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Price Action Trading (PAT) - Amplifying Market Insights

  • #141
  • Mar 9, 2023 1:34am Mar 9, 2023 1:34am
Quoting PeterCaleb
Most people around do not know the difference in the real world between substantiate and justify. Just thought I'd mention this seeing as most who try to learn get heeled into set ways of thinking without actually seeing what is happening. You can take this as opinion if you like, it's not my trading that's affected. But you WILL need to learn that 'a setup' does not translate to substantiated. This is not the same as saying "quantified". It means you have to, at some point, start thinking and so assume, that all peoples around you do not understand...
Peter,
Quick question:

Where and how did you learn to trade forex?
Most are underfunded and don't have banker mates or some other non-retail avenue for becoming non-internet mongrelised. Seriously, where and how?
  • #142
  • Mar 9, 2023 1:37am Mar 9, 2023 1:37am
Quoting PeterCaleb
{quote} My position is simple - let the kiddies play with their charts while the adults talk about real stuff. You might have been around for a while, but while you've played with charts I've been actually working in the real world .... trading. So at some point you will realize real knowledge doesn't come from your charts or eco data. I'm not being a smart ass here. If I was to say or show how I do a push trade, do you have any clue what that means? In that simple language do you know? So the things I speak about don't come from here say or "website...
Quick question:

What is a push trade as you see it?
  • #143
  • Mar 9, 2023 1:40am Mar 9, 2023 1:40am
Quoting Pat Chiko
You can read chart flawless, but still losing.......! After delving into price action and grasping the concepts of support, resistance, and market structure, dedicate yourself to studying it thoroughly. You work soo sooo hard.... (no party at all) Wtched the market closely with these ideas in mind and you be able to anticipate the market's reaction to certain levels and how far it would move. with screentime your ability to anticipate market movements will significantly improved. Despite all that ability to read the market effectively,...
One of the things that make most traders blown off their account is lack of risk management.

I prefer to have low risk high return. This means... I love to ride a trend
  • #144
  • Mar 9, 2023 1:58am Mar 9, 2023 1:58am
Quoting FocusWinReal
{quote} Peter, Quick question: Where and how did you learn to trade forex? Most are underfunded and don't have banker mates or some other non-retail avenue for becoming non-internet mongrelised. Seriously, where and how?
In early 80's started with floor trading which then led to trading my own accounts. After '87-8 I left floor work and setup my office and began trading full-time. Other things I learned through Life and reading and researching. The layers of society are detailed online for anyone to look into. Keep objective and try to learn instead of judging as you go.

The places i worked either don't exist now or have changed the way they do things. The basics of every indication are still available for use. The mutations don't really help as they're positioned to react not input.

My boss showed me the client is always impetuous and greedy unless they have learned to control themselves. The better the control and self management the better the trade or work they do with someone to do this.

Take each theory of how a market works and only focus on what you can track. If you become serious enough, you will then have some time to learn about other things.

Peter
Real Trading is not gambling.
  • #145
  • Mar 9, 2023 2:09am Mar 9, 2023 2:09am
Quoting FocusWinReal
{quote} Quick question: What is a push trade as you see it?
Once the insides of a move have become stale, there will be the larger forceful move that drives the market "price direction" being printed to respond strongly. These days, it looks a lot like a slow swing or double edged reversal. It's the final move out of that section of initial price distribution and so then the accumulation. What retailers call the exit move. It's what traders always "want" because the BIGness of it catches your eyes and looks "juicy". In some situations one can trade both directions of such a move depending on rate of change as well as the next segment on a larger scale. Once you have traded the push enough you can learn by feel and observations just how much "liquidity" is behind it.

Peter
Real Trading is not gambling.
  • #146
  • Mar 9, 2023 2:20am Mar 9, 2023 2:20am
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My opinion on GU. Today
  • #147
  • Mar 9, 2023 2:41am Mar 9, 2023 2:41am
Quoting PeterCaleb
{quote} In early 80's started with floor trading which then led to trading my own accounts. After '87-8 I left floor work and setup my office and began trading full-time. Other things I learned through Life and reading and researching. The layers of society are detailed online for anyone to look into. Keep objective and try to learn instead of judging as you go. The places i worked either don't exist now or have changed the way they do things. The basics of every indication are still available for use. The mutations don't really help as they're...
Do I understand correctly that you are a senior professional who was actively trading on the floor in 1987 and utilized a phone to execute your trades?
  • #148
  • Mar 9, 2023 2:49am Mar 9, 2023 2:49am
Quoting france001
{quote} Do I understand correctly that you are a senior professional who was actively trading on the floor in 1987 and utilized a phone to execute your trades?
Not me with the phone no. I used teletext screens. Silly things, hurt my eyes by end of day. Yes I'm old .... but not dead. Now i just do some trading but not as it was years ago.

