Back to the Future – My Freewheeling Journal

m5

This could be tough and tricky again... be ready. If in position.
I'm scaling out ...
-10

Stop repaid again.
This is not "correct"... it's really risky and dangerous.
I can do it cause I have a lot of profit as "cushion". OK?

Correct decision is only on an HL clear and defined. That must be the safe rule. Meditate on this.
My Rule is: "No Single Stop in the Market." (Stop as Top or Bottom... LOL)

Edit - HL violated... and I exit my position.... waiting.

Bias... Adapt! +13.90
No ego pride. Abandon your individuality and respect the Force.
Each successful trader has his clear rules on flexibility.
Obey. No clinging. No attachment.
They are not empty words.

Take care of you. Trade safely.
I'll call it a day.

Good habits.
At the end of the day take some time to re-analyse the battlefield.
What happened.
The developments.
Your successes and your mistakes in understanding and flowing.

Decide and define what are your points of reference: levels, points, MAs....
Check your Mental Map.
And reinforce it, if you did well.
Correct it, if you were wrong.

And say Thanks to Mama. Always.
Either if you won or... LOL if you simply learnt.

I spent years searching for the courses and private courses of the "Greats"... the "Fathers Founders".
I have got almost all the Gann's materials.
I even have a copy of his advertising ad and one promotional folder!!!! And I won't give them to anyone! ROLF not even under torture!

Have this one little bit.
From Wyckoff - Course on Charting - End of the Introduction

I, therefore, claim that:
You need never read anything on the financial page of your newspaper
except the table of stock prices and volumes.
You need pay no attention to the news, earnings, dividend rates or statements of corporations.
You need never study the financial or the business situation.
You need not understand railroad or industrial statistics, the money market, the crop situation, the bank statements, foreign trade
or the political situation.
You can absolutely ignore all the thousands of tips, rumors, reports and especially the so-called inside information that flood Wall Street.
You can discard all of these completely and finally.
UNLESS YOU DO THIS.. YOU WILL BE UNABLE TO GET THE BEST RESULTS FROM YOUR MARKET OPERATIONS.

Claim... He wrote... Therefore I claim...!
It's Mr Richard D. Wyckoff (aka Rollo Tape) ... not me.

What do you feel and think reading such lines?

So this is why I'm not interested in News and I'm not interested in Fundamentals of any type.
I'm a trader. I'm not an analyst or commentator.
“Price discounts everything.”
And you must believe in this basic Dow's principle.

Sun Tzu again.
And this is me. I take each of these words in consideration.
From the first to the last they are “sacred”. Untouchable.
And those “mental structure” is perfect in relation to the entity of my account.
These are the rules to keep the army (account) intact.
A kingdom (account) that has been destroyed can never come again in life.


16. Hence the saying:
The enlightened ruler lays his plans well ahead;
the good general cultivates his resources.

17. Move not unless you see an advantage;
use not your troops unless there is something to be gained;
fight not unless the position is critical.

18. No ruler should put troops into the field merely to gratify his own spleen;
no general should fight a battle simply out of pique.

19. If it is to your advantage, make a forward move; if not, stay where you are.

20. Anger may in time change to gladness; vexation may be succeeded by content.

21. But a kingdom that has once been destroyed can never come again into being;
nor can the dead ever be brought back to life.

22. Hence the enlightened ruler is heedful, and the good general full of caution.
This is the way to keep a country at peace and an army intact.


But please: don't read and run! Sip each word. Pause. Use the imagination to expand the concept.
Plan, resources, advantage, troops, the ruler, his general.
Vexation and content. Spleen, pique. And death.
Full of caution.

How to build a proper, personal "Mental Road Map" - 7

Think in Waves.

A video for Advanced Students.
The beginning of the Master Course.
Wyckoff Approach illustrated by the best of Wyckoffian: David Weis.

Everything is in front of our eyes only that we don't know how to see it.
Price and Markets have Logic and Laws.

Accumulation and Distribution
Supply and Demand.
Volume and Effort
Trend, Trend continuation and Range meaning and signification.
Waves (Impulse and Reaction)
Contractions and Expansions
Embedded trends
Fractals and Opposite Fractals
...and how the traders react (with their decisions) to and in this ever changing environment.

Filters:
> Market's directional bias
> Relative/Comparative Strength Analysis (and I am not talking about any indicator but about pure price models!)
> Structural Analysis of the Trading Ranges and their significance in the global Trend
> Supply and Demand (Support and Resistance) Analysis

Sun Tzu said...
Hence to fight and conquer in all your battles is not supreme excellence;
supreme excellence consists in breaking the enemy's resistance without fighting.

fti on TAF (Technical Analysis Fallacy) - #56473
"If one can win, winning should be effortless.
If it's struggling, then one is not winning. Refer to bingfa. (Sun Tzu)
You don't make the profits in 1 trade, try not to spend it all in 1 drink hole.
it's ok, ok lesson, you just lost some pee for a lesson.
remember it. it's not a mistake, only a lesson.
is better than lost capital and spend few months recovering.”


