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Flying Dutchman

  • #9,521
  • Edited 11:23pm Oct 15, 2023 11:11pm | Edited 11:23pm
Quoting Shabs19
{quote} The average weekly range for Oil (13 weeks) is 505.1 and we are now recording 498.7 for this week ( 98.7% of AWR). Any coincidences ? Kevin - any chance you could use a symbol indicator to make the currency / indice & TF more visible ? I could then open the same chart myself, my eyes are not as good as they used to be. {file}
Just for you my friend ! Now we can both see !!! And Magoo(Turnip) too ! lol

The other labels info are for whomever
Actually the one indi that does my Open lines and H/L/C is from you too

So this is what I keep track of everyday...Opens Highs Lows Closes
Where is price in relation to these levels ?
Where is price in relation to these levels on a per session to a per day/week framework.

Getting late 9pm....

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Edit:
Heres my TradingView Chart just showing more of a weekly view,,,,Just so much easier and better for annotating charts than mt4
But same basic setup with the equity opens highs lows close Opening ranges Asia NY etc....

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Master your Mind,,,Master the Market
  • #9,522
  • Oct 15, 2023 11:22pm Oct 15, 2023 11:22pm
Quoting moodybot
{quote} The herd. Think of a football match, big stadium. The stadium is your chart. You can’t see the pitch, only smart money can. You have to choose which team to support but you don’t know which entrance to take. You hear a big roar from one end of the stadium, you now know where to enter the stadium, you choose the entrance, you walk into the stadium and join all of the fans standing at one end of the stadium. You look at the scoreboard knowing you have just scored. The score is 1-0 to the smart money standing at the other end. You chose wrong....
Hi andy thank u for reply
but as per entry should i enter after herd stoploss taken out or should i enter to take herd stoploss
  • #9,523
  • Edited 11:47pm Oct 15, 2023 11:35pm | Edited 11:47pm
Quoting deafpostman
{quote} The spread, no commission for GBPJPY on my broker (regulated in Canada) is 2.3 to 3.0…. I couldn’t profit from scalps such as this. What is the spread/commission on your end? I am unable to open account in other regulatory countries due to draconian rules…. In once sense it protects clients from brokers, but gives them a sort of monopoly. Kind of sucks because I like the way the guppy moves.

Hi DP,
Yes you are trapped, sir, I do understand. It is what it is.

Initially for a few years, my local Aus broker GBPJPY spread was high at 1.6-1.8

I was able to trade to profit even under those circumstances as when I quote pips I don't (actually) quote pips, I quote it in P's which is the actual net amount of dollar profit (or loss) from a trade, divided by my lot size.

So my 11p this morning was net+11 which likely was 12 plus actual pips from the trade entry to the trade close.

I liked the guppies also while we all trade to a method that suits us best so that is not the real issue you have imho.

The issue as I see it (might ?) be that the guppy or whatever we use has its limitations. I use horizontal levels myself as trade targets with MA's used as 'current' directional overviews knowing fully well that the market's BEST TRICK is to "flip over on an MA" leaving us traders stranded and wondering what just happened.

However trading 'between' two targets we 'go in' knowing either target is a viable target for the market whether it is up or down OR their fave imo up AND down.

If I use a reasonable two-target separation distance, let's say 25 actual pips for this example I am happy to forgo the first 5 pips at the start of a move and the final 5 pips before a terget is reached, then that leaves me 15 actual pips sitting inside that two-target zone (25-,5+5 =15).

The guppies imo are very useful for seeing the movement and 'MA spreading' of whatever time based inputs you use BUT unless there are OTHER traders out there using exactly the same guppy inputs then WHO do we imagine is taking the same/opposite trades as us AT those guppy lines which like all MAs, incl the ones I use, are 'historical by nature' showing what has happened to price BEHIND where price is NOW. Thus I pefer horizontal targets where I believe (hope lol) that OTHER traders and BOTH buyers AND sellers might take a trade interest around those zone levels. Then I wait for actual movement of price confirming that direction is establishing (often after re-tests, as Shabs has shown with his Market Structure charts) and make my trade in there towards my next target for whatever TP is viable at the time (the Asia TP viability changes again around London to "new" behaviour and then also NYork later but I am in bed then).

