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Price action at the core = family members' discussion project

  • #1,441
  • Feb 7, 2021 10:04pm Feb 7, 2021 10:04pm
Quoting failinforex
{quote} I gonna agree with you on that because I am no expert in volume. I had try to watch volume from here - GBPUSD. So far I cannot see how best to incorporate into my system. But I'm still live recording it, and try to get something out of it. BTW if you look at GBPUSD now, it is at 70% of the time the market is in an equilibrium, try scalp now you will get wick up and down.
70% it rides market frequency and does not have enough volume to break free. It needs volume to expand price or lack of buyer or seller delta.
Trading thin liquidity at the boundary of the charts
  • #1,442
  • Feb 7, 2021 10:10pm Feb 7, 2021 10:10pm
Quoting BWilliam
{quote} I've tried it, can't make any meaningful connection.
Will I am no expert but am successful in incorporating volume into my trading strategies.

As I see it, there are three methods in trading with volume, I use mainly method 3.
Method’s 1 and 2 are more logical for most traders here, if there is any interest I may post on them.
Hell, I will probably start a thread on them later this year - perhaps - maybe - is it worth the stress
Trading thin liquidity at the boundary of the charts
  • #1,443
  • Feb 7, 2021 10:10pm Feb 7, 2021 10:10pm
Quoting RickM
{quote} 70% it rides market frequency and does not have enough volume to break free. It needs volume to expand price or lack of buyer or seller delta.
I'm gonna be a fool to be that buyer and seller now. lol
  • #1,444
  • Feb 7, 2021 10:17pm Feb 7, 2021 10:17pm
Quoting RickM
Will I am no expert but am successful in incorporating volume into my trading strategies. As I see it, there are three methods in trading with volume, I use mainly method 3. Method’s 1 and 2 are more logical for most traders here, if there is any interest I may post on them. Hell, I will probably start a thread on them later this year - perhaps - maybe - is it worth the stress
One thing I must say, of all the volume strategies posted on forum yours make sense. At least I understand, for the rest I have no idea which look like guessing. That's why I have not used volume at all.
Know what you trade
  • #1,445
  • Feb 8, 2021 1:04am Feb 8, 2021 1:04am
Quoting PeterCaleb
Here is an older example of using a Tick, V1 and V2 rapid vs gentle use of time as a measure of price approach ...... {image}{image}{image} And here's last night's setups using the same approach..... {image}{image} And here's another way to do it if you want/prefer to add stop orders into the mix. {image} I hope that helps. Peter
What is your view on this approach?
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Practice makes a person perfect
  • #1,446
  • Feb 8, 2021 1:09am Feb 8, 2021 1:09am
Quoting RickM
{quote} Will I am no expert but am successful in incorporating volume into my trading strategies. As I see it, there are three methods in trading with volume, I use mainly method 3. Method’s 1 and 2 are more logical for most traders here, if there is any interest I may post on them.
It will be very interesting! Please post them
Observer effect
  • #1,447
  • Feb 8, 2021 1:54am Feb 8, 2021 1:54am
Quoting RickM
{quote} Will I am no expert but am successful in incorporating volume into my trading strategies. As I see it, there are three methods in trading with volume, I use mainly method 3. Method’s 1 and 2 are more logical for most traders here, if there is any interest I may post on them. Hell, I will probably start a thread on them later this year - perhaps - maybe - is it worth the stress
Very much interested!!!! Please do post it!!!!!!!
  • #1,448
  • Feb 8, 2021 2:17am Feb 8, 2021 2:17am
Quoting simnz
{quote} What is your view on this approach? {image} {image}


simnz,

From what I can see in the pics and details, you're running an EA management utility. With the use of a 50 points distance, it will depend on the market and the conditions. It appears to have some settings that will be useful, however, the 2nd pic is a little small on the pixelation and so I cannot make out the details properly. But if its options look like they offer what I think they do, then you would have high level of quality to oversee your trades. I'm sorry if this is a little general but I'm not sure what approach besides this, you're trying to show. Yes I see the red lines, presumably for TF highs and lows or something like that. But I'm not sure what the intention is here.

Peter
Real Trading is not gambling.
  • #1,449
  • Feb 8, 2021 2:20am Feb 8, 2021 2:20am
If someone needs RickM to spell it out related to the use of volume, without just going through his posts from say, page 1 of this thread, then maybe you're just fishing for answers instead of just doing the work yourself. Maybe. Could be. Everyone wants the easy way out.

