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Flying Dutchman

  • #9,561
  • Oct 17, 2023 9:31am Oct 17, 2023 9:31am
Quoting bluesteele
Waiting....... 3 US indices All a little different this morning {image} {image} {image} {image}
Being a simple soul this is what I saw. I usually wait for things to calm after the off (open) then put in any boxes I find and wait for later breaks with my approach.
and Open lines are watched and contained the action for a while. Break short - loser then break long = profit. waiting on a box to be broken now,
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every Saint has a past. Every Sinner has a Future
  • #9,562
  • Oct 17, 2023 9:35am Oct 17, 2023 9:35am
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Master your Mind,,,Master the Market
  • #9,563
  • Oct 17, 2023 9:38am Oct 17, 2023 9:38am
Quoting turnip15
{quote} Being a simple soul this is what I saw. I usually wait for things to calm after the off (open) then put in any boxes I find and wait for later breaks with my approach. and Open lines are watched and contained the action for a while. Break short - loser then break long = profit. waiting on a box to be broken now, {image}
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Man I got eyeballs looking in at me now !!! Wheres the Peanuts Mister !!!
Master your Mind,,,Master the Market
  • #9,564
  • Oct 17, 2023 10:08am Oct 17, 2023 10:08am
Quoting TimeTells
{quote} Cheers Shabs, (edit: and turnip) Just to clarify my own thought processes I don't actually focus on either specific pips or cash. I focus on taking a profit. Over & over. Usually it's in between two confluence targets after the market has begun moving. The pips & cash are variable to the circumstances. I didn't watch turnips vid of what his guy does sorry, so I missed the context.
Know what to get you for Christmas ......

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It never gets easier, you just get better
  • #9,565
  • Oct 17, 2023 10:09am Oct 17, 2023 10:09am
Still not a shiny apple
Stuck in the Matrix....off the radar 100% until EOD than check levels,,,,,

Birds and squirrels fed...Coffee hot...Plotting .....
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Master your Mind,,,Master the Market
  • #9,566
  • Oct 17, 2023 10:38am Oct 17, 2023 10:38am
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  • #9,567
  • Edited 3:40pm Oct 17, 2023 3:16pm | Edited 3:40pm
Quoting Shabs19
{quote} Know what to get you for Christmas ...... {image}

Hahaa, cheers Shabs

This is a funny industry business we all play in.

I am always wary of the Maxims & blanket statements that seem to pervade the industry, or are generated by the industry for new traders .

For example "cut your losers winners short but let your winners run" is just one of the many we may read & hear about.

But without the context of where the market currently is (price/time/session/day) & why the market is doing something right there,
then these are not dangerous ideas really at all, but just not perfect.

In all my (own personal studies) I have determined (and others may determine something different from their own studies) that these Maxim things
ALL WORK about the same as the set and static indicators / methods / systems etc, and that is

about 50% of the time

There is another Maxim used by the industry (but NOT me lol ) and that is

"You can never go broke by taking profit"

This cannot be refuted right , how could it be wrong hahaaa.
But yet again the industry can lead new traders down the garden path, because the real saying should be something like (imho)

"You can never go broke taking profit,
but only IF
the collective sum of all your losses is LESS than the collective sum of all your winners"

So again we hear industry Maxims that are only 50% correct.

It must be a hard test for all new comers to this trading business to filter out the real stuff from the half-correct (which is also by definition though, half-wrong )

Trade safe, trade well folks
  • #9,568
  • Oct 17, 2023 3:27pm Oct 17, 2023 3:27pm
And some multiple confleunces throught the day.

.
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  • #9,569
  • Oct 17, 2023 6:21pm Oct 17, 2023 6:21pm
Quoting bluesteele
{quote} Hi DP, Im in Canada,,,based out of Canada... I dont trade GJ too much these days but have been watching the spread last few days on one of my brokers. It varies from 0.6pips to 1.2 right now during Asia.. *****haha Just saw it flick 1.3 then 1.5 back to 0.9**** But depending on time of day ive seen it 1.6-1.8 i may be off a tick either way...and am not constantly monitoring it... Commissions are $2 a lot Just was thinking long long long ago I used to pay 6-8 pips spread on GJ.. Difficult days. GJ was 200-220 or something like that.. Cheers...
Hi... 0.9 to 1.5 is not bad.. commissions would bring it up to 1.1 to 1.7, still not bad.. The province I live in, ON have been cut out by a lot of brokers because of "International trading platforms pay over $10m in OSC settlements", as a result, brokers have been kicking off ON clients and refusing ON clients... Right now, there are only about 6 or 7 commonly known forex brokers (not including banks) regulated by OSC, so in a sense, not much competition to cause the lowering of spreads and I think they know it.

