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Flying Dutchman

Half an hour to Franky Open,

But I am done for the day I feel (+62½p net)

Triple Swap wednesday also - so who will be defending their GJ buys and who will be then taking the opposite sells.

Doubt I'll dabble again today. Been at it for a while now, longer than I usually spend in total in the Asia session.

Boring sh!t I understand , sorry, but the market (imho) is either chasing latent liquidity or trying to draw in new liquidity.

It's been an interesting week to say the least with higher volatilitty (on assumedly lower liquidity) being the Nth Hemisphere Summer Holiday Period.
(I wish the volatility was always like this hahaa, quite a bit easier to comprehend imo & work with I reckon, than the sit & wait style of the usual market managers).

A mere 500 pip day from top to bottom so far

(I'll give it a rest posting charts for a few days , but no clearer time to see the mechanics than now imho )

.
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Quoting TimeTells
Half an hour to Franky Open, But I am done for the day I feel (+62½p net) Triple Swap wednesday also - so who will be defending their GJ buys and who will be then taking the opposite sells. Doubt I'll dabble again today. Been at it for a while now, longer than I usually spend in total in the Asia session. Boring sh!t I understand , sorry, but the market (imho) is either chasing latent liquidity or trying to draw in new liquidity. It's been an interesting week to say the least with higher volatilitty (on assumedly lower liquidity) being...
Who doesn't LOVE Pete's Charts !!! My first thoughts when I look at them is Simplify, Simplify, Simplify....
Man we get so wrapped up in indicators and volume and endless rabbit holes...

WHy not Simplify?

Ya ya ya ...I use indicators....I use market profile etc.... But how about setting some parameters for trading in a "If this, Then That" scenario..

I say this only for traders that are searching..................... Lots of ways to make money in the markets... What I say isn't Gospel ...
Just my reflections after decades in the markets. Were all different and No one trades the same.. Its an individual performance business.

But lets take the GJ as a study.....I know Pete/Timetells trades pretty well this exclusively... Great choice IMO....

Lets look at a scenario to filter your trades to ones that "May" be higher probability setups..

You may have observed TimeTells charts...Round #s Halves and Quarters.....are evident on them....

Here's a shot of my GJ chart with 00s and 50s only and some timing windows...

WHAT IF you only looked for a trade during a "certain time window" and at "Certain Levels"
COULD you use that to build a trade thesis? To build a trade plan ? to look for a Setup?

Simplify....Timings Levels Behaviour of Price....(ya ya Stacey Burke )

Idea: limit yourself to trade ONLY certain Times..Only certain Levels...And build criteria around that,...

Perhaps like Whitesta was doing...search him and his charts he posted up on this thread.

Anyways just going to toss a current GJ chart up.. Nope I haven't traded GJ in many months.
But a chart is a chart..Just a rational representation of Human behaviour.

Ive only highlighted SOME...SOME of the areas of interest where PRICE tags 00s and 50s...

Can you develop a trade thesis around these levels when you incorporate TIMING LEVELS B.O.P.

I know you can......Think simplicity..........

Cheers
Blue


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The Best Loser Wins
Quoting bluesteele
{quote}
WHAT IF you only looked for a trade during a "certain time window" and at "Certain Levels"
COULD you use that to build a trade thesis? To build a trade plan ? to look for a Setup?

Just great, Kev
Quoting bluesteele
{quote} Who doesn't LOVE Pete's Charts !!! My first thoughts when I look at them is Simplify, Simplify, Simplify.... Man we get so wrapped up in indicators and volume and endless rabbit holes... WHy not Simplify? Ya ya ya ...I use indicators....I use market profile etc.... But how about setting some parameters for trading in a "If this, Then That" scenario.. I say this only for traders that are searching..................... Lots of ways to make money in the markets... What I say isn't Gospel ... Just my reflections after decades in the markets....
Love this post, bluesteele
My objective is to learn the skill of flawless execution of my trading plan
Quoting vidvad
{quote} Love this post, bluesteele
Cheers Vid !
The Best Loser Wins
Hi,

I've PMed a couple of you privately and neither have answered. I'm sure you get pestered all the time, so there's no hard feelings there. However, I'd still like an answer to my question, so I'm going to write it out here in the open:

Is George AUS still alive and reachable on Skype?

I'm two thirds of the way through reading the Price Action At The Core thread and would very much like to chat with him if it's possible. I realise I've discovered the thread 5 years after it was active and believe that George wasn't in the best of health at the time, so don't know how the land lies.

Thank you and sorry for hijacking the thread.
Quoting 4XPhuq-R
Hi, I've PMed a couple of you privately and neither have answered. I'm sure you get pestered all the time, so there's no hard feelings there. However, I'd still like an answer to my question, so I'm going to write it out here in the open: Is George AUS still alive and reachable on Skype? I'm two thirds of the way through reading the Price Action At The Core thread and would very much like to chat with him if it's possible. I realise I've discovered the thread 5 years after it was active and believe...

