Menu
Sister Sites

Options

Bookmark Thread

First Page First Unread Last Page Last Post

Print Thread

Similar Threads

Alpari demo account, is it in real real time? 26 replies

Real traders hedge and martingale - Be a real trader 0 replies

Real traders, real money 80 replies

difference in real prices on Demo and real micro account 10 replies

Real trades in real time 23 replies

Attachments: Real Trading
Exit Attachments

Real Trading

Quoting Kwt4x
{quote} Cycles are Fractal System, every TF has a trading cycle, but smaller TF Cycle will be within a bigger one and so on. even in the same TF, there is multi cycles according to the Law of Vibration, the bigger cycle might have multi cycles of a smaller one. so, he mentioned the trade cycle without identifying what TF. {image} cheers,
Thanks Bro.

You're great in giving excellent answer.

To add to that point, the real power lies in the congruence of factors from a top-down approach, aiming to have as many aligning in our favor as possible.

In the example, the down cycle in the hourly had the backing of the H4 and daily cycles as well, which undoubtedly reinforces the chances of picking the right direction to trade.

Now, does this mean that the bearish market structure in the hourly will be respected?
Not at all.
Remember that each individual trade is just a random event within the context of an exploitable edge.

However, by conducting the proper market structure analysis, we do obtain that edge in terms of the location to engage that can offer a relatively low-risk entry for a potentially much larger yield. Anything below 30 pips risk is good entry location.
Do not get emotional when you gain or lose.
hello everyone, some of my winners today...
Attached Images (click to enlarge)
Click to Enlarge Name: XAUUSDM15.png Size: 79 KB Click to Enlarge Name: US100.cashM5.png Size: 98 KB
Quoting Pat Chiko
{quote} I repeat the Question.......... WHY SOME ARE SHORT & SOME ARE LONG in GU now ?.
1. different systems
2. different timeframes
3. different side after coin toss
Quoting Waveskierrob
{quote} Not me .....just have power of the coin and clover

I'm thinking of dropping by your place/town ( or whatever convenience place to meet), on my next trip to London.

How do I want to address you ?....

As everyone here knows that you're Duke Of Salcombe, shall I address you.......
"My Lord" ?, "Your Most Honorable" ?, "Your Grace" ?. "Your Excellency" ?," "His Royal Highness." ?.

Cannot be possible "Your Majesty"..... ....... ( unless you wear skirt...)
Should I wear full coat dressed or just jeans and sneaker ?.

Thanks You Waveskie.
Do not get emotional when you gain or lose.
Quoting Pat Chiko
{quote} Thanks Bro. You're great in giving excellent answer. To add to that point, the real power lies in the congruence of factors from a top-down approach, aiming to have as many aligning in our favor as possible. In the example, the down cycle in the hourly had the backing of the H4 and daily cycles as well, which undoubtedly reinforces the chances of picking the right direction to trade. Now, does this mean that the bearish market structure in the hourly will be respected? Not at all. Remember that each individual trade is just a random event...
you welcome Bro,

that exactly the definition of cycles(waves), when all TF agree at a top that cycle(wave) is the DAILY peak, then the H1 start a LH-LL and agrees more with the H4 LH-LL until the end of the DAILY low, then start all over again with new trend. so, the direction belong to the biggest cycle(wave).

Attached Image (click to enlarge)
Click to Enlarge Name: Market Trend 4H Swing Trading.jpg Size: 41 KB

cheers,
Quoting Pat Chiko
{quote} I'm thinking of dropping by your place/town ( or whatever convenience place to meet), on my next trip to London. How do I want to address you ?.... As everyone here knows that you're Duke Of Salcombe, shall I address you....... "My Lord" ?, "Your Most Honorable" ?, "Your Grace" ?. "Your Excellency" ?," "His Royal Highness." ?. Cannot be possible "Your Majesty"..... ....... ( unless you wear skirt...) Should I wear full coat dressed or just jeans and sneaker ?. Thanks You Waveskie.
just make sure he is not Scottish or you have to wear a Kilt

Attached Image (click to enlarge)
Click to Enlarge Name: TP10098PINEBARKWP.jpg Size: 101 KB
Quoting milkyway1
{quote} Thanks for the reply PAT I have 1 small question: did you say the main structure (I understand the daily trend is still up) So in this case, when the main structure is broken (uptrend to downtrend) (I understand the MPL price zone is out, right?)
Hi Kien,

You must have Minimum Of Two Closes Beyond Last High/Low
This is to confirm that a bearish trend or down-cycle is evolving in a healthy manner, not only we need to see the low printed being lower than its previous low, but we also should expect at least two closes beyond that low or support area as further evidence that the market is accepting and building value.

Failure to print at least two closes may be a precursor to what’s often referred as FO or false breakout, and while the move still holds its merit to qualify as a new low in the cycle, the quality of the leg is poor in nature.

You must, by all means, avoid the trap of being short-sighted by only sticking to one chart analysis.
When conducting your market structure studies, it’s all about building a thesis about a particular direction by finding concurrence from higher time frames down to your trading time frame.

