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The Trader's Academy - by Traders for Traders

  • #1,261
  • Jun 5, 2017 8:25am Jun 5, 2017 8:25am
Quoting TooSlow
{quote} "Price is the same on all time frames". I learned that from an ADVANCED ALIEN CIVILIZATION Multiple time frames" are an ILLUSION. All time frames are different slices of the 1 tick chart. No more, no less. Believe what you want. Green pips to all. Cheers.
No they're not, I'm looking at mine now.
  • #1,262
  • Jun 13, 2017 8:17am Jun 13, 2017 8:17am
Anyone interested in a potentially strong resistance level for the Dow, I have between 21,500-600 as a level to watch, and according to the Daily chart, it should get there, though of course we have a probable rate rise by the Fed tomorrow, so not sure what that'll do to the Dow, though technically it is upward bound.
  • #1,263
  • Jun 14, 2017 5:32am Jun 14, 2017 5:32am
We all know that we don't actually have to make too many pips a day to take good, consistent profits as a trader, and yet this is what the majority of traders go for, spending hours watching price and waiting for the big move. Have you never tried switching over to demo and downsizing your chart all the way to say a 5 second chart just to see what you can do? You may be very surprised! If you think that that time frame is just an impossible mess to trade, then you'd be wrong, because although it certainly can be just like any other time frame, it can also give a succession of really nice trades in both directions, moves that just look like impossible chop on say a 30m time frame. Play around with different moving averages until you find a combination that gives you entries and exits.

This isn't for everyone for sure, but if you're short of time, perhaps trading before or after work, or if you're just someone who like me prefers to be taking small trades as opposed to doing nothing, then you should really give this a go. It could be a revelation for you.
  • #1,264
  • Jun 14, 2017 6:49am Jun 14, 2017 6:49am
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  • #1,265
  • Jun 14, 2017 7:11am Jun 14, 2017 7:11am
Hi,

I follow the Dax on 15 second charts, but I am not an expert, so any advice welcome.

All the best.

raaammy
  • #1,266
  • Jun 14, 2017 7:30am Jun 14, 2017 7:30am
Quoting raaammy
Hi, I follow the Dax on 15 second charts, but I am not an expert, so any advice welcome. All the best. raaammy
You need to correlate your trades with higher time frames in addition, because the 5 or 15 second will not give you enough information. So if your smalles tis 15 seconds, then your next TF should be 3 or 4 times bigger, so I like the 45 seconds as a good correlative match for the 15 sec, or the 1 minute also works well. Then I like the 3 min, then the 10min, and that should be enough, as anything biger is just giving you the main areas of S&R for the day. The trick is to enter trades on your smallest TF that are also supported by your moving averages ( I trade mainly off of MA positioning ) on the higher time frames. Move your SL to break even quite quickly trading like this, say after 10 pips, because as long as the entry is a good one, you're unlikely to get stopped out at BE too many times. Minimize the possibility of losing money, and the good trades will take care of themselves.

There is loads more I could write, but red data coming up, so I'll sign off for now. good luck!
  • #1,267
  • Jun 14, 2017 7:32am Jun 14, 2017 7:32am
Thanks Cat.

All the best.

raaammy
  • #1,268
  • Jun 14, 2017 8:11am Jun 14, 2017 8:11am
Quoting raaammy
Hi, I follow the Dax on 15 second charts, but I am not an expert, so any advice welcome. All the best. raaammy
https://www.forexfactory.com/showthr...25#post8635425

https://www.forexfactory.com/showthr...46#post8657946

Also cat has made a few more illustrations in the first pages of the thread with his technique for small tf's.
  • #1,269
  • Jun 14, 2017 8:21am Jun 14, 2017 8:21am
Hello Cat
Nice thread with lots of good info. It will take me a while to read and digest the whole thread.
Looks like you like to trade DAX. As a US citizen I don't have access to CFDs. Margin and tick value are very high in Futures.
Instrument with similar volatility and moves is NQ. Do you have any recommendations w.r.t. timeframes and charts?
Thanks
  • #1,270
  • Jun 14, 2017 8:31am Jun 14, 2017 8:31am
Hi Sakisf,

Thanks for the info.

All the best.

raaammy
  • #1,271
  • Jun 14, 2017 8:40am Jun 14, 2017 8:40am
Quoting vk79
Hello Cat Nice thread with lots of good info. It will take me a while to read and digest the whole thread. Looks like you like to trade DAX. As a US citizen I don't have access to CFDs. Margin and tick value are very high in Futures. Instrument with similar volatility and moves is NQ. Do you have any recommendations w.r.t. timeframes and charts? Thanks
Thanks VK. I also trade GJ, in fact, more GJ than Dax these days. GJ offers lots of movement and a big range. The spread is a bit bigger, so you'll need an extra pip or two on stop losses, but in terms of movement it's well worth it. I concentrate on one pair at a time, I have to really, seeing as I trade multiple times in any given day. It really doesn't matter what you trade though, it's how you trade it, so pretty much, if you can trade one, you can trade them all. As I explained in this thread, I began trading the small time frames not by choice but out of necessity as I began with a very small account and only had limited time to trade until I started doing this full time.

