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Real or Algo

  • #41
  • Apr 22, 2020 11:43pm Apr 22, 2020 11:43pm
Let me tell you what I know from my own trading.
1) The market is not manipulated.
2) Fully automated algorithms are less than 50% of the forex market.
3) Price moves because of supply and demand.
4) The first few hours of the london session usually tells me if a price expansion is brewing up, that part contains significant algo accumulation, and can be exploited if you know what to look for. It follows fibs as a big part of its order execution.
5) There will always be higher time frame players in the market that can derail the algos plan for the day if a significant news event shows up.
  • #42
  • Apr 23, 2020 4:11am Apr 23, 2020 4:11am
Quoting BWilliam
{quote} There are people who search for this channel and secret settings, here's one. I modified the original based on the settings of my deceased buddy. Hope this helps someone out there. {file}
Dear BWilliam,

Thanks for your attached Indi, what I have found the channel are almost similar with the TMA True settings from George for M15, H1 and H4 chats but with lesser multiplier. The channel served goods as the extension exhaustion but to me is just a small part of the puzzle, I identifying first the TARGET (pool of liquidity) as my most important puzzle before anything else as the reality, we are against highly manipulated algo whose run TARGET before retreating. After the TARGET has been cleaned out, we should wait patiently and the Algo will always find its way to the next TARGET. As to the questions to whitesta, not all the TARGET will retreat after the clean out process, but the answer will be lying into experience when you have seen enough on the chart whereby the market has to reach a point that it will broken far and to the next TARGET level in correlation with George's filter which he strictly applying at all times such as ADR, sessions of the run, etc..

I always have a written paper next to my trading screen of George's filters whenever I trade, at first Its really hard to have so many things running on my mind, but as times goes by, I have started used to it, is not easy, but I am sure my trading journey has been improved a lot, just put a lot of screen time, we can see the TARGET even on 1m chart.

As my replying to this post, my GJ pair has been TP, after 1 hour of London open, market has clocked 90 pips and it has been reached to my TARGET marked on both m15 and H1 chart, and I entered at the extension exhaustion of 1mt chart (as it reached TMA pressure zone), and my TP target is on the MINI Price GAP (back to back bar) on m15 chart. Next, when will the market will go next? We do not know, just wait patiently and the market will show us.

Regards,

Sky.
  • #43
  • Apr 23, 2020 4:38am Apr 23, 2020 4:38am
Quoting OneDana
{quote} Dear BWilliam, Thanks for your attached Indi, what I have found the channel are almost similar with the TMA True settings from George for M15, H1 and H4 chats but with lesser multiplier. The channel served goods as the extension exhaustion but to me is just a small part of the puzzle, I identifying first the TARGET (pool of liquidity) as my most important puzzle before anything else as the reality, we are against highly manipulated algo whose run TARGET before retreating. After the TARGET has been cleaned out, we should wait patiently and...
Hi OneDana,

Thanks for the explanation. Had a look at the Gbp/Jpy chart and yes it did drop around 90 pips after the Frankfurt open. The time of the day was good. ADR was in favour. Was inside the TMA pressure zone. Could you show on your chart as to why you thought that it was the place to go short, there was a bit of Herd up there but not much. The TP or Target was another low I guess. There are things some see and some don't. Thanks in advance.

Regards
  • #44
  • Apr 23, 2020 6:12am Apr 23, 2020 6:12am
i USE OPPOSITE CURRENCIES - CHART ATTACHED SHOWS HOW THE ALGO'S WORK - IT CAN BE USED FROM 1 HOUR DOWN TO THE 1 MINUTE.
I CAN KEEP WIN RATE ABOVE 90% - SCALPING 10 TO 20 POINTS.
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD OPPOSITE EURGBP.png Size: 63 KB
  • #45
  • Apr 23, 2020 6:33am Apr 23, 2020 6:33am
Hi Moodybot

Hope you caught the trades on EURJPY just recently. The Trap has played out quite nicely and was very controlled by the Algo. The expansion of each leg was limited by the Algo below 116.07 to three steps then the setup reversal occurred on that last step. Each step was a mini target in itself with the final move down on M1 to 115.73.
So there was two Buys worth around 10 pips each with the current move up worth 20+ pips (still moving up as I write).
Add a extra trade or two and we had 50 pip win with 4-5 trades.

