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The brutal truth of day trading

  • #3,281
  • Edited 6:04pm Aug 19, 2021 5:47pm | Edited 6:04pm
Quoting Wags
{quote} I always heard that a broker will categorise a trader based on their perfomance and place them accordingly, trade with the good and against the bad, like any good bookmaker would Out of interest how did the strong moves affect your trading today I got ripped overnight
Hi Wags

For me its about the relationship between volume / delta and expansion.

Is this additional volume from big players been used to accumulate one sided delta within a order block / grind or are they releasing one sided delta to create a large bearish or bullish trend.

Lets look last night at two different situations in EURUSD and GBPUSD.

EURUSD was producing positive delta for me which means a average bullish delta candle was correctly producing a bullish trend. Therefore its easy to trade with just a Cumulative delta bar chart and just take long trades when it swings back bullish. Here we have Buyers creating a bullish trend WITHOUT obstruction from big players liquidity.

GBPUSD on the other hand was producing negative delta as the bullish delta but was being ABSORBED by big players within a strong bearish grind. Basically the big players were manipulating price and destroying retail traders.

Therefore on EURUSD, liquidity was assisting the bullish move and also the bearish move thereafter while liquidity was blocking the move on GBPUSD.

On the question you asked, I traded mainly EURUSD even though it had a smaller range than many pairs last night because I could trust the liquidity to assist price movement. I can take about 30 to 40 trades at M1 turn points with little fear I would get hit with any draw down.

So I traded EURUSD larger with Buys as soon as M1 delta showed a good bullish delta candle and traded larger with sells as soon as M1 delta showed a good bearish delta candle and never lost 1 trade - 100%

If I had traded GBPUSD, I would have got caught a few times with larger draw down than I would like and perhaps made a wrong decision.

I choose to be precise with low risk moderate profits over high risk / high profits.
Profit results was about double my average of this week, a very nice trading day. However I had family duties occurring which prevented me achieving a even better result.


Cheers Rick
Trading thin liquidity at the boundary of the charts
  • #3,282
  • Aug 19, 2021 7:31pm Aug 19, 2021 7:31pm
Both EURUSD and GBPUSD were going to have a down day yesterday. People would have known this in advance if they studied the markets instead of just 'trusting' any point-to-point data trading methodology.

Of course now I'll hear from all the 'Wreck-It-Ralphs' because it's today and not yesterday with me saying this. But I'll say again, Data is input not the markets.

If you're not controlling YOUR side of what is being done, then you're merely speculating.


Peter
Real Trading is not gambling.
  • #3,283
  • Aug 19, 2021 8:19pm Aug 19, 2021 8:19pm
Quoting PeterCaleb
Both EURUSD and GBPUSD were going to have a down day yesterday. People would have known this in advance if they studied the markets instead of just 'trusting' any point-to-point data trading methodology. Of course now I'll hear from all the 'Wreck-It-Ralphs' because it's today and not yesterday with me saying this. But I'll say again, Data is input not the markets. If you're not controlling YOUR side of what is being done, then you're merely speculating. Peter
Peter

I thought you put me on ignore?.

As to your point, no one knows which way the market will move until Peter looks at yesterday’s chart and tells us what’s just happened.
Trading thin liquidity at the boundary of the charts
  • #3,284
  • Aug 19, 2021 8:26pm Aug 19, 2021 8:26pm
Quoting PeterCaleb
Both EURUSD and GBPUSD were going to have a down day yesterday. People would have known this in advance if they studied the markets instead of just 'trusting' any point-to-point data trading methodology. Of course now I'll hear from all the 'Wreck-It-Ralphs' because it's today and not yesterday with me saying this. But I'll say again, Data is input not the markets. If you're not controlling YOUR side of what is being done, then you're merely speculating. Peter
A new TA method I'm studying for the purpose of sharing it on FF said EURUSD was SELL yesterday and SELL today, and GBPUSD was SELL yesterday and no trade today.
  • #3,285
  • Aug 19, 2021 8:55pm Aug 19, 2021 8:55pm
Quoting PeterCaleb
Both EURUSD and GBPUSD were going to have a down day yesterday. People would have known this in advance if they studied the markets instead of just 'trusting' any point-to-point data trading methodology. Of course now I'll hear from all the 'Wreck-It-Ralphs' because it's today and not yesterday with me saying this. But I'll say again, Data is input not the markets. If you're not controlling YOUR side of what is being done, then you're merely speculating. Peter
my understanding on gbpusd order flow: your corrections/marking on the chart are welcome.
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entry:
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"Exchange of hands"
  • #3,286
  • Aug 19, 2021 9:00pm Aug 19, 2021 9:00pm
Quoting Winston Reed
{quote} I'm not quite sure where your irrational outburst came from. Guess I hit a nerve. But I'll come back at ya' big man with his own huge ego. I'm merely making a not so subtle point that there is a difference between gambling and speculation. Trading is speculation, not gambling. I would much rather play Black Jack if I was gambling. I really don't care if anyone believes me so I don't need to make statements such as "back it up with 25% of your networth allocated to Forex Trading". If this type of irrational behavior is what you think you...
Hi Winston… thanks for sharing the TE, even if its a hundred bucks… nice to see how other use MM. Aside from our own psychology, MM is a challenge too whether it’s a hundred or a thousand, same principles
  • #3,287
  • Aug 19, 2021 9:28pm Aug 19, 2021 9:28pm
Quoting RickM
{quote} Peter I thought you put me on ignore?. As to your point, no one knows which way the market will move until Peter looks at yesterday’s chart and tells us what’s just happened.


