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Flying Dutchman

  • #2,141
  • Jul 8, 2022 11:23pm Jul 8, 2022 11:23pm
Quoting BWilliam
{quote} If there's a bad breaking news like the one from Japan, scalpers can be caught in a large sudden flip if there's too large leverage.
Chance a scalper takes. Chatting about that earlier with Pete.
  • #2,142
  • Jul 8, 2022 11:26pm Jul 8, 2022 11:26pm
Quoting moodybot
Chance a scalper takes. Chatting about that earlier with Pete.
That's gambling. Worse than losing the bankroll at the casino or at the races. This might lose the gambler's entire networth and more. It takes big money at risk to make big money.
Know what you trade
  • #2,143
  • Edited Jul 9, 2022 12:09am Jul 8, 2022 11:49pm | Edited Jul 9, 2022 12:09am
Quoting bluesteele
.... and if you think you can outsmart or match Wallstreet Quants with a 2 bit mt4 or python script....your delusional. Sorry but thats the hard truth.
I've read plenty of these type of ideas on various forums. It's always some magical indicators that give the arrow and sound alert signals. Automated trading with expert advisor, make money while you sleep. Add on a few zeroes to the account and people believe, never fail to attract the crowd. I use to make those arrow alerts too.

Posted one arrow alert on 1m chart below. Can create this on any timeframe, no repainting. But trading arrow signals is not trading, it's gambling. Mindlessly put on trades when the arrow alerts. Better still make a EA to trade those signals with money management. How nice can still make money in the last hour of the week.

This is the type of stuff that attract people. That's how scammers work.
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Know what you trade
  • #2,144
  • Jul 9, 2022 12:02am Jul 9, 2022 12:02am
1,001,703,590.58 US Dollars LOST in my country this year because our people dreaming about make money without work and make money while sleeping.

BIG case but more silent day after day.

The Bot are :
1. Fahrenheit Robot Trading
2. Pansaka (Auto Trade Gold 4.0)
3. Bot Trading DNA Pro
4. Binomo
5. Bot Trading Viral Blast

Conformity bias refers to our tendency to take cues for proper behavior in most contexts from the actions of others rather than exercise our own independent judgment.

FOLLOW SOME-ONE
and die beautifully

only small money
and adding that with crypto worshiper
its getting more loss like snow rolling
  • #2,145
  • Jul 9, 2022 12:11am Jul 9, 2022 12:11am
Just random lines... Not my charts...not taking credit for these charts...They come from a very seasoned professional trader...
Only highlighting....Patterns...lines etc.. But hey what does he know Hes only made 50%+ per year for 50 years off of
classic chart patterns....Lines Rectangles..etc.......shhhhh dont tell the Delta "boys" that these work on crypto too!

Patterns prevail in the markets... Age old Classical basic patterns...
Learn & focus on few setups and have faith that these setups will repeat again & again.

"I believe my most important skill is an ability to perceive patterns in the market."- Linda Raschke

"All you need is one pattern to make a living.” - Linda Raschke

“Patterns repeat, because human nature hasn’t changed for thousand of years." - Jesse Livermore

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Master your Mind,,,Master the Market
  • #2,146
  • Jul 9, 2022 12:13am Jul 9, 2022 12:13am
Quoting bluesteele
I have to say I think Peter Brandt is talking directly to you ryuryu ! Fits like a glove id say https://twitter.com/PeterLBrandt/sta...eNuBbDxNn1C-mw {image}
Very fitting tweet, I'd say.
I wonder who's more credible: one of the very-well respected, long-time traders who's been in this game more than 40 years, trading with technical analysis.... or some random nobody on a forum that spits out foolishness like "forex is a scam" and has obvious psychological issues with "drawing tools".


BTW, I would recommend the Chat With Traders episodes with Peter B., as well as the latest market wizards book (he's the first chapter), all quite interesting. And sometimes it's nice to cut from the kind of crap you read too often on FF and go back to the basics in these podcasts.

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  • #2,147
  • Jul 9, 2022 12:13am Jul 9, 2022 12:13am
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Master your Mind,,,Master the Market
  • #2,148
  • Jul 9, 2022 12:19am Jul 9, 2022 12:19am
i
Quoting Oliver.Twist
{quote} Very fitting tweet, I'd say. I wonder who's more credible: one of the very-well respected, long-time traders who's been in this game more than 40 years, trading with technical analysis.... or some random nobody on a forum that spits out foolishness like "forex is a scam" and has obvious psychological issues with "drawing tools". BTW, I would recommend the Chat With Traders episodes with Peter B., as well as the latest market wizards book (he's the first chapter), all quite interesting. And sometimes it's nice to cut from the kind of crap...
So refreshing to read some Common Sense !! and yes the first set of charts I posted are all from Peter....An AMAZING TRADER !

