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Volman meets Burke or My journey with PA

  • #581
  • Oct 19, 2022 4:56pm Oct 19, 2022 4:56pm
Quoting spzd
{quote} A few trades a day at an amount that makes it worth it. Only have an account big enough to cover your style. No worries of being screwed while you sleep.
at least you have your money in the bank trading , greed is one of those why a lot of traders fail
people leave, but this thread will go on for ever
  • #582
  • Oct 19, 2022 5:11pm Oct 19, 2022 5:11pm
Quoting Aussi
{quote} at least you have your money in the bank trading , greed is one of those why a lot of traders fail
Very true
every Saint has a past. Every Sinner has a Future
  • #583
  • Oct 19, 2022 6:55pm Oct 19, 2022 6:55pm
Quoting spzd
{quote}
I use the term jokingly. But I am doing a deeper dive into these "Inflection" points (which is my preferred term). Shortening it to "zepps" works. I, like you, prefer the short term. I don't really "scalp", but I am in and out of the market fairly fast. I find it interesting how the inflection points on the hourly you posted work very similar to the ones on the 5-minute. Fractal. You have to love it. I have gone from Stacey Burke, sprinkled in a bit of Volman, and I am now starting my...

Hahaa, I know mate, you guys keep me sane love the thread & well done
  • #584
  • Oct 20, 2022 12:33am Oct 20, 2022 12:33am
Quoting spzd
I have two basic candle patterns I look for at swings of the US session. {image} https://www.youtube.com/watch?v=wZ4jpF_bNiI
Late night musings after reading the last thread pages.. thanks for the information.
Basic candle patterns is what I look for as well. Like the circled patterns on your chart example. Also like Double High Lower Close... the reverse of that. Engulfing. Pin bar . Three Black Crows or Three White Soldiers take up too many pips.
Thanks for the Zepp explanation and The Road Map. Re Road Map... I feel I have trained my eyes to see long term P action from candles using the - feature . Or use the line chart feature on MT4.

Still searching for my main FX pair leaning toward Usd/Cad So I can focus and let it play out rather than jumping around from one pair to the next which then amounts to trading moves rather than set ups or patterns.
In the last few posts there was mention of a session being 'Highly Organized' and ' the NY Crew running the show ' . I have come to the realization, confirmed a lt by SB that manipulation is what moves the market. So I wonder , is it possible to think like a manipulator ? Looking for SB's Trapped Volume and making that work in my favor . (rather than trying to find the right ema or indicator)
Interesting to see the pattern drawn in these past few pages similar to that which I saved maybe a year ago when I started considering market manipulation .
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  • #585
  • Oct 20, 2022 8:31am Oct 20, 2022 8:31am
Just waiting now -do most of you trade the one minute or 5 minute on SP500 ?
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every Saint has a past. Every Sinner has a Future
  • #586
  • Oct 20, 2022 8:36am Oct 20, 2022 8:36am
Quoting turnip15
Just waiting now -do most of you trade the one minute or 5 minute on SP500 ? {image}
I have found the 5-minute works best for me.
Mark ... Everything you have been told is a LIE
  • #587
  • Oct 20, 2022 8:37am Oct 20, 2022 8:37am
Quoting turnip15
Just waiting now -do most of you trade the one minute or 5 minute on SP500 ? {image}
Taking 6 points until things calm down.
Looking at 5 minute now - calmer
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every Saint has a past. Every Sinner has a Future
  • #588
  • Oct 20, 2022 8:38am Oct 20, 2022 8:38am
And I do not trade the first 15 minutes or so.
Mark ... Everything you have been told is a LIE
  • #589
  • Oct 20, 2022 8:42am Oct 20, 2022 8:42am
Quoting turnip15
{quote} Taking 6 points until things calm down. Looking at 5 minute now - calmer {image}
It's easier to follow and you can see previous PA better (guide for local H/L).
Mark ... Everything you have been told is a LIE
  • #590
  • Oct 20, 2022 8:43am Oct 20, 2022 8:43am
6 points is $30 for the MES, $5 a point. What is it per point for CFDs?
Mark ... Everything you have been told is a LIE
  • #591
  • Oct 20, 2022 8:44am Oct 20, 2022 8:44am
What I see on the 5 minute ( excluding "Roadmap")
Double bottom ? Some say wait for 30 minutes then consider trade. I wait now.
To avoid confusion I will trade via "Roadmap" but still mention SB etc for any discussion unless everyone is now bored silly with my scribbling
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every Saint has a past. Every Sinner has a Future
  • #592
  • Oct 20, 2022 8:50am Oct 20, 2022 8:50am
Changed my platform to MT5 as I have it all set for me. Was not pleased with TradingView once I went PA.

