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Flying Dutchman

  • #9,361
  • Sep 19, 2023 3:05am Sep 19, 2023 3:05am
Quoting TimeTells
{quote} Hi Dave, It was late at night last night just before bed WHEN I had a quick look in and you either quoted or responded to my last chart posted. I decided i would post a (long, lol) answer the next morning after bed. This morning while I was pondering how best to answer you I cannot find that post. Did you DELETE your post yet again ? As I remember it, you mentioned something like our charts & styles are similar ? I won't get involved in your "post then delete" games Dave, I have too much else going on hahaaa, but this is the best I can do...
Thank you
For your polite and non confrontational post
Just to clear up one point
Yes MML do act like Pivots and just as Pivots do they adjust to volatility over given periods or as I like to call it, reset
The slight difference being Murrey as a set sequence of numbers/days/cycle of which his method is based around
  • #9,362
  • Sep 19, 2023 3:06am Sep 19, 2023 3:06am
Quoting moodybot
{quote} Kev (Bluesteele) doesn't require funding.
RMG told that I shoot from the hip, no data to back it up.
I didn't told that Blue need to go funder route.

All I said you shoud not to cap your winning days. You are already in winning trade, maximize it.
Good thead in FF Building an equity millipede | Forex Factory same idea.
I might be wrong , I have been wrong before
  • #9,363
  • Sep 19, 2023 3:07am Sep 19, 2023 3:07am
Quoting venkatredy
Good Morning Flying Dutchman Members Can any one share link of trading view TMA. Not the MT4 TMA
Have you tried Google ?

Tradingview TMA Bands.

Plenty of Free ones.

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It never gets easier, you just get better
  • #9,364
  • Sep 19, 2023 3:17am Sep 19, 2023 3:17am
Quoting shabs19
{quote} have you tried google ? Tradingview tma bands. Plenty of free ones. {image}
dear shabs
tried trading view tma band but setting differ from mt4 tma
  • #9,365
  • Sep 19, 2023 3:29am Sep 19, 2023 3:29am
Quoting venkatredy
{quote} dear shabs tried trading view tma band but setting differ from mt4 tma
Ok, I don't use them, Sorry couldn't help you.

If you have the MT4 code, maybe some coders can modify an existing TV indicator ?
It never gets easier, you just get better
  • #9,366
  • Sep 19, 2023 4:42am Sep 19, 2023 4:42am
Quoting bluesteele
Thoughts: My trading session is New York 8:00 a.m. till 11:30 and I will take trades anytime in that window. The market owes me nothing.. anything at anytime can happen.. With that said,,, I will close it down after x amount of profit or x amount of loss.. I then turned the charts off as I don't want to see what the market does.. but sometimes I keep them open for a bit... tsk tsk Today was one of those days.. I hit my target so there is no need to trade further and give anything back. But no sooner had I close my last trade it was the new hour...
Rules and lines. I try to do my best but will never be perfect. Keep chugging on.
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every Saint has a past. Every Sinner has a Future
  • #9,367
  • Sep 19, 2023 4:50am Sep 19, 2023 4:50am
Quoting Rmg
{quote} It takes a lot of beating to understand whar Blue was saying. Following blanket statements from youtubers is just parr of the learning process. Whatever one's own rules maybe it is very important to quit while you are green.
I try again.

Blue "...And now of course I deal with the fomo the greed and all the shit that gets me..."
He has internal struggle that has nothing do to with market.

Trader trades between 8:00 a.m. till 11:30.

And gets A+setup at 9:00 and takes it.
at 10:00 gets new A+setup and takes it.
at 11:00 gets new A+setup and don't take it because he as already 2 winners and afraid to give back profits.

My take is if trader has A+setup between 8:00-11:30 he should take it despite how much he is down or up for a day.

