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Flying Dutchman

  • #901
  • Feb 23, 2022 8:13pm Feb 23, 2022 8:13pm
Quoting moodybot
{quote} Its a discussion so I’m pretty sure people are interested in cumulative delta. It’s beyond me of course but that’s to be expected!
What it empathises is buyers don’t create bullish trends without urgency or sellers don’t create bearish trends without urgency.

Why the herd suddenly panics and pushes the trade button in unison bewilders me as well.
Trading thin liquidity at the boundary of the charts
  • #902
  • Feb 23, 2022 9:57pm Feb 23, 2022 9:57pm
Quoting RickM
{quote} What it empathises is buyers don’t create bullish trends without urgency or sellers don’t create bearish trends without urgency. Why the herd suddenly panics and pushes the trade button in unison bewilders me as well.
My herd is now showing a healthy return, even if AUDCHF became separated. With 28 herd members, when a good proportion of them start to stampede, best join in.
  • #903
  • Edited Feb 25, 2022 12:44am Feb 24, 2022 11:11pm | Edited Feb 25, 2022 12:44am
Meal for today
Sorry, not rainbow lines
What do they call it? Institutional candle?
Attached Image (click to enlarge)
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  • #904
  • Feb 27, 2022 9:05am Feb 27, 2022 9:05am
Quoting TimeTells
But try and express it, let alone explain it, to many fellow traders and I/you/we will get hammered
Hi Pete, you're right on this one. If I try explain I trade with no special indicators which I wrote previously, I sure get hammered. That's why I don't talk trading method, just general discussion. And just for fun, weekend trading bitcoin which is popular among scalpers. Testing the spread, lotsize, stoploss and tp. Move lots of pips, you might want to check this pair out. Cheers.
Attached Image (click to enlarge)
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Know what you trade
  • #905
  • Feb 27, 2022 11:20pm Feb 27, 2022 11:20pm
This looks interesting hah
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Click to Enlarge Name: GBPUSDM30.png Size: 38 KB
  • #906
  • Feb 28, 2022 12:15am Feb 28, 2022 12:15am
Quoting Ihlas
This looks interesting hah {image}

Definately interesting Ih,

100 pip opening gaps are sometimes "not" gaps. But structure changes. We do not know.


It's a pair I have interest in, yes, but I'll be very patient on a Monday, and see what "they intend" to do lol.

If it's to be filled, probably NY, if not plenty might be buying into a real nightmare now, WHO KNOWS lol

The all-telling 50% move back from the open, to halfway from the Friday close, NOW, has both buyers & sellers caught in 'limbo'.

Who cracks first, whose patience runs out & closes out first, and more importantly who will right now offer "themselves up" as the new liquidity.

As you said. Looks interesting
  • #907
  • Feb 28, 2022 1:26am Feb 28, 2022 1:26am
Quoting TimeTells
{quote} Definately interesting Ih, 100 pip opening gaps are sometimes "not" gaps. But structure changes. We do not know. It's a pair I have interest in, yes, but I'll be very patient on a Monday, and see what "they intend" to do lol. If it's to be filled, probably NY, if not plenty might be buying into a real nightmare now, WHO KNOWS lol The all-telling 50% move back from the open, to halfway from the Friday close, NOW, has both buyers & sellers caught in 'limbo'. Who cracks first, whose patience runs out & closes out first, and more importantly...
Hi TT,
Oh my, oh my ... what the hell is happening ??? Today the price drops about 100 pips ... ... i am not so sure about all of this sh*t now ... do you mean that the direction /structure of today will be the same as Friday ??? do i understand /got it clearly ?????
  • #908
  • Feb 28, 2022 2:10am Feb 28, 2022 2:10am
Quoting lasttry
{quote}
Hi TT, Oh my, oh my ... what the hell is happening ???
Today the price drops about 100 pips ... ... i am not so sure about all of this sh*t now ...
do you mean that the direction /structure of today will be the same as Friday ???
do i understand /got it clearly ?????

