Sang Real Notes | Page 3 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

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

Real traders, real money 80 replies

SanG system 2 replies

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

Real trades in real time 23 replies

Attachments: Sang Real Notes
Exit Attachments

Sang Real Notes

  • #41
  • Edited Jul 17, 2022 12:02am Jul 16, 2022 11:47pm | Edited Jul 17, 2022 12:02am
WEAK HIGHS / WEAK LOWS.

Markup showcasing the idea behind building a story for entry.

"They can be a really powerful tool to have within your trading plan, and when applied correctly they can help massively with understanding direction, and also which POI's could be likely to fail, or succeed."
Attached Image (click to enlarge)
Click to Enlarge Name: Weak low high.jpg Size: 45 KB
Attached Image (click to enlarge)
Click to Enlarge Name: weak low chart.jpg Size: 144 KB


Study.
Practice.
Repeat.

Done on a loop = skill development.
Keep things simple for yourself while remaining patient.
I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #46
  • Jul 17, 2022 5:29pm Jul 17, 2022 5:29pm
Just registered to say thank you
I have been developing my own trading method for the past two years and in this journal you explain the same principals that I use. Slightly different wording but still the same. Big confirmation for me that I am on the right path. Thanks again and keep up the good work.
  • #47
  • Edited 6:10pm Jul 18, 2022 2:30pm | Edited 6:10pm
Quoting Svetul4o
Just registered to say thank you
I have been developing my own trading method for the past two years and in this journal you explain the same principals that I use. Slightly different wording but still the same. Big confirmation for me that I am on the right path. Thanks again and keep up the good work.
@Pat Chico....Your doing both the veteran and novice trader a real service by posting your thoughts. We often get into a rut of sorts doing the same thing over and over only to find profit, or the lack of it because we fail to see the big picuture. Anyway I just wanted to personally thank you for all your efforts.

I had to overcome one problem that seemed to follow me too often. I can identify strong areas of support and resistance, order blocks, stop hunts etc,. but when entering on a 4 hour chart say, I would have to place an appropriate stop, sometime too far away from price, only to get stopped after holding a day or so.

I found that if I stay and only enter on a 1 min chart, like the one below, I can be twice as effective and the risk is so much smaller. Now, this is not swing trading, but scalping in very short timeframes, as I have become more of a day trader.

Anyway, just my 2 cents....if this post is not appropriate, or you wish to keep your journal to your posts only, please say, I will delete...

Ingvar.
Attached Image (click to enlarge)
Click to Enlarge Name: where to place stops.png Size: 30 KB
  • #48
  • Jul 23, 2022 4:26am Jul 23, 2022 4:26am
Question : My question is, how do you integrate fundamentals accurately?
Do you mind explaining?
Also, what books do you recommend to become wise like you?
On that note, I look foward to your response.


There is two primary types of market analysis:

Fundamental.
The collection and evaluation of market news that may affect peoples perception of a currencies value and forecasting the aggregate probable effect that it should have on a markets direction.

Technical.
This is about using a variety of mathematical and visual tools to make quantitative measurements in order to evaluate historical price changes through time.

TA (technical analysis) is based on the premise that the aggregate of all pertinent fundamental information is reflected in changes of market price.
TA attempts to determine the probability of whether a market will continue in a direction or change direction by isolating potentially useful measurements of price changes into recognizable patterns and assigning degrees of significance to one sort of pattern over another.

Fundamental analysis can be used both as a short term and long term trading approach.
Many traders get started by trading news releases and letting the market direction after a news item serve as an indicator of market supply and demand.
Other traders take much longer term views and do complex forecasts of a currencies underlying financial stability and propensity to be affected by various kinds of events.
Such approaches may lead a trader to buying or selling a currency against another for several years or as little as a few seconds.

In many forum there is some scattered discussion of fundamental analysis but what you'll find is mostly TA.