I guess if your s pread is in the 2 to 3 pip range your trade TP methodology if you wish to employ scalping would need to be 17-18 pips where I can use 15 as a Daily requirement.

You also asked about my own s preads and while I will not mention brokers by name as I have no affiliations of ANY sort in forex they are just my broker availability, and quite recently my s preads have been specifically reduced (by an email received from my broker) and the GBPJPY are now in the 0.6 to 0.9 range consistently leaving me to assume I have been bumped up from B-Book to A-Book though I still believe many trades are held in-house or by my brokers preferred Liquidity Provider (another story again).

All the best DP, I would have another suggestion that by using a Trade Simulator which incoporates a set spread (that you can input) then you can test various methodologies and various templates with levels & MAs & guppies etc etc to see where you can find your best opportunites during your own trade-time sessions.

Trade well sir, trade safe

(edit: ps this is just what I do which is comfortable for me. I do not suggest this is THE way to trade as there is no such thing as ONE way of trading any market. Our own trade success or viability is imho based soley on US ouselves and how we address personally the vagaries of market trading & its behaviours)
  • #9,524
  • Oct 16, 2023 12:49am Oct 16, 2023 12:49am
As well as all the rest lol, I do like an Inflection Point.

Trade safe folks.

.
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  • #9,525
  • Oct 16, 2023 1:13am Oct 16, 2023 1:13am
Quoting venkatredy
{quote} Hi andy thank u for reply but as per entry should i enter after herd stoploss taken out or should i enter to take herd stoploss
What looks more attractive, a non-event meandering towards a target, or a full blown in your face big beacon at the target.
The problem with the beacon is deciding whether its the end of a move.
  • #9,526
  • Oct 16, 2023 2:59am Oct 16, 2023 2:59am
Yet another market mystery and coincidence.

Many FF threads have mentioned & discussed the 50% pullback.

.
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  • #9,527
  • Oct 16, 2023 3:36am Oct 16, 2023 3:36am
Quoting TimeTells
Yet another market mystery and coincidence. Many FF threads have mentioned & discussed the 50% pullback. . {image}
Was it 50% on the way up, or if you look left 50% level Friday 15.15 GMT (15227) marked on the way down. ( Pre-planned ?).

Another One of Life's great mysteries,
It never gets easier, you just get better
  • #9,528
  • Oct 16, 2023 3:38am Oct 16, 2023 3:38am
Quoting moodybot
{quote} The herd. Think of a football match, big stadium. The stadium is your chart. You can’t see the pitch, only smart money can. You have to choose which team to support but you don’t know which entrance to take. You hear a big roar from one end of the stadium, you now know where to enter the stadium, you choose the entrance, you walk into the stadium and join all of the fans standing at one end of the stadium. You look at the scoreboard knowing you have just scored. The score is 1-0 to the smart money standing at the other end. You chose wrong....
Times, levels and choices and add your own sauce.
Keep working on the ME
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every Saint has a past. Every Sinner has a Future
  • #9,529
  • Oct 16, 2023 3:49am Oct 16, 2023 3:49am
Quoting bluesteele
{quote} TPs,,, another important point in the trade process...It is a process with an UNDETERMINED OUTCOME on ANY individual trade... IF anyone tells you different they are full of shit. Just ask them why they did not put 100% of every dollar they can get ahold of..Borrow from the bank family friends sell your house and go all in,,,, Ya i didn't think so.... As Pete said he's not waiting and took the 11pips...We all have seen many Pete posts and what his normal target for a days work >>15 pips or so...so he banked 75% of his daily goal,,,,...
Theres a daytrader Corey Mitchell,,,awesome guy..day trades EU only (also stocks and swings) but daytrades the EU on the 1min.... Old school "REAL PROP"
trader been doing this FT for 20+ yrs... His TARGETS on the EU.. 4-8 pips a day.... AHHH Corey My Man you should have held for 15 or 20 you Punte

