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Flying Dutchman

  • #3,801
  • Oct 10, 2022 7:53pm Oct 10, 2022 7:53pm
Quoting bluesteele
{quote}
Two trades this morning giving #1 ANTICIPATED REVERSAL SWING TRADE (OPEN) #2 MOMENTUM/CONTINUATION DAY TRADE (CLOSED)

Love your work here Kev,


Also
Market mechanics, incorporating both Quantatative AND Qualatative Data
Maybe can be the real key to success, over just a single formula style data trader, by combining the two Q's

https://www.forexfactory.com/thread/...6#post14171246



In GBPJPY this morning textbook mechanics with all quantatative (numerical) data known in advance via the Price/Lines
Combined with qualatative (observational) (inflection) data building up on the charts during the price process

Morning is over, back for Franky/London now

same mechanics today as yesterday
https://www.forexfactory.com/thread/...8#post14172648


A tight chart you might have to click on it to see it clearer I think

.
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  • #3,802
  • Oct 10, 2022 8:23pm Oct 10, 2022 8:23pm
Quoting TimeTells
Great charts above Kev Just keeping ryu and his 4th amigo in the loop as I know you would wish to help others having issues with Price/Lines also {quote} Ryu is not really a hypocrite, maybe just still learning his own reality Is ryu a closet horizontal line trader as well, by his own admission https://www.forexfactory.com/thread/...7#post14170537
Cheers Pete !

Well I guess some are still in or stuck in the "indicator" mode.. they think that trading is nothing more than a mathematical equation.... They think with their
rudimentary crypto bots they are trading like the Quant firms and algos lol....Dreamers nothing more....if some think they can even begin to match what the
ultra funded quants do.....

There trading lacks one big thing and that is Robustness and Scalability...
Does it work in all markets ? mmm Nope...is it scalable ? mmmm nope... Work it while you can boys,,,and when you have to keep switching platforms and brokers
perhaps you might step back and open your eyes to the reality of the markets and Yourself !

We all know rooo is nothing but a gambler..look at his thread and the daily returns...back and forth forex crypto....20 -30 40 % days even seen some 100-400% days.... Try that risk mgmt protocol on large funds...it doesnt work... So like I said they average down martingale like no tomorrow... amateurs at best Pete.

And yes Ryuryu does use lines between certain areas..But of course hes correct and the whole world is wrong.... I only say all this not to berate the likes
of those 4 amigos... They just are not as far down the path as others...I only point it out to open up the eyes of the new traders to not fall for their complete and
utter bullshit. Talking of people stealing there ideas and cant discuss the inner workings of their strategy.... HUGE RED FLAG FRAUD FAKE BULLSHIT...

So I will continue to trade the basics of the market...its mechanics its age old patterns even some rounded bottoms and tops on the 1minute and h's and inverted h's shhhh they work too lol.......highs lows BRNS you know the drill... Cut your losses and grow your winners..But no one wants to hear that///they want the MAGIC volume bullshit and indicators that will forever give them correct buy sell signals.... It doesnt exist its a dream for the magical snake oil charlatans.... You know the ones....

The 2 Qs yep and more so on the Qualitative side with the emphasis on YOU.... THe harsh truth...

Great Charts Pete !!!!

Blue
Master your Mind,,,Master the Market
  • #3,803
  • Oct 10, 2022 10:46pm Oct 10, 2022 10:46pm
Good morning pete, bluesteele , moodybot, dean
can u please suggest where i am doing mistake
always my position hit my stoploss
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  • #3,804
  • Oct 11, 2022 12:12am Oct 11, 2022 12:12am
Quoting bluesteele
{quote} Cheers Pete ! Well I guess some are still in or stuck in the "indicator" mode.. they think that trading is nothing more than a mathematical equation.... They think with their rudimentary crypto bots they are trading like the Quant firms and algos lol....Dreamers nothing more....if some think they can even begin to match what the ultra funded quants do..... There trading lacks one big thing and that is Robustness and Scalability... Does it work in all markets ? mmm Nope...is it scalable ? mmmm nope... Work it while you can boys,,,and when...
Cracking post, just about sums them up.
  • #3,805
  • Oct 11, 2022 12:12am Oct 11, 2022 12:12am
Quoting venkatredy
Good morning pete, bluesteele , moodybot, dean can u please suggest where i am doing mistake always my position hit my stoploss {image}

Hi V,

Firstly, I do not know that instrument you are trading, sorry.


