Disliked{quote} 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 JimIgnored
Price action at the core = family members' discussion project
- #1,862
- Feb 25, 2021 12:30am Feb 25, 2021 12:30am
- Joined Jan 2016 | Status: Trader | 2,965 Posts
{quote} 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
The hilarious part is the pdf he made out of his own utter BS
.
on a postive roll...
- #1,863
- Feb 25, 2021 12:45am Feb 25, 2021 12:45am
- Joined May 2010 | Status: Straight line Fest | 3,194 Posts
EU15
I'm just sharing my observations and my own learning process here, it may help someone...
Now a little about psychology.....
I realised a couple of years back my brain is ADD (Attention Deficit Disorder), I won't go into the definition it's well documented on the net.
So... problem is, it's probably one of the worst types of psychological make up to go trading with, impulsivity, distraction, etc, but when we focus on one thing, it becomes intense focus, hence my endurance on this journey, it was last year I realised I need to break all this down into little pieces (how to eat elephants..) and give the same focus as I've done on the whole thing to each and every element of my trading, and then I will put the whole picture together.
And so to the chart, I'm illustrating this 50% move again.
It went way past in the end this morning, but there was a reaction at that level, there 'always' is, just as there are reactions on lots of Fib levels, it's working out what to do at these levels that's important... of course.....
So.... did I take my 10/12 trade on that? Yes I did, and I'm quite pleased that I took that loss, so I'm looking at the chart, I'd be shorting against a strong 'trend', the HTF's show a clear gap, this is a trade I do not want to take on, but I do.... why? because this is my current exercise, at all times I make sure I'm disciplined, i.e. following what I set out to do at that point in time, and this is my current focus levels, then when I've learnt what I think I need to, I will move on to another element of my trading.
So far I've done....
Using 1min TF for entries.
Targets, i.e. where the market is heading.
'Tower' patterns...
Stop runs.
And now as I said, learning how to identify significant levels.
I've been at it years off and on, I don't mind admitting, trading is hard for me, might be easier for others, but this is the process that is paying me dividends, I seem to be consistently breaking even when I'm not thinking about the account balance and completely focus on the element of trading that I'm doing.
Scored +12
Now these are the trades that I regularly win now, certainly more than half, so they are making a profit for me.
So you may ask, how exactly am I so sure that, that trade was a winner....
You can talk about liquidity, stop runs, smart money vs dumb money, accumulation, etc. etc. etc......
But if you were to ask me.... you can take the piss out of me of whether you would bother or not
My answer is, look at it, it's a pattern I recognize in the context I see it in, I really can't define it totally clear, just to say look at it, it's square across, so it'll range, it's at the end of a run, I've seen it time and time again, and I know this and I'm confident in this because that's the only thing I focused on for a whole 3 months.
So today -10 +12, if I managed to do that everyday, I'd be in clover
- #1,870
- Edited 9:03am Mar 1, 2021 8:52am | Edited 9:03am
AUDUSD
guys, is this a good short entry according to george's method?
Herd resistence with 2 H1 candles (red line) broken, target that i was expecting wasnt reached (blue line) but there was previously another top (that i didnt mark on this chart) which has been respected for now, first tatget (green line), my 1 min tma was in extreme zone.
Let me know if im getting it right, thanks
ah, ADR was 79 on 74
guys, is this a good short entry according to george's method?
Herd resistence with 2 H1 candles (red line) broken, target that i was expecting wasnt reached (blue line) but there was previously another top (that i didnt mark on this chart) which has been respected for now, first tatget (green line), my 1 min tma was in extreme zone.
Let me know if im getting it right, thanks
ah, ADR was 79 on 74
- #1,871
- Edited 9:24am Mar 1, 2021 9:01am | Edited 9:24am
Another +12, they are there, low hanging fruit.
5 out of 6 winning trades, 80%+ winning trades, just takes practice practice practice, and then when you've practiced you might start thinking you've learnt something, then you put what you think you've learnt into practice and yes, practice practice practice, then put all that into practice and then practice some more, it's a grind, it's tedious, it's boring, it's frustrating.......
That's the way I see it, why do people go all 'guru' about it, stuff like 'you have to find it within you', 'it's all about psychology', ' you need to understand yourself', 'there is no 'system''.
Well yes such is maybe, but plain terms....
