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Flying Dutchman

  • #2,921
  • Sep 2, 2022 2:57am Sep 2, 2022 2:57am
Quoting whitesta
Thanks to Bluesteele and spzd. This is what we could have traded. Some good pips were offered. As they say its best to trade from outside. Never guaranteed what the low or high will be as i am just dissecting the info these traders are giving us. Lots to learn but few things are always there like Time and RNs. We just need to see the confluences and try and locate the Hs and Ls. Better than the indicators i guess. Have put some points on the chart. Lots of ways to skin the cat. Trade Well all. {image}
A term I am trying to find an example of ?
every Saint has a past. Every Sinner has a Future
  • #2,922
  • Sep 2, 2022 3:43am Sep 2, 2022 3:43am
Trying to fit my approach to ideas in this thread.
Dax trades worked out okay but some of the Stacey stuff here could have saved me losing trades ?
Previous levels etc?
Couldn't help noticing "Cats ears" made an appearance far right top - Double Top
Still learning to adapt so feel free to comment.
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every Saint has a past. Every Sinner has a Future
  • #2,923
  • Sep 2, 2022 3:59am Sep 2, 2022 3:59am
Quoting BWilliam
{quote} Excellent question FWR. This is the type of on point discussion that FF lack.
Looks like no answer coming though, just like the algo / algos question.
  • #2,924
  • Edited 4:54am Sep 2, 2022 4:39am | Edited 4:54am
Quoting FocusWinReal
Looks like no answer coming though, just like the algo / algos question.
Hi FWR, I've asked a lot of difficult questions on this thread. Crickets too.

These are hard questions aimed at the core of the assumptions.
The most common answer is I don't need to know.( Because Idk)

My advise to new traders is to spend time think about the assumptions that were adopted, if they make sense.
At the very least be aware of the underlying assumptions.
There are plenty of assumptions that don't make sense.
The result is the trades reflect this same lack of logical sense why market value upward or downward.

Traders who don't find success with ob/os indicators jump over to candlestick patterns. Vice versa.
No surprise many swear by PA and candlestick patterns given the number of books and videos out there..

The most common basis is repeated ohlc patterns, meaning a series of candlestick pattern or ohlc patterns observed in the past.
The 2nd most common basis is repeated ob/os indicator pattern.
The 3rd is the surge in liquidity and volatility during futures open/close times, stock market open/close times , and the WM/Reuters benchmark rates.

Without proper basis for the adopted assumptions, it attracts query and criticisms.

Like I wrote earlier, the attitude of traders is make money, mine is not to ask the reason why.

Lets leave it at that. Cheers
Know what you trade
  • #2,925
  • Sep 2, 2022 6:00am Sep 2, 2022 6:00am
Over time I have gained a feeling that my posts are out of sync with what other people are posting here. Rather than annoy Anyone I will retire to the sidelines and observe. Great stuff on this thread and I will persevere reading.
every Saint has a past. Every Sinner has a Future
  • #2,926
  • Edited 6:23am Sep 2, 2022 6:08am | Edited 6:23am
Quoting turnip15
Over time I have gained a feeling that my posts are out of sync with what other people are posting here. Rather than annoy Anyone I will retire to the sidelines and observe. Great stuff on this thread and I will persevere reading.
I thought your posts were great. I like your charts and your thought behind it that make others think. It'll be good if you continue to post more often.

Imo there should be plenty of different points of views that members can see how different folks see this Forex market. Discuss freely what they think about specific subjects. I maintain a very open mind, I listened to every trader, that's how I learn. What I don't agree to is to restrict conversation, mark certain topics as taboo. There are no sacred cows.

