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Stating The Obvious and The Quest For Wisdom

  • #1,281
  • Mar 27, 2010 4:52pm Mar 27, 2010 4:52pm
Just an FYI, anyone who requested updates on the old site doesn't need to do so again. Your already on the list.
  • #1,282
  • Mar 27, 2010 4:53pm Mar 27, 2010 4:53pm
Quoting eurotrash
I don't care how much it costs, I want it!!!!!111
Good luck with that attitude.

I'm just thinking how much return on his time would make writing the book worthwhile. I can't see money being the motivation if DS trading is going as well as I assume; for money to be the motivation he would require way, way over, 200 buyers at £40 each. I suppose the possibility exists for the books popularity to spread and it become a hit, I mean, look at the crap about trading that sells thousands of copies.
Living the adventure in my head.
  • #1,283
  • Mar 27, 2010 4:54pm Mar 27, 2010 4:54pm
Anyone here know what London fix is? I see it mentioned on some news sources. In fact I need to read more on all these "fix" times. And month-end flows and all that lol.
  • #1,284
  • Mar 27, 2010 7:19pm Mar 27, 2010 7:19pm
Quoting Deusomega
Darkstar's website has been updated if anyone wants to take a look.

"Sadly, even after nearly a 1000 forum posts on the subject, not many have been able to figure it out."

I feel retarded. I think Darkstar is a smart guy but I think I am as smart as he is... yet I just can't get my mind wrapped around the order flow mindset fully. I understand that orders cluster and from the literature I can see where these orders "usually" cluster... I think I'm gaining a better grasp on the effects of options on the spot market... I understand SL hunting...
Don't feel bad man. You're working on it and you have the attitude that will no doubt get you there. For me, I had to break away from all the academic things and take what I had learned there and just go to the market to start learning. Open your charts and carefully skim all the data you can get your hands on.

As I have found, it's pretty much impossible to take the things learned from all the sources floating around here; Harris, Lyons, Osler, Ect and effectively sublimate them into a profitable trading strategy. I felt for a long time about those I just mentioned like pip and mark feel about me. They passed on a lot of good information, but it's hard to see examples of what they are talking about in the market. Have you noticed in the Harris book in the discussion about how orderflow impacts prices that no examples are given? Harris gives the reasons (private information, inventory management, liquidity effects), but doesn't flesh it out much.

He devotes a whole chapter to value trading and gives only vague convoluted examples. Why was Uncle Larry being so stingy?

He was giving just enough hints to his audience (prospective practitioners) about where, and what to look for, but leaves all the hard work in the hands of the reader.

What has happened with me personally is that I've found peculiar things in certain data and when I think about what it is or why it works I end up saying "Oh yeah, this looks exactly like what Uncle Larry was talking about."

So that’s really the key. Just get into the data, and when you find something that works, keep it to yourself because it's what YOU have worked so hard to find. When you get your paycheck from your job you wouldn't think of just throwing it away or giving it to people who are able but not willing to work. This is not directed at you, I'm just making a point.
  • #1,285
  • Mar 27, 2010 8:28pm Mar 27, 2010 8:28pm
Quoting Scotty B
Don't feel bad man. You're working on it and you have the attitude that will no doubt get you there. For me, I had to break away from all the academic things and take what I had learned there and just go to the market to start learning. Open your charts and carefully skim all the data you can get your hands on.

[color=black][font=Verdana]As I have found, it's pretty much impossible to take the things learned from all the sources floating around here; Harris, Lyons, Osler, Ect and effectively sublimate...
Yeah his examples aren't as fleshed out as I would like but hey I think its pretty much an introductory course book for his classes so yeah.
  • #1,286
  • Mar 27, 2010 10:14pm Mar 27, 2010 10:14pm
Quoting Scotty B
As I have found, it's pretty much impossible to take the things learned from all the sources floating around here; Harris, Lyons, Osler, Ect and effectively sublimate them into a profitable trading strategy. I felt for a long time about those I just mentioned like pip and mark feel about me. They passed on a lot of good information, but it's hard to see examples of what they are talking about in the market. Have you noticed in the Harris book in the discussion about how orderflow impacts prices that no examples are given?...
Trading is an art not a science so it is difficult to say, read a book and automatically bang develop a profitable truly order flow based system.

Harris's book is very good, but it will not automatically get you to where you want to be. Applying the knowledge in the book took me around 6 months. Everyone gets different things out of the book because we all have different personalities and are coming from different mindsets and are at various stages of personal/psychological development.

The most important chapters(to myself at least) were Chapters 4,8, 10,11,12,15,16,17. He does give examples but it is natural to initially struggle to comprehend how you could possibly apply it to the forex market. You are after all going up against the best of the best, with talent and liquidity all across the globe, all fixated and trying to figure out where the eur/usd(or any currency) is going to go. They are still human beings and are highly susceptible to emotions of fear/greed and are thus inefficient at best.

