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Higher Edge within a Single Candlestick

  • #921
  • Oct 3, 2017 11:40am Oct 3, 2017 11:40am
Interesting thread! Who can tell me what to do next? Seriously? This is your secret to success?
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  • #922
  • Oct 3, 2017 11:42am Oct 3, 2017 11:42am
Quoting grrbear
{quote} i think this is part of what i mentioned before about seneca pilots method where, instead of an hour candle for example, he would consider maybe half a session, 5 hours or so where, every session at the moment it opens, that will be the open price and his trades are placed according to this price, ie if price leaves the open for an amount of time then returns to the open a trade will be placed to fade it, with the exception that if price reaches a high or low before this occurs, that trade will be taken instead. if the open is on top of...
should clarify, high low means previous daily or weekly or monthly high low, not just most recent high low

daily high low is the 24 hours leading up to the session open time you are trading ie if you start at 12am then the daily high and low are based on 12am to 12am

the levels are where the orders are placed, any time frame as long as there are enough candles printed to see how price reacts to these levels is ok
  • #923
  • Oct 3, 2017 11:42am Oct 3, 2017 11:42am
Quoting nealpek
Interesting thread! Who can tell me what to do next? Seriously? This is your secret to success? {image}
I would say buy ASAP.
  • #924
  • Oct 3, 2017 11:45am Oct 3, 2017 11:45am
The context of a candle and where it appears is far more important than the single candle itself. Do you guys actually put your money on the table for a single candle stick?
  • #925
  • Oct 3, 2017 11:46am Oct 3, 2017 11:46am
Quoting Botan626
{quote} You could say you trade much much bigger sums.
ofcourse i do, but thats not important in this case, i do this very long time over more then 20 years and got it learned directly, so i cant compare to others. and i invest in more then trading. many looks like having big problems with get self educated or get in right starting point. near all from my friends from bank and funds old and new times trade more in private, some even use to trade seperate clients. thatswhy i wondered. until 20 mio is mentioned as small, 20-100 mio middle, from 100 mio you get bigger. and "second best in world" with 5 mio looked to extrem small, maybe can happen when most good traders trade privat or not in public at least for all. thatswhy i did ask. but funny that asking such logic question get problems by some people. i just wonder why noone else asks this question, are you all trading after so many years so low money level, that you did not asked how this can happen?
  • #926
  • Oct 3, 2017 11:52am Oct 3, 2017 11:52am
Quoting dukas_trader
{quote} ofcourse i do, but thats not important in this case, i do this very long time over more then 20 years and got it learned directly, so i cant compare to others. and i invest in more then trading. many looks like having big problems with get self educated or get in right starting point. near all from my friends from bank and funds old and new times trade more in private, some even use to trade seperate clients. thatswhy i wondered. until 20 mio is mentioned as small, 20-100 mio middle, from 100 mio you get bigger. and "second best in world"...

Is it possible to double $100 million in a day? Is volume enough?


Btw, I would have asked hanover the same Q, you made it before I did.
  • #927
  • Oct 3, 2017 11:56am Oct 3, 2017 11:56am
Quoting nealpek
The context of a candle and where it appears is far more important than the single candle itself. Do you guys actually put your money on the table for a single candle stick?
was the first method i tried when i first began this journey

a thread called price action(yay!) at babypips by member forexschoolonline

had us looking at 28 pairs of daily charts at 5pm est every day, waiting for the magical pinbar, two bar and even the elusive engulfing bar formation.....

ah yes.......we placed two horizontal lines on the most recent s/r levels on 28 charts and checked in without fail at 5pm each day....

good times...not
  • #928
  • Oct 3, 2017 12:00pm Oct 3, 2017 12:00pm
What was the result, if I may ask?
  • #929
  • Oct 3, 2017 12:03pm Oct 3, 2017 12:03pm
Quoting nealpek
What was the result, if I may ask?
a bunch of people duped into paying to join his trading website/room and a few(edit: lots) battle scarred soldiers with a funny story to tell about kangaroo tails and railroad tracks
  • #930
  • Oct 3, 2017 12:03pm Oct 3, 2017 12:03pm
Quoting grrbear
{quote} good times...not
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LoLz
  • #931
  • Edited 12:23pm Oct 3, 2017 12:06pm | Edited 12:23pm
Quoting havo
or even better.. forget time and 1more variable
Don't understand that point ... Surely, it is possible to remove the time variable (and just look at any number (for instance the prize 100 ticks back, etc.). But what exactly do you mean by "1more variable"?

