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Flying Dutchman

  • #4,141
  • Nov 14, 2022 4:22am Nov 14, 2022 4:22am
Bet you G/J fans were all over this
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every Saint has a past. Every Sinner has a Future
  • #4,142
  • Nov 14, 2022 8:01am Nov 14, 2022 8:01am
Quoting turnip15
Bet you G/J fans were all over this {image}
Easier to trade without Volume.......................
It never gets easier, you just get better
  • #4,143
  • Nov 14, 2022 4:08pm Nov 14, 2022 4:08pm
Market Mechanics & Market Behaviour

Same as it always was.

Not a Trading Chart, just showing again the high organisation of our (random ) markets, over & over.


.
Attached Image (click to enlarge)
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  • #4,144
  • Nov 14, 2022 7:18pm Nov 14, 2022 7:18pm
A couple of articles that Tom Hougaard just wrote for a talk he was giving this weekend .

First is "The Dopamine Effect" how to trade with little/no emotion....

Second is "The 10k hour rule".

Or vice versa ....

Both short reads and very well worth a few minutes of your time ...

Cheers
Blue..

Attached File(s)
File Type: pdf 10k Hour Rule and The Role of Deliberate Practise in Trading.pdf   125 KB | 506 downloads
Attached File(s)
File Type: pdf The Dopamine Connection and Other Related Stuff.pdf   135 KB | 872 downloads
Master your Mind,,,Master the Market
  • #4,145
  • Nov 14, 2022 11:33pm Nov 14, 2022 11:33pm
Quoting deanyakobs
{quote} This is a loss art in George method (chart time) that seems no one give a serious discussion bacause so many troll attack at that time. This where mr. G price entry FILTER and grinding filter come in action before we take multiple entries and, if we adding that with BWilliam insight about WHERE THE TARGET 'WILL' TAKEN FIRST by MM ( another lens of analysis & skills ). The art is loss because our different unconciousness metaprogram and thats why we 'must' find our road as trader. The discussion is loss because we have different objective...
hi dean
why u wont explain that?
  • #4,146
  • Nov 15, 2022 12:05am Nov 15, 2022 12:05am
Quoting TimeTells
Market Mechanics & Market Behaviour Same as it always was. Not a Trading Chart, just showing again the high organisation of our (random ) markets, over & over. . {image}
hi pete thank you for sharing your knowledge
but i like new traders wont understand easily.
as i am starring at chart screen i observed trading below 1 hour time frame make lot of confusion to take profit or entry
  • #4,147
  • Nov 15, 2022 12:18am Nov 15, 2022 12:18am
Quoting venkatredy
{quote}
hi pete thank you for sharing your knowledge but i like new traders wont understand easily. as i am starring at chart screen i observed trading below 1 hour time frame make lot of confusion to take profit or entry

Hi V, I do understand pal.
The issue maybe is how 'each' of us think of what is entry (and later what is TP).
For entry we might assume market will do something.
But why will our assumption make the market move. It cannot.
The market has to have a 'place' it is going to.
I call this place targets.
How can we place an entry without expecting an arrival 'somewhere'.
Unless we just scalp and price moves 5 pips and we exit. Some do this very, very well.
Others like to use maths and calculate the market has extremes, both here above AND there below, with demarcations in between.

WE HAVE to have an idea of where market might go ONCE market IS moving (I have target above AND below so do not care for short term direction knowledge, I let the market show me, but mainly that is asia session while NY session can do something very different).

Kev calls these places (targets) Interaction Points.
If a trader can improve their own understanding of HOW (not why) market is moving to the NEXT Interaction Point, then trader will have a better plan to enter.

Can you do maths, then why not look at larger Interaction Points.
I have laboured today with 5 trades for 25 pips. But each was TO an interaction point, NOT a large scale off to the moon one direction only type trade.
Works for me, others will trade different.

That is why Deano says from your link to his quote...

