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Flying Dutchman

  • #6,081
  • Mar 10, 2023 5:10pm Mar 10, 2023 5:10pm
Quoting TimeTells
Every moment on every chart has potential. I prefer to wait until traders & the market get excited at 'whatever' level, and then they begin to 'dook it out'. If the level forms into market structure, and is then broken and re-tested these levels are nice enough entries for me. Then its, targets, targets, targets for this trader lol. Saturday morning is always a let's review New York behaviour for me lol (as I was sleeping then). . {image}


meh ... we didn't like that run up ...
Mark ... Everything you have been told is a LIE
  • #6,082
  • Mar 10, 2023 8:14pm Mar 10, 2023 8:14pm
Quoting dinpappa
{quote} hey ive read ur posts, do u trade like stacey on youtube? seems quite similar, nice job
Thanks. I strongly believe, a trader's edge lies in his OWN PAIR OF EYES to see the market. I have been developing mine which is inspired by SOME of the concepts from STACEY, ICT, TRADERATHOME and so many GOLD NUGGETS from FF. Reading a DYNAMIC (live) chart is completely different from reading a STATIC (posted) chart. However, I try to annotate as much as possible while posting my STATIC chart, and so do others in this thread. I am glad that you liked it.
Success = Practice + Patience + Persistence
  • #6,083
  • Mar 11, 2023 2:24am Mar 11, 2023 2:24am
Et al, since Andy stopped ignoring me I take it that he's allowed me to post on this thread.

I have posted a lot of my thoughts about forex trading based on my 8years dedicated research work.
You can read my history posts on Andy's thread which I have remained consistent with what I wrote.
Although I am aware they are controversial, which is different from mainstream opinion.

I make this important post because I think it's important this message is delivered to FF. I have the right to express my opinion. You are entitled to your opinion. I write in plain English. Pls don't misrepresent the meaning and message I put forward.

At no time is this post directed at anyone specific.
This post is consistent with everything I wrote on Andy's thread.

This post should mark the last post I make on this thread.

Best wishes to everyone, may you be blessed with green pips.

Cheers
BWilliam

https://www.forexfactory.com/thread/...7#post14356547
Quoting BWilliam
{quote} Hi Ihlas, you wrote it's very dangerous to rely only on candlesticks. I agree with you 100%.

1. Candlestick patterns,
2. types of candlestick(eg. pinbar, marubeni candle), and
3. Price action(candlesticks in action)
All 3 fall under candlesticks.

Somewhere in retail sector trading history some people introduced and popularised this form of technical analysis. It had captured the imagination of the retail traders, and it has become a main go to tool in their trading toolbox which they can't live without. Almost every trader is a screen...
Know what you trade
  • #6,084
  • Mar 11, 2023 2:44am Mar 11, 2023 2:44am
Quoting BWilliam
Et al, since Andy stopped ignoring me I take it that he's allowed me to post on this thread. I have posted a lot of my thoughts about forex trading based on my 8years dedicated research work. You can read my history posts on Andy's thread which I have remained consistent with what I wrote. Although I am aware they are controversial, which is different from mainstream opinion. I make this important post because I think it's important this message is delivered to FF. I have the right to express my opinion. You are entitled to your opinion. I write...
What works then? I have messaged you mate
  • #6,085
  • Mar 11, 2023 2:49am Mar 11, 2023 2:49am
Quoting dinpappa
{quote}
What works then? I have messaged you mate

Fair question.
  • #6,086
  • Mar 11, 2023 2:58am Mar 11, 2023 2:58am
Quoting BWilliam
Et al, since Andy stopped ignoring me I take it that he's allowed me to post on this thread.

Quoting BWilliam
Hi Ihlas, you wrote it's very dangerous to rely only on candlesticks.
I agree with you 100%.
{quote}


Hi BW,

You are always welcome to post here as far as I know, and you always have been.

(I reckon Andy only put you on a short furlough leave as for some reason you posted on his thread for 20 consecutive hours the other day,
a record here I think).

I am happy you are back for many reasons, but mainly cause you make me smile. Post on, why not.


Now I imagine this is likely NOT a point of contradiction of yours, but just for others maybe reading your posts here later in the future
they will see that early this week you WERE in favour of candlesticks, but now on Ihlas thread you agree 100% they are dangerous.

Should we ourselves keep examining & exploring on here your own, 4hr intent Candlestick,
that was recommended by you during the week. Can you clarify please.


It is this post you linked to above that has me asking these questions

“Hi Ihlas, you wrote it's very dangerous to rely only on candlesticks. I agree with you 100%.”


Myself I probably would agree with this latest statement of yours on candlesticks.
Yet you have encouraged us to seek & study a four hour candlestick. The Intent candlestick.