Chart less my Settings

by george that was easy money
Attached Image (click to enlarge)
Click to Enlarge Name: ej 5 trades.png Size: 139 KB
Trading thin liquidity at the boundary of the charts
  • #46
  • Apr 23, 2020 6:37am Apr 23, 2020 6:37am
Quoting moodybot
Is this Support and resistance, supply and demand......or just an Algo messing with psychology. What would a trader think...support. Solid {image}
Hmmmm....
Attached Image (click to enlarge)
Click to Enlarge Name: USDCADM15.png Size: 77 KB
  • #47
  • Apr 23, 2020 6:39am Apr 23, 2020 6:39am
Quoting RickM
Hi Moodybot Hope you caught the trades on EURJPY just recently. The Trap has played out quite nicely and was very controlled by the Algo. The expansion of each leg was limited by the Algo below 116.07 to three steps then the setup reversal occurred on that last step. Each step was a mini target in itself with the final move down on M1 to 115.73. So there was two Buys worth around 10 pips each with the current move up worth 20+ pips (still moving up as I write). Add a extra trade or two and we had 50 pip win with 4-5 trades. Chart less my Settings...
Hey Rick still kicking ass I see!
  • #48
  • Apr 23, 2020 6:48am Apr 23, 2020 6:48am
Quoting Nikl
{quote} Hey Rick still kicking ass I see!
Broke my promise didn't I ha ha
Trading thin liquidity at the boundary of the charts
  • #49
  • Apr 23, 2020 6:54am Apr 23, 2020 6:54am
Quoting RickM
Hi Moodybot Hope you caught the trades on EURJPY just recently. The Trap has played out quite nicely and was very controlled by the Algo. The expansion of each leg was limited by the Algo below 116.07 to three steps then the setup reversal occurred on that last step. Each step was a mini target in itself with the final move down on M1 to 115.73. So there was two Buys worth around 10 pips each with the current move up worth 20+ pips (still moving up as I write). Add a extra trade or two and we had 50 pip win with 4-5 trades. Chart less my Settings...
Hahha. I knew you would be taking those. 1 2 3.
Empty your mind and let the market guide you
  • #50
  • Apr 23, 2020 7:30am Apr 23, 2020 7:30am
Quoting RickM
Hi Moodybot Hope you caught the trades on EURJPY just recently. The Trap has played out quite nicely and was very controlled by the Algo. The expansion of each leg was limited by the Algo below 116.07 to three steps then the setup reversal occurred on that last step. Each step was a mini target in itself with the final move down on M1 to 115.73. So there was two Buys worth around 10 pips each with the current move up worth 20+ pips (still moving up as I write). Add a extra trade or two and we had 50 pip win with 4-5 trades. Chart less my Settings...
You took the 1-2-3 up, I took the single step down.
Attached Image (click to enlarge)
Click to Enlarge Name: c1.png Size: 13 KB
Know what you trade
  • #51
  • Apr 23, 2020 7:49am Apr 23, 2020 7:49am
Quoting BWilliam
{quote} You took the 1-2-3 up, I took the single step down. {image}
If traded same level but wrong time, same trick won't work. Can PA tell the difference ?
Attached Image (click to enlarge)
Click to Enlarge Name: e2.png Size: 13 KB
Know what you trade
  • #52
  • Apr 23, 2020 8:05am Apr 23, 2020 8:05am
Quoting Nikl
{quote} Hmmmm.... {image}
And there it goes!
Attached Image (click to enlarge)
Click to Enlarge Name: USDCADM15.png Size: 76 KB
  • #53
  • Apr 23, 2020 8:07am Apr 23, 2020 8:07am
Quoting Nikl
{quote} And there it goes! {image}
That's Laura's channel strategy trade.
Attached Image (click to enlarge)
Click to Enlarge Name: uc1.png Size: 22 KB
Know what you trade
  • #54
  • Apr 23, 2020 8:54am Apr 23, 2020 8:54am
Quoting Nikl
{quote} And there it goes! {image}
Surely not again....
Attached Image (click to enlarge)
Click to Enlarge Name: USDCADM15.png Size: 64 KB
  • #55
  • Apr 23, 2020 9:46am Apr 23, 2020 9:46am
Quoting RickM
Hi Moodybot Hope you caught the trades on EURJPY just recently. The Trap has played out quite nicely and was very controlled by the Algo. The expansion of each leg was limited by the Algo below 116.07 to three steps then the setup reversal occurred on that last step. Each step was a mini target in itself with the final move down on M1 to 115.73. So there was two Buys worth around 10 pips each with the current move up worth 20+ pips (still moving up as I write). Add a extra trade or two and we had 50 pip win with 4-5 trades. Chart less my Settings...
in a scalping manner, but the similarity for the entry levels hard to deny
and no, we didn't discuss the setup with Rick.
left side his chart with notes, right side the trades i took today.

