From my nearly 15 years of trading exp. There is no indicator or technical analysis that will work all the time. Trader will need to have knowledge about world economy too.
1
Is forex education misleading or everyone is stupid?
- #423
- Edited 12:56am Jan 24, 2022 12:40am | Edited 12:56am
- Joined Jan 2016 | Status: I am not a trader | 1,238 Posts
- #424
- Edited 7:37am Jan 24, 2022 1:58am | Edited 7:37am
Simple idea, hard decision, success is probable, not deterministic.
Bearish order-block vs buyside imbalance and sellside inefficiency to be corrected.
You can learn how to identify it, but it does not mean you can learn how to trade it.
You have to learn how to trade under uncertainty, how to manage your risk and money and how to validate your entries and exits.
Most people cannot learn it, just as simple as that.
[edit #1]
This was my short.
Simple ICT OTE trading.
Very, very modest RRR ~1:4 but almost no refining needed.
Most people think in order-blocks when they hear ICT.
But ICT is not about order-blocks. You will realize this short is not based on any order-block. And it is pure SMC.
[edit #2]
Still running the trade.
Was it luck? Was it knowledge? is it just Photoshop or a rented mt4 server to fake my trades? is it my live account or not? It is the same. The person is not important, what it is important is the reason.
[edit #3]
Imbalance cleared.
Bearish order-block vs buyside imbalance and sellside inefficiency to be corrected.
You can learn how to identify it, but it does not mean you can learn how to trade it.
You have to learn how to trade under uncertainty, how to manage your risk and money and how to validate your entries and exits.
Most people cannot learn it, just as simple as that.
[edit #1]
This was my short.
Simple ICT OTE trading.
Very, very modest RRR ~1:4 but almost no refining needed.
Most people think in order-blocks when they hear ICT.
But ICT is not about order-blocks. You will realize this short is not based on any order-block. And it is pure SMC.
[edit #2]
Still running the trade.
Was it luck? Was it knowledge? is it just Photoshop or a rented mt4 server to fake my trades? is it my live account or not? It is the same. The person is not important, what it is important is the reason.
[edit #3]
Imbalance cleared.
Yes. Forex education is misleading. Actually it isn't, it's doesn't exist...no one is taught how to trade. Its dive-in sink/swim. Forex education should be taught like engineering is taught. As far as successful trading is concerned most winners have no incentive to talk seriously on forums. Since 2009 my BS detector has counted about 8 guys who I can bet are profitable. There are a million ways to skin this cat and no two styles are alike like no two chefs are alike. A lot of statements here I consider misleading (or incomplete) but I don't have...
I appreciate your valuable input and wisdom sir
{quote} I appreciate your valuable input and wisdom sir
To solve your decimal places, I can think of only two options off the top of my head.
1. Re-configure the EA logic to spit out results within two decimal places
2. Capitalize such that 5% - > 0.05468336 becomes 5.46 -> 54.683 (your error then becomes marginal is my guess)
Well done.
- #429
- Jan 24, 2022 11:42am Jan 24, 2022 11:42am
- Joined Apr 2020 | Status: Trader/Coder | 1,929 Posts
Observer effect
- #431
- Jan 24, 2022 1:30pm Jan 24, 2022 1:30pm
- Joined Apr 2020 | Status: Trader/Coder | 1,929 Posts
Observer effect
- #434
- Jan 24, 2022 8:55pm Jan 24, 2022 8:55pm
- Joined May 2010 | Status: Straight line Fest | 3,194 Posts
- #435
- Edited 1:56am Jan 25, 2022 1:36am | Edited 1:56am
{quote} Yep, I totally agree with you. There is no data for the order block, only lines drawn. I would prefer to redraw it as banana skin high and banana skin low. We start from a reversal which isn't too hard to work out if price is dropping from a previous high. We then get to eat a banana. Having ate the banana we tread on the skin and whoaaa, what the f..k...price drops. So having renamed the bullshit order block a banana a quick check through the trees and banana skid points are all over, all time frames, all pairs. The chart that Sherzi has...
People think order-blocks are candles because they know nothing about SMC or ICT. They also think ICT is about order-blocks while it is just a small abstraction of order-flow and it means nothing by itself. Obviously all the information is available for free on Youtube and I am not going to lose my time repeating what can be reached by one click. Anyways, it is impossible to know in advance if a certain structure (order-block or any other) will cause a reaction in price. Completely impossible. We do not trade knowing that is going to happen, only betting when we think the odds are in our favor.
Let me just tell you, please, that you would need a couple of years to understand the basics of ICT and maybe more time to understand how to make profit from it.
High and low trading is retail trading and that is not ICT. I do not mind if my liquidity area is at the middle, at the top or at the bottom. In fact I sold a low which is apparently opposed to ICT that encourages selling only premium. But price was at premium in my liquidity map.
Anyways, I won't repeat myself and if you are one of these that come here to laugh at others then I will block you as I did with ryuryu. Here we come to talk about trading, not about our egos or our testosterone. If your ego is too strong, bad for your trading and for your life in general. Trading is a quest with a lot of failures and successes, and requires extreme focus and curiosity, accepting being wrong often. That is not compatible with a predominant ego or obsessed alpha males.
And the same I tell to everyone, if you are the average person and do not have an extreme focus, forget about trading. Trading is not for the majority because it is an extreme activity, that's it. The first think you need to do is to reduce your expectations of success to the minimum because the likelihood of learning to trade are ridiculously low.
- #436
- Edited 2:15am Jan 25, 2022 1:58am | Edited 2:15am
Probable order flow for next hours. When we trade, we always look for validation on lower timeframes, so this is the higher timeframe liquidity map, not the confirmation for an entry. The range is within the two horizontal lines. It is all probability, remember, I am not selling shit till I see a confirmation to do it.
So you just can sit and see what happens at your areas of interest. No one knows. I would like to see now a small rise and a later drop. But the trader never knows what will occur.
There is not one ICT way of doing things, each trader has to develop the tools that fit his or her traits and personality. I like selling as price moves up, so I will wait for a rise that should happen now to sell from a higher level if I am given the opportunity. If price does not reach my planned areas above, I will change my mind and it is ok because I do not mind being wrong, I only mind losing money.
The more the price moves up, the happier I am.
Because I sell as prices go up, and I buy as prices fall.
To be more concise, I would trade in either direction, but I would like to see this: a first rise within the range and a later drop.
So you just can sit and see what happens at your areas of interest. No one knows. I would like to see now a small rise and a later drop. But the trader never knows what will occur.
There is not one ICT way of doing things, each trader has to develop the tools that fit his or her traits and personality. I like selling as price moves up, so I will wait for a rise that should happen now to sell from a higher level if I am given the opportunity. If price does not reach my planned areas above, I will change my mind and it is ok because I do not mind being wrong, I only mind losing money.
The more the price moves up, the happier I am.
Because I sell as prices go up, and I buy as prices fall.
To be more concise, I would trade in either direction, but I would like to see this: a first rise within the range and a later drop.
- #437
- Jan 25, 2022 2:05am Jan 25, 2022 2:05am
- Joined May 2010 | Status: Straight line Fest | 3,194 Posts
- #440
- Jan 25, 2022 2:20am Jan 25, 2022 2:20am
- Joined May 2010 | Status: Straight line Fest | 3,194 Posts