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Flying Dutchman

  • #9,841
  • Nov 12, 2023 3:05am Nov 12, 2023 3:05am
Quoting Shabs19
{quote} {image}
  • #9,842
  • Nov 12, 2023 4:19pm Nov 12, 2023 4:19pm
Quoting TimeTells
{quote} Hi dave, I don’t actually trade to REACH the very targets pip-perfect. I just trade to TP (take profit). In doing that I trade in-between two targets. (There is always one immediately above and one below price at any point in time). For example, say a 25 pip range is between two Targets at this juncture in the market moves. Price leaves one target & heads for the other. (Well that is the concept lol hahaa ) I can happily then miss the first 5 pips waiting on a structure re-test or move as a confluence event for example....
I don’t actually trade to REACH the very targets pip-perfect

Close enough is good enough.
  • #9,843
  • Nov 12, 2023 4:45pm Nov 12, 2023 4:45pm
Quoting handy148
{quote}
I don’t actually trade to REACH the very targets pip-perfect
Close enough is good enough.

Hi handy,

Cheers. Close enough is good enough for sure imo when we have Profit Locked In.

If the market is running towards (or from) (or even around any targets for a while)
then unless our trading is automated (with an Ea or TP line)
then to wait around just to get an extra 3-5 pips seems only a need to vindicate our target trade
and is not then based essentially on taking profit (whatever that is & suits your appetite for THAT session).

If the market has already provided a suitable profit ALREADY (and each to their own on this)
then I just call it “locking in tp” and off we can go then on something else (trading or otherwise).

Do we as traders always NEED to be pip-perfect,
to either prove something to ourselves emotionally (fomo)
or financially (greed ?)

We already have profit LOCKED-IN
Congratulations maybe
Just push the close at tp button imo and start again

Or have a rest and wait for the market to EXPAND once more, either
to or FROM one of our targets or structure lines and provide us with a NEW setup.

Each to their own here of course. There is no ONE way to trade these markets.
Or that one way is BEST. I do not suggest that at all.

Trade safe, trade well,
(and maybe we can have our focus just on “trade to tp” who knows)

All the best
  • #9,844
  • Nov 12, 2023 6:22pm Nov 12, 2023 6:22pm
G'Day All,

Exchanged some PMs with TimeTells to learn more and get advice from him. As always got great info from him. I have charts from Monday to Friday last week. Our favourite pair GBY/JPY. Just to be clear i traded just one of those. TimeTells alluded me to George's style of trading and how he was so good at what he did. At times it is so clear. Just a few confluences on a 15 minute chart. Like Bluesteele says hindsight becomes foresight. It maybe be difficult during live sessions but with the help of TIME & RNs it becomes a lot easier. Again nothing is guaranteed but probabilities are in ur favour. We learn each day. I mostly trade 1 minute charts for small profits with my small account. But this was an eye opener thanks to Timetells. Its not Random at all. Highly organised if we look closely.

Trade Well All.
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  • #9,845
  • Nov 12, 2023 6:43pm Nov 12, 2023 6:43pm
Quoting whitesta
G'Day All, Exchanged some PMs with TimeTells to learn more and get advice from him. As always got great info from him. I have charts from Monday to Friday last week. Our favourite pair GBY/JPY. Just to be clear i traded just one of those. TimeTells alluded me to George's style of trading and how he was so good at what he did. At times it is so clear. Just a few confluences on a 15 minute chart. Like Bluesteele says hindsight becomes foresight. It maybe be difficult during live sessions but with the help of TIME & RNs it becomes a lot easier. Again...

Great charts W, which can show the mechanism of movement for any new traders to observe.
(any random 'appearance' imo is when the market has to aggregate what is in the pool and rebalance - take profit maybe/pullback -till the next move forward - or back)
  • #9,846
  • Nov 12, 2023 6:48pm Nov 12, 2023 6:48pm
Quoting TimeTells
{quote} Great charts W, which can show the mechanism of movement for any new traders to observe. (any random 'appearance' imo is when the market has to aggregate what is in the pool and rebalance - take profit maybe/pullback -till the next move forward - or back)
Exactly...and if there is randomness then just wait and watch. It will show its hand soon enough. As traders if we still can't see it then don't trade. Never a good idea to force a trade. Maybe wait for another day or 2 cos it will be clear for sure. Patience is the key.
  • #9,847
  • Nov 12, 2023 6:56pm Nov 12, 2023 6:56pm
Quoting whitesta
{quote}
Exactly...and if there is randomness then just wait and watch. It will show its hand soon enough.
As traders if we still can't see it then don't trade. Never a good idea to force a trade.
Maybe wait for another day or 2 cos it will be clear for sure.
Patience is the key.

