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Price action at the core = family members' discussion project

  • #641
  • Jan 1, 2021 4:40pm Jan 1, 2021 4:40pm
Quoting PeterCaleb
Since my perspective is a little different to most people's here, I felt it good to write this ..... ** Self Fulfilling Prophecy Strategy Used By Professional Long Term Traders In Light of Fibs-Waves I sense it's really very necessary to show here that a tool is only capable of linear process. A moving average is only capable of adding left, adding left. Although it holds A LOT of information that is not easily seen at a glance, unless you have a keen eye, it still just sits there. It's the same with Fib tools, Trend lines etc. So a certain amount...
Now you are talking loud and clear.
  • #642
  • Edited 10:45pm Jan 1, 2021 9:25pm | Edited 10:45pm
Quoting TimeTells
{quote} Hi BW, Well yes now we are getting somewhere, discussing what the thread was about, so the discussions I always appreciate. And regardless of whether one agrees or disagrees with its premise, even George I would venture to say would welcome disagreement in any form should it be backed up with some form of fact, verbal or visual to support an independent trader's assertion. That is how we all progress in life.
TimeTells, Lets discuss George's expansion wave target that's similar to Crucial Point's 95% of the time the candle is up or down.

Just before London close when I posted the last pic above this's what it looked like as the pic shows with ADR at 45%, means still more expansion to come. And that swing low placed the day at a meagre 10% level screaming long. That swing to new high after LC is therefore predictable. However the m1 fibs 127% don't look right pointing to the same day high when market is expected to register a new high. So a redraw from the last swing to the day high on m5 tf points to a new 127% expansion target and yes the market went up there registering a decent 71% ADR. With proper fibs drawing updated to market, proper calibrated channels, an eye on ADR, given a strong GBP the market intention of 127% expansion target is precisely revealed ahead of time.
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Know what you trade
  • #643
  • Jan 1, 2021 10:31pm Jan 1, 2021 10:31pm
Constantly anchor at a set time frame leave no room for subjectivity.
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that list of numbers is M15 movement
  • #644
  • Jan 1, 2021 11:04pm Jan 1, 2021 11:04pm
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and if set at swing low of the 1st 4 hours - target 200
  • #645
  • Jan 1, 2021 11:10pm Jan 1, 2021 11:10pm
Quoting BWilliam
{quote}
TimeTells, Lets discuss George's expansion wave target that's similar to Crucial Point's 95% of the time the candle is up or down.


Hi BW,

Nice work thank you.

I still feel though the “precision” of a tool/indi is firmly in the hands of the trader, and NOT exactly the tool.

(Though with the 127% Fib well done, you are on to something for sure I can see that).


While I say this about precision and tools/indis is because their use/calibration is by definition arbitrary,
and therefore trader-dependent (not tool dependent).


For example, 2 traders could set up their fib % grid, at DIFFERENT start/end points
as the base for their 0% and 100% swing points

Which would cause the fib-grid percentage lines to vary between two traders.

To me that is not really precise.
Or a precise tool, if it responds differently to different traders
(which was really my point, sorry).


But they are useful & can be used for sure, yes.


You have also mentioned straight horizontal lines. George explained them in his first thread as
TARGETS, TARGETS, TARGETS.

To me, that’s what I took as the guts of his market observations.


Not the TMA/lwma indi, as again it will lack true precision, in that it is the trader who decides on the multiplier/deviation bands available in the indi parameters.

So again the tma/lwma is not what I know as precision indi/tool.


But we might actually only be talking about the use of words like precision and its meanings while holding somewhat similar views, I can't say yet.
(words & their context is a trap on written forums I know).


The targets, targets, targets concept is quite a hard drawn straight line.

& therefore holds more precision in my eyes.

(but I acknowledge you may not agree with me, and that is quite okay, it’s a good discussion).


Here is the same chart for GBPJPY that you posted above, for your perusal.

This time looking at the chart from a targets point of view (with a similar result for the trader as such).
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  • #646
  • Jan 1, 2021 11:32pm Jan 1, 2021 11:32pm
Quoting BWilliam
{quote} TimeTells, Lets discuss George's expansion wave target that's similar to Crucial Point's 95% of the time the candle is up or down. Just before London close when I posted the last pic above this's what it looked like as the pic shows with ADR at 45%, means still more expansion to come. And that swing low placed the day at a meagre 10% level screaming long. That swing to new high after LC is therefore predictable. However the m1 fibs 127% don't look right pointing to the same day high when market is expected to register a new high. So a redraw...


I know I will receive criticism for saying this but I don't care ....

