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The brutal truth of day trading

  • #361
  • Apr 25, 2021 9:17am Apr 25, 2021 9:17am
All I can say is this: Trading is easy as long as you keep it simple and stick to the rules. My problem is I'm not patient enough and got caught up in trades which wasn't ripe as yet.
My system is very simple, you need two ma's and a W (bottom) or M (top) formation consisting of 6 bars. The last 2 bars of the formation is critical!
Avoid trading when volumes are low and when economic data is coming out.
Don't be greedy, take 10p and close the trade.
  • #362
  • Apr 25, 2021 9:32am Apr 25, 2021 9:32am
Quoting triphop
{quote} I bet you can too Well op you can have this for free too. This place is exhausting because you've three camps - those that say it can't be done, those that say nothing exists, those that'll bamboozle you with maths way above your paygrade to make you think you're probably too dumb to get it. So to the odd outlier who's really trying to crack this, let me spell this out in all the noise. You can't trade unless you have concrete structure in place. Not a trading plan. A structure of the market. Your plan is based around the structure....
In total agreement with you.
  • #363
  • Apr 25, 2021 12:53pm Apr 25, 2021 12:53pm
Quoting triphop
{quote} I bet you can too Well op you can have this for free too. This place is exhausting because you've three camps - those that say it can't be done, those that say nothing exists, those that'll bamboozle you with maths way above your paygrade to make you think you're probably too dumb to get it. So to the odd outlier who's really trying to crack this, let me spell this out in all the noise. You can't trade unless you have concrete structure in place. Not a trading plan. A structure of the market. Your plan is based around the structure....
The "exhausting'' It was a tip of the iceberg when you mention it as far back as page one, the following pages is the real deal
THE TRUTH IS SIMPLE,ACCEPTING THE SIMPLICITY OF THE TRUTH IS WHAT IS HARD
  • #364
  • Apr 25, 2021 5:16pm Apr 25, 2021 5:16pm
Quoting GEfx
{quote} Peter, in responding to my question, you have written down lots of words, made lots of observations, and brought up lots of facts. Unfortunately, most of your response does not relate to the issue you raise and the question I asked about that issue. And we’ve now circled back to it in this sentence from your last post. I categorize your statement as a blinding flash of the obvious. My question remains: why should any trader on the earth, care about debt liquidity of banks when entering a forex trade? You said they should. Why? And from my...


GEfx,

Don't get me wrong here I'm sure you know what you know. I'm not making any assumptions. You said it yourself, you don't understand. It's an all encompassing environment. This is why I gave MORE information than just a one sentence, mindless answer. To begin here, you need to let go of your definition of 'bank'. I think it's distracting you from seeing what is here.

'Bank' Debt Liquidity is an area of financial operations that forms a type of analysis that allows a private investor/trader/speculator/other to see what's NOT on the order flow, the price chart and the many other ways people try to evaluate their market of choice. I'm sorry, I really thought the reason was obvious - Silly traders only deal with what's in front of them, as THAT is what they're "taught to do". I don't care if you're a bank trader or a private equity trader, or a retail trader. I'll say it again - Futures Data is INDICATIVE not substantial. I'm sorry, if you have worked at the places you say you have, then you obviously were not around for this lesson or activity of day to day investigations.

The connection is this - The commerce law of branched equity (Either corporate, government or private) states that under certain asset classifications, each capable participant must be categorized. And further, a record be kept of said activities, either a portion or in full. However, Spot Fx, AKA OTC Forex trading, does not have this requirement because at present the practice of foreign exchange is decentralized, covering too many branches of operation - commercial, benevolent charity, private and government.

This is why people get a COT report, why Futures Data is sample recorded and why there are ways to distribute and receive that data. And why some market asset classes are ahead of others in the organizational areas mentioned.

Why should a trader have any interest in Bank Debt Liquidity?

Firstly, it's not their money they're playing with when they place a trade. It only becomes their money once they withdraw said money to their standard personal banking setup eg savings account etc THEN spend it. The spending part of this activity is the consumer's ONLY course of ownership of any money. This, under the jurisdiction of consumer law, means that while the money is in the trust of 'the bank', it's their responsibility BUT not always their liability to hold, record and protect specified funds. Yes GEfx, you 'may' know this but many people do not so it's necessary to explain it.