Attached Image (click to enlarge)
Click to Enlarge Name: EJ with RickM 23.04.2020..png Size: 219 KB
there is always, always another trade!!
  • #56
  • Apr 23, 2020 10:12am Apr 23, 2020 10:12am
Quoting profitfarmer
{quote} in a scalping manner, but the similarity for the entry levels hard to deny and no, we didn't discuss the setup with Rick. left side his chart with notes, right side the trades i took today. {image}
i was getting a little confused, why you and the rickm have not opened positions in the first lows and only in the last two and it can be on the three like rickm have made, before the price reversed and went up, but after change between frames now i realized, including the entries and exits

nice
Uncertainty of the market must be embraced and accepted.
  • #57
  • Apr 23, 2020 2:41pm Apr 23, 2020 2:41pm
Excellent thread Andy. I took the EurJpy today as well but only short 1 time. Missed the short from the high of the day but you can't sit in front of the computer all day. Or at least I cant anyway. A win is a win.

Dave
Attached Image (click to enlarge)
Click to Enlarge Name: EurJpy_M15.png Size: 25 KB
K.I.S.S.
  • #58
  • Apr 23, 2020 3:05pm Apr 23, 2020 3:05pm
Hi all

I would just like to thank all of those who have taken the time to contribute, whatever their thoughts are on how the market functions.
Whether a seasoned trader or just starting out, there is something for everyone and very welcome.

The EURJPY did play out as expected, this happens time and time again, all pairs all time frames.
I see that NikL has posted up a couple of herd mentality charts..if you see them, please post them.
If able, please mark the zones, it may help other traders, and critique posts if seen. Discussion is healthy.

Rick, I had the privilege of sitting with George through the session, and to have had another pair opened would have have resulted in my ass being kicked.. I'll run through the EJ in a short while, see where my own filters would have got me in and great to see Zoltan also showing trades in the pressure zone.

The point to take I think from recent posts is that recent contributors have I believe used Georges TMA, have an understanding of market structure and although may have different entry routines, they look to trade in or around the same levels in the pressure zone.

To the others who have posted charts, all good, it's an open discussion, please do so.

Friday morning here in Oz, stay safe, trade safe...

Andy
  • #59
  • Apr 23, 2020 3:08pm Apr 23, 2020 3:08pm
Quoting fmsfx
Excellent thread Andy. I took the EurJpy today as well but only short 1 time. Missed the short from the high of the day but you can't sit in front of the computer all day. Or at least I cant anyway. A win is a win. Dave {image}

Poor attitude Dave, you are expected to sit in front of the PC all day..
I expect a time sheet from you next week to be on my desk Friday morning...pronto!!

Great trade by the way, I wonder how you decided on that one....
  • #60
  • Apr 23, 2020 4:23pm Apr 23, 2020 4:23pm
Have been a lurker most of the time on FF - but this thread reminds me of my initial trading activities.

Good, but rare signals on FOREX pairs. Especcially on the JPY pairs which we call the "amateur" pairs in our trading group. Anyway, if it makes money it's fine.

Personally, I prefer to trade CFDs (DJI30, DAX30, NQ100, HKI50), which have a much higher reward potential, with some additional confirmation by a momentum indicator on Renko charts and make my living from it.

Is there an algo in place? No idea, but at least the market seems to have a certain "memory". See e.g. the W1 touch in the attached screenshot - 16 years old, last touch 5821 days ago and it's a valid signal :-)

Well, stay all safe in these exceptional times - hope that the upload of the screenshot works (never tried this before; used USDCAD15 as it was discussed here before in the thread before and reproduces the previously posted signals). Will try to post the indicator I use later in case the screenshot publication works.

BR, thestranded

Attached Image (click to enlarge)
Click to Enlarge Name: Image1.png Size: 404 KB
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