Constant and never ending improvement
- #3,563
- Sep 26, 2012 8:57am Sep 26, 2012 8:57am
- | Commercial User | Joined Feb 2008 | 4,633 Posts
sorry to bring this topic but a bear and bull trap , isnt what some traders call 2b pattern ?
- #3,566
- Sep 26, 2012 9:08am Sep 26, 2012 9:08am
sorry to bring this topic but a bear and bull trap , isnt what some traders call 2b pattern ?
(I had to google 2b pattern)
- #3,567
- Sep 26, 2012 12:49pm Sep 26, 2012 12:49pm
- Joined Mar 2010 | Status: Trader | 1,635 Posts
I think it is a little too easier to categorise bar/chart patterns and say that it is xyz without actually understand the order flow behind the 'graphic'. A bull / bear trap can come in other forms irrispective of bar formation.
(I had to google 2b pattern)
Looks like one of bull/bear traps. I just glanced at it. Don't ask any questions.
- #3,569
- Edited 2:28pm Sep 26, 2012 1:42pm | Edited 2:28pm
- | Commercial User | Joined Feb 2008 | 4,633 Posts
I think it is a little too easier to categorise bar/chart patterns and say that it is xyz without actually understand the order flow behind the 'graphic'. A bull / bear trap can come in other forms irrispective of bar formation.
(I had to google 2b pattern)
I glanced at the PDF and this pattern that is being described is a bull / bear trap. But the problem is all he is telling traders to do is look for a 'specific pattern'. So what do traders then go and do...they scan their charts for this specific pattern that has formed in the same vein as described in the article. If that pattern doesn't exist in the form described they don't trade.
The better approach is to understand what a bull / bear trap is and how + why it works and then figure out scenario's where this will be present on your charts.
So instead of searching for a specific pattern you'll be searching for scenarios where you know a bull trap / bear trap is likely occurring.
The former is trading with a mechanical mindset - look for pattern if present, trade as per rules set out in the article - that's trading with a mechanical mindset and presents limited trading opportunities.
The latter is being objective and logical which leads to multiple trading opportunities across various pairs and timeframes and some significant trading results. Any trader that has this mindset will wipe the floor against a trader that trades with the mechanical mindset described above.
If you don't fully understand this then think about it - it's one of the most important things to appreciate and understand.
- #3,570
- Edited 2:27pm Sep 26, 2012 1:58pm | Edited 2:27pm
- | Commercial User | Joined Feb 2008 | 4,633 Posts
- #3,573
- Sep 26, 2012 4:03pm Sep 26, 2012 4:03pm
Totally agree.
I glanced at the PDF and this pattern that is being described is a bull / bear trap. But the problem is all he is telling traders to do is look for a 'specific pattern'...
Certain retail trader bar types ARE present e.g. outside bars, pin bars, but most of these setups appear random unless you read in between the lines and understand who is participating in the market and the order flow behind it.
I've included my trade for the day, it may not be something LJ would trade as it isn't the clearest of FB's but at 1R I'm not complaining. The following PB was a sign to close the trade I wasn't going to hold when clearly the bears were getting involved. Target was 1.2895 for 2R.
Trading is not easy which is why we feel so comfortable coining phrases, bar patterns, charts patterns etc. Once you figure out that a circular rod won't fit into a square hole, you're on the right path. LJ's approach to trading is refreshing as it is realistic.
Just my view of course
Totally agree.
I glanced at the PDF and this pattern that is being described is a bull / bear trap. But the problem is all he is telling traders to do is look for a 'specific pattern'. So what do traders then go and do...they scan their charts for this specific pattern that has formed in the same vein as described in the article. If that pattern doesn't exist in the form described they don't trade.
The better approach is to understand what a bull / bear trap is and how + why it works and then figure out scenario's where this will be present on...
.so plz dont bother if i ask a lot of questions..so would u kindly explain the scenario behind bull and bear trap 
- #3,575
- Sep 27, 2012 5:24am Sep 27, 2012 5:24am
- | Commercial User | Joined Feb 2008 | 4,633 Posts
lj u have a unique approach for this market from most of the other players around , most of them explain things like bar patterns , charts , bueob.fib ....etc but they can never tell what is the scenario behind that , or why it is happening..thats why i am hooked here
http://www.forexfactory.com/showthre...19#post6038219
http://www.forexfactory.com/showthre...54#post6038254
Yes, it was when I was torn to shreds by a Pro trader I met a long time ago for being obsessed with chart and bar patterns that I changed the way I looked at things and changed my mindset.
well lj and his disciples correct me if i am wrong plz, this is an example of Eur,usd bear trap daily R is broken which i marked IN RED , so the herd thought it will continue to decline further without noticing where the real money is .. now we have clear fresh demand zone on weekly tf and where professional money is waiting .AND FTB.. SO is that correct ?
- #3,577
- Sep 27, 2012 6:52am Sep 27, 2012 6:52am
- | Commercial User | Joined Feb 2008 | 4,633 Posts
well lj and his disciples correct me if i am wrong plz, this is an example of Eur,usd bear trap daily R is broken which i marked IN RED , so the herd thought it will continue to decline further without noticing where the real money is .. now we have clear fresh demand zone on weekly tf and where professional money is waiting .AND FTB.. SO is that correct ?
