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Flying Dutchman

  • #2,321
  • Jul 13, 2022 10:48am Jul 13, 2022 10:48am
Quoting mixedbags
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 - {image} 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.
I was double sway, fail to reach tp twice. Trail stop the 2nd attempt, take some.
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Know what you trade
  • #2,322
  • Edited 9:27pm Jul 13, 2022 6:32pm | Edited 9:27pm
Quoting BWilliam
I was double sway, fail to reach tp twice. Trail stop the 2nd attempt, take some. {image}
Short explanation why I took this trade based on my value strategy. Market plunge sharply towards parity, like mixedbags I was watching that level. Normally I don't trade NY session and I don't trade spike. I knew 2 things that I wrote about earlier that made me take this trade. There's a clear target to the left - yesterday's low. And the market will close above dol. Market was undervalued. I waited for the break and took a look at the clock, took the trade. (This trade shows why I don't use volume delta)

As a swing trader I broke the cardinal rule don't scalp. Market came close to tp twice, I decided to trail stop and call it a day. I lost -25pips. Cheers.

Edit - just want to point out, intraday swing trades take 2-4hours on average. Intraweek swing trades take 1-2days. Scalps are a lot quicker. This give a time perspective. Intraweek swing trading coupled with the occasional intraday swing trade suit part-timers better.
Know what you trade
  • #2,323
  • Jul 13, 2022 8:07pm Jul 13, 2022 8:07pm
Some great work Mixedbags and BW, and while not active posting recently I sure look in.


Some quick trades this morning (I don't call them scalps, I just call them trades these days lol).


2 x 25p, scaled in for a 2nd entry when direction was satisified, for a total 50p morning (includes all comm+spr). Total time in market 21 mins.

Done now till an hour before Franky. Trade well, trade safe folks.

.
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  • #2,324
  • Jul 13, 2022 8:50pm Jul 13, 2022 8:50pm
Quoting TimeTells
Some great work Mixedbags and BW, and while not active posting recently I sure look in. Some quick trades this morning (I don't call them scalps, I just call them trades these days lol). 2 x 25p, scaled in for a 2nd entry when direction was satisified, for a total 50p morning (includes all comm+spr). Total time in market 21 mins. Done now till an hour before Franky. Trade well, trade safe folks. . {image}
Nice trade Pete. Cheers
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Know what you trade
  • #2,325
  • Jul 13, 2022 10:22pm Jul 13, 2022 10:22pm
Textbook High probability trade....
Massive RR ratio off the 1M
Picture says it all...

BTW these trades happen every single day on currencies, indices, metals, crypto and oil.....

Patterns...Price...Time...

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Master your Mind,,,Master the Market
  • #2,326
  • Jul 13, 2022 11:32pm Jul 13, 2022 11:32pm
Quoting BWilliam
{quote} Nice trade Pete. Cheers {image}

Hi Jason,
Thank you sir, I see yourself, Mbags & Kev/Blue AND others are showing traders here a terrific and wider viewpoint of understanding of what is possible in Forex.
Keep up the great work folks.
  • #2,327
  • Jul 14, 2022 7:07am Jul 14, 2022 7:07am
Hi All,

A couple of trades taken on GBP/JPY during London Session. First trade had RN, PFH and ADH. The second trade was at LH and downward momentum. Both hit the marked targets. Not sure if they were the best setup but it worked out.

Regards
Dennis
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  • #2,328
  • Jul 14, 2022 8:07am Jul 14, 2022 8:07am
Quoting mixedbags
{quote} I trade with M1 charts {image} Direction is correct but execution for opening and closing is bad as I busybody in the kitchen. {image}In trading there is no IF
I'm trying to make something out of these intriguing charts...:

  1. you're fading the first move of the day ; when did you know the right direction; before or after the session break?
  2. all these lines...; is it important when they'll be hit?

Thank you!

  • #2,329
  • Edited 9:25am Jul 14, 2022 9:11am | Edited 9:25am
Just find some proxy. I wish I could give, but that's my 16 hours a day (1,5 year) research Exit when the proxy hits the limit or enter when the proxy is in the zone. Every one it's own way. But search the proxy from real life. I don't know if you find that or not,but I think it's worth trying
  • #2,330
  • Jul 14, 2022 9:24am Jul 14, 2022 9:24am
Quoting Ihlas
Just find some proxy. I wish I could give, but that's my 16 hours a day research Exit when the proxy hits the limit or enter when the proxy is in the zone. Every one it's own way. But search the proxy from real life.
Well, thank you....
first thing: trying to understand what you mean by a proxy...
Is it correlation? (like EU-GU)
  • #2,331
  • Jul 14, 2022 9:27am Jul 14, 2022 9:27am
Quoting Onra
{quote} Well, thank you.... first thing: trying to understand what you mean by a proxy... Is it correlation? (like EU-GU)
On the surface it means correlation, but it's deeper than that. I know I'm writing in riddles, but you know what ...