"and make your own recipe.

many ways to skin the cat
FOR YOUR SAFETY
while learn and read real trader lesson anywhere you find it
always assume : ONE TRADER IS ONE SET UP WITH ONE CERTAIN THINKING PROCESS
JUDGE NO ONE"

You must find the way to SEE the market so that you do not ask, "which way will price go, up or down",
you will know your probability on that question and you will only ask yourself,
"should I enter now, yes or no" (and you will KNOW your answer - if not, my suggestion is to bypass the trade NOW and wait till you have more clarity)
  • #4,148
  • Nov 15, 2022 2:47am Nov 15, 2022 2:47am
Two quick trades during London session. Little late on entry but the target was hit. Target was DOL. It is still moving up but i am happy with what i got. My targets are either RNs or PFHs or PFLs, whichever comes first. Trade Well All.
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  • #4,149
  • Nov 15, 2022 10:46am Nov 15, 2022 10:46am
Hi pete
today i took sell trade as i thought it will reach to target but it reverse from there
can u please tell where is my mistake

sorry this is our india bank nifty chart
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  • #4,150
  • Nov 15, 2022 10:58am Nov 15, 2022 10:58am
Quoting deanyakobs
{quote} This is a loss art in George method (chart time) that seems no one give a serious discussion bacause so many troll attack at that time. This where mr. G price entry FILTER and grinding filter come in action before we take multiple entries and, if we adding that with BWilliam insight about WHERE THE TARGET 'WILL' TAKEN FIRST by MM ( another lens of analysis & skills ). The art is loss because our different unconciousness metaprogram and thats why we 'must' find our road as trader. The discussion is loss because we have different objective...
Hi dean
which target taken first
Target with herd resistance/support ?
or single Target( HL/LH)?
  • #4,151
  • Edited 4:13pm Nov 15, 2022 4:00pm | Edited 4:13pm
Quoting venkatredy
{quote} Hi dean which target taken first Target with herd resistance/support ? or single Target( HL/LH)?
It's not something I trade, but Market Structure is always there. Market likes to TRAP to fill their ORDERS

The circles are where you should be buying @ discount

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It never gets easier, you just get better
  • #4,152
  • Nov 15, 2022 4:07pm Nov 15, 2022 4:07pm
Quoting venkatredy
Hi pete today i took sell trade as i thought it will reach to target but it reverse from there can u please tell where is my mistake sorry this is our india bank nifty chart {image}

Hi V,

I looked at your chart above in magnification but I cannot see where you entered your trade.
Can you put your trade result arrows in there please to help me.

ie Where did you enter a SELL trade and maybe explain why you chose to do so at the place you did will help me give a reply to you.


EDIT: ahh i see the down arrow in there thank you, give me a minute or two.

all the best
Pete
  • #4,153
  • Nov 15, 2022 4:35pm Nov 15, 2022 4:35pm
Quoting venkatredy
Hi pete today i took sell trade as i thought it will reach to target but it reverse from there can u please tell where is my mistake sorry this is our india bank nifty chart {image}

Hi V,
Here's a link to tradingview and your bank chart that I found

https://in.tradingview.com/chart/?sy...SE%3ABANKNIFTY

It is a 5m chart and I can see that the instrument had been making higher lows at a point after the opening in relation to prior days.
We can see this upward momentum from your Yellow Horizontal Lines below price that were stepping higher.

Your Moving Averages showed a stall in price movement just before your trade and price slipped under your MA's at that point and I might assume that is where you thought the day's momentum had stopped.

Not an unreasonable thought so don't be too harsh on yourself.
However, IF you changed the parameters of your MA's you might find another parameter STILL had price above those different MA's with NO inclination of a sell.

If you are using those current MA's as your trade entry signal, and as you have stated before this type of market behaviour 'against' your trades happens regularly,
then it might be the MA's that are causing you to trade at THAT point with trades then going into DD or become a loss (I'm not sure).

From a distance it appears to me (on the 5m) that price was forming a Range Inflection at your entry where price would likely breakout at some point but in WHICH direction I usually have to wait to determine.

For example, IF price had gone lower (at your arrow) without you trading and broken the yellow horizontal line (YHL) below then there could be a trade setup SELL down to the YHL below it and the one below it again at the bottom of your chart.

Trading stocks or indices I imagine are NOT similar to currency trading where prices can & will return to prior levels while there is NO reason (or limitation) on a stock price for not going to continue up & up without retracement during a single trading day (I do not know this stock, sorry).

It might be best to look at the past history of BankNifty on this chart

https://in.tradingview.com/symbols/NSE-BANKNIFTY/

Where we can see a continual rise in price from June this year.

This may well be an instrument where you are best to follow with the determined momentum direction.

For pullbacks (reversals against the current momentum) maybe examine other MA parameters and see what might better indicate where you are getting caught in the wrong trade at the wrong time.