I should be the one who stop posting. My posts address difficult topics that make others uncomfortable. Cheers
Know what you trade
  • #2,927
  • Sep 2, 2022 6:34am Sep 2, 2022 6:34am
Quoting BWilliam
{quote} I thought your posts were great. I like your charts and your thought behind it that make others think. It'll be good if you continue to post more often. Imo there should be plenty of different points of views that members can see how different folks see this Forex market. Discuss freely what they think about specific subjects. I maintain a very open mind, I listened to every trader, that's how I learn. What I don't agree to is to restrict conversation, mark certain topics as taboo. There are no sacred cows. I should be the one who stop posting....
If your posts, as an experienced trader, pushes boundaries and move people out of their comfort zones, then that be be only a good thing. Hope you keep posting so that I, and other newer ( maybe some not so new) thread members, can catch up with more new knowledge posted by your good self and others. I shall pause awhile though, to digest and pore over what I have printed off thus far.
every Saint has a past. Every Sinner has a Future
  • #2,928
  • Edited 6:48am Sep 2, 2022 6:37am | Edited 6:48am
Quoting turnip15
If your posts, as an experienced trader, pushes boundaries and move people out of their comfort zones, then that be be only a good thing. Hope you keep posting so that I, and other newer ( maybe some not so new) thread members, can catch up with more new knowledge posted by your good self and others. I shall pause awhile though, to digest and pore over what I have printed off thus far.
Hi Turnip, the standard response to anyone who post chart analysis or trades is this same one question,

Why do you think at that moment you mark on your chart or at the point you took the trade that the value of the currency might rise or fall and to what extent?
(Reason for this query is to stir thought about the assumption of value intent.)

To me, this is the boundary that most traders don't look at. That's why the ask. It's definitely not to put the member on the spot.

***I won't ask on forum this difficult question. That's the standard question in my head.
Know what you trade
  • #2,929
  • Sep 2, 2022 7:23am Sep 2, 2022 7:23am
Quoting BWilliam
{quote} Hi GEfx, that's the central part of my style as well. I won't trade unless this is triggered. This essential step is to mitigate the risk, part of the risk management protocol. We think very much alike, but no surprise we are taught similar stuff from the same school. Cheers
Hi BW, yes I look for trades that develop after a pullback or retrace. So when we see a prolonged move without a pullback, I start to get a little apprehensive about add-on trades. It's always best to see the pullback in the rear view mirror. Trade well...here comes NFP!
  • #2,930
  • Sep 2, 2022 7:26am Sep 2, 2022 7:26am
Quoting FocusWinReal
{quote} That first target in your image is the weekly open too. Would you stay in the position after being 20 pips up to now be in drawdown to then see the target out? Or would you take break even? GJ did that in NY after equities open. Or would you only take w entry?
Don't know how he would trade it.

I would have been stopped out BE+. If the next dip had an entry signal and the trade fit my thinking I would enter again.

The WOL would have no effect as I don't use open lines. I know they have value. At this point I have not incorporated them (and may not).
Mark ... Everything you have been told is a LIE
  • #2,931
  • Sep 2, 2022 7:43am Sep 2, 2022 7:43am
Quoting FocusWinReal
{quote} That first target in your image is the weekly open too. Would you stay in the position after being 20 pips up to now be in drawdown to then see the target out? Or would you take break even? GJ did that in NY after equities open. Or would you only take w entry?
As per the first arrow around US open. The trade would hit the weekly open with very little drawdown. The second entry after US equity open would be the next trade cos the LOW of the day was set and the second entry was above that which was a pullback. Unless i am missing something.
  • #2,932
  • Sep 2, 2022 7:52am Sep 2, 2022 7:52am
I didn't see any good opportunity with GBY/JPY, Eur/Jpy in the London session. Was having a look at Stacey Burk's videos to understand the Hs and Ls. Not sure if others got some trades in during London Open. I just didn't see price near RNs enough. Eur/Jpy was ok for a trade maybe but only hindsight now. With triple bottoms or so on 1 minute chart but as i said all after it happened.
  • #2,933
  • Sep 2, 2022 8:20am Sep 2, 2022 8:20am
Quoting whitesta
I didn't see any good opportunity with GBY/JPY, Eur/Jpy in the London session. Was having a look at Stacey Burk's videos to understand the Hs and Ls. Not sure if others got some trades in during London Open. I just didn't see price near RNs enough. Eur/Jpy was ok for a trade maybe but only hindsight now. With triple bottoms or so on 1 minute chart but as i said all after it happened.
EJ

Two possible entries in the London session zone. First was approx 25 pips the second about 50 pips. Since this is not an exact science price does not need to be sitting right on a BRN. The 2nd entry was just below the 140 BRN.

