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Well.. Told Cha..
Sonic
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- #44,862
- Edited 1:25pm Mar 14, 2013 9:27am | Edited 1:25pm
- Joined Mar 2008 | Status: PVSRA with Traderathome | 23,552 Posts
I have read a very good and true account from a forummer.. It goes like this,,,
I will continue with what works for me: raw price action using price, volume, S&R, momentum, exhaustion, cycles, time, harmonic analysis, market sentiment with a splash of funny mentals thrown in.
With regard to my transition from having indicators up the ying yang on my charts to now with just volume and the 20ema and the 50sma, I need to share my experience with an old time trader, Dr. Joe, which will also show...
And this is significant because the marrying of the investment houses with the banks, and other investment houses becoming also banks, means these firms have "all the money in the world" to use to move prices according to their will. Banks create money by creating credit. So, the trading arm of their existance needs only to ask for money, and the banking arm instantly creates the credit, in any amount needed, to satisfy the trading arm's need for money to make its "play".
In otherwords, the "floor traders", as influencial as they had been in the past, were by today's standards only pikers! The banks (and their trading arms) now control all price movement via their completely unlimited ability to create money for their trading arms thru their completely unlimited abililty to create the credit to provide that money. In the USA, federal controls over limits on the banks to create credit has been totally abolished under the previous "Bush" administrations. Therefore, their "trading desks" need only to ask for money and they get it, in any amount their trading requires!
Now the real concern is what exactly is the relationship between the "market makers" and the banks. HUH?! Are "market makers" wholly independent (for the good of the market, supposedly), or are they owned or "controlled" by the very banks whose trading desks have more money to control market prices than anyone else does? ......HUH?!
If the "market makers" are just another part of the whole.....bank, market makers, trading desk.....then indeed that market is totally and indisputably rigged!
-tah
- #44,863
- Edited 9:29am Mar 14, 2013 9:28am | Edited 9:29am
- Joined Mar 2008 | Status: PVSRA with Traderathome | 23,552 Posts
- #44,864
- Mar 14, 2013 9:44am Mar 14, 2013 9:44am
- Joined Mar 2008 | Status: PVSRA with Traderathome | 23,552 Posts
- #44,865
- Mar 14, 2013 9:54am Mar 14, 2013 9:54am
- Joined Mar 2008 | Status: PVSRA with Traderathome | 23,552 Posts
- #44,867
- Edited 10:12am Mar 14, 2013 9:59am | Edited 10:12am
- Joined Mar 2008 | Status: PVSRA with Traderathome | 23,552 Posts
- #44,868
- Edited 10:19am Mar 14, 2013 10:17am | Edited 10:19am
- Joined Mar 2008 | Status: PVSRA with Traderathome | 23,552 Posts
- #44,869
- Edited 10:48am Mar 14, 2013 10:23am | Edited 10:48am
- Joined Mar 2008 | Status: PVSRA with Traderathome | 23,552 Posts
EU and EG Additional Comment:
EU, this darling of the forex market, ballerina puppet on strings, is still being held up and danced around, but for how much longer? We know why (so the MMs can load up with shorts as much as market liquidity permits [and maybe even then some]), and that explains any deceiving bullish price moves by the bear MMs. We just don't know when the MMs will initiate the break low.
We do know this. When EU breaks low, EG plummets. So EG might be one to watch for a price move back up/pullback (to SR shown?) and a re-entry short opportunity. Should such a move occur it might, as a prelude, signal the nearing of the break low of EU. The MMs might try one more time for EG shorts priced above the half number. If not, well then there is the confirmation the MMs are bears, and that there isn't any longer sufficient liquidity for shorting to be had higher up to make the cost of manipulating the price up there to get it worth while!
-tah
EU, this darling of the forex market, ballerina puppet on strings, is still being held up and danced around, but for how much longer? We know why (so the MMs can load up with shorts as much as market liquidity permits [and maybe even then some]), and that explains any deceiving bullish price moves by the bear MMs. We just don't know when the MMs will initiate the break low.
We do know this. When EU breaks low, EG plummets. So EG might be one to watch for a price move back up/pullback (to SR shown?) and a re-entry short opportunity. Should such a move occur it might, as a prelude, signal the nearing of the break low of EU. The MMs might try one more time for EG shorts priced above the half number. If not, well then there is the confirmation the MMs are bears, and that there isn't any longer sufficient liquidity for shorting to be had higher up to make the cost of manipulating the price up there to get it worth while!
-tah
- #44,870
- Edited 11:00am Mar 14, 2013 10:53am | Edited 11:00am
- Joined Mar 2008 | Status: PVSRA with Traderathome | 23,552 Posts
UJ Comment:
A short setup. Note the climatic Pump & Dump!
No need to be chinzy on EP because this can fall a good ways over days ahead (imho). Heck, just to the bottom of the current range is not a bad trade, but look at H1 and see the potential!
A short setup. Note the climatic Pump & Dump!
No need to be chinzy on EP because this can fall a good ways over days ahead (imho). Heck, just to the bottom of the current range is not a bad trade, but look at H1 and see the potential!