That is true for a variety of reasons that are beyond the scope of this post.
About 10 percent of traders who use TA are able to trade profitably and probably 10 percent of those 10 percent are able to make serious income from it.
To excel in this field the odds are about the same as excelling in any field (about 1 percent) but the odds of just making a living at it are much much lower than in most fields.
There is not much to say about TA except that it is popular.

The fact that it is the method of choice used by the 90 percent of retail traders who never trade profitably may be a bit unnerving until you also note that (at least in recent years) it has also tended to be the method of choice among the 10 percent of retail traders who do make a profit at this.


Lastly some traders combine the two. (Will continue in next post)..........
I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #49
  • Jul 23, 2022 4:43am Jul 23, 2022 4:43am
cont/-

In fact some of the most successful traders combine the two.

As far as we are aware price movements in Forex generally occur because of some event in the outside world, whether it be a news announcement, election, storm, oil prices taking a hike... or whatever.

Remember Fundamental Analysis is the analysis of economic indicators and political and current events that could effect the future direction of financial markets.
One of the most interesting parts of forex is how news and price relate to each other.

There may be a news release which is very bearish for the dollar (much worse than consensus).
So you'd expect the dollar to weaken against other currencies.... well, sometimes it does the complete opposite.

Things start to become clearer when you understand the various players and see how forex operates... maybe go to the FED Reserve website and read their ebook... it gives a good intro.

A mistake many newbie made initially was to look at forex exclusively from a speculators point of view, which limited our understanding of how the market moves.
In past market moves were usually caused by fundamental factors, such as purchasing power parity, interest rate parity surplus/deficit of payments balance etc.

BTW with one single post , I cannot teach you how to use fundamental/technical in tandem for analysis.
Regardless it is a good idea to develop a healthy immunity to the marketing schemes that you'll find everywhere with very compelling advertisements that give you the impression you can buy their system or signal service and make money right out of the gate.

Probably the best value you can get in learning this business is from a few of the myriad of books out there for traders.
This two books is a good place to start.
Attached Image (click to enlarge)
Click to Enlarge Name: Market Wizard.jpg Size: 38 KB
Attached Image (click to enlarge)
Click to Enlarge Name: Th New.jpg Size: 55 KB
I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #50
  • Jul 31, 2022 2:46pm Jul 31, 2022 2:46pm

Our behaviors are usually a reflection of your identity.

What you do is an indication of the type of person you believe that you are-
either consciously or non consciously.


Attached Image (click to enlarge)
Click to Enlarge Name: behaviour.jpg Size: 84 KB



I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #51
  • Sep 19, 2022 11:57pm Sep 19, 2022 11:57pm
C O M P R E S S I O N

Compression is the term every trader should understand.
Reading the price is most important in the technical analysis of forex trading.
Attached Image (click to enlarge)
Click to Enlarge Name: compression.jpg Size: 149 KB


The price will go up when there is demand.
The price will go down when there is supply.
What will happen when there’s no demand left but only supply?
What will happen when there’s no supply left but only demand?.
Compression is related to this topic.
Attached Image (click to enlarge)
Click to Enlarge Name: compression 2.png Size: 109 KB


When the price is moving slowly up as well as consuming all the demand on the way then there will be no demand left until the origin of this pattern.
As there is no demand so large amount of supply will cause the price to come straight to the origin of this pattern without any hindrance.
This pattern is the main reason behind a large bearish candle or big price movement in a very short interval of time.
This is called compression or CP.