Boom, spot on W and no fear of missing out (fomo) as the market WILL present another setup later that session, in the next session or two, or the next day.
Patience and then act accordingly when the setup shows.
It has to show its hand as you say at some point - ie where would they hide it

Jumping in the shower now lol, back to see what pre-Franky serves up & where they have taken price in-between.
Trade well
  • #9,848
  • Nov 12, 2023 6:58pm Nov 12, 2023 6:58pm
Quoting whitesta
G'Day All, Exchanged some PMs with TimeTells to learn more and get advice from him. As always got great info from him. I have charts from Monday to Friday last week. Our favourite pair GBY/JPY. Just to be clear i traded just one of those. TimeTells alluded me to George's style of trading and how he was so good at what he did. At times it is so clear. Just a few confluences on a 15 minute chart. Like Bluesteele says hindsight becomes foresight. It maybe be difficult during live sessions but with the help of TIME & RNs it becomes a lot easier. Again...
Hey W ! Random charts ...Love em lol...
SPeaking of timing... Notice how highs and Lows are "often" formed in 30-45mins...or 2 or 3-15m candles(give or take). knowing that and when appear at
certain timings and levels..its how we can form a probability that a High or Low is locked in.. Just my 2 cents

Cheers
Master your Mind,,,Master the Market
  • #9,849
  • Nov 12, 2023 7:14pm Nov 12, 2023 7:14pm
Quoting bluesteele
{quote} Hey W ! Random charts ...Love em lol... SPeaking of timing... Notice how highs and Lows are "often" formed in 30-45mins...or 2 or 3-15m candles(give or take). knowing that and when appear at certain timings and levels..its how we can form a probability that a High or Low is locked in.. Just my 2 cents Cheers
Random Charts...lol.. yes i have been going through your posts and PMs and u have always mentioned the 3 or even 4 15 mins candles after session opens. Thats where the magic happens. A RN is always around too. The other confluences are just like extra spice. With a probability locked in for the session, its all about risk reward. There are so many ways to trade but the simple we keep is the best. Indis or no indis, its up to the trader. We all trade differently and the aim is to make some profit either way. One small note for new traders, make sure u have a Stop Loss. No matter how good the probability is, its never 100%. Markets all about emotions and people, traders, big or small react differently. Then there is geo politics, the conflict around the world. All linked. For retail traders like us we have to make sure we save our assets. Why cos we do not have massive accounts like banks so we can't take big hits. Yes the market will come back to the probability we were talking about but our accounts are not that big to stay in the trade with price travelling in opposite direction.
  • #9,850
  • Nov 12, 2023 7:37pm Nov 12, 2023 7:37pm
Quoting whitesta
{quote}
Yes the market will come back to the probability we were talking about but our accounts are not that big to stay in the trade with price travelling in opposite direction.

Hahaa, yep there's an old trading axiom.

The Market Can Remain Irrational Longer Than You Can Remain Solvent

an article from 2011
https://quoteinvestigator.com/2011/0...emain-solvent/

Of course our own personal interpretation of what the word-narrative irrational means could be completely different to the larger massive market makers.

How we each deal with DrawDown is again a personal preference, from close-out-quick to a same-pair opposite directional hedge (not available in the USA I believe)
to the dangerous gamble of averaging-down (especially when the market has plenty of ADR up its sleeve to drive traders deeper into DD & margin-territory).

Which is why many folks, myself included, will say trade safe as well as trade well. All the best pal.
  • #9,851
  • Nov 12, 2023 8:02pm Nov 12, 2023 8:02pm
When a strategy forces one to over-leverage(my take on what is shared above), it's perhaps time to get back to the drawing board...
If I don't mention SL and/or TP = longer-term setup possibly in the works!
  • #9,852
  • Nov 12, 2023 8:35pm Nov 12, 2023 8:35pm
Quoting mtako
When a strategy forces one to over-leverage(my take on what is shared above), it's perhaps time to get back to the drawing board...
I agree 100% mtako, the question a trader must ask themselves is why are they (if continually) trading against the order-flow (market direction).
Nothing good can come of that over & over (edit: In general I mean, not one-off occurances).
  • #9,853
  • Nov 12, 2023 9:11pm Nov 12, 2023 9:11pm
Quoting TimeTells
{quote} I agree 100% mtako, the question a trader must ask themselves is why are they (if continually) trading against the order-flow (market direction). Nothing good can come of that over & over (edit: In general I mean, not one-off occurances).
I add an exception: during indecision/ranging/sideways, best for me is to get in against the flow, because by the time there is direction, it's often time for RE-direction(and reanimation if I failed to identify the change in dynamics too many times). And there is always a scale at which it's going sideways and trend good enough to go with and against, just as long as I do not use same risk management on both
If I don't mention SL and/or TP = longer-term setup possibly in the works!
  • #9,854
  • Nov 12, 2023 10:42pm Nov 12, 2023 10:42pm
Quoting mtako
{quote}I add an exception: during indecision/ranging/sideways, best for me is to get in against the flow, because by the time there is direction, it's often time for RE-direction(and reanimation if I failed to identify the change in dynamics too many times).

