The brutal truth of day trading | Page 139 | Forex Factory

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The brutal truth of day trading

  • #2,761
  • Aug 3, 2021 7:50pm Aug 3, 2021 7:50pm
Quoting RickM
Quoting Techanalyst
{quote} Hi Techanalyst For the big picture, you can see it in history like you said. But it’s possible to see the big players put up blocking orders, it’s possible to see the big players decrease liquidity on either the buyers or the sells orders. Last night mid London session, the selling liquidity doubled in size 2 to 1 over buyers during a bearish drop. I saw one selling order block price resulting in a bearish move. If you look at EURUSD now it’s bearish, the move was confirmed by a single block established at 10.23pm
...
maybe we see the same thing and the same time -
Attached Image (click to enlarge)
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but it did not hit my projected target, it was just 35 pips straight down. who won't be happy with that move?

PeterCaled the crown will surface soon
  • #2,762
  • Aug 3, 2021 7:59pm Aug 3, 2021 7:59pm
Quoting mixedbags
{quote}{quote} maybe we see the same thing and the same time - {image}but it did not hit my projected target, it was just 35 pips straight down. who won't be happy with that move? PeterCaled the crown will surface soon
Not boasting. No volume data required. Vely vely happi
BUT no balls to stay till the bottom.
Entry look nice, exit look like mee siam mai hum.
Question - you know where to buy big balls anot?
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Know what you trade
  • #2,763
  • Aug 3, 2021 8:10pm Aug 3, 2021 8:10pm
Quoting BWilliam
{quote} Not boasting. No volume data required. Vely vely happi BUT no balls to stay till the bottom. Entry look nice, exit look like mee siam mai hum. Question - you know where to buy big balls anot? {image} {image}
Hup Kee fish ball noodles at AMK - the biggest fish balls in town
  • #2,764
  • Edited 8:32pm Aug 3, 2021 8:17pm | Edited 8:32pm
Quoting RickM
But to add some of BWilliams magic to this thread, my guess he has a point marked on EURUSD at around 1.1857. I think he calls them value points or something. I call it a Vacuum point, George AUS would call it a Herd Mentality Line. Either way it’s fake resistance setting up retail traders for a hard full. Sell hard then Buy the exhaustion it causes - is my call. I could be wrong but who reads this post anyway Cheers
Just checked my phone, it's 1.1873

Edit - selling right now is not yet at this level. Better to look for buying opportunity. Market expected to do same move the past 3 days.
Know what you trade
  • #2,765
  • Aug 3, 2021 8:24pm Aug 3, 2021 8:24pm
With what I have now learned, the big players are people or companies and all that, who have more money to put into the market at any time. Point 1 pretty easy to get that. They too need to buy low to sell higher than they entered or vice versa if they want to make money. A friend of mine who's been showing me order flow and all that stuff, says that the bigger participants may 'expect' a lot of interest at that level or price zone for a rally/sell off and so they're just preparing for a 'turn' by placing more than enough orders to spread risk/exposure on their side, while getting all their needed orders filled. He was explaining to me that people who use trend trading/following strategies with non trending style markets or timeframes would get caught at the high turn or low turn coz they are adding to or increasing their position the longer it goes on. And he said that what RickM is saying is accurate, but is not the only view playing out. My friend traded with some big companies and said that it's not until you traded from both sides of the market, that you understand why there is a us vs them view of the markets. Please know I'm paraphrasing what he said coz he said other stuff too but I didn't understand it fully yet.

I gotta say that theory and point of view is good. but maybe it runs out of power.


Arnold
I believe simple is best
  • #2,766
  • Aug 3, 2021 8:46pm Aug 3, 2021 8:46pm
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Happy with the morning, will attend to my garden.
  • #2,767
  • Aug 3, 2021 8:59pm Aug 3, 2021 8:59pm
Quoting BWilliam
{quote} Just checked my phone, it's 1.1873 Edit - selling right now is not yet at this level. Better to look for buying opportunity. Market expected to do same move the past 3 days.
Yes, I agree to buy at that level ( for me 1.1857) if it shows a bullish 3 bar reversal.

But beware the massive Sell off this week
Trading thin liquidity at the boundary of the charts
  • #2,768
  • Aug 3, 2021 9:45pm Aug 3, 2021 9:45pm
Quoting BWilliam
{quote} I don't think you understand the other realistic way to trade Forex. You have not thought deep enough about this serious subject. You simply brush it off as gambling. You have not yet understand the true meaning of risk management. You already made up your mind that you are correct. So I won't explain it on this forum, no point. About your dream of scalping Forex for a wage. Tell us(this forum) your story when you retire. Also tell us how many among your group retired as a Forex scalper for a living. There's nothing to boast about scalping...
[/i]
Specific to scalpers dreaming of trading for a wage.
50 trades on average a day.
50 x 260 trading days =13,000 trades a year.
13,000 x 30 years 390,000 trades in his trading for a living career. Maintained at 90% win rate.
Does that sound logical or realistic to you?


Why don't you tell the check out chick to count how many people she has served that day, how many she will serve in 30 years.
Why don't you tell factory worker making widgets every day to count how many they will make in 30 years.

