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Flying Dutchman

  • #4,481
  • Dec 18, 2022 4:49am Dec 18, 2022 4:49am
Quoting fxpider
{quote} Mate, Just a thought on FVG of HTF. According to ICT, FVG shows an imbalance/inefficiency in the price due to the rapid rise or fall, and the price tends to revisit the area as the price was not offered in that area. Now, if you zoom in to LTF, we can see that prices have been already visited/offered in the FVG area, within that rapid rise or fall that was visible in one candle move (HTF). Considering that, to me, the FVG in 1M ( the lowest TF possible, well.... in MT4) would be more accurate. I will appreciate your input on this. ...
In the absence of a footprint chart that is one of the filters I use. When I go down to the 1M chart it doesn't have to be one large candle/bar - it can be a series of one direction bars/candles. To understand the concept of Fair Value Gap, Liquidity Gap, or whatever term I find the footprint charts to be useful.
  • #4,482
  • Edited 9:36am Dec 18, 2022 5:52am | Edited 9:36am
Quoting fxpider
{quote} Mate, Just a thought on FVG of HTF. According to ICT, FVG shows an imbalance/inefficiency in the price due to the rapid rise or fall, and the price tends to revisit the area as the price was not offered in that area. Now, if you zoom in to LTF, we can see that prices have been already visited/offered in the FVG area, within that rapid rise or fall that was visible in one candle move (HTF). Considering that, to me, the FVG in 1M ( the lowest TF possible, well.... in MT4) would be more accurate. I will appreciate your input on this. ...
I appreciate you asking my opinion but, like many, I am in the dark and groping around for a light switch
I look for examples of break of market structure, then a gap due to the rapid fall you mention, then price is supposed to return and trigger a trade before continuing onwards. He has too many vids and talks an awful lot but I find this site helpful with summaries and examples (ICT approves her channel in the Comments section of his site. But she is only up to video 11 of the 2022 mentorship series I think)
I am still reading but not ready to give more weight to his method in my pre market analysis yet.
Thats why I post the odd FVGap chart asking for comment -but often get overlooked, probably because no one uses it exclusively?
Inserted Video
every Saint has a past. Every Sinner has a Future
  • #4,483
  • Dec 18, 2022 6:06am Dec 18, 2022 6:06am
Quoting Shabs19
{quote} Lines mark Boundaries, Ranges. Lines mark Market Structure Lines mark Market Opens, Day, Week & Month Lines mark Major MA's levels \ Fibs \ Pivots (Optional). Lines mark plan of Entry, Stoploss, & Take Profit(s).
Lines are not a problem for me. Just FVGaps - now that I have read a little about them I am afraid I am like a dig with a bone, I wont let go until I grasp and, more importantly, apply the concept. More sensible people would leave it alone. Oh well
every Saint has a past. Every Sinner has a Future
  • #4,484
  • Edited 7:25am Dec 18, 2022 6:37am | Edited 7:25am
Quoting turnip15
{quote} Lines are not a problem for me. Just FVGaps - now that I have read a little about them I am afraid I am like a dig with a bone, I wont let go until I grasp and, more importantly, apply the concept. More sensible people would leave it alone. Oh well
I wouldn't dwell too much on FVG. They happen now & again during High Impact News Events. They get filled sometimes in the same session or more often days or weeks later.

It is only a part of Market Structure, the fractal nature of the market that can be observed on all TF's.

Always observe from the HTF down.
It never gets easier, you just get better
  • #4,485
  • Dec 18, 2022 6:41am Dec 18, 2022 6:41am
Quoting turnip15
{quote} He has too many vids and talks an awful lot but I find this site helpful with summaries and examples (ICT approves her channel in the Comments section of his site. But she is only up to video 11 of the 2022 mentorship series I think) https://www.youtube.com/watch?v=uVWu3RKli7s
WoW, nice presentation. But I need to listen to her with closed eyes..... otherwise keeps on getting distracted.
Success = Practice + Patience + Persistence
  • #4,486
  • Dec 18, 2022 9:12am Dec 18, 2022 9:12am
Quoting turnip15
{quote} Lines in the rightplaces ? Meanwhile - I am trying to glean more about FVGaps. One day the penny will drop or I will move on
Good luck with it. Persistence is key.
  • #4,487
  • Dec 18, 2022 9:32am Dec 18, 2022 9:32am
Tom Hougaard? As per one or two here I joined the telegram group to follow his trades to see what he is like compared to what he posts. Seems a genuine sort.
Which brings me to my main point: I see a whole industry around Al Brookes, but does he actually trade and are such trades verified?
Neither affect my style but interested as a Sunday chat topic.