I understand people have a tough time applying the material to the market but it is a learning process. You need to read, apply, think deeply about the market and its basic structure/micro structure, rinse and repeat. You apply and come back every few days and reread and re apply. You do that for a few months and you still start to discover the opportunities that eluded you previously. You will be able to read the book again and notice that your mindset has started to change and can interpret the information much better that time around.

Not everyone can make it. Over 90% will fail if not far higher, either because they didn't have the commitment to break through the innumerable barriers, or they discovered that this particular trading mindset didn't fit their personality and found some other way to trade.
Private message me for a link to my order flow website.
  • #1,287
  • Mar 28, 2010 9:15am Mar 28, 2010 9:15am
Quoting Deusomega
Becoming a proficient trader is such a weird process... unlike other pursuits the carpenter knows he is becoming more proficient when he is advancing in the things he is able to craft. The lawyer understands he is becoming more proficient by being able to craft stronger legal arguments than when he first began.

The trader has no real midpoint or stepping stones... an individual who is trying to become proficient and profitable in trading can go on learning and reading forever without ever accomplishing this goal. Sure he learns about trend lines,...
Amen to that, brother. And to top it all, when you read other people's opinions, it's really hard to separate the ones who had figured it out in a practical way (made money) from the ones who seem to know more than you but still are no more succesful in any tangible way.
  • #1,288
  • Mar 28, 2010 4:20pm Mar 28, 2010 4:20pm
Quoting Deusomega
Anyone here know what London fix is? I see it mentioned on some news sources. In fact I need to read more on all these "fix" times. And month-end flows and all that lol.

Hi Deusomega,

London fix is 16.00GMT.


Regards,


BabeFX
  • #1,289
  • Mar 28, 2010 4:23pm Mar 28, 2010 4:23pm
Quoting BabeFX
Hi Deusomega,

London fix is 16.00GMT.


Regards,


BabeFX
Yeah thanks I figured it out.

Fixing: A preset time of day when bids and offers are aggregated and cleared at a published price. Popular fixings are the “ECB fix” at 12:15 GMT and the London fixing at 16:00 GMT. Fixings are used primarily by asset managers. They have a fiduciary responsibility to get their clients the best possible execution and the thinking is the fixing price is the most transparent of the day. The benchmark price is published by the WM Company.
  • #1,290
  • Mar 30, 2010 1:16pm Mar 30, 2010 1:16pm
After having read this thread to completion I got to thinking about what has been shared by DarkStar & how kind it was of him to do so, but I also thought, its not what he shared that is important, but what one does with that information. Can YOU make use of that information to the point that you can trade with it? I dare say MOST WILL NEVER reach the level of understanding required to put it to the trade & I'm included in that group. The information is thought provoking for sure, but will you get your mind around it to the point that you really truely understand its importance. As one trader, I believe said on this forum, "trading is an art form" & trading using this information DarkStar has shared surely would be an art form.

For me finding a method, system or whatever you desire to label it that I could get my mind around & understand was the greatest accomplishment for me in my trading career & it has stood the test of time with some tweeking along the way. The bottom line...........find a way that YOU can understand & trade accordingly. What works for Darkstar, or another trader just might not work for you, but that does not diminish the value of what DarkStar has so graciously shared.

________________________________
  • #1,291
  • Mar 30, 2010 1:25pm Mar 30, 2010 1:25pm
Quoting acetrader
As one trader, I believe said on this forum, "trading is an art form"
Yes, he was an inspiring and wise old trader... How we wish we could experience that fine day when he shared that nugget of wisdom with us! Ahhh (looks up toward the sky).

