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Flying Dutchman

  • #4,681
  • Jan 4, 2023 9:28am Jan 4, 2023 9:28am
Quoting OAPDave
In my humble view This whole industry is full of ideas proven or unproven Guys mostly with honorable indentations either think of there Own Ideas Run with someone else's Or think they can improve someone else's In any of the above case's I am more than happy to have a look and make my own judgement Parting with money could and would be another case I think the word Scammers is well over used
I apologise if my inquisitiveness comes over harshly sometimes, that is not my intention at all.

If something is working for you, that's absolutely fine with me.

Most days currencies move over 150 pips, we only need 10 - 20 % of that movement to make a decent profit, however that is done.
It never gets easier, you just get better
  • #4,682
  • Jan 4, 2023 9:32am Jan 4, 2023 9:32am
Quoting turnip15
{quote} Them lines Shabs Not traded the sp500 cos I was on the line to BT ( UK phone provider) renewing my Broadband package etc. Got a 900 full Fibre package. Then looked at chart of sp500. Hindsight but maybe one trade crossing up thro USA open line. Possibly failed short and long in channels and a good short from channel.Long on level not taken and now a short triggered? News about today as well? {image}
Always a bad idea to trade when you are distracted

I dont trade Indices, let me pull up the chart, I will get back to you.
It never gets easier, you just get better
  • #4,683
  • Jan 4, 2023 9:41am Jan 4, 2023 9:41am
Quoting turnip15
{quote} Them lines Shabs Not traded the sp500 cos I was on the line to BT ( UK phone provider) renewing my Broadband package etc. Got a 900 full Fibre package. Then looked at chart of sp500. Hindsight but maybe one trade crossing up thro USA open line. Possibly failed short and long in channels and a good short from channel.Long on level not taken and now a short triggered? News about today as well? {image}
Last one would be a loser. So three losses and a couple of profitable trades . Total of three losses so I quit for the day - that is my mechanism to stop me chasing more trades and to quit ( in this case) whilst just ahead.
every Saint has a past. Every Sinner has a Future
  • #4,684
  • Jan 4, 2023 9:43am Jan 4, 2023 9:43am
Quoting Shabs19
{quote} I have not attacked anyone, if it came across like that, I apologise, I am simply quoting what has been said about Gann by none other tha Alexander Elder in his book "Trading for a Living". He has some very sound advice on trading psychology & trading techniques. KEY TAKEAWAYS: (from investopaedia regarding W D Gann) W.D. Gann created trading strategies using geometry, astrology, and ancient mathematics. His techniques, known as Gann indicators, are used in...
you don't need to apologies, I understood your point of view, it's just agreeing with the haters made you sound like you are attacking him

I've studied and applied GANN methods for over a decade, and I know for a fact that haters never read anything about GANN, they just repeat ignorant comments about him.

GANN explained all his methods in depth using simple math, his books are proof enough, you are welcome to read them http://gann.su/book_eng_en.html
and there is nothing wrong in getting paid for a full course, you can find the "Master Commodity Course" in the link too, there is no secrets used, all are simple math, he teach the basics of the method and how to use the math.

RICHARD D. WYCKOFF is a well known trader, here is his interview with GANN in 1909
http://www.tradingfives.com/gann/wd-...rview-1909.htm

love him or hate him is not the issue, what's important is if the math checks out, his personal life is irrelevant successful or not.

cheers,
"the public is not yet ready for it" W.D. GANN
  • #4,685
  • Jan 4, 2023 9:53am Jan 4, 2023 9:53am
Quoting Shabs19
{quote} I have not attacked anyone, if it came across like that, I apologise, I am simply quoting what has been said about Gann by none other tha Alexander Elder in his book "Trading for a Living". He has some very sound advice on trading psychology & trading techniques. KEY TAKEAWAYS: (from investopaedia regarding W D Gann) W.D. Gann created trading strategies using geometry, astrology, and ancient mathematics. His techniques, known as Gann indicators, are used in...
you mentioned you "watch levels"

here is a method of GANN for Gold, squaring price and time of 2021 you get 2022 levels in advance.
of course you can not trade the levels without knowing the basics of the method, but the math did organize all 2022 major S/R.

just an example.

