Gentlemen, lend me your ears...
I have been trading forex now for longer than i can care to remember. For a long time i have lived and breathed the markets. There's nothing more entertaining then watching price movement live on your screen. If i have a choice between euro/chf (arguably the worlds most boring instrument to trade) and a world cup final, i would choose my charts. Trading forex is my only vice, and i love it.
If you watch the charts for as long as i have, sure enough you will start to notice certain things about the way price moves. Some of the things you notice involve a few candles, may be just 2 or 3. Some of the things you notice involve hundreds of candles. You notice these chart patterns repeat again and again. Some times the outcome of these movements is no different to the coin toss. Sometimes the outcome can be predicted with 'high probability'.
Well what i will be discussing here is non of the above.
What i will be discussing are chart patterns that work each time, every time, with 100% deadly accuracy.
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Many trading texts are devoted to the theme of what makes a successful trader, their qualities, attributes and anecdotal evidence linking a 3 mile run before breakfast to an 8% increase in equity before lunch. I’ve always been more interested in what makes a successful trade, its qualities and attributes.
The game is called investing. Its not a game dependent on the roll off die. It’s a strategy game which requires thought. It’s the quality of the judgement that we pass that determines the outcome.
Just like footballers and boxers have rituals they perform before stepping out on to the pitch or in to the ring; buyers and sellers have rituals which they perform before stepping in to the abyss.
Like the drama of a wrestling match, chests are raised, chairs are thrown and ears bitten.
Sometimes it KO from the word go and other times its trench warfare.
Price action is a construct of buyer and seller behavior.
So when analysing the charts, look for those rituals. Trying to decipher them, give them meaning.
Some times those rituals evolve, like adding or removing a few steps from a dance, but their significance remains.
The one who gives meaning to it gains more from then the casual observer.
Every movement means something, even if its just a single candle.
You won’t trade every candle, but you should always have an idea of what it means.
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Rough Guide to the Deadly Thread:
1. How to look at a chart.
2. How price moves (part 1 - v/d/s - c/r).
3. How price moves (part 2 - b/s/r).
4. Spotting the setup - untested s/r.
5. Entry and exit.
6. Secondary support, trend lines and channels.
7. Reversal patterns.
8. The importance of thinking.
9. Sam (Simple Accuracy Method or Deadly's Lil Sister)
Don't worry, the following posts will have more pictures then words so we shall get to the point very quickly.
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If the pics don't make sense we got vids for generation-Z:
how price moves 101 post #1299
how price moves 102 post #1300
trendy lines post #1301
line hold n break post #1302
theory to action post #1303
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Loads and loads of trade examples... eventually the penny drops
----
If you want to share notes my Skype id is wmd4xx .
My email address is [email protected]
Follow me on Twitter www.twitter.com/wmd4x
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All the important info from this thread, pattern scrap book, details of my trading room and more all in one place:
www.wmd4x.com
-----
We interrupt this post for a short commercial break...
There is no secret to it or magic. There is no Midas touch.
Its just about knowing what to look for and how to maximize the opportunities that present themselves.
Since starting the Wmd4x project I have produced over 50 hours of videos detailing the practical application of this timeless method & delivered 100's of hours of analysis in our AM briefs.
Sign up here, its FREE to register: http://www.wmd4x.com/
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I have been trading forex now for longer than i can care to remember. For a long time i have lived and breathed the markets. There's nothing more entertaining then watching price movement live on your screen. If i have a choice between euro/chf (arguably the worlds most boring instrument to trade) and a world cup final, i would choose my charts. Trading forex is my only vice, and i love it.
If you watch the charts for as long as i have, sure enough you will start to notice certain things about the way price moves. Some of the things you notice involve a few candles, may be just 2 or 3. Some of the things you notice involve hundreds of candles. You notice these chart patterns repeat again and again. Some times the outcome of these movements is no different to the coin toss. Sometimes the outcome can be predicted with 'high probability'.
Well what i will be discussing here is non of the above.
What i will be discussing are chart patterns that work each time, every time, with 100% deadly accuracy.
----
Many trading texts are devoted to the theme of what makes a successful trader, their qualities, attributes and anecdotal evidence linking a 3 mile run before breakfast to an 8% increase in equity before lunch. I’ve always been more interested in what makes a successful trade, its qualities and attributes.
The game is called investing. Its not a game dependent on the roll off die. It’s a strategy game which requires thought. It’s the quality of the judgement that we pass that determines the outcome.
Just like footballers and boxers have rituals they perform before stepping out on to the pitch or in to the ring; buyers and sellers have rituals which they perform before stepping in to the abyss.
Like the drama of a wrestling match, chests are raised, chairs are thrown and ears bitten.
Sometimes it KO from the word go and other times its trench warfare.
Price action is a construct of buyer and seller behavior.
So when analysing the charts, look for those rituals. Trying to decipher them, give them meaning.
Some times those rituals evolve, like adding or removing a few steps from a dance, but their significance remains.
The one who gives meaning to it gains more from then the casual observer.
Every movement means something, even if its just a single candle.
You won’t trade every candle, but you should always have an idea of what it means.
----
Rough Guide to the Deadly Thread:
1. How to look at a chart.
2. How price moves (part 1 - v/d/s - c/r).
3. How price moves (part 2 - b/s/r).
4. Spotting the setup - untested s/r.
5. Entry and exit.
6. Secondary support, trend lines and channels.
7. Reversal patterns.
8. The importance of thinking.
9. Sam (Simple Accuracy Method or Deadly's Lil Sister)
Don't worry, the following posts will have more pictures then words so we shall get to the point very quickly.
----
If the pics don't make sense we got vids for generation-Z:
how price moves 101 post #1299
how price moves 102 post #1300
trendy lines post #1301
line hold n break post #1302
theory to action post #1303
----
Loads and loads of trade examples... eventually the penny drops
----
If you want to share notes my Skype id is wmd4xx .
My email address is [email protected]
Follow me on Twitter www.twitter.com/wmd4x
----
All the important info from this thread, pattern scrap book, details of my trading room and more all in one place:
www.wmd4x.com
-----
We interrupt this post for a short commercial break...
There is no secret to it or magic. There is no Midas touch.
Its just about knowing what to look for and how to maximize the opportunities that present themselves.
Since starting the Wmd4x project I have produced over 50 hours of videos detailing the practical application of this timeless method & delivered 100's of hours of analysis in our AM briefs.
Sign up here, its FREE to register: http://www.wmd4x.com/
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.......I look forward to your posts and will keep dropping in as time permits....