Hi LT,
Yes, my thoughts, exactly ... who knows - at this point - NOW.

Some gamblers will trade, I have no doubt.

While some experienced scalpers may have already pocketed profits (in both directions)

I am a discretionary guesser myself.
My discretion & instinct tells me just to watch & see.

The Maths folk will have direction bias, maybe. We could ask them.
My own probability meter says its all around 50/50. So I wait.
Be patient is my best suggestion, when one is not sure.
  • #909
  • Feb 28, 2022 3:02am Feb 28, 2022 3:02am
Quoting Ihlas
This looks interesting hah {image}
on certain platforms it seems like that level was traded...just FYI
Look Sharp/Trade Tight
  • #910
  • Feb 28, 2022 3:23am Feb 28, 2022 3:23am
Thanks @TimeTells and @PayTheLimit
  • #911
  • Edited 10:18pm Feb 28, 2022 9:37pm | Edited 10:18pm
To give an idea how far this guessing go.

First we have to guess where price go to from NOW.

Second we have to guess when this NOW is when price starts to go somewhere.

This 2nd deeper level guessing force traders to screen stare making discretionary guessing when this NOW is.
This is the main reason a very high percentage of traders are scalpers - the dopamine addiction need the NOW to be now.
This same reason is why traders continue to be looking at their charts the entire day, except weekends if they don't trade bitcoin.
This is the reason traders develop chart staring addiction, the need to guess if this now is the NOW.
This addiction affects all traders.

Sleep is the time that stop this addiction temporarily.
Financial losses stop this addiction longer.
Profits solidify this addiction. It becomes permanently embedded into the profitable trader.
In a strange way there's good for the losers. You stop paying time.

Forex screen staring addiction is far worse than online casino gambling.
Hard truth. Cheers
Know what you trade
  • #912
  • Feb 28, 2022 10:25pm Feb 28, 2022 10:25pm
Quoting BWilliam
Forex screen staring addiction is far worse than online casino gambling.
Hard truth.
Cheers

HI BW,

Yes, I certainly agree.

This ongoing screen staring, is little more than

hoping for some great revelation, to jump off the screen, I imagine

which can then lead to, the “curse of impatience”.


ie
“I am staring at the screen,
The last candle on the screen has done this,
So I might as well trade something, now. After all it's a 50/50 chance.”

boredom => need for excitement (trade/gamble), to justify all the screen staring time => impatience => (maybe) an ill considered trade executed
  • #913
  • Feb 28, 2022 10:46pm Feb 28, 2022 10:46pm
At some point of course a Trader will need to look at “something tangible”,

to initiate a trade,

whether that might be watching the chart on their screen, or a price on their mobile phone, for example


Maybe, then ?

Having a Target Hi and a Target Lo in mind (or on their screen) & regardless of the timeframe
(I mean it can be right down to the 1min if you wish),

Would give a trader boundaries, to the chart/prices being stared at.

(Personally, I like to glance sideways at my chart , while then doing something else )


Now, we could then include, these assessed upper & lower boundaries and have them in place

(To suit allcomers, these could be straight horizontal lines or even curvy lines for example )

And we might also have many (or just some) targets sitting in between our broader boundaries.


But is this, then, the end point of only what a (discretionary, or mathematical) trader might do, when,
a trade setup is seeming to come into trade play ?
Perhaps there is also more.
  • #914
  • Mar 1, 2022 3:59pm Mar 1, 2022 3:59pm
Quoting BWilliam
Sleep is the time that stop this addiction temporarily.

I assume (maybe), BW, but certainly myself,
are expounding a bit here on Andy’s open-topic’d Flying Dutchman thread
for those traders who don’t quite have it all under control at present.

Most recently for V & LT, if they look in.

There seemed a wish there, to think-out something more in forex, than just the status quo.