Overvaluation/Undervaluation is according to what? For example, USDCAD, USDCHF is incredibly overvalued same as USDJPY. The question is according to what it's overvalued/undervalued. And the reason for that. Balancing? 50%? But it's deeper than that.
  • #2,333
  • Jul 14, 2022 10:37am Jul 14, 2022 10:37am
Nowadays I understand @fti's teachings from The Art of War. It's in fact about targets. Lose the battle win the war.
  • #2,334
  • Jul 14, 2022 11:14am Jul 14, 2022 11:14am
Quoting Ihlas
Nowadays I understand @fti's teachings from The Art of War. It's in fact about targets. Lose the battle win the war.
IMHO, fti's presentation on The Art of War was not about targets (not even close, actually). In fact, fti would view the idea of targets as being ridged thinking. But, the first 300 pages (or so) of his thread are the best presentation on trading on FF and maybe anywhere on the internet. I miss fti, and I'm sure you do, too! Good trading!
  • #2,335
  • Edited 11:51am Jul 14, 2022 11:39am | Edited 11:51am
Quoting GEfx
{quote} IMHO, fti's presentation on The Art of War was not about targets (not even close, actually). In fact, fti would view the idea of targets as being ridged thinking. But, the first 300 pages (or so) of his thread are the best presentation on trading on FF and maybe anywhere on the internet. I miss fti, and I'm sure you do, too! Good trading!
Yes, it depends on the trading style of somebody. For me it's about unfinished business. I agree that his thread is best presentation on FF and on the internet. Why I say targets? Because I have found something about real targets. (unfinished business or negative orders in their orderbook) It's not about what they call every HL, HH as targets. But some real life context in it. Assuming that every HH and LL,etc as targets is wrong for me. I think he would agree that every pair has different rhythm. As you said I have the interpretation of narrative (about your post), it will hit the target 100%. And it's not about perfect entry, but about making money; that's why I say win the war.

And I know I shouldn't be saying 100%, but it can't be less than 100%. Happy trading!!!
  • #2,336
  • Jul 14, 2022 11:51am Jul 14, 2022 11:51am
Quoting Ihlas
Nowadays I understand @fti's teachings from The Art of War. It's in fact about targets. Lose the battle win the war.
Thanks man!
This book was mentioned several times on Elitetrader as well, so there's definitely something in it...
btw your 1,5 years X 16 hours proved to be more productive than my 16 years X 1,5 hour!
  • #2,337
  • Jul 14, 2022 11:58am Jul 14, 2022 11:58am
Quoting Onra
{quote} Thanks man! This book was mentioned several times on Elitetrader as well, so there's definitely something in it... btw your 1,5 years X 16 hours proved to be more productive than my 16 years X 1,5 hour!
Wow whole 16 years, I admire your persistance and desire. Maybe that's because I maybe more energetic at my 27 The book might be useful how to manage the orders.
  • #2,338
  • Jul 14, 2022 1:13pm Jul 14, 2022 1:13pm
Quoting Ihlas
{quote} Yes, it depends on the trading style of somebody. For me it's about unfinished business. I agree that his thread is best presentation on FF and on the internet. Why I say targets? Because I have found something about real targets. (unfinished business or negative orders in their orderbook) It's not about what they call every HL, HH as targets. But some real life context in it. Assuming that every HH and LL,etc as targets is wrong for me. I think he would agree that every pair has different rhythm. As you said I have the interpretation...
I think I understand your point. I'm sure fti will be smiling if he knows his teachings helped you make money. Best wishes and good trading!
  • #2,339
  • Jul 14, 2022 3:46pm Jul 14, 2022 3:46pm
Let's eliminate short term targets
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  • #2,340
  • Jul 15, 2022 1:19am Jul 15, 2022 1:19am
Quick short scalp on AJ. 10 piperonis. Not the amount but the time in and out. Easy trade vs hard trade. Take your pick.
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