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Davit's Confluence Trading

  • #1,361
  • Jun 17, 2014 9:47am Jun 17, 2014 9:47am
Quoting gjgjg
{quote} Good job, just managed to get jump ship too with my GCHF trades when it hit land this morning after the news Nicely done on the Auz trades too!
keep adding those pips
In trading, you have to be defensive and aggressive at the same time
  • #1,362
  • Edited 10:10am Jun 17, 2014 9:51am | Edited 10:10am
Quoting azfarjaved
Dear Davit, You grabbed great pips with nice management. I appreciate it and i learnt too as well. Keep it up.
trade small and build the account
Its a marathons not a sprint.If you keep your orders small you'll survive the test of time.Average retail trader fails in 9months-1yr.
If you can survive that you got a good shot of making it.
Regards
In trading, you have to be defensive and aggressive at the same time
  • #1,363
  • Edited 10:05am Jun 17, 2014 9:55am | Edited 10:05am
Short G/CHF 2x at 5262
Price got rejected at exactly 618fib
To me PA is showing exhaustion
Average 20day ADR 63 we got 58 now.Pretty much move of the bulls are done
Just want to add I pay very little attention to trend lines.I don't even draw them.I just don't think in those terms.
Inserted Video

Understanding the Limitations of Technical Analysis
Worth listening from 25yrs trading experience trader
Attached Image (click to enlarge)
Click to Enlarge Name: gbpchf.m30.png Size: 40 KB
In trading, you have to be defensive and aggressive at the same time
  • #1,364
  • Jun 17, 2014 10:14am Jun 17, 2014 10:14am
Love this part
Attached Image
In trading, you have to be defensive and aggressive at the same time
  • #1,365
  • Jun 17, 2014 10:32am Jun 17, 2014 10:32am
at 26 min mark on love that as well
100% of losers use TA
Professionals use it to understand where the losers stops are...and trade against him 26:56
These are his thoughts which I find fascinating

at 29:28 so the winner must be doing something different then the loser
In trading, you have to be defensive and aggressive at the same time
  • #1,366
  • Jun 17, 2014 10:40am Jun 17, 2014 10:40am
Quoting Davit
Love this part {image}
I disagree completely with this actually. The base of any "proper" TA is support and resistance. Otherwise known as Supply and Demand. This does recognize that for every buyer there's a seller and visa versa??

If this were true, then why do you bother to use BB's, RSI and fibs? In fact, why use a chart at all?

It's such a shame that those who rely more or only on fundamentals have such a closed minded view of those that use TA alone. I'm a TA trader. But I still have an open mind for the fundamentalist. I still think a balance of both is best. But to make such an uneducated statement as that is just narrow minded.
I wonder what HDA would think of whoever wrote that?

Oh well, to each their own. In time, all minds learn to expand some....hopefully. Perhaps the chap who wrote that will as well.
Ghost Rider - WWTBMD?
  • #1,367
  • Jun 17, 2014 10:49am Jun 17, 2014 10:49am
Quoting albchr
{quote} I disagree completely with this actually. The base of any "proper" TA is support and resistance. Otherwise known as Supply and Demand. This does recognize that for every buyer there's a seller and visa versa?? If this were true, then why do you bother to use BB's, RSI and fibs? In fact, why use a chart at all? It's such a shame that those who rely more or only on fundamentals have such a closed minded view of those that use TA alone. I'm a TA trader. But I still have an open mind for the fundamentalist. I still think a balance of both is...
Hi Chris
I think he is pointing at something more profound.Market structure is based on order flow.Yes I use TA and you do as well.I am sure Jason does as well but he uses differently same way Mr Pip uses differently..
In its heart he is emphasizing relying TL S/R for high probability trades is an illusion.
There are many system threads on S/R and journals and ironically these guys have red accounts or very little profit.Why is that if it is that obvious.That's what Jason is talking about.
He is subtle in a way.Its a game of cat and the mouse.Those that hunt and those who fall prey.Prey uses something that most losers use...The winner is clearly thinking different
In trading, you have to be defensive and aggressive at the same time
  • #1,368
  • Jun 17, 2014 11:04am Jun 17, 2014 11:04am
Quoting Davit
{quote} Hi Chris I think he is pointing at something more profound.Market structure is based on order flow.Yes I use TA and you do as well.I am sure Jason does as well but he uses differently same way Mr Pip uses differently.. In its heart he is emphasizing relying TL S/R for high probability trades is an illusion. There are many system threads on S/R and journals and ironically these guys have red accounts or very little profit.Why is that if it is that obvious.That's what Jason is talking about. He is subtle in a way.Its a game of cat and the...
Well if he's talking about "only" TL S/R, then that is not TA in it's entirety. It's only a small fraction of it and I would agree of all other TA techniques, it's among the weakest. However when used properly, still a very good tool in the TA toolbox. At least, it is for me.

If that's all he's talking about and calling it alone TA? I would ask, More profound? Or more limited in mind? Something to consider I would think.

Basing the validity of one's claims on the many SR threads here and the results of the traders in them as evidence of its accuracy is, at best, a big mistake in my humble opinion.
Ghost Rider - WWTBMD?
  • #1,369
  • Jun 17, 2014 11:13am Jun 17, 2014 11:13am
Quoting albchr
{quote} Well if he's talking about "only" TL S/R, then that is not TA in it's entirety. It's only a small fraction of it and I would agree of all other TA techniques, it's among the weakest. However when used properly, still a very good tool in the TA toolbox. At least, it is for me. If that's all he's talking about and calling it alone TA? I would ask, More profound? Or more limited in mind? Something to consider I would think. Basing the validity of one's claims on the many SR threads here and the results of the traders in them as evidence of...
Did you listen all the presentation? It seems you jumped the gun to quick
In trading, you have to be defensive and aggressive at the same time
  • #1,370
  • Jun 17, 2014 11:21am Jun 17, 2014 11:21am
Quoting Davit
{quote} Did you listen all the presentation? It seems you jumped the gun to quick
No I didn't Davit. I was only responding to the post that contained the rather broad statement about TA not recognizing buyers and sellers and thus, not being able to accurately predict where price movements will occur. The one you said you "loved this part" about.

