Any Advice for a Beginner?

Get yourself a EMA/MA script that allows for multiple EMA/MAs, which you yourself can edit. This allows for all 8 or so of the moving averages that you use, to count as just one indicator as per your Trading View subscription allowance. The one I use is simply called, Multiple Moving Averages.

RSI is RSI
MACD is MACD

Pivot Points are Pivot Points. For Weekly Chart, set to Yearly, For Daily, set to Quarterly, for 4H, set to Monthly, for Hourly, set to Weekly. for 15 minutes, set to Daily. (but I would say focus on basics first, before using PPs to instruct your trading)

and Volume Profiling, is Volume Profile. For Session Volume Profile, setup same intervals as above for Pivot Points (but again, get ur basic shit in order first, before looking at VP).

I set up my charts with multiple PPs and Session VPs, for different time frame, but restrict the visibility of each indicator to certain time frames, so that if I switch from a 4Hr to a 15min chart, the correct PP and VP settings are instantly there, although mostly, I have multiple chart timeframes open for each timeframe:


Trading multiple timeframes is a must. Steer clear of anyone who says, I trade only the 4H chart, etc etc, these people clearly don't know what they are doing.

Try to come up with a model that is entirely your own and makes sense to you and under your own rules.

Hi again,

And thanks @gusparker for a good post to help me out.

I have now a new question,
I'm studying market structure atm, and when I watch the lecture about minor and major structure it makes sense, and I understand it.. but when I then try to study it on my own charts it gets all messy and I do not really know if I'm doing it right or wrong.

Have anyone felt like this, and what is a good way to learn to overcome this?

THanks

Try and err via forward testing with a demo account.

You test your system and try everytime a signal appears. You see it, take it. 1 to 3 rr. Set and forget.

Know that the trade could lose and that is ok. You move on to the next one.

Download Motivewave (community version is free).

Go find a Hairbrained setup somewhere. the sort of things that every retailer and his dog is doing.

Here is one:.

Find a M or a W.
Set a entry order for a 61.8% retrace into the M/W, with SL behind highest peak of M, or lowest trough of W.
Set TP to 2:1 rr

Now sometimes, this strategy will work. Here are a couple of examples of it working in GBPUSD last year:


Most of the time however, if a trader just sits mechanically applying this trade, they will get totally fkd. The trick is knowing the times to apply this technique. Notice in the couple of examples where it worked, it was in counter trend moves. Most traders would be thinking bullishly.

Anyhow, get on MW replay mode, setup a demo account. Start applying this trade whenever you see it. And watch what happens to your account. I would hazard a guess, that over the duration, your account will dwindle, which effectively means that had you took the exact opposite thesis, you would be making money. Look at all your trades again, and observe how the market interacted with your entry and SL levels. What you will often find (in the correct market environment), is that when your trade entry gets blown through, this level will become a resistance level, and your SL level will become a target for the market. There are good reasons for this. Traders who are under water, tend to be desperate for the market to come back to their entry level to let the out the market. The market on the otherhand (controlled by big banks), doesn't want to let trapped traders escape, and wants to harvest dumb money liquidity. Thus, the Trade entry and Stop Loss levels of today, often become the 'Supply & Demand' zones of tomorrow, and that is the essence of Supply & Demand or 'Market Structure' trading. Don't get lured into the retail trap of hunting candle patterns such as ascending triangles, Ms, W,s H&S, etc. In real time, most of these that appear, are traps.

There is no surer trade, than a trade where you have correctly identified a zone full of trapped traders (Desperation Zone), and a target zone full of trapped traders Stop Losses (Pain Zone). Fade retests of Desperation Zones, where the market will not want to move up above (cos doing so will let trapped traders escape), and target (Pain Zones), where the trapped traders realise their losses. You may also notice, the way the impulse moves away from the Desperation Zones, towards the Pain Zones, are often very clean, and smooth, with measured retraces back to mean, and no wipe out candles (cos such candles would only let trapped traders of the hook). Naturally, unless you happen to have access to the trading order books (which you don't, but the banks do), it can take quite a bit of time to get good at recognising when these configurations are in play. And tbh, I only got good at it from having spent years executing the same old n00by sh1t from my trading course, that every other n00by retail trader was doing, seeing the end results, and then turning it all on it's head (when the time was right to do so).

It pays to realise from as early on as possible, that the financial markets aren't a 'battle between buyers and sellers', as 'they' would have us all believe. But totally rigged and controlled environments, where the big banks are routinely rounding up the Dumb Money, and feeding on them. The market is there to take your money off you.

