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  • #61
  • Dec 1, 2022 3:27am Dec 1, 2022 3:27am
BOS OR NOT

You can find loads of perspectives out there about what is BOS, what isn’t.
Neither of them are right or wrong.
YOU make it right or wrong.
If one of the perspective is working for you, since you’ve gathered enough data of it with backtesting, just stick to that one.
In my perspective if a candle can’t body break the last structural highs/lows last point, then the low/high that attempted the break will functionate as LQ for the last recent supply/demand zone.
Attached Image (click to enlarge)
Click to Enlarge Name: bos or not.jpg Size: 30 KB


BOS can be both wick and body closure. Hence there most be a break.
It has an ambiguity problem, since if you see that in a TF it will tell you that it breaks with body, but if you see it in another TF it will say that it breaks with wick.


Question : if HTF leave with wicks and LTF full body close do you still call dat BOS on HTF?
Answer : swing high on each TF required a body break on the same TF
I come from the future.
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  • #62
  • Dec 1, 2022 11:05pm Dec 1, 2022 11:05pm
Dunning Kruger Effect in the Trading Market
The Dunning-Kruger Effect: What Differentiates Novice and Expert Traders?
“…incompetent people do not recognize—scratch that, cannot recognize—just how incompetent they are,”


Attached Image (click to enlarge)
Click to Enlarge Name: Dunning-Kruger-Effect.png Size: 114 KB


Very few get past first stage.
But those who survive – begin to learn that making money in the trading market is not easy.

It requires knowledge.
It requires experience.
It also requires a lot of patience.

The market will eventually end up teaching its new participants some lessons which they will never forget.
They’ll begin to realise that the only way to succeed in the stock market is to survive and be a life-long learner.
I come from the future.
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  • #63
  • Dec 1, 2022 11:11pm Dec 1, 2022 11:11pm
Quoting Pat Chiko
Dunning Kruger Effect in the Trading Market The Dunning-Kruger Effect: What Differentiates Novice and Expert Traders? “…incompetent people do not recognize—scratch that, cannot recognize—just how incompetent they are,” {image} Very few get past first stage. But those who survive – begin to learn that making money in the trading market is not easy. It requires knowledge. It requires experience. It also requires a lot of patience. The market will eventually end up teaching its new participants some lessons which they will never forget. They’ll begin...
If you are a newbie trader make sure you take more knowledge from the market constantly and be a humble student of the market forever and trade with a moderate amount of risk during the initial phases.

Go and figure out how to control your risk rather than how to bring money to your table.
I come from the future.
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  • #64
  • Jan 11, 2023 1:15pm Jan 11, 2023 1:15pm
Hi Pat Chiko,
thank you very much, a very interesting thread
i have compiled the posts (from this thread) in a pdf for personal use,
with your permission i could post them here,
in case someone else finds it useful
don't want to bother

best regards and new thanks
Newbie trader
  • #65
  • Jan 28, 2023 9:44am Jan 28, 2023 9:44am
Independent Thinker

The need as a Trader to be an independent thinker you can't be a blind crowd follower or blind contrarian.
You have to learn to think for yourself and by yourself.

The consensus is nearly always wrong

A good trader should not be a blind contrarian and to think as an independent thinker.
They know to follow the crowd when they feel it's the right step and they bet against the crowd when they feel that's where the odds are.
I come from the future.
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  • #66
  • Jan 28, 2023 9:50am Jan 28, 2023 9:50am
Trading with Composure

Statistical fact that most traders fail at trading and that trading psychology is a very big part of trading successfully.
Why don't pay more attention to this aspect of trading.