Because many people do not understand the money world, they just assume their money is their money. So, in turn, they just go along placing trades and speculating - YES, it is speculating if you are not working with an understanding that at any time, severe changes can roll out and affect the 'norm'. These changes do not require a referendum, any kind of "vote" to occur or any permission given by the general public.

So for people who merely speculate, despite how they dress it up, it's still just speculating.

So now, I have explained it simply enough so a bank person can understand it. I hope. Value is not directly and solely in the order flow of data, nor on the price chart.

People need to understand that for most people, you're just standing on the fringe of a very large industry.

If I was starting out in trading and reading this, I would ask 2 Q's ....

1. Am I just playing a game where I don't truthfully value that $1000 I deposited into my trading account?
2. WHY would I keep doing what everyone else is doing when it doesn't work?

"Peter, how can you say it doesn't work when I am making money from my trading?"

Because when fruits are abundant people get fat and complacent. And in doing so, everything else keeps moving while they sleep. So when bad things happen, they're not prepared. Most people assume the party will go on forever.

Bank Debt Liquidity Approach

0.5-5% of Order Flow for Large Cap Participant is sampled and categorized in-house constantly while open order performance is in-play at market. This level is individually determined by each entity's requirements for accountability and transparency. I'm sorry I don't remember the publicized requirement eg The COT Report, I guess people can go look that up. At last check a while ago up to 40% cap fulfillment for Debt Liquidity. For the average Joe, think of "Debt" here as you would if you were hedging a losing position - placing a buy order to stabilize a losing sell order that is 'running away'. It's a form of averaging rather than just using a preset Stop loss.

So, you know the sample rate and you know what is mandatorily held.

By knowing how much is seen on the market readout tape (Volume Order 'flow'), one can assess what is ACTUALLY unused. By assessing the unused portion, one can determine the areas of market price where this participant will drive price BEFORE the orders hit the market. I have given all the required information here to do so. I'm not going to just tell people the equational answer - it's important for people to use their maths skills to think through the process THEN they will know they have learned and it will stay with them for life.

Yes base data (eg - Futures Data - the type that is used by people like RickM and myself and others) can be used to confirm this however, from what I have noted, most people are using the data poorly, or maybe I should say - inefficiently.

There are always two types of traders - responsive and reactive. The above details proves this to be true.

For people who just think of trading as a game, remember, there are many in this world who take it EXTREMELY SERIOUSLY. And I do mean extremely.

I am confident that this answers the questions raised. But, if not, well, let's see what happens.


I hope this helps.


Peter
Real Trading is not gambling.
  • #365
  • Apr 25, 2021 5:40pm Apr 25, 2021 5:40pm
For the skeptics or know-it-alls, or the people who genuinely want to learn properly ..... Happy reading .....


https://www.investopedia.com/terms/l/liquidity-coverage-ratio.asp

https://www.bis.org/publ/bcbs238.pdf


NB - My calculations use a 40% cap but the LCR is using different parameters to me so the %'s are different. Remember Day trading is just two words put together. There are in fact several incarnations of a DAY TRADE. It is always how you use the information that counts.

Peter
Real Trading is not gambling.
  • #366
  • Apr 25, 2021 5:49pm Apr 25, 2021 5:49pm
Peter

Does all this matter, we are just trading liquidity imbalances that are occurring on the chart this very second.
We have data to show where current orders sit, we see the bids or the asks attacking these orders - we just need to establish one of these two things.

A- Bids or Asks show signs of strong imbalance levels with high volume levels within that candle.
B- Bids or Asks are hitting a level that contains large amounts of contract orders that keep being topped up.

The action

A- Extreme imbalance leading to flipping of the Bid / Ask order book shown as a pullback - Trade with the new direction
B- Repeated hits to that level with rejection - Trade against the block

Stop loss - The failure of the setup in either the Bid / Asks to maintain its previous imbalance levels or the block of orders to be removed when being attacked.

That's all we need to know. The actions of the futures market are reflected in the currency market within seconds.
We may debate what comes first, the chicken or the egg - either way the eggs taste nice either way.

