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Flying Dutchman

  • #1,141
  • Apr 7, 2022 1:05pm Apr 7, 2022 1:05pm
Quoting RickM
{quote} Now I know I'm not supposed to post on your thread but please let me explain more about trading Crypto accounts. Let I will be gone and riding of into the sunset. Your mad if you allow your account to increase far more than $10K in any month, these aren't safe places to leave your hard earn funds sitting there for too long. Also you may have to change your Crypto broker regularly as they offer rebates for periods then remove them. Then you have to find other Crypto company who are offering similar rebates. Why do they offer rebates? Same...

Before you go, why don’t you enlighten me to post 671 on you’re thread Rick. Post 671. Must be important Rick as Rudydoo reposted it very recently.
I would really like to hear your view. Or Rudys but he’s not man enough to explain himself.
And just remember Rick, Rudy took the first pot shots, and not just on my thread.
Your boys gone rogue Rick, surprised you got involved!
  • #1,142
  • Apr 7, 2022 4:26pm Apr 7, 2022 4:26pm
Hey Ryan

Why don’t you come in here and explain to me regards your post on your thread, post 671.

Which you repeated.

You banned me so that I cannot ask you, to explain yourself. So far you have ignored the question.
Not good for business is it Ryan.

You haven’t got the balls Ryan.

You were completely wrong, you know it, and you can’t face up to it.

The door remains open to you to explain yourself!
  • #1,143
  • Apr 7, 2022 7:58pm Apr 7, 2022 7:58pm
Quoting RickM
{quote}
Now I know I'm not supposed to post on your thread but please let me explain more about trading Crypto accounts.
Same as Forex, there's Fuck all liquidity so they PAY YOU TO TRADE
What we don't want to do is play the spread game with fraudulent brokers from the Cayman Islands.


Hi Rick,

I don’t mind reading what you bring to this thread at all.

So please don’t take what I am about to say personally. I am talking about all traders, and trade explainers, generally.


All of us, as long term traders, maybe should be mindful not to make trading appear in one particular way
(ie impossible to lose, exhilarating etc)

For any of us to suggest folks should migrate their current trading to maybe a crypto environment, when you say yourself Rick, it is also devoid of liquidity
does not give the suggestion a good look. We maybe should not be the advertising agents for any particular forms of trading or gambling.

If a Broker is paying a trader to trade (ie rebate) it will likely be for the benefit of the broker organisation, and not the trader. Surely we see this.
No broker spends millions of dollars on infrastructure & hardware and staffing for the sole benefit of the folks at the table.
It’s a bit like a casino providing free drinks & other inducements for someone to gamble at their tables.


So maybe none of us should be seen to be encouraging new traders, to come on over to a table that, ‘we ourselves sit at’.
Which will then create more liquidity for ‘our own table’.

While I am understanding you are doing this from a good place Rick, it sort of does not give a good look if you know what I mean, well to me that is.


And as example the spread on the EURUSD is usually close enough to zero, on most brokers, while even a 10 point spread is still just one pip in the long run.

Imho the success or otherwise of a trader will not usually be based around the spread (or even the commish for that matter).

Success or otherwise will more likely be determined by many OTHER (and often internal) factors relating to the trader and their conduct in the markets.

Just my two bobs worth.

All the best, to all, for the end of the trading week.
  • #1,144
  • Apr 7, 2022 9:58pm Apr 7, 2022 9:58pm
Quoting TimeTells
{quote} Hi Rick, I don’t mind reading what you bring to this thread at all. So please don’t take what I am about to say personally. I am talking about all traders, and trade explainers, generally. All of us, as long term traders, maybe should be mindful not to make trading appear in one particular way (ie impossible to lose, exhilarating etc) For any of us to suggest folks should migrate their current trading to maybe a crypto environment, when you say yourself Rick, it is also devoid of liquidity does not give the suggestion a good look. We maybe...
Hi Pete

My comments were just related to Ryan thread’s theme and what we do within the group.

It’s just one area of trading that I believe many are unaware of, so I invite them to take a look at crypto before the big players destroy it by controlling liquidity.
At the moment they don’t, there is no absorption of any measure - therefore

A bullish engulfing candle trades favourably
A pin bar candle trades favourably
Hell, for a short time technical analysis actually works very well.

New traders should be investigating Crypto, they may just notice it’s an easy environment to trade. The reason is all volume, delta, real time time and sales data is free and transparent.

We see everything- nothing goes unnoticed.

What the bad look is the forex brokers trick to put every new trader onto the B books, and trade against them.

Do you call that fair
Its a bloody disgrace

Are you happy to accept that?, I did for twenty years.
What a fool I was.
And still am, because I still trade EURUSD with the knowledge of one hand is tired behind my back.
If sucks but money is money, I do very well anyway.