Attached Image (click to enlarge)
Click to Enlarge Name: ScreenHunter 4008.png Size: 70 KB


cheers,
"the public is not yet ready for it" W.D. GANN
  • #4,686
  • Jan 4, 2023 10:13am Jan 4, 2023 10:13am
Quoting turnip15
{quote} Them lines Shabs Not traded the sp500 cos I was on the line to BT ( UK phone provider) renewing my Broadband package etc. Got a 900 full Fibre package. Then looked at chart of sp500. Hindsight but maybe one trade crossing up thro USA open line. Possibly failed short and long in channels and a good short from channel.Long on level not taken and now a short triggered? News about today as well? {image}
Market range bound, within big drop of yesterday.

Overhead cluster 3858.1, 3855.2, 3852.8 & 3847.3

Cluster below 3830.9, 3823.3 & 3813.0 fell slightly short by 0.9 pip

All levels taken from today & yesterday as market rangebound. You would have marked them up beforehand, targets up & down.

No Maths, just observation.

Trade direction was up but wait for a pullback entry @ 12.45 GMT first target for about 12.5 pips after spread.

Dangerous to trade around News Events @ 3pm, could go UP or Down very quickly.

Rally Up (24 pips) was good though from 3830.9 although started before NY Open.

Don't know why 9.30 am NY Open should apply, it's a 24 hr market.
It never gets easier, you just get better
  • #4,687
  • Jan 4, 2023 10:17am Jan 4, 2023 10:17am
Finally - Notice how price moves when I am not there
Broadband all sorted.

Back tomorrow
Attached Image (click to enlarge)
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every Saint has a past. Every Sinner has a Future
  • #4,688
  • Jan 4, 2023 10:25am Jan 4, 2023 10:25am
Quoting turnip15
Finally - Notice how price moves when I am not there Broadband all sorted. Back tomorrow {image}
And here's the 5 minute with levels which I should have used as triggers to look at one minute time frame IMHO of course

@Shabs19 - yes 24 hour market but I am in habit of starting from New York Open for New York Indices. Prior to open trades are still possible of course - less volatility.
Attached Image (click to enlarge)
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every Saint has a past. Every Sinner has a Future
  • #4,689
  • Jan 4, 2023 10:25am Jan 4, 2023 10:25am
Quoting turnip15
{quote} Last one would be a loser. So three losses and a couple of profitable trades . Total of three losses so I quit for the day - that is my mechanism to stop me chasing more trades and to quit ( in this case) whilst just ahead.
Stand aside when there is a News Event, make a cup of Tea, trade only before at least 1hr & 15m after News.
It never gets easier, you just get better
  • #4,690
  • Jan 4, 2023 10:35am Jan 4, 2023 10:35am
Quoting Kwt4x
{quote} you don't need to apologies, I understood your point of view, it's just agreeing with the haters made you sound like you are attacking him I've studied and applied GANN methods for over a decade, and I know for a fact that haters never read anything about GANN, they just repeat ignorant comments about him. GANN explained all his methods in depth using simple math, his books are proof enough, you are welcome to read them http://gann.su/book_eng_en.html and there is nothing wrong in getting paid for a full course, you can...
Forecasting the future is totally unnecessary pursuit when all you are doing is trading in probabilities.

We have absolutely no knowledge of the future, Maths is a tool only as are all the myriads of indicators/expert advisors that occupy this business.

Long term trading, holding onto positions for over months & years is something I would not even consider, when trading short term provides lower risk & better capital utilisation.

Horses for Courses. If that is your style then you know best.

I like simplicity & logic but that's me.
It never gets easier, you just get better
  • #4,691
  • Jan 4, 2023 10:40am Jan 4, 2023 10:40am
Quoting turnip15
{quote} And here's the 5 minute with levels which I should have used as triggers to look at one minute time frame IMHO of course @Shabs19 - yes 24 hour market but I am in habit of starting from New York Open for New York Indices. Prior to open trades are still possible of course - less volatility. {image}
Attached Image (click to enlarge)
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It never gets easier, you just get better
  • #4,692
  • Jan 4, 2023 10:46am Jan 4, 2023 10:46am
Quoting Shabs19
{quote} ...Don't know why 9.30 am NY Open should apply, it's a 24 hr market....

0930 is when the NYSE opens. Between 0930 and 1600, maybe 1630 (not sure of exact close - my margin goes from day trade to full at 1555). Even though most things can be traded around the clock, the most liquidity is during those daytime hours.