- #44,871
- Mar 14, 2013 11:06am Mar 14, 2013 11:06am
- Joined Mar 2008 | Status: PVSRA with Traderathome | 23,552 Posts
- #44,872
- Edited 11:46am Mar 14, 2013 11:30am | Edited 11:46am
- Joined Mar 2008 | Status: PVSRA with Traderathome | 23,552 Posts
- #44,873
- Edited 12:03pm Mar 14, 2013 11:56am | Edited 12:03pm
- Joined Mar 2008 | Status: PVSRA with Traderathome | 23,552 Posts
- #44,874
- Edited 2:47pm Mar 14, 2013 1:49pm | Edited 2:47pm
- Joined Mar 2008 | Status: PVSRA with Traderathome | 23,552 Posts
I have read a very good and true account from a forummer.. It goes like this,,,
With regard to my transition from having indicators up the ying yang on my charts to now with just volume and the 20ema and the 50sma, I need to share my experience with an old time trader, Dr. Joe,.....
....From this came his very simple method:
Buy when it goes up and sell when it goes down. I can’t remember it word for word but...
“How do you know when to stop buying?”
On the same fax was his handwritten reply, “When it stops going up.”
So I wrote on it, “How do you know when it stops going up?”
His handwritten reply, “When it starts going down.”
This sounds easy enough. Maybe in times past it was that way, easy enough. However, as the last line of this writing testifies, the markets have morphed. More credit/money, more greed, more computerization and more ultimate control and power by the banks and their trading desks all adds up to markets that are more easily rigged than ever! The markets are more prone to large swings and whips put on by those that control prices and which are for the purpose of removing others from their proper side positions and triggering into the market all pending wrong side positions and giving the proceeds/that liquidity to those in control so they can add more to the positions they are building ahead of the grand move they already have planned.
You wonder why when you are most sure of a move and most concerned about your SL, it gets hit? No matter how reasonably far away you put it, it gets hit! Swings, whips, whatever, are no longer a problem or even a concern for the huge conglomerate banks and their trading desks. They just instantly create the money they need (credit) and put on their play, taking out whoever is vulnerable and ending up getting the price where they want it, where they placed their orders to begin with, .......and where the market makers will dutifully fill them.
Yes, it is best to trade with the suspicion that you are trading in a rigged market and be most wary of and cautious over all that happens. The essence of this writing is still sound; buying pulldowns in an uptrend and selling pullups in a down trend. However, always there is the real threat of whips, spikes, whipsaws (whatever, etc.) before the next profitable move. And the more profitable the next move is to be (and the price controllers already know the specifics of that), the more likely such PA will occur first and be extreme. There is nothing wrong with wanting to protect your account with a SL. Just don't let the setting of SLs become a matter of course thru which you regularly hand your money over to these thieves.
What I am saying here is that you might think on this some. Is is better to be more sure of the trade direction even if it means late entries and less profit, or is it better to focus on having a SL and religiously placing one just beyond that "price is sure to stop here" S&R level? Because either way you have the trade direction figured correctly, but only one way are you likely to average out making any money. I say this because I have yet to see anyone consistently demonstrate in real time trading a strict SL placement method/rule that results in profit overall. If there is such a method/rule, then I look forward to the user of it demonstrating it with an uninterrupted duration of real-time trading sufficient to provide the proof.
Having said all this, I also say that all traders must decide for themselves how to manage their trading monies. It is their own task to make such a decision and, win or lose, to take the responsibility for it.
-tah
- #44,876
- Edited 3:24pm Mar 14, 2013 2:57pm | Edited 3:24pm
- Joined Mar 2008 | Status: PVSRA with Traderathome | 23,552 Posts
- #44,877
- Mar 14, 2013 5:23pm Mar 14, 2013 5:23pm
- | Joined Jan 2011 | Status: Just a trader of trades ... (5 | 1,439 Posts
Yes im long in cable too ...
ofc - was easy to spot ---
i wrote some days before about this nice gold chart -
so i plan to add another gold long ... here u see the spot price based on thickvolume
here took this entry based on h4 and m5
m5 not attached
maybe helpfull for someone
lets see - i try it and risk a lttle bit
enigma4x
ofc - was easy to spot ---
i wrote some days before about this nice gold chart -
so i plan to add another gold long ... here u see the spot price based on thickvolume
here took this entry based on h4 and m5
m5 not attached
maybe helpfull for someone
lets see - i try it and risk a lttle bit
enigma4x
enjoy my life ... and ride the waves - all what I do 
I'm not sure what Sonic would say, but man, you gotta be like a surfer, knowing good looking waves from crappy ones, and knowing when the good looking waves should be coming and therefore should amount to something, and when they shouldn't, and likely won't. You are trying to be too detailed, too specific. The market isn't like that. Hell, the MMs might wake up on the wrong side of the bed and cast a monkey wrench into things for no other reason than they are pissed off! At least, that is how you need to framework it all.
Thanks for your reply. Might be real good to get that into practice with charts on here for comments. Cheers mate. Another question here, I notice on your charts there are acroymns that I ain't sure bout. Probably you can explain to me? RWH, RDH,RWL, RDL. Are you those your entries and SL?
Thanks
Derek
- #44,880
- Mar 14, 2013 8:34pm Mar 14, 2013 8:34pm
- Joined Mar 2008 | Status: PVSRA with Traderathome | 23,552 Posts
Hi Tah,
Thanks for your reply. Might be real good to get that into practice with charts on here for comments. Cheers mate. Another question here, I notice on your charts there are acroymns that I ain't sure bout. Probably you can explain to me? RWH, RDH,RWL, RDL. Are you those your entries and SL?
Thanks
Derek
-tah