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Flying Dutchman

  • #2,301
  • Jul 12, 2022 2:48am Jul 12, 2022 2:48am
Quoting BWilliam
{quote} Allow me a moment of indulgence. A scalp trade I did moments ago. Update - I celebrated a 20pips scalp, BUT I lost a 50pips easy swing trade. This is a live market example to explain why don't scalp. The math says the count is -30pips loss. And if the swing trader keep executing lack of discipline trades he cumulates -30pips every time. Cheers {image} {image}
Honesty is rare, particularly in this game
  • #2,302
  • Jul 12, 2022 3:22am Jul 12, 2022 3:22am
Quoting BWilliam
{quote} Hi whitesta, let me make the final post about value trading. Yesterday, I pointed repeatedly to watch how the GY market close in relation to pwol. Look what happened today early Asia session. Whatever you decide for yourself, consider all the facts that suit your individual needs and trading goal. Good luck everyone. May you find the success you seek.
Hi BWilliam,

Thanks for the reply. GBP/JPY closed below Previous weekly open and today price is trading well below Daily open. I placed a sell trade just after London Open for around 30 pips profit though the price is still going lower. I had a target in mind and exited there. So looking at yesterdays close it was below previous weekly open and then during Asia session today price went downwards with a thrust candle going well below Daily open line showing a downward momentum.

Happy Trading All.
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  • #2,303
  • Jul 12, 2022 3:35am Jul 12, 2022 3:35am
I'm confused...
the Prior Week Close (friday July 1) seems more important.... (GY)
  • #2,304
  • Jul 12, 2022 3:44am Jul 12, 2022 3:44am
Quoting Danger-Mouse
{quote} I don't understand that comment. Surely the open is a fixed number, it can't change just because you look at it in a different candle period?
All I have to go by are my tools such as daily open line and weekly open line. It appears my weekly open is the same as the 15 min daily open for Mondays. But on some days, doesn't matter what pair, the 5 min or 1 min or both will show the open line starting from the close price or in that area and sometimes the 1 min can be different to the 5 min. They are both very different to the 15 min open. Some days they are the exact same particularly when price hasn't gapped away from the close price. So from that I use the 15 min open level but am mindful of the other readings the daily open line gives on the other time frames which seem to be the close price. See attached.
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  • #2,305
  • Jul 12, 2022 4:16am Jul 12, 2022 4:16am
Quoting FocusWinReal
{quote} All I have to go by are my tools such as daily open line and weekly open line. It appears my weekly open is the same as the 15 min daily open for Mondays. But on some days, doesn't matter what pair, the 5 min or 1 min or both will show the open line starting from the close price or in that area and sometimes the 1 min can be different to the 5 min. They are both very different to the 15 min open. Some days they are the exact same particularly when price hasn't gapped away from the close price. So from that I use the 15 min open level but...
And this is what bugs me about forex...the lack of official open/close prices. There is a gap down on the Sunday night open (UK time.. 23 pips on my chart). I guess that gap will vary between brokers...some may look at the outstanding position they have on GY and if it might be more advantageous to run the gap a little bigger (I'm not calling them crooks LOL honest !). But to me, regardless of the timeframe of the chart, the open and close should be 2 definite numbers. I know you are getting different open lines on your charts, but it looks like the indicator you are using to plot the open line is selecting a value based on the friday closing price for some timeframes and the monday opening price for other timeframes?
  • #2,306
  • Jul 12, 2022 4:34am Jul 12, 2022 4:34am
Quoting Danger-Mouse
{quote} And this is what bugs me about forex...the lack of official open/close prices. There is a gap down on the Sunday night open (UK time.. 23 pips on my chart). I guess that gap will vary between brokers...some may look at the outstanding position they have on GY and if it might be more advantageous to run the gap a little bigger (I'm not calling them crooks LOL honest !). But to me, regardless of the timeframe of the chart, the open and close should be 2 definite numbers. I know you are getting different open lines on your charts, but it looks...
From what I see the indicator plots the larger timeframes better than the lower timeframes below 15 min. Because I use pivots the daily pivot seems to be the same regardless of timeframe. See AUD attached 1 min. All we can do is use what we have and go from there. So if I'm trading 1 min or 5 min charts for better entries or closes then I must be mindful of the 15 min open and mark it up. Sucks yes.
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  • #2,307
  • Jul 12, 2022 4:55am Jul 12, 2022 4:55am
Quoting FocusWinReal
{quote} From what I see the indicator plots the larger timeframes better than the lower timeframes below 15 min. Because I use pivots the daily pivot seems to be the same regardless of timeframe. See AUD attached 1 min. All we can do is use what we have and go from there. So if I'm trading 1 min or 5 min charts for better entries or closes then I must be mindful of the 15 min open and mark it up. Sucks yes. {image}
That data looks weird... too many gaps...
What's your broker?
I'm using FXCM (for data only) on TradingView.
  • #2,308
  • Jul 12, 2022 5:06am Jul 12, 2022 5:06am
Quoting Onra
{quote} That data looks weird... too many gaps... What's your broker? I'm using FXCM (for data only) on TradingView.
It's 1 min chart and that's the first part of Asia which is no trade area due to the crappy action and high spreads. After 2 hours the price cleans up as spreads drop as well. I don't trade asia much just London and NY. The data is from pepperstone. All brokers are different at that time of day from what I can see.
  • #2,309
  • Jul 12, 2022 6:26am Jul 12, 2022 6:26am
Quoting bluesteele
And what else is hard unwaverabke data.?? Oh I know.. TIME ... There are times to trade and not to trade....trade when the market moves...
Hi guys, I have to make a post about time. The most difficult variable to identify is time.