We don't need to know - Daily direction, current news, session time, Day high and lows, TA setups, what we get with 30 years trading experience.
What we need - A pair of eyes and common sense and ensure all trading books sit in the rubbish bin.

YOU NEED TO HAVE CLARITY & VISION - WE NEED THE E
Trading thin liquidity at the boundary of the charts
  • #367
  • Apr 25, 2021 6:10pm Apr 25, 2021 6:10pm
Quoting RickM
Peter Does all this matter, we are just trading liquidity imbalances that are occurring on the chart this very second. We have data to show where current orders sit, we see the bids or the asks attacking these orders - we just need to establish one of these two things. A- Bids or Asks show signs of strong imbalance levels with high volume levels within that candle. B- Bids or Asks are hitting a level that contains large amounts of contract orders that keep being topped up. The action A- Extreme imbalance leading to flipping of the Bid / Ask order...


Rick,

There's no clarity and vision in chasing order blocks and being over-dependent on outside resources. It's just plain lazy and narrow minded.

I write what I do for the people who still have a brain that works. I am sorry Rick, I've been where you are and what you're doing is not common sense, it's predictable in certain contexts. It reminds me of a conveyor belt factory worker.

Clearly your stubbornness is blocking your foresight for the future. If everybody was jumping off a bridge because you'd get a big tax rebate, would you participate as well?

Go and re-read what I wrote and stop assuming anything at all. I have the same problem with most other people here. Common sense is not "how do I get what I want?!". It is "what is the situation as a whole?" If you STILL do not understand this, then I hope you do not have family members relying on you. But I don't say this to be cruel, I mean it.sincerely. Oversimplification is a sign of over-confidence and stupidity wrapped up in assumptions about Life.

Please learn instead of believing "I'm good. No need to change".


Peter
Real Trading is not gambling.
  • #368
  • Edited 6:40pm Apr 25, 2021 6:26pm | Edited 6:40pm
Quoting PeterCaleb
{quote} Rick, There's no clarity and vision in chasing order blocks and being over-dependent on outside resources. It's just plain lazy and narrow minded. I write what I do for the people who still have a brain that works. I am sorry Rick, I've been where you are and what you're doing is not common sense, it's predictable in certain contexts. It reminds me of a conveyor belt factory worker. Clearly your stubbornness is blocking your foresight for the future. If everybody was jumping off a bridge because you'd get a big tax rebate, would you participate...
Peter

You don't have Clarity then or you would see the setups occur before your very eyes and know how to make a nice wage. The flow of bids and Asks flipping from one side to the other is beautiful to watch.

Peter, you need to join me one night on the live trading room so I can show you some live setups as they occur.
You don't need a brain Peter, but you do need to have guts.

PETER - lets dance - do you have the balls to trade with me or are you just one of those gutless ex traders who are burned out and lack confidence.

Edit- Trading is a simple game, price either goes long or short. Stop trying to complicate it when there's no need too.
Trading thin liquidity at the boundary of the charts
  • #369
  • Apr 25, 2021 6:39pm Apr 25, 2021 6:39pm
Quoting RickM
{quote} Peter You don't have Clarity then or you would see the setups occur before your very eyes and know how to make a nice wage. Peter, you need to join me one night on the live trading room so I can show you some live setups as they occur. You don't need a brain Peter, do you have the guts. PETER - lets dance - do you have the balls to trade with me or are you just one of those gutless ex traders who are burned out and lack confidence.


Rick

I'm not impressed nor frightened. We've done this dance before. I don't need anyone to lick my balls. So stop wasting your breath. This is not some retarded MMA showdown. Now go take your school uniform off and shower for dinner.

If you want to behave like a child I'll treat you like you are one.

Peter
Real Trading is not gambling.
  • #370
  • Apr 25, 2021 6:40pm Apr 25, 2021 6:40pm
So Peter, instead of knocking what everyone else says on here and debating. Why don't you just make your own thread where you can talk about your trading strategy? I'm sure many people here would love to see how you trade/view the market.

You seem to have a lot to say about Rick and how he trades yet you don't post any proof of being a better trader than him so you really have no room to judge someone else.
  • #371
  • Apr 25, 2021 6:47pm Apr 25, 2021 6:47pm
Quoting viptrading
So Peter, instead of knocking what everyone else says on here and debating. Why don't you just make your own thread where you can talk about your trading strategy? I'm sure many people here would love to see how you trade/view the market. You seem to have a lot to say about Rick and how he trades yet you don't post any proof of being a better trader than him so you really have no room to judge someone else.



