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The Fundamentals of Trading

  • #341
  • Apr 15, 2016 7:42am Apr 15, 2016 7:42am
i spoke a little bit earlier about correlations and you can never trade a correlation IMO, but you do need to be aware of them and what else is going on, all week the NYSE has been limping higher except for one day this week, this is a big reason that the USD is selling off. Central bank giving accomodative signals to the share markets means higher share prices and weaker USD. Its also the start of earnings season and the market has been going higher and pricing in a bad result sell off.

For the first time this week it looks like the NYSE is going to have a sell off today and USD immediately starts to strengthen and reach intraday levels right near the NYSE open, coincidence maybe it is, but it does remind you that all markets to a degree are linked. As the money that travels through them normally all comes from the same sources.

Just something to be aware of that outside influences can and will have impacts on your business.

Simon
99% of Traders fail, so don't follow the herd
  • #342
  • Apr 15, 2016 8:09am Apr 15, 2016 8:09am
Quoting SuperP
Hello guys, I've spotted a resistance zone at the USD/JPY chart in 5th october 2014: {image} The 1Hour chart confirms my thought: {image} But I think price is going to reach the level around 111.34. {image} Master Simon, what do You think? Am I on the right way? SuperP
Your video answer

Inserted Video


Simon
99% of Traders fail, so don't follow the herd
  • #343
  • Apr 15, 2016 8:21am Apr 15, 2016 8:21am
Quoting sweetaction
{quote} Your video answer https://www.youtube.com/watch?v=1EcI...ature=youtu.be Simon
Thank You!
  • #344
  • Apr 15, 2016 12:50pm Apr 15, 2016 12:50pm
Quoting sweetaction
Part One Hello All My name is Simon and I am going to share with you a wealth of information I have gleaned over the years I have traded. I joined this forum back in 2008 mainly for a free news service, and wasn't really all that interested in using the forums. Its time in my evolution as a trader to really share and try and make the process of FX trading easier for those less skilled and experienced. Some information about me I have been trading in a diverse range of markets including FX for about 30 years now, when[/highlight]...

Hi Simon;

I don't want to rain on your parade but something smells Post 1 ,from July 2008, when you where a "newbie" Trader who didn't know what Long and Short referred to.

Why do you find it necessary to exaggerate your Trading experience?

Are you absolutely sure you Trade professionally?

Like I said I don't want to rain on your parade but at the same time I don't like Traders who try to deceive me and others.

It's a shame because you have obviously gained some Market knowledge.
  • #345
  • Apr 15, 2016 2:33pm Apr 15, 2016 2:33pm
Quoting stevepatt
{quote} Why do you find it necessary to exaggerate your Trading experience? ...I don't like Traders who try to deceive me and others. It's a shame ....
Quoting sweetaction
Hi Guys As a relatively new live trader - 6 weeks or so (been demo for around 6 months) I am really wanting to learn as much as possible as to how to construct really good charts and plot proper support and resistance. So far I have been using the longer time frames and mainly using trendlines and i have had some success but most of the guys on here seem fairly competent with it. Can any of the more seasoned traders suggest a place I can go on the web or even on this forum where I can learner the finer points of...
Quoting sweetaction
I joined this forum back in 2008 mainly for a free news service, and wasn't really all that interested in using the forums. Some information about me I have been trading in a diverse range of markets including FX for about 30 years now, when I started we used to look at End of day charts for the stock market, so a long time and the world has definitely changed some in that time. I have been seriously trading FX for approximately 12 years now so I would say I am reasonably proficient at...
..... In 2008 a relatively new live trader - 6 weeks or so (been demo for around 6 months).... and then suddenly in 2016...been trading in a diverse range of markets including FX for about 30 years now! ...
  • #346
  • Apr 15, 2016 4:48pm Apr 15, 2016 4:48pm
Quoting stevepatt
{quote} Hi Simon; I don't want to rain on your parade but something smells Post 1 ,from July 2008, when you where a "newbie" Trader who didn't know what Long and Short referred to. Why do you find it necessary to exaggerate your Trading experience? Are you absolutely sure you Trade professionally? Like I said I don't want to rain on your parade but at the same time I don't like Traders who try to deceive me and others. It's a shame because you have obviously gained some Market knowledge....
Finally, thank you somebody does what I have been saying and questions everything. Yep as I said joined this forum back in 2008 as a free news service. I pretended absolutely to be a newbie for quite some time on here, and the reason I did this was so I could was to see if I could learn something from the others on here. Think about it if I really didn't want you to discover my posts on here I would of created a new account before starting this thread.