I wrote earlier about buy/sell hemisphere.
And this buy/sell hemisphere is tagged to time.

We read about planetary calendar strategies and some other time based strategies.
Buy/sell at this time which will show a reversal.
It appears nonsense until I investigated.

Buy/sell hemispheres based on time is in this same category.

If you plan a buy trade you wait for the time that market switch from sell hemisphere to buy hemisphere and you can click that buy button your trade ends in profit. That's what trade the plan actually mean.

If you execute a buy trade during the sell hemisphere your trade may go into a drawdown or price hit your stop.

If not sure about what time is it, stay out don't touch the trade buttons.

CrucialPoint wrote about this long time ago.
I concur with what he wrote.

So the next time you execute a trade and the market goes against your position and it keeps going against your next trade and so on, don't go tilt, market is telling you are trading at the wrong time.


When watching the market be mindful of the clock keep track what time is it.

Cheers
Know what you trade
  • #2,310
  • Jul 12, 2022 6:37am Jul 12, 2022 6:37am
Quoting BWilliam
{quote} Allow me a moment of indulgence. A scalp trade I did moments ago. Update - I celebrated a 20pips scalp, BUT I lost a 50pips easy swing trade. This is a live market example to explain why don't scalp. The math says the count is -30pips loss. And if the swing trader keep executing lack of discipline trades he cumulates -30pips every time. Cheers {image} {image}
I concurred with you.
But sometimes scalp in between the swing does add more pips -
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I'm trading into Asian close, anticipating profit taking around 5pm - 7pm (my time)
  • #2,311
  • Jul 12, 2022 8:55am Jul 12, 2022 8:55am
Quoting mixedbags
{quote} I concurred with you. But sometimes scalp in between the swing does add more pips - {image} I'm trading into Asian close, anticipating profit taking around 5pm - 7pm (my time)
That's amazing work...!
You're buying in a bearcandle and exit in the next, at the high...
Do you use only the 15 min. candles to do this master trick?
  • #2,312
  • Jul 12, 2022 4:07pm Jul 12, 2022 4:07pm
Quoting BWilliam
{quote} Hi guys, I have to make a post about time. The most difficult variable to identify is time. I wrote earlier about buy/sell hemisphere. And this buy/sell hemisphere is tagged to time. We read about planetary calendar strategies and some other time based strategies. Buy/sell at this time which will show a reversal. It appears nonsense until I investigated. Buy/sell hemispheres based on time is in this same category. If you plan a buy trade you wait for the time that market switch from sell hemisphere to buy hemisphere and you can click that...

