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Price action at the core = family members' discussion project

  • #1,841
  • Feb 23, 2021 6:24am Feb 23, 2021 6:24am
Quoting PeterCaleb
Can you hhhhelp me Jim? From your friend Peter
Actually, yes I can.

1. Sarcasm should be avoided. It is the way young women and adolescent boys communicate. If you are going to be sarcastic, the wit should be sharp. The tone and tenor of your last post makes you sound like a scolded child. Your persona is that of a wise old retired trader well over 60. Bad sarcasm is a bad optic for what you are trying to portray. You should try to be "the most interesting man in the world".

2. Trading is a concrete exercise. This means that a good trader has concrete rules. You have presented no rules of any type. Abstractions do not help new traders as they need structure. Your communication is meaningless to someone starting out. Further posts from you should read: If this, then that, else this.

Now you can keep working on your post count and readers will begin to take you more seriously.

Regards
Jim
If you are good at something, never do it for free--Joker
  • #1,842
  • Feb 23, 2021 7:36am Feb 23, 2021 7:36am
Quoting jmn5611
{quote} Actually, yes I can. 1. Sarcasm should be avoided. It is the way young women and adolescent boys communicate. If you are going to be sarcastic, the wit should be sharp. The tone and tenor of your last post makes you sound like a scolded child. Your persona is that of a wise old retired trader well over 60. Bad sarcasm is a bad optic for what you are trying to portray. You should try to be "the most interesting man in the world". 2. Trading is a concrete exercise. This means that a good trader has concrete rules. You have presented no rules...
You summed it up.

We have nothing against the person. All we tried to do is to say put it in another way that we can understand. A medical doctor to another medical doctor can use the terminology used in their field or profession. But a medical doctor should try by all means to use a layman's term to a patient (who is not a professional in that field). A medical doctor should also communicate differently to a medical student as he/she develops. Same goes with trading. A professional trader should guide a struggling trader (a student) in a way that will be understandable to him/her.

Some of us will get there one day. When we ask questions it does not necessarily mean one didn't put any work. Some of us do work hard and possibly using the wrong tools or using the right tools in the wrong way. Just look at the frustration Bilal had after George's reply. And look at what he did after. Some of us are not lazy. We do work hard and we are possibly touching the wrong places.
  • #1,843
  • Feb 23, 2021 5:21pm Feb 23, 2021 5:21pm
Quoting Pumi
{quote} You summed it up. We have nothing against the person. All we tried to do is to say put it in another way that we can understand. A medical doctor to another medical doctor can use the terminology used in their field or profession. But a medical doctor should try by all means to use a layman's term to a patient (who is not a professional in that field). A medical doctor should also communicate differently to a medical student as he/she develops. Same goes with trading. A professional trader should guide a struggling trader (a student) in...
Peter does not want you to understand, Pumi. He wants to be vague. He wants to be mysterious. He wants you to think he has all the secrets so that you will eventually pay him to tell you. This is how stealth marketers work. I have given you a method to not blow up. Now, all that is left is for you to do is find the timeframe that makes you comfortable, the entry method that makes you comfortable, the hold time that makes you comfortable, and to make sure your risk reward is at least 1.1 to 1. Obviously, the bigger the risk reward ratio, the better off for you. You will make mistakes, and you will have days when the market you trade decides to not move. Most traders make their month and their year on only a few trading days. The biggest part of your job is to show up, and to be consistent with your rules. Good luck with your endeavors.
If you are good at something, never do it for free--Joker
  • #1,844
  • Feb 23, 2021 7:04pm Feb 23, 2021 7:04pm
Spoken like a true speculator. Bravo.

Pumi, the biggest problem with people like Jim, is they "think" they know who they're talking to. I will NEVER promote or sell ANYTHING EVER. The accusations towards my character and motivation are so laughable.

The main issue here, is that for beginners, they don't know who or what to trust or rely on. SO ..... learn how to think to the best of YOUR ability so that YOU can make the final decision about ALL of us.

This is why I talk about the things I do. It's not the "strategy" or "tactics" etc you are missing, it is the ability to think your way through any problem or situation instead of being some blind duck walking through a mine field.

THIS is why fools like Jim think they "know" me because they don't live in the real world where "Forex Factory" means NOTHING WHATSOEVER. It's not even a tiny "blip" when it comes to reality and the real reality of trading.

People like "Jim" want everyone to be carbon copies of each other so it makes it easier for him to do whatever it is he's doing. (Whatever that is)

If George had NOT said to Bilal what he did, would Bilal still have gone down the road he did to learn WHAT he did?

Jim doesn't know the answer and neither do I. But Bilal does.