But My Question to you must be, and this is a rhetorical question to you V meaning you do not have to provide your answer to the Forum in writing.

You might just consider the "question", as asked below, inside your mind, by looking back at your own reasoning for "choosing" to enter your Buy at that Price Level.


""""What was your own Reasoning At The Time for Buying at the point on the chart where you entered"""


The S/L we can address later, as you will see that after taking out your S/L, and then price dropping further, eventually your Trade would have gone into Profit.

If your reason for buying is that you assumed price might reverse at what looks to me a Swing Point to the left of the chart green line, then you are using Swing Points back-to-front in my mind (only) from how I use them, as i would see that Swing Point (Green Line left where you bought) the actual first target for a Take Profit from a sell entry above at around 39060.

I hope you can find why your actual buy entry may not have been an optimal entry, in hindsight of course, as your buy was well before any inflection/price stalling,
well before any indication that the selloff that you bought into, had completed its full selling stage.

Hope this helps, V
all the best
Pete
  • #3,806
  • Oct 11, 2022 12:26am Oct 11, 2022 12:26am
Hi pete

Firstly, I do not know that instrument you are trading, sorry. INDIAN BANK NIFTY CHART

i am taking trades when price reaches target or taken out target, its was my buy entry
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  • #3,807
  • Edited 12:41am Oct 11, 2022 12:27am | Edited 12:41am
Quoting venkatredy
Good morning pete, bluesteele , moodybot, dean can u please suggest where i am doing mistake always my position hit my stoploss {image}

Hi again V,

To explain visually might help you.

See the chart on post above

https://www.forexfactory.com/thread/...4#post14173474

I entered a BUY from the Inflection after price went above the .250 and bought TOWARDS the george target at .409

---I did not SELL at the target, I buy towards them (mostly, but that's another story for another day)

---I predomiantly BUY towards targets, I do NOT reverse off them (well without a good reason & multiple confluence)



For reversal trades see the chart on this post, this was a classic confluence reversal trade, about 25pips

https://www.forexfactory.com/thread/...6#post14171956
  • #3,808
  • Oct 11, 2022 12:33am Oct 11, 2022 12:33am
Quoting venkatredy
Hi pete Firstly, I do not know that instrument you are trading, sorry. INDIAN BANK NIFTY CHART i am taking trades when price reaches target or taken out target, its was my buy entry {image}

I can see NO reason in my mind, but I do not know the instrument, .... but I see NO reason for a BUY trade at your orange line, sorry.

In fact I would most likely have sold towards it and taken profit TP at the orange line from a possible sell (who knows I wasn't there at the time lol) up above around 39060, hope that helps.

I think the buy did not have any PA reason at the point you bought, and in fact, I was suggest you NEVER try that particular type of trade again until you understand you are not trading from what is actually happening on the charts but from something you are assuming in your mind, sorry
  • #3,809
  • Oct 11, 2022 1:00am Oct 11, 2022 1:00am
not seeing a lot today either....

trying to remain disciplined...which has to be the eliminate battle, not only in trading...but in life...
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Get the Lag out
  • #3,810
  • Oct 11, 2022 1:19am Oct 11, 2022 1:19am
Quoting venkatredy
Hi pete Firstly, I do not know that instrument you are trading, sorry. INDIAN BANK NIFTY CHART i am taking trades when price reaches target or taken out target, its was my buy entry {image}

Cheers V,

Wishing you the best as always.
There are some very good (sprecialist) reversal traders out there.
I am not one of them (specialist that is).

I prefer to trade WITH the market direction as it is flowing.
But if we assume though that a Target IS a Point Of Interest for someone, then why not trade TO it I say.
NO guarantees there either, the market wants your money.
But I DO my reversal trades of course, while there needs to be maybe 3 x good confluence reasons for me to do so. Never, just because price reached one target.

