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Flying Dutchman

  • #7,981
  • May 3, 2023 8:36am May 3, 2023 8:36am
Quoting fxpider
{quote} Do we have any alternative? Please don't mention CRYPTO.
Wish I did. And crypto is dead. Once they start rolling out the CB digital currency crypto for most will be worthless.
Mark ... Everything you have been told is a LIE
  • #7,982
  • May 3, 2023 8:37am May 3, 2023 8:37am
Quoting fxpider
{quote} I can't even follow myself, let alone others. It is quite amazing, how different traders see the same chart in so many different ways.
Tried to follow myself once ... got lost and took a few weeks to get back.
Mark ... Everything you have been told is a LIE
  • #7,983
  • May 3, 2023 8:41am May 3, 2023 8:41am
gj below previous h4 body mid.
another news to go.
then fomc.
so don't play too much.
Attached Image
ITB - Seeing Orderliness amongst 'Randomness'
  • #7,984
  • May 3, 2023 8:55am May 3, 2023 8:55am
some scalps when gj broke support and retraced.
no more trading.
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ITB - Seeing Orderliness amongst 'Randomness'
  • #7,985
  • May 3, 2023 9:04am May 3, 2023 9:04am
pre fomc, can't decide where to go.
so ranging .......
the slaughtering ground.
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ITB - Seeing Orderliness amongst 'Randomness'
  • #7,986
  • May 3, 2023 9:09am May 3, 2023 9:09am
Quoting Inthebox
pre fomc, can't decide where to go. so ranging ....... the slaughtering ground. {image}
These are the times to just sit back and relax.

Me. Watching "White Boy Rick" waiting for the market to get back to biz.
Mark ... Everything you have been told is a LIE
  • #7,987
  • May 3, 2023 9:29am May 3, 2023 9:29am
Quoting spzd
{quote} These are the times to just sit back and relax. Me. Watching "White Boy Rick" waiting for the market to get back to biz.

i am playing mobile game "War Robots".
ITB - Seeing Orderliness amongst 'Randomness'
  • #7,988
  • May 3, 2023 10:24am May 3, 2023 10:24am
Quoting fxpider
{quote} Do we have any alternative? Please don't mention CRYPTO.
We probably started out with one of these
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every Saint has a past. Every Sinner has a Future
  • #7,989
  • May 3, 2023 10:32am May 3, 2023 10:32am
Quoting turnip15
{quote} We probably started out with one of these {image}
my grandfather never kept any money in the bank, he lived through the great depression.
he did not trust banks and also did not use credit always paid in cash only.
.
without patience how can you be a trader?
  • #7,990
  • May 3, 2023 11:21am May 3, 2023 11:21am
Quoting Steverino832
{quote} my grandfather never kept any money in the bank, he lived through the great depression. he did not trust banks and also did not use credit always paid in cash only. .

If you deposit money in the Bank, they will only lend it out tenfold.

It's called Fractional Reserve Banking, legitimised Fraud.
It never gets easier, you just get better
  • #7,991
  • May 3, 2023 11:25am May 3, 2023 11:25am
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ITB - Seeing Orderliness amongst 'Randomness'
  • #7,992
  • May 3, 2023 11:36am May 3, 2023 11:36am
Set ups and Timing,,,,
Two important aspects of Entries in your trading system. When you have a good setup it will stick out like a sore thumb.. Like you just hit it with a hammer...or shut the car door on it... That's how obvious a good setup is...

And you will see it begin to form.. they just don't magically pop out of thin air they develop and they form within a framework...

Amateurs often use the word hindsight...Why ?
Because they truly don't understand what a real bona fide good trading setup is. They think a chart that's not posted realtime is hindsight... Because they don't understand plain and simple.

Because when you have a bona fide good setup you execute as long as that set up is within your timing.

Imagine if you had one good setup or a couple good setups.. and you have a window for them to form a window of timing.. you see your setup form in that timing you get your trigger whatever that may be and you execute.

You do this every day you show up within a certain time period you look for a certain setup or setups.. you either find them and execute or you don't and you do nothing..
There's always another bus to come along always another trade always another day... ..
It reminds me of an old carnival game called Whack-A-Mole... LoL...

You truly can make a good living off of one good setup..
Most of my trades come off of two basic setups.. and within those two basic setups are a few variations for entries and exits. ..

One of the things that I really like about Stacey Burke... Is his relentless hammering of the importance of setups and timing... Once you figure that out you will see much more clarity in your charts.

With all that said.... Oil,,,Oil,,,,Oil,,,

930-1030 NYT... 1 hour box
50% line of said 1 hour box.
How many trades can one have taken in the last 30 days alone off that 50% level???

Once bias is confirmed by a preceeding close of a 5m bar outside the initial 1 hour box.. then a retracement to the 50% level for your entry ..

I know I can say exactly how many... Today was just another day...another one.... another picture perfect Sore thumb setup....

Entries off the 50% level today,,, one for 46 pips and a runner for 90 pips.. Scale that how you would like..

