Menu

Options

Bookmark Thread

First Page First Unread Last Page Last Post

Print Thread

Similar Threads

Build an Equity Millipede with the filtered Flying Buddha 172 replies

Equity millipede & Flying Buddha trading journal 9 replies

Flying buddah pattern 20 replies

Flying buddha pattern 12 replies

16/10/'07 - Crude oil and Greenback flying in opposite directions. 0 replies

Attachments: Flying Dutchman
Exit Attachments

Flying Dutchman

Quoting Shabs19
{quote} The different market sessions of course all work together to take the market in one direction, faking for a move higher, when GBP sentiment was always going to be down on poor GDP yesterday. When NY opens with Higher than expected Retail Sales, we get the avalanche sell off. But then again Market Structure would have told you that, as price was breaking PDH (Fakey) but not sufficient momentum to break the Week HIgh. Franky Open tipping the balance and taking it below PDO and into the NY Open, for a brief respite only.

Spot on Shabs.

While the market has to (imo) move against its preferred direction at some point initially else who is trapped and remains the liquidity (until they S/L) for the real directional players to profit.

The Fake'N'Flips and Bermuda Triangles (my narratives lol, sorry) provide that scenario for entrapment.

ie, if price is going to go down then it may well (must?) go up first.
Quoting TimeTells
{quote} Spot on Shabs. While the market has to (imo) move against its preferred direction at some point initially else who is trapped and remains the liquidity (until they S/L) for the real directional players to profit. The Fake'N'Flips and Bermuda Triangles (my narratives lol, sorry) provide that scenario for entrapment. ie, if price is going to go down then it may well (must?) go up first.
Great thread.

Staying out when these setups are NOT present (Fakes/Flips/Pumps/Dumps/Sweeps - so many names) is the way to grow an account (or draw a wage). The most common cause for me taking a loss is trying to trade the market when it isn't 'well-engineered' or before the 'engineering' has been completed.
Okay, in & out quickly with a week open startup chart
(will try & stay away for a week now lol and just trade )


Some soft Yen news (machinery orders) in ½ an hour, which I dismiss as the base numbers but WATCH for market/trader reactions.

WHILE
later in the day, and at a tentative timing () the Gov of the BoJ Mr U will speak


All I say is trade safe & trade well as always folks


.
Attached Image (click to enlarge)
Click to Enlarge Name: GBPJPYM15 Nov18 week begins.png Size: 12 KB
Okay we have some time offerings for Mr U speech and follow up media conference (ie RED news lol)

Obtained on the Factory

https://www.forexfactory.com/news/13...-bears-wary-of

""Yen bears were tense in case Bank of Japan Governor Kazuo Ueda used a speech later Monday to flag a possible rate hike in December, in part due to the weakness of the currency. Ueda will deliver a speech at 0100 GMT, followed by a media conference at 0445-0515 GMT. It will be his first opportunity to speak directly on monetary policy since Donald Trump's victory""


Means the speech is in the timeframe now of maybe ½ an hour from now (plus - they like to get their own bets on first - I'm just JOKING Mr U, honest)

https://www.worldtimebuddy.com/
Another week is done & dusted (so another review chart hahaa ) with some full markets mechanics on display once more.

Bottom to top and then back again with a couple of variances in between. Seems its all business as usual.


I’ve settled down trading from a 5min chart. With a side by side 1hr split screen also to get the fuller picture
(and I may go down to 1min every so often to finesse around)

BUT each to their own always, no one way that is best imo.

A set of three MA’s one short, one medium, one long should put you in direction
once the SWITCHOVER has taken place,

then it can be just down to Price (often around a Trader Attractor for me, or a confluence of them, as a few different types of traders may then show interest there)
and then Time (session, or new session momentum)

while …
It is all still a battle of sorts (mainly though you vs you imho)
while I assess who might be favoured NOW by any stalled market aggregations

Maybe don’t sit too long staring at a screen, stand up and do some half squats, use some light weights maybe with shoulder rotations, keep the blood moving and your brain & eye not focused on just one thing for long periods of time. Find what works best for You.

