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Price Action Trading (PAT) - Amplifying Market Insights

  • #241
  • Mar 11, 2023 9:49am Mar 11, 2023 9:49am
instead of sticking themselves on streets without vision or demonstrating senselessly, young people could be inspired by this non-academically educated person.

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trading is like dancing, don't think and just listen to the music!
  • #242
  • Mar 11, 2023 3:31pm Mar 11, 2023 3:31pm
Quoting birdland
instead of sticking themselves on streets without vision or demonstrating senselessly, young people could be inspired by this non-academically educated person. https://www.youtube.com/watch?v=HkZDSqyE1do&t=218s
I prefer this one, call it - personal responsibility, independence, resilience, confidence etc etc

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life is a reflection of what we allow ourselves to see
  • #243
  • Mar 11, 2023 6:46pm Mar 11, 2023 6:46pm
For birdland and mikeeating ....

yes they are good examples. For me. I like to put these ones in front of the younger people ......

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and this one ....

https://drive.google.com/file/d/1SBm...MI0dP_Hzj/view

If the younger person is willing to concede that most people (Both in the shadows and out in front) really only ever recycle what they've been told and taught, then it becomes clear that most people really never actually learn anything. Hence part of the reason why young/er people have trouble connecting to older people. Most older people have the same problems as young people but with greater compounding and compression. And why the world is in the shape it's in. People want to acknowledge being "in the world" but not being a product "of the world". I guess it's too inconvenient hehehehe.

Peter
Real Trading is not gambling.
  • #244
  • Edited 4:12pm Mar 12, 2023 3:57pm | Edited 4:12pm
Daily chart GU
After the ABC pattern, a new high is expected. But we don't always get to the full target. Two zones above the market can stop the progress. First @1.2113-xx38and the second @12314-1.2413
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and the 1H chart of what to expect today.
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Always trade your own plan...I don't provide trading signals.
  • #245
  • Mar 12, 2023 7:37pm Mar 12, 2023 7:37pm
Hi all, after reading Pat's post about participating in forum discussions as a way to become a better trader - decided to join the bandwagon by being more active in the forum. I am relatively new to trading, trade only GBPUSD and my strategy is TRSR by mrlan09 which focuses on Trend, Retrace/Reversal, Support & Resistance. Hoping to learn more on Supply and demand to increase confluence to my trading style and become a better trader overall. Cheers.
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Weekly view for GU is bullish, with a pinbar above support. I'll be looking for buys from 1.1915 with stops at 1.18. Target resistance for this week is 1.227.
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Key entry for GU this morning is h4 close above 61.8 in a weekly Fib range.

I do not have a solid trading plan yet. What's important to me is identifying trend, knowing when to cut losses and when to take profit. End goal is to have a profitable mechanical system with emotionless trading.
  • #246
  • Mar 12, 2023 9:19pm Mar 12, 2023 9:19pm
Quoting PeterCaleb
{quote} Simple. He said it after others have said it. Of his words, it is not original. Thus it is frequently used out of context. And so it is not the initial thought of the process in lieu of learning. Perhaps you understand that, perhaps you don't. And as I have said, trying to explain something to someone who is not open to learning, usually creates problems. Therefore one must address step 1 before trying to engage the new learning. Scientific principles are great when standing in a tunnel, but if you are in a forest, you'll[/highlight]...
I agree, Mate. Cheers!

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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #247
  • Mar 12, 2023 9:24pm Mar 12, 2023 9:24pm
Quoting PeterCaleb
I don't hijack anything, what a silly thing to say. I see how much time people waste. Some people have A LOT to learn but I'm afraid people such as bfx17 wouldn't last very long in a real trading office environment. You're too busy picking your nose. I look for opportunities, be it in trading or on these sites. That is all. I won't force you to change, Life will do that. I simply have a no bullshit approach and many people are fakes plain and simple. Too much attitude and not enough of other things. I don't want to waste my time or yours. Period....
Your chart doesn't show the price levels on the right. It appears your trades go into deep drawdown before you exit with a profit. Would you be so kind as to share your money management (risk) strategy? Cheers!
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #248
  • Mar 13, 2023 2:01am Mar 13, 2023 2:01am
Quoting DerTrader
Hi all, after reading Pat's post about participating in forum discussions as a way to become a better trader - decided to join the bandwagon by being more active in the forum. I am relatively new to trading, trade only GBPUSD and my strategy is TRSR by mrlan09 which focuses on Trend, Retrace/Reversal, Support & Resistance. Hoping to learn more on Supply and demand to increase confluence to my trading style and become a better trader overall. Cheers. {image} Weekly view for GU is bullish, with a pinbar above support. I'll be looking for buys from...
As someone who has very little respect for these site's rules and politics, I would encourage you to ask yourself one simple question = Do you want to learn or become just another clone or crony of all these people here? Such rubbish that someone from the real world "needs to participate in forums" to learn. Absolute rubbish. Maybe if you desire high 5's from semi strangers all day but really, not at all necessary if your main goal is to learn to trade your own private accounts. My suggestion = stand to the back or side, keep quiet and make as many observations and notes as you possibly can and do your best to stay away from silly "conversations" on forums. They're a time waster.