Peter
Real Trading is not gambling.
  • #149
  • Mar 9, 2023 2:54am Mar 9, 2023 2:54am
The old green and black ones were "new" back then but we still used phones. I think I've still got some photos of me sitting at my desk round here somewhere. Anyway, yes old old stuff. I also did work in the pit, my boss wanted me to "experience the life" of working there.
Real Trading is not gambling.
  • #150
  • Mar 9, 2023 3:05am Mar 9, 2023 3:05am
Quoting PeterCaleb
{quote} In early 80's started with floor trading which then led to trading my own accounts. After '87-8 I left floor work and setup my office and began trading full-time. Other things I learned through Life and reading and researching. The layers of society are detailed online for anyone to look into. Keep objective and try to learn instead of judging as you go. The places i worked either don't exist now or have changed the way they do things. The basics of every indication are still available for use. The mutations don't really help as they're...
How did you start before you entered the floor? were you apprenticed or mentored by someone - so actually taught someone else's system? or did you have to demonstrate your consistency with your own resources and then someone mentored you into the "business".
life is a reflection of what we allow ourselves to see
  • #151
  • Mar 9, 2023 3:12am Mar 9, 2023 3:12am
Quoting pipcenturion
USDJPY December 20, 2022 sold off for about 691 pips. Within the price range of that candle, 137.29 was the highest VAP value reached. Now, price is back within the range and has succeeded in taking out the high. Should I buy the breakout? I looked left and found 2 H4 candles whose VAP levels have not been tested (November 30, 2022) The higher of the two levels has supply at 137.90X I suggest selling there with stop loss slightly above 138.19 First target will be 136.33 where price did the highest H4 volume for the current week. After price gets...
I closed this trade a few minutes ago.
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  • #152
  • Mar 9, 2023 3:15am Mar 9, 2023 3:15am
Quoting PeterCaleb
{quote} Once the insides of a move have become stale, there will be the larger forceful move that drives the market "price direction" being printed to respond strongly. These days, it looks a lot like a slow swing or double edged reversal. It's the final move out of that section of initial price distribution and so then the accumulation. What retailers call the exit move. It's what traders always "want" because the BIGness of it catches your eyes and looks "juicy". In some situations one can trade both directions of such a move depending on rate...
Ok thanks Peter.
  • #153
  • Mar 9, 2023 3:15am Mar 9, 2023 3:15am
Quoting mikeeating
{quote} How did you start before you entered the floor? were you apprenticed or mentored by someone - so actually taught someone else's system? or did you have to demonstrate your consistency with your own resources and then someone mentored you into the "business".
Yes I was apprenticed by my father's old friend from school. But my app. started long before that. They used to talk about work and once I grew up I asked to learn. Yes all those things. I was not THAT privileged at all. I had to demonstrate my competency otherwise the other guys there would not work with me which meant I couldn't do anything but get coffee. SO yes a lot to learn.
Real Trading is not gambling.
  • #154
  • Mar 9, 2023 3:16am Mar 9, 2023 3:16am
learning about trades is a skill set.
Real Trading is not gambling.
  • #155
  • Mar 9, 2023 3:32am Mar 9, 2023 3:32am
I am aware that I am still learning price action trading, so there is a chance that my understanding may be incorrect. I hope that my thoughts do not mislead you , my friends, and I am open to corrections and feedback from more experienced traders
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  • #156
  • Mar 9, 2023 5:16am Mar 9, 2023 5:16am
Quoting PeterCaleb
{quote} Yes I was apprenticed by my father's old friend from school. But my app. started long before that. They used to talk about work and once I grew up I asked to learn. Yes all those things. I was not THAT privileged at all. I had to demonstrate my competency otherwise the other guys there would not work with me which meant I couldn't do anything but get coffee. SO yes a lot to learn.
Hi Peter, I have gone through your thread regarding percentage trading. (I did Master in Business in 2000, just to introduce me...though new in trading forex) Your charts look good...rather it always sounds good when making analyses on what has happened...perhaps everyone can.
I read all your posts on 3 pages of that thread. That lack the idea regarding entry...What I saw is, you converted your imaginations to the charts...you criticized behaviour of most of the traders...but...what did you contribute after that. (sorry for my language)