Let me ask you this: If you know you are the smartest guy in the room, who the hell is going to tell you anything about them or what they do, as its human nature to think, there is no point conveying anything about me he probably already knows this, people will assume this all the time.

At the end of the day I came back here to share what I have learned over a life time of doing this in different markets, yes I lied I had too to try and see if i could really learn something, I am not ashamed to admit I have played down my experience before in other areas of my business life to get an advantage, this is just how the world works.

People will make judgements about me and quite frankly I couldn't care less its not personal its just business. I only care about running my business. I am happy to share what I have learned with others that want to learn.

Well done on researching my posts at least now we are getting somewhere.

Simon
99% of Traders fail, so don't follow the herd
  • #347
  • Apr 16, 2016 4:16am Apr 16, 2016 4:16am
Quoting sweetaction
{quote}Think about it if I really didn't want you to discover my posts on here I would of created a new account before starting this thread. If you know you are the smartest guy in the room, who the hell is going to tell you anything about them or what they do, as its human nature to think, there is no point conveying anything about me he probably already knows this, people will assume this all the time. yes I lied I had too to try and see if i could really learn something...
Hi Simon;

The first point, I have highlighted, would have got you banned from FF.

The second point, I have highlighted, comes across as very arrogant.

There are guys and girls within FF who are a lot smarter than you are, within the world of Trading, here's one of your fellow country men http://www.forexfactory.com/skfx who has a real depth of Market knowledge that goes well beyond anything you have discussed. I'm sure he's been able, like me, to learn a great deal from other Traders, of all abilities, without lying about his own Trading ability to do this.

The third point, I have highlighted, shows a flaw in your character.

Again it comes across as very arrogant to assume that you have to lie about your own Trading ability in order for others to give you their opinion.
I see since your return to FF on April 5th 2016 you have had no issue with telling everyone about your status as a Professional Trader Post 6 / Post 44 / Post 10

I see you started your Blog in 2016 and have 30 followers wasn't this a big enough audience for you? I think you came here to bolster your ego and gain more of a following, and to do this you have embellished your Trading capabilities.

I admit, I might be totally wrong about you and you are a perfectly nice guy and the genuine article but you haven't got off to a very good start.
  • #348
  • Apr 16, 2016 5:08am Apr 16, 2016 5:08am
I am going to address this one last time and then I am not wasting anymore energy on this .

You see arrogance I see supreme confidence in my own ability. I dont know anybody that's self made that isn't "arrogant" as you put it. I have been in so many negotiations in my life that I never ever boast about my ability out loud and also I don't ever disclose my motivation to people I may be competing with at least initially.

I would rather my opposition believe I am a nobody, this gives you an advantage, you may not like it, you may not think it is fair or some character flaw but thats life you get used to it or you get crushed. You think I am the only guy in this forum that hasn't acted the way I have, cmon really.

You have challenged my statement that I am a professional this fails to mention that I have built and own two other businesses which I have mentioned on numerous times, so in isoltaion you can pick out any post you like and challenge me on any statement but I never said I was only a professional FX trader.

Once again I have no issue with people liking me. I have no motivation to build my blog audience as you have incinuated. I could not care what you think of me, I started this to share if you dont like me or the content then don't read it or watch it I am not forcing you.

If people dont like my attitude or somehow think I am flawed then I am happy to stop putting content up if all I am going to get is this. As I say i dont need this I am doing it because it would of been way helpful to me years ago and perhaps people might learn something, its not going to change my life with or without FF thread.

