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Flying Dutchman

  • #2,781
  • Edited 7:47pm Aug 30, 2022 7:27pm | Edited 7:47pm
Quoting FulMargnAlch
Now my next problem is the intent (perhaps what you mean is the gap and fade at fair value?) Although the no-brainer buy when above sell when below is a good picture of it, do candle stick patterns matter here?
My chart contains 2 things only.

First is open lines and levels.
2nd is value intent.

It's a complicated chart because of the overlay of multiple hemispheres, dol, wol and mol. They all carry the same universal definition, the same applied across all time frames.

That's why I am able to do all that macro analysis of so many pairs in such quick time whatever time frame I switch to. I just require a glance at my phone. I watch the changing status across time as a series, both the macro and micro details. That's why the clock is important. Ofc the computer is better, but I don't waste time sitting in front of the computer all day long - chart staring pays time.

Candlestick is ohlc of one time frame. Candlestick pattern or correlation of raw ohlc data is meaningless to tell value intent - simple logic. Btw, candlestick is an indicator, the same ob/os spike indicator. Get rid of this indoctrination from your mind.

That's why I ask, what does the trader have in his toolkit to tell target levels and more important value intent?

For levels, the answer is pivot, fibs, mm...
Are you kidding?
What about intent?
Ob/os of some "indicator".

I'm sure you see the "indoctrination" problem now.
Wake up people, that's why ryuryu and RickM mock.
They shouldn't be rude, that's wrong.
Know what you trade
  • #2,782
  • Aug 30, 2022 7:48pm Aug 30, 2022 7:48pm
Quoting BWilliam
{quote} My chart contains 2 things only. First is open lines and levels. 2nd is value intent. It's a complicated chart because of the overlay of multiple hemispheres, dol, wol and mol. They all carry the same universal definition, the same applied across all time frames. That's why I am able to do all that macro analysis of so many pairs in such quick time whatever time frame I switch to. I just require a glance at my phone. I watch the changing status across time as a series, both the macro and micro details. That's why the clock is important....
Hi William,
Open lines and levels are simple to understand.
But Value intent is difficult to understand.Can you explain more with some charts?
  • #2,783
  • Aug 30, 2022 8:00pm Aug 30, 2022 8:00pm
Quoting BWilliam
{quote} My chart contains 2 things only. First is open lines and levels. 2nd is value intent. It's a complicated chart because of the overlay of multiple hemispheres, dol, wol and mol. They all carry the same universal definition, the same applied across all time frames. That's why I am able to do all that macro analysis of so many pairs in such quick time whatever time frame I switch to. I just require a glance at my phone. I watch the changing status across time as a series, both the macro and micro details. That's why the clock is important....
I see that you are not using the traditional tools like pivots, fibs, Murray's math and the like.

Thanks for the clarification as I am detoxifying myself of years of indoctrination.
The market hides a perfect geometry.
  • #2,784
  • Aug 30, 2022 8:37pm Aug 30, 2022 8:37pm
Quoting KevinZeng
{quote} Hi William, Open lines and levels are simple to understand. But Value intent is difficult to understand.Can you explain more with some charts?
Value intent is not difficult to read with open lines. Ofc there will be some that are difficult.

Take EU for example.

Monday we see a rapid rise from early day low.
The early fall is a follow through from Friday.

Surely all the effort to trade above dol testing pwol the rest of the day must mean something about intent?

But the huge plunge is going to be a challenge if market can trade above pwol. Market is still at it today, that's a lot of hours ongoing.

What can be the bottom when market register day low?
Answer - the previous low on the left?

Simple logical analysis.

Is there a difference between long trades at the bottom vs short trades at the top?

Ofc, the long trades at the bottom is inline with the value intent of the day - trades for the average joe.
Whereas the short trades are special menu for the ob/os "indicator" and volume delta geniuses - special breed.

I wrote, if you want a no hands uptodate tool, it's time series math.