Yes very mature to say such things. I wasn't actually looking at who said what you said here. So you can conjure up whatever story suits your thinking. Unfortunately, what many people do not see while they're learning is - once you start down the road of over-reliance on data (without added understanding) you are essentially gap-filling the space that is created through the speculative side of trading. It's no different to chasing facts to provide counter-support to what you know deep down, is somewhat unstable and at least, beyond your control. Ergo, accepting the basic nature and task of every trader.

So for me, what I said has nothing to do with predicting. But it DOES have everything to do with balancing up what was said and being discussed. The best thing people can do is learn how to grow and evolve beyond what data traders won't/can't do. So then, it doesn't matter at all a person's choice of "style" or approach. You'd be a fool to ignore this point. If not for your own psyche then at least for those around you.


Peter
Real Trading is not gambling.
  • #3,288
  • Aug 19, 2021 9:29pm Aug 19, 2021 9:29pm
Quoting bilal1947
{quote} my understanding on gbpusd order flow: your corrections/marking on the chart are welcome. {image} entry: {image}
Refer to https://www.forexfactory.com/thread/...9#post13675219
Real Trading is not gambling.
  • #3,289
  • Aug 19, 2021 9:36pm Aug 19, 2021 9:36pm
Day traders abound, if you "believe" that data is the pinnacle, then it stands to reason that you must ALSO believe that fairies are sitting on a Tahiti or Hawaii beach with their laptop sending huge orders to market. And then doing "other things" with the market and their orders and position. Rather than real life things being behind the liquidity and order "flow". The world is a free market (in some ways) so learn from reality for a change.


Peter
Real Trading is not gambling.
  • #3,290
  • Aug 19, 2021 9:44pm Aug 19, 2021 9:44pm
Quoting PeterCaleb
Day traders abound, if you "believe" that data is the pinnacle, then it stands to reason that you must ALSO believe that fairies are sitting on a Tahiti or Hawaii beach with their laptop sending huge orders to market. And then doing "other things" with the market and their orders and position. Rather than real life things being behind the liquidity and order "flow". The world is a free market (in some ways) so learn from reality for a change. Peter
Manipulated, rigged world (yet free in some ways)

where might is right
"Exchange of hands"
  • #3,291
  • Aug 19, 2021 10:09pm Aug 19, 2021 10:09pm
Bilal,

I have said a few times now, that while man does create rather self-corrupting things in this world, it is to be determined by each individual, through what principles they will run their life. Therefore, lingo and jargon and expected norms must be put aside. And re: trading, playing their game is just a trap. As it is to use other people's plans. Once you strip the jargon and popularized concepts and information, you are left with what is and has always been there, but has been masked by "modern living". It's no different to saying - If you strip the person of all their "trading knowledge and know-how, the person that is left is all you need to observe." The same is with the world and the markets.

Wizard of Oz - pay attention to the man behind the curtain.


Peter
Real Trading is not gambling.
  • #3,292
  • Aug 19, 2021 10:14pm Aug 19, 2021 10:14pm
Quoting PeterCaleb
Day traders abound, if you "believe" that data is the pinnacle, then it stands to reason that you must ALSO believe that fairies are sitting on a Tahiti or Hawaii beach with their laptop sending huge orders to market. And then doing "other things" with the market and their orders and position. Rather than real life things being behind the liquidity and order "flow". The world is a free market (in some ways) so learn from reality for a change. Peter
It’s more profitable to trade data than it is to trade “real life things” which may or may not happen today.
Why are you here, you don’t day trade?.
Trading thin liquidity at the boundary of the charts
  • #3,293
  • Edited 3:04am Aug 20, 2021 12:26am | Edited 3:04am
If me know Nakamoto INTENT and knowing at all time WHY he move the price the way it is.

That is when we can detach price BEHAVIOUR and look PRICE ACTION from the other side of the screen.

Based on what's before, what's now and what's above and what's below. THE TARGET

If tick speeding UP .... me ask WHY ?
If theres big bloody bar ... WHY ?


George tell us ITS all about visual mind manipulation game. AT ALL TIME

PRICE BEHAVIOUR IS ONLY PUPPET AND CIRCUS in all time frame.

I must dance, embrace and follow Nakamoto intent while he always manipulated the price at eternity.

Believe and I will receive.

Just follow me but don't fall into my trap, said Nakamoto.

And never ever try to beat Me or pre empting because only me has absolute control in price behaviour, Nakamoto warn again.

Me answer: I don't have a word Sir Nakamoto My Lord.

I CAN'T believe such entity exist even in my wild imagination.