Simon
99% of Traders fail, so don't follow the herd
  • #349
  • Apr 16, 2016 11:34am Apr 16, 2016 11:34am
Quoting sweetaction
I am going to address this one last time and then I am not wasting anymore energy on this . You see arrogance I see supreme confidence in my own ability. I dont know anybody that's self made that isn't "arrogant" as you put it. I have been in so many negotiations in my life that I never ever boast about my ability out loud and also I don't ever disclose my motivation to people I may be competing with at least initially. I would rather my opposition believe I am a nobody, this gives you an advantage, you may not like it, you may not think it is fair...
Hello Simon
All I care about is the value of what you are putting out here and I must say your posts are invaluable. I have really gained a lot from them, keep up the good job.
  • #350
  • Apr 16, 2016 11:49am Apr 16, 2016 11:49am
Sweetaction, Thanks for your time and efforts in sharing your knowledge to date. My eyes have finally opened up to the fundamentals of price action. I have gained a a bit of knowledge over the years on the sub fundamentals but can see the need for patience when paying mind to the charts as a whole by compressing chart enough to see historic touched levels, this is when those sub fundamental price action comes into play, for example reactions at certain levels. At this point i have only read 4 of your pages and will continue to read i feel this is the best approach to forex for me.

many thanks
  • #351
  • Apr 16, 2016 12:58pm Apr 16, 2016 12:58pm
Quoting sweetaction
I am going to address this one last time and then I am not wasting anymore energy on this..........................Simon
=============================================================
Hi Sweetaction,
Please do not pay attention to negative comments. As you very well know the big players and brokers do not like when someone knowledgeable like you enlightens the newbies. We are learning a lot from you, so please keep up the good work. You are reaping great thanks!
  • #352
  • Apr 16, 2016 1:45pm Apr 16, 2016 1:45pm
Hi Simon,


You have stated several times in your videos that there are "more sellers than buyers" or "more buyers than sellers" - there is no such thing as more sellers than buyers, or more buyers than sellers. In order for price to transact at any point, a seller and buyer must be matched, period. In order for price to move from one point to the next, one side must show demand and step up and aggressively hit the bid/offer, moving through all the available liquidity at that price point, until all orders are gone and then move on to the next price point. I would have thought a pro trader for 30 years would have known this. If you are going to take it upon yourself to teach others, then please make sure that what you are teaching is correct.
  • #353
  • Apr 16, 2016 2:35pm Apr 16, 2016 2:35pm
It's always good to know that there are still people willing to help others. You seem to be one of them, and I would like to congratulate you for this attitude.

I've read the whole thread and I really enjoyed your methods and thoughts.

In your opinion, would Swing Trade be the only way to make constant profits, with "low risk/high probability"? Do you know any scalper and/or intraday successful trader?

I love PA and naked charts, however I always used shorter periods like M5, M15 and M30. That is why I am asking this question.

Sorry if my question is out of place, but I would like to know your opinion on this. Not that opinion about labeled traders, please
  • #354
  • Edited 5:06pm Apr 16, 2016 3:00pm | Edited 5:06pm
I have read 7 pages of your thread so far and find it very interesting and insightful, thank you again for your efforts. I expect my analysis to be completely wrong but with feed back hope to gain a better understanding and awareness of levels on the charts as well as reactions to those levels.



I have 3 images below CHF/JPY. Currently at 112.30.

There are 2 scenarios on the chart that i would like to present with my limited understanding.
1) A clear run to 111.90 as there is no slippage previous. looking for a long position at that point targeting 112.70 first point of call onto 113.76 as a retest of that level.
2) Or a quick retest of 112.70 looking for a short opportunity down to 111.90.
If it bounces off the 112.30 weakishly, say to the 112.43 or weaker , then could i expect a continuation push to 111.90 looking for a long at that point targeting 113.76 pit stop 112.70.
All of course based on what type of reaction happens at those levels.


Many thanks for your guidance.
Attached Image(s) (click to enlarge)
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  • #355
  • Apr 16, 2016 3:00pm Apr 16, 2016 3:00pm
Very informative posts thanks for the time and effort youve put in
  • #356
  • Apr 17, 2016 3:27am Apr 17, 2016 3:27am
I started this journal for no other reason than to help young traders avoid some of the pitfalls that happen. If you have read this thread you will know that I hate the trading textbooks, so many of my theories are very unconvential. To this end the following is the way I understand price, its how I have understood market forces since I opened my first business:

1. If their are more buyers for a product than sellers then price gets more expensive
2. If there are more sellers of a product than buyers then price will be lower.

This is the laws of supply and demand in the commercial world. This may not be the technical description for it in trading, but I don't care this is how my brain interprets it. It may not be what the textbook says but again I don't care. I only care about processing it in a way that my brain understands.