The difference is a traditional hand held fan and an aircond.
Both work.
Attached Image (click to enlarge)
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Know what you trade
  • #2,785
  • Aug 30, 2022 8:43pm Aug 30, 2022 8:43pm
Quoting BWilliam
{quote} My chart contains 2 things only. First is open lines and levels. 2nd is value intent. It's a complicated chart because of the overlay of multiple hemispheres, dol, wol and mol. They all carry the same universal definition, the same applied across all time frames. That's why I am able to do all that macro analysis of so many pairs in such quick time whatever time frame I switch to. I just require a glance at my phone. I watch the changing status across time as a series, both the macro and micro details. That's why the clock is important....
It's been some interesting reading. I, like others I am sure, haven't even come close to decoding "value intent".

My beliefs anymore are trade whatever works for you and quit shitting on everybody else like some are won't to do elsewhere on this forum.

I also only have two things on my charts. Levels and targets = which, are to me, highs and lows from previous day, week, month and the current day's evolving high and low (and yes, you can learn to determine when the high or low are in place every day). oops, I meant I only have three things on my charts. The sessions are marked off. This gives me a window to trade in everyday and corresponds with the opening of the equities markets. My total chart time comprises no more than 4 hours a day.

Buy only at definite lows. Sell only at definite highs. Or areas of interest coming off a high or low, such as continuation trades. As easy as that.

I don't bother with anything else. The algo makes its intentions very clear every day.
Mark ... Everything you have been told is a LIE
  • #2,786
  • Aug 30, 2022 8:46pm Aug 30, 2022 8:46pm
Quoting BWilliam
{quote} Value intent is not difficult to read with open lines. Ofc there will be some that are difficult. Take EU for example. Monday we see a rapid rise from early day low. The early fall is a follow through from Friday. Surely all the effort to trade above dol testing pwol the rest of the day must mean something about intent? But the huge plunge is going to be a challenge if market can trade above pwol. Market is still at it today, that's a lot of hours ongoing. What can be the bottom when market register day low? Answer - the previous low on...
We do trade in a similar fashion. We just go about it in different ways.
Mark ... Everything you have been told is a LIE
  • #2,787
  • Edited 9:16pm Aug 30, 2022 8:56pm | Edited 9:16pm
Quoting KevinZeng
Hi William, Open lines and levels are simple to understand. But Value intent is difficult to understand.Can you explain more with some charts?
Is it difficult to read value intent in yesterdays one dimensional market with no options?

Today, it becomes difficult. Because market is at no man's land with no clear defined parameters, further away from wol.
There's only one way, htf value intent at play. You need heavy artillery, time series math.

Not everyday is a sunday.

Simple logical response, don't trade this pair.
Why kill yourself when it's outside your scope. Next

Keep it simple.
When market force the complication, walk away.
What's worse is to introduce complication in a simple market.
That is upon you.

Trading is not a uni entrance exam.
Some folks have this attitude.
Trade what you know, the rest of the complication leave it to the geniuses.
Attached Image(s) (click to enlarge)
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Know what you trade
  • #2,788
  • Aug 30, 2022 9:08pm Aug 30, 2022 9:08pm
Quoting spzd
{quote} It's been some interesting reading. I, like others I am sure, haven't even come close to decoding "value intent". My beliefs anymore are trade whatever works for you and quit shitting on everybody else like some are won't to do elsewhere on this forum. I also only have two things on my charts. Levels and targets = which, are to me, highs and lows from previous day, week, month and the current day's evolving high and low (and yes, you can learn to determine when the high or low are in place every day). oops, I meant I only have three things...
Thanks for the input spzd, could you show on ur charts how u mark or determine where the days low and highs are? I am sure we all will get more info if u get the chance. Thanks again.
  • #2,789
  • Aug 30, 2022 9:21pm Aug 30, 2022 9:21pm
Quoting BWilliam
{quote} Is it difficult to read value intent in yesterdays one dimensional market with no options? Today, it becomes difficult. Because market is at no man's land with no clear defined parameters, further away from wol. There's only one way, htf value intent at play. You need heavy artillery, time series math. Not everyday is a sunday. Simple logical response, don't trade this pair. Why kill yourself when it's outside your scope. Next Keep it simple. When market force the complication, walk away. What's worse is to introduce complication in a simple...
Hi BWilliam,

