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The brutal truth of day trading

  • #2,701
  • Edited 4:58am Aug 1, 2021 4:43am | Edited 4:58am
Quoting RickM
{quote} Hi BWilliams I don't trade BTCUSD or have the data feeds set up on my platform at present so its hard for me to comment on that chart. But to answer your question on volume, we are dealing with the relationship of aggressive market orders feeding off passive limit orders. The volume which is executed aggressive market orders is exact and clear. Limit orders however are hidden behind a thousand mirrors so this is the X factor. Volume isn't always useful to determine pullback points because of the X factor but can be very exact in determining...
Ok, I also don't trade BTCUSD. I used it since it's trading live market on Sunday. Isn't there CME bitcoin futures data ?

In any case if you study my naked chart you may get the idea how I think your volume strategy may play a role in risk management as a confluence confirmation. As in this case right now in the pic which is high risk of failure, low cost with stop at the swing high but high reward as well. Ofc I do have my math based method of defining the entry.

Response to ryuryu -

I have written to you earlier that it's best you do not respond to my posts. I have zero intention to communicate with you.
As to your complain about my chart, isn't it obvious to you I posted a naked chart ? I must be a fool to post the algo math chart.
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Know what you trade
  • #2,702
  • Aug 1, 2021 4:49am Aug 1, 2021 4:49am
Quoting ryuryu
{quote} Nooo!!! Why you want to join??? You are not a trader! I don't like to spend time for useless discussions! Please DO NOT join! Please create your own discord channel and discuss your useless drawings there!!!
If discord channel is managed by Rick M, yes. If by others. No.
Practice makes a person perfect
  • #2,703
  • Aug 1, 2021 4:58am Aug 1, 2021 4:58am
Quoting BWilliam
{quote} Ok, I also don't trade BTCUSD. I used it since it's trading live market on Sunday. Isn't there CME bitcoin futures data ? In any case if you study my naked chart you may get the idea how I think your volume strategy may play a role in risk management as a confluence confirmation. As in this case right now in the pic which is high risk low cost with stop at the swing high but high reward as well. Response to ryuryu - I have written to you earlier that it's best you do not respond to my posts. I have zero intention to communicate with you....
Of course you don't want to argue with me. Because you have zero knowledge about the things you are trying to talk about. You like an old parrot repeating the same bullshit over and over again. Try using volume first, try to trade crypto. And then you will answer all your stupid question yourself.

For example what is the point to use CME futures data for bitcoin?? Can you turn your brains on for a minute? There are biggest crypto exchange available with its API for free! I told you that 5 minutes ago!!! You thing if you are old you are smart by default? Re-read again what I wrote to you.

Fk, this thread is magic indeed. One is claiming about 5-6% daily, second trade 350 lot size, third is not a treader but wants to join trading discprd channel, another one so smart that can read only what he wrote... Ooh. That's the brutal truth.
Observer effect
  • #2,704
  • Aug 1, 2021 5:13am Aug 1, 2021 5:13am
Quoting mixedbags
{quote} Wow, what a great trader you are, all winning trades, impressive just going through all your charts. You're definitely on par with TraderRon.

don't know anyTrader Ron.
my trading is carefully planned.

this is btcusd
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  • #2,705
  • Aug 1, 2021 5:16am Aug 1, 2021 5:16am
now anyone can post a live trade
how old does not matter
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  • #2,706
  • Aug 1, 2021 5:23am Aug 1, 2021 5:23am
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Real Trading is not gambling.
  • #2,707
  • Aug 1, 2021 5:45am Aug 1, 2021 5:45am
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  • #2,708
  • Aug 1, 2021 5:47am Aug 1, 2021 5:47am
Quoting kette
{quote} don't know anyTrader Ron. my trading is carefully planned. this is btcusd {image}
Hi Kette

Well I am a fan of your work and enjoy your charts because you always give different perspectives on volume

Cheers Rick
Trading thin liquidity at the boundary of the charts
  • #2,709
  • Aug 1, 2021 6:00am Aug 1, 2021 6:00am
Quoting RickM
{quote} Hi Kette Well I am a fan of your work and enjoy your charts because you always give different perspectives on volume Cheers Rick

Hi RickM


thank you,
I think we both use the possibilities of the clusterdelta that distinguishes us.
  • #2,710
  • Edited 11:49am Aug 1, 2021 6:03am | Edited 11:49am
Quoting RickM
{quote} Hi BWilliams I don't trade BTCUSD or have the data feeds set up on my platform at present so its hard for me to comment on that chart. But to answer your question on volume, we are dealing with the relationship of aggressive market orders feeding off passive limit orders. The volume which is executed aggressive market orders is exact and clear. Limit orders however are hidden behind a thousand mirrors so this is the X factor. Volume isn't always useful to determine pullback points because of the X factor but can be very exact in determining...
This is the reason why I wrote earlier there're normally no more than 2 intraday swing trade potential for each pair a trading day.
Today is Sunday I don't trade. So I picked BTCUSD to demonstrate in live market all that I wrote previously on this forum.