and then
Trade em safe, trade em well and all the best folks


.
Attached Image (click to enlarge)
Click to Enlarge Name: GBPJPYM15 rarely a surprise really.png Size: 17 KB
Quoting TimeTells
Another week is done & dusted (so another review chart hahaa ) with some full markets mechanics on display once more. Bottom to top and then back again with a couple of variances in between. Seems its all business as usual. I’ve settled down trading from a 5min chart. With a side by side 1hr split screen also to get the fuller picture (and I may go down to 1min every so often to finesse around) BUT each to their own always, no one way that is best imo. A set of three MA’s one short, one medium, one long should...
Hi TT, hope you are well. I'm finding the forex to be pretty lame again these days. Weekly moves free up the waiiting time to do other things such as [insert whatever tickles your fancy]. No endorsement, wait...
*** "NON ENDORSEMENT ALERT" ***
You may enjoy this video.
https://languageofmarkets.com/how-to...e-with-change/
Cheers...
Quoting FocusWinReal
{quote} Hi TT, hope you are well. I'm finding the forex to be pretty lame again these days. Weekly moves free up the waiiting time to do other things such as [insert whatever tickles your fancy]. No endorsement, wait... *** "NON ENDORSEMENT ALERT" *** You may enjoy this video. https://languageofmarkets.com/how-to...e-with-change/ Cheers...


Hi FWR

Yes going well mate, cheers, and wishing you the same .

All the vids are good imo especially when they challenge us to view & think what is (and what might be) happening now in front of our eyes (and indis, hahaa).

I did all my studies on a past history Simulator for hours & hours trying to get “some” message lol of what was going on and then actually deleted random from my vocabulary. As I think (believe, now) the apparent randomness is merely market makers & LPs (big players) aggregating around all the trades currently in the pool and seeking to rebalance buys & sells BEFORE the market then moves on (to a further away destination).

The key to my thinking is that the market ultimately is heading somewhere, yes. AND that somewhere is an actual destination where new traders again may come in with liquidity and old traders may release or relinquish existing trades (and liquidity). I call those spots trader attractors, ie Hi’s Lo’s of past days, weeks, major pivs, round numbers etc etc.

I have no actual knowledge that my beliefs are actually the case (as I know no-one in the industry, nor want to lol) but that’s what I trade to.
Those targets/attractor levels pop up day after day (after day) so I have no reason really at present to change my perspective on them but just continue with what the mechanics has shown in the past. While trading it all as safe as I can as no one knows when an earthquake - not literal lol - can shake the very foundations of forex (world events etc yes).

Thus I prefer to be out of the market more often than in the market (if you know what I mean) and trade accordingly. Which is merely a mindset I brought to trading from elsewhere prior, and is NOT the only (or even best) way to trade. But which suits my personality profile best is all.


Here’s a snapshot of yesterdays US500 that I quickly looked at in regards to your vid.
It all looks pretty much the same market mechanics to me (but NOT the exact repetitive & consistent price moves itself, but the overall mechanics I mean)

All the best pal, and it's now the end of the trading month next week.


.
Attached Image (click to enlarge)
Click to Enlarge Name: US500M15 market is likely going to a somewhere.png Size: 13 KB
Quoting TimeTells
. A set of three MA’s one short, one medium, one long should put you in direction once the SWITCHOVER has taken place...
I like your description and would add that, the specific type of MA and duration don't matter, they need to be useful to the individual trader.

Quoting TimeTells
. It is all still a battle of sorts (mainly though you vs you imho)
I think you're talking psychology here! It's probably the biggest hurdle to overcome. If anyone wants to make a living as a retail trader, you must be brutally honest with yourself. It doesn't take long to go from a neophyte with no knowledge to being able to identify a trend, repeating patterns, entries and exits. There are many great trading systems and indicators on this and other forums. What is much harder to overcome (at least it was for me) is battling myself in my trading window. FOMO entries, bad timing, fixation on tiny signals (squinting to see the setup I want rather than waiting for the setup to form), revenge trades (I've heard the term used and think I know what is meant - and think I've done it).

Something that has helped me a lot is being very specific about the setups that I will trade (i.e. give the setup a name and be clear about how that 'looks'), which is what I take away from many of your posts. When I first started doing this I went from around 5 trades a day to 2 trades in a week. Both were profitable and soon I got my first profitable month, still only trading 2-3 times a week. I've gradually added in more setups and trade a few more markets but still nowhere near as many trades as before.
Quoting TimeTells
{quote} Hi FWR Yes going well mate, cheers, and wishing you the same . All the vids are good imo especially when they challenge us to view & think what is (and what might be) happening now in front of our eyes (and indis, hahaa). I did all my studies on a past history Simulator for hours & hours trying to get “some” message lol of what was going on and then actually deleted random from my vocabulary. As I think (believe, now) the apparent randomness is merely market makers & LPs (big players) aggregating around all the trades currently in the...
Cheers TT.

