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  • #4,161
  • Nov 16, 2022 5:10am Nov 16, 2022 5:10am
Quoting Erebus
{quote} 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...
Thanks for your contribution. Hope you find a thread more to your taste
every Saint has a past. Every Sinner has a Future
  • #4,162
  • Nov 16, 2022 5:15am Nov 16, 2022 5:15am
Quoting TimeTells
{quote} 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)....
Your inflection break out TT - where was your stop placed; was it just below the inflection Zeppelin ?
every Saint has a past. Every Sinner has a Future
  • #4,163
  • Nov 16, 2022 12:14pm Nov 16, 2022 12:14pm
Quoting Erebus
{quote} 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...
Hi Erebus hope all is well... It takes some digging but Stacey has done live videos. One at least this past year where his screen with position (s) showing and screen recorded and shows the trade being TP'd closed out etc..

All the best
Blue
Master your Mind,,,Master the Market
  • #4,164
  • Nov 16, 2022 12:21pm Nov 16, 2022 12:21pm
Quoting turnip15
{quote} Your inflection break out TT - where was your stop placed; was it just below the inflection Zeppelin ?
Stoplosses are always placed where you think the market tells you, you were wrong.

Your lot size is then adjusted to your risk profile ( what you are prepared to lose) for that trade.
It never gets easier, you just get better
  • #4,165
  • Nov 16, 2022 3:42pm Nov 16, 2022 3:42pm
Quoting turnip15
{quote}
Your inflection break out TT - where was your stop placed; was it just below the inflection Zeppelin ?

Hi turnip,

Mate I try to be very careful with what I write.
Everything I write is all from a good place.
Nothing I write is to be followed by the letter.
I firmly believe each trader is an individual. And should trade that way also.


deano said it so well in a recent post.
Quoting deanyakobs
{quote}
and make your own recipe


- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -

Here's a quick read, or can be bypassed to the rest of my post below it

I have not invented a "new style," composite, modified or otherwise that is set within distinct form as apart from "this" method or "that" method. On the contrary, I hope to free my followers from clinging to styles, patterns, or molds. Remember that Jeet Kune Do is merely a name used, a mirror in which to see "ourselves". . . Jeet Kune Do is not an organized institution that one can be a member of. Either you understand or you don't, and that is that. There is no mystery about my style. My movements are simple, direct, and non-classical. The extraordinary part of it lies in its simplicity. Every movement in Jeet Kune Do is being so of itself. There is nothing artificial about it. I always believe that the easy way is the right way. Jeet Kune Do is simply the direct expression of one's feelings with the minimum of movements and energy. The closer to the true way of Kung Fu, the less wastage of expression there is. Finally, a Jeet Kune Do man who says Jeet Kune Do is exclusively Jeet Kune Do is simply not with it. He is still hung up on his self-closing resistance, in this case, anchored down to a reactionary pattern, and naturally is still bound by another modified pattern and can move within its limits. He has not digested the simple fact that truth exists outside all molds; pattern and awareness is never exclusive. Again let me remind you Jeet Kune Do is just a name used, a boat to get one across, and once across it is to be discarded and not to be carried on one's back.
— Bruce Lee

- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -


So, I am being very careful again here with my answer to your question, turnip .

I'm a discretionary trader. Nothing I do trading is hard-coded. I trade in the moment based on the flow of the market at the time.

As such I have no set stop-loss distance that is used in each & every scenario.
Sometimes the market is volatile requiring a certain response.
Sometimes the market is very quiet (inflection) requiring a different response.

In your quote-link from my post yesterday sorry I cannot remember my thoughts at the time of where a SL might be and I don't want to invent an answer just for the sake of it.

If I remember anything from the trades though it would not have been just below my green inflection ellipse (ie NOT a tight SL).
The market can breathe, or bellow, and I try to make the best decision at the time.

For example, when I returned yesterday pre-London the market had wonderfully gone berserk after I had closed & left earlier lol.
So I traded again, sell this time and picked up another +14 for a +59p day.
Then I was closed, flat & finished for the whole day within an hour of London opening. And did something else other than trading hahaaa.
While
Doing that pre-London trading (at the top edge of the market) I DID use a SL for a minus 2p trade loss.

But, at the point you asked about, the SL might though have been anywhere from a 13p to 24p loss when I look back now on that area this morning,
but it would have depended on how the market itself was now moving at the time.

So, an answer without an answer, very sorry. It's just the way I trade.

And I haven't even mentioned that sometimes I will reverse-hedge with a same lot trade in the very opposite direction, ie a sell to follow a DD buy,
to lock my equity while I then reassess the market instead of just closing out on a losing trade. I do not do this way often though.