Now that we have that cleared up, let me also say that I am a very unconvetial thinker so if you are reading this thread for some perfect explanation of every market move then you will be sorely dissapointed.

I call it exactly as I see it, if buying is weak at a level then I am saying to myself there will be more selling and vice versa thats as complicated as i want my brain to get with it.

I also want to say something here so we are clear - my mum (who is really old school) always says that if you have nothing nice to say then say nothing at all. You might think I am not a perfect human and I am the first too admit I have tons of faults, but this thread is not meant to be a popularity contest, I am conveying what I have learnt over my time, if people don't want this or constantly want to attack me then I am going to stop contributing. If you don't like me then don't contribute unsubscribe yourself and move along.

Simon
99% of Traders fail, so don't follow the herd
  • #357
  • Apr 17, 2016 3:56am Apr 17, 2016 3:56am
Quoting littlehelper
I have read 7 pages of your thread so far and find it very interesting and insightful, thank you again for your efforts. I expect my analysis to be completely wrong but with feed back hope to gain a better understanding and awareness of levels on the charts as well as reactions to those levels. I have 3 images below CHF/JPY. Currently at 112.30. There are 2 scenarios on the chart that i would like to present with my limited understanding. 1) A clear run to 111.90 as there is no slippage previous. looking for a long position at that point targeting...
This is what I have for Chfjpy

I think that this pair will at least see 111.90 and then 111.23 on the downside this second level dates back to 16 Oct 2014. I would think this is the short term target. The dead give away as I see it is the fact that it spent all last week unable to rally at all, this indicates to me that while we might bounce around intraday it will make a run towards 111.23. On the top side I tend to agree with you we could see a run towards 11280-11300 is possible for a short. The only problem with getting in here is that big falls often cause big short squeezes so it can snap back hard and ignore many selling levels on the way back. As always I would watch for price around those levels and see what the reactions are like to see where the opportunities might be.

Simon
99% of Traders fail, so don't follow the herd
  • #358
  • Apr 17, 2016 4:04am Apr 17, 2016 4:04am
Quoting Mr. Madruga
It's always good to know that there are still people willing to help others. You seem to be one of them, and I would like to congratulate you for this attitude. I've read the whole thread and I really enjoyed your methods and thoughts. In your opinion, would Swing Trade be the only way to make constant profits, with "low risk/high probability"? Do you know any scalper and/or intraday successful trader? I love PA and naked charts, however I always used shorter periods like M5, M15 and M30. That is why I am asking this question. Sorry if my question...
I would say both as readers of this thread know I trade my own account and I trade 2 small investor accounts, my investors hate time in the market, as they have a personal prefernce to not be exposed for too long, as such they get a lot of little returns and small loses as well. I prefer to trade 1h and up for my own funds but this is purely personal preference, you can make money both ways, I dont like to catergorise trading into boxes cause they all just follow price and levels, some with more significance than others.

Simon
99% of Traders fail, so don't follow the herd
  • #359
  • Apr 17, 2016 4:06am Apr 17, 2016 4:06am
Quoting sweetaction
I started this journal for no other reason than to help young traders avoid some of the pitfalls that happen. If you have read this thread you will know that I hate the trading textbooks, so many of my theories are very unconvential. To this end the following is the way I understand price, its how I have understood market forces since I opened my first business: 1. If their are more buyers for a product than sellers then price gets more expensive 2. If there are more sellers of a product than buyers then price will be lower. This is the laws of...
Hi Simon,

If you feel you are being attacked you have pretty well left yourself open to this because of the inconsistencies in your history on FF.

I was being far more polite about it than many who frequent these Forums.

Like I have said you have some valid knowledge of how the Markets work.

So I will leave it at that good luck.
  • #360
  • Apr 17, 2016 9:43am Apr 17, 2016 9:43am
Quoting sweetaction
{quote} Finally, thank you somebody does what I have been saying and questions everything. Yep as I said joined this forum back in 2008 as a free news service. I pretended absolutely to be a newbie for quite some time on here, and the reason I did this was so I could was to see if I could learn something from the others on here. Think about it if I really didn't want you to discover my posts on here I would of created a new account before starting this thread. Let me ask you this: If you know you are the smartest guy in the room, who the hell is...
Unsubscribed.Really disappointing response.
In trading, you have to be defensive and aggressive at the same time
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