I am not bright compared to many here who talk of programming etc - never took "A" Levels etc at school. But it seems logical to my uneducated mind that a few pips every day is more likely than hitting 20 or thirty or more pips or points a day. Dip in and dip out. Small accounts, I feel, cause many "traders" to crash their tiny accounts by gambling on the big move. I also know where I am wrong before I get into a trade. But the big demon lurking in the dark is "how big is your loss" - in other words : lots of small profits of 10 points or less can get wiped by an unguarded loss. Ruthless with stops needs a ruthless mind when trading. And patience.
every Saint has a past. Every Sinner has a Future
  • #9,530
  • Oct 16, 2023 3:59am Oct 16, 2023 3:59am
Quoting Shabs19
{quote} Was it 50% on the way up, or if you look left 50% level Friday 15.15 GMT (15227) marked on the way down. ( Pre-planned ?). Another One of Life's great mysteries,

Hahaa, I like to think of it as just well organised chaos

.
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  • #9,531
  • Oct 16, 2023 4:01am Oct 16, 2023 4:01am
Quoting bluesteele
{quote} Just for you my friend ! Now we can both see !!! And Magoo(Turnip) too !
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It never gets easier, you just get better
  • #9,532
  • Oct 16, 2023 4:05am Oct 16, 2023 4:05am
Quoting bluesteele
{quote} Just for you my friend ! Now we can both see !!! And Magoo(Turnip) too ! lol The other labels info are for whomever Actually the one indi that does my Open lines and H/L/C is from you too So this is what I keep track of everyday...Opens Highs Lows Closes Where is price in relation to these levels ? Where is price in relation to these levels on a per session to a per day/week framework. Getting late 9pm.... {image} Edit: Heres my TradingView Chart just showing more of a weekly view,,,,Just so much easier and better for...
Yeah - Cool man
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every Saint has a past. Every Sinner has a Future
  • #9,533
  • Edited 4:35am Oct 16, 2023 4:24am | Edited 4:35am
Quoting turnip15
{quote} But the big demon lurking in the dark is "how big is your loss" - in other words : lots of small profits of 10 points or less can get wiped by an unguarded loss. Ruthless with stops needs a ruthless mind when trading. And patience.
I agree absolutely.
Your Roadmap should keep you in profitable trades longer & tighten stoplosses when things get "hairy".
It never gets easier, you just get better
  • #9,534
  • Edited 7:28am Oct 16, 2023 6:17am | Edited 7:28am
Quoting bluesteele
{quote} So this is what I keep track of everyday...Opens Highs Lows Closes Where is price in relation to these levels ? Where is price in relation to these levels on a per session to a per day/week framework. Getting late 9pm.... {image} Edit: Heres my TradingView Chart just showing more of a weekly view,,,,Just so much easier and better for annotating charts than mt4 But same basic setup with the equity opens highs lows close Opening ranges Asia NY etc.... {image}
Here's my Previous Daily, Weekly, Monthly Highs & Lows Price & Annotation Indicator for MT4. (saves doing it manually).
One indicator does them all. It also shows you the current week High /Low.
You can adjust colours etc. to your liking.

Attached File(s)
File Type: ex4 MTF_HI_LOW_v1.1j.ex4   50 KB | 274 downloads

ScaleFix Button, probably the one of my favourite indicators, helps to scroll chart left without chart re-scaling & moving around.
Annoyinmg MT4 feature.
You may find indicator useful, When ScaleFix is on, the Price Scale will show a vertical Bar.

