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  • #2,481
  • Edited 4:44pm Aug 17, 2022 3:52pm | Edited 4:44pm
[quote=turnip15;14104045]{quote} yes - Toms new book is out but it is psychology based not a treatise on trading methods, just so that people are aware. His videos and site are worth perusal imho.
Hey mate

Although posted in good faith would you remove the link, otherwise people will be calling this thread commercial and asking for it to be “relocated”!
Having said that I know someone who has read it, and it is a very good read.

Cheers
  • #2,482
  • Aug 17, 2022 3:56pm Aug 17, 2022 3:56pm
Quoting spzd
This thread is an oasis in the FF desert. Thanks to all.
Glad you enjoyed reading through the posts.
It’s a self governed open miked thread with contributions from a collection of misfits and geniuses.

Andy
  • #2,483
  • Aug 17, 2022 3:56pm Aug 17, 2022 3:56pm
Quoting moodybot
{quote} Hey mate Although posted in good faith would you remove the link, otherwise people will be calling this thread commercial and asking for it to be “relocated”! Having said that I know someone who has read it, and it is a very good read. Cheers
Apologies - links removed .
every Saint has a past. Every Sinner has a Future
  • #2,484
  • Aug 17, 2022 4:11pm Aug 17, 2022 4:11pm
Quoting moodybot
{quote} Glad you enjoyed reading through the posts. It’s a self governed open miked thread with contributions from a collection of misfits and geniuses. Andy
I have been following along as best as I could while working (70+ hrs a week for about a year). Have "retired" and now have time to do this game of trading properly. What is layed out here by the group fits right in with where I am heading.
Mark ... Everything you have been told is a LIE
  • #2,485
  • Aug 17, 2022 7:42pm Aug 17, 2022 7:42pm
Quoting spzd
{quote} I have been following along as best as I could while working (70+ hrs a week for about a year). Have "retired" and now have time to do this game of trading properly. What is layed out here by the group fits right in with where I am heading.
There have been some amazing posts within the thread. The contributions from various Factory members are, I think, unmatched.

You’ll come across some silliness, mostly from me, usually after my chain had been rattled and the older I get the shorter the chain!

The thread is a spin off from my old Real or Algo thread.

I just happen to think the market structure that we the retail are presented with is just a self contained, highly manipulated entity, mathematically based with zero influence by volume etc.

In other words, an Algo.

Some agree, some disagree, and some believe in magical volume, either way the thread has no bias or agenda, just a collection of thoughts.

Andy
  • #2,486
  • Aug 17, 2022 8:30pm Aug 17, 2022 8:30pm
Quoting whitesta
{quote} Would like you to take a look at the chart i am posting to see why this one may not have worked. It had some confluence and looked good for a sell trade. I didn't trade it and only reason i could come to was that the daily and weekly candle was moving up.
You did not direct this to me but thought I'd add my thoughts to your question. The target on the GY today was 163.56 to 163.65 (this target range was a clear target and existed on my chart for a few days now, in case anyone who thinks lines are drawn in retrospect or after the fact). This target area is in play until it is hit or broken, therefore we were looking for buy opportunities today. We traded the GY up from 163.01, to 163.53. After the target was hit, and given past PA when this target area was hit, we started looking for sell (which is what you were anticipating ahead of the target). We started selling at 162.96, and I am still holding on to this trade. I'd be happy to post some charts of you are interested. Otherwise, I'll defer charts to Bluesteele.
  • #2,487
  • Aug 17, 2022 9:45pm Aug 17, 2022 9:45pm
Quoting moodybot
{quote} There have been some amazing posts within the thread. The contributions from various Factory members are, I think, unmatched. You’ll come across some silliness, mostly from me, usually after my chain had been rattled and the older I get the shorter the chain! The thread is a spin off from my old Real or Algo thread. I just happen to think the market structure that we the retail are presented with is just a self contained, highly manipulated entity, mathematically based with zero influence by volume etc. In other words, an Algo. Some agree,...
Have been in the process of shedding the indicators for a while now. Getting close, but still use a couple crutches.

