- #1,625
- Jun 6, 2022 6:59am Jun 6, 2022 6:59am
- Joined Nov 2020 | Status: Trader | 2,634 Posts
{quote} Ihlas; you're expecting down... so how do you trade this? Do you have a big stoploss; average in or wait for some signal to go short once it goes down? Thanks!
that today's price can't go above Friday's H. So I can enter where I want as soon as I know where the price goes, but I try to enter H for less drawdown. IMHO it's all about direction. Averaging is also one way.
- #1,627
- Jun 6, 2022 10:49am Jun 6, 2022 10:49am
- Joined Jan 2020 | Status: Membership revoke | 2,332 Posts
Know what you trade
- #1,631
- Jun 6, 2022 11:36am Jun 6, 2022 11:36am
- Joined Nov 2020 | Status: Trader | 2,634 Posts
{quote} No. You better have to be Elon Musk or Jeff Bezos.
Great idea
- #1,632
- Jun 6, 2022 6:06pm Jun 6, 2022 6:06pm
- Joined May 2010 | Status: Straight line Fest | 3,194 Posts
- #1,633
- Jun 6, 2022 6:35pm Jun 6, 2022 6:35pm
- Joined Dec 2018 | Status: Trader | 4,596 Posts | Online Now
- #1,634
- Jun 6, 2022 6:36pm Jun 6, 2022 6:36pm
- Joined Dec 2018 | Status: Trader | 4,596 Posts | Online Now
This is just my own opinion & I stand to be corrected in discussion, no probs at all.
crypto crowd
If a trader was migrating their trading from currencies/indicies to crypto then from the information provided by actual crypto traders there seems just not enough candle by candle volume in crypto brokers to facilitate my currency-style trading (that being as a currency trader I can get both my buy or sell trade FILLED and also my Close For Profit Request FILLED immediately.)
In crypto it has been said a trader CANNOT just find a perfect trade setup on a chart and then make a buy for example as the crypto platform does not have
enough volume to see that trade taken immediately on request.
As disturbing as that might be to every serious currency/indicie trader, it is actually worse imo as on a crypto broker when a trader who has made an excellent trade and the price is now at a profit level where the trader wishes to close their trade, the crypto platform may not be able fulfil the trader’s request.
ie the crypto broker cannot guarantee to have the volume available to allow a trader to close their trade in profit.
This bizarre situation has been verified by long term crypto traders in their posts on Forex Factory.
I assume a trader would receive a message from the crypto platform when they push the Close Trade Button like …
“We are sorry to inform you but we do not have the money available at this time to service your request, please try again later”.
I’ve seen this on certain bank ATM machines in the past so I know what this message feels like.
I might say that it also appears to me to be one stage further.
I am of the opinion that if a trader wanted to migrate their trading from currency/indicie TO crypto that it would also be IMPERATIVE for the new crypto trader to only trade with delta-volume, no perfect setups etc can be guaranteed as in currency trading. And also to have all the indicators or facility available BEFORE switching to crypto else with the limited timing of volume being available in certain windows of opportunity, that
when the mad scramble occurs by all the advanced crypto traders to get their trades filled, any new trader to crypto without those same tools might then become the VOLUME (ie the liquidity provider) for the tool advantaged crypto traders.
thus, as I say, its Caveat Emptor
currency indicie crowd
Any time of day, any pair your trade request will be filled (spread will increase in times of low volume in the desired direction or at the new day opening).
It is really great for me as a currency trader that every currency trade I wish to make, at any time will be FILLED immediately.
But the REALLY important thing for me as a currency would be that my Take Profit request, at the time I have completed my trade WILL ALSO be filled and I won’t receive any dreaded ATM-style message like,
“I am sorry we cannot give you your profit because we do not have enough money to do so at this time”.
That’s the simplicity to me of the straight shooting currency/indicie trading imho.
After that, then whatever we wish to trade (crypto or currency) is up to us, no better no worse that I can see.
(though I do like to get paid immediately on a great trade
)
(edit: GBPJPY - what a night in New York I see this morning lol, let me take an overview later)
crypto crowd
If a trader was migrating their trading from currencies/indicies to crypto then from the information provided by actual crypto traders there seems just not enough candle by candle volume in crypto brokers to facilitate my currency-style trading (that being as a currency trader I can get both my buy or sell trade FILLED and also my Close For Profit Request FILLED immediately.)
In crypto it has been said a trader CANNOT just find a perfect trade setup on a chart and then make a buy for example as the crypto platform does not have
enough volume to see that trade taken immediately on request.
As disturbing as that might be to every serious currency/indicie trader, it is actually worse imo as on a crypto broker when a trader who has made an excellent trade and the price is now at a profit level where the trader wishes to close their trade, the crypto platform may not be able fulfil the trader’s request.
ie the crypto broker cannot guarantee to have the volume available to allow a trader to close their trade in profit.
This bizarre situation has been verified by long term crypto traders in their posts on Forex Factory.
I assume a trader would receive a message from the crypto platform when they push the Close Trade Button like …
“We are sorry to inform you but we do not have the money available at this time to service your request, please try again later”.
I’ve seen this on certain bank ATM machines in the past so I know what this message feels like.
I might say that it also appears to me to be one stage further.
I am of the opinion that if a trader wanted to migrate their trading from currency/indicie TO crypto that it would also be IMPERATIVE for the new crypto trader to only trade with delta-volume, no perfect setups etc can be guaranteed as in currency trading. And also to have all the indicators or facility available BEFORE switching to crypto else with the limited timing of volume being available in certain windows of opportunity, that
when the mad scramble occurs by all the advanced crypto traders to get their trades filled, any new trader to crypto without those same tools might then become the VOLUME (ie the liquidity provider) for the tool advantaged crypto traders.
thus, as I say, its Caveat Emptor
currency indicie crowd
Any time of day, any pair your trade request will be filled (spread will increase in times of low volume in the desired direction or at the new day opening).
