DislikedHi all, I would appreciate if we discuss this line...( from FTI 10 yr back) "So we use daily trend as the direction to build book size and short charts to make market for retrace" FTI is saying this as market maker. My take on this from retail and trading perspective is.... Find the trend from daily. Send scout for market feel deploy remaining scout near exhaustion. Rest is attack and rescue mo grateful if other members discuss. regards antIgnored
Fti post 59
DislikedYOU MUST GET THE CONCEPT OF MARKET STRUCTURE RIGHT TO UNDERSTAND THE CHARTS.
unfortunately it seems like it went over peoples heads at the beginning of the thread so not many deep questions went on. Only a few gems here and there in the thread
DislikedSo for the dealer, as long as he maintains his poise in the direction of the markets major trend,
here is euro daily showing this intermediate move down with red line. Is the market maker maintaining his poise short even through the minor movements (marked in blue) that are moving up?
what about this new minor high circled in black ... indicating possible development of a new intermediate movement up (need a higher low before that is suspect) does the market maker turn his book here? or does he still keep his direction short with MAJOR trend?
as far as Using Daily charts here are some Fti quotes...
DislikedYes I use Daily Chart studies to indicate trend,
I use short charts to indicate form.
post143 - to Green_David
Disliked3. Did you check the daily chart, to ask it what kind of zone you were trading into?
Dislikeddo you look for evidence of probabilities in the daily chart?
I my interpretation is to use the daily to indicate what zones we are trading in to ...ie big buying/ selling zones (check phil13 journal). This tells us the possibilities so we dont end up stepping into a minefield when trading.
please correct me if Im wrong. Also, can you elaborate on "So we use daily trend as the direction to build book size and short charts to make market for retrace"
Is it used to find buyers /sellers when the move runs out of steam? Ie enticing people to take positions? also used to balance book if necessary?