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  • #838,801
  • Sep 29, 2013 10:08pm Sep 29, 2013 10:08pm
Quoting attila
{quote} Did I say L2 level Magix? It's in the PA, if you can read it.. Tick by tick chart... Anyway, I'm not going to sit here debating it... Works after several thousands of hours of watching how those ticks move... I'm not watching no volume either..GL.
Ya didn't say L2, you described it.

Quoting attila
{quote} No.. If you have a buy for instance.. it'll go up and find the sell orders above.. The more sparse they are, the faster the price moves... The sells belong to the market makers..
Call it a whatchamadingle, it's still L2 trading.

If ya wanna use a tick chart, go nuts...really it has it's merits too.

Using indicators as reference, still not a terrible place to be and they do work fractal to all TFs. These help define the markets.
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #838,802
  • Sep 29, 2013 10:14pm Sep 29, 2013 10:14pm
Who won? ............ I don't participate in it .......... I am Asian.
The Thief of Wall Street
  • #838,803
  • Sep 29, 2013 10:17pm Sep 29, 2013 10:17pm
Quoting Magix
{quote} Ya didn't say L2, you described it. {quote} Call it a whatchamadingle, it's still L2 trading. If ya wanna use a tick chart, go nuts...really it has it's merits too. Using indicators as reference, still not a terrible place to be and they do work fractal to all TFs. These help define the markets.
Did I describe it? I don't know. Maybe.. By coincidence, because I know nothing about L2 forex trading... If in the end I actually end up doing exactly that through other means...It seems to be working pretty well... I am way passed the time when I was looking for that one thing... Been there done that.

I'm not sure I understand this though..

"Using indicators as reference, still not a terrible place to be and they do work fractal to all TFs. These help define the markets"
  • #838,804
  • Sep 29, 2013 10:18pm Sep 29, 2013 10:18pm
EU tend is up:

Case #1: Price may be sideway, consolidation mode before NFP or next month high impact news. Sideway zone range: 1.3565 to 1.3465 (Short from Resistance , Long from Support between sideway range until breakout) . Buy or SELL both r profit between range.

Case #2: Breakout sideway from Lowerside (1.3465) and go to support 1(1.3415 or 1.3400). So from support1 it may go support 2. After that it will bounce to go resistance (1.3700)

Case #3: Breakout sideway from Upperside (1.3565) and go to resistance (1.3700)

http://bdpips.com/uploads/imgs/bdpip...usddaily30.png
  • #838,805
  • Sep 29, 2013 10:28pm Sep 29, 2013 10:28pm
Quoting attila
{quote} Did I describe it? I don't know. Maybe.. By coincidence, because I know nothing about L2 forex trading... If in the end I actually end up doing exactly that through other means...It seems to be working pretty well... I am way passed the time while I was looking for that one thing... Been there done that. I'm not sure I understand this though.. "Using indicators as reference, still not a terrible place to be and they do work fractal to all TFs. These help define the markets"
Early days of my forex trading, I worked using L2. There are certain broker feeds that show where the orders are and the bid/ask stacks.

It shows where there are walls of support and resistance by the number of pending orders. Kinda goes along with the logic in forex, when the question is asked, why did price go up? and the Answer that follows, is that there is more buyers than sellers...

Seeing these walls of sellers can show you clearly on L2 stacks where resistance is. Profit takers will dump for reload.

Anyways, that is pretty much what you described.

Moving along...

Defining a trend. A lot of traders lose their asses because they lack the innate ability to follow the trends, mostly by way of patience alone.

Ya see, I trip the M1 charts, just simply because I love the action. Typically play em in general trend direction but when I get bored, I still hammer in the counters. I can do this by me defining Long on the M1 and Short on the M5 by price close in relation to moving averages. Can Also use a variety of indicators to define the same, really just depends on my mood, trade pair and current market range.

May not always know when to take a trade, but I know when it is a better idea to sit on my hands.

Personally, I still plot the S/D zones on the longer TFs and use Hourly to daily candles to do this. Doing this, I can be dead on balls as to where the price is got to stop and turn, problem is, market runs on it's own clock. I know where the train is heading, I just don't know what time it will be boarding.

There is no absolute right way to trade. If there was, it would be an absolute collapse of the markets.

Under your own description, if we all took trades in the same spot, market would get so tight it would be near impossible to actually prosper off of the movements. Greed would be such that trying to earn fractions of pips would create these L2 bid/ask stack walls that it would be a total grid lock.