I agree with the algo description of the markets (any market). Even so, it keeps the markets functioning with stability.

Going to read the thread again as I know there are things I missed.

Thanks again moodybot (Andy), bluesteele (Kevin), TimeTells (Pete), and BWilliam (Jason).

Mark
Mark ... Everything you have been told is a LIE
  • #2,488
  • Aug 17, 2022 10:20pm Aug 17, 2022 10:20pm
When I first concluded the market is not/ does not move as we were led to believe was about 10 years ago. A data (news) release that was quite positive for whatever currency and the market would move in the opposite direction. That was my first "something is amiss here" moment, the realization that the "news" was just an excuse to move price.
Mark ... Everything you have been told is a LIE
  • #2,489
  • Aug 17, 2022 10:32pm Aug 17, 2022 10:32pm
Quoting spzd
When I first concluded the market is not/ does not move as we were led to believe was about 10 years ago. A data (news) release that was quite positive for whatever currency and the market would move in the opposite direction. That was my first "something is amiss here" moment, the realization that the "news" was just an excuse to move price.
Hi Mark !

As GeorgeAUS always said..."The news is used to Abuse" and I admit it never clicked with me until a few years back and I wholeheartedly agree now...Nowadays I avoid the news like a plague..Learned to sit on my hands and let the market settle a bit...15 years ago I was playing the news like a slot machine and an emotional rollercoaster LOL... straddles etc.. Had some good winners and streaks but blew it all up a number of times haha... Theres not much "stupid" I havent done numerous times

Cheers
Kevin
Master your Mind,,,Master the Market
  • #2,490
  • Aug 17, 2022 10:36pm Aug 17, 2022 10:36pm
Quoting GEfx
{quote} You did not direct this to me but thought I'd add my thoughts to your question. The target on the GY today was 163.56 to 163.65 (this target range was a clear target and existed on my chart for a few days now, in case anyone who thinks lines are drawn in retrospect or after the fact). This target area is in play until it is hit or broken, therefore we were looking for buy opportunities today. We traded the GY up from 163.01, to 163.53. After the target was hit, and given past PA when this target area was hit, we started looking for sell...
Hi GEfx,

Thanks for the reply. Yes would be great if you shared your chart with notes on them. Also the Targets you are referring to: are they previous LHs, HLs?? And why just those specific targets you mentioned.

Regards
  • #2,491
  • Aug 17, 2022 10:46pm Aug 17, 2022 10:46pm
Quoting bluesteele
{quote} Hi Mark ! As GeorgeAUS always said..."The news is used to Abuse" and I admit it never clicked with me until a few years back and I wholeheartedly agree now...Nowadays I avoid the news like a plague..Learned to sit on my hands and let the market settle a bit...15 years ago I was playing the news like a slot machine and an emotional rollercoaster LOL... straddles etc.. Had some good winners and streaks but blew it all up a number of times haha... Theres not much "stupid" I havent done numerous times Cheers Kevin
Lost count of all the "stupid" I have committed trading.

Thanks for the mention of Stacey Burke. Have been watching some of his vids and I like his basic method a lot. Fits in with how I see things now.

Take care all
Mark ... Everything you have been told is a LIE
  • #2,492
  • Aug 17, 2022 11:54pm Aug 17, 2022 11:54pm
Quoting whitesta
{quote} Hi Bluesteele, Hope you r doing fine. Firstly thanks for ur charts and tips on the thread. Would like you to take a look at the chart i am posting to see why this one may not have worked. It had some confluence and looked good for a sell trade. I didn't trade it and only reason i could come to was that the daily and weekly candle was moving up. I have put some points on the chart as to why i thought this was going to work. Any input would be appreciated. Regards {image}

Hi Whitesta....

