Mysterio's Cable Corner -- Key Levels, Price Action & Order Flow | Page 12 | Forex Factory

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Mysterio's Cable Corner -- Key Levels, Price Action & Order Flow

  • #221
  • Jan 24, 2023 9:35am Jan 24, 2023 9:35am
decided to TP on that last high as i'm not feeling in the mood today

Will attack it again tomorrow

Overall feeling like a bit of a dolt for not holding that short in the morning as it was a perfect 100 pipper down to demand
  • #222
  • Jan 24, 2023 9:36am Jan 24, 2023 9:36am
Quoting mysterio
{quote} you may need to target higher RR's to be successful Helps to have a view on the HTF chart
Actually I was just about to ask this but not sure if you're too busy, you mentioned above the TP will be today's high, any reason for it?

And yes, R:R is also 1 of the things I am still not able to find a way to fine tune, so I just use a fixed one to reduce headache, 1.5x seems to be the sweet spot for me, because I noticed some trades have just enough room for 1.5x, some just shy of it and give it all back to market, personally if trade is 90% into TP, I will set my SL to entry point, so if it doesn't work out, I don't lost anything, but I don't gain anything too.

If set TP at key levels such as S/R, sometimes i get more than 1.5x, sometimes less to the point of not making sense, setting it high make it difficult to reach, so there's pros and cons, I have yet to understand how you can pull off such high RR ratio based on the charts you have been posting.
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  • #223
  • Jan 24, 2023 9:38am Jan 24, 2023 9:38am
Quoting Reverso
{quote} Actually I was just about to ask this but not sure if you're too busy, you mentioned above the TP will be today's high, any reason for it? And yes, R:R is also 1 of the things I am still not able to find a way to fine tune, so I just use a fixed one to reduce headache, 1.5x seems to be the sweet spot for me, because I noticed some trades have just enough room for 1.5x, some just shy of it and give it all back to market, personally if trade is 90% into TP, I will set my SL to entry point, so if it doesn't work out, I don't lost anything,...
only cause it's a bull trend and I think dxy is headed down to the H4 swing low

there's a HnS and those stops will probably be smashed

I still think holding long is the move but I dont want to monitor it more today i want to just switch off
  • #224
  • Jan 24, 2023 9:45am Jan 24, 2023 9:45am
[quote=mysterio;14299373]{quote} only cause it's a bull trend and I think dxy is headed down to the H4 swing low there's a HnS and those stops will probably be smashed I still think holding long is the move but I dont want to monitor it more today i want to just switch off[/quote

EURUSD refused to give in and it has about 61% buyers. That's tells me something is off with the dump on GU. One of them is telling a lie between EU and GU. We will find out.
  • #225
  • Jan 24, 2023 9:53am Jan 24, 2023 9:53am
As you can see the order flow didn't lie and we are shooting up

Today has been a day of closing positions too quickly so my trading psych is a bit off today. This is normal and happens time to time
  • #226
  • Jan 24, 2023 10:00am Jan 24, 2023 10:00am
hope.
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  • #227
  • Jan 24, 2023 10:02am Jan 24, 2023 10:02am
Quoting mysterio
As you can see the order flow didn't lie and we are shooting up Today has been a day of closing positions too quickly so my trading psych is a bit off today. This is normal and happens time to time
Thanks my lord, trade is about 50% into TP now (i'm still using 1.5x R:R).
Since now it is beyond 1.2307, so I put SL at BE (entry point) i guess?
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  • #228
  • Jan 24, 2023 10:09am Jan 24, 2023 10:09am
Quoting Reverso
{quote} Thanks my lord, trade is about 50% into TP now (i'm still using 1.5x R:R). Since now it is beyond 1.2307, so I put SL at BE (entry point) i guess?
Yes

Hold rest til close
  • #229
  • Jan 24, 2023 10:10am Jan 24, 2023 10:10am
Ah 1 more question I forgot to ask, I think I read somewhere that if too many people using the same successful tactic, over time the edge will slowly become no longer effective, aren't you afraid of that? On the other hand there's another saying that if a lot of people is using the same tactic, the tactic will work even better due to people pile into the same direction, I'm not sure which is true, but considering you are sharing your tactic, you must be not worried about it, but I would like to hear your take on it.
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  • #230
  • Jan 24, 2023 10:33am Jan 24, 2023 10:33am
Quoting Reverso
Ah 1 more question I forgot to ask, I think I read somewhere that if too many people using the same successful tactic, over time the edge will slowly become no longer effective, aren't you afraid of that? On the other hand there's another saying that if a lot of people is using the same tactic, the tactic will work even better due to people pile into the same direction, I'm not sure which is true, but considering you are sharing your tactic, you must be not worried about it, but I would like to hear your take on it.
Yea the former is true actually

I might just let this thread fade into posterity come to think of it

Sometimes I do feel it's good to pass it forward because it took me many years of pain to figure out my method. I can lay it out as clear as day and I know it still won't be successful for others because they haven't practiced it endlessly. No edge lasts forever but I believe the fundamentals are sound. I have other setups I deploy too.
  • #231
  • Jan 24, 2023 10:39am Jan 24, 2023 10:39am
Quoting mysterio
{quote} Yea the former is true actually I might just let this thread fade into posterity come to think of it Sometimes I do feel it's good to pass it forward because it took me many years of pain to figure out my method. I can lay it out as clear as day and I know it still won't be successful for others because they haven't practiced it endlessly. No edge lasts forever but I believe the fundamentals are sound. I have other setups I deploy too.
1. Your strategy is not a unitary strategy, it is a multi-faceted approach which reflects what the market presents.
2. The strategy is also dynamic and changes in mid execution

I doubt that it will be 'easy' to have it applied in a uniform manner that would make it easy for AI's to stop.

