one from me from today (not much trading this week busy with other Projects)
aka Liquinvest
ReadtheMarket - Supply and Demand with Price Action
Salivan and SC are notable for figuring out (quite ingeniously) that you can simply focus on applying order flow concepts with FL / FTR / engulf, which is a deviation from what RTM focuses on. As our favorite Hendawg liked to point out, RTM focuses initially on LS/tricks + reversals (i dont know how they teach the rest of the concepts in the academy). Which way is easier/better depends on you. LS / QMs are probably easier to understand starting off, FLs end up being more logical and powerful in my opinion (i initially skipped FL studying starting off too, because well, it was hard to understand). There isn't any one way to read the market, we all end up with our own unique styles based on our own unique experiences and what did/did not work for us. At the end of the day, there isn't some holy grail piece of information you're missing. literally everything you need has been talked about in some form or another in this forum. beyond that there are groups floating around with other resources (which as Sali and SC figured out, you may not need if dont mind straying from the typical RTM path).
be willing to pay for someones time (or the academy) if you want them to hold your hand, answer your questions, and put it together for you over and over again until you understand it. otherwise rollup your sleeves and expect to spend waaay more time than you wanted to study and figure it all out. Don't get stuck making the same mistakes, keep pushing and learning. Teach others to clarify your own thinking. It will eventually open itself up and become second nature.
trading is even harder. even if you understand all the concepts, your own mind will keep fucking with you until you blow your account. Work on your psychology just as much as you did learning the concepts. Youtube is your friend. Sounds fun, right =)
Here's my own interpretation from studying IF, SC, Sali (my thanks goes out to them all)
(btw not originally my chart or trade, there are additional annotations)
be willing to pay for someones time (or the academy) if you want them to hold your hand, answer your questions, and put it together for you over and over again until you understand it. otherwise rollup your sleeves and expect to spend waaay more time than you wanted to study and figure it all out. Don't get stuck making the same mistakes, keep pushing and learning. Teach others to clarify your own thinking. It will eventually open itself up and become second nature.
trading is even harder. even if you understand all the concepts, your own mind will keep fucking with you until you blow your account. Work on your psychology just as much as you did learning the concepts. Youtube is your friend. Sounds fun, right =)
Here's my own interpretation from studying IF, SC, Sali (my thanks goes out to them all)
(btw not originally my chart or trade, there are additional annotations)
RIP RTM - long live Nonsense Trading
{quote} hmm i dont know if i would look at it that way. to me the key here to me is that FL at the bottom. If it doesn't break, assume the trend will continue up. If it does break, then that area with all those tricks could be used for a short entry. {image}
They took my stop there
after going through this entire thread, and studying rtm material for around 2 years now, I find myself extremely frustrated. The frustration is due primary to a quote by IF stating, "If the signal is given by the market mover (an engulf into a new zone), then price is very unlikely to break the extreme of the zone it just came from. So, if you have the patience to wait at the last remaining set of unfilled orders in the origin, you can be almost certain that that price will be respected". However, im constantly seeing engulfs that then go onto...
- #6,573
- Edited 4:10am Jul 23, 2020 3:52am | Edited 4:10am
{quote} Still that quote is valid. I too get these setups which doesn't work. When I look to further left. It tallies with a spike, which is a high or low.. Then it is not a valid engulf. The engulf should not tally/confluence with any of the significant structure to the left. If it doesn't land on such significant structure to the left, it is a valid engulf. Check below example. I was scalping GBPJPY yesterday and I was buying. I saw suddenly the following engulf down, and I exited from the buy order. If you carefully look, you will see that (you...
tick chart will make it easier
i would treat your HH as a valid engulf)))
{quote} selfcontrol give the trading secret then, I try it and works so well yesterday action : GU closed with symmetry TG {image} EURAUD closed with RR 1:10 {image} *still have a lot of homework though, bcs when I look back through the history, sometimes it doesn't work anyway, thank you selfcontrol!
Arctic, may I know why did you pick exactly that kink ?
{quote} Arctic, may I know why did you pick exactly that kink ? {image}
You can further go LTF by finding the mpl of that kink. So two mpls in that kink. You can pick whichever you like.