I'm not picking on anyone. This thread is the brutal truth of day trading, whether that be opinions ABOUT day trading OR ways to Day trade. If you weren't too busy joining the monkey brigade you could learn something. If you paid attention you would see I have already done this. Again, I'm not judging anyone. Now, would you like a tissue? Obviously you have trouble observing and learning and it's upsetting you.

Peter
Real Trading is not gambling.
  • #372
  • Apr 25, 2021 6:48pm Apr 25, 2021 6:48pm
"Change is hard and so is a brick wall against one's head."


Peter
Real Trading is not gambling.
  • #373
  • Apr 25, 2021 7:08pm Apr 25, 2021 7:08pm
Quoting PeterCaleb
{quote} I'm not picking on anyone. This thread is the brutal truth of day trading, whether that be opinions ABOUT day trading OR ways to Day trade. If you weren't too busy joining the monkey brigade you could learn something. If you paid attention you would see I have already done this. Again, I'm not judging anyone. Now, would you like a tissue? Obviously you have trouble observing and learning and it's upsetting you. Peter
LMAO what qualifies you to teach me anything? I never came in here asking to learn from you...

I made a post and you came out of left field arguing with me because you have an inferiority complex or something.

You clearly have a good understanding of financial markets but your an arrogant know it all. So I'm saying if you are really such a genius (surely you must be a billionaire by now, in which case why are you even wasting your time on here?) then make your own thread about yourself since you love to talk about yourself so much you egomaniac.

Anyone else getting JetTrader vibes from this guy, or is it just me? Lmao...
  • #374
  • Apr 25, 2021 7:12pm Apr 25, 2021 7:12pm
Quote
I'm not picking on anyone.

Man, you are literally arguing with everyone on here that doesn't trade the way YOU think is the right way....

Don't you see how arrogant you come off as?

Even if you are right about Rick if the way he trades works for him and he is making money then who cares? There are many different ways to trade, that's the beauty of the business.
  • #375
  • Apr 25, 2021 7:23pm Apr 25, 2021 7:23pm
Quoting viptrading
So Peter, instead of knocking what everyone else says on here and debating. Why don't you just make your own thread where you can talk about your trading strategy? I'm sure many people here would love to see how you trade/view the market. You seem to have a lot to say about Rick and how he trades yet you don't post any proof of being a better trader than him so you really have no room to judge someone else.
He has a thread, but no one is there, because he is a troll. So, he picks fights here.
If you are good at something, never do it for free--Joker
  • #376
  • Apr 25, 2021 7:36pm Apr 25, 2021 7:36pm
If you say so. On all counts. But gutter trash thinking is all that is. No there really isn't too many ways to day trade. Up or down. Mmmmm. I count two. As to all the other silly stuff you said ....

Arrogance is a false sense of over-confidence. Nope, I just know what I know. I don't know what your experiences have been but I'm not interested in trying to teach you. I have simply been contributing, but I probably seem off putting because I don't have a very strong tolerance for self accepted stupidity and ignorance.

So instead of trying to put it all on me, why not try assuming you know nothing and go from there. You never know, you might surprise yourself. For me, it's not about being the best but merely truthful.

Re: RickM - It all started because I pointed out that relying on outside resources that you cannot and do not control, is futile. Take it with a grain of salt and move on. So ..... uuum .... who cares what your opinion of me is all about.

All the filth you people come up with to explain away basics of trading. It's disgustingly hilarious and "I" am the one who is arrogant ??!! Hhehehehehe. You've GOT to be kidding. That's funny.

No I write for people who still can think and basically know that most people on here are simply full of crap and want to argue and debate to distract away from that fact of life.

The thread I started wasn't for trash talk. It's simply for those who come, learn and leave. Like civilized mature people. None of this rubbish you all think is normal or healthy.

I think you people have lost sight of the meaning of troll. You seem to use it far too often and seem to think it has some power over others.


