In fact, I actually believe that people do work in parallel on some concepts but they never talk about it and therefore, no one ever knows! That's why I am so interested in knowing whether or not the same holds true for my work. So, if you come across anything that you think is either just like B2i or that approximates B2i in concept, please do let me know for posterity sake. That is something I really do care about. Since I did not see a link in your post, I will have to interpret that as your not having a source for comparison purposes.
DislikedI am a trend following trader and I do not trade on small(est) time frame. I trade on Daily time frame with no indicator (at all). What I do is... as long as the trend is up, then I'll keep buying with predefined stop (SL) until the price reversed and do the same thing when the trend is down...Ignored
So, yes. Indeed, the trend is your friend - as long as it remains in Market Phase 1 or 5 (read early in this thread for explanation). Market Phases 2, 3 and 4, including the inverse of Market Phases of 2 and 4, is statistically where the market spends more than 70% - 80% of its time (currency markets undergoing normative market behavior). Therefore, as a Trader, one is serious about optimizing their profit potential, one has to become familiar with all Market Phases and learn how to adapt their trading to match the current phase. There really is no other way to optimizing profits. Otherwise, you are either sitting on the sidelines waiting for Market Phases 1 and 5 to arrive, or you are getting whipsawed and suffering increasing losses as the market transforms between Phases 2 through 3 and their associated inverse phases.
This should be fundamental knowledge for all Traders to have - basic Market Phase understanding is essentially to any consistent trade plan.
Trading should be simple. But, not before it gets a whole lot more complex (as your learning curve increases), then understood, then refined and optimized into something that is relatively simplistic. Pushing your trading to a point of maximum optimization while being simple, has never been easy. If it were, everybody and their grandmother would be a successful Trader. And, while everybody and their grandmother is a Trader, not everybody and their grandmother is a consistently successful one.
Trading can become simple, but it takes a lot of diligent work to make it so. Competitive (Pit) Floor Trading is quite different from stand-alone day trading environments and for a number of good reasons. There are no Competitive (Pit) Floor Traders in Retail Forex, or on Interbank. Those decisions are made via algorithms and/or individual Trader input while sitting at a trading platform of one kind or another. Increasingly, trading firms with dedicated Trading Units that are non-competitive (non-pit environment), are trading alongside individuals sitting behind a computers such as you and me. The trading environments have changed over the years and things are not what they used to be. When you read a book on trading, it is important to understand the era in which the author is writing about when they give such examples.
I would strongly suggest this movie:
Floored | A Look Inside the Chicago Merc and How Trading has Evolved
Inserted Video
This is a pretty educational movie and it takes you right up to the New Era of Trading, the Individual Day Trading Era - a new day in my eyes.
DislikedSometimes I wonder if old Dr. Joe was smoking something but then when I see those long legged neutral dojis before a significant move, I know he was right.Ignored
This is a different era.
F-X-C-M | A Classic Retail Bucket Shop Scam Artist Who Manipulates Prices