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  • #601
  • Feb 27, 2018 2:37am Feb 27, 2018 2:37am
Quoting newbegger
{quote} Thanks for the complement. And the tip. Got shorty on your long call at 11;44 am and s/l now sitting a BE +10. {image} Fellow traders - I already tried to clock this trader, does not post too many trading calls but this is great example of why I don't ban people from threads. Every now and then, they will tip their hand.

you see, you keep digging your hole deeper and deeper with your nonsense, EURUSD was a clear BUY, but instead of even discussing with me about direction you will go with all guns blazing shorting and bragging after the fact, only to make a fool out of yourself, your ego really is a problem here. Like I said, you have a lot of learning to do mate

...
  • #602
  • Feb 27, 2018 2:40am Feb 27, 2018 2:40am
Quoting Spreadbetter
“Those who fail to learn from history are doomed to repeat it.” Sir Winston Churchill. “Whatever gets you in gets you out!”is of the most ridiculous trading comments I read in relation to FX trading using T.A., many years back. Back test, forward test, whatever, try just about any combination of technical indicators you want and none will work over a consistent basis ever. Sure they’ll get you in, sure they’ll get you out, but there’s no plan, for when you get to a daily, weekly, or monthly trend ending and you’re getting mixed signals as price...
hay mate, I really enjoy reading your posts

...
  • #603
  • Feb 27, 2018 2:41am Feb 27, 2018 2:41am
Quoting Spreadbetter
“Those who fail to learn from history are doomed to repeat it.” Sir Winston Churchill. “Whatever gets you in gets you out!”is of the most ridiculous trading comments I read in relation to FX trading using T.A., many years back. Back test, forward test, whatever, try just about any combination of technical indicators you want and none will work over a consistent basis ever. Sure they’ll get you in, sure they’ll get you out, but there’s no plan, for when you get to a daily, weekly, or monthly trend ending and you’re getting mixed signals as price...
Sir Winston Churchill.
This knew human psychology better than any other person in the world . It is truth it is fact , just like day and lights happens same way history repeat itself,
Neither a Bro Nor a Pro I am I
  • #604
  • Feb 27, 2018 3:07am Feb 27, 2018 3:07am
Quoting goose4
{quote} Totally agree. Actually technical analysis does not work. This is a great video explaining. https://www.youtube.com/watch?v=jBpPGAJD7gw

its works when u see someone react on that technical..u need to watch the orderflow

u are doomed and suck if u use technical without orderflow and knowing why someone looking at it..
  • #605
  • Feb 27, 2018 4:02am Feb 27, 2018 4:02am
Quoting Spreadbetter
All indicators are useless, moving averages and fib can work, but only on the basis of a self fulfilling prophecy, areas where institutional level traders may make decisions, or have orders in the market, at these levels. I don’t class price action as T.A. I don’t class pivot points as T.A. On a daily basis it couldn’t be simpler, as an example; is EUR/USD bullish, is it bearish? Now trade it, then it’s all about your risk per trade. And that risk/money management absolutely underpins all your success. With a 50-50 coin toss strategy you should...
What?

You don't class price action or pivots as TA???

That makes no sense at all.

Quoting M3d
{quote} you see, you keep digging your hole deeper and deeper with your nonsense, EURUSD was a clear BUY, but instead of even discussing with me about direction you will go with all guns blazing shorting and bragging after the fact, only to make a fool out of yourself, your ego really is a problem here. Like I said, you have a lot of learning to do mate ...
I think the E/U is neutral on D1 until it closes below the S1 weekly pivot or above the half number.
If you are good at something, never do it for free--Joker
  • #606
  • Feb 27, 2018 4:28am Feb 27, 2018 4:28am
It makes perfect sense, the skills required for price action analysis are completely different from the voodoo and hocus pocus simpletons scrawl on their charts, terming it “technical analysis”, believing that a combination of failed indicators will eventually unlock a hidden door to Shangri La. Similarly, having a platform automatically redraw daily pivot points, whether Camarilla, woodie, fib or standard, is not tech analysis, in the form most amateurs on here would understand. Moreover, I deliberately quoted both skills as separate, to avoid confusion with the user of the MACD/DMI/BB/whatever else nonsense placed on his chart.