If U could please share the previous weekly Open Lines indicator.
  • #2,790
  • Aug 30, 2022 9:26pm Aug 30, 2022 9:26pm
Quoting whitesta
Hi BWilliam, If U could please share the previous weekly Open Lines indicator.
https://www.forexfactory.com/thread/...7#post14118697
https://www.forexfactory.com/thread/...7#post14118717
Know what you trade
  • #2,791
  • Aug 30, 2022 10:33pm Aug 30, 2022 10:33pm
There's one final part to trading.

That's the entry protocol.
I wrote about it here. Points 1-9.
https://www.forexfactory.com/thread/...6#post14108096
The entry protocol is the last layer of risk protection.

Look at this trade. I don't always follow to the dot - that's indiscipline sometimes.
Or there're reasons why I bend the rules, discard this risk protection for something else.
https://www.forexfactory.com/thread/...0#post14118600

This brings us to the topic, what initiatives do you have in place for risk management?

People use this word, but do they know what it means?
Know what you trade
  • #2,792
  • Aug 31, 2022 1:17am Aug 31, 2022 1:17am
Quoting spzd
{quote} My beliefs anymore are trade whatever works for you and quit shitting on everybody else like some are won't to do elsewhere on this forum. I also only have two things on my charts. Levels and targets = which, are to me, highs and lows from previous day, week, month and the current day's evolving high and low (and yes, you can learn to determine when the high or low are in place every day). oops, I meant I only have three things on my charts. The sessions are marked off. This gives me a window to trade in everyday and corresponds with the...
I agree, trade what works for thee. I enjoy buying more than previously as I would prefer shorting, now it's both. Evolved I might have!

Is the algo one or many and how do the banks use one algo if it isn't many?
  • #2,793
  • Aug 31, 2022 2:09am Aug 31, 2022 2:09am
It seems that different broker has different day open time in MT4. What time is the correct day open time?
  • #2,794
  • Aug 31, 2022 2:52am Aug 31, 2022 2:52am
Quoting KevinZeng
It seems that different broker has different day open time in MT4. What time is the correct day open time?
I was going to ask BW about the timezone he uses (same question). I assume it's 00:00 GMT. I know ICT uses 05:00 GMT as a "true day" open.
  • #2,795
  • Edited 3:38am Aug 31, 2022 3:23am | Edited 3:38am
Hi All,

