Flying Dutchman

Nice post Ihlas, you summarised everything in one short post.

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There're 2 points to clear up that keep coming up.

For real life context let's assume the housing market.

Do house price go up because the property valuers recalibrate the latest value upwards that nudge up the loan quantum or there were more buyer volume at current price?

Do house buyers expect their house value to rise, stay or fall at the time they sign the dotted line to their new property?

There're are 2 v's, volume or value that the house buyer use to make his decision. Which v do house buyers do track when we bought our property?(we're not stupid when we bought our property, strange we turn stupid in this Forex market. That's why I wrote I stopped thinking stupid that changed everything for me - watch the valuer.)
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Ihlas wrote "assuming every HH, LL, etc as targets is wrong".

Lets look at the property market again. Some property speculators look at long term future value and when such prized properties come on the market they collect them.

It's common knowledge that there're many who gamble on the hot property market flipping property with no real money(taking advantage of the system). Ofc make a lot of money doing this, changed their lives. We also know there're many who got badly burned that one time that changed their lives as well. That's why many chose not get involve eventhough we have the money.

Ihlas wrote, "Let's eliminate short targets."

Some people are far sighted, some short sighted.
Different strokes for different folks.
Our trading tells a lot about us.

Enjoy the weekend. Cheers

Just some extra Tomales

(ie Food For Thought)


How our markets are running can often determine trade accessibility

For sometimes a higher or lower profitability factor on that day.

Can we get 67 pips in a 160 pip adr daily move.

Can we get 140 pips in a 110 pip adr daily move.


Is today a Hot or Cool volatility day?

Be flexible, know your market, act & trade according to its current dynamic.

.

Hi Pete, it starts with the trader thinking about it and setting such a profit target for himself, and consciously move away from shorter targets. Traders don't have to set this one trade a day rule. Traders can start with one 50pips trade a week.

This will change the paradigm of the shorter profit target mindset. Over time, with more live market experience, the trader can gradually improve towards 50pips a trade once a day.

There's no point for me to list down the reason, the benefits and why not this longer targets that Ihlas proposed - It's just a theoretical explanation that has no meaning. The trader has to learn this by doing it to change himself. What he will gain is more than just this 50pips profit. Do it to gain a new mindset and see this market with a different "spectacles". This market will then open up to the trader in an unbounded manner.

If the trader trades with 50pips profit target there's real reason why he does not partake in smaller profit targets. In most cases, it's the other way round, shorter profit targets with the occasional runner. Cheers

Edit - 50pips target is not an absolute number, it's a reference to larger targets.

Hi Jason,
Nice work.
Yes this is very good style for once a day trader for sure. Excellent.
Also to trade for 140 pips (profit over & above comm+spr) within a maximum 110 pip adr day is another form of boundless mindset. Just different trading.
Trading to current market dynamics by not waiting for market to provide our prefered dynamic is another concept.

Which one should be eliminated first?
I say Target 2 will be eliminated first. Anyone?

Target 1 until further notice.

Spot on, in fact target is Monday's High

Hi Folks,

These trades are NOT shown to prove any point about trading. Not my purpose, never has been.

These charts are just another view of (someone’s) trading
BUT
More importantly the Market Mechanics.

And no one way is the best way of trading.
Usually it is just what we are happy with ourselves, and which meets our personal trading needs.

Are these skilled trades from a skilled trader. Using scouts and scaling in .... NO!
They are just probability trades (and most days can follow a similar theme)

When a 1DY chart & 1hr chart are IN alignment, then its all one way traffic trading WITH the market


Things to notice on the chart, forget profit & only glance at entry points (as each trader will have their OWN entry).

Look at market behaviour - AFTER trade is entered (price runs against trade)
then
Look at market behaviour - AFTER trade is closed (price runs harder with original trade direction lol)

Do similar things happen to other traders, who knows not me.


I also call these and other happenings Market Behaviour, and they all occur within the Market Mechanics.

There are definitely “better” ways to trade, I have seen many great charts & trades on this thread, LOOK FOR THEM.

But, there definitely is not just ONE way to trade the markets or one way is the best. Just what is best for us.

Holidays are coming up very soon. I can almost taste them lol


.

Hi Timetells,

Beautiful trade with extra entries. I also got a trade but in totally different direction. It did work out though. Price now has just broken the Fridays high. On the button and reversing slowly. All well structured. Not random at all. Algo or whatever it works well.

Trade well all.

Hi W,

I like your trade better I reckon

I came in a little too late to the charts from being outside in the sun playing with the dog lol.

Again shows, no ONE way is best, IF, we trade with the market dynamics to our own probability settings.

Your chart is well explained as i read it, very nicely done.

Good Morning Pete
How r u i hope you & your family are doing well with good health
Will this target theory work on option trading as in option price should move fast to get nice premium
In case price consolidate after trade entry premium decay

This is my opinion about a subject matter that's important to the development of the trader. And this has to be pointed out.

Ryu, Rick don't believe in magic lines, their opinion. They don't believe anyone can predict the future,its simply guessing with no real data. Regular posters on this thread don't believe in the need for volume delta. Fundamental analysis is a large part of GEfx strategy. Some of us trade rule based strategies. Some are discretionary traders.