I don't have time during the trading day to watch something over an hour long. But in all honesty, with a statement like that, I'm not sure I'd make time either.
Ghost Rider - WWTBMD?
  • #1,371
  • Jun 17, 2014 12:08pm Jun 17, 2014 12:08pm
Quoting albchr
{quote} I disagree completely with this actually. The base of any "proper" TA is support and resistance. Otherwise known as Supply and Demand. This does recognize that for every buyer there's a seller and visa versa?? If this were true, then why do you bother to use BB's, RSI and fibs? In fact, why use a chart at all? It's such a shame that those who rely more or only on fundamentals have such a closed minded view of those that use TA alone. I'm a TA trader. But I still have an open mind for the fundamentalist. I still think a balance of both is...
  • #1,372
  • Jun 17, 2014 12:36pm Jun 17, 2014 12:36pm
FOMC tomorrow ... the question is, if you want to have a position during that crazy times ... decisions, decisions.
Fix up, trade sharp ...
  • #1,373
  • Jun 17, 2014 1:54pm Jun 17, 2014 1:54pm
Quoting Davit
{quote} Squawk Thanks for your insights.I appreciate it.Personally I don't place big importance on divergence but when it fits with my bias then its just another confluence but by itself I don't trade it. regards
No problem Davit. I pay no attention to divergence at all but I think it's important sometimes for people to understand why something happens if someone is trading it.

All the best.
  • #1,374
  • Jun 17, 2014 10:40pm Jun 17, 2014 10:40pm
Eric Fischl
http://www.escapeintolife.com/wp-con..._003_large.jpg
In trading, you have to be defensive and aggressive at the same time
  • #1,375
  • Jun 17, 2014 11:19pm Jun 17, 2014 11:19pm
Quoting Davit
Eric Fischl {image}
He never really became totally appreciated for his art - but then surely one has to believe that his style will be sought after in generations to come - sure a hamptons brother now - but growing up in Arizona with a family of boozers might of inspired him to create .. nice even dinero has a few Tribeca boy is roberto ;-) .. nice one
  • #1,376
  • Jun 17, 2014 11:27pm Jun 17, 2014 11:27pm
Quoting DerekTrotter
{quote} He never really became totally appreciated for his art - but then surely one has to believe that his style will be sought after in generations to come - sure a hamptons brother now - but growing up in Arizona with a family of boozers might of inspired him to create .. nice even dinero has a few Tribeca boy is roberto ;-) .. nice one
Thanks for showing interest in Art.
Yes he is slightly unappreciated but his best works I can't post here.
regards
In trading, you have to be defensive and aggressive at the same time
  • #1,377
  • Jun 17, 2014 11:46pm Jun 17, 2014 11:46pm
added 4 more shorts at 5263 G/CHF
Total 6 orders
In trading, you have to be defensive and aggressive at the same time
  • #1,378
  • Jun 17, 2014 11:48pm Jun 17, 2014 11:48pm
Quoting Hickson
FOMC tomorrow ... the question is, if you want to have a position during that crazy times ... decisions, decisions.
I am leaving all my positions open.If anything I expect positive spin by the Feds
Why would they admit their printing money doesn't do shit to economy.Its like admitting defeat.
There is something called global economical cycle which nobody can control.
In trading, you have to be defensive and aggressive at the same time
  • #1,379
  • Jun 18, 2014 12:00am Jun 18, 2014 12:00am
Quoting Davit
{quote} I am leaving all my positions open.If anything I expect positive spin by the Feds Why would they admit their printing money doesn't do shit to economy.Its like admitting defeat. There is something called global economical cycle which nobody can control.
... Good morning Davit

Actually it does do shit to the economy. Or at least I sure feel like our economy has been thrown in the crapper....lol
Ghost Rider - WWTBMD?
  • #1,380
  • Edited 12:28am Jun 18, 2014 12:12am | Edited 12:28am
Quoting albchr
{quote} ... Good morning Davit Actually it does do shit to the economy. Or at least I sure feel like our economy has been thrown in the crapper....lol
we sure need a republican conservative president with a vision
Some thoughts how stupid US foreign policy has been

After killing thousands of "collateral damage"
Wasting trillions on Iraq.Now we created bigger mess that is worst then Saddam Husein regime.
Question American tax payer should ask "what did we achieve in middle east last 10years."
Those trillions wasted on wars in middle East could of helped this country building bridges,schools helping bankrupted cities like Detroit and many others.
Its sad which reminds me of Roman Empire collapse.Why did it collapse? Extended far beyond its capacity.
We have seriously no business trying to be a world police.That is cold war,pentagon mentality which has its own self interests mainly continued production of weapon industries.

Speaking of global economies I am in firm belief no economy is doing well.
UK miracle BS is Carney's spin (former Goldman Sachs guy)
UK biggest trading partner is EZ and they are in a serious slump 12% unemployment and in some countries up to 30%
This is why I don't buy the whole Carney's optimism.
In trading, you have to be defensive and aggressive at the same time
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