Going for it

Time for a new thread.
The reason being that i just deicided to lay off some of my old habits, friends and responsibilities.
Also this coincides with a long term plan för the next 11 years.
And for that reason there is more energy, time and focus free for me in order to direct.
To direct at trading.
Again.
I will from now on be quite carefull about who i meet, why and how.
Who i speak to, why, how and who might hear or read it later on.
Also what i do, how, when and hwo might perceive what i do.

I have traded for 13 years.
I have reached some working hypothesis in those years.

To trade is to guess at future prices.
To guess at future prices only through price itself is what we could call "price action trading" and thats what i do.
I dont know of a way to do that automatically.
Since price is the result of humans interacting with machines and formulas and so forth its very much a complex "alive" thing.
So the challenge of price action trading is to be that thing and act AS THAT THING.
Doing what it does. Going where it goes.

Thats enough of the backgrund info.
The reason why i told you any of that is that you must recognize youreself in some of it, otherwise there is no point in reading any further.
This is my Eur/Usd MT4 TPL.


Maybe thats the most important file
Its my idea that if you study the lines you can sort of see how/why i placed them.

Im trying to be completely transparent here. No secrets or anything.
But there are lots i CANT say. Because i dont have words for it. Or the words elude me. Or there isnt enough time. Or i dont know how or what you think.
There are limits to what to say to who and when.
Also who will get it how and when and if?

Thats what im looking at right now.
The left chart i try to keep at a higher TF then the other.
So maybe some days i go H4 and M5.
Or like yesterday it was time to have a look at 2016/2017 around new years eve.
As you might understand.
And if you dont understand that, you havent studied the charts enough, in case you are to trade in any manner that i would recognize.

I’m also bullish on EURUSD trading pair; your M1 chart showing the strength of the bullishness! Although, I have different parameters to judge the strength of the market trend!

Price action trading thread, Im on board always ready to learn something new, good luck!

We all do.

Cool.

Larry Pesavento.
Im listening to him.
Nunix mentioned a book he wrote in 1997, but its out of print.
He has a newer one from 2007 i might get instead.
Hes a smart guy anyway.

If you're a price action trader, there's no reason to have to guess, just trade the most favorable probabilistic outcome.

This is the kind of places i study a lot.

Places where price is unhindered to go up/down.
And of course be able to tell when its happening as its happening.
What do i mean by that?
As a new high low is created, price sometimes seem to hover at that area.
As if ther is not that much pushback from the sellers/buyers as normal.
Thats where it often turns the other way in a most definite manner.

One of us may call something "a guess" that for someone else would be called "probabilistic outcome". Did you think of that?
I did. All of the things that are not things we can pick up, those names can get VERY jumbled. We may seem to speak of the same idea, yet speak of different ideas. Or it could seem like we speak of different ideas since we clad it in two different clothes (words), yet its actually the same.
Thats why a mathematical language is perhaps better such as:
Some short time after it hits the blue line, is the 1) calculated, 2) probabilistic, 3) hypothethical, 4) guessed, 5) preconceived time to sell.
Which of those words you use makes no mathematical difference.
What makes the difference is when and if we sell and under which conditions we keep the position.

I agree that who you surround yourself with is so important.

Go for it!

WHAT THE HELL IS GOING ON!?
Anybody lost a comb?

I had a buy in there... COMPLETELY lost interst in that one... Its like everbody went to bed at the same time.

Many and often
There is a GREAT advantage with: Many positions/time
As opposed to: Few positions/time
What im thinking is that if i make 10 trades/day i can sort of see at the end of every day, or at least after a few days how im doing.
But if im making 10 trades/year, it could be years off before i can even say if im doing good or bad.
Thats one of the reasons why i prefer to make many trades a day.
So this reason is statistical.
And NOT technical PA stuff.

Another reason i prefer to have many closed positions a day is my overall mentality.
I dont sleep well with positions open.
I do really want to watch my open positions ALL the time.
There is no technical PA reason for this either.
Its mainly how i as a human are.

I mean if an investor asks: How is it going with my money?
And you answer: I dont know, lets see in 3 years.
Its better to be able to answer: +x last week, +y the week before and -z the week before.

Don´t take it personal
Dont take the market personal. Each price has a certain PERSONALITY, but the price dont know or care what you do.
So if you make a trade and it dont really work out nice, get out. Often if i do that i get 1-2 pip profit anyway. If i am CAREFULL: If i am PRUDENT. If i have PATIENTICE. If i have MODERATION.

This is starting to read like a self help piece...
Anyway...

Thats a nice buy setup.
It doesnt mean its a 100% super win.
But its a nice setup.

Hi Yaed
I can relate to everything so far and yes, how welcome a failed trade is after a long long run of only winners, That ego is pretty much what brokers are betting on
I did once trade this way you are describing but I'm a bit too lazy these days to be "Going for it "
Your thread makes for a good honest read, so thanks for sharing.

TA is not more complicated then that.
Having the guts to pull the trigger on a loss, being moderate and realistic about the profits, those are the tough battles.

I have had my hand in this cookie jar twice today.
It didnt work out all that great.
I have no idea what shot it out of the ball park at about 13:10 on the brokers time.
I try to be carefull about that kind of thing.

What does that tell me?
Sellers have they´r chance right now.
They going for it or not?
If not i guess its time to buy?
But still im edgy about the 13:10 thing...

I trade best in a ranging, sort of undecided market.
I prefer selling.
I hate a strong trend.

I can only vaguely guess why this is so.
I have no explanation to account for this.
Sometimes i would prefer it was otherwise, but a horse is horse and a rock is a rock.
Even though i want the rock to be a horse and reverse.
I am what i am.
I need to accept what and who i am.
Otherwise im stuck in fantasy land.