(And more important: Do you use only 1 or multiple reference lines? - In your H1 = 4 M15 candles we could deal with 2 reference lines, the H1 open and the current M15 open ...)
  • #932
  • Oct 3, 2017 12:06pm Oct 3, 2017 12:06pm
Quoting Botan626
{quote} Is it possible to double $100 million in a day? Is volume enough?
if you risk 100% on this day ,you have enough margin (depends if your broker and product) and the movement in the currency is big enough (or you have so many seperate trades with many wins, but then you need many currencies to have trades inside, because 100 mio with margin added is big value so you need have in most currencies only until 5-10 mio good spreads, for usd currencies its higher) - you can win 100% per day by same time risking all you have in this account or at least until margincall ( you can simple go in casino and do same)- but thats no trading , its gambling, because noone can calculate that any day/week is win, its possible taht near any month is win in best cases and good traders, but even then all 2-5 years you have maybe 1 minus month. but why someone would do so? i dont know the risky traders, only the traders who want slow growing equity curves that are with small amplitude. so you are at complete wrong adress with me by risking all or higher percent to get extrem or much higher wins.

you can make 10.000 to 1 mio in 10 years, this are realistic goals, if you can let the wins run inside until you grow higher. thats possible with small risk and steady growing.
  • #933
  • Oct 3, 2017 12:06pm Oct 3, 2017 12:06pm
@botan : )
  • #934
  • Oct 3, 2017 12:11pm Oct 3, 2017 12:11pm
i shouldn't say duped, rather, in my experience they reel you in with a bunk trading method ie incomplete, then apparantly after you pay to join you learn the missing pieces and become a trader
  • #935
  • Oct 3, 2017 12:12pm Oct 3, 2017 12:12pm
I did new test for price imbalance. H1 open was reference point. It is the max Imbalance found in that 1 hour timeframe. And got some stats:
Imbalance of >=3(body/wick) = 88%;
Imbalance of >=5(body/wick) = 70%;
Imbalance of >=8(body/wick) = 45%;
And now worst results Imbalance of [1,2) = 2.4%. And the market in this stats looks like this:
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And I don't know how to deal with this market condition. It causes losses. Of course, I could extend TimeFrame to another hour or two or till I get imbalance of >= 2. But on rare situations that timeframe can extend to months and years. Any opinions?
  • #936
  • Oct 3, 2017 12:14pm Oct 3, 2017 12:14pm
I've seen their videos on youtube. Entered a trading room once on a free trial(can't remember the name), and the guru says, trade this when you see it touch my proprietary line. Price didn't come close to the line, and the thing just shot up through the roof. Guru comes back and says "did anyone catch this trade"? Why would we, it never touched the line of magic. He says "didn't you see that it came close to the line?" Ya, only 45 pips away! Only after the fact, of course, did the pro tell everyone about the nice trade we should have taken, if we had only followed his directions. Of course, I never returned to his site again. Another scheister, Linda Raschke. If you can follow all of her psycho babble, again "after the fact". This was where you should have gotten in on this move! DDUUHHH, DO YOU THINK SO!!
Be careful of all the market wizards, and for gods sake, save your money and study your own charts.
  • #937
  • Oct 3, 2017 12:15pm Oct 3, 2017 12:15pm
Quoting dukas_trader
{quote} if you risk 100% on this day ,you have enough margin (depends if your broker and product) and the movement in the currency is big enough (or you have so many seperate trades with many wins, but then you need many currencies to have trades inside, because 100 mio with margin added is big value so you need have in most currencies only until 5-10 mio good spreads, for usd currencies its higher) - you can win 100% per day by same time risking all you have in this account or at least until margincall ( you can simple go in casino and do same)-...
I will make my Q smaller.

Is it possible to buy and sell $2 billion euros within one day?
  • #938
  • Oct 3, 2017 12:21pm Oct 3, 2017 12:21pm
Quoting Botan626
{quote} I would say buy ASAP.
for sure?
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  • #939
  • Oct 3, 2017 12:23pm Oct 3, 2017 12:23pm
Quoting BlackNapkins
{quote} for sure? {image}
Are you looking for a trading system?
  • #940
  • Edited 12:34pm Oct 3, 2017 12:23pm | Edited 12:34pm
Quoting Botan626
{quote} I will make my Q smaller. Is it possible to buy and sell $2 billion euros within one day?
yes. when you split the order or use iceberg order types easy. if you want all at same time and by market order, you would have to pay an extrem spread. better then using limit order at least. but having so much in the market , you need very high equity, because going out the market when there is a big news or special unscheduled news, then you get extrem slippage with this big amount. i did never try at this values, more then 100 mio i would never trade in eurusd (and all strategies in this currencie together in same direction) and in many other currencies much much smaller.

going in the market is not the problem, going out is the more difficult part and needs to calculated until its possible without to high spread and slippage for worst case news.

an other question? is forexfactory also very slow today on your side? maybe server problems or its on my side.
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