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Intraday swing trading

Quoting Bobbynouchet
{quote} The only logical reason for you to hate TA is because you are not good at it, sorry to say. As far as your GBPUSD pair goes, I would as of right now take a long trade on the currency pair. My stop loss would be 105 pips while my profit target would be 219 pips. Cheers
Hi Bobbynouchet,.... Or TA assumptions are faulty, misleading and dangerous.

GU price at 1.22301 right now.

Thumbs up for the live market call.

Btw, no one is forced to make live market calls on here. It's up to you. Cheers
Trade the value
Quoting BWilliam
{quote} Hi Bobbynouchet, I understand you. Neither am I giving away my hard work. No one is expected to reveal their hard work. Can we try our best to talk about TA without being forced to reveal our hard work? I'm sure we can. Cheers
My trade addiction kicked in and I had to take the trade lmaooooo, I did use extreme risk management and only traded a micro lot , so at least I am a responsible addict , like my TA said, 105 pips SL , and 219 pips profit target. Cheers!
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Quoting Bobbynouchet
{quote} The only logical reason for you to hate TA is because you are not good at it, sorry to say. As far as your GBPUSD pair goes, I would as of right now take a long trade on the currency pair. My stop loss would be 105 pips while my profit target would be 219 pips. Cheers
Hi Bobbynouchet

I have been a TA trader for 35 years.

I trade my own 7 figure super account for my family where I trade mainly stocks. Currently up a shit load in profit on one stock called CBA.AX.
I trade a decent size Futures account using TA and volume data that is up 250% in equity since the beginning of the year. These results I have shown to my buddies in a professional trading room known as the cave.
I trade a reasonable amount in my Currency account where I am trading bank levels as we speak. Up 12% this month.

I am a TA trader BUT

Most traders fail when they trade with TA, it’s a losing method for most traders.

This is why I say FUCK TA - because even thought a small percentage of traders are very profitable using TA like myself - it hurts me to see so many losing with TA

Therefore I am trying to save new traders from losing so much money, advising them that TA is not the answer BUT smart money management is the real winner.

FUCk TA - I hope new traders stop hunting for a new TA system and start asking how to trade with smart money management skills instead.
Trading thin liquidity at the boundary of the charts
Quoting GEfx
This week, I've been trading the G$, $J, $CAD, and the EA. Attached is the EA which has behaved really well, within structure. Trade target to target, once intent is clear. Stay in your trades all the way to the target (that's why it's called a target). {image}
I am looking at the EA reversal (of today's PA), waiting for things to develop a bit more. Next targets are 1.6018 and then back to 1.5858. Needs to cook a little more. Trade well everyone!
Quoting RickM
{quote} Hi Bobbynouchet I have been a TA trader for 35 years. I trade my own 7 figure super account for my family where I trade mainly stocks. Currently up $125,000 in profit on one stock called CBA.AX. I trade a decent size Futures account using TA and volume data that is up 250% in equity since the beginning of the year. These results I have shown to my buddies in a professional trading room known as the cave. I trade a 6 figure Currency account where I am trading bank levels as we speak. Up 12% this month. I am a TA trader BUT Most traders fail...
Im assuming you are one of those traders that beleive the best traders are determined by the amount of money they make, based on you telling me you are 125 grand up. I do TA and trading as a whole very differently from you and everyone else. I spent 5-7 years locked in my room building a customized homegrown trading algorithm, fast forward to today I am a full time prop trader. Like I said I do things VERY differently, I am probably not compatible with 99.9% of the traders on this forum lmaoooooo
Quoting Bobbynouchet
{quote} Im assuming you are one of those traders that beleive the best traders are determined by the amount of money they make, based on you telling me you are 125 grand up. I do TA and trading as a whole very differently from you and everyone else. I spent 5-7 years locked in my room building a customized homegrown trading algorithm, fast forward to today I am a full time prop trader. Like I said I do things VERY differently, I am probably not compatible with 99.9% of the traders on this forum lmaoooooo
Hi Bobbynouchet, therefore you don't BLINDLY and STUPIDLY accept TA faulty assumptions like most 99.99% FF members do. Cheers
Trade the value
  • Post #247
  • Quote
  • Edited 12:52am Mar 22, 2023 12:42am | Edited 12:52am
Quoting Bobbynouchet
{quote} Im assuming you are one of those traders that beleive the best traders are determined by the amount of money they make...
Hi Bobbynouchet, I believe the best traders

1. trade with logical, creative assumptions and innovative ideas that are properly quantified. Their real trades must show they're in line with what they preach.
2. They show clear risk trade management by how they manage their stop loss(most important aspect), and
3. They show their strong belief of their strategy/method in their money management.