Fair enough but .....

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Most of what was said was speculation. Just because 'it does it' has no bearing on the truth. I can place any tool on the chart and set it up to tell me something. A trader trades the future not the past assumptions. This would be the difference between your approach displayed and my approach. I sense George simply went down a path , like so many, desiring one thing and finding some-thing.

Peter
Real Trading is not gambling.
  • #647
  • Jan 2, 2021 12:26am Jan 2, 2021 12:26am
Hi Peter

Yesterday I read Martin Coles Market Maker book and there were some takeaways I thought I would like to ask you about.

The key takeaway from the book was that all Technical analysis will fail in the wrong run and that the only way to trade successfully for the long term was to learn the Market Maker business model and place trades in accordance to that.

Accumulation, stop runs, profit-taking.

To me, in light of the examples he produced, this seems to make some sense. Though, we could just be giving language labels to the printing of market images on the chart, with everything being random.

The other interesting observation was that if one could identify if MM was running short/buy stops then you have your direction.

Thanks Mike
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  • #648
  • Jan 2, 2021 12:46am Jan 2, 2021 12:46am
Hey Peter, genuine feedback, we are starting to glean a few little things from your posts, so i gather from this post that you're not a fan of indicators, though i did see somewhere you do use MA's, if you're as experienced trader as you say, well you should have something to offer, so how can you get it across in a way that others can understand? , so if you were looking for a trade setup, what would you be looking for, what conditions would trigger you into taking a trade, i know conditions are always variable, but surely you have some protocol that you would use, you talk about "my approach" well what is it? that is the sort of thing that people would like to know, surely it is not some mystical thing that no one will understand until they have been trading for 30 yrs or something? I'm not posting this to take you down, it's a genuine question?
  • #649
  • Jan 2, 2021 1:34am Jan 2, 2021 1:34am
Quoting TimeTells
{quote} Hi BW, Nice work thank you. I still feel though the “precision” of a tool/indi is firmly in the hands of the trader, and NOT exactly the tool. (Though with the 127% Fib well done, you are on to something for sure I can see that). While I say this about precision and tools/indis is because their use/calibration is by definition arbitrary, and therefore trader-dependent (not tool dependent). For example, 2 traders could set up their fib % grid, at DIFFERENT start/end points as the base for their 0% and 100% swing points Which would cause the...
The main difference with George and his followers is he is a convergent trader and I am a divergent trader, we are poles apart. So when you look at my chart it's inverted. One of the reasons why I don't post chart details on here so as not to confuse convergent practitioners here. I adapt George's convergent targets for the precision purpose as my start and end point. The mainstay that guide my approach is market structure which I don't post on here.
Know what you trade
  • #650
  • Jan 2, 2021 5:34am Jan 2, 2021 5:34am
Quoting failinforex
{image}and if set at swing low of the 1st 4 hours - target 200


I'm liking what I see there. I know that's not why you're showing it. At least not for my sake, but it's good to hear it sometimes.

Peter
Real Trading is not gambling.
  • #651
  • Jan 2, 2021 5:45am Jan 2, 2021 5:45am
Quoting asset21
Hi Peter Yesterday I read Martin Coles Market Maker book and there were some takeaways I thought I would like to ask you about. The key takeaway from the book was that all Technical analysis will fail in the wrong run and that the only way to trade successfully for the long term was to learn the Market Maker business model and place trades in accordance to that. Accumulation, stop...


asset21,

To be perfectly honest, I haven't read any of his books. So I cannot say with any insight what he's about. But if he's writing about market makers etc, then he's likely post-1987.

If I put some time aside soon, I will write what I can about what many people seem to be in the dark about (Although I don't know why as the information has always been there to access. And by always I do mean always).

Peter
Real Trading is not gambling.
  • #652
  • Jan 2, 2021 5:55am Jan 2, 2021 5:55am
Quoting Profitgrowth
Hey Peter, genuine feedback, we are starting to glean a few little things from your posts, so i gather from this post that you're not a fan of indicators, though i did see somewhere you do use MA's, if you're as experienced trader as you say, well you should have something to offer, so how can you get it across in a way that others can understand? , so if you were looking for a trade setup, what would you be looking for, what conditions would trigger you into taking a trade, i know conditions are always variable, but surely you have some protocol...


Profitgrowth,

I truly do not understand where you are reading that I do not "like" indicators. I use indicators. I simply don't use them for entry, maintenance and exits. I use them for study and research. Although on here, I have had them on the chart for the purpose of explanation, example and description. And again with trying to probe me into giving up information that is not yours. Can you think why? I do plan on trying to explain a few things sometime soon. So maybe that will finally satisfy you. There's nothing mystical about it all. It's simply that for eg on FF, basically the same information is recycled over and over again. And people wonder why they get so dissatisfied with their results.