But crypto trading is secondary to my main trading endeavours, which is trading US Future’s around NYO.

That takes years of experience to trade them profitability, I can’t send new traders to that area or they will be lambs to the slaughter.

My last word here. This is social media, it’s just a place where bored traders wait till the good markets appear.
Next week I will be trading from my favourite trading location in the world - Las Vegas. I won’t be bored or stupid enough to comment much further on crypto trading.

I am done here, I wish you guys and girls green pips
Trading thin liquidity at the boundary of the charts
  • #1,145
  • Edited 10:32pm Apr 7, 2022 10:13pm | Edited 10:32pm
Quoting TimeTells
{quote} Hi Rick, I don’t mind reading what you bring to this thread at all. So please don’t take what I am about to say personally. I am talking about all traders, and trade explainers, generally. All of us, as long term traders, maybe should be mindful not to make trading appear in one particular way (ie impossible to lose, exhilarating etc) For any of us to suggest folks should migrate their current trading to maybe a crypto environment, when you say yourself Rick, it is also devoid of liquidity does not give the suggestion a good look. We maybe...

So they are looking to gain an edge using broker inducements… sounds like the old pip rebate scam where a trader can trade, and needs to do little more than break even so as to retain deposit but profit from high turnover.
Or my old favourite of matched betting. Did well out of that, but like all inducements, bonuses, they become time limited. Especially if an IB fails to bring in the required numbers. To then have to chop and change brokers..
Or working within the spread, high turnover trading, scraping for every pip.
I hope I’m wrong for all of their followers but sounds as though their edge is effective on Crypto due to nuances of trading Crypto rather than trading itself.
Guarantee one thing, an edge gained through platform or differences between brokers will be rectified.
That’s a given.

Edit. Just seen Ricks post above this one. Just as I thought.
Double Edit. Perfect timing.
Kev trades NY open, and extremely successful he is to.
The method of which is for all to read in this thread, and George’s.
No cloak and dagger!
Tripple edit. Rick won’t post again regarding Crypto! No, but his mate will! Won’t be able to help himself!
  • #1,146
  • Apr 7, 2022 10:46pm Apr 7, 2022 10:46pm
Quoting moodybot
{quote}
So they are looking to gain an edge using broker inducements
... but like all inducements, bonuses, they become time limited.
Especially if an IB fails to bring in the required numbers.
To then have to chop and change brokers.

Hi Andy,

Yes I think you are seeing it all, clearly enough.

Trading is an easy game to play, just that it IS difficult to intuit OUR counter-party and their trading behaviour.
When we see OUR counter-party must also offload their holdings, we find ourselves back on a level enough playing field.
(minus the spread & commish as Rick did point out)

We trade on lol.
  • #1,147
  • Apr 7, 2022 10:58pm Apr 7, 2022 10:58pm
Quoting RickM
{quote}
A bullish engulfing candle trades favourably
A pin bar candle trades favourably
Hell, for a short time technical analysis actually works very well.

What the bad look is the forex brokers trick to put every new trader onto the B books, and trade against them.
Do you call that fair
Its a bloody disgrace
Are you happy to accept that?

Hi Rick,

I do understand that it can be very difficult for new forex traders into the currency markets. And more so maybe, for those attempting the "big hit runs". But also for scalpers too.

A bullish engulfing candle trades favourably
A pin bar candle trades favourably
Hell, for a short time technical analysis actually works very well.

Down on the 1min that I see, pretty much everything you say in those sentences above about crypto, is fairly much the same as in FX, imho.

- - - -

What the bad look is the forex brokers trick to put every new trader onto the B books, and trade against them.
Do you call that fair
Its a bloody disgrace
Are you happy to accept that?

It always struck me as an interesting concept. I mean being “traded against”.

Because if "a" trader IS being “traded against”, then surely another trader's direction is being traded “with” (if you know what I mean).


And I also reckon, (in my mind that is lol), if ALL THE TAs are currently showing a one-sided indi based direction
especially around the “opens”
then I always assume it is as likely as not that the market will “have to” run against that direction.
Not as any cruel or “bloody disgrace” lol as you say, but maybe as the only outlet for the COUNTER-PARTY to all those trades.

I mean someone (even in crypto) MUST be taking the EXACT OPPOSITE trades
else who would be “holding the bag” and paying out the winners I wonder.

I guess what I am saying to folks is DON'T be tricked, crypto MUST have a counter-party to YOUR trade as well. JUST like in Forex. Close your trade in profit is my only recommendation. I don't teach and I tell most folks, who don't find their own way here in the end, to maybe move on to something else in life. It is what it is.