We all have a job to do.
My job is scalping and it isn't hard to do - its a just a job with very little decision making required.

Look for ask or bid imbalance, look for inefficient moves caused by low volume, look for efficient moves caused by extreme volume
Where's the work?

Lastly good luck to any of your trader buddies that are far more profitable than me, I hope their dream remains alive.

Cheers
Trading thin liquidity at the boundary of the charts
  • #2,769
  • Edited 2:48am Aug 4, 2021 2:09am | Edited 2:48am
Quoting mixedbags
{image}Happy with the morning, will attend to my garden.
just because it's fun
I'm going for breakfast now
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  • #2,770
  • Aug 4, 2021 3:52am Aug 4, 2021 3:52am
Quoting kette
{quote} just because it's fun I'm going for breakfast now {image} {image} {image}
well done.
  • #2,771
  • Aug 4, 2021 3:55am Aug 4, 2021 3:55am
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That's it for today.
From Mon to today the profit is more than my 1 month wages plus overtime pay, as a security guard sitting at the guard post of a ghost town industrial park.
  • #2,772
  • Aug 4, 2021 4:00am Aug 4, 2021 4:00am
Quoting mixedbags
{quote} well done.





right ,enough now
  • #2,773
  • Aug 4, 2021 8:17am Aug 4, 2021 8:17am
Quoting BWilliam
No volume data required.
Just wondering why don't you trade from your phone. There are also two large buttons BUY and SELL there (they are not even Long and Short, they are exactly BUY and SELL).
Observer effect
  • #2,774
  • Aug 4, 2021 2:29pm Aug 4, 2021 2:29pm
Quoting BWilliam
{quote}{quote} Hi RickM, I wrote in Asia market this level 1.1873 when I checked from the phone. Do you know what's the significance of this level? Daily price must close below this level. That's what make it important info. Check the last 3 days this week, watch how price plunge sharply below this level. There's very low probability market daily candle close above this level this week. Market is trying to break 1.1810 price during interest rate last week. The massive bearish move you wrote about happened today. Imagine if you knew about this insider...
yes, this huge move affected almost every pairs.
this little bomb happened on usd.
  • #2,775
  • Aug 4, 2021 2:32pm Aug 4, 2021 2:32pm
Sorry to interrupt your conversation. Don't mind me. I'll just write these quotes. It's wonderful.

Quoting BWilliam
I wrote in Asia market this level 1.1873 when I checked from the phone.
Perfect analysis!

Quoting BWilliam
Daily price must close below this level.
As if the price owes him something.

Quoting BWilliam
There's very low probability market daily candle close above this level this week.
The probability comes to the stage.

Quoting BWilliam
Just know that this market is very predictable than you can imagine.
Said bored retired billionaire.

Quoting BWilliam
people don't think deep enough about it.
So drawing level on the phone is deep thinking about the market. Headhunters from Wall Street board planes to be the first to get the great trader.
Observer effect
  • #2,776
  • Aug 4, 2021 3:37pm Aug 4, 2021 3:37pm
It would be amazing if you gentlemen read the thread's title. No one really cares about your current opinions on EUR/USD price points; there is a very easy to find thread for that. Try searching "EUR/USD".

It would be far more considerate than spamming a completely different topic with your trash thoughts simply because it has more than 100 pages.
"The fun is in the hunt. Not the kill."
  • #2,777
  • Aug 4, 2021 4:02pm Aug 4, 2021 4:02pm
i like to read ff's pages during my trades.
it doesn't matter to me what the topic is.
man is always learning something.
  • #2,778
  • Aug 4, 2021 4:13pm Aug 4, 2021 4:13pm
Quoting tiborf71
i like to read ff's pages during my trades. it doesn't matter to me what the topic is. man is always learning something.

I join you in what you have said
  • #2,779
  • Aug 4, 2021 5:37pm Aug 4, 2021 5:37pm
Quoting Redeflect
It would be amazing if you gentlemen read the thread's title. No one really cares about your current opinions on EUR/USD price points; there is a very easy to find thread for that. Try searching "EUR/USD". It would be far more considerate than spamming a completely different topic with your trash thoughts simply because it has more than 100 pages.
We are trying to explain how we trade the market.
I day trade EURUSD which means I must be flat with no positions open at the end of my trading session.

That is true day trading in my opinion.

How else can we discuss trading without talking about markets. Offering our opinions about one market with swing points is about the only way any trader can understand what the hell we are going on about.

Like I said yesterday - beware the massive Sell off this week.

Cheers
Trading thin liquidity at the boundary of the charts
  • #2,780
  • Aug 4, 2021 7:20pm Aug 4, 2021 7:20pm
Quoting Redeflect
It would be amazing if you gentlemen read the thread's title. No one really cares about your current opinions on EUR/USD price points; there is a very easy to find thread for that. Try searching "EUR/USD". It would be far more considerate than spamming a completely different topic with your trash thoughts simply because it has more than 100 pages.
So...what do you want to talk about? Post something that will prompt discussion.
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