Maybe I am wrong and as you said nothing to expect FF members like me.
I might be wrong , I have been wrong before
  • #9,368
  • Sep 19, 2023 5:11am Sep 19, 2023 5:11am
Quoting Mandariin
{quote} I try again. Blue "...And now of course I deal with the fomo the greed and all the shit that gets me..." He has internal struggle that has nothing do to with market. Trader trades between 8:00 a.m. till 11:30. And gets A+setup at 9:00 and takes it. at 10:00 gets new A+setup and takes it. at 11:00 gets new A+setup and don't take it because he as already 2 winners and afraid to give back profits. My take is if trader has A+setup between 8:00-11:30 he should take it despite how much he is down or up for a day. Maybe I am wrong and as you said...
Goal is to adhere to the limits first either up or dowm,
No matter how good a setup look like.
In theory yes, we should take every setup but random distribution between wins and losses can easily tripped us into tilt.
Thos who sets limits and follows make it and sustains.
If not then humble pie lasts forever.
on a postive roll...
  • #9,369
  • Sep 19, 2023 5:21am Sep 19, 2023 5:21am
Quoting Rmg
{quote} ...and losses can easily tripped us into tilt...
Correct,

To me 'not to tilt' should be traders main focus to work on. Not to limit trades because I may tilt again.
I have many problems to work on. Right know working on - target is set and I don't move it closer.
I might be wrong , I have been wrong before
  • #9,370
  • Sep 19, 2023 5:31am Sep 19, 2023 5:31am
Quoting Mandariin
{quote} Correct, To me 'not to tilt' should be traders main focus to work on. Not to limit trades because I may tilt again. I have many problems to work on. Right know working on - target is set and I don't move it closer.
Not to tilt = discipline enough to follow tje rules.

Tilt is something that cannot be realized at the very moment until the dust is settled
on a postive roll...
  • #9,371
  • Sep 19, 2023 7:49am Sep 19, 2023 7:49am
Quoting Mandariin
{quote} I try again. Blue "...And now of course I deal with the fomo the greed and all the shit that gets me..." He has internal struggle that has nothing do to with market. Trader trades between 8:00 a.m. till 11:30. And gets A+setup at 9:00 and takes it. at 10:00 gets new A+setup and takes it. at 11:00 gets new A+setup and don't take it because he as already 2 winners and afraid to give back profits. My take is if trader has A+setup between 8:00-11:30 he should take it despite how much he is down or up for a day. Maybe I am wrong and as you said...
Hi Mandarrin,,,

Yep i get what your saying and am a big proponent of what you say(with caveat)
One has to take their trades as they come..True...as you don't know in what order the market will deal you wins/losses.. If one gets choosy perhaps
it is then hindering your edge..

BUT its a double edged sword think of it like this.

For ex:
I have a RULE if i hit one loss or a cumulation of losses during a session of lets just say 1% that I stop trading with the notion that first and foremost
we are risk mgrs...and the only thing we can unequivocally control is how much we lose.

So when I reach that 1% do I keep on trading? and break that rule? in HOPES the next setup works..even if a A+ setup can easily fail as I don't know
the distribution of my wins.

You either have rules that you follow or you don't.

Now we flip this over to the profit side...Yes I believe in pressing winners.. But I also deal with things like Greed and FOMO etc,,,and from my history I know All i need is one good trade every few days and that takes care of my losing days...The more time in the market is nothing but exposure to more risk,

So I have a rule just like a losing rule,,,when I hit a target I stop,,,IF I apply it losing I need to apply it to winning..as Risk control does not change and when
I don't know outcome..I take what the market gives me and build on it..

All about rules my friend and knowing one self's habits.. If you only knew how many countless pips I have given back from NOT taking my profits and Trading after being ahead... By pressing the market to far.... I am very happy for ex..to gain 0.5% in one day and shut it down nowadays.

SO why do I choose not to keep trading...Simply because I follow my rules..and If I stop trading when hit daily loss limit then I stop trading when hit daily profit level.

I love the psychology aspect of trading..such a huge part..it fascinates me...and this all plays into our own personal psychology and nothing is cookie cutter in this
business, nothing at all..Its all personal and the trick to success is finding what works for you.

Cheers
Blue

OK Dow is at LOD now time to get back to trading....Looking for a buy low setup with the market as it is at this moment.
Markets are Mirrors,,Mastery of craft is mastery of self
  • #9,372
  • Sep 20, 2023 7:56am Sep 20, 2023 7:56am
Quoting bluesteele
{quote} Hi Mandarrin,,, Yep i get what your saying and am a big proponent of what you say(with caveat) One has to take their trades as they come..True...as you don't know in what order the market will deal you wins/losses.. If one gets choosy perhaps it is then hindering your edge.. BUT its a double edged sword think of it like this. For ex: I have a RULE if i hit one loss or a cumulation of losses during a session of lets just say 1% that I stop trading with the notion that first and foremost we are risk mgrs...and the only thing we can unequivocally...
Had to smile at this video for "Kids."
I don't know the narrators reputation or standing as a trader but some actions were seemingly, plain simple. "KISS" example maybe`?