Peter
Real Trading is not gambling.
  • #249
  • Mar 13, 2023 2:15am Mar 13, 2023 2:15am
Quoting TooSlow
{quote} Your chart doesn't show the price levels on the right. It appears your trades go into deep drawdown before you exit with a profit. Would you be so kind as to share your money management (risk) strategy? Cheers!
Please refer to the following post here ....

https://www.forexfactory.com/thread/...4#post14347284

Here I talk about capping my drawdown to 5% or less towards active exposure. Keep in mind it's a 1 min chart. Anything beyond 5% is situated to begin a drawdown counter trade so even if it goes to 25% or even 50% drawdown, I am profiting beyond the constant value of the drawdown. I also watch the incoming transfers so I use that as a contingency to trade against them with the active floating drawdown plus adding an extra layer of contingency by seeking an index to counter the whole trade. The relationships are necessary to counter drawdown. Otherwise a person can only use a blind mechanical format to limit losses.


Peter
Real Trading is not gambling.
  • #250
  • Mar 13, 2023 2:23am Mar 13, 2023 2:23am
Quoting PeterCaleb
{quote} As someone who has very little respect for these site's rules and politics, I would encourage you to ask yourself one simple question = Do you want to learn or become just another clone or crony of all these people here? Such rubbish that someone from the real world "needs to participate in forums" to learn. Absolute rubbish. Maybe if you desire high 5's from semi strangers all day but really, not at all necessary if your main goal is to learn to trade your own private accounts. My suggestion = stand to the back or side, keep quiet and make...


Hi Peter,

Do you find any merits in the following statement, quote:

"95% of the time price will close above or below the open. Amateurs will never see the edge in this quote, unless a professional point it out where the edge lies within this quote."

Do you think one can develop a trading strategy based on this statement or is it just another nonsense written by a professional bullshitter?
On ignore list of scammers, deceivers and low IQ individuals. Exclusively
  • #251
  • Mar 13, 2023 2:44am Mar 13, 2023 2:44am
Quoting bfx17
{quote} Hi Peter, Do you find any merits in the following statement, quote: "95% of the time price will close above or below the open. Amateurs will never see the edge in this quote, unless a professional point it out where the edge lies within this quote." Do you think one can develop a trading strategy based on this statement or is it just another nonsense written by a professional bullshitter?
I find merit in looking at the entire situation. Not statistics. Whoever wrote that, to me anyway, means little. The concept of an open price is valid only if the status quo remains the same. Open prices exist as a means to use them and to gauge what comes next, nothing more. If we all moved to platforms that did not use open close prices etc then any direct edge that's present would dissolve. So I don't mind either way if someone believes they're useful or not.

One easy observation that can be made though, is the "flat doji" you people love to name and talk about, where the open and close are either on top of each other or near to one another and so, the interval's distance moved is 0 or very small. This type of candlestick formation does happen but not often enough to be considered "normal". But hey, I know you think I'm full of shit so you go look it up yourself.


Peter
Real Trading is not gambling.
  • #252
  • Mar 13, 2023 3:03am Mar 13, 2023 3:03am
Quoting PeterCaleb
{quote} I find merit in looking at the entire situation. Not statistics. Whoever wrote that, to me anyway, means little. The concept of an open price is valid only if the status quo remains the same. Open prices exist as a means to use them and to gauge what comes next, nothing more. If we all moved to platforms that did not use open close prices etc then any direct edge that's present would dissolve. So I don't mind either way if someone believes they're useful or not. One easy observation that can be made though, is the "flat doji" you people...


It was a trap question, but an easy one, obviously, and I knew you wont fall for it, because I know that you are a smart person

Thanks for your answer.