All the best with it Rick, you seem to have a good handle on what you are doing, well done, and good fortunes to you in your new trading environment.
  • #1,148
  • Apr 7, 2022 11:03pm Apr 7, 2022 11:03pm
The thread is quite clearly a Crypto thread.
And should be in the Crypto section of this forum.
  • #1,149
  • Apr 8, 2022 12:02am Apr 8, 2022 12:02am
Quoting RickM
{quote} Hi Pete My comments were just related to Ryan thread’s theme and what we do within the group. It’s just one area of trading that I believe many are unaware of, so I invite them to take a look at crypto before the big players destroy it by controlling liquidity. At the moment they don’t, there is no absorption of any measure - therefore A bullish engulfing candle trades favourably A pin bar candle trades favourably Hell, for a short time technical analysis actually works very well. New traders should be investigating Crypto, they may just...
I have been trading Interactive Brokers since 2004 after FXCM banned my account for winning consistently from news trading.
Interactive Brokers is not a toy shop.
Practice makes a person perfect
  • #1,150
  • Apr 8, 2022 12:32am Apr 8, 2022 12:32am
Quoting RickM
{quote} Hi Pete My comments were just related to Ryan thread’s theme and what we do within the group. It’s just one area of trading that I believe many are unaware of, so I invite them to take a look at crypto before the big players destroy it by controlling liquidity. At the moment they don’t, there is no absorption of any measure - therefore A bullish engulfing candle trades favourably A pin bar candle trades favourably Hell, for a short time technical analysis actually works very well. New traders should be investigating Crypto, they may just...
Hi Rick...
I agree with several of your points and disagree with others I agree that the crypto market is changing as its a 2 trillion $ market and that's hard to be ignored.. You know i believe the quant firm Renaissance focuses on liquidity imbalances in other markets already as it pertains to large orders...and capitalizing on those large orders being pushed thru the markets...Perhaps something similar to what the 3 amigos are doing. I wouldn't be surprised if they are already in at lest the BTC ETH game.

I've personally traded cryptos or moreso dabbled in them on Binance starting several yrs ago, Obviously not the same I know but I enjoyed it and made a few bucks at it. I was actually down in Mexico and would be sitting under a palapa on the beach drinking Pacificos and trading cryptos on my holidays making beer money lol..
Cryptos can definitely be exciting to trade...but i try now to stay away from excitement haha..Just process repeated and repeated.

As for TA i use it daily and find its solid as a rock for me. Sometimes I will enter on a simple PA pattern and it works other times it doesnt. My success is in having great risk mgmt. If im wrong im out quick and will either re enter or wait for another opportunity. DTs and DBs are my bread and butter taken with high probability confluences and context. Ive even gone back down the FIB rabbit hole. Measured moves got me thinking as i was researching how many times does the first 18 5 min bars of the NY open DOW and S&P extend to 1x 2x etc.... anyways i have now backtested years of data and can say that the 127 and 161 FIB are high probability targets.. into the 70+ % area... Then if one understands the way a market moves... (I only trade the Dow or SP at the open for the last several years.. ) But when one understands the volatility times the market moves combined with TA of say the FIBS as a target and with the probabilities of the markets first 90 minutes moves..then we have a very solid edge.

So I must say I find engulfing bars pin bars etc.. all work very well when traded with high probability confluences. One never knows the outcome so we can only control our process,..is all i can say

As for brokers...Yes alot of shit brokers out there and ive traded with more than a few lol... My only suggestion for people is to trade with a good fixed spread broker with zero commissions for the best broker client experience... But with that said I dont believe brokers are to blame for traders failures... Traders fail for one simple fact.... there losing trades are bigger than their winners.. and that just boils right down to trading psychology..

And lastly I agree new traders should stay away from indices as it can be a quick lesson in how to lose money fast lol...but they are all drawn to US30 and as well Gold etc as they see the huge moves and get dollars in their eyes...

Anyhoo I wish you the best in your trading...

Cheers
Kevin

oops i didnt even mention my lines lol... no magic daily Hi Low opens NY and also broker and today was a prime prime example of a trade off only a line ...and what are lines ....nothing but a visual representation of price
Master your Mind,,,Master the Market
  • #1,151
  • Apr 8, 2022 7:25am Apr 8, 2022 7:25am
Oh dear Nozzer... come onto here and play with the big boys...!
  • #1,152
  • Apr 8, 2022 4:59pm Apr 8, 2022 4:59pm
Time to get back to the real stuff.

Line, lines, lines!

GJ

My bias for GJ has been Long for a few days.

Looking at Kev's theory with his box at US open, I have looked at GJ for London Open.

Keeping in mind that I would look for Long entries, the current daily Low was formed by the end of the box period, subsequently maxed at 161.8 Long during US session.

I'm keeping an open mind.