I think that trade had possibilities.. there was definitely 25 pips in those swings a number of times...I traded the GJ in the US session.. I prefer the US as the other 2 sessions are SET...Therefore my trades generally become more narrowed on the best trade setups/probabilities... I also prefer to trade after London open and after US equity open. But that is not set in stone.

And quite honestly we are going to take losers.... the old keep the losses small

GEFX makes a good point on the 163.55-163.65 area... It is what I have closely marked up on my 4 hour chart...Its a responsive area.. GEFX is a very smart trader and Im sure he has a good explanation. For me its simply an area of high interest.

Anyhoo heres some charts marked up a bit....Timing Timing Timing...
4 hour gives us our AREA.... We know that very often Monday and Tuesday establish the high and low of the week... As price moved up thru London and into the US we had a chance of London SETTING the high....WAIT for US Equity open...Wait wait wait...Price moves to take out London high and establish the days high and the current weeks high.

Now were talking high probability, a reversal is imminent. We have 3 pushes (1 minute chart are clear).. As ive said before the market (algo) mechanics works on 3s...Whether its days ,hours ,3-15m bars, pushes etc...3s

So we have a Pin bar check...engulfing bar check..a pull back into the engulfment..check etc etc...
Absolute zero DD on 1st entry....All addons were made on 5 min bars... Missed my set tp by a whisker on the 19:00 bar lol..and waited an additional 2 hours for the last 3 trades TP to hit.

Hope the charts and markups help anyone who is interested...I trade simple..but highly effective...Find what works for you. If what I show resonates with you thats great if not thats cool too.

I apologize for being tardy with some replies to others.. I will get there

Cheers

Blue

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Master your Mind,,,Master the Market
  • #2,493
  • Aug 18, 2022 3:17am Aug 18, 2022 3:17am
Quoting bluesteele
{quote} Hi Whitesta.... I think that trade had possibilities.. there was definitely 25 pips in those swings a number of times...I traded the GJ in the US session.. I prefer the US as the other 2 sessions are SET...Therefore my trades generally become more narrowed on the best trade setups/probabilities... I also prefer to trade after London open and after US equity open. But that is not set in stone. And quite honestly we are going to take losers.... the old keep the losses small GEFX makes a good point on the 163.55-163.65 area... It is...
Thanks Bluesteele,

Very well explained. There was 20 odd pips during the London session and as u said we can't win em all. Your US session trade was spot on. Test book as they say, RN, PFH, Pin Bar, Engulfer. Timing is the key as well.

Regards
  • #2,494
  • Aug 18, 2022 8:25am Aug 18, 2022 8:25am
Quoting whitesta
{quote} Hi GEfx, Thanks for the reply. Yes would be great if you shared your chart with notes on them. Also the Targets you are referring to: are they previous LHs, HLs?? And why just those specific targets you mentioned. Regards
I think Bluesteele's analysis hits the mark really well.

I'll post my 4H chart for reference, which include target areas that have developed over time. I would note previous highs and lows, daily opens, etc on the 1H, but that data often gets lost/ignored during the day as PA rolls out. If a target shows up on a 4H chart, it can have the impact of a 10 foot wall on PA, whereas a target from the 1H chart is often like a street curb (easy for the market to step over as PA rolls along).

Sorry about the summary reply. I might add more when I have more time. Good trading!
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  • #2,495
  • Aug 18, 2022 9:17pm Aug 18, 2022 9:17pm
GJ - H4 : with some annotations - trust your own analysis.
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"Exchange of hands"
  • #2,496
  • Aug 18, 2022 9:24pm Aug 18, 2022 9:24pm
Interesting post this from another thread!

 

  1. https://assets.faireconomy.media/nfs...ar426855_1.gif RickM
  2. Joined Sep 2015 | Status: Member | 1,864 Posts

Quoting ryuryu
Ignored
The problem with the ICT teaching is its based on a false lie. They state price swings up or down at previous highs or lows to take out stops or additional liquidity that sits in those areas.