The compression zone is the gap or space.
Like when the price will enter in space it will automatically come to the next end of space.
Now let me tell you in the terms of supply and demand.
When there’s no demand, the price will go down only and with high velocity.
Like in the chart above, the compression zone shows that there’s no demand in this zone so when the price entered that zone it came straight to the other end of the zone with high velocity.
This is the main point of compression in forex trading.
I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #52
  • Sep 26, 2022 8:59am Sep 26, 2022 8:59am
Quoting Pat Chiko
Circular economy is how people in the past centuries survived and thrived and had beautiful homes. Did we become too lazy or ignorant? {image} It’s the inevitable result of capitalism. A wasteful, throwaway culture that requires consumers to endlessly consume. We became capitalistic. There's little private profit in re-use and recycle, except for fixed goods. Even there, the capitalist paradigm is to destroy and build something new (though not necessarily better).
This is a good illustration of what is going on in my country now... unfortuneately.... I remember my grandma and my parernts saving & resuing everything (They were from the Depression era) I have tried to keep those same habits. My wife grew up in El Salvador where they did the same thing. A pari of shoes go worn out on the soles, they take them to a shoe repair person to put on new soles. My daughter & her husband; they just buy and throw away & buy again... It really is sad I think. But it is true...
My Future is so Bright I gotta wear Shades! https://www.youtube.com/watch?v
  • #53
  • Oct 5, 2022 5:33pm Oct 5, 2022 5:33pm
Trading Psychology Hack:

don´t look at your account results, and don´t set result targets.
Yes, this is counter intuitive and different from what you´re normally taught... but bear with me (no pun intended).

cont/-
I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #54
  • Oct 5, 2022 5:34pm Oct 5, 2022 5:34pm
Quoting Pat Chiko
Trading Psychology Hack: don´t look at your account results, and don´t set result targets. Yes, this is counter intuitive and different from what you´re normally taught... but bear with me (no pun intended). cont/-
As a trader, I found out that focusing only on following a set of winning strategies consistently, brings me the best results.
But usually we are taught that you must have daily/weekly targets for profits or losses, and stop when they are reached.
IMHO, that´s lousy advice.

cont/-
I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #55
  • Oct 5, 2022 5:34pm Oct 5, 2022 5:34pm
Quoting Pat Chiko
{quote} As a trader, I found out that focusing only on following a set of winning strategies consistently, brings me the best results. But usually we are taught that you must have daily/weekly targets for profits or losses, and stop when they are reached. IMHO, that´s lousy advice. cont/-

Upon finding some strategies that give me a consistent profit over time, I decided to simply stop looking ate results continuously.
And I absolutely don´t have trading targets to be reached over time.
Want to try this?
Here are 2 DOs and 2 DON´Ts...


cont/-
I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #56
  • Oct 5, 2022 5:36pm Oct 5, 2022 5:36pm
Quoting Pat Chiko
{quote} Upon finding some strategies that give me a consistent profit over time, I decided to simply stop looking ate results continuously. And I absolutely don´t have trading targets to be reached over time. Want to try this? Here are 2 DOs and 2 DON´Ts... cont/-

DO 1:
Find your edge.
Follow it consistently.
The edge is the set of strategies that are profitable when you run it over and over.
If the edge is well defined, there is no 2nd guessing, FUD/FOMO, or emotional reactions.
Just follow your rules when the conditions are right.


cont/-
I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #57
  • Oct 5, 2022 5:37pm Oct 5, 2022 5:37pm
Quoting Pat Chiko
{quote} DO 1: Find your edge. Follow it consistently. The edge is the set of strategies that are profitable when you run it over and over. If the edge is well defined, there is no 2nd guessing, FUD/FOMO, or emotional reactions. Just follow your rules when the conditions are right. cont/-

DO 2:

Monitor the effectiveness of your edge.
Daily results are not important.
They are only a consequence of a good strategy.
If your winning edge is in place, there´s nothing else to worry about.
If your strategy is a loser, correct it.
This is the key focus you should have

cont/-
I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #58
  • Oct 5, 2022 5:37pm Oct 5, 2022 5:37pm
Quoting Pat Chiko
{quote} DO 2: Monitor the effectiveness of your edge. Daily results are not important. They are only a consequence of a good strategy. If your winning edge is in place, there´s nothing else to worry about. If your strategy is a loser, correct it. This is the key focus you should have cont/-
DON´T 1:

Forget about setting trading targets.
If you have, for example, a target of $200 per day and maximum loss of $100 per day, you mind will play tricks on you based on these artificial parameters.
You may enter bad trades just to try to reach the target.