But even if we understood why we get in our own way in trading would we even do what it takes to get out of our own way or do we continue to hang on to what doesn't work out of mindlessness, habit, comfort and ignore the need to do the uncomfortable and real work that requires patience and practice

Perhaps we ignore during the deep work because instant results are more appealing or if we do the deep work we would have to face our demons.
We need to understand our own emotional turbulence and instability in the mind through deep inner work.
With a heightened sense of mindfulness we need to embraced uncertainty and became systematic in his trading .
I come from the future.
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  • #67
  • Jan 28, 2023 11:17am Jan 28, 2023 11:17am
Quoting Pat Chiko
Trading with Composure Statistical fact that most traders fail at trading and that trading psychology is a very big part of trading successfully. Why don't pay more attention to this aspect of trading. But even if we understood why we get in our own way in trading would we even do what it takes to get out of our own way or do we continue to hang on to what doesn't work out of mindlessness, habit, comfort and ignore the need to do the uncomfortable and real work that requires patience and practice Perhaps we ignore during the deep work because instant...
Simples ...Folks don't like to be wrong...
  • #68
  • Jan 30, 2023 6:55pm Jan 30, 2023 6:55pm
Quoting fex
Hi Pat Chiko, thank you very much, a very interesting thread i have compiled the posts (from this thread) in a pdf for personal use, with your permission i could post them here, in case someone else finds it useful don't want to bother best regards and new thanks
this is nice can I get it
  • #69
  • Feb 11, 2023 12:49pm Feb 11, 2023 12:49pm
Trading Psychology I

Keep emotions in check when trading in the forex market.

A good trader must emphasize the importance of maintaining a healthy lifestyle and not becoming too consumed by the market.
Always keep a big-picture perspective and not to get too wrapped up in the day-to-day movements of the market.

It is important to recognize that personal issues and environment can impact trading decisions, and to try to separate those from the market.
Therefore it is important not just focus on the money when trading but to enjoy time with friends and family to maintain an even keel.
I come from the future.
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  • #70
  • Feb 11, 2023 12:55pm Feb 11, 2023 12:55pm
Quoting Pat Chiko
Trading Psychology I Keep emotions in check

Trading Psychology II

When we were young and just starting a family, paying rent on time and ensuring basic necessities were taken care of every day was a top priority.
These worries and responsibilities can influence our decisions and emotions when it comes to trading.
It's important to remember to take a step back and look at the bigger picture, instead of getting consumed by the need to make a certain amount of money each month.

The key is to not let our worries and daily struggles affect our trading decisions.
Trading should not become our entire life, as it can lead to seclusion and loneliness.
Instead, maintain a balanced and healthy lifestyle, including time with friends and loved ones.

The market will always be there, and there will always be money to be made. It's crucial to not get too caught up in the day-to-day fluctuations and always keep the big picture in mind.
I come from the future.
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  • #71
  • Feb 11, 2023 1:01pm Feb 11, 2023 1:01pm
Quoting Pat Chiko
{quote} Trading Psychology II . It's important to remember to take a step back and look at the bigger picture, instead of getting consumed by the need to make a certain amount of money each month.
Trading Psychology II

When trading, always keep in mind that it's not a skill you can learn overnight, but having this mindset from the start will keep you focused on the bigger picture.

It took me years to realize this.
Trading can consume people to the point where they become isolated and lonely, solely focused on their profit and loss every day.
It's crucial to maintain a healthy lifestyle and enjoy time with friends, even when experiencing ups and downs in the market.

Emotional and environmental problems can affect trading decisions, leading to bad choices.
The market operates on pure probabilities and doesn't care about your personal issues, so it's important to keep them separate from your trading decisions.
I come from the future.
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  • #72
  • Feb 11, 2023 2:05pm Feb 11, 2023 2:05pm
Hi Pat
Could you give out more examples on supply and demand

Thank you
Lou Vincii Code
  • #73
  • Feb 12, 2023 11:06pm Feb 12, 2023 11:06pm
Quoting Pat Chiko
Trading with Composure Statistical fact that most traders fail at trading and that trading psychology is a very big part of trading successfully. Why don't pay more attention to this aspect of trading.
Most traders fail because they believe that it is possible to outperform knowledge, money and speed using drawing tools and "correct mindset". So may be, just may be, instead of paying attention to non-existent things like "trading psychology" better pay attention to real things like math? If you can't calculate basic things no mindset will help you.