Have you changed your mind now on the intent candlestick, or is that candlestick an exception?
  • #6,087
  • Edited 3:48am Mar 11, 2023 3:22am | Edited 3:48am
Quoting TimeTells
{quote} Hi BW, You are always welcome to post here as far as I know, and you always have been. (I reckon Andy only put you on a short furlough leave as for some reason you posted on his thread for 20 consecutive hours the other day, a record here I think). I am happy you are back for many reasons, but mainly cause you make me smile. Post on, why not. Now I imagine this is likely NOT a point of contradiction of yours, but just for others maybe reading your posts here later in the future they will see that early this week you WERE in favour...
This is why retail traders lose consistently - Confusion.

Blind leading the Blind. Your number 1 indicator is your EYES, until you see what is clearly in front of you, for what it is, you will not be able to make any

headway.

Unfortunately, we are encouraged into covering our charts with the latest fancy indicators that can tell the future, apparently - How is that possible ?

You wouldn't go to a 5 star michelin restaurant, order the finest meal they have then cover it in Brown Sauce or Tomato Ketchup ?

Anyway, If you had such a thing the Banks would be breaking down your door to hire you.

Candlesticks, Line Chart, Bar Chart, all they tell you is where price currently is at and where it has been in the past.

It is how YOU interpret that information, you derive a context of what is happening in the broader sense and

as a speculator anticipate what price is likely to do next. We deal in Probabilities.

But in the much larger picture the "Ocean" that is a 7 Trillion dollar market, our trades are insignificant, we are in an inflatable dingy, we are plankton.

In fact retail is less than 5% of this huge market. This market is dominated by the Commercials, Huge Industries, Banks, Institutions, Governments & the like.

They can & do move the market dealing in "yards" (1 Billion ) at a time, not gambling but in the course of business.
It never gets easier, you just get better
  • #6,088
  • Mar 11, 2023 3:52am Mar 11, 2023 3:52am
Quoting dinpappa
{quote} What works then? I have messaged you mate
A minimum of 100,000 hours of studying the charts - No shortcuts.

If you are here for excitement, go to a casino, at least you get Free Coffee & Sandwiches.
It never gets easier, you just get better
  • #6,089
  • Mar 11, 2023 3:57am Mar 11, 2023 3:57am
Quoting Shabs19
{quote} A minimum of 100,000 hours of studying the charts - No shortcuts. If you are here for excitement, go to a casino, at least you get Free Coffee & Sandwiches.
Haha true, i think im about ~5-7000 hours studying charts and reading about trading.
And thats a few hours per day, for like 4-5 years.
So to reach 100,000 hours, it takes basically all your life haha ,but i get ur point =D

What do you think of the liquidity sweep strategy that many people here talk about? Like a daily low, price goes down, starts going back up again = good buy, vice versa..
  • #6,090
  • Mar 11, 2023 3:59am Mar 11, 2023 3:59am
Question
Do we trade on a level playing field
We trade against Banks
So its said many of us retail trades lose
So what have they got and use that we do not have ?
  • #6,091
  • Mar 11, 2023 4:05am Mar 11, 2023 4:05am
Quoting OAPDave
Question Do we trade on a level playing field We trade against Banks So its said many of us retail trades lose So what have they got and use that we do not have ?
Yards & Yards of money and they don't care if they Win or Lose, They still make Commisions.

Now how do you, with £5000 in your trading account compete with that ?

By the way, we dont trade against the Banks, they would eat you alive. We trade with our Brokers, do you know about the "B" book ?
It never gets easier, you just get better
  • #6,092
  • Mar 11, 2023 4:10am Mar 11, 2023 4:10am
Quoting TimeTells
{quote} Fair question.
Off topic
Remember our conversation the other day about our miss spent youth
Without going into great length
Bookies like us to play Slots of all shapes and sizes
Why
Because their Algo's are programmed in their favour
Now if we play
Live physical events with our own edge and become a consistent winner
Our reward after a very short time is to get
Banned as an un economical customer
  • #6,093
  • Mar 11, 2023 4:11am Mar 11, 2023 4:11am
Quoting dinpappa
{quote} Haha true, i think im about ~5-7000 hours studying charts and reading about trading. And thats a few hours per day, for like 4-5 years. So to reach 100,000 hours, it takes basically all your life haha ,but i get ur point =D What do you think of the liquidity sweep strategy that many people here talk about? Like a daily low, price goes down, starts going back up again = good buy, vice versa..
Stop hunts, Fake moves, trapped traders, is where you find liquidity ie. willing traders that will give you their cash.