You should only follow your edge, as often as possible.
If you get 20 trades per day, great! if you get 0, it´s ok.
Trading targets will only make you chase numbers and forget your rules.


cont/-
I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #59
  • Oct 5, 2022 5:40pm Oct 5, 2022 5:40pm
Quoting Pat Chiko
{quote} DON´T 1: Forget about setting trading targets. If you have, for example, a target of $200 per day and maximum loss of $100 per day, you mind will play tricks on you based on these artificial parameters. You may enter bad trades just to try to reach the target. You should only follow your edge, as often as possible. If you get 20 trades per day, great! if you get 0, it´s ok. Trading targets will only make you chase numbers and forget your rules. cont/-

DON´T 2:

Stop looking at your results the whole time.
I only look at results once, at the end of the day, for record keeping purposes.
If you look at how much you´re winning or losing during the day, it will affect your psychology, and mistakes will be made.

You may get scared, greedy, lose confidence, etc... and all of these are your edge´s kryptonite.
(hope none of you are Superman..)
I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #60
  • Oct 17, 2022 11:55pm Oct 17, 2022 11:55pm
Trade Guessing and Proper Analysing

Wanted to post this in a thread. But decided not, as it may bring misunderstanding to the poster.
Instead putting in here ,as my personal reference for others to view.



Missy Dear.,
This is an unsolicited views of what you’ve posted earlier.
Your trade, your money, shouldn’t be my concern.
But, we have social responsibility to post reliable content to all members in this forum & FF.

You’ve made trade call haphazardly without putting any context to the current price movement.
All am I seeing with your post is a random call or “guessing”.
It’s a NO NO for any inspiring forex trader.

Do not consider this a personal attack on you.
By giving my sincere opinion to any traders, meaning that you got my attention for it to protect the majority members to learn the truth of Forex Trading.
No personal agenda, but giving back the communities the best of the best.

Prior to you post, I’ve posted comments with some brief Fundamental description on UK Govt status.
With J.Hunt giving market confidence in the morning, it has set tone and sentiment for the rest of the day on GU direction.

In perspective, asking the question, “why do traders still attempt to guess market behavior given the poor tracking record, without proper Fundamental and TA”?

Fundamental dosn’t have to be deep and understanding of Econs or Stats.
One need to be vigilance with what happen around the world, especially country in relation to your trading pairs …I.e. USA and UK.
Read news flash ( not neccesary the whole Economic journal).
Even Kwasi Kwarteng with PhD in Economics can get it wrong in what do market actually want.

But, this is not what YOU and most people want to hear.
Most people want to hear about the silver bullet theory.

The fact of the matter is this: no human being alive on planet earth can trade the market consistently and accurately without a CLEAR understanding of Timing, Direction, Magnitude and Probability.

Trading without this understanding is nothing more than guessing.
And, you don't want to guess with your hard capital.

People don't do well in this business only because they don't yet understand the baseline principles of what constitutes "price".
When you think about “price” you will have to start thinking about “structures” with multiple dimensions across multiple time-frames moving at different rates of speed simultaneously, yet having a definite “pattern” and “form” or “geometry”.

My suggestion is , keep your trade guess aside.
Post an analysis + chart, regardlesss any indicators used or any strategy you wish for.
These would be a meaningful posting will definetly help a lot of people here…, not for the trade signal , but understanding TA and comparing their set up with yours.

News trading can be powerful.
If one knows how to read it in context to current price structure.
A common mistake which i see is traders taking news out of context, losing sight of the big picture, and not being clear about time frames.

It is also a high level contradiction, to on the one hand actually be a trader, and on the other hand subscribe to the notion that “prediction” is inherently flawed and therefore, not part of actual trading

Urge you, to post proper marked-up chart with brief analysis in future to help your follower and others to learn to trade properly.

All the best & Peace
PAT Chiko
I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
0 traders viewing now