The problem is data that myself and ryuryu view prove there is little stops in those areas, and not much liquidity either. The data shows that in a 20 pip move down to an area full of stops (their theory), the amount of liquidity at the reversal amounts to no more that 5% of the total liquidity in the whole move.

THERE IS ACTUALLY NO STOPS WORTH CHASING.

So lets stop saying price swings up or down to take out stops - thats total bullshit, there is nothing there in most moves.

The whole move is rewarding, STOPS are just a waste of time chasing but apparently traders who have never actually sought out the data for themselves believe in stories without doing the correct homework.


So stops are bullshit, yep, liquidity zones are bullshit, yep I agree.

I'll take this further, so is volume.

The only thing moving the market, is an ALGO.

A programmed Algorithm.

That's all it is folks.

Its fake.

  • #2,497
  • Aug 18, 2022 10:27pm Aug 18, 2022 10:27pm
These two are very arrogant with their vol "data". When are they going to publish their treatise proving their claims.

ICT falls into the algo yes camp.

I would venture the vol group also think that when price goes up there are more buyers than sellers and down more sellers than buyers.

When in reality it is equal. So the whole more of one is a complete fallacy.
Mark ... Everything you have been told is a LIE
  • #2,498
  • Aug 18, 2022 11:15pm Aug 18, 2022 11:15pm
Quoting bilal1947
GJ - H4 : with some annotations - trust your own analysis. {image}
Excellent chart Mr B !

Alot of great information in your chart Bilal,,,,,For anyone that is reading check out Bilals thread
alot of great info and insights....

Cheers
Kevin
Master your Mind,,,Master the Market
  • #2,499
  • Aug 18, 2022 11:21pm Aug 18, 2022 11:21pm
Quoting spzd
These two are very arrogant with their vol "data". When are they going to publish their treatise proving their claims. ICT falls into the algo yes camp. I would venture the vol group also think that when price goes up there are more buyers than sellers and down more sellers than buyers. When in reality it is equal. So the whole more of one is a complete fallacy.

If a trade is placed, it's matched straight away. There is no "looking to the liquidity providers".. that's just old tosh, like volume.

Here's something. We are told there is no volume in Forex, its not real.

Yep, why not.

And the biggest Elephant in the room... there is no volume because it's not part of the Algo process, so they can't provide what isn't available.

Simples.
  • #2,500
  • Aug 18, 2022 11:54pm Aug 18, 2022 11:54pm
Quoting moodybot
{quote} If a trade is placed, it's matched straight away. There is no "looking to the liquidity providers".. that's just old tosh, like volume. Here's something. We are told there is no volume in Forex, its not real. Yep, why not. And the biggest Elephant in the room... there is no volume because it's not part of the Algo process, so they can't provide what isn't available. Simples.
Hi Andy, I should have left this forum. But I think I have to make this post for the sake of traders who want to succeed in this business.

If volume was the magic data, financial institutions and hedge funds who have access to such data will naturally trump retail traders, there's no level playing field. The regulators will not and cannot allow such imbalance field - it's their job to ensure good governance.

Furthermore, if you are an institutional trader there's no gain with this common available data.

Here's the crux of the issue about volume being the determinant. If historical traded volume directly determine future price direction as claimed, then trading becomes chicken feed to succeed. There's no need for sophisticated valuation and pricing models that institutional traders work with that cost billions of dollars. There's no need for academic study in this subject that award the Nobel prize.

It's outright idiotical stupid to think that you(rhetorical) have discovered this volume magic bullet in 2022.

When ignorance stoop so low beyond stupid and idiotic, it's time someone point this out - it's turned from a sick joke to disgraceful idiocy. I have to get this stupid pigs fly claim off my chest. Cheers
Know what you trade
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