Another topic: If two consecutive bars are green, what are the chances ( better than 50%) that the third bar will be green ?

Yes, you are correct: it is raining here and there is nowt on television
every Saint has a past. Every Sinner has a Future
  • #4,488
  • Edited 2:01pm Dec 18, 2022 1:50pm | Edited 2:01pm
Quoting turnip15
Another topic: If two consecutive bars are green, what are the chances ( better than 50%) that the third bar will be green ? Yes, you are correct: it is raining here and there...
Still 50:50

Context is more important than sequence of bars.
It never gets easier, you just get better
  • #4,489
  • Dec 18, 2022 3:34pm Dec 18, 2022 3:34pm
Quoting Shabs19
{quote} Still 50:50 Context is more important than sequence of bars.
Agreed on that
every Saint has a past. Every Sinner has a Future
  • #4,490
  • Dec 18, 2022 4:43pm Dec 18, 2022 4:43pm
Quoting turnip15
{quote} Agreed on that
Same with the weather, if it is raining 2 days consecutively, what are the chances it will rain on the 3rd day ?

Context : Winter, Spring, Summer or Fall ?
It never gets easier, you just get better
  • #4,491
  • Dec 18, 2022 5:13pm Dec 18, 2022 5:13pm
Quoting Shabs19
{quote} Same with the weather, if it is raining 2 days consecutively, what are the chances it will rain on the 3rd day ? Context : Winter, Spring, Summer or Fall ?
Hahaha...Well I can unequivocally say with a very high degree of probability that....

What follows 2 days of rain in Vancouver Canada....???

Monday !!!

Master your Mind,,,Master the Market
  • #4,492
  • Dec 18, 2022 5:21pm Dec 18, 2022 5:21pm
Quoting bluesteele
{quote} Hahaha...Well I can unequivocally say with a very high degree of probability that.... What follows 2 days of rain in Vancouver Canada....??? Monday !!!
Another level of context, you ask the right questions.........................

It never gets easier, you just get better
  • #4,493
  • Dec 18, 2022 5:39pm Dec 18, 2022 5:39pm
Quoting Shabs19
{quote} Still 50:50 Context is more important than sequence of bars.
Ahh yes Context is everything !

Take for ex...this simple effective strategy... I wont mention the name of it..
But it uses 2 candles...specific for the DAX at this moment
first 2-15m candles from the open....

There is more to it but the charts give away most

This is just the last 3 days...It is by far not always clean like this...
Alot has to do with trade mgmt,,,,,,

ANyhoo Context of 2 candles at specific timing now we are getting somewhere

Cheers
Blue
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Master your Mind,,,Master the Market
  • #4,494
  • Edited Dec 19, 2022 12:18am Dec 18, 2022 6:04pm | Edited Dec 19, 2022 12:18am
Quoting venkatredy
Dear Flying Dutchman Members Due to forex trading prohibited from our country(India) i should trade only our exchange indies and stock I would like to know do George stop-loss hunting work on indies?
If you demo trade Indian indices on Interactive Brokers, India, I can show you stop-loss hunting and how IB provided Algo can be used in that situation . I am familiar with IB platform only for trading on Indian indices.
Practice makes a person perfect
  • #4,495
  • Dec 18, 2022 7:22pm Dec 18, 2022 7:22pm
While I haven’t read this book (see Post Link Below), Clemmo did a terrific job imho to bring to life the important detail of content that was expressed in the book.


The Subject Matter of the book is, again just imo, the very thing that breaks traders & has traders frustrated at their own ability to just trade the markets successfully, each day, JUST FROM CHARTS & CANDLES (and a little maths thrown in of course).

I have read folks say that chart reading is akin to magic etc and when I try to analyse & understand their strange statements I can only come back to the content of clemmo’s post (below).

For myself, I have ZERO doubts, that there will be times “in the market” when the market ‘by design’ or just by ‘repetitive coincidence’ will have the trader deceived.

Again. By design OR coincidence DOES NOT MATTER in the long run (to me, well anymore).

But the (supposed) deception is what I believe is the ONLY thing that would stop a trader from chart trading successfully EACH day. Else where or what else would induce a trader make a poor trade (and worse, to HANG ON to it).

So how much in total is this apparent market deception. Who knows. I’m going with only about 10%.
If this figure, that I assumed, is accurate then 90% of the time the market WILL play out to your view of the market.

It’s the end of the Year.
Go back through your losses later (forget the winners) and look deep into how they happened. If you find the market deceived you AT THAT ENTRY then takes steps NOW to isolate such deception (in your mind) to AVOID it as best you can NEXT trade.

If you can halve the time that the market (or yourself lol) tricks you down from 10% to 5% then no doubt you’re a/c bottom line will show a marked improvement next year. Think about this.