PS next one will be trickier
On ignore list of scammers, deceivers and low IQ individuals. Exclusively
  • #253
  • Mar 13, 2023 3:53am Mar 13, 2023 3:53am
Quoting bfx17
{quote} It was a trap question, but an easy one, obviously, and I knew you wont fall for it, because I know that you are a smart person Thanks for your answer. PS next one will be trickier
Yeah good one buddy. There's no trap. Dickheads will be dickheads. My response is for THEM, who wish to learn. For me it's just becoming easier and easier to spot dickheads. The world really is becoming smaller.

Cheerio


Peter
Real Trading is not gambling.
  • #254
  • Mar 13, 2023 3:57am Mar 13, 2023 3:57am
where is Pat?
rip and tear until it's done
  • #255
  • Mar 13, 2023 4:19am Mar 13, 2023 4:19am
Quoting sisucoro
where is Pat?
I think he was bored with so many words but few deeds. These are pages that I read but I don't see a chart and a decent analysis (except for the usual traders).
  • #256
  • Mar 13, 2023 8:25am Mar 13, 2023 8:25am
Quoting PeterCaleb
{quote} As someone who has very little respect for these site's rules and politics, I would encourage you to ask yourself one simple question = Do you want to learn or become just another clone or crony of all these people here? Such rubbish that someone from the real world "needs to participate in forums" to learn. Absolute rubbish. Maybe if you desire high 5's from semi strangers all day but really, not at all necessary if your main goal is to learn to trade your own private accounts. My suggestion = stand to the back or side, keep quiet and make...
Trading is a lonely journey, here I am in the forum looking for like minded ppl trading the cable. I did not participate in the GU thread as there's a lot of toxicity within. Not looking for claps or hoohahs, just different perspectives on GU. Guess not welcome here either. I'll take my leave. Cheers.
  • #257
  • Mar 13, 2023 8:25am Mar 13, 2023 8:25am
Quoting PeterCaleb
{quote} Please refer to the following post here .... https://www.forexfactory.com/thread/...4#post14347284 Here I talk about capping my drawdown to 5% or less towards active exposure. Keep in mind it's a 1 min chart. Anything beyond 5% is situated to begin a drawdown counter trade so even if it goes to 25% or even 50% drawdown, I am profiting beyond the constant value of the drawdown. I also watch the incoming transfers so I use that as a contingency to trade against them with the active floating drawdown plus adding an extra...
Thanks, Mate. That was illuminating. Cheers!
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #258
  • Mar 13, 2023 10:06am Mar 13, 2023 10:06am
Quoting DerTrader
{quote} Trading is a lonely journey, here I am in the forum looking for like minded ppl trading the cable. I did not participate in the GU thread as there's a lot of toxicity within. Not looking for claps or hoohahs, just different perspectives on GU. Guess not welcome here either. I'll take my leave. Cheers.
DerTrader, welcome to the thread. Don't be discouraged, tell us what your strategy is and we will discuss possible scenarios as the price unfolds. Here is my 5M chart and how I see it as my area of interest. I too escaped the toxicity of Cable thread.
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Always trade your own plan...I don't provide trading signals.
  • #259
  • Mar 13, 2023 12:16pm Mar 13, 2023 12:16pm
Quoting Coreg2004
{quote} DerTrader, welcome to the thread. Don't be discouraged, tell us what your strategy is and we will discuss possible scenarios as the price unfolds. Here is my 5M chart and how I see it as my area of interest. I too escaped the toxicity of Cable thread. {image}
DRE was touched @1.2200. Daily target reached. https://www.forexfactory.com/thread/...3#post14357673
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Always trade your own plan...I don't provide trading signals.
  • #260
  • Mar 13, 2023 5:11pm Mar 13, 2023 5:11pm
Quoting Coreg2004
{quote} DerTrader, welcome to the thread. Don't be discouraged, tell us what your strategy is and we will discuss possible scenarios as the price unfolds. Here is my 5M chart and how I see it as my area of interest. I too escaped the toxicity of Cable thread. {image}
Hi Coreg, today there's 2 major news - GBP Claimant Count Change & US CPI. Looking at the Daily, I think price is likely to first test 1.2125 and next yesterday's low of 1.205. I'll be watching what happens around yesterday's low to get an indication of where price is headed next.
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Looking at H4, I spikeys from news can test 1.20 - likely my levels of SL if i enter long positions today. Highly likely not trading US session today as I'm always caught by surprise by CPI price action. Maybe I'll stay sideline and take notes on what happens post news
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