Quoting jmn5611
{quote} What? You don't class price action or pivots as TA??? That makes no sense at all. {quote} I think the E/U is neutral on D1 until it closes below the S1 weekly pivot or above the half number.
"The meek shall inherit the earth.." Yeah right, good luck with that shit..
  • #607
  • Feb 27, 2018 5:23am Feb 27, 2018 5:23am
Quoting jmn5611
{quote} What? You don't class price action or pivots as TA??? That makes no sense at all. {quote} I think the E/U is neutral on D1 until it closes below the S1 weekly pivot or above the half number.
EU is bouncing off strong support, until that breaks we are in daily demand area, so basically what you are saying I should short lows? not my style, will change my view when my levels get broken

and 2nd, I ALSO don't class price action or pivots as TA. Period. That only means you have no idea what price action really means.

...
  • #608
  • Edited 7:41am Feb 27, 2018 7:29am | Edited 7:41am
Quoting Spreadbetter
It makes perfect sense, the skills required for price action analysis are completely different from the voodoo and hocus pocus simpletons scrawl on their charts, terming it “technical analysis”, believing that a combination of failed indicators will eventually unlock a hidden door to Shangri La. Similarly, having a platform automatically redraw daily pivot points, whether Camarilla, woodie, fib or standard, is not tech analysis, in the form most amateurs on here would understand. Moreover, I deliberately quoted both skills as separate, to avoid...
When people have the debate about TA, I always think about the Stoch Oscillator. On the forums it is sell when it comes out of the 80 and buy when above the 20. But the George Lane himself does not use the indicator that way, the only signal for the Stoch is divergence. Of course that is just a fancy way of identifying lower high or a higher low over X number of bars. The point is that a lot of indicators are not used, or tested, as designed.

Traders do evolve past if it is green then buy or red then sell. They do go through a progression of learning. Some of your posts are like scolding a second grader for not knowing the laws of Thermodynamics. Maybe you could state where the obvious flaws are in indicators, other than their lagging nature, because everyone knows that one. I am sure your body of work would be enlightening.

When I look at chart indicators, the biggest problem I see is that I see one chart with 3 momentum indies on it. For example, the Stoch will oscillate in a market that is 2 pips wide. No volatility, no direction. Or 3 volatility indies on it, etc. What happens is that when the trader gets serious and gets behind the formulas of the indicators, they will be lead to price action at some point. Or they will pair their favorite indie with PA without knowing it.

Quoting M3d
{quote} EU is bouncing off strong support, until that breaks we are in daily demand area, so basically what you are saying I should short lows? not my style, will change my view when my levels get broken and 2nd, I ALSO don't class price action or pivots as TA. Period. That only means you have no idea what price action really means. ...
This is true. But if you look at the bull bars against the bear bars, the bulls seem to lack conviction. If S1 fails and becomes resistance after a retest, the bears will rout the bulls and the next point I see at this point is the January low. So there is a case to be made for the bears other than the obvious one for the bulls.
If you are good at something, never do it for free--Joker
  • #609
  • Feb 27, 2018 7:45am Feb 27, 2018 7:45am
Quoting jmn5611
{quote} When people have the debate about TA, I always think about the Stoch Oscillator. On the forums it is sell when it comes out of the 80 and buy when above the 20. But the George Lane himself does not use the indicator that way, the only signal for the Stoch is divergence. Of course that is just a fancy way of identifying lower high or a higher low over X number of bars. The point is that a lot of indicators are not used, or tested, as designed. Traders do evolve past if it is green then buy or red then sell. They do go through a progression...
from intraday point of view doesnt really matter what a trend is, its us session so lets see what ny boys are up to, also given the news section of the week, what london did, what asia markets was like, where price is on higher timeframes, and other things I wont debate here, you see, I dont really care what a trend is cause things can change quickly, I take from 15 to 30 pips somethimes more, so I dont really care about a bigger picture, cause I wont hold trades longer, you can easily see EU is rejecting 1,23449 res level on H4 tf, but its a 50 pips box accumulation area, and clearly H1 support from 1,22881, I dont trade for 100 pips, but thats me, it suits me well also, I dont see market as bear/bulls, I see PA as I see it, I am eventually anticipating a run back to 1,2540 area, but I wont ever be biased one way or the other, I am simply going with the flow of the market

...
  • #610
  • Feb 27, 2018 7:46am Feb 27, 2018 7:46am
Quoting M3d
{quote} EU is bouncing off strong support, until that breaks we are in daily demand area, so basically what you are saying I should short lows? not my style, will change my view when my levels get broken and 2nd, I ALSO don't class price action or pivots as TA. Period. That only means you have no idea what price action really means. ...
I am sorry I missed your edit. I am quite okay with you thinking what you need to think to keep your ego intact. If you think I do not know what PA is, and that it is not a form a TA, I am totally cool with that. There are a lot people on this site with varying degrees of stress, and I do not wish to add any to you. So, yes, I have no idea what I am talking about. Do you feel better now?