While some degree of subjectivity will always be required

Trade Safe.
Do not get emotional when you gain or lose.
Quoting ToBeSure
{quote} Hello Sir, I'm interested in how you draw your support and resistance zones. Do you just draw them on say H4 or H1 or, do you draw them on lower timeframes too? Also, do you have any rules about where to draw them? So what I mean is, do you use the open/close or high/low of the candles? I've looked at some of your charts and sometimes your zone touches the open/high of some candles and the close/low of others. Sometimes, when I look at the chart, I can see touches above and below a line/zone and then I...
Waahh.........So many question.......

Let me begin with Epilogue ( normally it should be the conclusion).

Entering trades around areas of highly concentrated liquidity is absolutely essential for large institutions with a need to transact hundreds of millions of dollars on behalf of their clients or for purely speculative purposes.

If large sums were to be transacted around thin liquid areas, as an analogy, large players would be shooting themselves on the foot by getting poor entries.

Why is that?
Because the lack of counter parties to fill in their orders would lead to average entry prices that are far from ideal.
That’s why major players are especially active around areas of high volume activity or liquidity.

That’s precisely why we hear the term manipulation or stop loss hunting so often.
Because liquidity is the oxygen of every large player to have them involved at the size of trades they intend to.
There is no better place for large players to get involved than in the areas this article will teach you to identify.

Support Resistance is the key area. Know how to deal with them first.


Cont/-
Do not get emotional when you gain or lose.
Quoting Pat Chiko
{quote} Waahh.........So many question....... Let me begin with Epilogue Cont/-

Step into getting to identify & grade high-interest areas of S&R.

Always start by zooming out the chart

Start this process by squeezing your charts, so that you can visually identify the maximum number of interactions a particular area has exhibited in the past.

Drawing the right levels of horizontal support and resistance and trend lines is definitely more an art rather than an exact science.
It takes screen time and training your eye.

Top-down analysis

The higher the time frame, the more relevant the area identified becomes.
You must think about the top-down order of time frames as dissecting the anatomy of a chart by studying the structure of its parts.
As we move up in time frames, each candle contains a greater amount of information.

Use different colors based on time frames

To make a clear distinction between the levels of relevance based on the time frames they refer to, I recommend using different colors.

Number of tests
Let’s briefly dive into this concept.
For a level to be considered horizontal support or resistance, the number of times it must be tested does not necessarily need to be a minimum of 2. It’s also dependable on the type of market conditions (trend, counter-trend, range).

Find the highest interaction levels

We tend to see the camp of traders endorsing the drawing of horizontal levels taking the candle closes as the reference.
Then we find the camp that tends to select the tails to draw levels of support/resistance from.
There is no right or wrong.
What matter here is to understand the concept of liquidity, as that will allow us to approach charts from the right perspective.

Type of rejection & what it achieves

How the price departs from a specific price point will determine to a certain degree the quality of the static horizontal level.
The more impulsivity or velocity away from a level, the more pronounced the imbalance of supply or demand it is.
That’s a universal principle of supply and demand that all market participants will immediately agree on, which may create opportunities on a retest.

Recent information

The more recent the formation of the horizontal level, the more relevant it is.
A level in the hourly chart that was formed 10 days ago may not hold as much relevance as one that just occurred in the last 24 or 48hours.
The markets are constantly evolving by adapting to new information, that’s why the further back the level goes, the less relevance potentially holds.

Cluster of levels

Whenever you face a situation in which within a relatively small range you have the potential to select several horizontal lines, don't draw multiple levels.
You want to stay away from adding complexity or in this case, a messy chart with an excessive number of lines.

Instead, as a rule of thumb, whenever you notice a cluster of levels with minimal separation, select the level that is further away from the price or alternatively, the one that has acted more reliably as key support or resistance based on the number of interactions.


Market structure

This concept is absolutely critical for you to understand.
The best trades you will even find off horizontal levels should occur in line with the dominant market structure.

Therefore, you must constantly ask yourself if the retest of a good quality area of support happens to be in the right context.
We should interpret the term context as to whether or not the market structure is favorable for a potential rejection of the level or does the current cycle heightens the risk of the level fails to hold.


When to consider a level broken

As important as it is to validate and grade a level of support and resistance where we know liquidity will be found, it’s also cardinal that we come up with some rules to invalidate the level.

To determine that, we will apply the concept of acceptance and rejection above or below the level.

Simple rule is to apply to support or resistance as broken comprises consecutive price closes past the level (minimum 2 candles in the hourly, 1 enough if daily or higher).

That's the basic.