And thats only oil....My top 3 are Oil, SPX, GOLD..
If it peaks your interest... Pull up oil... 5m chart..
Plot it ..figure it out..

Cheers
Blue
Master your Mind,,,Master the Market
  • #7,993
  • May 3, 2023 12:27pm May 3, 2023 12:27pm
Quoting bluesteele
Set ups and Timing,,,, Two important aspects of Entries in your trading system. When you have a good setup it will stick out like a sore thumb.. Like you just hit it with a hammer...or shut the car door on it... That's how obvious a good setup is... And you will see it begin to form.. they just don't magically pop out of thin air they develop and they form within a framework... Amateurs often use the word hindsight...Why ? Because they truly don't understand what a real bona fide good trading setup is. They think a chart that's not posted realtime...
Top notch post.

You used the word - framework.
Mark ... Everything you have been told is a LIE
  • #7,994
  • May 3, 2023 1:06pm May 3, 2023 1:06pm
Quoting Steverino832
{quote} my grandfather never kept any money in the bank, he lived through the great depression. he did not trust banks and also did not use credit always paid in cash only. .
Interesting you mention Credit Cards. I grew up in the UK before Credit cards were invented. Prices were lower because you had to pay cash or get a small loan or go without. Mortgages were based on salary when the differential in those days was very narrow , unlike todays differential which the young have to contend with. Seems the invention of the Credit card enabled more debt, more consumption and higher prices for most things. Remember when house prices depended on local salaries? Along came second home ownership. Rant over
every Saint has a past. Every Sinner has a Future
  • #7,995
  • May 3, 2023 1:22pm May 3, 2023 1:22pm
Quoting bluesteele
Set ups and Timing,,,, Two important aspects of Entries in your trading system. When you have a good setup it will stick out like a sore thumb.. Like you just hit it with a hammer...or shut the car door on it... That's how obvious a good setup is... And you will see it begin to form.. they just don't magically pop out of thin air they develop and they form within a framework... Amateurs often use the word hindsight...Why ? Because they truly don't understand what a real bona fide good trading setup is. They think a chart that's not posted realtime...

Anyone notice Oil again... 1 min rejects 50% level.( To the exact pip) ..coughs up a quick 50 pips....
Master your Mind,,,Master the Market
  • #7,996
  • May 3, 2023 4:19pm May 3, 2023 4:19pm
Quoting bluesteele
Set ups and Timing,,,, Two important aspects of Entries in your trading system. When you have a good setup it will stick out like a sore thumb.. Like you just hit it with a hammer...or shut the car door on it... That's how obvious a good setup is... And you will see it begin to form.. they just don't magically pop out of thin air they develop and they form within a framework... Amateurs often use the word hindsight...Why ? Because they truly don't understand what a real bona fide good trading setup is. They think a chart that's not posted realtime...
09:30 to 10:30 EST is a great time to trade, there are numerous successful traders that use this hourly box to rake in the cash daily. One side of the box has an 85 to 90% chance of being the low or the high of the NY session. Works best on Nasdaq and S&P.
MY GRID. Markets are NOT random.
  • #7,997
  • May 3, 2023 5:04pm May 3, 2023 5:04pm
Quoting tonyb123
{quote} 09:30 to 10:30 EST is a great time to trade, there are numerous successful traders that use this hourly box to rake in the cash daily. One side of the box has an 85 to 90% chance of being the low or the high of the NY session. Works best on Nasdaq and S&P.
Bang on Tony !!! Exactly !!! ...
As well very effective on oil US30 and gold...with other "framework" (my new favorite word from SPZD )

Currencies can also be traded within this framework with lesser probabilities... Again just utilizing many of the things talked about in this thread...

Cheers
Master your Mind,,,Master the Market
  • #7,998
  • May 3, 2023 6:27pm May 3, 2023 6:27pm
GJ business (without any monkeys ) back to normal I see this morning.

It was a terrific day yesterday though very short for myself.
I took a first trade in Asia lasted 58mins, then two quick ones after the London Fake'N'Flip hahaa, to net double my days requirement while lasting just 9 mins.

And this morning in a review last chart below I see all has returned to reasonably normal,
triangles & symmetry, round numbers, opens and today price starting underneath the week PP we shall see from here where they go.


Yesterdays Fibo Chart from the new Gov BoJ speech last Friday landed at 61.8%, todays Fibo Chart shows they got price back to the 50% yesterday
(nothing really random in our markets in my book , but hey each to their own)

.
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: GBPJPYM15 symmetry.png Size: 13 KB
  • #7,999
  • May 3, 2023 6:30pm May 3, 2023 6:30pm
Quoting Inthebox
{quote}
gj walking slowly behind. {image}

Hi ITB,
some very nice GJ trading charts in your posts, I am enjoying them thank you.
  • #8,000
  • May 3, 2023 6:38pm May 3, 2023 6:38pm
And any wonder (just j/king) that the Yen is in some bother. Those Bankers are on yet another holiday all day today in Japan again

It is what it is
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