On a tick chart, it'd prolly look a lot like this:

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Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #838,806
  • Sep 29, 2013 10:38pm Sep 29, 2013 10:38pm
Looking like traders are wanting to fill this novice gap before doing anything else. Expect this thing to drop after though, although maybe not in a big move.
  • #838,807
  • Sep 29, 2013 10:41pm Sep 29, 2013 10:41pm
I am going for a smoke. Some one please enter a short for me when it touches 1.3511 with sl at 1.3515
The Thief of Wall Street
  • #838,808
  • Sep 29, 2013 10:43pm Sep 29, 2013 10:43pm
Where can i see L2 order book free ??? or demo ??
  • #838,809
  • Sep 29, 2013 10:45pm Sep 29, 2013 10:45pm
later Asia, 3504 is a R +-.. 3512 still important too
those who can, do. those who cant, talk about those who can
  • #838,810
  • Sep 29, 2013 10:45pm Sep 29, 2013 10:45pm
Quoting Magix
{quote} Early days of my forex trading, I worked using L2. There are certain broker feeds that show where the orders are and the bid/ask stacks. It shows where there are walls of support and resistance by the number of pending orders. Kinda goes along with the logic in forex, when the question is asked, why did price go up? and the Answer that follows, is that there is more buyers than sellers... Seeing these walls of sellers can show you clearly on L2 stacks where resistance is. Profit takers will dump for reload. Anyways, that is pretty much what...
I know what you're doing with M1 and M5 description.... Just be careful, you'll get hammered by the anti hedging orthodox traders here (that, in case you hang onto your M5 and short the M1, or vice versa).. and yeah, of course it would all be flat lined.. who would take the other side of your trade? I agree with you, I tend to like it the way it is... That was not really what I was saying though.

Let's get back to the indis .. Here's my problem with them... You mentioned the fractal nature of them, if I've got that right.. I disagree.. If that was the case, then we could trade each and every TF in a vacuum.. The market is asymmetric, and not only we don't know on what TF we should trade right now (you kind of figure it out with experience, but that's not the point here), it gets a little more complicated if we think about it.. one daily candle for instance can be built in so many different ways, that makes fractals (indicators' or price) not usable in any meaningful way..
  • #838,811
  • Sep 29, 2013 10:57pm Sep 29, 2013 10:57pm
Quoting gatorinla
later Asia, 3504 is a R +-.. 3512 still important too
i have 3532/6 as a target now
  • #838,812
  • Sep 29, 2013 10:59pm Sep 29, 2013 10:59pm
Quoting Magix
{quote} Early days of my forex trading, I worked using L2. There are certain broker feeds that show where the orders are and the bid/ask stacks. It shows where there are walls of support and resistance by the number of pending orders. Kinda goes along with the logic in forex, when the question is asked, why did price go up? and the Answer that follows, is that there is more buyers than sellers... Seeing these walls of sellers can show you clearly on L2 stacks where resistance is. Profit takers will dump for reload. Anyways, that is pretty much what...
What is the order book for eurusd right now??? L2 stack
  • #838,813
  • Sep 29, 2013 11:04pm Sep 29, 2013 11:04pm
Quoting kibrul
{quote} What is the order book for eurusd right now??? L2 stack
You do realize the order book is the banks upmost secret.. They don't even share them among themselves.. If I knew that, I would be a gazilionare.. That doesn't mean it's impossible to kind of figure it out.

They can for instance have a huge order, but what they do, they piece meal it into the market at different times so they don't tip their hand to the other sharks. That is something only that particular institution knows about.. And there's many of them playing the same game.. Don't confuse the limit orders, L2, whatever you want to call that with the order book..
  • #838,814
  • Sep 29, 2013 11:07pm Sep 29, 2013 11:07pm
Quoting attila
{quote} I know what you're doing with M1 and M5 description.... Just be careful, you'll get hammered by the anti hedging orthodox traders here (that, in case you hang onto your M5 and short the M1, or vice versa).. and yeah, of course it would all be flat lined.. who would take the other side of your trade? I agree with you, I tend to like it the way it is... That was not really what I was saying though. Let's get back to the indis .. Here's my problem with them... You mentioned the fractal nature of them, if I've got that right.. I disagree.. If...
Not really...

Check it...

This is just an example of Moving Averages, 1 specifically, DTEMA, 288 M5 chart. 1440 minutes in a day, M5, makes it the 288.
So, we can say if price is above the DTEMA, we can assume long chart, if price below, short chart. Cuz, it is specifically based on the daily chart.
(chart 1)
The second chart, M1 chart.
Using the MACD or for simplicity sakes, the OSMA, we can look at price in relation to support, or hourly open and see how this indicator can be used for triggering. OSMA is the trigger line on the MACD.