Enjoy it.
Do not get emotional when you gain or lose.
Quoting Pat Chiko
{quote} Step into getting to identify & grade high-interest areas of S&R. Always start by zooming out the chart Start this process by squeezing your charts, so that you can visually identify the maximum number of interactions a particular area has exhibited in the past. Drawing the right levels of horizontal support and resistance and trend lines is definitely more an art rather than an exact science. It takes screen time and training your eye. Top-down analysis The higher the time frame, the more relevant the area identified becomes. You must think...
Sir, what a fantastic explanation! Your time is valuable and I thank you for giving some of it to me.
GU is standing and respecting the previous support 1.351 and BUY triggered. Late entry. me happy though.
Attached Image (click to enlarge)
Click to Enlarge Name: efdsfsds.JPG Size: 49 KB
Fools Rushing
Quoting Pat Chiko
{quote} Step into getting to identify & grade high-interest areas of S&R. Always start by zooming out the chart Start this process by squeezing your charts, so that you can visually identify the maximum number of interactions a particular area has exhibited in the past. Drawing the right levels of horizontal support and resistance and trend lines is definitely more an art rather than an exact science. It takes screen time and training your eye. Top-down analysis The higher the time frame, the more relevant the area identified becomes. You must think...
People. Learn this. Simple yet highly rewarding if you do it correctly. This is all you need to know in forex. It's a full strategy. Sometimes people chase expensive advice though the information is freely available. I fully recommend what had been described above my quote by Master trader Pat.
Fools Rushing
Quoting Pat Chiko
{quote} GU This is difficult trade to handle, both Bull & Bear are not giving up. The only thing a trader can hold at this situation is managing their risk. Nothing of what has been written up until this point will be of much practical use unless you treat with respect this little demon called ‘risk’. I guess, this battle will continue for the next 24 hours. Good luck to both Bull and Bear. May The Force Be with you. {image}
What is happening in the area pointed out is quite clear. There is some balance of price there so price is sitting comfortable and ranging waiting for an imbalance to come and for it to take off. Where it takes off to nobody knows, at least nobody in this forum. There is what is called probability. And the best trades are a question of statistical probability. Many a good trader will not enter trades at that point. They will wait for a break out to either side and enter on retest. That's a valid strategy. Another set of good traders will enter where you entered and manage risk, as you rightly said.

In any case, the forex market is far from random. It is not random. Has never been random. Will never be random. I practically know of a guy in Singapore (the Asian headquarters of those who move price. Lol...). He showed me something illegal to show anyone else: The software they use. Oh dear! All kinds of information is there. Current and limit Positions, volumes, etc is all clearly known. I will stop there. But suffice it to say that, thr best way is just what you mentioned, and that is proper risk management. No matter where one enters a trade, risk management is of utmost importance.
https://www.myfxbook.com/members/mitiblotch/mt5-10567385/9464692
Quoting Pat Chiko
{quote} I'm thinking of dropping by your place/town ( or whatever convenience place to meet), on my next trip to London. How do I want to address you ?.... As everyone here knows that you're Duke Of Salcombe, shall I address you....... "My Lord" ?, "Your Most Honorable" ?, "Your Grace" ?. "Your Excellency" ?," "His Royal Highness." ?. Cannot be possible "Your Majesty"..... ....... ( unless you wear skirt...) Should I wear full coat dressed or just jeans and sneaker ?. Thanks You Waveskie.
You can address me as " your Bearness"

Dress code :- Casual
Attached Image (click to enlarge)
Click to Enlarge Name: 037281bf720fd7c25d82c0196f629877.jpg Size: 90 KB
Soon To Be Temporarily Suspended Again
Quoting Waveskierrob
{quote} You can address me as " your Bearness" Dress code :- Casual {image}
Lol... Your Royal Bearness is better. Hahaha...

In EURUSD ONLY thread there was a time I was Bear-in-Chief. I used to pick tops to perfection and sell the hell out of it. I did some $100 to $1k then. Lol... I dont know if I still have that ability.
https://www.myfxbook.com/members/mitiblotch/mt5-10567385/9464692
GBP/USD
BUY
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDH1.png Size: 58 KB
Seek knowledge and adorn it with patience and respect; moreover, be humble
Quoting Mitiblotch
{quote} Lol... Your Royal Bearness is better. Hahaha... In EURUSD ONLY thread there was a time I was Bear-in-Chief. I used to pick tops to perfection and sell the hell out of it. I did some $100 to $1k then. Lol... I dont know if I still have that ability.
Does sound better but I'm a non royalist
Soon To Be Temporarily Suspended Again
Quoting TrickorTrade
{quote} This is how I determined my bias {image}{image}{image}
Previous Daily candle left a huge wick and maintained its bullish structure
H4 is bearish until it creates higher low have to be patient to see.

I would short it on potential daily wick fill if 156 breaks most likely. Long most likely if 156.200 or 156.500 breaks lets see
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 70 KB
Quoting TrickorTrade
{quote} Previous Daily candle left a huge wick and maintained its bullish structure H4 is bearish until it creates higher low have to be patient to see. I would short it on potential daily wick fill if 156 breaks most likely. Long most likely if 156.200 or 156.500 breaks lets see {image}
Wow My god hit 1:5 RR trade in 3 minutes!!!
I took an entry at long 156.200
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 74 KB
Quoting 19monza64
EU H1 BUY RBS 1.1288 {image}
EU H1 up date
close order 1.1336
Attached Image (click to enlarge)
Click to Enlarge Name: Cattura.PNG Size: 49 KB
I don't predict. I try to react.
2 traders viewing now