Peter
Real Trading is not gambling.
  • #1,450
  • Feb 8, 2021 2:55am Feb 8, 2021 2:55am
Quoting PeterCaleb
{quote} simnz, From what I can see in the pics and details, you're running an EA management utility. With the use of a 50 points distance, it will depend on the market and the conditions. It appears to have some settings that will be useful, however, the 2nd pic is a little small on the pixelation and so I cannot make out the details properly. But if its options look like they offer what I think they do, then you would have high level of quality to oversee your trades. I'm sorry if this is a little general but I'm not sure what approach besides...
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Practice makes a person perfect
  • #1,451
  • Feb 8, 2021 2:57am Feb 8, 2021 2:57am
Quoting RickM
{quote} Will I am no expert but am successful in incorporating volume into my trading strategies. As I see it, there are three methods in trading with volume, I use mainly method 3. Method’s 1 and 2 are more logical for most traders here, if there is any interest I may post on them. Hell, I will probably start a thread on them later this year - perhaps - maybe - is it worth the stress
You are more than welcome to explain these methods you are talking about.
I don't use volume so I never heard about any of these methods.
Cheers
  • #1,452
  • Feb 8, 2021 3:30am Feb 8, 2021 3:30am
Quoting simnz
{quote} {image}


Ok thank you now I can see things a little more clearly. Well, the basic infrastructure for entry is good. If you would like me to comment on your active options then it seems you have a good variety. Limits are always at a discount while stop entry is always at a premium because you're getting in after the initial scramble has begun moving. To have a good sense of what your options are when trading is essential for being relaxed while observing the market/s you trade. This relates to post 1421. OK. Every person is going to be a little different with how they determine what is worthwhile. Whether you use horizontal lines or something else, it comes down to what you're comfortable with. If you are trying to perform similar trades to post 1421, you need to monitor upper and lower extremes, remembering that capacity extremes (extreme of extremes) are worth more in the hand as their overall % for return comes down to break or reverse. As long as YOU understand your trade setup, then you simply decide how you wish to enter.

My pics on post 1421 probably look a little simplistic but that's because I'm doing the rest in my head. So if you understand your strategy, then yes this utility approach will do well. I'm not sure IF that is what you were posting about but I hope that helps.

Peter
Real Trading is not gambling.
  • #1,453
  • Feb 8, 2021 3:42am Feb 8, 2021 3:42am
Quoting simnz
{quote} {image}
Maybe a straddle trade on GBPUSD 8:15am candle. Statistic studies show that it has a 80% chance of it either break high or low for 10 - 15 pips, but we aim for 5 pips.
  • #1,454
  • Feb 8, 2021 5:21am Feb 8, 2021 5:21am
Quoting PeterCaleb
{quote} Ok thank you now I can see things a little more clearly. Well, the basic infrastructure for entry is good. If you would like me to comment on your active options then it seems you have a good variety. Limits are always at a discount while stop entry is always at a premium because you're getting in after the initial scramble has begun moving. To have a good sense of what your options are when trading is essential for being relaxed while observing the market/s you trade. This relates to post 1421. OK. Every person is going to be a little different...
I wanted to know whether using pending order than market order helps save spread costs or not.

I like your idea of updatimg your posts with a pdf so that readers dont have to go through all posts and remain focussed.
Practice makes a person perfect
  • #1,455
  • Feb 8, 2021 6:42am Feb 8, 2021 6:42am
Quoting simnz
{quote} I wanted to know whether using pending order than market order helps save spread costs or not. I like your idea of updatimg your posts with a pdf so that readers dont have to go through all posts and remain focussed.


simnz,

It can be a bit hard to answer that question about spread costs etc. I like to use pending limits to add into a pre-existing setup that gets moving with some momentum. And I like to use M1 or M5 to seek micro-pullnbacks when doing this. The spread can tend to jolt around at times and it also depends on your broker and the usual things like volatility etc. I use an ECN or strict standard account setup, so I can get a slight discount on my spread if I trade enough, but other people may not have that option. My suggestion would be either stick with the majors, or do what I tend to do sometimes, which is to add an extra ticket into your trades to help compensate for transaction costs. Another option - If you watch the chart for long enough and have a tick spread information indicator set up, you can observe, record and make note of WHEN in the process of a market movement, your broker tends to widen the spread and shrink it. This will help you see many things. Is the market at its extreme, or in the mid range or is it moving strongly towards a structural target .... when it widens or shrinks? All these things are relevant. I know, you were probably hoping for a simple answer. I suppose another option is to add the spread observation into your checklist etc when you evaluate a trade setup. I know many people who do this.