Peter
Real Trading is not gambling.
  • #653
  • Jan 2, 2021 9:33am Jan 2, 2021 9:33am
Inserted Video
It never gets easier, you just get better
  • #654
  • Edited 4:03pm Jan 2, 2021 3:49pm | Edited 4:03pm
Quoting PeterCaleb
{quote} Profitgrowth, I truly do not understand where you are reading that I do not "like" indicators. I use indicators. I simply don't use them for entry, maintenance and exits. I use them for study and research. Although on here, I have had them on the chart for the purpose of explanation, example and description. And again with trying to probe me into giving up information that is not yours. Can you think why? I do plan on trying to explain a few things sometime soon. So maybe that will finally satisfy you. There's nothing mystical about it all....
"And again with trying to probe me into giving up information that is not yours. Can you think why?"
i just assumed you would freely share how you trade the same as everyone else does, but if there is some special reason why you can't , then we'll just have to leave it there. eg, like if whoever you worked with/for during your trading career, has banned you from disclosing any trading strategies etc, just say so, and we'll understand that.

"It's simply that for eg on FF, basically the same information is recycled over and over again. And people wonder why they get so dissatisfied with their results."

Ok,l get that, we look forward to hearing your solution to this, but so far I have no idea what that is.
  • #655
  • Jan 2, 2021 7:24pm Jan 2, 2021 7:24pm
Hihihihihihihiiiihehehehehehehee ..... I couldn't resist.

Inserted Video



Peter
Real Trading is not gambling.
  • #656
  • Edited 10:58pm Jan 2, 2021 8:07pm | Edited 10:58pm
Quoting PeterCaleb
Hihihihihihihiiiihehehehehehehee ..... I couldn't resist. https://www.youtube.com/watch?v=T3to8QdXlpU Peter
So... what has this got to do with trading? Seriously, is that the best you can come up with? well, i guess you've proved what a fake fraud you are, when anyone tries to engage in a cordial way, suppose i should have taken more notice of the following comment.says it all.

@PeterCaleb -- you joined FF middle of last month and are already going on 200 posts. Since joining you post 10-20 times every day. After all those years as an "experienced trader" what bug crawled up your ass on Nov. 17, 2020 that caused you to proclaim your new mission in life was to share your wonderfulness with all the poor, struggling traders at FF?
  • #657
  • Jan 3, 2021 2:22am Jan 3, 2021 2:22am
I haven't heard from him for a while, he was planning a month or so ago I remember to fly over with his wife and visit his son who is interstate (within Oz) and stay with them for a month as he hadn't seen them for over 3 years.

Happy to hear that George is having a good time> My best wishes to him and his family.
  • #658
  • Jan 3, 2021 2:54am Jan 3, 2021 2:54am
Quoting RickM
{quote} Hi Freefox Its not a multi wave Elliot “what ever” we trade but rather a single wave that has a fixed wavelength but with variable amplitude readings for each pair. You have seen my live trading occur every night in real time. Have a look at my trades I took last night to see where the Algo is limiting price at each swing. As I turn over 36% increase in equity every month, I think I understand how waves move and how to trade them. Take a look tonight, especially my AJ / EU / AU trades I take. Notice they don’t always match up with the Target...
Honourable & Respectable RickM ,

I have subscribed to your posts your explanation is crisp , accurate , to the point i would also appreciate that you be kind enough & post your exact entry exit process on both buy & sell side and if thats not too much Request you to kindly open a thread which we can follow & subscribe to get more insight to your trading analysis please
  • #659
  • Jan 3, 2021 5:13am Jan 3, 2021 5:13am
Quoting HumbleLearne
{quote} Honourable & Respectable RickM , I have subscribed to your posts your explanation is crisp , accurate , to the point i would also appreciate that you be kind enough & post your exact entry exit process on both buy & sell side and if thats not too much Request you to kindly open a thread which we can follow & subscribe to get more insight to your trading analysis please
Check out the thread "Advanced Volume Trading" where I posted two charts, the second chart should give you the idea how I trade. The concepts were developed from Georges TMA's which I later discarded.
A thread will appear later this year.
Trading thin liquidity at the boundary of the charts
  • #660
  • Jan 3, 2021 5:15am Jan 3, 2021 5:15am
Quoting RickM
A thread will appear later this year.
Am I glad to read this. I don't have to crawl into PFs cave.
Know what you trade
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