Keep reviewing the charts & your trades, and wishing you very well.
  • #3,811
  • Oct 11, 2022 1:32am Oct 11, 2022 1:32am
Quoting TimeTells
{quote} Cheers V, Wishing you the best as always. There are some very good (sprecialist) reversal traders out there. I am not one of them (specialist that is). I prefer to trade WITH the market direction as it is flowing. But if we assume though that a Target IS a Point Of Interest for someone, then why not trade TO it I say. NO guarantees there either, the market wants your money. But I DO my reversal trades of course, while there needs to be maybe 3 x good confluence reasons for me to do so. Never, just because price reached one target. Keep reviewing...
hello pete
till now i am only looking for reversal trade when price reaches/ taken out target(HL/LH) .
then where would be trade entry as per you. as u said exit/Tp are George Target.
  • #3,812
  • Oct 11, 2022 1:55am Oct 11, 2022 1:55am
Quoting venkatredy
{quote}
hello pete till now i am only looking for reversal trade when price reaches/ taken out target(HL/LH) . then where would be trade entry as per you. as u said exit/Tp are George Target.

Okay V,

Well you are determined so I congratualte you on that. Maybe wait till an extreme price move before considering a reversal trade,
and THEN only if some extra confluences make sense to you on the current chart.

Please dont trade a reversal JUST because of a target, one BURN/GRIND wipes out many wins.

Find your spot. And have a reason. All the best.
  • #3,813
  • Oct 11, 2022 2:21am Oct 11, 2022 2:21am
Quoting TimeTells
{quote} Okay V, Well you are determined so I congratualte you on that. Maybe wait till an extreme price move before considering a reversal trade, and THEN only if some extra confluences make sense to you on the current chart. Please dont trade a reversal JUST because of a target, one BURN/GRIND wipes out many wins. Find your spot. And have a reason. All the best.
Understood pete
can u please provide some example with charts pic
As i and some other new traders will get know.
  • #3,814
  • Oct 11, 2022 2:26am Oct 11, 2022 2:26am
Quoting venkatredy
{quote}
Understood pete can u please provide some example with charts pic As i and some other new traders will get know.

Hi V,

I reckon every chart I have posted in the past 4 weeks are examples of confluences (ie prev Moth Hi-Lo, Pivs, Round Numbers, Day Opens etc etc)

Another chart will just be as people tell me ... "All your charts look the same" ... lol (and that's what I trade daily)
  • #3,815
  • Oct 11, 2022 2:34am Oct 11, 2022 2:34am
Quoting TimeTells
{quote} Hi V, I reckon every chart I have posted in the past 4 weeks are examples of confluences (ie prev Moth Hi-Lo, Pivs, Round Numbers, Day Opens etc etc) Another chart will just be as people tell me ... "All your charts look the same" ... lol (and that's what I trade daily)
please just one chart for me pete
chart should clear all my confusion
  • #3,816
  • Edited 3:41am Oct 11, 2022 2:38am | Edited 3:41am
don't be lazy V, please
you can track down those charts easily
  • #3,817
  • Edited 4:58am Oct 11, 2022 4:02am | Edited 4:58am
Hi All,

Second trade for the week. GBP/USD. My entry was quite late. Still not that good in identifying highs and lows perfectly. Was a 20 odd pips trade. I mostly trade reversals at specific time and at RNs with other confluences. Most important are RNs and Time. These 2 never change and are concrete. I was waiting for the price to go deeper and break the RN after London Open. The PFL had formed after Frankfurt open. I felt that at London open price will go deeper to drag traders to sell but it turned. At times it does but not today. Got in late and got out early. Some here are masters at picking Hs and Ls.

Trade Well All.
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  • #3,818
  • Oct 11, 2022 8:12am Oct 11, 2022 8:12am
Quoting bluesteele
{quote} Cheers Pete ! Well I guess some are still in or stuck in the "indicator" mode.. they think that trading is nothing more than a mathematical equation.... They think with their rudimentary crypto bots they are trading like the Quant firms and algos lol....Dreamers nothing more....if some think they can even begin to match what the ultra funded quants do..... There trading lacks one big thing and that is Robustness and Scalability... Does it work in all markets ? mmm Nope...is it scalable ? mmmm nope... Work it while you can boys,,,and when...
I love a rounded bottom
every Saint has a past. Every Sinner has a Future
  • #3,819
  • Oct 11, 2022 8:21am Oct 11, 2022 8:21am
got a pullback here, so I tried it off the 15min where I saw a decent entry....
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Get the Lag out
  • #3,820
  • Oct 11, 2022 9:04am Oct 11, 2022 9:04am
Off with the sp500 for a few pennies
Thanks Bluesteele and SB and others
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every Saint has a past. Every Sinner has a Future
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