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This uses GMT so the close is off. When trading at the level I am it is not that big a deal.
Mark ... Everything you have been told is a LIE
  • #593
  • Oct 20, 2022 8:53am Oct 20, 2022 8:53am
Quoting spzd
6 points is $30 for the MES, $5 a point. What is it per point for CFDs?
CFD's -banned in USA -can be at whatever the broker sets the intervals. Can be 10pence, 20pence, one pound and up. Not fixed like Future Contracts

https://www.ig.com/uk/trading-strate...erences-201111
every Saint has a past. Every Sinner has a Future
  • #594
  • Oct 20, 2022 8:55am Oct 20, 2022 8:55am
Quoting turnip15
What I see on the 5 minute ( excluding "Roadmap") Double bottom ? Some say wait for 30 minutes then consider trade. I wait now. To avoid confusion I will trade via "Roadmap" but still mention SB etc for any discussion unless everyone is now bored silly with my scribbling {image}
Good call.

DB, works same for DT, I usually enter on close/open. of bar creating the DB/DT. Here was a double DB (is this a phat bottom girl ).

Once I get more consistent with what I am doing this SP500 will be a cash cow.
Mark ... Everything you have been told is a LIE
  • #595
  • Oct 20, 2022 8:55am Oct 20, 2022 8:55am
Quoting spzd
{quote} It's easier to follow and you can see previous PA better (guide for local H/L).
Totally agree - I also chew less biscuits using the 5 minute.
every Saint has a past. Every Sinner has a Future
  • #596
  • Oct 20, 2022 8:58am Oct 20, 2022 8:58am
Quoting turnip15
{quote} CFD's -banned in USA -can be at whatever the broker sets the intervals. Can be 10pence, 20pence, one pound and up. Not fixed like Future Contracts https://www.ig.com/uk/trading-strate...erences-201111
Thanks for the reminder of my nanny state.

I have a prop account that has CFDs. I will have to just trade one unit and see what they pay. Thanks.
Mark ... Everything you have been told is a LIE
  • #597
  • Oct 20, 2022 9:04am Oct 20, 2022 9:04am
Quoting Lou
{quote} Late night musings after reading the last thread pages.. thanks for the information. Basic candle patterns is what I look for as well. Like the circled patterns on your chart example. Also like Double High Lower Close... the reverse of that. Engulfing. Pin bar . Three Black Crows or Three White Soldiers take up too many pips. Thanks for the Zepp explanation and The Road Map. Re Road Map... I feel I have trained my eyes to see long term P action from candles using the - feature . Or use the line chart feature on MT4. Still searching for my...
Nothing I have posted is new nor exclusive to the people I got the information from. It is also basic. Even so, these basic, long used methods are still valid.

The candle patterns are not taken blindly when they occur. They need to occur at certain specific times, preferably highs and lows along with other areas of interest. When taken at these points the patterns more often than not give positive results.

The hardest part is to recognize them live. But that was not even that hard. The lowest time frame I use is the 5-minute and in normal conditions price moves at a pace that makes it easy to identify. Larger chart patterns can be more problematic.

I have also settled on just one pair, GBP_USD. It moves fairly well most days in my trading window. It also has a good per pip payout (and it is static). This pair for currencies and the MES are the only two instruments I trade now. Two laptops, one on each. I trade both the same way.

My method is basically taking swings from highs and lows.

Trapped volume would be those areas where price is moved up or down then quickly (relative) moves away leaving those traders trapped in losing positions. Love the way they move the market to catch people.
Mark ... Everything you have been told is a LIE
  • #598
  • Oct 20, 2022 9:04am Oct 20, 2022 9:04am
Quoting spzd
{quote} Good call. DB, works same for DT, I usually enter on close/open. of bar creating the DB/DT. Here was a double DB (is this a phat bottom girl ). Once I get more consistent with what I am doing this SP500 will be a cash cow.
Gotta keep am eye on it now and lock some in. Too much time typing slowly

EDIT: moved stop to 3717:50
every Saint has a past. Every Sinner has a Future
  • #599
  • Oct 20, 2022 9:10am Oct 20, 2022 9:10am
Quoting turnip15
{quote} Gotta keep am eye on it now and lock some in. Too much time typing slowly EDIT: moved stop to 3717:50
Ride that beast for what it's worth.
Mark ... Everything you have been told is a LIE
  • #600
  • Oct 20, 2022 10:17am Oct 20, 2022 10:17am
Using SBs FrontSide/BackSide today. This led to one trade today at the DL of the session. I was looking for a long and it was handed to me. Not sure how the week will finish with no major data releases. This could lead to a Freaky Friday scenario.

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Mark ... Everything you have been told is a LIE
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