I am in Australia and dont always log in or are on the forums over the weekend.
If George himself has not answered your PM then he has also not read it I would assume.
I have sent a quick reply to you this morning.
Plus I see this morning that the overworked () bankers in Japan have needed YET ANOTHER BANK HOLIDAY today.

It is what it is over in the land of the Yen
Hi Peter,

I am waiting for price to react at london open
Maybe attract buyers then go down to fill gap?
Congratulations!
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Hi Jesse

I like your charts

Not much difference in both our views

None of us have the market to-perfection (even those that say they do lol),
but we all can work out our (and the markets) assumptions around certain spots

all the best for today
Quoting TimeTells
Xin chào Jesse, tôi thích biểu đồ của bạn. Không có nhiều sự khác biệt trong quan điểm của cả hai chúng ta. Không ai trong chúng ta có thị trường hoàn hảo (kể cả những người nói rằng họ có), nhưng tất cả chúng ta đều có thể đưa ra các giả định của ḿnh (và thị trường) xung quanh một số điểm nhất định....
Hi Peter,
Thanks for your compliment but this is just a chart for me to have a visual, the chart I use is much more complicated, here is a corner of it.
I wonder if you have any way to tell if the market will break the m15 or h1 or h4 targets? I often get caught up in trouble when the market clears the big targets.
Congratulations!
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Quoting JesseNguyen
{quote}
Hi Peter, Thanks for your compliment but this is just a chart for me to have a visual, the chart I use is much more complicated, here is a corner of it.
I wonder if you have any way to tell if the market will break the m15 or h1 or h4 targets?
I often get caught up in trouble when the market clears the big targets. Congratulations! {image}
Hi Jesse

Hard to answer in one single line.
I also need to always UN-complicate my charts
But I do have 3 x ma’s running, one short, one medium, one long parameter.
But they are mainly for an overview from across my office and NOT as an entry (or exit) point.

I watch all the ‘targets’ that I show on every chart I post though while even then they are NOT for entry

At any point I will have targets BOTH above AND below where price is now
When I see price stalling around a confluence of targets THEN it is mainly just watching to see what price “reaction” happens there
(as Pivot SUPPORT lines for example do not necessarily act as support every time, its about 50/50)
The same with Round Numbers. I have no expectation of a bounce or reversal at those lines.
Same again with the remainder of the targets I have on my charts.

It is, for me, ONLY the reaction of price around the target confluences, and therefore might be buy OR sell (or just SIT).

Which one will it be - well that’s the Trading Part
(Maths comes in via ADR etc and how far price has moved during the current/past session)

The chart below is what I was looking at (minus my ma’s) at the day(S) R1 which is at the red line at 188.135 which was two 15m candles into the Franky Open
(where I usually ‘contemplate’ is THIS the potential spot for a Fake’N’Flip back to London Open)
I have to wait and see.

So, from the chart last candle below, price ended up selling down to the RN750 from the BRN000 below the red line.
25 pips was the final block. Though I have just +18½p net taken on my day so far (I seek +15p)
Last week was wild though and there were 50/60+80 pip days on all the volatility, I grab what I can when I can.

Today is also a Japan Bank Holiday.
Will I trade again later. Maybe not. But price is hovering around the BRN188 again, so will wait & see.
I imagine some mischief hahaa between now & the NY Open but I will be asleep then when some further action is quite likely to take place

all the best, sir

.
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Quoting TimeTells
{quote} Xin chào Jesse Thật khó để trả lời trong một ḍng. Tôi cũng cần phải luôn luôn GIẢM phức tạp các biểu đồ của ḿnh Nhưng tôi có 3 tham số x ma đang chạy, một tham số ngắn, một tham số trung b́nh, một tham số dài. Nhưng chúng chủ yếu để có cái nh́n tổng quan từ khắp văn pḥng của tôi và KHÔNG phải là điểm vào (hoặc...
HI Peter,
Thanks for the useful information you shared.
Have a nice day, Sir
Regards!
Quoting TimeTells
{quote} I am in Australia and dont always log in or are on the forums over the weekend. If George himself has not answered your PM then he has also not read it I would assume. I have sent a quick reply to you this morning.
Thank you! I'm going to read your PM now.
Hi,
A nice 80+ pip bounce
But the red box is more important
Does Mr. MM want me to think: ''that resistance zone will become the new support zone, put a lot of stop loss for you''
Congratulations!
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The new week has begun.

