How to read the market | Page 10 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Market Makers Vs STP Vs ECN - Newbies should read 1 reply

Read The Market - The Forgotten Art 3 replies

Article in Trading Game Newsletter - good read 4 replies

MUST READ list........ 4 replies

Anyone read Forex for Everyone 4 replies

Attachments: How to read the market
Exit Attachments

How to read the market

  • #181
  • Mar 28, 2024 4:25am Mar 28, 2024 4:25am
Quoting Inthebox
{quote} then you say it outright. there are new traders reading and will be misled
ok, I edited that post, thank you...
On ignore list of scammers, deceivers and low IQ individuals. Exclusively
  • #182
  • Mar 28, 2024 4:32am Mar 28, 2024 4:32am
Quoting zalzil123
The problem here is talk is very cheap everyone can talk for months. But give me anyone who tells you at this hour or at this minute we are having a reversal Of course no one. I'm showing everyone live trades also I don't talk boxes or areas I talk exact specific levels. Ok this is a challenge for everyone What's tomorrow's bitcoin high and low Or next week gold high and low Or next month oil high and low. No one dares to open his mouth . The reason you are orbiting in different galaxy How did I mention the gold high of the week today few hours...
that's easy...I have no clue, nor do you, nor anyone on this forum...you've proven it when you fucked up on your first attempt with the high of the day in USDJPY...

so cut the BS...
On ignore list of scammers, deceivers and low IQ individuals. Exclusively
  • #183
  • Mar 28, 2024 4:33am Mar 28, 2024 4:33am
Quoting zalzil123
The problem here is talk is very cheap everyone can talk for months. But give me anyone who tells you at this hour or at this minute we are having a reversal Of course no one. I'm showing everyone live trades also I don't talk boxes or areas I talk exact specific levels. Ok this is a challenge for everyone What's tomorrow's bitcoin high and low Or next week gold high and low Or next month oil high and low. No one dares to open his mouth . The reason you are orbiting in different galaxy How did I mention the gold high of the week today few hours...
2174
  • #184
  • Mar 28, 2024 4:44am Mar 28, 2024 4:44am
Quoting zalzil123
The problem here is talk is very cheap everyone can talk for months. But give me anyone who tells you at this hour or at this minute we are having a reversal Of course no one. I'm showing everyone live trades also I don't talk boxes or areas I talk exact specific levels. Ok this is a challenge for everyone What's tomorrow's bitcoin high and low Or next week gold high and low Or next month oil high and low. No one dares to open his mouth . The reason you are orbiting in different galaxy How did I mention the gold high of the week today few hours...
What Bfx17 is trying to tell you is

There have been many like you who act like they know it all but were just demo account traders who post screenshots when they got one good lucky trade.

and wasted several years of people's precious time explaining how to break the Enigma code in bits and never actually shared anything

if you have something to teach summarize it in one post or just stop
  • #185
  • Mar 28, 2024 4:53am Mar 28, 2024 4:53am
OK everyone

Let's make it friendly

Everyone to choose a level

For the low of the day for gold

How about that

Choose any level you think we are going to reverse.
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot_20240328-095515_MetaTrader 4.jpg Size: 771 KB
  • #186
  • Mar 28, 2024 5:26am Mar 28, 2024 5:26am
sorry everyone

I think I messed

I need to do my homework again

Thread is closed

Thanks to everyone.
  • #187
  • Mar 28, 2024 5:31am Mar 28, 2024 5:31am
  • #188
  • Mar 28, 2024 5:37am Mar 28, 2024 5:37am
Attached Image (click to enlarge)
Click to Enlarge Name: 1323457997691_7509476.png Size: 21 KB
  • #189
  • Mar 28, 2024 5:43am Mar 28, 2024 5:43am
Quoting RickM
{quote} But seriously OutThere Why don’t you do it tonight on a Demo account before moving to a live chart trading 0.01 lots so the risk of loss is only small. Pick a line in the sand which could be any moderate size MA you like and trade the any breakout provided the breakout candle is strong and has no wicks (or very small) attached towards the end of the candle facing the trend. Stop loss is only a few ticks away with no take profit set. Go on, have a go but you must STAY in till a failed low or high and NO PROFIT taking till then OR I will come...
Kind of a similair idea to how Rockypoint trades mate..?
  • #190
  • Mar 28, 2024 9:21am Mar 28, 2024 9:21am
reading is possible.
simply use a footprint chart or market profiles.
  • #191
  • Mar 28, 2024 11:24am Mar 28, 2024 11:24am
Quoting RickM
{quote} Hi Moneymaker If I gave 100 traders a profitable strategy, why is it only 10% of them become profitable. If you gave away your system to 100 traders, how many of them do you think would become profitable. Very few if any. Therefore it’s not the strategy that matters, it’s you. PS. I used to be a stupid monkey, now I am free to spend that time with people I love. PS. You actually can be any person you want to be. I was told after getting my girl friend pregnant and getting married at 21 I would always be living week by week for the rest of...
If I gave 100 traders a profitable strategy, why is it only 10% of them become profitable.