Anyways, it's like this, if price is above the hourly open and OSMA is below zero and OSMA comes back above zero, and price is still above the hourly open, we can look for a long trigger. Wow, shit...that was easy.

You are looking to a tick chart, when the same areas are simply defined by the price at the open of an hour.

Really ya can do the same using an M5 to H4 or Hourly to daily...

Where people typically shit the sheets is that they get reliant on a single indicator and not take it into relation to the immediate trend. IE, if we sold every time the OSMA went below zero, we would have a buttload of bad trades.

Why? We are playing against the trend.

Really, look at every trade system in FF. They are all pretty much the same. They work for a while and then then stop working and then the thread goes dead. Change the trend and what worked yesterday, ain't gunna work as much today.

These are the fractals, you just have to see them in their essence to be able to appreciate them.

But, as far as I am concerned, as long as you are packing yer back hipster with a few shekkles from market, it's all good. Destination will always be profit, what you wear on your feet to get there is unimportant.

Currently, we are short on the M5, long on the M1.
(the trade you see is a trigger from a new bot I am testing out this week)

Attached Image(s) (click to enlarge)
Click to Enlarge Name: M5.png Size: 20 KB
Click to Enlarge Name: M1.png Size: 38 KB
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #838,815
  • Sep 29, 2013 11:14pm Sep 29, 2013 11:14pm
looking to see if we do have some of the bulls wanting a 3489 bounce, to to get over 3504
those who can, do. those who cant, talk about those who can
  • #838,816
  • Sep 29, 2013 11:20pm Sep 29, 2013 11:20pm
Quoting gatorinla
looking to see if we do have some of the bulls wanting a 3489 bounce, to to get over 3504
Unlikely. E/J on the move and U/J a bit stall

What was your level to get in E/A short? 1.45x or test of 1.5xx
  • #838,817
  • Sep 29, 2013 11:22pm Sep 29, 2013 11:22pm
Quoting Ken A
{quote} Unlikely. E/J on the move and U/J a bit stall What was your level to get in E/A short? 1.45x or test of 1.5xx

5098 or more
those who can, do. those who cant, talk about those who can
  • #838,818
  • Sep 29, 2013 11:29pm Sep 29, 2013 11:29pm
Quoting Magix
{quote}This is just an example of Moving Averages, 1 specifically, DTEMA, 288 M5 chart. 1440 minutes in a day, M5, makes it the 288.
I know little about DTMA, but for an EMA... eh, I don't know.. The assumption is you have 288 M5s in a day, but the EMA gives more weight to the most recent candles. But again, I don't know how DTMA calculates things..

The trend.. yes.. that's the real curve ball into all these.. Theoretically, if you go with the trend you'll only be wrong twice, but then there are pull backs, and the question where to bail, things like that.. I mostly scalp, exactly because of that.. Some make it sound way too easy.. Go with the trend and you'll do just fine... I disagree again.. Not that simple.. I absolutely love to counter trend.. I like bounces a lot (not when I'm in a trade, LOL).. Why.. if i'm wrong they give me enough time to get out. If they turn into something else even better, but I'll still go flat at the end of the day if all possible... Then you've got the bias when it comes to trend trading.. I'm good, my trade is doing just fine, and then the profit goes half, and so on.. You can lose all your work when it turns, or while it turns and it's doing its dance at the top...You know what I mean..
  • #838,819
  • Sep 29, 2013 11:36pm Sep 29, 2013 11:36pm
Quoting attila
{quote} I know little about DTMA, but for an EMA... eh, I don't know.. The assumption is you have 288 M5s in a day, but the EMA gives more weight to the most recent candles. But again, I don't know how DTMA calculates things.. The trend.. yes.. that's the real curve ball into all these.. Theoretically, if you go with the trend you'll only be wrong twice, but then there are pull backs, and the question where to bail, things like that.. I mostly scalp, exactly because of that.. Some make it sound way too easy.. Go with the trend and you'll do just...
I hear ya, brother...

A lot of what I like to play is based on price returning to supply/demand zones because when they break, the profit is a lot greater.

And not to really take anything away from tick trading, really, I have tried that and just don't get it, but look at price reaction on the DTEMA.

Whilst others could be holding for El Gappo Fillo...I am looking at it going, I ain't buying into this shit!

Reactionary.

Like I said before, as long as ya prosper, who really gives a shit how ya do it?
Attached Image (click to enlarge)
Click to Enlarge Name: M51.png Size: 27 KB
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #838,820
  • Sep 29, 2013 11:37pm Sep 29, 2013 11:37pm
Now do me a favor.. In this range we've been in since the bernake bar (sic), take the London and NY sessions ranges (the stock exchanges times), compare them and see if they tell you anything...
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