Everything "Jim" is saying is "fair enough" for a person who just wants to speculate and "hope" that everything works out fine.

If you really want to trade you need to be able to think, not just mimic what others do and then "hope and pray" it all works and continues to work. And keep hoping and praying that while you're chasing your profits, the world doesn't fall apart. Then if it does, to see all your efforts go to waste.

There's no excuse for chosen or deliberate ignorance in this day and age. But this is what "Jim" is offering.

I don't need people's money or "attention". But people DO need to relearn how to think. And then, people will not even need to have these conversations because they will see each person's motivation for what it really is.

IF you have done the work to learn many of the basics, I will answer questions. I have said this before. I'm not like most people here. AND any of the people who would be like me HAVE LEFT. Now why is that???

Socialites like Jim are exactly as they appear to be. To a person who can think and observe, these people prefer status and position to common sense.

But I'll leave it for people to decide ...... after all, it's your money and time. It doesn't affect my life whatsoever.

Peter
Real Trading is not gambling.
  • #1,845
  • Feb 23, 2021 9:57pm Feb 23, 2021 9:57pm
Attached Image (click to enlarge)
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BUY LOW SELL HIGH!.Easy?Simple?..How we can do that repeatedly?

Sell at TARGETS high..Buy at TARGETS low? Really? That easy? So it is literally buy at low and sell at high.
Supply and demand?When price is to high nobody want to buy,so we sell at high?When price is to low,nobody want to sell,so we buy at low?Supply demand function?

Then, which low to buy?Which high to sell? This high/low is the highest/lowest relative to which high/low so I can buy/sell at high/low?

Some says market trending 30% of the time and remaining 70% for range-bound condition.What can I do with this statistics/info?
Should I focus more on the 70% rather than 30% or both.

So where to exit?

My head is spinning.
Close Trade At Profit
  • #1,846
  • Feb 23, 2021 11:22pm Feb 23, 2021 11:22pm
Quoting FinInsTrader
{image}BUY LOW SELL HIGH!.Easy?Simple?..How we can do that repeatedly? Sell at TARGETS high..Buy at TARGETS low? Really? That easy? So it is literally buy at low and sell at high. Supply and demand?When price is to high nobody want to buy,so we sell at high?When price is to low,nobody want to sell,so we buy at low?Supply demand function? Then, which low to buy?Which high to sell? This high/low is the highest/lowest relative to which high/low so I can buy/sell at high/low? Some says market trending 30% of the time and remaining 70% for range-bound...


Fin,

The simple answer to that question is this - what are your goals? Hihihi and don't say "make money" !!

First - realize that S&R and S&D are just concepts. They are not etched in stone. Regardless of what people say. You need to be flexible with this. Next, write ALL that stuff done. Don't try and work out everything in your head all at once. Trading is about relationships. So write down and later you can see the connections for each segment.

Your job is to look at a chart and make note of what makes sense to you. What pops out at you as you look? Do you prefer to ambush the market as it breaks above or below previous high or low for a reversal? Do you like to "flow" with it as a momentum trend trader would do it? Only you can answer these queries.

Forget what everyone says and just focus on those questions. THEN, you can concentrate on HOW you want to setup your view. Everything is a tool when used properly.

The LTF's thrash around a lot to try and do a traditional trend trade with them. So the HTF's offer better return over time for that style. Eg. H1 or higher.

Are you an "in and out quick" type of person? Maybe a scalp and small swing style would suit you?

There's something about looking at a blank chart and then just putting a standard 40 EMA or SMA on it and just look. Not at the details but the way it flows and now make note of the sorts of repeat behavior that happen. NOT patterns but behavior. Here you can watch out for generic structure that happens all the time. Generic structure is something that you can see in every market or TF. See how it moves then pulls back then returns and moves on. How many times does it pull back to its edge before finally moving on to finish forming those reversals you see in your pic?

Would you prefer to setup a fixed view so you can just use a net to do your trade? This is where you have your chart setup so you do 1 or 2 trade setups over and over again as the market presents them. This would give you a higher risk-return policy option but it requires more patience.

Also, a simple effective way to calibrate your approach, is to use structural correlation. Eg - Today a few of the Aussie pairs synchronized for a quick response off an over-extended high for a simple 20 points. Look at AUDJPY, AUDCAD and AUDUSD on M30 and see the 2 periods of over-extension. They're larger than usual periods and the periods are all bullish. A classic pump and dump. Then when you drop to M5 or M1 you can see the "roll over effect" the market activity makes as it reverses and then moves on.