Chat with traders has many many excellent interviews...I havent heard Peters Or forget if I did lol...But thank you for mentioning it...
Will listen this weekend....

https://chatwithtraders.com/ep-036-peter-brandt/


Cheers !
Blue

Edit : HAHA I see the H&S pattern is in profit dont tell the crypto geniuses !!!! thank you for the updated chart !!!!
Master your Mind,,,Master the Market
  • #2,149
  • Jul 9, 2022 12:27am Jul 9, 2022 12:27am
B William - I use dol as a marker to tell me whether market value the currency pair higher or lower compared to the Open. I track market mostly on the m15 chart, so at Frankfurt open and beyond I can't see what's the daily open price. I could use M-candles but I don't want to colour the chart with the daily candle, it looks messy, I prefer a clean chart with one line as a marker, ie. dol. I can't use M-candles on my phone so I draw a horizontal line.

In mt4 there is this option that fits unobtrusively on the right hand side of the chart and I guess other charting platforms have similar.
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  • #2,150
  • Jul 9, 2022 12:28am Jul 9, 2022 12:28am
Quoting bluesteele
i{quote} So refreshing to read some Common Sense !! and yes the first set of charts I posted are all from Peter....An AMAZING TRADER ! Chat with traders has many many excellent interviews...I havent heard Peters Or forget if I did lol...But thank you for mentioning it... Will listen this weekend.... https://chatwithtraders.com/ep-036-peter-brandt/ Cheers ! Blue Edit : HAHA I see the H&S pattern is in profit dont tell the crypto geniuses !!!! thank you for the updated chart !!!!
There're plenty of desperate people hoping for a miracle from trading bitcoin, it's a craze. If the member show some magical indicators and dashboard, lots of zeroes to the account there're sure to be plenty of people begging to get hold of those indicators at whatever price. I've seen people hand over thousands to online scammers. And this continue to happen - not something new.
Know what you trade
  • #2,151
  • Jul 9, 2022 12:41am Jul 9, 2022 12:41am
I was watching bitcoin this week. Compare the call I made on 14June with the open and close for this week.
https://www.forexfactory.com/thread/...8#post14031208

I've made plenty of these kinds of post. You can see there's no volume traded yet.

The message I want to tell you traders is, market trades in a controlled and tightly supervised environment.
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Know what you trade
  • #2,152
  • Jul 9, 2022 1:03am Jul 9, 2022 1:03am
Quoting TimeTells
NOW Do you have the data please, it was such a simple question to you.
Sorry but I have no time to read all the meaningless posts you made. You never provide any data to analyze so for me your posts looks like blah-blah-blah. So I just skip em.
That's why I missed your question. I'm not interested in curve fitting, drawing tools, luck and all the magical powers you are using here to pick great entries. I'm interested in common sense and math. But there are no such a data in this thread.

And I didn't get what you asking me. Yes I have real-time live data from several crypto exchanges.
I store the data in the database so of course I can rewind back and see if there was any opportunity to trade.

But I see no big purpose of that. Because IF you entered your trade (depends on size) then the picture now will be another. It will NOT be the same. Changing something in the past DO change the future.

Simulate trades on static data from the past can be used only to check(test) bot logic, like if your new TP setting works good or if there is any issue with it. It is useless to check your strategy potential because of curve fitting issue (the thing you do with your lines, placing them in the past in good places and not placing them at bad points).
Observer effect
  • #2,153
  • Jul 9, 2022 1:10am Jul 9, 2022 1:10am
Quoting BWilliam
I was watching bitcoin this week. Compare the call I made on 14June with the open and close for this week. https://www.forexfactory.com/thread/...8#post14031208 I've made plenty of these kinds of post. You can see there's no volume traded yet. The message I want to tell you traders is, market trades in a controlled and tightly supervised environment. {image} {image}

As I see it BWilliam

Price will go to a set target defined by the Algo!

The journey to that target is a balancing act between the Algo and the trading fraternity.

A trader places a trade, at that exact moment he/she is top of the pyramid, the Algo matches the trade, and price moves against.

The Algo will control and match subsequent trades but ultimately has to achieve the set target.