Enjoy the thread!
  • #1,272
  • Jun 15, 2017 6:10am Jun 15, 2017 6:10am
Now that MPC voting surprise will have fucked an awful lot of GBP shorts, which is why ladies and gentlemen, it is never wise to be holding open positions going into a big red flag.

Trading is not gambling, it is measured, calculated, skills based employment.
  • #1,273
  • Jun 16, 2017 7:03am Jun 16, 2017 7:03am
All those wondering when this Dax slow grind upwards is going to top and start coming down, there might not be too much longer to wait, I say might, because that is as far as one can take any projection on future market movement.

Take the Dow Jones to begin with, because I'm waiting to see if the price can reach 21,500 - 600, because as I posted above on this thread, I have a potential top at this level. The Dax is also in uncharted territory, but there is a currently a classic diversion pattern with MACD on the monthly chart. Lower than that time frame, and it's not really giving very much away, certainly not on the weekly, though on the Daily I have resistance at 12,938 which has already held this week, putting in a nice shooting star candle on Wednesday followed by a nice drop yesterday.

So my prediction is that we are getting quite close to the top of the market, at least for the time being, on both the Dow and the Dax, though as I said, I'm expecting the Dow to move higher to at least 21,500, so if it does reach this level, I will be watching very carefully for an opportunity to put in shorts if the price behaves the way I would expect it to, which I will try and hold for the Summer or perhaps even longer.

I'll put any updates here on this thread for those who are interested.
  • #1,274
  • Jun 18, 2017 11:23am Jun 18, 2017 11:23am
The archetypal forex factory day trader....frontal lobotomized and extremely dangerous!

( picture stolen from another thread )
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  • #1,275
  • Jun 19, 2017 9:16am Jun 19, 2017 9:16am
Quoting cat
Anyone interested in a potentially strong resistance level for the Dow, I have between 21,500-600 as a level to watch, and according to the Daily chart, it should get there, though of course we have a probable rate rise by the Fed tomorrow, so not sure what that'll do to the Dow, though technically it is upward bound.
500 just hit. I have pinpoint resistance at 577 as the charts stand right now, so we'll see how it plays. Atm very bullish, but the next 100 pips up from this level now very much one to watch for a potential reversal on the Dow. I wouldn't say permanent, but could be the top for a while.

For Dax traders, I have resistance just short of 13,000, at 980, though could well push up to 13,000
  • #1,276
  • Edited 2:46pm Jun 19, 2017 2:35pm | Edited 2:46pm
Take the market as it is.
Do not ask to much - you get more questions.
Make a coffee or whatever you will do drink (alcohol is not suitable) and watch many days without any action your clean chart (this is a chart without anything).
Have a clue what you want from the market in a day, week and month and make a plan.
After reaching the goals, close everything what are have to do with forex.
If you have after all this the fun with indicators and wish to post it beside all 1.000.000 methods, better you forget this and go back watching boring charts as discribed earlier.
Do not care about the so called profffesional, be your own master.
Stop hunting informations about how the market works, make your own picture.
Do not share your plan / method with friends before you 100% sure it works for you.
Perfection is the enemy of good enough!
  • #1,277
  • Jun 20, 2017 3:41am Jun 20, 2017 3:41am
The biggest sign that most people on this forum do not have a clue how to trade is the number of people glued to news feeds, such as this morning for the Carney speech - over 400, with the first poster shouting " Sell GBP " after it had already dropped 100 pips ( on GJ ).

The place one needs to be watching when the market is moving quickly is the charts, not news feeds that are always well behind what the price is actually doing. Be aware of them yes, but trade off of price action, not off of what some central banker is or isn't saying.
  • #1,278
  • Jun 20, 2017 4:25am Jun 20, 2017 4:25am
Quoting cat
The biggest sign that most people on this forum do not have a clue how to trade is the number of people glued to news feeds, such as this morning for the Carney speech - over 400, with the first poster shouting " Sell GBP " after it had already dropped 100 pips ( on GJ ). The place one needs to be watching when the market is moving quickly is the charts, not news feeds that are always well behind what the price is actually doing. Be aware of them yes, but trade off of price action, not off of what some central banker is or isn't saying.
agree lol..
It's in fear when people show what they truly value.
  • #1,279
  • Jun 20, 2017 7:48am Jun 20, 2017 7:48am
Quoting cat
{quote} 500 just hit. I have pinpoint resistance at 577 as the charts stand right now, so we'll see how it plays. Atm very bullish, but the next 100 pips up from this level now very much one to watch for a potential reversal on the Dow. I wouldn't say permanent, but could be the top for a while. For Dax traders, I have resistance just short of 13,000, at 980, though could well push up to 13,000
Good call .. in terms of dax. it was spot on.. shorts winning this battle.
It's in fear when people show what they truly value.
  • #1,280
  • Jun 20, 2017 8:18am Jun 20, 2017 8:18am
Quoting ensale
{quote} Good call .. in terms of dax. it was spot on.. shorts winning this battle.
Almost spot on...the give away on the Dax this morning was what I call a ' Death throe ' candle, which you can see on the 5 minute 7am Frankfurt open - a violent single move up to, in this case, the resistance area. I posted on the 13th June about the Dow potentially topping out between 21,500-600, so as it stands atm that is on course. It'll be interesting to see what price does this afternoon, but if you've got shorts from up near the highs, I'd hang on to them.
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