Flying Dutchman

Hi Jesse,

Great work by you today

I am not quite sure regarding your question.
I do not backtest in a conventional way (I will do it visually not mathematically).
To study I will use a Trade Simulator which prints up a past date and then moves the market in realtime for me (tick by tick by whatever timeframe I select).
I did this to study how (and when) the market might approach and/or leave any and ALL targets.

To this end I do still trade reversals away from any perceived end-of-runs exhaustions, as well as I also trade with the market to the next targets.
Which way is the current trade is based on the time & session & current price when I am in my trading window. I trade very few hours & times a day.

Sometimes the market does not go in my trade direction initially and I have to babysit the trade until it redirects. Which takes longer.
I only trade one pair currently (a personal reason not a market reason. I mean my pair is no better or worse than ANY instrument - mechanics are still the same).

I have set my live account to a balance I want for equity/leverage/trade lot size where +15p provides my needs & wants per day. Any more is bonus.
The "p" in my 15p also means NET profit - not just a pip count - so 15p is a net profit AFTER the commission is deducted from payout.

(Spread does not come into any final profit figure as it only represents an initial drawdown/loss trade goes into after you push buy/sell and doesnt factor profit/loss)


Your trading looks excellent from where I sit.
Everyone has their own style they are comfortable with. Each trader must find their style/comfort - and then enjoy their trading .

Wishing you well, sir.

EURUSD, Y1 (synthesized) chart. FYI, we just made a new yearly High by about ~3p so far, and at the moment, it looks like a Doji candle (but >4mo to go for the year). A point of resistance?

Hi everyone,
What is the MOST important level on your chart today?
NOT yesterday, what is the most important level on your chart TODAY?
This level that is relied upon by it seems EVERY Market Maker. This level returned to several times almost every day
I would be very happy if you could express your opinion
Best regards!

The answer might not necessarily be a single level. Because:

1. The most important level: depends on the trading style and approach
2. The most visited level: Daily open (Session open) and Prev Daily Close.

the most important level for what?
for TP or entry?
for each day, depending on what kind of traders you are
entry would openings for day and sessions.
TP would be high lows for sessions, days, weeks.

Hi Jessie,

What a difficult question. Market makers. Several times almost every day? No idea. I doubt anyone in retail knows that. How many people learn MM stuff and still lose? How about the place that gets hit the most. Call it whatever you like. Some might say supply and demand for example.

Congratulations!
All the best.

Hi everyone,
Thanks for expressing your opinion
Regards

There's 2 questions there.

For You, it is how you have analysed the market and placed your orders at the level(s) you have identified.

For the Marketmaker, where you & others have placed your orders and to provide the liquidity to fill them.

Marketmakers know from experience where retail traders are most likely to place orders, so they adjust their quotes accordingly.

A volatility day on the back of the NY Session Jobless Claims

Seen on the intraday & then daily chart

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Of course BRN's are levels watched by traders & MM's alike, as demonstrated on TT's chart above.

These trade charts I post are NOT to show, wow look at me trade .
Who gives a stuff really.

And I never show any entry based systematic trading style as I am just a discretionary trader.
When I enter it is usually, price & time oriented.

Secondary entry is often during a time compression/inflection/aggregation pricing stage, and is still discretionary.
Exit is usually around a next station (target).
I get in, get out, then do something else with my life, why not.

I will let my trades run if I haven’t achieved my asia (day) result which is 15p per day (net of comms).
Each to their own of course.
There is imo -
No ONE way to trade or one WAY which is best.
But imho our trading must (should) suit US as an individual, as we are trading in there amongst the sharks .

I have two live accounts, both with different brokers, one is a trade a/c (the results shown)
The other is also a live a/c, for a setup chart from reliable price feeds (but my “trade” broker does not see my price lines).
1st chart below is from the trade a/c, the 2nd chart from the setup a/c
(for what it’s worth )

Will be back for pre-Franky to see “where” price has moved (& arrived) in-between
They can do with price what they want now, I have no care or concern until I get back later.

May login and post again later in the week.
Trade safe, trade well all.


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Okay, now that was an impressive run down to the current Franky Open candle

Day is ~340 pips

Doubled mine in the franky leadup so DONE for the day now

Will they run down further or is this now just a Franky fake, with a London flip later, will have to wait & see

And what will transpire between London & New York Open hahaaa.

No need now for me to re-enter but will watch this for the next two hours with great interest.

Still two weeks of August left, and it has been top volatility.