Don't judge Me but just dance with my manipulation. Learn to think like me, just pretend you have all power in this world. Be playfull with the new hypothesis I give you.

I am forever fluid and there is only one intent in my mind and soul and that is ALL YOUR MONEY MUST BELONG TO ME. Whoever you are

Please focus only WHAT IS ALWAYS REPEAT IN ME and ALWAYS REMEMBER MY INTENT.

Oh my English
  • #3,294
  • Aug 20, 2021 1:40am Aug 20, 2021 1:40am
Quoting deanyakobs
If me know Nakamoto INTENT and knowing at all time WHY he move the price the way it is. That is when we can detach price BEHAVIOUR and look PRICE ACTION from the other said of the screen. THAT SOMEONE Based on what's before, what's now and what's above and what's below. THE TARGET If tick speeding UP .... me ask WHY ? If theres big bloody bar ... WHY ? George tell us ITS all about visual mind manipulation game. AT ALL TIME PRICE BEHAVIOUR IS ONLY PUPPET AND CIRCUS in all time frame. I must dance, embrace and follow Nakamoto intent while he always...
Lol I like your English.
  • #3,295
  • Edited 2:04am Aug 20, 2021 1:50am | Edited 2:04am
Quoting PeterCaleb
{quote} Refer to https://www.forexfactory.com/thread/...9#post13675219
Lol The man just asked you for direct input on his posted chart (even though he doesn't genuinely want it), and you refer him to a post containing one of your vague ramblings of what's real and what's not? Come on Pete!!!

This doesn't give any clear direction -
Quote
Day traders abound, if you "believe" that data is the pinnacle, then it stands to reason that you must ALSO believe that fairies are sitting on a Tahiti or Hawaii beach with their laptop sending huge orders to market. And then doing "other things" with the market and their orders and position. Rather than real life things being behind the liquidity and order "flow". The world is a free market (in some ways) so learn from reality for a change.


Neither does this -
Quote
Unfortunately, what many people do not see while they're learning is - once you start down the road of over-reliance on data (without added understanding) you are essentially gap-filling the space that is created through the speculative side of trading. It's no different to chasing facts to provide counter-support to what you know deep down, is somewhat unstable and at least, beyond your control. Ergo, accepting the basic nature and task of every trader.
Quote

So for me, what I said has nothing to do with predicting....
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Nor this -

Quote
People would have known this in advance if they studied the markets instead of just 'trusting' any point-to-point data trading methodology.

When will you start actually addressing the practical "how"?
  • #3,296
  • Aug 20, 2021 2:22am Aug 20, 2021 2:22am
Quoting PeterCaleb
{quote} Yes very mature to say such things. I wasn't actually looking at who said what you said here. So you can conjure up whatever story suits your thinking. Unfortunately, what many people do not see while they're learning is - once you start down the road of over-reliance on data (without added understanding) you are essentially gap-filling the space that is created through the speculative side of trading. It's no different to chasing facts to provide counter-support to what you know deep down, is somewhat unstable and at least, beyond your...
For me what you say is not related to trading. What can we do with this information what you give?
  • #3,297
  • Aug 20, 2021 2:27am Aug 20, 2021 2:27am
Quoting Koop
{quote} Lol The man just asked you for direct input on his posted chart (even though he doesn't genuinely want it),
please don't be judgmental, there is always some thing one can learn.
"Exchange of hands"
  • #3,298
  • Aug 20, 2021 2:40am Aug 20, 2021 2:40am
Quoting bilal1947
{quote} please don't be judgmental, there is always some thing one can learn.
Lol Of course, but that does not seem to be the case with you Dear Bilal..... at least not this time.

Asides your occasionally posted trade reports of great profitable gains (kudos), you appear to have a thread where you teach some of what you do and you seem to have most of it figured out....... so it's very weird that you would post a chart of your methodical analysis and a chart of a trade which is already in profit, asking probably the most impractical/unpractical participant of this thread to give you his analysis on your chart. Do you even know how he trades and how his "method" relates to yours?

Lol Just bored.
Carry On!
  • #3,299
  • Aug 20, 2021 3:17am Aug 20, 2021 3:17am
Quoting Koop
{quote} Lol Of course, but that does not seem to be the case with you Dear Bilal..... at least not this time. Asides your occasionally posted trade reports of great profitable gains (kudos), you appear to have a thread where you teach some of what you do and you seem to have most of it figured out....... so it's very weird that you would post a chart of your methodical analysis and a chart of a trade which is already in profit, asking probably the most impractical/unpractical participant of this thread to give you his analysis on your chart. Do...
Thank you for kind words. my thread is not important to be honest my intentions only to share what and how i understood ICT, and still on learning track.

I am sure Peter knows alot more than me, we may disagree the way it is explained, but it shouldn't allow us the mock, disrespect any one.

that's why i don't want to miss any chance to learn from experienced ones here.
"Exchange of hands"
  • #3,300
  • Aug 20, 2021 3:30am Aug 20, 2021 3:30am
and he, respects others? his writings are arrogant and condescending in general, then what are we talking about.
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