And there is always a scale at which it's going sideways and trend good enough to go with and against,
just as long as I do not use same risk management on both



I have traded reversals & continuations during the same day (two directions, NOT in the same session).
Sometimes buying in asia and then later selling London (but in New York I am fast asleep these days lol)
All are usually based on session timing and target levels that I have on my charts.

While also looking at current ADR, plus session ADR.
(cheers George)

The inflection graphic way down below is essentially all the market can do after the sideways play
(with exceptions of course including the famous Franky/London Fake’N’Flip scenario if they play that card on the day hahaa)

The horizontal line on the graphic represents structure,
and the edge of the second concentric circle is far enough away AND close enough in before a redirection, to be a “confirmation of sorts”.

Married with risk management as you suggest.

How many pips move are the concentric circles, well that is for each trader to define each time & each session (ie volatility aspect)


While I don’t trade the USDJPY it IS integral to my view on GJ (via GU lol).

Six days now Mr U.
Where are we headed, well only the larger market knows (the larger players I mean)

.
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  • #9,855
  • Nov 12, 2023 11:07pm Nov 12, 2023 11:07pm
Quoting TimeTells
{quote} I have traded reversals & continuations during the same day (two directions, NOT in the same session). Sometimes buying in asia and then later selling London (but in New York I am fast asleep these days lol) All are usually based on session timing and target levels that I have on my charts. While also looking at current ADR, plus session ADR. (cheers George) The inflection graphic way down below is essentially all the market can do after the sideways play (with exceptions of course including the famous Franky/London Fake’N’Flip scenario...
You my friend have put my brain to work, thank you !
Quoting TimeTells
... While I don’t trade the USDJPY it IS integral to my view on GJ (via GU lol). Six days now Mr U. Where are we headed, well only the larger market knows (the larger players I mean) . {image} {image}
we are at the feet of the great 1987 deluge, which leaves too much to ponder about what could happen if this up-volatility keeps up. Simply put, uncalculatable reach. Best trail majority of longs, just in case

We are back in the past : 1987 !
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If I don't mention SL and/or TP = longer-term setup possibly in the works!
  • #9,856
  • Nov 12, 2023 11:38pm Nov 12, 2023 11:38pm
Quoting TimeTells
..While I don’t trade the USDJPY it IS integral to my view on GJ (via GU lol). Six days now Mr U. Where are we headed, well only the larger market knows (the larger players I mean) . {image} {image}
Talking of UJ, notice last retracement to today, of the daily compared to monthly?
If I don't mention SL and/or TP = longer-term setup possibly in the works!
  • #9,857
  • Nov 13, 2023 1:32am Nov 13, 2023 1:32am
Quoting whitesta
G'Day All, Exchanged some PMs with TimeTells to learn more and get advice from him. As always got great info from him. I have charts from Monday to Friday last week. Our favourite pair GBY/JPY. Just to be clear i traded just one of those. TimeTells alluded me to George's style of trading and how he was so good at what he did. At times it is so clear. Just a few confluences on a 15 minute chart. Like Bluesteele says hindsight becomes foresight. It maybe be difficult during live sessions but with the help of TIME & RNs it becomes a lot easier. Again...
Well done W. You have been busy
every Saint has a past. Every Sinner has a Future
  • #9,858
  • Nov 13, 2023 3:52pm Nov 13, 2023 3:52pm
No words really are needed I guess

.
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  • #9,859
  • Nov 14, 2023 4:14am Nov 14, 2023 4:14am
Just continuing on what i shared yesterday. Focussing mostly on London session. Just looking at 15 mins chart for what i am trying to dig. GBP/JPY charts only. No trade yesterday as per my criteria. Minimum 20 pips TP. Only last Friday setup was during the US session, (was a follow through of London Session though). There was another setup yesterday during US session which again was a follow through of London session. Today another ok setup. Charts attached. I did not take this one as I was looking more for the price to get to 186.75. Any input is more than welcome.
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  • #9,860
  • Nov 14, 2023 1:55pm Nov 14, 2023 1:55pm
Even in the GJ Grinder, the market will have its purpose

Triple swap Wednesday folks , trade safe, trade well.


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