Trade safe, trade well all

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Some great moves happening during the Tokyo Session lately.

It's not because of the relationship between GBP & JPY , it seems USD weakness is the principal cause.

Yes, I would agree re the USD (so they're probably close to revising the recent b/s jobs data lol - which the market took advantage of last week)

The JPY has also found a little strength (see EJ and ChfJ, but it is not across the board) so the double combo of USD-weakening, and with the JPY-returning to a little more strength that it began to show last week

Either way, I will just trade in the moment with what the market is doing and leave the rest to the professional currency readers.

Good call Shabs, trade well.

Hi Pete,
Shame on me for losing 2 orders in Tokyo session because I predicted a reversal at 189.50 (last week's resistance zone because the market tends to fool traders: resistance turns into support)
But then won in London
But it was a nasty Asian session anyway with 350 pips down
Have a nice day!

Jesse

Hi Jesse,

Well done again in London. You nailed it.

Pls take what I say now with its good & honest intentions, as each person is different, with their own personalities which they can only bring to their trading.

Firstly, and I know you were having fun, but there is no shame for you in missing trades in the market - when you are NOT there & not trading.
This is a sort of FOMO (fear of missing out) syndrome and it is has no productive value for your psyche. Especially when a new trade is ahead which should never be taken as a sort of "revenge" for missing an earlier trade. Each setup has its own timing & reasons for being entered. Unless we can sit for the full 24hrs in front of our screens (or have EA's doing it for us) we are only responsible for our trades at the moments we are present on the chart.

Next, predictions are wonderful especially when they come true, a feel good moment for sure but we also must be able imho to let go of any predictions at any time when the Market has other ideas contrary to our own. I mean we should never hold onto a trade going deep the wrong way now against our earlier prediction.

Also, and please understand I am not saying your concept of Support/Resistance is in error, just that it is not my narrative useage. My personal idea regarding S&R is that a Daily Support Line on Pivots for example does not tell me price will reverse there because it is a support line. What it does tell me is that many "other" traders may show a reversal trade interest there and if many do this then I ask who is taking the opposite side to our trades as your buy, for example, must be matched immediately with an equal and opposite sell BY SOMEONE for the trade to activate.

This is usually but not always maybe the first level of Liquidity Provider. And as Jankovsky in his Time Compression book pointed out, and quite interestingly I thought, ultimately WE do not make a winner by our directional trade but only what OTHER traders do and also AFTER US that determines future price direction and whether we win or lose. Support turning into Resistance later is an interesting concept, but probably not becuase it is either S or R but more likely this is a price line (and by definition, horizontal) where many traders are ready to show a trade interest. That is what I beleive causes the price to either bounce or continue or sit there in inflection/aggregation until that priced line interest is resolved by traders (and LPs) and price then moves off away from that line in one direction or the other. Retail traders do (edit: lol) NOT run the market or determine price direction, but we can follow its direction for the period or length afterwards that we choose.

Again, I am not questioning your trading at all Jesse, I have seen you do it very well when you post .
Just there is no reason to have concern for any trade missed (and I think you were just having fun with me), only concern is what happens when we DO trade .

---

I keep telling myself (and others) I should STOP posting lol. And stop showing trades & charts. Yet here I am again doing both hahaa. Maybe this time I rest lol

The first chart is the NEW day stations & targets that I will look at as price begins moving. Yesterdays day pivot interest lines are gone of course and with such a large overall move yesterday (~350 pips) then many of the targets are now stretched wider than on smaller ADR days so it could get interesting later. The second chart is the pre-franky extra trades I picked up yesterday for a 100 pip in total day with trades entered around prior but not the previous sessions opens (New York, London) and were against the directional flow at the tiime (reversal trades, my choice at the time).

All the best to all.
Don't listen to me, or anyone really, other than examine what might be said or shown by everyone but ultimately do what is best for YOU.
As the market trading imho is actually YOU vs YOU and not you versus the market if you know what I mean.

Trade safe, trade well all


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Good morning, Pete
Maybe you misunderstood, because my English is so bad
'' Shame on me for losing 2 orders in Tokyo session '' means I have 2 entries here, and these 2 entries have lost 30pip, not missed.
Regards!

Hi Jesse,
Thank you.
I read your post again and it was NOT your english, which I think is mostly good,
it was my bad assumption & interpretation that was wrong.
Also imo, the area you traded those 2 orders was not wrong either, just a little early but the idea was correct.
all the best today
(myself I am in & out & finished for the day )
trade well