Shab's structure chart is a great overview and maybe it will be best in future to wait for the pullback and THEN enter a buy trade back in the direction of momentum.
Reversal trading against the directional momentum will always be the most demanding of trading styles.

All the best V
Pete
  • #4,154
  • Edited 5:16pm Nov 15, 2022 4:58pm | Edited 5:16pm
Quoting TimeTells
{quote} This may well be an instrument where you are best to follow with the determined momentum direction. For pullbacks (reversals against the current momentum) maybe examine other MA parameters and see what might better indicate where you are getting caught in the wrong trade at the wrong time. Shab's structure chart is a great overview and maybe it will be best in future to wait for the pullback and THEN enter a buy trade back in the direction of momentum. Reversal trading against the directional momentum will always be the most demanding of...
I keep saying this, zoom out from these charts, always look at the bigger picture.

This pattern occurs every single day and on every instrument at Market Opens, except maybe on High Impact News days.

The Professionals are looking to Buy / Sell more at discount and the amateurs are looking to trade reversals, providing liquidity that the Pro traders need.

Feed off from the scraps of the sharks, swim with them and don't be the food.
It never gets easier, you just get better
  • #4,155
  • Nov 15, 2022 7:23pm Nov 15, 2022 7:23pm
Quoting venkatredy
Hi pete today i took sell trade as i thought it will reach to target but it reverse from there can u please tell where is my mistake sorry this is our india bank nifty chart {image}

Hi V,

Not sure whether this chart below will help or hinder, but sometimes a Chart is easier to assess than long words.


I ONLY added to this chart a .... 20EMA as an ... example .... only of where an indi might provide a false signal against the momentum.

I DO NOT use this ema in LIVE trading at all. Pls do NOT use this V, as it really just to show how an INDI MA-switchover can sometimes trick us traders.
(though I DO use ma's & indis - while only for structure - continuance etc - NOT ever as a trade SIGNAL - that choice is only up to me).


It was a quick four trades and I am all closed, flat & done for Asia now and will likely come back for Franky-Londion open to check what has happened in between.
(I often hope price has gone berserk in between - NO fomo - as then that may setup a further 'potential' trade in a now 'new' area of the chart).

Again V, maybe trading with the current momentum direction will be easier on your trading, I do not know. Up to you, sir.

all the best pal
Pete

.
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  • #4,156
  • Nov 16, 2022 2:01am Nov 16, 2022 2:01am
Frankfurt session trade. Just 15 pips. Should have put triple top as target but was happy with the RN. Slowly learning that its best to join the big players a bit later when the price is on the move than to track tops and bottoms. 15 to 20 pips is what i look for now. Has worked well so far. Trade Well All.
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  • #4,157
  • Nov 16, 2022 3:29am Nov 16, 2022 3:29am
Quoting whitesta
Frankfurt session trade. Just 15 pips. Should have put triple top as target but was happy with the RN. Slowly learning that its best to join the big players a bit later when the price is on the move than to track tops and bottoms. 15 to 20 pips is what i look for now. Has worked well so far. Trade Well All. {image}
Well done but just to clarify in my mind: Where is the PFL and why did it matter in this case at what point on the chart?
Sorry to be so intrusive but I am very keen on this approach
every Saint has a past. Every Sinner has a Future
  • #4,158
  • Edited 5:11am Nov 16, 2022 3:49am | Edited 5:11am
General question re Stacey Burke etc

Are these PFL's and a double top? EDIT: I meant Peak Formation High's !!

LONDON session
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every Saint has a past. Every Sinner has a Future
  • #4,159
  • Nov 16, 2022 4:46am Nov 16, 2022 4:46am
Quoting turnip15
General question re Stacey Burke
Here is my question about Stacy Burke

For all the talking and videos he posts, don't you think he could record just 1 trading session and post that?

Doesn't have to be "live" just record the video and share the procedure with all.

He could cherry pick the best session of the week, no problem.

Until then, he is all fluff and hot air...

It takes a lot for me to IGNORE you, but you can try.
  • #4,160
  • Nov 16, 2022 5:00am Nov 16, 2022 5:00am
I'm scalping small pips with a small Live account.
Time will tell where I'll get at ;-)))
Imre mr. Vig on TikTok https://www.tiktok.com/@heyMickeyNYC1
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