Lots of nice posts which i am sure is helping new or inexperienced traders here. Quite a number of traders here would like to trade on a part time basis due to work commitments so they may like to understand trading on 4hr or Daily timeframes. Just like most i did not understand some details regarding over value and under value of currencies or value intent. In basic terms as they say buy above DOL and sell under it. Same maybe for WOL and MOL for higher timeframes. The other issue is that the stop loss will be bigger for higher timeframes. I was just looking at EUR/JPY daily chart and placed WOL, MOL, PWOL, PMOL and targets. BWilliam had said that these are needed to identify value intent or whether it is over or undervalued and when it may re evaluate. Since we all are trying to understand better way of trading and not just follow the indicators blindly it would be good if others here or anyone keen try and identify the above mentioned or where is the price most likely to end up maybe sometime next week or further down down in the month of September as its a Daily Chart. Targets are where the price must go (which one and when is what we all are trying to pinpoint). Also how it gets there, by taking out stops on the other side which are 100, 200, 300 or more pips before getting to the intended target. This way it will be taking out targets on either side. Which one first is what we all are trying to understand. I have put up the chart with whatever i have understood from this thread. All are welcome to put their points, identify zones, targets, predict or whatever. Good way to learn i guess.
Attached Image (click to enlarge)
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  • #2,796
  • Aug 31, 2022 3:31am Aug 31, 2022 3:31am
Quoting whitesta
Hi All, Lots of nice posts which i am sure is helping new or inexperienced traders here. Quite a number of traders here would like to trade on a part time basis due to work commitments so they may like to understand trading on 4hr or Daly timeframes. Just like most i did not understand some details regarding over value and under value of currencies or value intent. In basic terms as they say buy above DOL and sell under it. Same maybe for WOL and MOL for higher timeframes. The other issue is that the stop loss will be bigger for higher timeframes....
Yes - I need all the help I can get
My interest is the 5 or 1 minute time frames using higher time frames for analysis
Great stuff on this thread - some of which I understand
But I keep on trying to learn and grateful for any help offered.
every Saint has a past. Every Sinner has a Future
  • #2,797
  • Aug 31, 2022 4:33am Aug 31, 2022 4:33am
Quoting Pumi
I was going to ask BW about the timezone he uses (same question). I assume it's 00:00 GMT. I know ICT uses 05:00 GMT as a "true day" open.
Hi Pumi, it's 00:00 GMT.
Know what you trade
  • #2,798
  • Edited 5:29am Aug 31, 2022 4:54am | Edited 5:29am
Quoting whitesta
Hi All, Lots of nice posts which i am sure is helping new or inexperienced traders here. Quite a number of traders here would like to trade on a part time basis due to work commitments so they may like to understand trading on 4hr or Daily timeframes. Just like most i did not understand some details regarding over value and under value of currencies or value intent. In basic terms as they say buy above DOL and sell under it. Same maybe for WOL and MOL for higher timeframes. The other issue is that the stop loss will be bigger for higher timeframes....
Hi whitesta, we all know there are many ways to trade. And there are profitable traders with every strategy conceivable. The conversation should never be about the better way. But it's a habit on FF to move the conversation towards better way. We're are all level headed adults, don't want to waste time with mine is the better way, my way or no way and I'm the top gun. We have families and responsibilities, we don't have time to waste.

Here's the thing that serious adults who wish to speculate this forex market to make money has to think about,

It's not about nice perfect entry on the m1 chart right at the tip of the m1 candle that give the perfect picture.
It's not about fantastic win rate.
It's not about amazing out of this world returns.
It's not about amazing trade signals.
It's not about making money, (repeat)not about making money.

It's about not losing our money.
It's about protecting our money.
It's about security in this risky speculation business.
It's about survival in the long term.


It's about risk management.

Safety and security first, before making money.

Talk about how to avoid losing our money.
This should be the number one topic for forex trading.

That's why Kev(Bluesteele) is spot on correct when he wrote the best loser wins.

However, I take issue with the perception what this best loser means.
It's sounds like a competition.

No, it's not a competition.
It's about survival. It's about being safe.

The conversation is about safe forex trading.
Think about what I'm saying.

And safety means risk management.
Risk management is not money management.

Lets hear what members have to say about risk management, safe forex speculation.
Know what you trade
  • #2,799
  • Aug 31, 2022 5:06am Aug 31, 2022 5:06am
Quoting BWilliam
{quote} Hi Pumi, it's 00:00 GMT.
Hmm..forex opens at 5pm NY time on a Sunday?
To avoid a Sunday candle on your charts, a lot of MT4 brokers count that time as their Sunday midnight (i.e. EST + 7 hrs)
In the UK my broker chart time is 2hrs ahead of normal time (we are on BST at mo ..so broker is 3hrs ahead of GMT).

Looking at your charts, I was under the impression that your opening price lines and time stamp are the same as my MT4... therefore that would be GMT+3 ?
  • #2,800
  • Aug 31, 2022 5:09am Aug 31, 2022 5:09am
Quoting Danger-Mouse
Hmm..forex opens at 5pm NY time on a Sunday? To avoid a Sunday candle on your charts, a lot of MT4 brokers count that time as their Sunday midnight (i.e. EST + 7 hrs) In the UK my broker chart time is 2hrs ahead of normal time (we are on BST at mo ..so broker is 3hrs ahead of GMT). Looking at your charts, I was under the impression that your opening price lines and time stamp are the same as my MT4... therefore that would be GMT+3 ?
Thanks for pointing it out. It's gmt+3, according to the timezone I live it's gmt+8.
Know what you trade
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