So I will trade discretionary based on the moment not on a set procedure each time.
(Which is why I don't / CAN'T teach, or recommend, trading my way to anyone. And I won't)

Hope this helps a little into the mind of a discretionary trader

all the best T
Pete
  • #4,166
  • Nov 16, 2022 3:42pm Nov 16, 2022 3:42pm
Here's a quick GJ chart again as I like to do one up each morning and file it away in a Folder on my Desktop to review them all sometimes on a weekend.

I called this pic
"an organised market"




.
Attached Image (click to enlarge)
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  • #4,167
  • Nov 16, 2022 4:36pm Nov 16, 2022 4:36pm
Quoting TimeTells
{quote} Hi turnip, Mate I try to be very careful with what I write. Everything I write is all from a good place. Nothing I write is to be followed by the letter. I firmly believe each trader is an individual. And should trade that way also. deano said it so well in a recent post. {quote} - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - Here's a quick read, or can be bypassed to the rest of my post below it I have not invented a "new style," composite, modified or otherwise that is set within distinct form as apart from "this" method...
Pete, the holy grail of trading is the ability to hedge, lock - unlock a trade.
Just have to look at how many threads are nuked for suggesting the same...
  • #4,168
  • Edited 5:17pm Nov 16, 2022 4:52pm | Edited 5:17pm
Quoting Shabs19
{quote} Stoplosses are always placed where you think the market tells you, you were wrong. Your lot size is then adjusted to your risk profile ( what you are prepared to lose) for that trade.
If you have difficulty placing a discretionary stop then you could use a mathematical one, ATR.

You can use ATR to place stops, usually 1, 2 or even 3 times the ATR reading for that timeframe at that time of day. (This you learn from experience).

This would take in the volatility / range of the candles around at that time for that timeframe. The higher the TF , the higher the ATR readings.

On that particular scenario, it would have meant a stop of at least a minimum of 6 pips, or greater, depending on your attitude to risk for that potential trade.

Then you would only consider entering the trade if your potential TP is enough to fit with your RR & trading plan.

Here is a short video that would explain how this would work.

Edit : I have an indicator that prints an ATR value on my chart automatically, so I don't have to do it this way. Maybe your charting package has such a custom indicator ?

Inserted Video
It never gets easier, you just get better
  • #4,169
  • Nov 16, 2022 5:09pm Nov 16, 2022 5:09pm
Quoting moodybot
{quote}
Pete, the holy grail of trading is the ability to hedge, lock - unlock a trade.
Just have to look at how many threads are nuked for suggesting the same...

Ah, the nuker's Andy.

I remember you telling me about this type of poster years ago.
How right you were.

The question neither one of us has answered of course
(not required as it's A rhetorical question)
is WHY these folks are nuke'ing lol

That's the question each person could just ask themselves. The answer as you pointed out could be eye-opening
  • #4,170
  • Nov 16, 2022 5:11pm Nov 16, 2022 5:11pm
Quoting TimeTells
{quote} Hi turnip, Mate I try to be very careful with what I write. Everything I write is all from a good place. Nothing I write is to be followed by the letter. I firmly believe each trader is an individual. And should trade that way also. deano said it so well in a recent post. {quote} - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - Here's a quick read, or can be bypassed to the rest of my post below it I have not invented a "new style," composite, modified or otherwise that is set within distinct form as apart from "this" method...
Hey Pete,

I like the Bruce Lee quote so much I changed my tag line.

I realized very early that there was no way I could ever copy any method just as the "originator". This type of trading requires subjective decisions. It's more feel than know.

It also only took one picture from you to know our trading is not even close in execution. BUT. Philosophically and theoretically, your posts are more informative than many realize.

Take care
Mark ... Everything you have been told is a LIE
  • #4,171
  • Nov 16, 2022 5:20pm Nov 16, 2022 5:20pm
Quoting spzd
{quote}
Hey Pete,
I like the Bruce Lee quote so much I changed my tag line.
I realized very early that there was no way I could ever copy any method just as the "originator".
This type of trading requires subjective decisions.
It's more feel than know. It also only took one picture from you to know our trading is not even close in execution.
BUT. Philosophically and theoretically, your posts are more informative than many realize. Take care

Either you understand or you don't, and that is that.

Hahaa, wonderful, yes

And the most wonderful/miraculous thing is Mark, that we ALL learn, often from each other, as I have learned things also over on your thread.
And you too pal

  • #4,172
  • Nov 16, 2022 5:23pm Nov 16, 2022 5:23pm
Quoting TimeTells
Here's a quick GJ chart again as I like to do one up each morning and file it away in a Folder on my Desktop to review them all sometimes on a weekend. I called this pic "an organised market" . {image}
Hi TT,

Try drawing the Previous Week & Current Week's Open Lines on the same chart.............
It never gets easier, you just get better
  • #4,173
  • Nov 16, 2022 6:01pm Nov 16, 2022 6:01pm
Quoting Shabs19
{quote}
Hi TT, Try drawing the Previous Week & Current Week's Open Lines on the same chart.............