Market moving station to station (trader attractors), with its fakes'n'flips, bermuda triangles (back to base) & opens/closes

There is still volatility on the August lower liquidity it seems (shaking out AND attracting new trader orders)

Could be an interesting week again

Trade safe, trade well all


.
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Mon & Tues were on point
(I still miss out though, as sleeping, all of the NY action but it is what it is and I accept that)

Wed has again started with logical (imho) market mechanics of station to station action (trader attractors)

And while there is likely more there, with other targets, I don't trade to fear or greed and as seeking +15p per day I will close my Asia now and return pre-Franky
Each to their own of course

Trade safe, trade well all


.
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Quoting TimeTells
Thứ Hai và Thứ Ba đă đi đúng hướng (mặc dù tôi vẫn bỏ lỡ, v́ ngủ, tất cả các hoạt động của NY nhưng nó là như vậy và tôi chấp nhận điều đó) Thứ Tư đă bắt đầu lại với cơ chế thị trường hợp lư (theo ư kiến cá nhân tôi) của hành động từ trạm này sang trạm khác (các yếu tố thu...
Hi Pete,
You choose trade to the target ?
One more question: what does the monthly, weekly, daily, session open mean to you?
Have a nice day!
Quoting JesseNguyen
{quote}
Hi Pete, You choose trade to the target ?
One more question: what does the monthly, weekly, daily, session open mean to you? Have a nice day!

Hi Jesse,

Cheers & hello
Mate I do not (always) trade to the target, sometimes I trade away from the target also. It is discretionary with me on how the market is behaving "now".
This morning the targets traded were in between round numbers (my favourites) but can also be between now and a yesterday hi OR low for example.
Or from a pivot line, PP, S/R1 etc where I will always wait & see if the market makes "its" move

The targets are just sitting there (one above & one below price at all times) and my assumption is that these areas can attract other traders (not me) into either entering OR exiting a trade. With both those scenarios (enter/exit) creating a different liquidity situation at the time - one adding liquidity, one subtracting liquidity.
So a fair chance (probability) that the market may move. And if it does move, then where might it likely move to.

I dislike the word probability in trading even though I am maths oriented
(I was 100% maths oriented when rating horses back in the day - until I started watching the horses with my eyes and then I see an extra layer to add to the maths)
Back to probability. What if I said my data indicated that at one particular target the probability was 58% that price would reverse and 42% it would continue.
Should I always take the reversal trade at that target and close out with a small SL if price continued, based on the probabilities (of what has happened in the past)
Or should I just wait & watch what the market does after finishing its standstill at the target.
I know the probability yes but I don't know the actuality of what will happen next.

Watching the market response is what I choose to do these days
But not in my early days, then I wanted the glory of 'predicting' the market direction and getting in at the moment of potential movement.
I now select +15p day end result based initially on a 25 pip target block ie RNs
And was happy to miss out on the first five pips waiting on direction confirmation and then miss also the final five pips right AT the target, because if price WAS going to that exact target then it was a "lock trade" closing five pips early - money is in the a/c - else the market flip over on you right at the end.
Not a perfect way to trade I agree, but I choose to do it that way each day now.
So how can I get more than +15p (well sometimes the targets are further apart than just 25p RNs and they are great days, 40, 50 even more pips at times).

Either way, I have seen better, more comprehensive, and more mathematical ways to address trading the market. What I do just suits me, no one way is best imho.

2nd question
The opens are only important to me if the market price is now moving towards them (or away from them).
The session opens are a bit different as the market can often fluctuate around them or do a bermuda triangle and head right back to them.
The concept is that there may be residual or latent liquidity still just sitting there, or be a price/line where traders will cash in their TP and remove current liquidity.
And BIG traders/instutions etc I mean, not us, not retail, we just tag along for the ride on the big wave players as best we/I can (again, just my opinion)

all the best
Quoting TimeTells
{quote} Xin chào Jesse, Chúc mừng & chào bạn Tôi không (luôn) giao dịch theo mục tiêu, đôi khi tôi cũng giao dịch xa mục tiêu. Tôi tùy ư quyết định thị trường đang hoạt động như thế nào "bây giờ". Sáng nay, các mục tiêu được giao dịch nằm giữa các số tṛn (mục yêu thích của tôi) nhưng cũng có thể nằm giữa bây giờ và mức cao HOẶC...
Hi Peter,
Okay, anyway, it's a personal trading style, I really appreciate your dedicated sharing.
I personally have traded to the target and reversed, but over time I find waiting for the market to sweep the liquidity zone is safer and gives me a high win rate.
I'm learning to use hedge because I simply hate losing orders, it makes me uncomfortable haaaaaa, I'm trying it on demo and the results seem to be positive, as long as I can build an independent mentality between the two orders
Today was a great day, GJ GA and XAU gave me 3 perfect reversals, I entered the order with a difference of no less than 5 pips, it was great. But I have a question: I have been following and reading your posts since 2019 - I see you practice backtest and demo trading with reversal orders very successfully, very high win rate... why do you give up this trading style now?
Thanks, have a green pip day!
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