I use structural exits but that's just what works for me. After a bit of practice your mind will start to use its foresight to "see" the better areas for exiting. Usually where larger periods have previously formed or where there's congestion/consolidation on that TF. You "CAN" use an RSI 2 for entry and exit assistance as well with a 3 period EMA on the RSI. Go down here and look at the Relative Depth Perception pic I've posted. It's all there.


Attached Image (click to enlarge)
Click to Enlarge Name: Relative Depth Perception.png Size: 57 KB

Attached Image (click to enlarge)
Click to Enlarge Name: GBPJPY TODAY 3.png Size: 47 KB



Also to structural correlation, someone asked me about currency correlation. The whole thing of this is based on whether you use internal or external data to determine what is "positively" or "negatively" correlated at THAT moment. With this area, if I am using internal data (as per platform chart) I use the indicator below. It's simple, effective and flexible. Please spend some time getting to know it and how it thinks and works before trading with it. If you use a multi symbol RSI setup with this correlation indicator it'll help immensely with giving you clear signals of when the market you want to trade is primed and ready.

USER Be Warned - Not my indicator so use it wisely. Always double check your currency correlation readouts before sending any orders to market and you can use the multi symbol RSI to help with this. I personally don't have the multi RSI but I know they exist. I use a multi symbol changer indicator so the RSI I have there just changes with each chart change. I have inserted these below. These are for mt4 pc. Not sure if they work with your phone. I don't use a phone for trading.


Attached File(s)
File Type: ex4 Currency Correlation B.ex4   31 KB | 335 downloads

Attached File(s)
File Type: ex4 Symbol changer profit display v5.1.ex4   41 KB | 317 downloads




I hope that helps.

Peter
Real Trading is not gambling.
  • #1,847
  • Feb 24, 2021 1:56am Feb 24, 2021 1:56am
Quoting HeyYou
{quote} the way I see it... buy low sell highs works for long term trading.. it does not mean shorting highs but buying at a low price and sell at a high price. the opposite is meant for short term trading (momentum).
Hi HeyYou

Sell high / buy low is how I make my weekly wage - if executed on any time frame that surrounds the order book.

Its the only time frame periods that is guaranteed to be successful in 93% of occasions -
I repeat this statement here time and time again, that's passive limit orders are in short supply so WHY not trade against the big players and take them to the cleaners.
Trading thin liquidity at the boundary of the charts
  • #1,848
  • Feb 24, 2021 3:18am Feb 24, 2021 3:18am
Quoting RickM
{quote} Hi HeyYou Sell high / buy low is how I make my weekly wage - if executed on any time frame that surrounds the order book. Its the only time frame periods that is guaranteed to be successful in 93% of occasions - I repeat this statement here time and time again, that's passive limit orders are in short supply so WHY not trade against the big players and take them to the cleaners.
Your statements are more of rocket science. Kindly clarify a bit

Regards,
Mbae
  • #1,849
  • Feb 24, 2021 9:45am Feb 24, 2021 9:45am
EU chart

Shorts off the top this morning, clear as day.

But I post this to illustrate what I mentioned in a previous post, the 50% break of support/resistance to the next level.

Got 30+ PIPS on way down, then took my 10/12 for another +12.
Attached Image (click to enlarge)
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  • #1,850
  • Feb 24, 2021 12:35pm Feb 24, 2021 12:35pm
Quoting BWilliam
The best way to place entry in a catch a falling knife trade is to use a bot to execute and manage the trade according to trend line drawing idea. {image}
Or simply enter at the next support zone
  • #1,851
  • Feb 24, 2021 1:36pm Feb 24, 2021 1:36pm
Quoting PeterCaleb
"Forex Factory" means NOTHING WHATSOEVER. It doesn't affect my life whatsoever. Peter
And yet, you spent 430 words to tell us that it does not matter.

You lie.

If something does not matter, people do not spend the mental time on a reply, nor the energy to type and post it. If you were not trolling for sheep, you would not be here, but you are. Your own words betray you Peter.

You very much care, and your actions show this.

Quoting FinInsTrader
{image}BUY LOW SELL HIGH!.Easy?Simple?..How we can do that repeatedly? Sell at TARGETS high..Buy at TARGETS low? Really? That easy? So it is literally buy at low and sell at high. Supply and demand?When price is to high nobody want to buy,so we sell at high?When price is to low,nobody want to sell,so we buy at low?Supply demand function? Then, which low to buy?Which high to sell? This high/low is the highest/lowest relative to which high/low so I can buy/sell at high/low? Some says market trending 30% of the time and remaining 70% for range-bound...
Stealth vendors like to complicate things.

Markets will always test the prior days high or low.

Decide how many pips you want to make and multiply that by 3. This is your minimum range.

