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  • #39,641
  • Aug 23, 2024 2:33am Aug 23, 2024 2:33am
Quoting hanzohas
{quote} so you would expect it back to around 2510?
this told me all i need to know about you
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I only follow traders with IQ above 160
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  • #39,642
  • Aug 23, 2024 2:35am Aug 23, 2024 2:35am
Quoting Bflyfx
{quote} loser and an idiot if you think big banks dont trade butterflies
banks trading harmonic patterns?
  • #39,643
  • Aug 23, 2024 2:40am Aug 23, 2024 2:40am
Quoting Whale
{quote} banks trading harmonic patterns?
I am not going to say all of them, no
but if the technical analyst is a harmonic trader he will definitely use the patterns
I only follow traders with IQ above 160
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  • #39,644
  • Aug 23, 2024 2:41am Aug 23, 2024 2:41am
Quoting pedro319
{quote} Market messed up the pattern. Try again...
Good morning Pedro,

What you see on Gold now, I am a little bit confused. This areea could offer a revisit of 85 even 70, but also a significant up move if it break 95-00.
  • #39,645
  • Edited 2:58am Aug 23, 2024 2:44am | Edited 2:58am
Quoting Bflyfx
{quote} another chronic loser it seems you do need help to learn how to trade, I will do the family discount if you bring your friends too. a demo is only a demo, you wish you could do anything even on a demo loser corporate are usually the worst traders, I would not be putting my money anywhere near you
You don't even know what a corporate account is
But, who needs that when know how to catch a butterfly right?
ma ma make me happy
  • #39,646
  • Aug 23, 2024 2:45am Aug 23, 2024 2:45am
Quoting Mihisti
{quote} Good morning Pedro, What you see on Gold now, I am a little bit confused. This areea could offer a revisit of 85 even 70, but also a significant up move if it break 95-00.
I think .618 Fx Bible bounce is in progress.
Only at 2510 we are going to see if continuation up or second leg of pullback follows.
We watch the charts from every angle so you don't have to!!
  • #39,647
  • Aug 23, 2024 2:50am Aug 23, 2024 2:50am
Quoting hanzohas
{quote} You don't even know what a corporate account is But, who needs that when know how to catch a butterfly right? {image}
i already put the loser stamp on your case file and it has been archived
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I only follow traders with IQ above 160
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  • #39,648
  • Aug 23, 2024 2:50am Aug 23, 2024 2:50am
What a boring London open, price trying hard to take out liqudiity at 2500-2503 no volume to support it lol, price could quite possibly be flat with no volume the whole session right until NYO, Big Daddy J on the mic tonightttt
Fate goes ever, as fate must.
  • #39,649
  • Aug 23, 2024 2:51am Aug 23, 2024 2:51am
Quoting Bflyfx
{quote} I am not going to say all of them, no but if the technical analyst is a harmonic trader he will definitely use the patterns
some of the harmonic patterns have very good logical idea, i think some of them totally against the fundamental of trading.
i use to trade it back in the days mixed with Elliot waves. I stopped do it because is a big headache with a Lot of confluence setups.
And sometimes I was so lost and decided to abandon this strategy.

i really think banks mostly trade with Algo based few sectors:
1. Fundamentals
2. market participants
3. old high and lows (fractals style not the one of Bill Williams, pattern inside pattern inside pattern)
  • #39,650
  • Aug 23, 2024 2:52am Aug 23, 2024 2:52am
Quoting hanzohas
{quote} You don't even know what a corporate account is But, who needs that when know how to catch a butterfly right? {image}
He sounds like an immature kid, never seen a demo hero this arrogant and disrespectful lol

Quoting Whale
{quote} some of the harmonic patterns have very good logical idea, i think some of them totally against the fundamental of trading. i use to trade it back in the days mixed with Elliot waves. I stopped do it because is a big headache with a Lot of confluence setups. And sometimes I was so lost and decided to abandon this strategy. i really think banks mostly trade with Algo based few sectors: 1. Fundamentals 2. market participants 3. old high and lows (fractals style not the one of Bill Williams, pattern inside pattern inside pattern)
It's a clusterf**k
Fate goes ever, as fate must.
  • #39,651
  • Aug 23, 2024 2:59am Aug 23, 2024 2:59am
Quoting determinato
{quote} He sounds like an immature kid, never seen a demo hero this arrogant and disrespectful lol {quote} It's a clusterf**k