So, IF both discretionary and mathematical traders might have in place, each trading day,
upper & lower boundaries on their charts (and maybe targets in-between those boundaries),
then what else might prepare a chart-day, for potential trades.


I think of it as Forex “trading opportunity times” ---- and do it in terms of ocean TIDAL behaviour.

ie how do oceans work, and relate that back to WHEN our forex charts might also be influenced
by their own Tidal Action,

An inflow & outflow (flood) of ‘extra’ orders over and above the norm,
which are happening on a reasonably regular & reliable time basis,
no data required.

These tidal times of course are around (incl just before & just after)
our major Sessions.

Living in Australia I only participate, as always a hands-on trader, in two major sessions realistically.
Asia & Franky/London (incl their fore-runups & post-rundowns). That’s all.

So it’s bye-bye NY for me sadly (night-night actually), just because of my timezones.

I choose these sessions, to keep my own circadian rhythm in harmony & balance.


Boundaries, Targets & Times Of the Day (sessions / tides, whatever narrative you wish).
That's a daily cycle I throw over forex.

And has nothing at all to do with HOW I will, or might, trade it all lol, in my moments of clarity.

All the best V & LT (and BW for getting me thinking again, with his post above).
Pete
  • #915
  • Mar 1, 2022 8:07pm Mar 1, 2022 8:07pm
I see that elsewhere, on a thread that I was banned from

https://www.forexfactory.com/thread/...8#post13856438

That a link on Post one now leads to nowhere!..

Can I assume that all those operating on that thread followed the trail through to Facebook to a dude from South Africa with various
Facebook links for Forex Trading.

Tried through various means, thanks Kev and Pete, to get a price for EA, training etc however he disappeared like a fart in the wind.

I wonder why!

Andy.
  • #916
  • Mar 2, 2022 4:04am Mar 2, 2022 4:04am
I don't scalp because it cost time to screen stare but when market present good pips I do take those rare quick scalps.
Attached Image (click to enlarge)
Click to Enlarge Name: gu1.PNG Size: 26 KB
Know what you trade
  • #917
  • Mar 3, 2022 12:14pm Mar 3, 2022 12:14pm
Quoting BWilliam
I don't scalp because it cost time to screen stare but when market present good pips I do take those rare quick scalps. {image}
In Rich Dad's Cashflow Quadrants (by Robert T. Kiyosaki) scalping falls under the Self-Employed quadrant (you own a job - you are still an employee more like a GP doctor who works at his own medical practice).
  • #918
  • Mar 7, 2022 3:55pm Mar 7, 2022 3:55pm
Indicators are useless....

That's all....
Master your Mind,,,Master the Market
  • #919
  • Mar 7, 2022 6:05pm Mar 7, 2022 6:05pm
Quoting bluesteele
Indicators are useless.... That's all....


To Trade

Understand the movement of a repeating market structure that has to follow a given format to trap traders in both directions, at the same time!

The End.
  • #920
  • Mar 7, 2022 7:36pm Mar 7, 2022 7:36pm
Quoting bluesteele
Indicators are useless.... That's all....
Here we have a problem.

If we want to trade Futures or trade a large account, we will have to accept uncomfortable draw downs which many traders can’t cope with. When I am trading the DOW YMH22, it’s $5 a point as soon as it’s in draw down. So a standard big one minute bar will have you $120 in the red within 30 seconds.
Move forward 10 minutes and if price is heading away from your entry- you are in a $2,000 paper loss faster than you can drink a cup of coffee.

Market structure my arse, your’e stressing out out now how you are going to get out of this position after the eleventh minute.

This is where indicators can save your arse.

A indicator that shows you when the herd are urgently buying or selling proves to be suddenly valuable. We get to know what ratio of the traders are hitting the buy or sell market orders seconds after it occurs and the exact quantity as well.

Useful?

You bet.

I just don’t think we should make blanket statements about indicators that are just maths at the end of the day.
Trading thin liquidity at the boundary of the charts
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