Hi Shabs,

Mate those Lines you suggest & MANY OTHERS reside on the four individual templates that I have at my disposal lol.


Different lines (just like yours), also on different timeframes which I can handle easily as I follow essentially one pair only.
I employ Monthly Lines as well, the prev Hi's & Lo's I mean, and others.

I do this as I assume certain styles of trader ie Day, Swing & Positional traders will be looking at them also.
But I do NOT use any of the lines as a trade signal tho, I wait to see how the market and other traders respond to them, from them & around them, first.

I emply ma's as well. And on diff tf's I will use combo's of simple, exponential and linear to give me what I want to see after years of studying.
So I have the biggest, broadest, as well as smallest (1 min) views I can get on my one pair.

And as I say, NOT one of those aids tells me where or when to enter or exit a trade.

It is only the market behaviour itself at the time that determines when & how I trade.

Your suggestion Shabs is terrific, thank you, and will assist many traders trying to understand both micro & macro structure.


(PS not one person asks what the 'crimson' lines are lol. One will know, but he doesn't post anymore and as promised I will not discuss them, they are just what I call Market Rotational Lines lol , sorry for that tease folks but that's just how I am today on this fine morning )

PLUS
The Uk today have an "unannounced" time for their "Autumn Forecast Statement" lol, which I assume will have some market impact and being 'tentative' in its timing I will rest assured that NO ONE in the know will know BEFORE the announcement (and use that info ) - just teasing again folks .

Trade well, trade safe all.
  • #4,174
  • Nov 16, 2022 7:31pm Nov 16, 2022 7:31pm
Quoting bluesteele
{quote} Hi Erebus hope all is well... It takes some digging but Stacey has done live videos. One at least this past year where his screen with position (s) showing and screen recorded and shows the trade being TP'd closed out etc.. All the best Blue
Thanks, the struggle goes on as usual.

Okay, I'll have a look for those.

As I said, it just seems so glib of him to show the price action in hindsight and explain what was happening.

I mean, he doesn't miss a move of course, but can that be done in real time was my question.

Cheers and good trading to all.

It takes a lot for me to IGNORE you, but you can try.
  • #4,175
  • Nov 17, 2022 1:30am Nov 17, 2022 1:30am
Quoting turnip15
{quote} 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
Hi Turnip15,

I have marked the PFL and the Higher Low. The PFL was the low of London session and once the higher low was formed with price going above DOL i placed my trade as the chances were very good for price to reach the target on above.
Attached Image (click to enlarge)
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  • #4,176
  • Nov 17, 2022 1:31am Nov 17, 2022 1:31am
Good old Crypto, best make the most out of a scam before it collapses.

The fact that Blair and Clinton are in on it should provide enough of a warning.

https://www.dailymail.co.uk/news/art...M-LEONARD.html

Oh well shit happens, might have to learn how to draw a line!
  • #4,177
  • Nov 17, 2022 1:43am Nov 17, 2022 1:43am
Quick GBP, GBY trades. Both trades had take profit at RNs. Nothing big but quite clear targets after double bottom and pins around RNs. All about Time and RNs. Both for entries and exits. Trade Well All.
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: GBPUSDM1.png Size: 18 KB
  • #4,178
  • Nov 17, 2022 5:23am Nov 17, 2022 5:23am
Try to guess the outcome. At the end this is direction guessing game.
Make mistakes, learn from mistakes.
Be confident with your targets.
Attached Image (click to enlarge)
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  • #4,179
  • Edited 6:01am Nov 17, 2022 5:36am | Edited 6:01am
https://www.forexfactory.com/thread/...alysis-fallacy


What many traders do not know, or may fail to recognise, is that your success in taming the markets, is comprised of a mix of ingredients. Not so unlike in baking cakes.

I suggest three very important ingredients. One is " Market Structure ", the other is "YOU", then Capitalisation. Of course there are many more components, for the moment these seems of dominant importance, in my humble opinion.

Attached Image (click to enlarge)
Click to Enlarge Name: 2022-11-17_12h00_06.png Size: 35 KB
It never gets easier, you just get better
  • #4,180
  • Nov 17, 2022 6:11am Nov 17, 2022 6:11am
Quoting Shabs19
https://www.forexfactory.com/thread/...alysis-fallacy What many traders do not know, or may fail to recognise, is that your success in taming the markets, is comprised of a mix of ingredients. Not so unlike in baking cakes. I suggest three very important ingredients. One is " Market Structure ", the other is "YOU", then Capitalisation. Of course there are many more components, for the moment these seems of dominant importance, in my humble opinion. {image}
From the wisest man on Forex Factory--FTI. Again, everyone should read and study the first 250 pages of his thread. Then read and study them again!
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