And please, do NOT listen to negative posters who are saying such trading (only charts & candles - ok, also with your special indis should you wish) is MAGIC.

It is just that they themselves were fooled (maybe continually) by the market, yes they were deceived, they were tricked at their own point of trade entry.
So they will then assume that it cannot be done, by anybody.

Chart & candle reading is nothing more than Tape Reading ie PRICE reading.

Just that the advantage we NOW have with charts and all the info seen to the left of price is all VISUAL and not just a number on a piece of paper. By that I mean current price.

And did tape readers in the pits in the past have to write down the price at 10pm for example to look back later and see whether price is now rising or falling, who knows. What an advantage a chart reader has now.

So it is not Magic in my eyes, and it is very sad to read some traders still think so in this day & age.

But
The market with all its participants (all of them) wanting & doing different things at different times WILL HAVE TO appear as either random or deceptive imo

- ie fake’n’flip, show disruptive behaviour, hold up price, employ apparent decoy moves, use principles of deception etc etc as it is a global financial market lol.

By acknowledging your own part in this being deceived (self deception as well as market deception) you can get down to UNDERSTANDING the market you trade in.

Get the 10% (maybe) of being ‘tricked’ down to 5%, which is achievable imho. Study the past, test your templates etc.


And have a read of clemmo’s excellent imo condensed book post here

https://www.forexfactory.com/thread/...5#post14259585


This deception part is NOT the TOTAL market as I see it, at all, just a small PART of the market behaviour.

BUT it is the PART imo where traders get fk’d over or fk themselves over as they cannot see the wood for the trees.

Have a great festive season & New Years break soon now lol and come back fresh for 2023 and what it might bring.
  • #4,496
  • Dec 18, 2022 7:47pm Dec 18, 2022 7:47pm
Quoting TimeTells
While I haven’t read this book (see Post Link Below), Clemmo did a terrific job imho to bring to life the important detail of content that was expressed in the book. The Subject Matter of the book is, again just imo, the very thing that breaks traders & has traders frustrated at their own ability to just trade the markets successfully, each day, JUST FROM CHARTS & CANDLES (and a little maths thrown in of course). I have read folks say that chart reading is akin to magic etc and when I try to analyse & understand their strange statements I can only...

Master your Mind,,,Master the Market
  • #4,497
  • Dec 18, 2022 10:46pm Dec 18, 2022 10:46pm
Quoting TimeTells
While I haven’t read this book (see Post Link Below), Clemmo did a terrific job imho to bring to life the important detail of content that was expressed in the book. The Subject Matter of the book is, again just imo, the very thing that breaks traders & has traders frustrated at their own ability to just trade the markets successfully, each day, JUST FROM CHARTS & CANDLES (and a little maths thrown in of course). I have read folks say that chart reading is akin to magic etc and when I try to analyse & understand their strange statements I can only...
Yes he's done a good job to write up those books. Impressive effort.
  • #4,498
  • Dec 18, 2022 11:02pm Dec 18, 2022 11:02pm
Quoting turnip15
Tom Hougaard? As per one or two here I joined the telegram group to follow his trades to see what he is like compared to what he posts. Seems a genuine sort. Which brings me to my main point: I see a whole industry around Al Brookes, but does he actually trade and are such trades verified? Neither affect my style but interested as a Sunday chat topic.
One was an eye surgeon with a desire to be a trader and the other worked in a brokerage with the same desire. They achieved what they set out to do. Pretty powerful combo perhaps.
  • #4,499
  • Edited 8:47am Dec 19, 2022 7:09am | Edited 8:47am
Quoting TimeTells
did tape readers in the pits in the past have to write down the price at 10pm for example to look back later and see whether price is now rising or falling, who knows.
They used Pivot Points, wrote down all the numbers from the previous days trading, S3, S2, S1, PP, R1, R2, R3, etc.

They would act on whether price was ripe for a Sell or a Buy based on where price was on their piece of paper.

What happened in the pits, now happens on the charts also. Except of course, now we have so many timeframes & so much history.
It never gets easier, you just get better
  • #4,500
  • Dec 19, 2022 4:21pm Dec 19, 2022 4:21pm
Quoting Shabs19
{quote}
They used Pivot Points, wrote down all the numbers from the previous days trading, S3, S2, S1, PP, R1, R2, R3, etc.
They would act on whether price was ripe for a Sell or a Buy based on where price was on their piece of paper.
What happened in the pits, now happens on the charts also. Except of course, now we have so many timeframes & so much history.

Sort of like a Line Trader would do nowadays with Price on a chart. Interesting, cheers Shabs
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