Attached File(s)
File Type: ex4 ScaleFixButton.ex4   10 KB | 245 downloads
It never gets easier, you just get better
  • #9,535
  • Oct 16, 2023 8:33am Oct 16, 2023 8:33am
Quoting bluesteele
{quote} Just for you my friend ! Now we can both see !!! And Magoo(Turnip) too ! lol The other labels info are for whomever Actually the one indi that does my Open lines and H/L/C is from you too So this is what I keep track of everyday...Opens Highs Lows Closes Where is price in relation to these levels ? Where is price in relation to these levels on a per session to a per day/week framework. Getting late 9pm.... {image} Edit: Heres my TradingView Chart just showing more of a weekly view,,,,Just so much easier and better for...
I say chaps. I have been trudging through some Al Brookes stuff I found and came across his charts showing trades where he uses 18 bars as a framework for setting high or low or both of SP500 session ( Kevin has alluded to it often I seem to recall?)
Trouble with Al ( for me at any rate) is that his voice has a soporific effect on me before I reach the end of his video's.
I post a chart where I think there is one example where his idea could be used.Kevin has past charts showing many other 18 bar trade examples.
Have any of you kept awake through his videos, to back or forward test, his 18 bar theory that the High or Low or Both is usually set within those times? Was it useful?
( Useful to grab a few points and leave)
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every Saint has a past. Every Sinner has a Future
  • #9,536
  • Oct 16, 2023 9:37am Oct 16, 2023 9:37am
I didn't wait for 12 0r 18 5 minute bars but traded as per usual levels. Couple of small scalps then price took off after leaving small consolidation sitting on OPEN line
just above ( Kevins Squirrel)

Still watching for 18 bar effect ( Al Brookes 5 minute bars)
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every Saint has a past. Every Sinner has a Future
  • #9,537
  • Oct 16, 2023 10:04am Oct 16, 2023 10:04am
Potato Art
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every Saint has a past. Every Sinner has a Future
  • #9,538
  • Oct 16, 2023 10:17am Oct 16, 2023 10:17am
Quoting turnip15
{quote} I say chaps. I have been trudging through some Al Brookes stuff I found and came across his charts showing trades where he uses 18 bars as a framework for setting high or low or both of SP500 session ( Kevin has alluded to it often I seem to recall?) Trouble with Al ( for me at any rate) is that his voice has a soporific effect on me before I reach the end of his video's. I post a chart where I think there is one example where his idea could be used.Kevin has past charts showing many other 18 bar trade examples. Have any of you kept awake...
Candle 18
What now - just watching - now I am done for the day.
Well - I go now to watch "Bargain Brits in Spain" then 4pm a programme following Brits running small businesses in Europe. (France my favourite -just for the scenery)
Back later to note what happened to candle 18 price area.
Attached Image (click to enlarge)
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every Saint has a past. Every Sinner has a Future
  • #9,539
  • Oct 16, 2023 10:51am Oct 16, 2023 10:51am
Quoting turnip15
{quote} Trouble with Al ( for me at any rate) is that his voice has a soporific effect on me before I reach the end of his video's.
I have the same problem, if it doesn't catch my interest in 5 to max 10 minutes, I'm outta there.

Thanks for the new word "sophoric", learn something new everyday.

IMO you could take the Break of Structure & Retest Sell trade, way before the 90 minutes are up, banked your pips & gone for Tea & Cake.
It never gets easier, you just get better
  • #9,540
  • Oct 16, 2023 12:36pm Oct 16, 2023 12:36pm
Quoting Shabs19
{quote} I have the same problem, if it doesn't catch my interest in 5 to max 10 minutes, I'm outta there. Thanks for the new word "sophoric", learn something new everyday. IMO you could take the Break of Structure & Retest Sell trade, way before the 90 minutes are up, banked your pips & gone for Tea & Cake.


I do but I always look around at what others are doing to see if Roadmap can be modified. Today was a good day on the SP500.
I came across this guy a while ago. Bit like TT - he takes the few pips on offer and goes.
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every Saint has a past. Every Sinner has a Future
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