Buy when you see a reversal in the lower third of that range.
Sell when you see a reversal in the upper third of that range.

Stay consistent.

Educational purposes only and all that.

Jim
If you are good at something, never do it for free--Joker
  • #1,852
  • Feb 24, 2021 3:15pm Feb 24, 2021 3:15pm
Quoting jmn5611
{quote} Stay consistent. Educational purposes only and all that. Jim
Stay consistent, educational....

Absolutely, an exercise I've recently done proved the value in that, I decided that as a learning exercise, I would do exactly the same day in day out no matter what the result was, I had an extensive run of losing trades, and what I learnt from that has been extremely valuable, now if my aim would have been to make money, then I doubt if I would have encountered such consistency, and then to use that consistency to turn that knowledge it into winning consistency.
  • #1,853
  • Edited 5:21pm Feb 24, 2021 5:00pm | Edited 5:21pm
Quoting mbae
{quote} Your statements are more of rocket science. Kindly clarify a bit Regards, Mbae
Liquidity on a chart right now at 8.46am is Passive limit orders. This accounts for a tiny amount of the total liquidity that gets dumped on the market every day.
We are talking about 0.03% of the total daily liquidity on the chart at this very moment.
Then considering some of these limit orders are placed in resistance zones above H1 / Daily candles, many of these limit orders are too far away to enable interaction with current price.

What are we left with now. About 0.001% of daily liquidity or probably much less within the order block zone. This is all that is available at 8.46am and it sits in a cluster no more than 15 pips up or 15 pips down from current average density.

Therrfore once price spikes up 15 pips on average on GBPUSD, it hits thin liquidity and is forced to pullback to the mean. Lack of liquidity is a major issue for the market makers and they normally avoid moving through the thin liquidity zone due to massive expenditure.

If volume doesn’t increase at this boundary, they normally pullback price, therefore we can trade here and slaughter them.
All we have to do is two things.
A.. Monitor the volume as we enter to ensure it doesn’t increase in density
B.. Check we are not trading a “Slider”, get out if we are.

Cheers
Trading thin liquidity at the boundary of the charts
  • #1,854
  • Feb 24, 2021 5:54pm Feb 24, 2021 5:54pm
Quoting mbae
{quote} Your statements are more of rocket science. Kindly clarify a bit Regards, Mbae
Seems like Rocket science, however I have been lucky enough to talk to Rick and see him trade on multiple occasions.... Rick sees the market in a sine wave, I adapted my own to a less sophisticated channel with a mean zero point it stretches from. Limit orders cant move price so Im always looking out for the aggressive market order density at my boundaries and stay out if it doesnt dry up. Along with the dreaded slider where it just sticks to my outer edge and runs parallel to my mean. Rick has been a great help and I implore people to read his posting history.
  • #1,855
  • Feb 24, 2021 6:57pm Feb 24, 2021 6:57pm
I'll say it again for the silly people here, I'm not marketing anything.

If someone wants to become a real life trader (it's not a status label but simply an identifiable word) you need to see how "divided" all these silly people are, both in their view on things as well as their thinking.

My suggestion is this - take 30 people's opinions of "how to trade", write them on a piece of A4 paper and make sure that no 2 are alike.

Now grab a blank chart and "map" out each person's trade style according to the way they would enter and exit.

Why do this?

Because most people I see here live in a "bubble". They've convinced themselves that there isn't a world outside this thing called trading. How ridiculous. If, going into the future, you want to have a long term career in trading, then you need to have flexibility. Otherwise you end up like most of the fools on this site. Talking about stuff that has very little staying power.

You've heard this one right? - "It works great until it doesn't."

It's truly hilarious just how stupid some of these people think others really are.

If someone tells you to "only" be a trend trader or a scalper or a momentum trader, then you KNOW they're NOT a trader. They are a "systems trader". So it won't matter what the market is SCREAMING at them and showing them, they're still going to just keep doing what they do. That to me is literally INSANE.

A speculator "doesn't care" what's happening in the world. They just keep assuming that real life won't affect them ..... until it does.

Whatever screwed up thinking you have in your head when you enter the world of trading is what you are stuck with. So all of it will affect how you see things. Only a moron would ignore this. You'd be better off just giving your money away to charity than trying to trade. At least that way it'd do some good.

I have an idea - how about - buy low, buy higher then cash out and SIMULTANEOUSLY sell into the reversal.

Mmmmm. No. That sounds like WORK. EFFORT...... Thinking.

If, during your normal day of living, your thinking is operating a let's say, a 4 out of 10, BUT then you begin your trading for the day. Now you need to start operating at an 8. Q - Why aren't you simply operating at an 8 all the time?