Thanks Kev.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: GBPJPY_ecnH1.png Size: 55 KB
Click to Enlarge Name: GBPJPY_Bluesteele.png Size: 75 KB
  • #1,153
  • Apr 8, 2022 8:31pm Apr 8, 2022 8:31pm
Hi Andy,

GBPJPY, what an interesting pair it has been this past week.
Friday’s range was a scalpers delight, up & down.

Currently on the Daily I have it turning up, during last Friday, though it ‘was’ on its way down.
On the Hourly I have it turning down at Friday’s end, closing in on the 50% move back inside the last swing, which is still another 18 pips south.

Where GJ opens Monday will be important, and then also what happens inside Asia
All preceeding the Franky/London opens.


Next week I honestly don’t have an opinion yet really, price could finally get itself out of this current range.

And if it does finally move, 200p again would not surprise.

With GJ - the best method imo - is go with the flow


the Day Open and the Day Close, always interesting,
At Fridays end, it was the Dicky Betts (Allmann Brothers Band) daily price move song …
“Back To Where It All Begins”

.
Attached Image (click to enlarge)
Click to Enlarge Name: GBPJPYH1 back to where it all begins.png Size: 30 KB
  • #1,154
  • Apr 8, 2022 9:14pm Apr 8, 2022 9:14pm
Quoting moodybot
Time to get back to the real stuff.
Line, lines, lines!

Quoting bluesteele
{quote}
oops i didnt even mention my lines lol...
no magic daily Hi Low opens NY and also broker
and today was a prime prime example of a trade off only a line
...and what are lines ....
nothing but a visual representation of price

Hi Andy & Kev,

Cheers guys for showing folks and trying to educate traders about the,

quite beautiful AND mathematically PERFECT ………

Horizontal Lines !!!


As Blue said, while some traders might be confused as to what they mean,

they are only & EXACTLY

…………… PRICE ………….

at different and (more importantly) specific levels.

________________________
  • #1,155
  • Apr 8, 2022 9:53pm Apr 8, 2022 9:53pm
Quoting TimeTells
{quote} {quote} Hi Andy & Kev, Cheers guys for showing folks and trying to educate traders about the, quite beautiful AND mathematically PERFECT ……… Horizontal Lines !!! As Blue said, while some traders might be confused as to what they mean, they are only & EXACTLY …………… PRICE …………. at different and (more importantly) specific levels. ________________________
The beauty regarding a horizontal line drawn on a chart is that it’s nothing other than a visual representation of a price point. And it’s the point that most naysayers hammer onto in the misconception that it’s a tarot card prediction.

It’s just a price point that a given trader requires particular emphasis for.

To make it easy to see for future reference.

The market is just a mathematical sequence that follows a set of rules.

Each sequence must remain in the boundary of the rules but provide a changing scenario giving the illusion of a fair and level playing field.

And in the the history of the human race where money is concerned, there has never been a fair and level playing field.

Once that is understood, that the market has to follow predefined rules, then the crap that appears elsewhere can be binned and traders can concentrate on how the market actually looks to deceive and entice traders to make incorrect decisions.

Why do upwards of 90% of traders fail? It’s just like the saps standing at the bar.

They all chase the best looking bird in the bar, who then ups the stakes to the very highest bidder. Most have to fail. Better play the percentages/probability and get a constant result…

Forex no different, as is life in general
  • #1,156
  • Apr 9, 2022 2:05am Apr 9, 2022 2:05am
Robots4me is an arselicker.......
How'd you get back onto Captals thread!!!!!!!!
  • #1,157
  • Apr 9, 2022 2:25am Apr 9, 2022 2:25am
Quoting moodybot
Robots4me is an arselicker....... How'd you get back onto Captals thread!!!!!!!!
Never underestimate the powers of an old fart -- we have our ways...
  • #1,158
  • Apr 9, 2022 2:37am Apr 9, 2022 2:37am
Quoting robots4me
{quote} Never underestimate the powers of an old fart -- we have our ways...
  • #1,159
  • Edited 4:00am Apr 9, 2022 3:35am | Edited 4:00am
Quoting Ihlas
This week's target GBPCHF {image}USDCHF {image}
The power of rectangles and lines
USDCHF hit the target
Attached Image (click to enlarge)
Click to Enlarge Name: USDCHFH4.png Size: 16 KB

GBPCHF is on the way
The two targets were defined according to different things, now lets test the power of triangle. The target is defined like USDCHF

XAUUSD
The price is flying over Bermuda Triangle. The target is at the Daily Open
Attached Image

PS: GU 1.30 got hit at last after many days
  • #1,160
  • Apr 9, 2022 3:42am Apr 9, 2022 3:42am
Quoting moodybot
{quote}
I didn't want you to feel I had received special treatment, so I'm gradually working-up to getting banned again. Wish me luck...
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