Trade the facts, not opinions.
Price Action in Day Trading by Dadas
- #4,284
- Edited 10:36am Dec 31, 2015 10:13am | Edited 10:36am
- | Commercial User | Joined Sep 2012 | 3,282 Posts
{quote} Hello Dadas. Trying to follow your way of thinkingIf price change is the only single thing to make money, You dont need to know direction of the price ?? Thanks a lot.
Your system must tell you that.
Your job is only to open 1 trade at specifically defined conditions and take your defined pips.
You must make your conditions realistic, not wishful!
So, you must count on less, not more.
Everybody around is telling you that trading is some kind of lottery.
They tell you to analyze and predict.
They make the impression that you or they can know something more.
The truth is, nobody ever knows the future, even if "I told you price would go there!".
What we can know is what we can see, ie. statistics - the chart is statistics = historical data.
We can calculate what is average (ATR, ADR), and we can set the system to expect ie. 1/3 or 1/2 of
average = make ourselves realistic expectations.
Thus, we take control over our trading leaving very little to the market.
Everything is there: direction, my trade price, my max TP, my SL.
I must only make that 1 trade per day given the market offers me the opportunity.
Trade the facts, not opinions.
Thanks Dadas.
I thought u doing some kind of voodoo thing after reading couple your posts
but now I see You doing the same thing what Mark Dauglas taught in his book .
1. Mindset : Market is random, you can't predict price,
2. But you can have an edge like casino have.
3. You have to execute your system without emotion, expectation , prediction. Like a robot
My question is what is your edge. You said ATR, ADR. But your system have to give you entry and exit which have to be based in technical analisys.
I thought u doing some kind of voodoo thing after reading couple your posts
but now I see You doing the same thing what Mark Dauglas taught in his book .
1. Mindset : Market is random, you can't predict price,
2. But you can have an edge like casino have.
3. You have to execute your system without emotion, expectation , prediction. Like a robot
My question is what is your edge. You said ATR, ADR. But your system have to give you entry and exit which have to be based in technical analisys.
- #4,286
- Jan 3, 2016 5:23pm Jan 3, 2016 5:23pm
- | Commercial User | Joined Sep 2012 | 3,282 Posts
Thanks Dadas. I thought u doing some kind of voodoo thing after reading couple your posts
My edge is that I set the rules of my trading.
I study the instrument and look what is average.
Then, I set up the Range Bar Chart to expect only 0.6 of the average.
I don't fantasize about anything, and I don't care if price goes 100 or 200 pips.
I just need to make what I know is very realistic.
Like I said, it's all there on my screenshot.
My entry price level, my SL and my max TP.
It's all there for you to see.
How it all works together, that's another issue.
Trade the facts, not opinions.
![Click to Enlarge
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{quote} I know it's difficult to get rid of the old way of thinking you have been thought. My edge is that I set the rules of my trading. I study the instrument and look what is average. Then, I set up the Range Bar Chart to expect only 0.6 of the average. I don't fantasize about anything, and I don't care if price goes 100 or 200 pips. I just need to make what I know is very realistic. Like I said, it's all there on my screenshot. My entry price level, my SL and my max TP. It's all there for you to see. How it all works together, that's another...
. Good Luck.
- #4,289
- Jan 4, 2016 12:38pm Jan 4, 2016 12:38pm
- | Commercial User | Joined Sep 2012 | 3,282 Posts
What kind of indicator is this to have other currencies on the same chart on the right? {image}
Trade the facts, not opinions.
- #4,291
- Jan 5, 2016 9:17am Jan 5, 2016 9:17am
- | Commercial User | Joined Sep 2012 | 3,282 Posts
Trade the facts, not opinions.
- #4,293
- Jan 5, 2016 9:33am Jan 5, 2016 9:33am
- | Commercial User | Joined Sep 2012 | 3,282 Posts
Trade the facts, not opinions.
- #4,295
- Jan 5, 2016 9:49am Jan 5, 2016 9:49am
- | Commercial User | Joined Sep 2012 | 3,282 Posts
{quote} Yes the font appears to be Verdana. I have it but still not working.
Trade the facts, not opinions.
- #4,297
- Jan 5, 2016 2:37pm Jan 5, 2016 2:37pm
- | Commercial User | Joined Sep 2012 | 3,282 Posts
Trade the facts, not opinions.
- #4,298
- Jan 17, 2016 2:50pm Jan 17, 2016 2:50pm
- | Commercial User | Joined Sep 2012 | 3,282 Posts
Don't know if it's voodoo, but it's certainly "magic"!
Trade the facts, not opinions.
- #4,300
- Edited 5:45pm Feb 15, 2016 2:47pm | Edited 5:45pm
- | Commercial User | Joined Sep 2012 | 3,282 Posts
Trade the facts, not opinions.