Quoting M3d
{quote} from intraday point of view doesnt really matter what a trend is, its us session so lets see what ny boys are up to, also given the news section of the week, what london did, what asia markets was like, where price is on higher timeframes, and other things I wont debate here, you see, I dont really care what a trend is cause things can change quickly, I take from 15 to 30 pips somethimes more, so I dont really care about a bigger picture, cause I wont hold trades longer, you can easily see EU is rejecting 1,23449 res level on H4 tf, but...
Okay, I get it now. You do not see the markets as bears or bulls. Well, how about buyers and sellers? Do you see it that way?
If you are good at something, never do it for free--Joker
  • #611
  • Feb 27, 2018 7:56am Feb 27, 2018 7:56am
Quoting jmn5611
{quote} I am sorry I missed your edit. I am quite okay with you thinking what you need to think to keep your ego intact. If you think I do not know what PA is, and that it is not a form a TA, I am totally cool with that. There are a lot people on this site with varying degrees of stress, and I do not wish to add any to you. So, yes, I have no idea what I am talking about. Do you feel better now? {quote} Okay, I get it now. You do not see the markets as bears or bulls. Well, how about buyers and sellers? Do you see it that way?
"Well, how about buyers and sellers? Do you see it that way?"

No.

It can be profit taking, stoprun/stophunt, or trapped buyers/sellers, or real buyers/sellers...so why would I care who is buying or selling, its better to anticpate where sellers/buyers will be...or what is going on on my levels of interest and what current PA is telling me, so sorry, I dont see markets as buyers/sellers...I have my own unique way of the market, using 14 charts and trading EU only...and using stuff I cant really talk about it, but PA for me is king
  • #612
  • Feb 27, 2018 8:05am Feb 27, 2018 8:05am
Quoting jmn5611
{quote} I am sorry I missed your edit. I am quite okay with you thinking what you need to think to keep your ego intact. If you think I do not know what PA is, and that it is not a form a TA, I am totally cool with that. There are a lot people on this site with varying degrees of stress, and I do not wish to add any to you. So, yes, I have no idea what I am talking about. Do you feel better now? {quote} Okay, I get it now. You do not see the markets as bears or bulls. Well, how about buyers and sellers? Do you see it that way?
my ego is fine, how is yours, and you know how I value traders? by only one thing, if they give me entry stoploss and TP in advance, by that alone I can tell how knowledgable they are...but you will never get that in advance, especailly from ego braggers, I understand pro's trading is more or less discretional, but we can talk all day and all night in this thread, I still wont know how you trade ... so what use is this debate?
  • #613
  • Feb 27, 2018 8:10am Feb 27, 2018 8:10am
Quoting M3d
{quote} my ego is fine, how is yours, and you know how I value traders? by only one thing, if they give me entry stoploss and TP in advance, by that alone I can tell how knowledgable they are...but you will never get that in advance, especailly from ego braggers, I understand pro's trading is more or less discretional, but we can talk all day and all night in this thread, I still wont know how you trade ... so what use is this debate?
I am one who told FF how I trade long ago. It fits on the back of a 3 x 5 index card. You sound like you want a signal service, and because any charts below W1 look different to the trader depending on time zone, this is impossible. But if you do find that buried post, then you too will know all of my entries and stops in advance. For every pair, for the next 100 years. As far as TP, I am a subscriber to infinite yield. I am an open book. How about you?

Quoting M3d
{quote} "Well, how about buyers and sellers? Do you see it that way?" No. It can be profit taking, stoprun/stophunt, or trapped buyers/sellers, or real buyers/sellers...so why would I care who is buying or selling, its better to anticpate where sellers/buyers will be...or what is going on on my levels of interest and what current PA is telling me, so sorry, I dont see markets as buyers/sellers...I have my own unique way of the market, using 14 charts and trading EU only...and using stuff I cant really talk about it,...
I wish you the best, the market will teach you about anticipation, only a matter of time.
If you are good at something, never do it for free--Joker
  • #614
  • Feb 27, 2018 8:18am Feb 27, 2018 8:18am
Quoting jmn5611
{quote} I am one who told FF how I trade long ago. It fits on the back of a 3 x 5 index card. You sound like you want a signal service, and because any charts below W1 look different to the trader depending on time zone, this is impossible. But if you do find that buried post, then you too will know all of my entries and stops in advance. For every pair, for the next 100 years. As far as TP, I am a subscriber to infinite yield. I am an open book. How about you? {quote} I wish you the best, the market will teach you about anticipation, only a matter...
haha one more funny guy, you know shit about how I trade and you act like you know it all, what waste of time discussing ego maniacs here, done with you : )
  • #615
  • Feb 27, 2018 8:20am Feb 27, 2018 8:20am
Quoting jmn5611
{quote} I am one who told FF how I trade long ago. It fits on the back of a 3 x 5 index card. You sound like you want a signal service, and because any charts below W1 look different to the trader depending on time zone, this is impossible. But if you do find that buried post, then you too will know all of my entries and stops in advance. For every pair, for the next 100 years. As far as TP, I am a subscriber to infinite yield. I am an open book. How about you? {quote} I wish you the best, the market will teach you about anticipation, only a matter...
how about that, I am still long EU, and a close at 1,22881 on hourly indicates that, gl to me hehe, next h1 close will reveal next move, so plenty of time to add to longs later or close longs, and open shorts lower, ny boys here we come
  • #616
  • Feb 27, 2018 8:23am Feb 27, 2018 8:23am
Quoting M3d
{quote} haha one more funny guy, you know shit about how I trade and you act like you know it all, what waste of time discussing ego maniacs here, done with you : )
It appears that you are the one has resorted to four letter words, perhaps because you don't know any bigger ones?