If you gave away your system to 100 traders, how many of them do you think would become profitable.

Very few if any.

Therefore it’s not the strategy that matters, it’s you.


beautiful pic of both of you
  • #192
  • Mar 28, 2024 7:07pm Mar 28, 2024 7:07pm
Quoting Paulscaff1
{quote} Kind of a similair idea to how Rockypoint trades mate..?
Hi Paul

Not really, Rockypoints trading strategy is really good but its not similar in anyway.

I spend many hours a week on a DOM trading US500 or Nasdaq Futures and what you see there is eye opening. Generally many traders enter positions by placing limit orders at key levels which creates order clusters around 4 to 5 Ticks above current price. What you see is HFT Algo's actions of attacking any order clusters that contains more than 30% of bid / ask imbalance. So they are just trading against smaller traders regardless of what the current trend is with exotic order types like "Fill or Kill".

What's my point here.

If you trade off a Fast MA, you are just prey to Algorithm's and the chances you can ride a position for a long time is very low. You see in Rocky's thread he often only gets 10-15 Ticks for many trades (which is still great and I respect his skills to get those pips / ticks )) but what if you want MORE like me.

Therefore you want to trade a slower MA where many other traders sit and trade against them.
Let's look at a 20 MA which offers levels where pullback traders are entering a position. The trick is to trade against Pullback Traders ONLY if the move is strong and the money is made because the market will move price against the mass of traders who ARE TRAPPED.

So we should be picking a MA around the 20, around the 50, around the 200 and just RIDING the move against TRAPPED TRADERS.

Cheers
Trading thin liquidity at the boundary of the charts
  • #193
  • Mar 28, 2024 9:46pm Mar 28, 2024 9:46pm
Quoting RickM
{quote} Hi Moneymaker If I gave 100 traders a profitable strategy, why is it only 10% of them become profitable. If you gave away your system to 100 traders, how many of them do you think would become profitable. Very few if any. Therefore it’s not the strategy that matters, it’s you. PS. I used to be a stupid monkey, now I am free to spend that time with people I love. PS. You actually can be any person you want to be. I was told after getting my girl friend pregnant and getting married at 21 I would always be living week by week for the rest of...
exactly, talking crap is pointless, most of them dont even know the essence part of trading even after years, If you gave away your system to 100 traders, how many of them do you think would become profitable? isnt it?
  • #194
  • Mar 29, 2024 6:33am Mar 29, 2024 6:33am
Quoting zalzil123
sorry everyone I think I messed I need to do my homework again Thread is closed Thanks to everyone.
Before you come back with your half baked lessons I want to point out Gold Market price never reversed like you expected and asked which price it will reverse to

it spiked way higher than anyone was expecting

attached is an image to add a visual evidence for the future reader, I hope you do not create a new username to start new lessons

I'm like this towards you because many people waste alot of people's time here with strategies that don't work and God Complex Ego's

Cheers,
Pip Catcher
Attached Image (click to enlarge)
Click to Enlarge Name: 89.png Size: 27 KB
  • #195
  • Mar 29, 2024 2:14pm Mar 29, 2024 2:14pm
Quoting Inthebox
{quote} then you say it outright. there are new traders reading and will be misled
This might help some understand English humour