Knowing that the Algo has to conform to certain control conditions, that is where an edge can be found.

Layman’s way of looking at this intriguing highly controlled, organised entity!

Andy
  • #2,154
  • Jul 9, 2022 1:13am Jul 9, 2022 1:13am
Quoting BWilliam
I don't believe that markets move price up and down to hunt stops.
Because you don't understand how market works. And you never traded for big company. But I did.
But in fact there is no need to trade for big company to understand that only market orders move the price.
Observer effect
  • #2,155
  • Jul 9, 2022 1:18am Jul 9, 2022 1:18am
Quoting ryuryu
{quote} Sorry but I have no time to read all the meaningless posts you made. You never provide any data to analyze so for me your posts looks like blah-blah-blah. So I just skip em. That's why I missed your question. I'm not interested in curve fitting, drawing tools, luck and all the magical powers you are using here to pick great entries. I'm interested in common sense and math. But there are no such a data in this thread. And I didn't get what you asking me. Yes I have real-time live data from several crypto exchanges. I store the data in the...

That’s based on your volume only controls the market.
Placing a trade will change price but price still has to achieve preset targets which is a concept you just haven’t considered.
Assuming Pete placing a trade would affect the outcome of your chart as to make it unusable now would only stand if price had no preset targets to achieve.
Explain how price moves after you take a trade.
You can’t!
Price heads to targets whether you like it or not.
  • #2,156
  • Jul 9, 2022 1:19am Jul 9, 2022 1:19am
Quoting ryuryu
{quote} Because you don't understand how market works. And you never traded for big company. But I did. But in fact there is no need to trade for big company to understand that only market orders move the price.
You traded for a big company?
Excellent, who for and when.
  • #2,157
  • Jul 9, 2022 1:33am Jul 9, 2022 1:33am
Quoting moodybot
{quote} That’s based on your volume only controls the market. Placing a trade will change price but price still has to achieve preset targets which is a concept you just haven’t considered. Assuming Pete placing a trade would affect the outcome of your chart as to make it unusable now would only stand if price had no preset targets to achieve. Explain how price moves after you take a trade. You can’t! Price heads to targets whether you like it or not.
yehaaaw
  • #2,158
  • Jul 9, 2022 1:35am Jul 9, 2022 1:35am
Quoting moodybot
That’s based on your volume only controls the market. Placing a trade will change price but price still has to achieve preset targets which is a concept you just haven’t considered. Assuming Pete placing a trade would affect the outcome of your chart as to make it unusable now would only stand if price had no preset targets to achieve. Explain how price moves after you take a trade. You can’t! Price heads to targets whether you like it or not.
Hi Andy, it's hard for people to believe what you wrote. But it's what it is.

I have to posts all these pics to show the preset targets that were already there before a single trade was executed.
That's why I post them.

People have to understand this. Imagine if the trader knows this in advance.
Quoting moodybot
Knowing that the Algo has to conform to certain control conditions, that is where an edge can be found. Layman’s way of looking at this intriguing highly controlled, organised entity! Andy
Know what you trade
  • #2,159
  • Jul 9, 2022 1:43am Jul 9, 2022 1:43am
Quoting moodybot
{quote} That’s based on your volume only controls the market. Placing a trade will change price but price still has to achieve preset targets which is a concept you just haven’t considered. Assuming Pete placing a trade would affect the outcome of your chart as to make it unusable now would only stand if price had no preset targets to achieve. Explain how price moves after you take a trade. You can’t! Price heads to targets whether you like it or not.
That's over his head Andy....Cmon give the kid an easy one...

Like....

RyuRYu,,,
Do you believe Head & Shoulders patterns work? (no not the shampoo silly)
asking for a friend named Peter

I will go on record that they do work...My friends curious as to what a crypto savant like you thinks......

Cheers
Blue

PS Hey Ryu,,,,nice July statement,, not like those prop firm scams eh !
Master your Mind,,,Master the Market
  • #2,160
  • Jul 9, 2022 1:48am Jul 9, 2022 1:48am
Quoting BWilliam
{quote} Hi Andy, it's hard for people to believe what you wrote. But it's what it is. I have to posts all these pics to show the preset targets that were already there before a single trade was executed. That's why I post them. People have to understand this. Imagine if the trader knows this in advance. {quote}
Thanks J

I don’t see the market functioning any other way! Once volume comes in, yes the market reacts, to that trade entry, but then what.
For me the volume theory breaks down at that point and I haven’t heard a suitable explanation as to what happens next!

Cheers
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