...and here is example of such a scenario as described above (or below) playing out in GBPUSD late last week:



Just to give a clear image of what I am describing.

It is almost impossible to trade someone else's strategy. You feel like this due to the fact that all this information and charts are given to you based on past data. >97% of the information about trading you see on the internet is complete garbage. Do not try to copy someone else's strategy. Sovy gave great advice:
If you are watching someone else's strategy for more than a week, you are just wasting your time.
Look at the GusParker post #165 chart. Do you see that that's a weekly chart? (GusParker are you seriously advising traders to trade a weekly chart?) . Are you ready to trade a weekly chart and hold your trades for months?
Post #166.
Brian Beamish, Trapped Traders, and Pain zone. It's all what you are studying. Market structure atm, minor and major structure. The only difference is that it sounds differently. Who is Brian Beamish and why should markets care about him? Why are traders trapped? The pain zone is something very scary. You will never understand all of this.
Don't use indicators. You should be able to read the chart. Do the work, open charts, and look for something you like.

First of all, you never did my post the credit of reading it properly. Those trades, on the weekly chart, were just example of one of the most common retail trades out there, actually working out. Regarding analysing the Weekly chart for intraday/Swing charts. ABSOLUTELY must a swing trader be doing this. It is from a signal on the weekly charts, that I myself came to my strong dollar bias since 2-3 weeks ago. I may not take a trade off the Weekly, or even the Daily.....but if there are set ups working on those timeframes, perhaps there is a good chance that there will also be something on the 4Hr or 1Hr, or even 15min charts, don't you think? You quite sure you know enough about what you are talking about to warrant going and shooting ur mouth off like that?

Secondly. Brian Beamish is the chump who taught me how to trade.

He, or someone just like him, probably taught you, and most other people in here how to trade.

Brian, pretty much does the same things as everyone else does in the markets, which is why Brian must always lose unless he is value trading Alt-Coins, which is a different kettle of fish entirely (in reality, Brian only value trades Alt coins, whilst just shooting his mouth of about Forex and Futures markets, retro-fitting all his setups to historical charts, to keep all his subscribers flappers flipping).

If Brian, and all the retail traders who frame the markets in a similar way on the whole, are net losers, wouldn't it be a great strategy to somehow take the opposite side of all Brian's trades, just like most retail brokerages do?

At the end of the day, Mattfx042 is going to have to learn some bag of tricks or another. He will take these tools to the market place (hopefully only in Demo mode), get his arse continually kicked by the market....and perhaps learn how the market really works and come up with something individualised to him, just like my strategies of taking the opposite side of all the b.s. that Brian Beamish taught me.

I also strongly nudge Mattfx042, towards Supply & Demand based trading. All these fucking indicators based systems are nothing but horse shit. I burned so many hours of my live with all those sort of concepts, cos for a long time, I never really understood what drives the market, buying into the same old cliched and totally erroneous 'Buyers v Sellers' paradigm, that everyone else buys into. The Market doesn't give a fk about your M Tops, W bottoms, Divergences, Hidden Divergences, MA crosses, Fib Retracements, or Head & Shoulders patterns. The Market only cares about harvesting your Stop Loss.

Play around with weekly and fibs. It'll show consitent entries that does not repy on candle shape. Except i do apply rejection on the fibs as entries.

Weekly, daily, 3h. and a bit of market structure.

And if you miss an entry or exit, simply look at the fib level and enter or exit there.

Hey guy's, I'm looking to sell a system that i developed trough the last years, i have found that this market moves in ranges, and it's small ranges inside bigger ranges and all of them are interconnected. And all of them are interconnected trough fibonacci level's, so long term the market will follow the "" big fib range" while making his moves trough " smaller fib ranges".
I'm looking for one person that can help me and I'll help him and i will show him how this market likes to move.
If anyone is interested let me know and we can talk and I'll try to explain it better to you.
If anyone is interested i will share this with one person only and then I'm done.
If your interested and have no trading experience, this is probably not for you. I'll share what i have to share and then we both move on with our lives, I'm not a teacher or a mentor and have no intentions on becoming one, so I'll take the time necessary for you to understand what I'm talking about but won't answer to everything related to the markets and trading, and it will take some work from your part and probably some testing ( some brokers have slightly different quotes ).

Hi again,

I'm studying market structure atm, but not sure if I'm on the wrong path here.

In this pic I'm trying to find the major market structure on the daily time frame.

- How far of am I?
- What have I missed?
- the blue circles, should these be included or excluded?

Thanks in advance!

What Market is that?