Ignore the fact he seems to be seeking paid subscriptions.

Inserted Video
every Saint has a past. Every Sinner has a Future
  • #9,373
  • Sep 20, 2023 5:29pm Sep 20, 2023 5:29pm
There is a thread on forex randomness out there I am sure.

Why not.

But what does “randomness” SUGGEST …. let alone what does ‘randomness” mean lol,

(and as I often read folks incorrectly interpreting and then quoting Talebs’ Fooled By Randomness book title as some reference, I usually smile)


Andy-Moody (cheers mate) encouraged me ages ago to observe the relationships between linked trading pairs.

So I might use yesterday’s FOMC day (why not) to show the three chart pairs I watch when predominantly trading GJ

These three charts are NOT to show traders HOW to trade our markets
(there are 10,000 Forex Factory threads to do that for us hahaa)

Just 3 x linked charts --- GBPJPY and its (parents ? lol) USDJPY and GBPUSD
Spot the differences, spot the similarities

These are no more than pure observations (to me).
That dispel my thoughts of OVERALL market randomness (to me)

I will not expect anyone to dive into these charts - the CHARTS are just TOO BUSY (as well as traders & I understand that)

But if you even choose to look, for the briefest of time, I could recommend doing that candle by candle, in your head or on a simulator, and ponder where price might be tentatively heading in a current session or later sessions, keeping in mind that price can well move UP or DOWN or maybe more importantly … up AND down.

All the best for this post-fomc Thursday.

I leave you all with this traders conundrum - how random is random and wtf does random even mean hahaaa

Trade well, trade safe today.

.
Attached Image(s) (click to enlarge)
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  • #9,374
  • Sep 20, 2023 7:49pm Sep 20, 2023 7:49pm
Morning asia is over for me now, back in about 4 hours.

GBP
Keep an eye out for potential monkey-business with Red GBP Rates News out one hour before New York Open, with a soft pound event news right on Franky Open.
Trade safe, trade well
  • #9,375
  • Sep 20, 2023 11:40pm Sep 20, 2023 11:40pm
Hitting the sack...but thought id toss these up.
THe change in performance from day to day... Struggle is real.
Battling to improve ones self every single day...at least the way I see it...

I learn something every single day trading...
First : about me
Second : about the market

Ive mentioned many times to pay attention to the Open..I normally mean the NY equity open... But it also
applies to the Daily and to Asia and UK...

And I have mentioned these can be used for targets and for short term BIAS...Which way is the money flowing in its simplest terms

Ive also been mentioning the NY CLOSE....same thing targets / bias but all with the context and confluence of the behaviour of price around these
areas and also on a bigger picture.

Tues (yesterday for me right now),,,, waited and waited for a reversal to come on the Dow US 30...Thought it would pop earlier but it didnt..
As I said beforehand in my last post looking for a BUY LOW opportunity... if sets up..

Finally it came and nailed it good ...the point tho is my runners target,,,was the NYequity open..shy a few pts as seen price just kiss it
too many times,,,, so Pay attention to the Opens the lesson I wanted to share here,,

Other two charts are from today Wednesday...FOMC Oil...
First chart shows some of my short reasoning... The WHY of Why i was looking to short,..
Mondays NY CLose and Tuesdays NY Close...

More to it of course.with volume/traders trapped both short and long from the previous days PA etc. wont get into it now too late tonight.

So pay attention to the Close is the lesson I wanted to share...This one was for helping to derive a short term SHort Bias with the behaviour
of price at these levels...

As I mentioned above the struggle is real...Some days are great some days like today a scratch..some days are losses..
But today I let the money slip out of my hands...Up 60 pts on Oil and had moved stop to BE+2 and of course stopped out AND
then price hit target... Just another day... Gotta be smarter gotta be better...gotta be sharper...One day ata time

ENough ramblings 430 am comes quick

Hope these charts especially with the CLoses helps someone ...and this happens all the time.. Price above and or below
the Opens and the Closes and reacting to these levels....SOmeting I learned long long ago trading stocks from end of day quotes,
Just the numbers... OHLC no intrday charts just a Daily Bar chart (volume and market cap) and that was all i used

OHLC cant stress how important that is .. you would be surprised how many traders trade just those levels
OK rambling done..930 pm witching hour begins lol...