Peter
Real Trading is not gambling.
  • #377
  • Apr 25, 2021 7:51pm Apr 25, 2021 7:51pm
Quote
No there really isn't too many ways to day trade. Up or down. Mmmmm. I count two.
You are smart enough to know that is not what I meant when I said there are multiple ways to trade. You can scalp, swing trade, order flow trade (like Rick), news trading, on and on and on. I didn't say there are more than two directions to trade, I said WAYS not DIRECTIONS.

Quote
Arrogance is a false sense of over-confidence. Nope, I just know what I know. I don't know what your experiences have been but I'm not interested in trying to teach you.
First you say that I can learn from you, and now you say you don't want to teach? lol, backtracking and twisting words, two things that qualify you as untrustworthy in my mind, you are only here to troll.

My OP on here was simply talking about the importance of mastering your psychology in trading. I don't know how anyone can argue against something like that but somehow you found a way!

And then Rick came on posting about his style or trading, and yet again you came in to shit all over his post as well!
Bravo Peter, you win at being the #1 shit poster on this thread!

To be honest and clear, I am in no way saying you are a bad trader or anything like that, because I don't know you, but I can say that you have cluttered this thread with long nonsensical posts that really should just be in a separate thread titled "Peter's trading tips", or something like that, then maybe you would reach who you want instead of arguing with everyone on here, unless that is your whole point of being here in the first place .
  • #378
  • Apr 25, 2021 8:01pm Apr 25, 2021 8:01pm
Quoting PeterCaleb
{quote} Rick I'm not impressed nor frightened. We've done this dance before. I don't need anyone to lick my balls. So stop wasting your breath. This is not some retarded MMA showdown. Now go take your school uniform off and shower for dinner. If you want to behave like a child I'll treat you like you are one. Peter
Perhaps you are not impressed or frightened by me, that wasn’t what I was offering.

Just two trading minds sharing some techniques and discussing trading topics in a private room if you like where anything shared is kept between us.
I have no ego, don’t claim to be a guru or a expert, just passionate about my trading journey and happy to learn from and support other traders methods.

TRUST - is very hard to find in the trading world, the only trader I trust and share my insights with is Zoltan (Profitfarmer) who is a honest about his trading journey and we think alike.

You need to find support from other traders or you won’t survive the journey.
Trading thin liquidity at the boundary of the charts
  • #379
  • Apr 25, 2021 8:31pm Apr 25, 2021 8:31pm
Quoting viptrading
{quote} You are smart enough to know that is not what I meant when I said there are multiple ways to trade. You can scalp, swing trade, order flow trade (like Rick), news trading, on and on and on. I didn't say there are more than two directions to trade, I said WAYS not DIRECTIONS. {quote} First you say that I can learn from you, and now you say you don't want to teach? lol, backtracking and twisting words, two things that qualify you as untrustworthy in my mind, you are only here to troll. My OP on here was simply talking about the importance...


Sorry, did I just walk into a hair salon? The direction IS the way. All that stuff about style is an opinion of what the person is comfortable with or, is inline with timing. If you strip away the labels and names you will understand. Go and place an order to market and just blindly choose the order size that is the max of what your account can handle. No SL or TP and watch. And see whether direction is less important than style. At the moment you're unteachable. Why? Monkey brigade. Get rid of that and you won't "need" me to teach you. You may need to go back and properly and openly review my posts and responses minus the noise of any wankers from this site.

So, do we grab the tissue box again, or, look at things differently?

If people have a problem reading and comprehending then that's on them.

I am so very sorry for disrupting the thread's chit-chat about mmmm ....not much. Not much real stuff anyway.


Peter
Real Trading is not gambling.
  • #380
  • Apr 25, 2021 8:37pm Apr 25, 2021 8:37pm
Quoting RickM
{quote} Perhaps you are not impressed or frightened by me, that wasn’t what I was offering. Just two trading minds sharing some techniques and discussing trading topics in a private room if you like where anything shared is kept between us. I have no ego, don’t claim to be a guru or a expert, just passionate about my trading journey and happy to learn from and support other traders methods. TRUST - is very hard to find in the trading world, the only trader I trust and share my insights with is Zoltan (Profitfarmer) who is a honest about his trading...


If you say so. If you want to learn then learn.

Peter
Real Trading is not gambling.
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