Inserted Video
every Saint has a past. Every Sinner has a Future
  • #196
  • Mar 31, 2024 4:22am Mar 31, 2024 4:22am
Quoting RickM
{quote} Hi Paul Not really, Rockypoints trading strategy is really good but its not similar in anyway. I spend many hours a week on a DOM trading US500 or Nasdaq Futures and what you see there is eye opening. Generally many traders enter positions by placing limit orders at key levels which creates order clusters around 4 to 5 Ticks above current price. What you see is HFT Algo's actions of attacking any order clusters that contains more than 30% of bid / ask imbalance. So they are just trading against smaller traders regardless of what the current...
Rick, would you mind posting an example if you have the time.. Thanks in advance
  • #197
  • Mar 31, 2024 9:23pm Mar 31, 2024 9:23pm
Quoting mallee
{quote} Rick, would you mind posting an example if you have the time.. Thanks in advance
Hi mallee

I doubt many would call it a strategy, but rather its more about experienced I have gathered from trading against trading Liquidity seeking Algorithms on the Future markets.
I found its transferable to CFD markets as well and its far less stressful (not saying more profitable) because you don't have to face those Algo's visually.

Here is what happens on NQ / US500 Futures for example - HFT Algorithms are code to attack limit orders when an imbalance on the bids and asks occur. What that means is we may be running into pullback traders Sells or Buys. When the Asks (Sells) increase by more than 30% over Bids (Buys), the Algorithm's jump in with Market Buy orders to consume the Asks causing price to spike upwards. They stay in only as long as the imbalance lasts - then exit for profit. Sometimes it appears to be
1.. 5 seconds up - pause re-enter
2.. 5 seconds up - 2 short - out

They also place large Orders in the book to attract Buyers then delete them before execution to raise the price a few ticks.
Read about the Flash Trader and how he won against these Algorithm's back in 2010 - lets call them "the entity"

Getting back to CFD's.

My strategy trading CFD's is just this (when I decide to trade them). I wait till price approaches a 20 MA (or any level you believe a liquidity pool sits) and look to see the reaction of price near here. This is because on a trend, many Pullback traders tend to have their limit orders nearby. I expect price to stall at the MA and the trade setup is to see the price reaction.
On CFD's, you will see either
1.. a urgent spike and continuation - = Go Long
2.. Hesitation and slow reversal = Go Short.

My stop is only a few ticks so the hit rate is only 40% at best, but the winners are big because I stay in and add if possible with a BE Stop.
You have to release FEAR in your mind, believe you can read markets intend by its speed and just trust the trend.
Without trusting the trend, you can never win big.

So it's about the traders believe's, not the traders strategy on this one.

Lastly, there is one really great trading strategy that's been used by many traders, especially in the US but I have never seen it on Forex Factory. I can't fuckin believe no one here on Forex Factory doesn't trade it - INCREDIBLE
I'm not talking about it either as I have no time for creating threads, rather I am waiting for some other trader to start a thread on this strategy one day and I will join in. Its the best mechanical strategy I have seen in 30 years of trading - WHY IS NO ONE TALKING ABOUT IT?

PS. I choose to not reply to private messages, no offence intended
Trading thin liquidity at the boundary of the charts
  • #198
  • Apr 1, 2024 7:21am Apr 1, 2024 7:21am
Quoting RickM
{quote} Hi mallee I doubt many would call it a strategy, but rather its more about experienced I have gathered from trading against trading Liquidity seeking Algorithms on the Future markets. I found its transferable to CFD markets as well and its far less stressful (not saying more profitable) because you don't have to face those Algo's visually. Here is what happens on NQ / US500 Futures for example - HFT Algorithms are code to attack limit orders when an imbalance on the bids and asks occur. What that means is we may be running into pullback...
Thanks for taking the time Rick, there's a lot to absorb in that post. appreciate it.Cheers
  • #199
  • Apr 1, 2024 7:30am Apr 1, 2024 7:30am
Quoting Ferna
I don’t mind sharing, but to what end? One is just providing training data to A.I trading bots neural networks, every strategy that is slightly more effective will be nullified and subject to frontrunning. It’s kinda stupid to spread an edge around on a website which collects all your data, and then sells it to whoever wants to buy to be used as training data by A.I. It happens almost instantaneously that’s how fast it works. or they might automatically make a news story out of it like they did to one of my friends. Who would i save if i spent 5...
No one could love and admire you more than you do. Arrogant narcissist pos.
  • #200
  • Apr 15, 2024 9:51pm Apr 15, 2024 9:51pm
As a beginner, I make a lot of mistakes when it comes to reading the market. Sometimes I feel like this is still an up trend and it drops immediately which is really frustrating.
0 traders viewing now