So saving on spread costs can be done in a number of ways but it should not be the only determiner of a trade. If you find, as I have at times, that looking to get in at the edge of the known market's edge, you find there isn't enough liquidity options, then you need to go to plan b ..... follow it and look for an opening to pounce on it. Or, just walk away and say "Naaaaah. I don't like it. Let's move on."

It's YOUR money so you can choose.

I hope that helps.

Peter

PS - Yes I hope the pdf makes it easier for people. I keep updating it as I do up a new post that's got enough information and is worth adding. So if people are finding this helpful then I will continue to do it this way.
Real Trading is not gambling.
  • #1,456
  • Feb 8, 2021 3:57pm Feb 8, 2021 3:57pm
Quoting BWilliam
Actually much more than a few milliseconds. {quote} First time someone write that so explicitly on forum. Yet traders are still using old stuck in dinosaur time technical analysis ideas with no update. 8G is here already.
Earlier I showed a member how the brokers Algo draw illusion on our chart. The first pic is the before illusion and the 2nd pic is the completed illusion. And nothing meaningful happens after that till NY close. And a new illusion begins again.

There's no way traditional technical analysis can explain for or predict that. Price action, candlestick pattern, supply demand, support resistance and whatever falls short. This is the reason why traders lose money or their trades go into deep drawdown.

https://imgur.com/bIzVuCl

https://imgur.com/EHQZMo0
Know what you trade
  • #1,457
  • Feb 8, 2021 6:22pm Feb 8, 2021 6:22pm
Quoting BWilliam
{quote} Earlier I showed a member how the brokers Algo draw illusion on our chart. The first pic is the before illusion and the 2nd pic is the completed illusion. And nothing meaningful happens after that till NY close. And a new illusion begins again. There's no way traditional technical analysis can explain for or predict that. Price action, candlestick pattern, supply demand, support resistance and whatever falls short. This is the reason why traders lose money or their trades go into deep drawdown. https://imgur.com/bIzVuCl https://imgur.com/EHQZMo0...
Tip:
If we look into using MS EXCEL. Build a machine learning AI.
EXCEL can handle many tasks - example correlation of stock data and USD.
Currency strength and which ever pair you are trading.


Google MS EXCEL machine learning (AI) and Using EXCEL in MT4

Great possibility.

btw yesterday Daily Expenses account

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  • #1,458
  • Feb 8, 2021 6:56pm Feb 8, 2021 6:56pm
Quoting failinforex
{quote} Tip: If we look into using MS EXCEL. Build a machine learning AI. EXCEL can handle many tasks - example correlation of stock data and USD. Currency strength and which ever pair you are trading. Google MS EXCEL machine learning (AI) and Using EXCEL in MT4 Great possibility. btw yesterday Daily Expenses account {image}
Machine learning - will never work when you have the same Algo’s programmed to trade against your position.
Trading thin liquidity at the boundary of the charts
  • #1,459
  • Feb 8, 2021 7:37pm Feb 8, 2021 7:37pm
Quoting failinforex
{quote} Tip: If we look into using MS EXCEL. Build a machine learning AI. EXCEL can handle many tasks - example correlation of stock data and USD. Currency strength and which ever pair you are trading. Google MS EXCEL machine learning (AI) and Using EXCEL in MT4 Great possibility. btw yesterday Daily Expenses account {image}
Lol, "machine learning" through Excel, yeah sure... against entire interdisciplinary teams of the world's best Quants (PhDs in Mathematics/Statistics, Physics and Data Science) in Hedge Funds with infinitely more capital and computing power resources, both for "traditional" quantitative+fundamental methods and actual A.I. R&D.
  • #1,460
  • Feb 8, 2021 7:39pm Feb 8, 2021 7:39pm
Quoting RickM
{quote} Machine learning - will never work when you have the same Algo’s programmed to trade against your position.
Yes. But if we use it to monitor the market. it is a great tool

Morning coffee money

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