Another bad thing I noticed about 2 day charts is some of the bars are actually 1 day. The bar from Friday sometimes is blended with an inexistent Saturday bar, and an inexistent Sunday bar is blended with the Monday bar. I won't be using them any more. Not so sure about MT5, if enough traders will start to use MT5 instead of MT4 I think they can become good time frames to trade even if now they aren't.
I left for vacation on Tuesday but put in a few orders before Monday night. I just checked and USDJPY was triggered. It missed the TP by 2 pips.
I just took 80% profit and will leave the rest running with a tight stop.
I will always trust these level-trades. They will work in >75% of the time and as you can see the drawdowns are so small that the risk-reward-ration will make you pretty happy
I just took 80% profit and will leave the rest running with a tight stop.
I will always trust these level-trades. They will work in >75% of the time and as you can see the drawdowns are so small that the risk-reward-ration will make you pretty happy
Price is what you pay. Value is what you get.
- #603
- Aug 9, 2013 2:53am Aug 9, 2013 2:53am
- Joined Jan 2008 | Status: <<--(-$-)-->> | 5,571 Posts
I left for vacation on Tuesday but put in a few orders before Monday night. I just checked and USDJPY was triggered. It missed the TP by 2 pips. I just took 80% profit and will leave the rest running with a tight stop. I will always trust these level-trades. They will work in >75% of the time and as you can see the drawdowns are so small that the risk-reward-ration will make you pretty happy
g.
I believe . . .
- #605
- Edited 5:21pm Aug 9, 2013 4:39pm | Edited 5:21pm
- Joined May 2010 | Status: HCR-LCS SFP | 6,026 Posts
- #607
- Aug 10, 2013 8:18am Aug 10, 2013 8:18am
- Joined Jan 2008 | Status: <<--(-$-)-->> | 5,571 Posts
I believe . . .
{quote} First of all its highly unlikely that your Mr. Big lots would be waiting there with a single pending order worth hundreds of lots. You can expect him to have multiple orders around a tight cluster of price levels. With that kind of selling pressure heading into the swing low, the only real action from the pros would have had to be stop hunting and fading into all that selling around the marked swing low. If selling is what they really wanted, it makes sense for them to allow for the existing selling pressure to die a natural death by hitting...
Hmmm.
So Mr BigGuy has 700 lots, he wants to sell. He divided it into 20 * 35LOT pieces.
We have a huge selling pressure. We blast through the low. Mr BigGuy (and his friends) are sad, because he only could sell 100Lots. So what he does, is he pushes price up a bit. He assumes that MrLittleGuy and his friends are now clapping in their joy seeing price breaking through so hard, and they are yelling "go south baby, go!" (aka. MrLittleGuy is in short.)
Now MrBigGuy needs liquidity to get rid of his other 600 Lots. So he pushes price up, until the Stops of MrLittleGuy and his friends are taken out. The StopLoss level of a Sell order means a buy order - which is liquidity if MrBigGuy wants to short.
So MrBigGuy simply hits the sell button now and loads the rest of his portfolio onto the market. Does the same happen on daily chart? I mean when Helius says price bounced back and forth so fast from the PPZ that there were orders left? Cuase there it seems a bit odd that MRBigGuy and his friends are waiting months just to get rid of those LOTs...
However if I assume that companies (like Nissan, Daimler etc) want to sell at good price - I mean they need 2 billion eur - they will obviously wait til price gets to a good level. Can this be a reason as well?
Cheers,
Stephen
It's all psychology...
it's a great video and I have watched it a few times myself. But this is not the message. Plus, the "big companies" wouldn't be big if they wouldn't care about the current price.
Buying when price is low and selling when price is high. Like in any other business, that's how money is made. And Sam Seiden also shows where institutional buying and selling occurs. That's his "style of trading". A method I also follow.
Sam Seiden said that it's very unlikely that JP Morgan or DeutscheBank fx traders would meet at 7 a.m. and discuss whether there is a H&S, a double top or a double bottom forming anywehre
Buying when price is low and selling when price is high. Like in any other business, that's how money is made. And Sam Seiden also shows where institutional buying and selling occurs. That's his "style of trading". A method I also follow.
Sam Seiden said that it's very unlikely that JP Morgan or DeutscheBank fx traders would meet at 7 a.m. and discuss whether there is a H&S, a double top or a double bottom forming anywehre
Price is what you pay. Value is what you get.
I was rather thinking about like a chinese giant company (just as Sam said).
Profit is a great thing - and If i were the manager of the company I would make sure that we buy the given currency at a good price. I mean I would say - okay guys we got 150million EUR left. lets wait for til the cross is good and then buy. In the worst case we gotta buy at the current market price... But if they get lucky they can avoid a lot of unnecessary loss. (That would be the way I would think.)
And these companies are big - I mean I could imagine that they are the one whose orders are left behind unfulfilled and then they wait til price gets back (first touch) and then baam!
Anyway Im just looking for an explanation why things are the way they are
Cheers,
Stephen
Profit is a great thing - and If i were the manager of the company I would make sure that we buy the given currency at a good price. I mean I would say - okay guys we got 150million EUR left. lets wait for til the cross is good and then buy. In the worst case we gotta buy at the current market price... But if they get lucky they can avoid a lot of unnecessary loss. (That would be the way I would think.)
And these companies are big - I mean I could imagine that they are the one whose orders are left behind unfulfilled and then they wait til price gets back (first touch) and then baam!
Anyway Im just looking for an explanation why things are the way they are
Cheers,
Stephen
It's all psychology...
- #612
- Aug 11, 2013 2:18am Aug 11, 2013 2:18am
- Joined Feb 2009 | Status: kiki soso largyalo | 2,243 Posts
meine augen sind die sterne
- #613
- Aug 11, 2013 6:53pm Aug 11, 2013 6:53pm
- Joined May 2010 | Status: HCR-LCS SFP | 6,026 Posts
wow, just found your thread, pinbar. good luck subscribed, for sure
Look forward to your input.
Not really my thread, it is everyone's who is interested in the subject matter.
- #616
- Aug 12, 2013 7:13am Aug 12, 2013 7:13am
- Joined Jan 2008 | Status: <<--(-$-)-->> | 5,571 Posts
Nice space. LoL {image}
I can smell some ripeness over that one
g.
I believe . . .
- #617
- Aug 12, 2013 6:10pm Aug 12, 2013 6:10pm
- Joined May 2010 | Status: HCR-LCS SFP | 6,026 Posts
{quote} Always helps to clear out the mess and wait for the most obvious picture to surface on the higher TFs.
You mean ripeness as in delectable or overripe as on rotten?
- #620
- Edited Aug 13, 2013 12:35am Aug 12, 2013 11:54pm | Edited Aug 13, 2013 12:35am
- Joined May 2010 | Status: HCR-LCS SFP | 6,026 Posts
Hey pinbar! Whats the difference between your "day" and "night" themes? Do you use the night-theme for stocks, and the day-theme for currencies?
I wouldn't start messing with stocks till you get your system together have & proven it to yourself.
They do not move to quite the same rules that FX does.