Absolute money value is not a measure of the traders ability.

Edit - Soros gain international fame and respect for his huge stomach for risk.

Cheers
Trade the value
Quoting Bobbynouchet
{quote} Im assuming you are one of those traders that beleive the best traders are determined by the amount of money they make, based on you telling me you are 125 grand up. I do TA and trading as a whole very differently from you and everyone else. I spent 5-7 years locked in my room building a customized homegrown trading algorithm, fast forward to today I am a full time prop trader. Like I said I do things VERY differently, I am probably not compatible with 99.9% of the traders on this forum lmaoooooo
No

I go by percentage increase in equity every year as my guide but only really worry about my draw down percentage in real time.

Now what really excites me is my trading using volume data in my Futures Account.
I am getting some astonishing results there, hopefully it continues.

Please note that previous post will be deleted in a few hours
Trading thin liquidity at the boundary of the charts
Quoting RickM
{quote} No I go by percentage increase in equity every year as my guide but only really worry about my draw down percentage in real time. Now what really excites me is my trading using volume data in my Futures Account. I am getting some astonishing results there, hopefully it continues. Please note that previous post will be deleted in a few hours
Hi Rick, pls don't delete your posts. It will cause a discontinuity to our conversation. Thank you. Cheers
Trade the value
Quoting RickM
{quote} No I go by percentage increase in equity every year as my guide but only really worry about my draw down percentage in real time. Now what really excites me is my trading using volume data in my Futures Account. I am getting some astonishing results there, hopefully it continues. Please note that previous post will be deleted in a few hours
Hi Rick, I have written everything I wanted to say on this thread. Nothing more to add, take it or leave it. I opened this thread for this purpose. This is all the time I'm prepared to put in FF. It took a lot of time and effort even for these few days. We both know the same shit will continue on FF. Will step back from posting from now. If there's nothing more from FF members, I send this thread to the bin. Cheers
Trade the value
Quoting RickM
{quote} Hi Bobbynouchet I have been a TA trader for 35 years. I trade my own 7 figure super account for my family where I trade mainly stocks. Currently up a shit load in profit on one stock called CBA.AX. I trade a decent size Futures account using TA and volume data that is up 250% in equity since the beginning of the year. These results I have shown to my buddies in a professional trading room known as the cave. I trade a reasonable amount in my Currency account where I am trading bank levels as we speak. Up 12% this month. I am a TA trader BUT...
Hi Rick,
Leave this in place as a motivational tool for new traders that are trying to find their place in the markets. I find it as good encouragement from someone who is practicing what he is preaching. Spot on my friend.
Quoting BWilliam
{quote} Fail again as expected. Another attempt which look weaker. Tomorrow is crucial, h4 intent is still poised bullish. Huge move is required to succeed. Cheers.
Post made after New York close before Asia open. All known ahead of time. Cheers
Trade the value
Wow, this thread have all the good thing like the pros and cons and lotsa veteran traders here too. I like controversial issues/ideas coz with them, people will usually give their best to defend or destroy others using their best argument. This is where smart people will benefit because they can learn more and faster due to the influx of knowledge laid out.