And that's the problem that I see with most people here. You don't want to bridge that gap BUT you feel entitled to the benefits of healthy trading. See how that might seem a little crazy??!!

Trading is not some "sub-culture" thing. It's simply a means to turn your time and energy and $1 into $2 or more.

So to anyone who wants to learn to trade beyond all this rot, you need to understand that if you don't excel beyond all these people, then you will get swamped by them and then you're done. Just another number that tried and failed.

NOW, do you see any web link or some other type of promotional add on? Am I asking people to like what I say or agree with me? No. Just real life common sense.

Trading is a self starter activity. You don't even need to interact with these fools to learn IF you are committed to YOUR learning and NOT their silliness and bullshitting about stuff that is solely within their "bubble world". So my suggestion would be step a long way back from these people and do your own due diligence. Stop being so childish and weak willed. Make the decision to either learn or don't and then stick to that decision.

This is goodbye from me here. Only the people who are serious about learning and their trading will realize at some point, that 1000 blind fools do not equal 1 observant and knowledgeable person. The main problem with most people here, is you are too daft to see and look around you. The people who are still trading long after most of you are either dead or have long given up trading, will be the ones who have matured. Simple as that.

An immature wanker will always be the one who believes there's nothing real that needs to change and improve. So enjoy your bubble thinking. I hope the coming future doesn't abuse your families too much.

Peter
Real Trading is not gambling.
  • #1,856
  • Feb 24, 2021 7:06pm Feb 24, 2021 7:06pm
Quoting PeterCaleb
This is goodbye from me here.
You can't be serious Peter. I got addicted to your daily stand up comedian act. You provide so much fun and entertainment that keep me wanting more.
Know what you trade
  • #1,857
  • Feb 24, 2021 7:29pm Feb 24, 2021 7:29pm
Quoting BWilliam
{quote} You can't be serious Peter. I got addicted to your daily stand up comedian act. You provide so much fun and entertainment that keep me wanting more.
Hey BW

I bet you $100 bucks Peter will post again here in this thread in March.
Do you want to take the bet?.

Better odds than trading.
Trading thin liquidity at the boundary of the charts
  • #1,858
  • Feb 24, 2021 9:19pm Feb 24, 2021 9:19pm
Quoting RickM
{quote} Hey BW I bet you $100 bucks Peter will post again here in this thread in March. Do you want to take the bet?. Better odds than trading.
No one is going to take that bet Rick, we are not going to just give you money! Those types always come back. Might be under another alias, but he will be back. He did not get enough suckers. This is the "I'm leaving" stage of the routine, a last attempt to see how many he can get through PM's.
If you are good at something, never do it for free--Joker
  • #1,859
  • Edited 11:02pm Feb 24, 2021 9:43pm | Edited 11:02pm
FF is being used by all kinds of persons including those who are on ego trips or those looking for effortless success formula or those enjoying social chit chat or those trying to find ideas or leads for business activity.

In my case, it is for storing my notes and get different perspectives on various efforts being made mostly by a few selected non traders who play trading video games .

Actually, for me it is video game players who have provided a lot of value to my discretionary trading learning.

Mainly by suggesting different kinds of unconventional ideas for indicators and EAs and telling coders on how to go about them. The way they structure is aimed at capturing repeatable patterns.

The more I learn about their ideas, the more my brain is able to absorb subconsciously and register in my mind repeatable trading patterns and the strong probabilities of that happening.

It is enriching my discretionary trading skills and ensuring I don't depend for getting entry and exit signals on a Guru, indicator, style or system that is not produced by my brain on demand.

Trading for me is entirely own thing to do it. Practice, practice and Practice is what is needed. Nothing beats trial and error ways.
Practice makes a person perfect
  • #1,860
  • Feb 24, 2021 9:47pm Feb 24, 2021 9:47pm
Quoting PeterCaleb
I'll say it again for the silly people here, I'm not marketing anything. If someone wants to become a real life trader (it's not a status label but simply an identifiable word) you need to see how "divided" all these silly people are, both in their view on things as well as their thinking. My suggestion is this - take 30 people's opinions of "how to trade", write them on a piece of A4 paper and make sure that no 2 are alike. Now grab a blank chart and "map" out each person's trade style according to the way they would enter and exit. Why do this?...
Ah, now I feel bad. I think I helped to run him off. Hey Peter, in your next incarnation, just start your own thread, build your own cred, and then you won't need to worry about people like me because you can just simply ban me from your thread. Don't ride others coat tails, be your own tailor.

Regards
Jim
If you are good at something, never do it for free--Joker
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