not sure what is your point.
  • #39,652
  • Aug 23, 2024 2:59am Aug 23, 2024 2:59am
Quoting Whale
{quote} some of the harmonic patterns have very good logical idea, i think some of them totally against the fundamental of trading. i use to trade it back in the days mixed with Elliot waves. I stopped do it because is a big headache with a Lot of confluence setups. And sometimes I was so lost and decided to abandon this strategy. i really think banks mostly trade with Algo based few sectors: 1. Fundamentals 2. market participants 3. old high and lows (fractals style not the one of Bill Williams, pattern inside pattern inside pattern)
it depends on the approach of the trading team
fundamental is always number 1 for all the banks
if the technical analyst uses harmonics he will make is recommendation based on a butterfly, for example sell 2565. something like that.
sometimes it can be confusing but worth learning, you do have to learn it properly though. There are not any courses, only books...
I only follow traders with IQ above 160
Challenge Tour All Time Return: -67.8%
  • #39,653
  • Aug 23, 2024 3:00am Aug 23, 2024 3:00am
Quoting Bflyfx
{quote} loser and an idiot if you think big banks dont trade butterflies
Whoa everybody. Whoa. Please stop for a second with this. Let me clear some things up for you guys.

Bflyfx, I think you are doing just fine. Yes, there will be questions on your demo account. There is no reason for you to be upset; this will be natural. Trading demos and live are completely different. That does not mean you are not a good trader at all. Ive seen lots of people translate their demo into amazing live trading. Dont listen to other peoples opinions if they are negative. I think you are doing great regardless and you should keep on your path. Live or demo or whatever that may be. I dont know your history, it doesnt matter. Just do you.

Hanz my man, there is no reason for you to go at each other like this. Your short crumbs do enough good for those who watch where you do not need to prove yourself otherwise.

To all of you, every post you make arguing with someone could have been a post with a chart that improves your game. We will not all get along, too many cultures and personalities in here, but as traders, you gotta put the egos down. I could spend hours in here telling everyone why their trades are shit, but this is not the way.

Now, I have worked at big banks, a hedge fund, and multiple other large entities. This is how they trade.

 

  1. Spot trading:
  2. Forward contracts:
  3. Swaps:
  4. Options trading:
  5. Algorithmic trading: 95% of the time.
  6. Market making:

Banks do not trade harmonics. That does not mean they are not aware of them. They have so many tools at their disposal that trading harmonics is unnecessary; the world's best harmonics can't beat the algorithm or the market making. 20 years ago, an individual trader for a bank most definitely would have traded a nice harmonic. Today this is not the case.

Bly, This is not a gotcha moment where I am proving you wrong. This is a trader passing information to you from one trader to another. It does not make you wrong; it makes your information dated.

This is not a slight to either of you. I respect the hell out of every trader who comes in here and puts it on the line every day, and all of you should as well. Imagine how much progress everyone could make if they worked together rather than apart. A lot of you are on the right track. Lets make everyone profitable.

TechKnow
  • #39,654
  • Aug 23, 2024 3:02am Aug 23, 2024 3:02am
FED'S WONABI: RECENT USD WEAKNESS COULD HAVE AN IMPACT ON INFLATION
FED'S WONABI: MARKET PRICING OF RATE CUTS TOO AGGRESSIVE
  • #39,655
  • Aug 23, 2024 3:02am Aug 23, 2024 3:02am
Quoting ScalaFX
{quote} now im protecting bests {image}
close all for now, today can be very volatile day, I will buy at SSL or wait for buy if price crack 2505
People don't plan to lose. They lose because they don't plan.
  • #39,656
  • Aug 23, 2024 3:05am Aug 23, 2024 3:05am
Quoting pedro319
{quote} I think .618 Fx Bible bounce is in progress. Only at 2510 we are going to see if continuation up or second leg of pullback follows.
you mean 2428?
People don't plan to lose. They lose because they don't plan.
  • #39,657
  • Aug 23, 2024 3:06am Aug 23, 2024 3:06am
Quoting Techknow
{quote} Whoa everybody. Whoa. Please stop for a second with this. Let me clear some things up for you guys. Bflyfx, I think you are doing just fine. Yes, there will be questions on your demo account. There is no reason for you to be upset; this will be natural. Trading demos and live are completely different. That does not mean you are not a good trader at all. Ive seen lots of people translate their demo into amazing live trading. Dont listen to other peoples opinions if they are negative. I think you are doing great regardless and you should keep...
i know what i am talking about and i could even mention names of people. for now i just leave it at that.
thank you for input
I only follow traders with IQ above 160
Challenge Tour All Time Return: -67.8%
  • #39,658
  • Aug 23, 2024 3:08am Aug 23, 2024 3:08am
Still waiting....I think up...isn't it ?
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  • #39,659
  • Aug 23, 2024 3:10am Aug 23, 2024 3:10am
Quoting Bflyfx
{quote} i know what i am talking about and i could even mention names of people. for now i just leave it at that. thank you for input
Cheers
TechKnow
  • #39,660
  • Aug 23, 2024 3:10am Aug 23, 2024 3:10am
As long as the folks on this thread are profitable I don't see any problems... and profitable we are!

You can strike the nail with a bunch of different tools and not just the hammer. Hammer is the most efficient, but the only tool for achieving the success.
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