I do know how you trade, you open your broker platform, and click on buy or sell with your mouse.

I guess you are not such an open book then?

Quoting M3d
{quote} how about that, I am still long EU, and a close at 1,22881 on hourly indicates that, gl to me hehe
Okay so we have a price point, let's see how it goes the balance of the day! I do hope you win. Every one needs money.
If you are good at something, never do it for free--Joker
  • #617
  • Feb 27, 2018 8:37am Feb 27, 2018 8:37am
While waiting for Powell, on to Psychology of Trading,

The market is predictable
or
The market is random

The market is predictable.

This mindset can get you in a lot of trouble. At first you will probably have success because you have tested your plan but eventually you will begin to "see things", trades you know without a doubt will be successful and you have had a few losers recently so you start to double up your entries, knowing that you can win twice as fast. Before you know it, you've blown a substantial portion and then the revenge trading kicks in. For here you are doomed because the market is not behaving rationally so you double up again, knoning the the market is wrong. An old expression on Wall St is that the market can stay irrational longer than you can stay solvent.

The market is random.

This mindset will keep you out of profiting from trading as you will not be able to anticipate the next probable moves of the market. You will see a head and shoulders but you won't go short. You will hear the NFP report is super strong and you won't sell USD. Why? Because the coin that you flipped was tails. I use that example but you could have a myriad of other methods to use to put on a trade or take o. A win on a game or Solitaire, the sky is cloudy, the dog ran clockwise in the yard today, whatever triggers a buy or sell for you. If you have a belief that the market is random, it's like playing the slot machines. You know you will lose money because the house always wins, how much you lose depends on how long you play.

One more to go
Ecclesiastes 1:9
  • #618
  • Feb 27, 2018 8:39am Feb 27, 2018 8:39am
Quoting jmn5611
{quote} It appears that you are the one has resorted to four letter words, perhaps because you don't know any bigger ones? I do know how you trade, you open your broker platform, and click on buy or sell with your mouse. I guess you are not such an open book then? {quote} Okay so we have a price point, let's see how it goes the balance of the day! I do hope you win. Every one needs money.
yeah that what matter in the end, profit, good luck to you too mate, lets not take it personally, I am always for a bit of fun : )
  • #619
  • Feb 27, 2018 8:58am Feb 27, 2018 8:58am
The market is like a casino and my broker is the house
and
My broker is trying to run my stops

The market is like a casino and my broker is the house.

This mindset is very similar to the market is random mindset. If you always remember that your broker has to take your order, or they will quickly lose customers, you will know YOU have the edge. Yes, they can pull tricks like opening the spread and requotes but you have a choice to take your business elsewhere. You have the edge as long as your trading plan gives you the edge and consistently can make you profits.


My broker is trying to run my stops.

This mindset puts the responsibility of winning or losing in the hands of your broker. Your broker is in business to make money, not to make money for you. Think about it for a minute or a day or 2. Until you take full responsibility for your losses, YOU cannot make money as a trader.

It's been fun. Thank you all for listening to me rant. Now go forth and make me proud, become the money making traders I know you can be!

Happy Trades to you. Until we meet again.
Ecclesiastes 1:9
  • #620
  • Feb 27, 2018 9:04am Feb 27, 2018 9:04am
Quoting M3d
{quote} yeah that what matter in the end, profit, good luck to you too mate, lets not take it personally, I am always for a bit of fun : )
Never personal! I enjoy the banter.
If you are good at something, never do it for free--Joker
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