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No more BS - What have you learned?

  • #741
  • Nov 6, 2012 5:50pm Nov 6, 2012 5:50pm
Quoting CindyXXXX
There is some truth in that. It can be quite a distracting and un productive place if you get into the "rut" of it.

Good luck BS (<<<< lol?)


Would just like to thank those above for their comments.... It has been interesting reading.

Exactly.. Cindy.....exactly.... Although it was fun to watch Nubs rip Bob a new arsehole. DDDD when he went off the charts..LOL...

It has its place. Keeps Slim Buffet occupied and off the streets.

To all my fans inc you Slim..Chat later fellas.
Master your Mind,,,Master the Market
  • #742
  • Feb 24, 2013 2:07am Feb 24, 2013 2:07am
It all boils down to the most primitive element of market movement - order flow. Everything else is a derivative of this.
  • #743
  • Feb 24, 2013 2:32am Feb 24, 2013 2:32am
Quoting Kanzler
It all boils down to the most primitive element of market movement - order flow. Everything else is a derivative of this.
I agree.

Attached Image (click to enlarge)
Click to Enlarge Name: orderflow.gif Size: 14 KB
  • #744
  • Edited 3:15am Feb 24, 2013 3:05am | Edited 3:15am
Quoting Mingary
I agree.

Attachment
Damn right it is. Or are you saying that price moved there by magic? The only way price got to where it went is because of the execution of orders. Perhaps this means very little to you but I've personally come to find this primitive concept critical to timing the market.
  • #745
  • Feb 24, 2013 3:05am Feb 24, 2013 3:05am
I have leared the more confirmations (Tech) I see on a chart and the more time I spend on management of the trade, the better my success rate, Locking in S/L and T/P and walking away dose'nt work for me!!!
  • #746
  • Feb 24, 2013 3:41am Feb 24, 2013 3:41am
Quoting Kanzler
Damn right it is. Or are you saying that price moved there by magic? The only way price got to where it went is because of the execution of orders. Perhaps this means very little to you but I've personally come to find this primitive concept critical to timing the market.
Again I agree.
I am serious this time (:
The example shown is real: increased order execution at this level -- the volume alone won't show that.
  • #747
  • Feb 24, 2013 3:50am Feb 24, 2013 3:50am
Quoting Mingary
Again I agree.
I am serious this time (:
The example shown is real: increased order execution at this level -- the volume alone won't show that.
My apologies then, I'm used to you playing the sarcastic skeptic.
  • #748
  • Feb 24, 2013 1:00pm Feb 24, 2013 1:00pm
i learned discipline comes first. mind your own business and keep emotions out of your work
  • #749
  • Sep 24, 2013 12:19pm Sep 24, 2013 12:19pm
discipline, emotions... if you strategy does not work, discipline will not help you to get paid...
  • #750
  • Sep 30, 2013 4:25am Sep 30, 2013 4:25am
More than I thought
Time hides Nothing
  • #751
  • Sep 30, 2013 5:24am Sep 30, 2013 5:24am
I learned that high risk reward is BS.
  • #752
  • Sep 30, 2013 7:02am Sep 30, 2013 7:02am
I learned that as long as your stop-loss/take-profit target is NOT reached, NEVER close the trade. There is ALWAYS a chance that the price will bounce back and turn the trade into a profitable one no matter how much loss the trade seems to be making on the screen but ONCE you close the trade, the loss is sealed in and permanent. No matter how far the price seems to be from to the take-profit target, if it hasn't reached the take-profit, it will eventually reach there but ONCE you close the trade, you only get what you took and nothing more and whatever profit still remaining is not yours anymore.

I learned that once you have closed your that trade, the profit/loss that you have earned/sustained doesn't matter anymore. What matters is your next trade.
Make your losses in demo. Earn your profits live.
  • #753
  • Sep 30, 2013 7:19am Sep 30, 2013 7:19am
Quoting Mingary
{quote} I agree. {image}

But then how do you view order flow in spot fx if there is not centralised volume?
  • #754
  • Sep 30, 2013 8:09am Sep 30, 2013 8:09am
Quoting bootsyjam
{quote} But then how do you view order flow in spot fx if there is not centralised volume?
Tick volume (i.e. activity) is good enough.
  • #755
  • Sep 30, 2013 9:05am Sep 30, 2013 9:05am
Quoting Mingary
{quote} Tick volume (i.e. activity) is good enough.
Where do you get the tick volume from though? If it's a broker like Oanda/Alpari/whoever, it is only showing the orders that they are routing. And no offence to us small time fx players, but I don't think I'd pay much attention to what we're doing. It's the big boys who move prices, so how do you get to see the volume of their trades in the spot fx market?
  • #756
  • Sep 30, 2013 9:08am Sep 30, 2013 9:08am
Quoting bootsyjam
{quote} Where do you get the tick volume from though? If it's a broker like Oanda/Alpari/whoever, it is only showing the orders that they are routing. And no offence to us small time fx players, but I don't think I'd pay much attention to what we're doing. It's the big boys who move prices, so how do you get to see the volume of their trades in the spot fx market?
Correlation is about 95 %
.
  • #757
  • Sep 30, 2013 9:24am Sep 30, 2013 9:24am
Could you provide me with the data/where you heard about that for that correlation? Considering that supposedly 95% of people lose money trading fx, and they're going to be going through these same retail brokers and contributing to their volume figures, I don't see how the volume data can be an accurate representation of banking/hedge fund/sovereign wealth fund buying and selling? Are they all using Oanda?
  • #758
  • Sep 30, 2013 10:23am Sep 30, 2013 10:23am
you cant even see order flow in centralized exchange with information of volume...Order flow trading is myth , and is fancy term invented by some people to make money.
  • #759
  • Sep 30, 2013 11:06am Sep 30, 2013 11:06am
Quoting bootsyjam
{quote} But then how do you view order flow in spot fx if there is not centralised volume?

trader can forget about order flow at spot markets..
  • #760
  • Sep 30, 2013 11:31am Sep 30, 2013 11:31am
Quoting J_Harrison
{quote} trader can forget about order flow at spot markets..

I completely agree. This is why these threads are so dangerous because they're full of people making pronouncements with such conviction when they're actually dead wrong. 95% correlation between spot fx retail broker volume feeds and a major international clearer-really?!
So all those small time traders are trading at exactly the same moment, and with correlated volume (i.e. not the same amount, but the same amount of buy/sell inbalance to drive prices) as the big boys?

So Oanda/Alpari/IG/whoever have similar volume readings and will therefore show the same clues as a broker who routes the trades of sovereign wealth funds/banks etc? Ridiculous. And that's even if the volume data is accurate. Clue:spot fx is unregulated. There is no guarantee of accuracy of data. And considering it's the banks who control spot fx-what are the odds that they might miss some things out-they're known for playing fair. Aren't they?

Here's what I have learned.

Look for what the big boys look for. Understand support and resistance and why prices react to these levels in terms of people liquidating positions/opening positions.
If you can pick the right price levels where price is most likely to move away from then you're getting there.
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