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The Highs and Lows are dynamic as you move through the day. By looking at price being in a box you can see the new daily Highs and Lows being created.

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Mark ... Everything you have been told is a LIE
  • #2,934
  • Sep 2, 2022 8:44am Sep 2, 2022 8:44am
Quoting spzd
{quote} EJ Two possible entries in the London session zone. First was approx 25 pips the second about 50 pips. Since this is not an exact science price does not need to be sitting right on a BRN. The 2nd entry was just below the 140 BRN. {image} The Highs and Lows are dynamic as you move through the day. By looking at price being in a box you can see the new daily Highs and Lows being created. {image}
Boxes of twelve candles = 3 hour session ?
What do the orange horizontal lines denote please ?
thanks
every Saint has a past. Every Sinner has a Future
  • #2,935
  • Sep 2, 2022 8:53am Sep 2, 2022 8:53am
Quoting turnip15
{quote} Boxes of twelve candles = 3 hour session ? What do the orange horizontal lines denote please ? thanks
I reduced my boxes to 1 hour/4 candles starting at the hour of the equities open. Makes it easier for me to see things.

The orange horizontal lines are the new highs and lows being formed as price moves.

The purplish boxes are to demonstrate how price moves in boxes.

None of this is exact science. It comes close enough for my purposes. Look for repeatable signals.
Mark ... Everything you have been told is a LIE
  • #2,936
  • Sep 2, 2022 9:13am Sep 2, 2022 9:13am
WHY?
  • #2,937
  • Sep 2, 2022 9:27am Sep 2, 2022 9:27am
Quoting whitesta
{quote} As per the first arrow around US open. The trade would hit the weekly open with very little drawdown. The second entry after US equity open would be the next trade cos the LOW of the day was set and the second entry was above that which was a pullback. Unless i am missing something.
Ok thanks for that all clear. I looked at the equities open candle which went up then pulled back then up again. Wasn't focusing on the previous low before the equities open.
  • #2,938
  • Edited 9:49am Sep 2, 2022 9:32am | Edited 9:49am
Quoting spzd
{quote} Don't know how he would trade it. I would have been stopped out BE+. If the next dip had an entry signal and the trade fit my thinking I would enter again. The WOL would have no effect as I don't use open lines. I know they have value. At this point I have not incorporated them (and may not).
All clear there, thanks. I mentioned the weekly open only as reference near the target as an observation. Incorporating things into a style comes from experience I guess. Lot's of chart time in multi sessions learning how price develops.
  • #2,939
  • Sep 2, 2022 9:36am Sep 2, 2022 9:36am
Quoting turnip15
Over time I have gained a feeling that my posts are out of sync with what other people are posting here. Rather than annoy Anyone I will retire to the sidelines and observe. Great stuff on this thread and I will persevere reading.
Had to post this to show faulty thinking and being saved by a level. Then back to studies lurking
Nasdaq. I had premarked some 15 minute and squeezed up 5 minute levels to the left of 1:30UK time.
First "?" I thought price would bounce off my 5 minute level for a Long. But it came down and knocked me out.
Next "?" was a short as price moved up slightly then came down through 5 minute level and hit previous low, it began to move up and I panicked not wanting to lose some pips and closed for a few pips.
Why the third "?" worked I am not sure - bounced nicely off round number area 12300( Wick sat on the line) sitting near 5 minute support pre - 1:00pm ( UK Time).
Still learning
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every Saint has a past. Every Sinner has a Future
  • #2,940
  • Sep 2, 2022 9:41am Sep 2, 2022 9:41am
Quoting turnip15
Trying to fit my approach to ideas in this thread. Dax trades worked out okay but some of the Stacey stuff here could have saved me losing trades ? Previous levels etc? Couldn't help noticing "Cats ears" made an appearance far right top - Double Top Still learning to adapt so feel free to comment. {image}
I try to keep it simple so when concepts like FVG's come up I just can't see them or how I can use them.
I'm more patient to wait for trends even the counter ones.
M's and W's are nice in theory but I find them hard to trade and have confidence in them. Kind of subjective and open to interpretation. But I see your cat ears as you say.
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bluesteele