How you think?
Observer effect
  • #74
  • Feb 13, 2023 7:15am Feb 13, 2023 7:15am
Quoting ryuryu
{quote} Most traders fail because they believe that it is possible to outperform knowledge, money and speed using drawing tools and "correct mindset". So may be, just may be, instead of paying attention to non-existent things like "trading psychology" better pay attention to real things like math? If you can't calculate basic things no mindset will help you. How you think?
Attached Image (click to enlarge)
Click to Enlarge Name: mindset.jpg Size: 50 KB
I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #75
  • Mar 4, 2023 8:32pm Mar 4, 2023 8:32pm
Please note that this thread is for personal use only and should not be used for commenting or posting any content. (related or not)

It is a collection of notes that I refer to regularly, and is not intended for public.

If you have something to share, please find another thread or create your own.

This is a private space for me and a few friends to hang out.

Thank you for respecting my privacy.
I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #76
  • Mar 4, 2023 8:34pm Mar 4, 2023 8:34pm
PAT PULLBACK 1


How to master pullbacks in trading - A step-by-step guide on how to identify, mark and execute trades with confidence.

Key concept to select such as Price Direction ,Structure breaks, Valid pullbacks, Supply & Demand zones and Liquidity Imbalances.

How to analyze a lower time frame to confirm a change in market character before taking any trade. To have the knowledge and the tools to increase your chances of success in trading pullbacks.

CHoCH stands for change of character
BOS stands for break of structure.
Imbalance equals to basically Gap
Demand equals to buying pressure
Supply equals to selling pressure
LQ = Liquidity is how active the market is
OB = Order Block is the place of an order either for a sell or a purchase of a huge number of Securities
this is basically where the banks and institutions put their orders.
N3 = Entry
SNR = Support & Resistance
LTF = Low Tife Frame
HTF = High Time Frame

cont/-
I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #77
  • Mar 4, 2023 8:35pm Mar 4, 2023 8:35pm
Quoting Pat Chiko
PAT PULLBACK 1 How to master pullbacks in trading - A step-by-step guide on how to identify, mark and execute trades with confidence. Key concept to select such as Price Direction ,Structure breaks, Valid pullbacks, Supply & Demand zones and Liquidity Imbalances. How to analyze a lower time frame to confirm a change in market character before taking any trade. To have the knowledge and the tools to increase your chances of success in trading pullbacks. CHoCH stands for change of character BOS stands for break of structure. Imbalance equals to basically...
PAT PULLBACK 2


To execute Pat’s Pullback trades by following this six steps:

# 1 is identify price direction or the direction of the market
# 2 Mark your structure break
# 3 identify a valid pullback
# 4 Mark supply and demand zones liquidity and imbalances
# 5 wait for the price to return to the zone
# 6 check the LTF for a CHoCH, take trade such stop loss target recent highs or lows
I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #78
  • Mar 4, 2023 8:45pm Mar 4, 2023 8:45pm
Quoting Pat Chiko
{quote} PAT PULLBACK 2 To execute Pat’s Pullback trades by following this six steps: # 1 is identify price direction or the direction of the market # 2 Mark your structure break # 3 identify a valid pullback # 4 Mark supply and demand zones liquidity and imbalances # 5 wait for the price to return to the zone # 6 check the LTF for a CHoCH, take trade such stop loss target recent highs or lows
PAT PULLBACK 3

Start with making HH, HL

# 1 is we identify the price direction
So the price direction is go to the higher time frame like the four hours and identify the direction of the price. Let's say here price is making HH, HL

Side note : A day trader your higher time frame will be the four hours
If you're a swing Trader your higher time frame will be the weekly
If you are a scalper your higher time frame will be the one hour

