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Volman meets Burke or My journey with PA

  • #2,481
  • Apr 19, 2023 9:40am Apr 19, 2023 9:40am
Quoting Butters
Stopped out for 2.5R. I'm happy with that. I'll see what sets up for tomorrow.
Where was your initial SL??
Success = Practice + Patience + Persistence
  • #2,482
  • Apr 19, 2023 9:50am Apr 19, 2023 9:50am
Quoting fxpider
{quote} Where was your initial SL??
Likely a fairly small stop above the entry area. My guess.
Mark ... Everything you have been told is a LIE
  • #2,483
  • Apr 19, 2023 9:50am Apr 19, 2023 9:50am
Quoting fxpider
{quote} Where was your initial SL??
Short entry was 134.81, initial SL was 15 pips above at 134.96. Stopped out at 134.43 for +38 pips.
Virtue signaling is for those who are devoid of actual virtue
  • #2,484
  • Apr 19, 2023 10:10am Apr 19, 2023 10:10am
Quoting Butters
{quote} Short entry was 134.81, initial SL was 15 pips above at 134.96. Stopped out at 134.43 for +38 pips.
Nice trade.
Success = Practice + Patience + Persistence
  • #2,485
  • Apr 19, 2023 10:23am Apr 19, 2023 10:23am
When there is no USD data the US session tends to be slow and tight. More reason to find those time window moves. And they are fairly consistent, just look.
Mark ... Everything you have been told is a LIE
  • #2,486
  • Apr 19, 2023 10:26am Apr 19, 2023 10:26am
Quoting fxpider
{quote} Nice trade.
Thank you. SB's course has helped a lot. Before I would go to my screen with no thesis for the day and just look for setups, now I know what I'm looking for ahead of time. That was my one trade for the day, just watching to see how things set up for tomorrow on UJ. I have no bias in either direction as of now, it all depends on how it closes the day.

Time for pizza.
Virtue signaling is for those who are devoid of actual virtue
  • #2,487
  • Apr 19, 2023 10:40am Apr 19, 2023 10:40am
Quoting Butters
{quote} Thank you. SB's course has helped a lot. Before I would go to my screen with no thesis for the day and just look for setups, now I know what I'm looking for ahead of time. That was my one trade for the day, just watching to see how things set up for tomorrow on UJ. I have no bias in either direction as of now, it all depends on how it closes the day. Time for pizza.
Same here. My view of the chart is heavily influenced by SB. I don't get all of his stuff though. However, I like to trade the signal days and 3 DC. What about you and which pairs do you trade?
Success = Practice + Patience + Persistence
  • #2,488
  • Apr 19, 2023 10:44am Apr 19, 2023 10:44am
Quoting Butters
{quote} Thank you. SB's course has helped a lot. Before I would go to my screen with no thesis for the day and just look for setups, now I know what I'm looking for ahead of time. That was my one trade for the day, just watching to see how things set up for tomorrow on UJ. I have no bias in either direction as of now, it all depends on how it closes the day. Time for pizza.
The SB method helped me a lot in putting form to the market structure.

Currently working on a theory derived from something Burke has mentioned a couple times, almost in passing but not, yet he never expounded on them much. It is interesting, Not sure how to make use of it as of yet.

In the end it all still comes down to price and how you interpret it.
Mark ... Everything you have been told is a LIE
  • #2,489
  • Apr 19, 2023 10:49am Apr 19, 2023 10:49am
Thinking of taking up the EU scalp project.

Attached Image (click to enlarge)
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Mark ... Everything you have been told is a LIE
  • #2,490
  • Apr 19, 2023 10:51am Apr 19, 2023 10:51am
Quoting spzd
Thinking of taking up the EU scalp project. {image}
Trade it about the same way as the indices.
Mark ... Everything you have been told is a LIE
  • #2,491
  • Apr 19, 2023 10:52am Apr 19, 2023 10:52am
Quoting spzd
{quote} Trade it about the same way as the indices.
GU has a bigger ADR, IMO.
Success = Practice + Patience + Persistence
  • #2,492
  • Apr 19, 2023 10:59am Apr 19, 2023 10:59am
Quoting fxpider
{quote} GU has a bigger ADR, IMO.
Not looking for the adr moves. Looking for clean moves within my method and EU fits that better than GU. That is also why I lean toward UJ as opposed to GJ.