What most of the people (including me) expect is... when you share your idea, this must guide others to help draw these percentages on the live chart that is not printed yet and make decisions where to enter and where to exit. Unfortunately your thread discontinued on sep 2021 with out revealing what you were pretended to reveal.
That idea burried alive.
  • #157
  • Mar 9, 2023 6:39am Mar 9, 2023 6:39am
Quoting Indigo45
{quote} Hi Peter, I have gone through your thread regarding percentage trading. (I did Master in Business in 2000, just to introduce me...though new in trading forex) Your charts look good...rather it always sounds good when making analyses on what has happened...perhaps everyone can. I read all your posts on 3 pages of that thread. That lack the idea regarding entry...What I saw is, you converted your imaginations to the charts...you criticized behaviour of most of the traders...but...what did you contribute after that. (sorry for my language)...
Let me explain something here ..... whatever you 'expect' or feel you 'should receive' are meaningless. I suggest you go back to that thread ....
https://www.forexfactory.com/thread/...trading?page=3 .... and take another look.

My approach with people is this .... learn, die trying or ... just give up. It's how I learned. That percentage thread is meant to introduce different pieces to people, not tell them how to trade. Anywhere I go on these sites I do not tell people "look at this, enter here, put stop there and exit here". What is the point in rehashing basic ideas. I don't feed people I push them to force themselves to go further. I may give hints or tips sometimes, but I have seen all over these sites just how totally ineffective feeding people is. Every single person I have encountered has their own situation. So every approach will be a little unique. Entering any transaction - you have 3 choices .... buy, sell or do both in some way if required. So that thread never died, I simply didn't try to keep it active just so people could "chit chat".

Clearly you are still learning to observe the similar alongside the known random on your chart. I can assure you those tools I have shown work in real time, but you need to understand that it's not a one tool fits all situation. Some I use more often but it will depend on what you want to do. As for many of them, they are simply a fib tool with the %'s changed as you see on the charts. That thread has had new posts placed on it (as at 3 March 2023) so I suggest people have another look.

As for anything else, it's the reason why my other thread was created..... to help teach people common sense..... trading style, not the assumed way people think they use and have common sense out in the world.

I hope that helps.

Peter
Real Trading is not gambling.
  • #158
  • Edited 7:18am Mar 9, 2023 6:45am | Edited 7:18am
there is anybody actually TRADING here?

selling at gold, reason, main reason is that the hourly candles are showing tiredness, also that tiny level here, tp at daily open expecting tipical revisit

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after the trade I noticed that this level may be too weak and my entrance too soon, if we jump at h4 we se that this level deasapears, only wicks and the actual level is the yesterday high
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rip and tear until it's done
  • #159
  • Mar 9, 2023 7:03am Mar 9, 2023 7:03am
I am sidelined for now. took Profit on UJ short position .. waiting for NFP tomorrow
  • #160
  • Mar 9, 2023 7:18am Mar 9, 2023 7:18am
Quoting PeterCaleb
{quote} Let me explain something here ..... whatever you 'expect' or feel you 'should receive' are meaningless. I suggest you go back to that thread .... https://www.forexfactory.com/thread/...trading?page=3 .... and take another look. My approach with people is this .... learn, die trying or ... just give up. It's how I learned. That percentage thread is meant to introduce different pieces to people, not tell them how to trade. Anywhere I go on these sites I do not tell people "look at this, enter here, put...
Thanks peter for responding me with great patience. I have started to read your 2nd thread. And will come back to you with my feedback once done.
I don't want to be spoon fed. But that thread was not getting me anywhere that's why I questioned.
I respect you for taking that much time.
GOD reward you for everything.
Regards,
Kashif
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