Just a thought.
  • #232
  • Jan 24, 2023 10:40am Jan 24, 2023 10:40am
Quoting mysterio
{quote} Yea the former is true actually I might just let this thread fade into posterity come to think of it Sometimes I do feel it's good to pass it forward because it took me many years of pain to figure out my method. I can lay it out as clear as day and I know it still won't be successful for others because they haven't practiced it endlessly. No edge lasts forever but I believe the fundamentals are sound. I have other setups I deploy too.
You'd also have to consider how many retail traders are out there. Of those how many are here on FF. Of those how many read your thread. Of those how many have the patience, tenacity and time to read through, digest, and truly understand before trying to apply all this IRL - by making all the necessary tweaks and enhancements to suit their personal trading situation. I'd say discussing a successful method here would not come close to change the character of retail trading, so we're safe here.

Also, if you're worried about algos learning your method, all of this information is already out there. It's just that for a human it's difficult to manually collect and compile into a working methodology. AI can do it more efficiently and extremely fast. And it already has...
  • #233
  • Jan 24, 2023 12:08pm Jan 24, 2023 12:08pm
Quoting noox
{quote} You'd also have to consider how many retail traders are out there. Of those how many are here on FF. Of those how many read your thread. Of those how many have the patience, tenacity and time to read through, digest, and truly understand before trying to apply all this IRL - by making all the necessary tweaks and enhancements to suit their personal trading situation. I'd say discussing a successful method here would not come close to change the character of retail trading, so we're safe here. Also, if you're worried about...
Still reading to get a better understanding of the strategy shared. It sounds a bit complicated for me but interesting.

Looks like nothing is fixed and so it’s subjective and probably entries/exits therefore will vary depending on every new trader. Not sure how some algo would catch that to then destroy. Also I feel hard to believe the big boys will worry about some retail traders having success with trading a few lots in a market with trillions of daily volume? Do people really believe that and then where is the evidence?
  • #234
  • Jan 24, 2023 12:44pm Jan 24, 2023 12:44pm
Quoting mysterio
{quote} Yea the former is true actually I might just let this thread fade into posterity come to think of it Sometimes I do feel it's good to pass it forward because it took me many years of pain to figure out my method. I can lay it out as clear as day and I know it still won't be successful for others because they haven't practiced it endlessly. No edge lasts forever but I believe the fundamentals are sound. I have other setups I deploy too.
Judging that I took the trade idea from someone else (you), and it's 2am+ midnight which is time for me to sleep, also the trade reached about 80%+ or so in profit, I exited with good profit. I take it as I didn't miss my trade this afternoon, which in turn erased my bad feeling towards my own missed opportunity.

A deep gratitude from me, my lord Mysterio. You wouldn't believe how much this means to me. I am racing against time, I have a tight schedule of reaching my financial freedom as fast as I can, every winning trade counts, especially when taking into account the power of compounding. Despite my desperation, during trading I did not let it take over me. I do not revenge trade, nor over-trade, just be a disciplined trader following my own rules, climbing the stairs one step at a time like an honest trader.

Not sure if you know this, when I first saw your name, I thought of this powerful character from the movie, he has the same name as you.
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  • #235
  • Jan 24, 2023 1:00pm Jan 24, 2023 1:00pm
Lol I actually find this name embarrassing, but as a millennial who grew up with the Internet I thought it was a cool name as an 11 year old so I used it as my online handle for Internet forums. I joined FF when I was about 25 and dipping my toes in trading after I graduated. As a crusty old 37 year old I find the name downright cringe now especially as I hate all these new superhero movies...

I ended up working in investment management in various roles (investment consultant then investment manager) with some time off in between doing various things including self employment. When covid hit I got laid off when the markets crashed during lockdowns and had no appetite so like many others I suspect I decided to go full time into trading and haven't looked back.

Like you said Reverso it's all about freedom, that's why we do this sometimes tedious and frustrating job but when it all flows its a nice feeling
  • #236
  • Jan 24, 2023 1:10pm Jan 24, 2023 1:10pm
If anyone wants to join in the thread you can mark out the key levels and trading levels mentioned on the first page and suggest potential projected paths for price

Do the same for Dxy and you should have some idea of a projected path for price

Dxy gives you corroboration if it's not immediately clear on GU
  • #237
  • Jan 24, 2023 10:43pm Jan 24, 2023 10:43pm
Took a survey on what transpired yesterday, IT took a dive into 4H demand zone and closed above the Daily FVG. It brings me to a thought that we could revisit the highs before the week ends.

On the 1H chart lies a gap of interest just below the Asian lows, I will watch that as my key level today!
Note that the gap(grey) is in confluence with the daily FVG.

Regards,
+256
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  • #238
  • Edited Jan 25, 2023 12:16am Jan 24, 2023 11:55pm | Edited Jan 25, 2023 12:16am
Quoting JereMi256
Took a survey on what transpired yesterday, IT took a dive into 4H demand zone and closed above the Daily FVG. It brings me to a thought that we could revisit the highs before the week ends. On the 1H chart lies a gap of interest just below the Asian lows, I will watch that as my key level today! Note that the gap(grey) is in confluence with the daily FVG. Regards, +256 {image} {image}
Same view here. Let's see if we get a dip below the Asia low in the euro session (seems inevitable) then some confirmation on footprint for buys.

I just have my alert set and back to bed
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  • #239
  • Jan 25, 2023 12:21am Jan 25, 2023 12:21am
I'm also looking to short from WPOC
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  • #240
  • Jan 25, 2023 12:29am Jan 25, 2023 12:29am
When the 4 hr chart is up in the Asia session, the Frankfurt/London session tends to rise.
1 hr chart isn't as consistent.
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