Even though I study Burke, Volman, and other "naked" traders, I have my ways. I have been able to "fit" my method into the market structure framework. For currencies I think a lot of the action occurs coming out of Asia into/through Europe with the US being more of the clog then the smooth flow.

My psych makeup leans toward short term.
Mark ... Everything you have been told is a LIE
  • #2,493
  • Apr 19, 2023 11:03am Apr 19, 2023 11:03am
Quoting spzd
{quote} Not looking for the adr moves. Looking for clean moves within my method and EU fits that better than GU. That is also why I lean toward UJ as opposed to GJ. Even though I study Burke, Volman, and other "naked" traders, I have my ways. I have been able to "fit" my method into the market structure framework. For currencies I think a lot of the action occurs coming out of Asia into/through Europe with the US being more of the clog then the smooth flow. My psych makeup leans toward short term.


Keep us posted.
Success = Practice + Patience + Persistence
  • #2,494
  • Apr 19, 2023 11:04am Apr 19, 2023 11:04am
Stock indexes and the previous day's close. If they (those that move markets) can hit the PDC, they most often will or at least make a good try at some point in the session.

Attached Image (click to enlarge)
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Mark ... Everything you have been told is a LIE
  • #2,495
  • Apr 19, 2023 11:06am Apr 19, 2023 11:06am
Quoting spzd
Stock indexes and the previous day's close. If they (those that move markets) can hit the PDC, they most often will or at least make a good try at some point in the session. {image}
The green line is my longest period mid-point.
Mark ... Everything you have been told is a LIE
  • #2,496
  • Apr 19, 2023 11:20am Apr 19, 2023 11:20am
Quoting fxpider
{quote} Same here. My view of the chart is heavily influenced by SB. I don't get all of his stuff though. However, I like to trade the signal days and 3 DC. What about you and which pairs do you trade?
UJ is my weapon of choice, but I keep an eye on other pairs and will probably trade a couple other ones in the future, but I'm just sticking with UJ for now. I like to keep my focus narrow so I don't get distracted. As for setups, I like FRD/FGD, first bounce, and false/failed breaks of weekly levels (highs, lows, initial balance). My goal is to master all the setups, but I'm not gonna rush it. It'll come with time. The 3 day cycle is starting to gel, so that will help. Gonna start incorporating the 3 week cycle into my analysis too, I think that could result in catching really big moves and perhaps doing some swing trades. For example, first green week, then look for a false/failed break of a weekly low to go long and even consider holding for days instead of minutes to hours. We'll see. There's always more to learn and fine-tune. I enjoy it.
Virtue signaling is for those who are devoid of actual virtue
  • #2,497
  • Apr 19, 2023 11:22am Apr 19, 2023 11:22am
Quoting spzd
Stock indexes and the previous day's close. If they (those that move markets) can hit the PDC, they most often will or at least make a good try at some point in the session. {image}
There it is. This has turned into what Al Brooks calls "all in long" day. That is only look for longs until it decides to turn or slide sideways.

No matter what you trade you need to learn to recognize when a market is trending, when it is coming to the end of a move, and the process when it tops and bottoms.

IMO, if you are going to be a trader you need to become a student of the instruments you trade. I prefer to become a master of a couple as opposed to a jack of all who never quite gets it.

Attached Image (click to enlarge)
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Mark ... Everything you have been told is a LIE
  • #2,498
  • Apr 19, 2023 11:25am Apr 19, 2023 11:25am
I have some Al Brooks books. I need to read them. lol
Virtue signaling is for those who are devoid of actual virtue
  • #2,499
  • Apr 19, 2023 11:28am Apr 19, 2023 11:28am
Quoting Butters
I have some Al Brooks books. I need to read them. lol
Get good at what you are doing. Brooks is at times obtuse. He is also very short term, bar to bar.
Mark ... Everything you have been told is a LIE
  • #2,500
  • Apr 19, 2023 11:35am Apr 19, 2023 11:35am
I am done for today. UC is setting up nicely. Tomorrow, I will be looking at its PA around the PDH (today's HIGH).

Good night and take care.
Success = Practice + Patience + Persistence
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