Eg; a day trader and this is the four hours.
You identify the direction of the market you check that put that aside.
Attached Image (click to enlarge)
Click to Enlarge Name: BOS 2.jpg Size: 173 KB


# 2 Mark your recent break of structure.
Where was your last or your or your recent breakup structure so this will be your recent break of structure okay all right so the price make high high block this structure you mark it.
Attached Image (click to enlarge)
Click to Enlarge Name: bos 3.jpg Size: 168 KB


# 3 is identify a valid pullback.
You will identify a valid pullback before the price comes back to your supply or demand zones

# 4 Mark Demand zones liquidity inbound or liquidity and imbalances.
Around after this move happened there has to be some type of a demand that pushed up the market before breaking this structure here.
So you have to mark your demand zones within this move before the break of structure and look for if there's any liquidity sitting here or any imbalances within this move or any gap within this move.
Attached Image (click to enlarge)
Click to Enlarge Name: bos 5.jpg Size: 158 KB


# 5 wait for the price to return to the zone.
Go to the low time frame you wait for the price to return to the Zone okay price when it's coming back to the Zone it gives you that LH, LL.
If this is the uptrend market price coming back to the demand Zone it will give you low highs and lower lows until it reaches the demand Zone area.

# 6 the lower time frame for a CHoCH
Go to the low time frame 30 minutes or can go lower if you are a professional trader.
Go to the 30 minutes and identify a CHoCH where price going to be before hits the demand zone
The sequence of price formation will be like, LH ,LL and then HH breaking the the LH that led to this lower low so now we have a Bullish CHoCH.
Once the price hit the demand Zone it gives us that CHoCH which is a confirmation.

The go for your N3, put SL and watch it happen.
Attached Image (click to enlarge)
Click to Enlarge Name: bos 4.jpg Size: 57 KB
I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #79
  • Mar 18, 2023 11:43pm Mar 18, 2023 11:43pm
Smart Money Concept: Manipulation 1

Smart money Concepts based on the Wyckoff methodology and you'll notice that there are a lot of rules about what the market should do in each market phase
The problem with that is that trying to box the market into predefined patterns is like trying to impose someone's idea on what the market should.

The same exact problem happens with the elite wave theory there are all these specific rules about what the market should do
The reality is that the market does whatever it wants to do.
The correct approach is having a methodology that reacts to the market in any situation, instead of imposing what the market should do.

cont/-
I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #80
  • Mar 18, 2023 11:47pm Mar 18, 2023 11:47pm
Quoting Pat Chiko
Smart Money Concept: Manipulation 1 Smart money Concepts based on the Wyckoff methodology and you'll notice that there are a lot of rules about what the market should do in each market phase The problem with that is that trying to box the market into predefined patterns is like trying to impose someone's idea on what the market should. The same exact problem happens with the elite wave theory there are all these specific rules about what the market should do The reality is that the market does whatever it wants to do. The correct approach is having...
Smart Money Concept: Manipulation 2

In the case of Wyckoff, you try to spot this low reversal pattern in the way the methodology proposes
You will spend most of your time trying to find this pattern while you miss the great trade opportunities happening in front of you.

With that in mind, we try to find the more simplfied method using based on Wyckoff.
It is simple and the best thing about it it's that it's very easy to see and usually yields a very powerful trade opportunity.

Wyckoff used to talk a lot about how to spot the manipulative manoeuvres by observing supply and demand and volume but in this case, you can spot these patterns just by observing candlesticks.
In a Wyckoff method there's a lot of talk about the spike in the case of an accumulation or the up thrust after distribution in the distribution, which are the most important manoeuvres that Traders following this method aim to catch.

The problem is that the Wyckoff method makes a lot of restrictions about what needs to happen before these key manoeuvres
Manipulative manoeuvres are simpler than that.
They happen without the necessary appearance of preliminary stops, climaxes tests and secondary tests

cont/-
I come from the future.
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