You are consistent in your ability to tell it as you see it and I get all what you say.
All the best.
In keeping with the theme of ... "same shite oops stuff, different day"


USA on hols today. Enjoy your day folks.
AND End Of Month (settling-ups) tomorrow

Trade safe, trade well all


.
Attached Image (click to enlarge)
Click to Enlarge Name: GBPJPYM15 same stuff.png Size: 16 KB
A chart might often save me a thousand words

Trade safe and trade well all


.
Attached Image (click to enlarge)
Click to Enlarge Name: GBPJPYM15 again the same.png Size: 15 KB
Quoting TimeTells
A chart might often save me a thousand words Trade safe and trade well all . {image}
Only a thousand ?

The Only Limit, is the One that you Set Yourself - Felix Baumgartner
Quoting Shabs19
{quote}
Only a thousand ?

In the spirit of frugality then,
from a few less words TO a few less lines hahaa

Still, the market behaves the same as it always does (... imho)



Trade safe, trade well folks


.
Attached Image (click to enlarge)
Click to Enlarge Name: GBPJPYM15 minus the extras.png Size: 14 KB
Back to a very “busy” chart again hahaa, sorry

Experienced traders will look & see what needs to be seen.

New traders, I suggest you cannot or may not see how the market mechanics play out on this a STATIC and extremely BUSY chart which is just a collection of all the trader attractors that I might look for (each to their own).


To see what YOU need to see I suggest loading your templates on a Training Simulator where you can watch the progressive delta of each candle ebb & flow as the market heads to its destination(s) -
in an ‘apparent’ randomness which I suggest is merely aggregations of buys and sells happening awaiting the real market move to follow.

On a Simulator a new trader can follow and hopefully see where all targets AND destinations happen (not just mine) on an intraday and higher timeframe.

https://www.mql5.com/en/code/9220
(mt4 free)


Use your fave template or switch around between the 10,000 thread templates available and ultimately find the one the suits YOU best and which you comprehend best. The market won’t care as it does its own thing repeatedly day after day.

In the end, trade safe and then well and good fortunes to all

(Back to the background again for me lol )

.
Attached Image (click to enlarge)
Click to Enlarge Name: GBPJPYM15 with all the attractors.png Size: 17 KB
[quote=TimeTells;15079858]
(Back to the background again for me lol )


Look, the market can do what it wants now, move up or down I don’t care or get bogged down after a trade with either FOMO or greed.

I would slip back in later pre Franky and see where they have moved price and I always hope that it has been a substantial move and leaves price then near a new set of trader attractors and off we go again, maybe.


Anyways, the market ran the high of yesterday early this morning and completed a NY Bermuda which then (imho) had a high probability for a quick trade after that subsequently. And that’s that for Asia now, for me. Maybe read a book, watch a movie, play with the dog who knows yet.

Definitely in the background again now hahaa sorry

Trade safe, trade well all



quick +20p net
First chart is my (live broker, non trade) setup template chart
Second chart is my live Broker Trading chart (but they see none of my indis templates, pure paranoia nothing else )

.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: GBPJPYM15 bermuda complered early in the day.png Size: 11 KB
Click to Enlarge Name: GBPJPYM5 20p net morning over.png Size: 10 KB
Quoting TimeTells
Quoting TimeTells
(Back to the background again for me lol ) Look, the market can do what it wants now, move up or down I don’t care or get bogged down after a trade with either FOMO or greed. I would slip back in later pre Franky and see where they have moved price and I always hope that it has been a substantial move and leaves price then near a new set of trader attractors and off we go again, maybe. Anyways, the market ran the high of yesterday early this morning and completed a NY
...
Nice one TT!

Took AJ, was late to the charts today.
Attached Image (click to enlarge)
Click to Enlarge Name: AJM5.png Size: 12 KB
Quoting FocusWinReal
{quote}{quote}
Nice one TT! Took AJ, was late to the charts today. {image}

Great work FWR,
Late to the party maybe, but we cannot be glued in on every single moment but when you saw the move was on you profited so very well done.
It’s a minefield out there so we must always trade with care imo.

You also took your ‘lock’ profit before that random (?) spike shortly after so avoided any potential problems by leaving your trades in & running & hoping.

It’s early in the new month and also the last month of the year & with a Yen rate hike discussion in the background also (though the BoJ are always ‘yapping’ so who knows there hahaa) so will tread carefully the next few weeks.