Are you in trouble searching where to exit and where to turn?
It is because we all miss (yes, I do, too. Sometimes, talking to my scorpions...) the basic Dow's definition of trend...
It is the exact symmetric opposite of "I don't catch not even one trend."
When a trend must be considered established (entrenched for fti) and when changed!
If I presented to you a sequence like that: trend hunting, trend stalking, trend catching and trend following, would you get why?
What does it mean "till the end of the trend?" (Which damned trend? What are embedded trends?)

Just hunt and stalk the market.
Wait for the right timing by feeling her beat, pulse and rhythm
Use your scout well, wisely to get feel of terrain and enemy trenches (Livermore “Probing Method”)
When you have rhythm and position then attack.
If ill timed exit and go back to stalking scouting mode again.
If on time do the magic, use your army, press and whack them hard. Without any pity.

The book is useless... don't spend your money. But some pages are simply wonderful, divine!
I'm talking about “Welles Wilder – The Adam Theory of Markets or What Matters is Profit.”
The preface, the intro, is exactly were I am after 7 (seven) years in the markets.

"Adam is getting in tune with the universe, not insisting that it get in tune with me.
To insist that it get in tune with me would be arrogant, and it would be my own arrogance that would destroy me.
To get in tune with it is to be humble, willing to follow it where it goes.
If I fight against the river by trying to go up stream,
it seems like a relentless implacable enemy constantly pushing against me, constantly trying to thwart me.
But the river is not against me, it's just flowing the way it's flowing.
If I can get in tune with it, mirror it, go the way it's going,
then life — or trading — becomes an effortless, serene, beautiful float down the stream."


Welles Wilder is the Father of almost the Indicator that the traders use.
After having lost some millions in the markets... he went back to the study of the old, good “Swing High and Swing low”.
Unfortunately his studies were not published.
But we know he worked of differentiate “Normal” and “Significant” point.

Remember that the artist in this field was Jesse Livermore, with his “Pivotal Points”... (Pivotal nor Pivot, LOL)
Jesse wrote:
Whenever I have had the patience to wait for the market to arrive at what I call a "Pivotal Point" before I started to trade,
I have always made money in my operations.
Why? Because I then commenced my play just at the psychological time at the beginning of a move.
I never had a loss to worry about for the simple reason that *I acted promptly
and **started to accumulate my line right at the time my guide told me to do so.
All I had to do thereafter was just sit tight and let the market run its course,
knowing if I did so, the action of the market itself would give me in due time the signal to take my profits.
And whenever I had the nerve and the patience to wait for the signal, it invariably did just that.

Everything. Jesse wrote everything (black on white) and we don't understand.
Dow, Livermore, Gann, Elliott... when a Trend starts, when a Trend ends.

This is the way in which I represent the Market movement in my mind.
This image comes from the video below.
From my mind it passes to the entry, the scale in and out and the final exit.

My personal enemy: The Scalper's Frenzy.
We must learn to sit longer in our trades (I mean in the trades going in the correct direction ROFL).
In the Deltaone's War Room I was much more relaxed than here.

There are these two traders that I like particularly.
I found same of their works very similar and in line with my personal discoveries.

...Chris Lori

Chris Lori, again.

And the second trader with a nice view is Hima Reddy.
Great expert on Gann.
And she speaks about (my) Gann in this video.
Find her book, too... and you will discover a new universe.
(The one in which I live...LOL)

https://www.himareddy.com/tradestati...on-hima-reddy/

(resist to the effect in the beginning...)

This is so true... but if you are not a position trader and particularly trading forex trading lower time frames you need to be aware of some "important fundies" just before and after it will be out for this is where money makers and sharks capitalizes the odds on their favors where heaps of us killed or bleed... to death sometimes.

for swing traders a different story.

hey GBP is above 1.32xx now she's heading 1.34xx but again life is not that easy

are you proposing a trader without a plan/method/strategy, who feels his/her way around outperforms a trader with a plan ?
in that case, much like in art or the creative field to succeed in trading one must possess that innate ability to feel the market, and anticipate price direction ?

great journal btw Jupiter, he wrote in one of his entries market is not 100% random, that price can be predicted at times - being a complex system that it is (much like our bodies) it should be hard to fully understand its structure and mechanics making it even harder to predict price. Don't get me wrong dongsky, I just feel that unless you're a genius on the similar caliber as Einstein it almost seems impossible to me to feel your way around market and make money without a plan. The only way to make consistent money or becoming successful in this business seems to be to have a method thats built upon years of trial, error AND observation.

on not sitting on your trades that is going in the right direction long enough - I suck at holding trades longer than few hours !, but as years go by (on my 4th year) I'm slowly realizing thats the only to make money, to sit on your trades that are going in the right direction and keep adding positions, instead of closing that trade and opening another one (that's an added risk we're taking). I think it all starts with a pattern, a specific pattern that has a tendency to send price rolling up or down for an extended period of time in trading maybe two or three legs up OR down ? let's face it not all patterns are created equal.

i simply don't know the answer! guess what, i'm always wrong anyway. feel free to do and keep on doing whatever it is you think you are good at and maybe one day... just maybe, you will see yourself into a different perspective