CHeers
Blue

Pay attention to the Open !
Attached Image (click to enlarge)
Click to Enlarge Name: USA30iM5 Tues Sept 19 2023 long entry.png Size: 78 KB


Pay attention to the Close !
Attached Image (click to enlarge)
Click to Enlarge Name: USOILiM15 WEDS SEPT 20 2023 FOMC SHORT TRAPPED TRADERS.png Size: 62 KB


Nice ecample of mismanaging a trade
Attached Image (click to enlarge)
Click to Enlarge Name: USOILiM5 weds sept 20 2023 Short off Closes but mismanaged TP.png Size: 43 KB
Markets are Mirrors,,Mastery of craft is mastery of self
  • #9,376
  • Edited 3:23am Sep 21, 2023 3:13am | Edited 3:23am
Quoting TimeTells
Just 3 x linked charts --- GBPJPY and its (parents ? lol) USDJPY and GBPUSD Spot the differences, spot the similarities ts - the CHARTS are just TOO BUSY
GBPUSD X USDJPY = GBPJPY 3 way calculation has to be correct at all times, if out it would present an arbitrage opportunity.

Maybe one pair is driving the price or maybe 2, the third will have to balance the equation.

1.23446 x 148.283 = 183.04 (actual from your chart 183.036 )

Probably the currencies interbank are quoted with a further digit point or there is some rounding.

Same way EURJPY = EURUSD X USDJPY

The Charts are based on Structure Breaks, Retests and taking it to the next target or structure Break.

If price looks like it is going the wrong way, it is going to test the previous break in Market Structure. It looks Random, but there is a reason it is called a correction.
It never gets easier, you just get better
  • #9,377
  • Edited 3:49am Sep 21, 2023 3:30am | Edited 3:49am
Quoting bluesteele
the NY CLOSE....
As you have said before, the NY Close price is the close on a Friday each week, on each day, on each month etc.

It has to have significance, as the real volume enters the market when Shanghai / HK come in, almost 3 hours later ( Sorry, Oceania traders ).

These guys will take it back to NY Close, because they have the volume to do it. as will London or NY for the same reason.
It never gets easier, you just get better
  • #9,378
  • Sep 21, 2023 4:06am Sep 21, 2023 4:06am
Quoting Shabs19
{quote}
As you have said before, the NY Close price is the close on a Friday each week, on each day, on each month etc.
It has to have significance, as the real volume enters the market when Shanghai / HK come in, almost 3 hours later ( Sorry, Oceania traders ).
These guys will take it back to NY Close, because they have the volume to do it. as will London or NY for the same reason.
Spot on Shabs,

And except for the occasional candle blitz one hour after the day open I won't trade until after the 2hr50min mark when the first Yen News comes out of Japan.
Then, what the market does after that chasing prior structure, targets & levels and what is does on reaching them can tease out a potential trade entry.

Today I was in and out in that very first 3rd hour while I snuck back in again after London Open. And then the day was all done and over for me.

It is possible to sit around and trade it all, just over & over again, but I set myself a requirement and with no fomo or greed winning inside my cranium (hopefully lol) I can happily close up shop and just enjoy the evening doing some other things.

I would still have my screen open in the background for fun by occasionally watching all the later market shenanigans with price movement hahaa.

Now.
Big Red GBP rate news release coming up in two hours but I won't jump in again today now myself.

All the best to all. Back on Friday lol.
  • #9,379
  • Sep 21, 2023 6:19am Sep 21, 2023 6:19am
[quote=TimeTells;14585445]{quote} Big Red GBP rate news release coming up in two hours but I won't jump in again today now myself. /quote]

London showed it's hand as it rejected NY Close Range & PDL, yesterdays inflation figures showed a slight drop,

so it would have been madness for the BOE to increase rates so IMO, politically motivated, as conference season kicking off now

and conservatives (goverment) want to take some credit & applause at the coming events.

It was all expected News, so GBP tanked before the News broke.
It never gets easier, you just get better
  • #9,380
  • Sep 21, 2023 12:09pm Sep 21, 2023 12:09pm
Nothing new in trading,,,,,
Well worth the watch....

KISS
Blue

Inserted Video
Markets are Mirrors,,Mastery of craft is mastery of self
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