Find it within you - Persist, keep at it, stick with it, don't 'believe' in yourself, identify your strengths and weaknesses, like I'm terribly impulsive, it's taken me a whole load of time to iron that out of my trading, I naturally jump from idea to idea, absolutely fatal for trading, but it does have benefits of being boundless, but boundless out of control is no good, train yourself, it takes time, weeks, months for every individual aspect.
No System
Well no, there kind of isn't, but I have found the most success by learning how to learn as in, I will learn what I need to learn for myself.
- #1,872
- Mar 1, 2021 9:14am Mar 1, 2021 9:14am
- Joined Jan 2020 | Status: Membership revoke | 2,332 Posts
AUDUSD guys, is this a good short entry according to george's method? Herd resistence with 2 H1 candles (red line) broken, target that i was expecting wasnt reached (blue line) but there was previously another top (that i didnt mark on this chart) which has been respected for now, first tatget (green line), my 1 min tma was in extreme zone. Let me know if im getting it right, thanks
Don't sell a rising market, don't buy a falling market.
Translated don't sell when the price is nice juicy high price. Don't buy when price feels like dirt cheap. That's an amateur mistake.
The trick is to make a small change in your mindset.
Think of trading as buying and selling bananas.
Buy into a rising market, sell into a falling market.
You don't care about the actual price itself, ie. the asset value.
The problem then is when and where is the price rising or falling. You got to figure this one problem out.
Think deeper a little, does price at George's targets signal rising or falling banana value? Use your logical common sense. I'm sure everyone is able to figure this out.
Know what you trade
- #1,875
- Mar 2, 2021 3:07am Mar 2, 2021 3:07am
- Joined Jan 2020 | Status: Membership revoke | 2,332 Posts
Know what you trade
{quote} I give real in the face feedback telling it as I see it if that's what you're looking for. Don't sell a rising market, don't buy a falling market. Translated don't sell when the price is nice juicy high price. Don't buy when price feels like dirt cheap. That's an amateur mistake. The trick is to make a small change in your mindset. Think of trading as buying and selling bananas. Buy into a rising market, sell into a falling market. You don't care about the actual price itself, ie. the asset value. The problem then is when and where is the...
Its astounding that you got the overall direction of AU correctly. Loppo also got his profit from the sell trade, so congratulatory to him on that as well
.When you meant you don't care about the actual price itself - I believe what you are trying to say is that, as long as you make money while trading, the pricing doesn't concern you at all. To traders who view the pricing, they would be more prone to psychological effects (i.e greed and fear) enticing traders in/out of position/stop hunts while the single algo paints the illusion of the market? Do correct me if I am wrong.
Also, the main problem as you've mentioned are the "WHEN" and "WHERE". That's the golden nugget. I also believed that any TRUE trading edge found must be protected as much as possible. So, can you perhaps share some guidance for us traders here or a hint on how to identify the "when" and "where"? We, the less experienced traders, will certainly be thankful - to traders like you - that we have guidance here in these forums.
Thanks & Cheers!
Zyzel
Always Learning. I am no Master
- #1,877
- Edited 9:26am Mar 2, 2021 9:12am | Edited 9:26am
- Joined Jan 2020 | Status: Membership revoke | 2,332 Posts
Know what you trade
- #1,879
- Edited Mar 9, 2021 10:39pm Mar 8, 2021 11:49pm | Edited Mar 9, 2021 10:39pm
I've been going through George's main thread and I like his idea of Targets.
This is what I have learned so far about what he's talking about, I think.
Broker based price gap trades. The markets hate inefficiency of price. Each broker generates its own 'gap through' market levels. Forget post weekend Sunday night-Monday morning gaps. This is about intraday and mid-week gaps.
This is what I have learned so far about what he's talking about, I think.
Broker based price gap trades. The markets hate inefficiency of price. Each broker generates its own 'gap through' market levels. Forget post weekend Sunday night-Monday morning gaps. This is about intraday and mid-week gaps.
- #1,880
- Mar 9, 2021 11:00pm Mar 9, 2021 11:00pm
Outside gaps vs Inside gaps.
Inside gaps are any two periods that interlock (Possess an excessive overlap) on close to open price instead of close and open lining up to be the same price. Outside gaps are the price gaps that create trade openings and are what the market and or broker needs or wants to fill.
Inside gaps are any two periods that interlock (Possess an excessive overlap) on close to open price instead of close and open lining up to be the same price. Outside gaps are the price gaps that create trade openings and are what the market and or broker needs or wants to fill.