8 of red 1 (or A)
Attached Image (click to enlarge)
Click to Enlarge Name: 2017-05-26 10_10_34-DXY_ 97.09 ▼−0.11% - Unnamed - TradingView.jpg Size: 520 KB
  • #151,927
  • May 26, 2017 5:00am May 26, 2017 5:00am
When DT tour was going to pass without major 'faux pas' ... he couldn't keep his tongue quiet. Inexplicably on the border line moronic DT in his usual verbal slurps triggering protectionism fears and conflict against the Germans this time. He wont keep it civilise until it really blows in his face one way or the other ...

Whatever the case, watch-out Gold and Dollar with the open and news. We have all ducks aligned for a risk off summer ...but thats for a conversation later ....

sisse
Pending conversations? PM for a chat...I am mainly in OTM now
  • #151,928
  • May 26, 2017 5:38am May 26, 2017 5:38am
Quoting sisse
When DT tour was going to pass without major 'faux pas' ... he couldn't keep his tongue quiet. Inexplicably on the border line moronic DT in his usual verbal slurps triggering protectionism fears and conflict against the Germans this time. He wont keep it civilise until it really blows in his face one way or the other ... sisse
Uncivilised and uninformed. The same German carmakers provide lots of jobs in the USA:

Quote
While investing in Mexico, German carmakers have quadrupled light vehicle production in the United States over the past seven years to 850,000 units, more than half of which are exported from there, Germany's VDA automotive industry association said.

"In the long term, the United States would be shooting itself in the foot by imposing tariffs or other trade barriers," VDA President Matthias Wissmann said in a statement.

German carmakers employ about 33,000 workers in the United States and German automotive suppliers about 77,000 more, the VDA...

http://www.reuters.com/article/us-us...-idUSKBN1500VJ
  • #151,929
  • May 26, 2017 5:38am May 26, 2017 5:38am
Quoting sisse
When DT tour was going to pass without major 'faux pas' ... he couldn't keep his tongue quiet. Inexplicably on the border line moronic DT in his usual verbal slurps triggering protectionism fears and conflict against the Germans this time. He wont keep it civilise until it really blows in his face one way or the other ... Whatever the case, watch-out Gold and Dollar with the open and news. We have all ducks aligned for a risk off summer ...but thats for a conversation later .... sisse
Stupid is that stupid does. . So I am qte sure that Forest Gump's mother would name DT stupid. And when I am in to movie cliches I heard "run forrest run forrest to JPY away from Sterling". Been a nice run so far .
Trading in the shadow of SM
  • #151,930
  • Edited 5:54am May 26, 2017 5:39am | Edited 5:54am
Closed eu short at b/e and flat before news. Never got the D close I wanted sub 1202. Don't make sense to sit at my 1214 entry headed into whats become a more than usually important GDP report. Seems like for EU an inline result or a flop pushes higher whereas only a decent overshoot would push lower. Dissapointing 1Q data in the US makes the overshoot less likely.
Might take another shot from higher with better rr before or after news.
  • #151,931
  • May 26, 2017 6:29am May 26, 2017 6:29am
Quoting goosebone
Closed eu short at b/e and flat before news. Never got the D close I wanted sub 1202. Don't make sense to sit at my 1214 entry headed into whats become a more than usually important GDP report. Seems like for EU an inline result or a flop pushes higher whereas only a decent overshoot would push lower. Dissapointing 1Q data in the US makes the overshoot less likely. Might take another shot from higher with better rr before or after news.
Hmm, I just took away my SL now before the news to not get taken out on any spike. Will be time to get an graceful exit around my SL level that was 1.126x area if it continues north. It is carry so that it takes time before down movement comes doesnt hurt so much .
Trading in the shadow of SM
  • #151,932
  • May 26, 2017 6:42am May 26, 2017 6:42am
Quoting Earleone
{quote} Hmm, I just took away my SL now before the news to not get taken out on any spike. Will be time to get an graceful exit around my SL level that was 1.126x area if it continues north. It is carry so that it takes time before down movement comes doesnt hurt so much .
Watching it. Might jump in. But I wanted to have at least a little distance for GDP.
  • #151,933
  • May 26, 2017 6:45am May 26, 2017 6:45am
Simple ride in Sterling, it's clearing time for ST partials before reports and will prolly be the last update on Sterling* in the thread.... Well done all riding it from 1.30xx. I know a few, for now only 'soft targets' the real money comes only with Dollar...