It is really great for me as a currency trader that every currency trade I wish to make, at any time will be FILLED immediately.
But the REALLY important thing for me as a currency would be that my Take Profit request, at the time I have completed my trade WILL ALSO be filled and I won’t receive any dreaded ATM-style message like,
“I am sorry we cannot give you your profit because we do not have enough money to do so at this time”.
That’s the simplicity to me of the straight shooting currency/indicie trading imho.
After that, then whatever we wish to trade (crypto or currency) is up to us, no better no worse that I can see.
(though I do like to get paid immediately on a great trade
)(edit: GBPJPY - what a night in New York I see this morning lol, let me take an overview later)
- #1,635
- Jun 6, 2022 8:10pm Jun 6, 2022 8:10pm
- Joined Dec 2018 | Status: Trader | 4,596 Posts | Online Now
I was asleep in NY as always, I like my 8hrs lol, no trade for me there
someone had some fun though
.
someone had some fun though
.
- #1,636
- Jun 6, 2022 8:31pm Jun 6, 2022 8:31pm
I was asleep in NY as always, I like my 8hrs lol, no trade for me there
Yes price just went past 165.850 target. The price never closed below the Daily Open mark and it told us that it was going to go alot higher. There are Round Numbers on the way which may halt the move and more targets above before we get to see the Yearly High. Anyone who was ready for Asia session could have made easy 30 to 50 pips afer a couple of intent candles (upward thrust) after day open. I am not sure if i am reading the intent candles or thrust candles like experienced traders but we could tell that price wanted to go up further in the Asia session. (atleast for now)
Happy Trading all
- #1,637
- Jun 6, 2022 9:08pm Jun 6, 2022 9:08pm
- Joined Dec 2018 | Status: Trader | 4,596 Posts | Online Now
{quote}
price never closed below the Daily Open mark and it told us that it was going to go alot higher. There are Round Numbers on the way
and more targets above before we get to see the Yearly High.
30 to 50 pips afer a couple of intent candles (upward thrust) after day open.
I am not sure if i am reading the intent candles or thrust candles like experienced traders but we could tell that price wanted to go up further in the Asia session.
Hi W,
Yes imho you are seeing the Market Mechanics & the Market Behaviour.
These are not always easy to grasp so very well done.
The day open gave us our first clue this morning watching how market particpants either wanted to trade above or below.
And once they ran up to the first rotational target above, at 165.850, it was no surprise then to see them go up the
extra to take out (Kevs fave lol) Big Round Number.
While there were 30-50 pips for the bold
I take what I feel comforatble with in the run which is usually around half of that at a time,but it is up to each trader of course.
I always like it when I read BW here discussing intent and while this is visible just with the naked eye (and the confidence of past occurances) Jason has assessed his mathematically for greater precision.
All the best for the rest of the week folks
- #1,638
- Edited 10:18pm Jun 6, 2022 9:36pm | Edited 10:18pm
- Joined Sep 2015 | Status: Trader | 2,516 Posts
Trading thin liquidity at the boundary of the charts
- #1,639
- Jun 6, 2022 10:20pm Jun 6, 2022 10:20pm
- Joined Dec 2018 | Status: Trader | 4,596 Posts | Online Now
{quote}
Hi Pete The real issue is most forex traders get their positions filled immediately because they are trading against their broker, not on the real market.
So small spreads and immediate fills are guaranteed but what if your orders were placed onto the live markets?.
Hi Rick,
This would also be a great discussion we could have, as I see it a little slightly differently, as with ASIC regulated brrokers in Oz they must pass the trade on to a Liquidity Provider who then assumes all the risk, the broker gets the comms and probably some form of kickback for providing tthem the liquidity of every trade).
(I wont go into it now, but imho the LPs take ALL our retail trades whether we are a buyer or seller and all at the same time just in an aggregate form and those LPs will have their own risk parameters as a business and can offset any of that risk by moving it up to the next level LP - as aggregate NOT as an individual traders trade - and right up if necessary to prime and then prime of prime which is either knocking on the door, or in the door, of Tier which is, of course, the real live market as you say and what deals in the real $5 trillion each each day, well away from our mt4 screens).
Another story tho.
- - - -
Now crypto and currency and TT lol
.I take your point Rick, but unfortunately it just can’t be "more profitable" for ME
As ryu clearly stated to me based on my perfect trade timing (currency-style), which I showed him, when he said my trade would just NOT have been filled.
ie no trade for me equals NO profitability for me (at all)
So its not really the slow filling that concerns me, it’s the NOT getting my very good trades filled at the place & time when I want to get on.
And then not getting my Take Profit either at the exact point in time & price when I want to exit (which would have me fuming
.)Crypto to me seems more like a computer game where the games’ programming is designed to
herd all the players into one small room (ie the volume availability timing) where all the real action only then takes place (and its manic lol).
For me now, and understanding the market mechanics of currency trading I can honestly see no advantage in crypto
(while I can understand what you guys are doing).
My personal profitability is totally based on my assessment of where to enter the trade (and exit) at MY choice of time,
and not just when the crypto market volume spike would allow me to trade - only at THEIR point of availability.
I think you understand where I'm coming from.
All the best with your crypto of course, seriously
- #1,640
- Jun 6, 2022 10:46pm Jun 6, 2022 10:46pm
- Joined Jan 2020 | Status: Membership revoke | 2,332 Posts
Know what you trade