Had you included the market, I would have done a more comprehensive study, but just looking at, I would advise you to get away from identifying pivots as key levels, and try and identify Zones, i.e. where a bunch of your arrows are all sitting around similar levels. Then you will have 'Supply & Demand' zones on your chart. Supply and Demand zones often make good trade entry levels, precisely because so many traders are focused on candle patterns and have been taught to place their Stop Losses behind pivots, which result in liquidity pools for the market to harvest, thus the market has motivation to push towards a pivotal area on the chart, punch into it, and then once the Stops have been rinsed, reverse back to where it came. With the benefit of hindsight, this creates a Supply and Demand zone, where you will see the marketpivot through, around, and off it.

I can see around 7-8 examples of price pushing into Supply & Demand zones where retail Stop Losses would be sitting on that chart, and one example of where classical technical analysis played out like the text books say it should with the small tight bear flag, breaking to down side, with no final rinse of the S&D zone framing the upper bounds of the flag, before the market broke out in earnest to the downside......(and if u are going to trade the way the text books and most of the educators tell you that you should, about a 1-8 win ratio is about the level of success the market will allow you to have).

Otherwise, yeah.

Dow Trend Theory is straightforward stuff (when u have all the historical price action at hand). Identify the highest point of a swing, then the lowest point, then the highest, then the lowest, and so on. So ur arrows are more or less spot in in that regard.

Supply & Demand Zones on Daily Chart in EURGBP:

These will exist buried within smaller timeframes and go unnoticed due to existing on higher time frames. With hindsight it is easy to see how well they have acted as trade locations. Regarding the current price action however, both the upper and lower bounds of current consolidation have been tested 3 times already. The more often a level is tested, the more likely it is to break (although most of the text books would have you believe that the more often a level is tested, the stronger it is). Although on maybe the 1hr chart time frame, long trades in the EURGBP are the current order of the day. Looking at the higher time frame (daily chart), I would say a break below the 0.85 level is the most likely outcome.

I have also marked 5 points where the market moved to RINSE classic Stop Loss levels for the hapless masses of market participants trading classical technical analysis since June, just to highlight how these markets are largely driven by liquidity. The big banks hold all the Euros, and the GBPs, thus they operate the markets purposefully pushing price around to make the mass of other market participants, lose.

And a similar rule as applies to S&D zone resistance/support, can often be applied to 'dynamic Support & resistance', aka, moving averages.

I have highlighted the green 100MA here, as it is the MA that is currently most in play. You will see the multiple instances where it acted as support (with overshoots, naturally) in previous price action, only for it to then act as resistance when the market broke decisively beneath it. Since price broke beneath the 100MA, it has repelled price back to downside, twice, I would absolutely be looking to fade a 3rd test of the 100 MA, with a Stop Loss allowing for an overshoot of the 100MA and yet more rinsing of Stop Loss levels, cos the market does absolutely love Dumb Money liquidity.

My advice, as someone who's slowly and painfully getting better. Price is king. Price action will help put things into perspective for you. Also closing prices are keys.

hello everyone

Please guide me?
Every three months, the commercial banks of the world settle part of their debts and claims
How can I check the rate of change of two currency pairs from the information of the bank's balance sheet?
Sincerely

Learn Price action, iquidity sweeps, breaks of structure, fair value gaps, order blocks and equilibrium. Learn them, understand them and utilize them.

Hi, again ppl,

I will sign up and pay for some backtesting software, but what what I invest in?

- Ninjatrader?
- Nakedmarkets?
- Other?

Look for the root cause of failure.
1: The system is ineffective
2: If you already have a profitable system and have tested it many times, then you are a psychological trader.
The main reason for unstable trading is opening too many positions in one day. too many intense emotions (excitement, confidence, fear...) in one day. No one is strong enough to control it.
To keep your trading psychology balanced day after day, you should only open 1-2 positions per day for Scaping. 1-2 positions per week for Swing. Reevaluate positions at the end of the week. Is it consistent with the system's principles? And avoid repeating old mistakes
“Less is more” That is the key to victory

The most solid advice is not to listen to anyone, research top down analysis and throw away all indicators, as a new trader you will go down the indicator rabbit hole without understanding why they are used or how they are calculated. I would recommend checking out some of Larry William's books, he is one of the best teachers out there and has some interesting views which some I have subscribed to. Completely Avoid chatrooms such as Tradingview chat etc. (do not even open it) guys in there have no clue what they are doing and try to keep the forum usage to a minimum, trading is a very lonely endeavor at the end its only you in front of the screen and only you who makes and loses money.

EDIT: if you really want a squiggly line on your chart, the only one I can recommend with a good conscence is VWAP, goodluck