The indexes are like two different markets. From open in the evening, after the one hour shutdown, to around 1200 to 1330 UTC it is fairly structured. Enough volume to trade. During the US session it often gets much more volatile, but all the rules still apply. It also tends to do what I call the slop at times. Lots of wicks and overlapping of bars. Not really good trading environment.
Mark ... Everything you have been told is a LIE
  • #4,693
  • Jan 4, 2023 11:36am Jan 4, 2023 11:36am
Quoting spzd
{quote} 0930 is when the NYSE opens. Between 0930 and 1600, maybe 1630 (not sure of exact close - my margin goes from day trade to full at 1555). Even though most things can be traded around the clock, the most liquidity is during those daytime hours. The indexes are like two different markets. From open in the evening, after the one hour shutdown, to around 1200 to 1330 UTC it is fairly structured. Enough volume to trade. During the US session it often gets much more volatile, but all the rules still apply. It also tends to do what I call the slop...
Not a market that I kook at, so it can do whatever it wants.

It never gets easier, you just get better
  • #4,694
  • Jan 4, 2023 12:53pm Jan 4, 2023 12:53pm
Quoting Shabs19
{quote} {image}
Yes -measured moves are something I have read about but I think I will stick to a few levels prior to open and my channel plus evolving market structure for now. I don't see any point in predicting markets into the future - if it were possible some smart maths people would have done it years ago and wrecked the market. Probabilities via levels are a disciplined way of simply waiting for a point to place your bet with a level in mind that tells you when your bet is wrong.
every Saint has a past. Every Sinner has a Future
  • #4,695
  • Jan 4, 2023 12:58pm Jan 4, 2023 12:58pm
Quoting turnip15
{quote} Yes -measured moves are something I have read about but I think I will stick to a few levels prior to open and my channel plus evolving market structure for now
Go with what's working and refine the s41t out that.
Mark ... Everything you have been told is a LIE
  • #4,696
  • Jan 5, 2023 3:32am Jan 5, 2023 3:32am
It.s about 9:30am and my stint finishes at 10am UK time. I have Dax in a Range and have made no trades so far. Since I finish at 10am this could be my first "No Trade" session for this year and for a while.
Does anyone else undergo these no trade session stints?
( I realise those with different approaches will see trades where I see none)


EDIT: Add chart
Attached Image (click to enlarge)
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every Saint has a past. Every Sinner has a Future
  • #4,697
  • Jan 5, 2023 4:01am Jan 5, 2023 4:01am
And the 15 minute view - tails etc. Taking the dog for a walk cos it keeps dropping its plastic toy on me foot
Attached Image (click to enlarge)
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every Saint has a past. Every Sinner has a Future
  • #4,698
  • Jan 5, 2023 5:36am Jan 5, 2023 5:36am
Quoting turnip15
It.s about 9:30am and my stint finishes at 10am UK time. I have Dax in a Range and have made no trades so far. Since I finish at 10am this could be my first "No Trade" session for this year and for a while. Does anyone else undergo these no trade session stints? ( I realise those with different approaches will see trades where I see none) EDIT: Add chart {image}
This is the reason I stay away from Indices.

Spread & Margin requirements are also almost double of what you pay on major currency pairs. (For me anyway).

I like the relationship of ADR vs the cost of trading, more bang for your buck.
It never gets easier, you just get better
  • #4,699
  • Jan 5, 2023 7:58am Jan 5, 2023 7:58am
Quoting Shabs19
{quote} This is the reason I stay away from Indices. Spread & Margin requirements are also almost double of what you pay on major currency pairs. (For me anyway). I like the relationship of ADR vs the cost of trading, more bang for your buck.
CFD spreads can be harsh. I use a discount broker and trade the actual futures. Spreads are 1 or 2 ticks.

If all I had were CFDs I would just trade currencies.
Mark ... Everything you have been told is a LIE
  • #4,700
  • Jan 5, 2023 8:06am Jan 5, 2023 8:06am
Quoting turnip15
It.s about 9:30am and my stint finishes at 10am UK time. I have Dax in a Range and have made no trades so far. Since I finish at 10am this could be my first "No Trade" session for this year and for a while. Does anyone else undergo these no trade session stints? ( I realise those with different approaches will see trades where I see none) EDIT: Add chart {image}
There are periods in every session where there are not any viable entries for MA specific methods.

Based off the RoadMap I think there may be a couple entries there.
Mark ... Everything you have been told is a LIE
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