Quoting sisse
...Sterling completing that pending final major target on the test of the 1.30xx hand...
For actual trading London close will trigger the traditional 'Choose you Poison time' in Sterling* for a major MT leg that will extend till the end of the summer...
Quoting sisse
....Sterling* is set to weaken until election while Euro* is flirting really seriously to kill the downtrend once and for all...
For those tracking Euro, for the second time this month is the infamous 'choose your poison time' for the ST (@Pharm0r choose wisely this time ...) but even more important we have potential Weekly/Monthly explosive roll play combo from the close today for the MT ....

Eyes on reports and NY ...

sisse
Pending conversations? PM for a chat...I am mainly in OTM now
  • #151,934
  • May 26, 2017 6:54am May 26, 2017 6:54am
Quoting gatorinla;9908708[U
]ej may try for 150 from high.[/u]. 124.17 may give a pass or buy (or less) opportunity. if this high area held around 125.80 {image}
its got the 150 now. i will tp shortly
Attached Image
those who can, do. those who cant, talk about those who can
  • #151,935
  • May 26, 2017 7:01am May 26, 2017 7:01am
Quoting gatorinla
{quote} its got the 150 now. i will tp shortly {image}
considering a ej Long scalp 124.17/122.55... its Friday, maybe i should wait for Monday.. i do have a setup probably at a bear weakness sign. possibly soon at 124.17 r less area. it if worked.. 80 or more target.
those who can, do. those who cant, talk about those who can
  • #151,936
  • May 26, 2017 7:08am May 26, 2017 7:08am
@goose, before the facts post-

you had a plan and a stop loss in place, why close right before you're a hero or a zero? Same plan here, already chose my poison a few days ago

Quote
short @ 1.1240 - same stop. Would like to add for a momentum trade below 1.1160
stop referenced is @ 1.1270, pending for a momentum play is @ 1.1158 for today only, otherwise to add I need to see 1.1158 closed

1.1317 is of high interest too for me @ gatorinla, have a UJ short I'll need to sort out soon....either EU or UJ survive
  • #151,937
  • May 26, 2017 7:12am May 26, 2017 7:12am
London is open atm.. eu at 1193 ish.. its a big tease here.. still a place that may determine future. it will be a less bullish sign to roll London below.. its would be in the face of months bullish moves.. with the month ending next week.. it can go up, that's the recent months trend. a close below decreases that chance and in a few days it could wipe out this months gains. the trend up yada yada.. at least until you go out since 2009.. at 1200 from 057x.. going up w/o a retrace may be a harder path
those who can, do. those who cant, talk about those who can
  • #151,938
  • May 26, 2017 7:14am May 26, 2017 7:14am
Quoting Pharm0r
@goose, before the facts post- you had a plan and a stop loss in place, why close right before you're a hero or a zero? Same plan here, already chose my poison a few days ago {quote} stop referenced is @ 1.1270, pending for a momentum play is @ 1.1158
You maybe very right. My entry didn't look good 30 min before news. That plan i had wanted lower by now. Will see in a few.
  • #151,939
  • May 26, 2017 7:18am May 26, 2017 7:18am
Quoting goosebone
{quote} You maybe very right. My entry didn't look good 30 min before news. Will see in a few.
I understand, and of course sideline is never a bad idea if you're unsure.....but maybe the difference is you had a plan. All love, wanted to make sure I got it in before the facts as to show that I'm not trying to sway you either way. Always more opportunities though when going with the flow, so whatever
  • #151,940
  • May 26, 2017 7:19am May 26, 2017 7:19am
Eyes on reports. Expecting a confirmation of the slow down of US Economy in Q2. Only a major revision up (these numbers don't really diverge much) from the early number will short circuit the flows, everything else around the mean distribution is inline ...

sisse
Pending conversations? PM for a chat...I am mainly in OTM now
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