Don't be the liquidity.
It never gets easier, you just get better
  • #6,094
  • Mar 11, 2023 4:13am Mar 11, 2023 4:13am
Quoting Shabs19
{quote} Yards & Yards of money and they don't care if they Win or Lose, They still make Commisions. Now how do you, with £5000 in your trading account compete with that ? By the way, we dont trade against the Banks, they would eat you alive. We trade with our Brokers, do you know about the "B" book ?
No mate I am just a novice trader having a bit of fun
Do not take it to serious
  • #6,095
  • Mar 11, 2023 4:17am Mar 11, 2023 4:17am
Quoting Shabs19
{quote} Stop hunts, Fake moves, trapped traders, is where you find liquidity ie. willing traders that will give you their cash. Don't be the liquidity.
I assume you mean, that you find value in trading in the opposite of the liqudity, or have i misunderstood you?
Trapped traders getting faked out, and then you enter in the opposite move..
  • #6,096
  • Mar 11, 2023 4:18am Mar 11, 2023 4:18am
Quoting OAPDave
{quote} Off topic Remember our conversation the other day about our miss spent youth Without going into great length Bookies like us to play Slots of all shapes and sizes Why Because their Algo's are programmed in their favour Now if we play Live physical events with our own edge and become a consistent winner Our reward after a very short time is to get Banned as an un economical customer
No - any broker would be foolish to ban you. Why on earth woud they do that ?

If you were consistently winning, that means you are a long term customer of theirs and will only bet larger & larger over time.

Remember Brokers have a hard time recruiting new clients due to the high failure rate of retail.

You would just get moved to the A Book & your trades would be aggregated into their trades with the Liquidity Providers.
It never gets easier, you just get better
  • #6,097
  • Mar 11, 2023 4:20am Mar 11, 2023 4:20am
Quoting dinpappa
{quote} I assume you mean, that you find value in trading in the opposite of the liqudity, or have i misunderstood you? Trapped traders getting faked out, and then you enter in the opposite move..
If you are looking for short answers, then you are not prepared to study.
It never gets easier, you just get better
  • #6,098
  • Mar 11, 2023 4:21am Mar 11, 2023 4:21am
Quoting OAPDave
{quote} Off topic Remember our conversation the other day about our miss spent youth Without going into great length Bookies like us to play Slots of all shapes and sizes Why Because their Algo's are programmed in their favour Now if we play Live physical events with our own edge and become a consistent winner Our reward after a very short time is to get Banned as an un economical customer

Oh yeah Dave, the High Street Bookie Betting shops hate a racehorse winner hahaa.

In my day they only raced twice a week, Saturday & Wednesday and I attended all the city meetings. Nowadays it is wall to wall and 7 days a week, what hope has the ravenous punter now (ie very little).

As I dressed casual I was always in the Public Area but the top end Bookies were on what they called the Rails which straddled the Members & the Public areas.
I used to love hanging around up close to the Rails, not so much to see/hear what the Owners & Trainers were backing, as i had my own firm (maths) prices that I challenged the market with. BUT more to see how the Bookies responded to Big Bets. One day an owner had $10k on their one horse (80's equiv, now $40k i guess) and the Bookie took the bet and then put the price out LONGER and asked the owner if he wanted a 2nd try lol. All bluff, mind games, fakes 'n' flips, very similar to what our markets do now on currencies lol. Test the resolve of the punter (trader) .

By the 2000's i was punting on Betfair by computer and never went out to the track as the race was beamed by Sky into your office, with close ups, replays, slow motion etc BUT I really missed seeing (smelling, yep) the neddies. Oh well.

GJ yesterday. Price started at Day Ope, moved up 200 pips in the frenzy, ended the day essentially back where it started LOL. But many and much was won or lost during those gyrations (the market mechanics we see day in day out).

All a game really in the end. TRADE SAFE is all I recommend.
  • #6,099
  • Mar 11, 2023 4:26am Mar 11, 2023 4:26am
Quoting TimeTells
{quote} Oh yeah Dave, the High Street Bookie Betting shops hate a racehorse winner hahaa. In my day they only raced twice a week, Saturday & Wednesday and I attended all the city meetings. Nowadays it is wall to wall and 7 days a week, what hope has the ravenous punter now (ie very little). As I dressed casual I was always in the Public Area but the top end Bookies were on what they called the Rails which straddled the Members & the Public areas. I used to love hanging around up close to the Rails, not so much to see/hear what the Owners & Trainers...
All you can smell now is your own Sweat ........................

It never gets easier, you just get better
  • #6,100
  • Mar 11, 2023 4:28am Mar 11, 2023 4:28am
Quoting OAPDave
{quote} No mate I am just a novice trader having a bit of fun Do not take it to serious
All Good mate here - Never serious, love a good natter.

I better stop posting - I might get suspended.
It never gets easier, you just get better
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