While the market was running (and I was posting lol) I ended up taking 2 more sets of trades in the mix for a nice morning before finally patting the attention seeking doggie hahaa.

I post these trades not to gloat but to try & explain why I take ‘lock’ profits, often early when they are offered. Easy to renter later if we wish.
And with GJ also having that phantom spike later for 57 pips which could have wiped profits that could easily have been booked earlier.

Just the way I do it. I don’t suggest this is the only way to trade and certainly not the ‘best’. But just that its suits me better is all.

All the best FWR


2 more tranches, same direction, RN based entries & exits (but NOT the only targets I look at)
60p in total, finished now maybe for "the day", but I do like to look in at pre-Franky

.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: GBPJPYM5 2nd 20p.png Size: 10 KB
Click to Enlarge Name: GBPJPYM5 3 x 20p morning dog not happy.png Size: 10 KB
Click to Enlarge Name: GBPJPYM15 57p reversal spike.png Size: 8 KB
Quoting TimeTells
Back to a very “busy” chart again hahaa,.......
Mate,

Which PP do you prefer and why? I want to get your view on the different flavors of PPs. Thanks.
Success = Practice + Patience + Persistence
Quoting TimeTells
{quote} Great work FWR, Late to the party maybe, but we cannot be glued in on every single moment but when you saw the move was on you profited so very well done. It’s a minefield out there so we must always trade with care imo. You also took your ‘lock’ profit before that random (?) spike shortly after so avoided any potential problems by leaving your trades in & running & hoping. It’s early in the new month and also the last month of the year & with a Yen rate hike discussion in the background also (though the BoJ are always ‘yapping’ so who knows...
Hello Pete !!!

Love those quarter levels !

Well done !
Master your Mind,,,Master the Market
Quoting fxpider
{quote}
Mate, Which PP do you prefer and why? I want to get your view on the different flavors of PPs. Thanks.

Hi Fxp
I suggesteds to Shabs that my 1000 word essays were a thing of the past lol
(but I am not currently trading again till Franky, maybe, so why not )

----
Mate I might write it this way as a full clarification, but I know that you know what I will be saying, but maybe this is for others, maybe newer, traders also.

So, firstly. I don’t think of Pivot Points as any special tickets. And certainly not the concept of their three Support and Resistance lines that come with the mathematically programmed indis. By that I mean I do not have an ingrained belief that price will necessarily bounce up off a support line or then be ‘held’ from rising further by a resistance line. (maybe 50/50 or 60/40 who knows, I dont keep the figures)

I think of pivots as just another ‘trader attractor’ where some or maybe many traders are themselves TAKING NOTICE around those lines or the approaches to them.

Now this is the important part to me,
and which I cannot verify in any way other than my observations over time (as I know no one connected to the industry - and don’t actually want to lol) …

... is that if large numbers of (let’s say, retail) traders start entering trades at any pivot lines by virtue of a market response expectation then SOMEONE/THING must be taking the equal & opposite side to those trades at the very same time. Thus I reckon this must then mean a Liquidity Influx by definition.

BUT. Where will price go. WITH the expected ‘pivot’ reaction. or AGAINST it.

To me then only time will tell () so I will wait and see. And then ALSO keep a conscious eye out for any potential fakes’n’flips to mess up & shake the tree.


To your question though I just use the most basic and standard Pivots available
(I have no interest, regardless of their potential value such as the woodies, camarillas etc)

My reasoning is that in the old days the standard Pivots were called Floor Pivots (because I am told) that is what the old-time Floor Traders would have as targets of interest lines on their many pieces of paper (before automation).

I have no reason to think that even today that these original Floor Pivots are not widely identified and used by many traders (maybe even institutions, who knows, not me) and on their charts. I just don’t use them for any expected subsequent price behaviour in one direction or the other than using a wait & see approach.

For me it’s all in the waiting for OTHER traders (but not me) to be attracted at these levels & then to see how the larger intraday market responds subsequently.

(Same really with ANY of my target attractors, I have no real pre-expectation of what price will do there other than to observe. Same with non-RED news. Many times I have seen the market take off in the opposite direction to that which the news data outcome of a positive or negative print might suggest).

So all standard Piv Indis should print similar. The only variation could be because they are maths programmed to use this formula
Pivot Point = (High + Low + Close) / 3
So any broker feed individual variation in the high, low or close yesterday would affect where the Pivs are situated on your chart compared to another.

Hope this helps
all the best Fxp
5 traders viewing now