PS. grkfx said it four posts ago.
Living the adventure in my head.
  • #1,292
  • Mar 31, 2010 1:21am Mar 31, 2010 1:21am
I have followed the old orderflow thread and this one with great interest.Scotty you have been on this for a while so really hope it works out for you! I was really wondering how can i find out where the barrier options are placed? Any info would be greatly appreciated- cheers
  • #1,293
  • Mar 31, 2010 5:02am Mar 31, 2010 5:02am
abritton76,
they are mentioned in the news. IFR news (& probably other news providers).
  • #1,294
  • Mar 31, 2010 5:11am Mar 31, 2010 5:11am
Thanks a lot supremechaos, do you yourself have access to IFR?? Are all the barriers mentioned? I know sometimes you hear about the odd one or two but a list of some sorts or calender would be great. Also do you know how I can get the IFR news without spending a fortune?? I heard if you have an account with Oanda you get it but I am with Alpari.
  • #1,295
  • Mar 31, 2010 10:33pm Mar 31, 2010 10:33pm
".....I can give this rule: In a narrow market, when prices are not getting anywhere to speak of but move within a narrow range, there is no sense in trying to anticipate what the next big movement is going to be up or down. The thing to do is to watch the market, read the tape to determine the limits of the get-nowhere prices, and make up your mind that you will not
take an interest until the price breaks through the limit in either direction. A speculator must concern himself with making money out of the market and not with insisting that the tape must agree with him. Never argue with it or ask it for reasons or explanations. Stock-market post-mortems don't pay dividends." Jesse Livermore, "Reminisences of a Stock Operator"
"If The Fool persists in his Folly he will become wise." - William Blake
  • #1,296
  • Mar 31, 2010 10:41pm Mar 31, 2010 10:41pm
Quoting The Fool
".....I can give this rule: In a narrow market, when prices are not getting anywhere to speak of but move within a narrow range, there is no sense in trying to anticipate what the next big movement is going to be up or down. The thing to do is to watch the market, read the tape to determine the limits of the get-nowhere prices, and make up your mind that you will not [font=Lucida Sans Typewriter, Lucida Sans Typewriter, sans-serif]
[color=#000000]take...
i like it and i agree, except that lately the charts seem to have been meandering slowly all over the place and only have a few instances where there is significant action. trying to jump on the moves has been futile as they seem to end as fast as they start.

maybe i'm looking at the wrong charts and need to put my glasses on

slow seasons :/
Congratulations ScalaFX for coming out of the closet!
  • #1,297
  • Edited 11:38pm Mar 31, 2010 11:25pm | Edited 11:38pm
Let's throw some ideas around... Considering the EU's bearish outlook at present re. the whole Greece issue, the fact that we have large vanilla options sitting at 1.35 (plus more below), and presuming buy interest will be substantial around the 1.34 level... who agrees that short EU is on the cards?

PURELY FOR BOREDOMS SAKE WHILE WATCHING THE MARKET TODAY I'll take a punt. Pending short order at 1.3550, Stop 1.3620, profit target 1.3420. 70 pips risked at risk for a 130 pip gain.

Logic: The stop is beyond where I would presume a stop hunt would reach (we have reported stops above the previous spike and 1.36) and the TP is beyond some of the options we have expiring to the downside today; I'm hoping the negative sentiment coupled with the interests of the option holders will mean that this will be a short day.

Chances are I will lose on this trade... given my profit target being substantially larger than my risk.

EDIT: Doesn't look like my order will be picked up.
Living the adventure in my head.
  • #1,298
  • Mar 31, 2010 11:36pm Mar 31, 2010 11:36pm
Quoting Leonlorenzo
Let's throw some ideas around... Considering the EU's bearish outlook at present re. the whole Greece issue, the fact that we have large vanilla options sitting at 1.35 (plus more below), and presuming buy interest will be substantial around the 1.34 level... who agrees that short EU is on the cards?

PURELY FOR BOREDOMS SAKE WHILE WATCHING THE MARKET TODAY I'll take a punt. Pending short order at 1.3550, Stop 1.3620, profit target 1.3420. 70 pips risked at risk for a 130 pip gain.

Logic: The stop is beyond where I would presume a stop hunt would...
With there being only 1 liquid trading day left before Easter I wouldn't go all crazy trying to read too much into the EU bearish outlook. Yeah there could be some people initiating fresh swing shorts at these levels. Today as it was yesterday, will be more about end of month/quarter flows and position squaring before the holidays. Mix in some stops at the ranges and you can start putting the pieces of the puzzle together...
Private message me for a link to my order flow website.
  • #1,299
  • Mar 31, 2010 11:42pm Mar 31, 2010 11:42pm
Quoting Leonlorenzo
... who agrees that short EU is on the cards?
I am scalping short now. Any journey must begin with a single step. If I get the right step in I see a southbound trip extending into next week...
"If The Fool persists in his Folly he will become wise." - William Blake
  • #1,300
  • Edited 11:54pm Mar 31, 2010 11:42pm | Edited 11:54pm
Quoting grkfx
With there being only 1 liquid trading day left before Easter I wouldn't go all crazy trying to read too much into the EU bearish outlook. Yeah there could be some people initiating fresh swing shorts at these levels. Today as it was yesterday, will be more about end of month/quarter flows and position squaring before the holidays. Mix in some stops at the ranges and you can start putting the pieces of the puzzle together...
So your thinking volatility/ranging? May I ask who this 'advice' is coming from?

EDIT: OK, that didn't sound too friendly. I meant to ask if you had been trading this way for longer than the existence of this thread; in essence, asking if you were speaking from experience.
Living the adventure in my head.
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