Some of us believe all these strategies are junk.
Some of us believe all these strategies work, it's the trader that's junk.

We contradict each other.

There're many areas we contradict each other.

Some of us take offence.
Some of us feel the need to defend our opinion.
Some of us feel the need to change the other party's opinion.
Some of us mock show anger, and quarrel.

What's at the core of all these quarrels?

Contradictions.

The cause of contradictions is we have not framed these contradictions into a common acceptable definition. Let's divert all these contradictions that divide us to a place where we define the conversation.

The conversation is not about this member is a great trader, his results.
The conversation is not about this great strategy, example 90+% win rate.
The conversation is never about the better trader, or the better strategy.
Big dick conversation is for kids.

The conversation is about,
"where is the edge on the chart?"

There are 10,000 strategies posted on FF.
All these strategies trade on 10,000 spots on the chart.

Which of these 10,000 spots on the chart lie the edge?

Do you believe all 10,000 spots on the chart hold the edge, it depends on the trader.... therefore the trader is the edge..... doesn't matter where he trades?

Or,

Do you believe not all 10,000 spots on the chart hold the edge?

I wrote many times, our belief is at the core of trading, it guides us in every way. What we write tells about us.

When someone tells about what they do that's different from mine, I think if I can learn something from them, have I missed out something?

When someone calls out my posts as bs, I try to figure out why.... what offended him, perhaps he's correct from his point of view, I might have missed out something. Or I was pulling the chain.

I maintain the attitude to improve myself always - use others to do that. No offence taken ever, I welcome contradictions, the more the better.

We must have this serious conversation, at least with ourself,

"where is the edge on the chart?"

Anywhere, somewhere, nowhere.

Therefore, we must answer this question, at least to ourself, which strategy(ies) that trade the edge?

Are there 10,000 ways to skin the cat?

Do all roads lead to Rome?

This must naturally lead to,

Which is the most efficient(best) road to Rome?
(someone answered it this way, I don't have a RollsR so I take the "fill in the blanks)

Cheers

Edit - this conversation can be easy to some people. Very difficult to impossible to some people. I refer to the reply to Bilal last year about ego, fear and greed that we allow to block our progress.

Hi V,

I am very sorry but I have no experience trading options so I cannot comment.

Please understand also that Target Theory is just one part of the total Market Mechanics & Market Behaviour of currency trading that I am familiar with.
I look at the market as a composite not in its parts. (While I only trade in its sectioned parts).

By that I mean NO target encourages me to take a trade (now) if you know what I mean.
There is much more to trading than whether the market wants a target right now.
Often that means the time of day (ie sessions etc) that targets get stretched for, some waiting up to 7 hours before such a move to the target is made.

I believe we should all learn to look at the market at its largest component and its biggest picture first.
I myself only trade in a small pocket of that larger picture, but I have made it home for me.

I wish you good fortunes with option trading and hope someone can advise you better from their own experiences with that particular medium.

Hi Buesteele in post 2325 in the screenshot you speak of "TIME"
What do you mean with time ? The TF or other ?
Thank you very much.

AUDNZD/closed
Where is the edge? At the borders of the screen

Hi All,

Couple of trades taken early London Session. Both GBP/JPY and GBP/USD looked to be at the extremes for a hook back or to reset for another run. Notes on the Chart,
Not sure if the setup was perfect but it worked out. Profit taken just near the target. I have seen that its good to set profit 4 or 5 pips before the actual target to be on the safe side.

Hi Ilhas,

Any particular reason you placed those buy orders there and not at other swing lows above or below?

Hi whitesta,
I think BWilliam explained about recalibration previously in his posts, it's just moving from upper limits to lower limits. And I don't know how to explain it if somebody doesn't have foundation, if you understand why EU rising, you will understand it. Again somebody needs to make a lot of mistakes and research to understand.
Look at the US30, where will be the final break, UP or DOWN, to know that again needs time or money. Either you spend your time or pay the money (it's not guaranteed you will get what you want from your mentor).

Ihlas, your reply here seems to differ from your original post.

Your image shows what appears to be marked up as you going for target 2, In fact in the original post you say "Target 2 will be eliminated first". What is your idea of elimination?

You have Target 1 and Target 2 marked yet your actual target is Monday's high, not marked, obviously we have to go through target 1 to get to Mondays high. I would think your image would look something like this based on your recent statement that you are going for Target 1 and Mondays high. Took this image on Market Open (Sunday).



BWilliam replies to your question with Target 1 and you agree with him but you originally you said Target 2?

Confusing statements, maybe you can clear them up?

Either way, hopefully you are making some $. Here we are late US session, trading off the highs.

Enjoy the trading sessions to come!

-E

Hi HTG,
Yes, it's very confusing. The reason is I don't see Target 1 as a real target (It's secondary target even it should be broken first). Monday's High is real target, but not important than target 2 eliminated. Monday's H is just balancing work. I hope this clears up everything and makes sense. Everything is my interpretation, it might not be true for anybody else.