Happy weekend
Cheers
J
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Know what you trade
  • #2,711
  • Aug 1, 2021 6:06am Aug 1, 2021 6:06am
Quoting BWilliam
{quote} Here's the specific ying yang question. Can volume data pin point these 6 entry points in a rising market moving towards target ? Can volume data pin point the turning point moving away from target ? Is your volume strategy limited to 1m tf ? An affirmative response means there's complimentary virtues in ying and yang vv. {image}
Saw nothing at the 1st point.
2nd point: maybe there is a reason to scalp long at next candle. Easy to judge on historical data you know... I'm not an expert on this and I don't trade BTC or m1 TF
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But what data/trading system can pinpoint that hypothetical entry points?
Air force
  • #2,712
  • Edited 7:02am Aug 1, 2021 6:48am | Edited 7:02am
Quoting W0lfram
{quote} Saw nothing at the 1st point. 2nd point: maybe there is a reason to scalp long at next candle. Easy to judge on historical data you know... I'm not an expert on this and I don't trade BTC or m1 TF{image}But what data/trading system can pinpoint that hypothetical entry points?
I can suggest not to trade binance futures since they are nominated in dollars (but it is highly preferred to use binance spot/futures data via API). It is better to trade btc perpetual contracts on bitmex for example or another exchange where contracts nominated in bitcoin. Because you will have an advantage with shorts. Short with 1x leverage has no liquidation price, it will earn positive funding (aka swap) every 8 hours and you will never lose your position in dollars even if the price will go up. So shorts are protected by default winwin setup. There is no such a setup on forex. Only on true crypto. It give us a lot of advantages!
So rules for crypto are: do not trade longs (you are long 1x by default with no risk), do not trade crypto spot or forex crypto. Trade only perpetual futures in 1x short.

Abut the trading system: it is the same like CME futures/forex (But here it is Bitmex Futures/Binance). Then there is imbalance found just jump-in against the market. If price will not reverse just reverse/hedge the position. BTW on crypto I prefer long-term trades on 1H tf. Since you earn both from funding and from short there is no purpose to jump-in jump-out too fast.

added: this all only about btc, other crypto has liq price even with 1x leverage due to math. I have no time to explain just understand that is works only for btc.
Observer effect
  • #2,713
  • Aug 1, 2021 6:57am Aug 1, 2021 6:57am
Quoting PeterCaleb
Attached Image
wow you are wild, didn't realized that you're into bestiality. This explain why you Mmmmmmm so loud
  • #2,714
  • Aug 1, 2021 7:04am Aug 1, 2021 7:04am
Quoting mixedbags
{quote} wow you are wild, didn't realized that you're into bestiality. This explain why you Mmmmmmm so loud {image}
Nobody wants to buy his PDFs with holy grail 5-6% daily profit strategies, and he doesn't know how to trade. Therefore, he sits without money and that's why he is angry.
Observer effect
  • #2,715
  • Aug 1, 2021 7:05am Aug 1, 2021 7:05am
Quoting mixedbags
{quote} mmmmm, hehehee you reach climax ah. Don't continue to talk cock (btw I don't think you have one to start with) why not we take a challenge now on BTCUSD, from London Open to London Close.
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no guessing you ain't no cock to take up the challenge. go johor road and sell your backside ok.
singaporeans will know the notorious Johor Road where many 99 happenings long time ago.

99 is play back side
  • #2,716
  • Aug 1, 2021 7:08am Aug 1, 2021 7:08am
Quoting ryuryu
{quote} I can suggest not to trade binance futures since they are nominated in dollars (but it is highly preferred to use binance spot/futures data via API). It is better to trade btc perpetual contracts on bitmex for example or another exchange where contracts nominated in bitcoin. Because you will have an advantage with shorts. Short with 1x leverage has no liquidation price, it will earn positive funding (aka swap) every 8 hours and you will never lose your position in dollars even if the price will go up. So shorts are protected by default winwin...
Thanks a lot, I will take your advice into account if I start trading crypto someday.
Well, I didn't know what the ticker was called, so I took the first one I saw with "Futures" in it for illustration. Now I see it's xbtusd@BitMEX (right?). Completely different picture on footprint
Air force
  • #2,717
  • Aug 1, 2021 7:20am Aug 1, 2021 7:20am
Quoting W0lfram
{quote} Thanks a lot, I will take your advice into account if I start trading crypto someday. Well, I didn't know what the ticker was called, so I took the first one I saw with "Futures" in it for illustration. Now I see it's xbtusd@BitMEX (right?). Completely different picture on footprint
You are welcome, W0lfram!

Yes XBTUSD. It is better to use volume data from Binance spot (even not the futures, because the traded volume on futures is not so big) but trade that XBTUSD perpetual contract on bitmex. Footprint and volume data on Bitmex is same bullshit like tick data on forex. They are taking some data from kraken, some from binance and other exchanges, mix it up and so on. Same "tick data" scam. So that's why it is better to use that hint. The same hint is for forex: trade on forex using cme futures data.

BTW I'm so stupid that I was trading crypto this way for ages but start to trade forex this way only after RickM explained to me all that CME stuff! Why I didn't immediately think that the same techniques can be used in Forex remains a mystery... So it is better always to ask professional traders about the things you don't know and follow their advices.
Observer effect
  • #2,718
  • Aug 1, 2021 11:22am Aug 1, 2021 11:22am
Quoting mixedbags
{quote} {image}no guessing you ain't no cock to take up the challenge. go johor road and sell your backside ok. singaporeans will know the notorious Johor Road where many 99 happenings long time ago. 99 is play back side
BTCUSD
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  • #2,719
  • Aug 1, 2021 2:16pm Aug 1, 2021 2:16pm
Quoting kette
{quote} BTCUSD {image}
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  • #2,720
  • Aug 1, 2021 2:50pm Aug 1, 2021 2:50pm
Quoting mixedbags
{quote} {image}
sorry dude.
but is that sl in a good place?
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