Hi Bwilliams going through your old posts and to to this one, you used the word ‘ clock’ and not ‘time’ if possible please shed more light on clock as i believe there’s a particular message you’re trying to pass across. Also is NY close appropriate as the end and beginning of the trading day or do you use a particular hour in GMT or UTC
  • #2,313
  • Jul 12, 2022 7:21pm Jul 12, 2022 7:21pm
Interesting.

https://www.outlookindia.com/busines...e--news-207251
  • #2,314
  • Edited 11:17pm Jul 12, 2022 7:45pm | Edited 11:17pm
Quoting angelofx
Hi Bwilliams going through your old posts and to to this one, you used the word ‘ clock’ and not ‘time’ if possible please shed more light on clock as i believe there’s a particular message you’re trying to pass across. Also is NY close appropriate as the end and beginning of the trading day or do you use a particular hour in GMT or UTC
Hi angelofx, if you notice I wrote a few times to read carefully what I write, don't misread it to something I didn't write or miss out what I wrote. Read my posts in toto.

There's a big difference between time and clock. Tokyo open refers to time. London close refers to time.

Otoh, clock refers to the clock. It's important to set your computer clock right especially if you scalp. The clock give reference to the trading times.

If you give me a choice between time and clock, I chose clock as more important. If I were a scalper, choice between delta and clock, it's the clock for me. Clock is one of the most important indicator I use. Hence, am I the typical indicator trader? Yes I am, it's the time/clock indicator.

Buy/sell hemisphere is tagged to time. This means there's an overlap between this time reference and the clock. And that's what we see painted on the chart. We watch the clock and we trade by time.

If we look at people's trades we can tell if the trader follows time or clock or none.

The reason why the trader face fomo is he doesn't track this time/clock variable. Discipline and patience without a variable reference is not the solution.

Time is the more popular variable. We read about London open and close strategy, there's this NY open strategy. All these strategies are time based. Trading red news release is time based.

I use the NY close as the start and end of the trading day.

I convert gmt to local time.

Trade well, trade safe. Cheers

Edit - everything change over time except the clock
Inserted Video
Know what you trade
  • #2,315
  • Jul 12, 2022 7:49pm Jul 12, 2022 7:49pm
Quoting moodybot
Interesting. https://www.outlookindia.com/busines...e--news-207251
I read an article earlier today about the 3AC founders going missing, 3AC mentioned in the article you posted.

https://www.cnbc.com/2022/07/12/foun...o-missing.html
Swing the AXE..HARD w/ Effort, Consistency and Patience
  • #2,316
  • Jul 12, 2022 9:18pm Jul 12, 2022 9:18pm
Quoting HTG
{quote} I read an article earlier today about the 3AC founders going missing, 3AC mentioned in the article you posted. https://www.cnbc.com/2022/07/12/foun...o-missing.html
The wheels are falling off.

It was inevitable, just a matter of time.
  • #2,317
  • Edited 9:43pm Jul 12, 2022 9:27pm | Edited 9:43pm
Quoting moodybot
The wheels are falling off. It was inevitable, just a matter of time.
It's a ponzi scheme, that's why the cost to trade is much lower than the regulated FX brokers.

https://www.forexfactory.com/thread/...8#post14054858
Short it to zero.
Know what you trade
  • #2,318
  • Jul 13, 2022 12:13am Jul 13, 2022 12:13am
Quoting BWilliam
{quote} It's a ponzi scheme, that's why the cost to trade is much lower than the regulated FX brokers. https://www.forexfactory.com/thread/...8#post14054858 Short it to zero.
SHITCOINS is a venue for many organisations and countries to wash their money.
It is a known fact but no countries have the political will to destroy it, cos they themselves might need it one day.
All these sanctions imposed on russia and north korea is a joke, of which these countries that imposed sanction are trading with them via shitcoins backdoors.
  • #2,319
  • Edited 1:11am Jul 13, 2022 12:56am | Edited 1:11am
Quoting Onra
{quote} That's amazing work...! You're buying in a bearcandle and exit in the next, at the high... Do you use only the 15 min. candles to do this master trick?
I trade with M1 charts

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Direction is correct but execution for opening and closing is bad as I busybody in the kitchen.

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In trading there is no IF
  • #2,320
  • Jul 13, 2022 10:19am Jul 13, 2022 10:19am
Was discussing with my children pertaining to trading after news - I asked them what will they do? All said SELL.
So I told them about market psychology 101 -

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There aren't many buyers (volume) left and they are trapping more sellers (delta).

When they forget about parity then we go for parity.

That touch and go parity after the news was just a teaser.
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bluesteele