I wanted to give likes to many of the posts but since I'm still a junior member, such thing is clearly prohibited for me. Definitely subscribing to this thread.
If you want to make a lot of money, go to where money is in abundance.
Tiny practice account #2 All Time Return: 133.5%
Quoting BWilliam
{quote} Hi Rick, I have written everything I wanted to say on this thread. Nothing more to add, take it or leave it. I opened this thread for this purpose. This is all the time I'm prepared to put in FF. It took a lot of time and effort even for these few days. We both know the same shit will continue on FF. Will step back from posting from now. If there's nothing more from FF members, I send this thread to the bin. Cheers

Hi BW, its pipcatcher here once again,

Thank you for your commitment to responsible posting, i can see and applaud the effort you put into this,

per my understanding so far there are few users of Traditional TA that know what they are doing , versus the large group finding what works whiles risking real money(the dangerous aspect why you sound the "TA is faulty Alarm") on their way to fully have some reliably solid TA rules or some kind of trading tools to measure metrics on the chart that gives an edge.

"Statistically researched quant approach" as you call your method of analyses is very interesting, You have sounded the caution alarms.

In a market where the broker(ie where most lose money to LPs) or free youtube videos offers the trader the general TA education, how can one tell a tool doesn't work aside losing money and wasting time (experience)

as with everything i believe growth is in phases but getting in contact with useful tools regarding which ever field you are researching speeds up the learning curve.
(NB; in this our business no body willingly shares a goose laying golden eggs, hence one will have to navigate a lot of rubbish before arriving at something that works, sadly most is embodied with TA)

The early realisation will be for a trader to look how much he lost month after month to conclude if his tools for measuring metrics on his chart is competent enough or inadequate.

I have a final question (kindly refer to your image uploaded below)
regarding your tools you use , you left out what metrics one tool measures so i draw your attention if you will mention its purpose like you mentioned for the other ones

cheers and thanks for the alarms in a more responsible manner this time

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Zigzag
Quoting Ihlas
Zigzag
looks like TMA with price at bands extremes to me
Quoting pipcatcher2
{quote} looks like TMA with price at bands extremes to me
ZigZag imho, red and green circles have orders. Red green red green

Look at the ECAD hovering around extreme
IDK about indicators
Quoting RickM
{quote} Hi Bobbynouchet I have been a TA trader for 35 years. I trade my own 7 figure super account for my family where I trade mainly stocks. Currently up a shit load in profit on one stock called CBA.AX. I trade a decent size Futures account using TA and volume data that is up 250% in equity since the beginning of the year. These results I have shown to my buddies in a professional trading room known as the cave. I trade a reasonable amount in my Currency account where I am trading bank levels as we speak. Up 12% this month. I am a TA trader BUT...
You have been trading more than my age. Why was the World Bank was established?

What is the purpose?
Quoting Ihlas
{quote} You have been trading more than my age. Why was the World Bank was established? What is the purpose?
Mate, you should be asking Peter Caleb because I am sure you will recieve a 1950 word post about the merritts of that organsation.

I started trading on a Wet Tuesday Morning otherwised called Black Tuesday 1987. To the rest of the world it was Black Monday but due to time zones, it was a Tuesday morning in Wellington New Zealand. I had just watch my brother lose $100,000 on his Share portfolio and he was yelling at his broker (no online brokers then) to get his positions closed. Everybody then was borrowing money of their banks to get into the share market that year because the market was just raining money, it ended however with a crash. He never traded Stocks for years later but I saw it as an opportuntiy to get some cheap shares and so that was the day I started my trading journey as a late teenager without a fuckin clue how I was going to do it.

WHAT'S FUCKIN TA?

BOY DID I LEARN THE HARD WAY
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Trading thin liquidity at the boundary of the charts
Quoting RickM
{quote} Mate, you should be asking Peter Caleb because I am sure you will recieve a 1950 word post about the merritts of that organsation. I started trading on a Wet Tuesday Morning otherwised called Black Tuesday 1987. To the rest of the world it was Black Monday but due to time zones, it was a Tuesday morning in Wellington New Zealand. I had just watch my brother lose $100,000 on his Share portfolio and he was yelling at his broker (no online brokers then) to get his positions closed. Everybody then was borrowing money of their banks to get into...
Great, thanks for sharing your story.What will you do once you can't get that volume thing or stops to generate profit? So real life is thing as Peter Caleb says.What I'm doing also imbalance, but some connection with real life.Good luck!
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