There are brokers that accept clients from other provinces, but not ON. I'll simply have to wait until spreads in GJ becomes scalpable or until regulation is not so stiff or $ or as TimeTells suggest, look for tradable opportunities that considers the TF and spread.

Apologies to the thread mods for getting off topic... so here is some indi... they have been modded to show the opening of daily, AUD, LON and US opens... you mentioned to watch these levels.
Attached File(s)
File Type: ex4 Daily AUS open line.ex4   9 KB | 317 downloads
File Type: mq4 Daily AUS open line.mq4   2 KB | 369 downloads
File Type: ex4 Daily LON open line.ex4   10 KB | 378 downloads
File Type: mq4 Daily LON open line.mq4   2 KB | 381 downloads
File Type: ex4 Daily open line.ex4   9 KB | 333 downloads
File Type: mq4 Daily open line.mq4   2 KB | 360 downloads
File Type: ex4 Daily US open line.ex4   10 KB | 336 downloads
File Type: mq4 Daily US open line.mq4   2 KB | 381 downloads
  • #9,570
  • Oct 17, 2023 6:26pm Oct 17, 2023 6:26pm
What the indis look like
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  • #9,571
  • Edited 7:22pm Oct 17, 2023 7:04pm | Edited 7:22pm
Quoting deafpostman
What the indis look like {image}

Nice chart work DP.

Once I reached a conclusion (maybe right, maybe wrong, who knows lol) that it was NOT the lines that make the market price ‘do something’ at them, but more likely what OTHER traders do at those lines/zones by entering OR exiting their own trades that sets the next price direction moves in motion.

As when (any) liquidity enters the market it is like food to a starving puppy lol for the market and things can begin to happen.

If I can settle myself down LOL & hold a little patience till it becomes clearer what the next ‘temporary’ price direction might be (towards the next either above or below target) then a trade may show up as viable (ie greater than a 50% chance).

Market structure/break/re-test styles likes Shabs keeps us patient I like to imagine.

What TP you ultimately elect to shoot for is then you own choice
And which you can refine over time to suit yourself best (ie no one can or should tell you what to aim for).

We are entirely on our own as we push the trade button. And that is the mystery & hopefully mastery that unfolds.

All the best, trade safe.

---
EDIT
(edit: ps we can speed up our learning process for what suits us best, if we employ a Trade Simulator, over the weekends is ok too, so that we can speed up or slow down the candles on a chart to accelerate up to our own trade time sessions and then observe day after day after day of what has happened in the past 'around' any targets until we find repetitive market behaviours. Any trader trying to advance their knowledge is at a huge disadvantage imo having to wait in "real time" for the candles to build over a whole day on a live chart - which can be much worse than watching paint dry, when we can easily accelerate our learning curve - imho)
  • #9,572
  • Oct 18, 2023 1:46am Oct 18, 2023 1:46am
Quoting TimeTells
{quote} For example "cut your losers short but let your winners run"
Cut your losers short = don't move you stop away from price. Once, twice, third time and ... then is pain to much and you finally close a trade and market makes reversal.

Let your winners run = if you are already in winning trade, maximize it with trail stop, hold overnight or use targets from higher timeframe chart.
I might be wrong , I have been wrong before
  • #9,573
  • Oct 18, 2023 2:30am Oct 18, 2023 2:30am
Got in a scalp from levels
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every Saint has a past. Every Sinner has a Future
  • #9,574
  • Oct 18, 2023 2:52am Oct 18, 2023 2:52am
Quoting Mandariin
{quote} Cut your losers short = don't move you stop away from price. Once, twice, third time and ... then is pain to much and you finally close a trade and market makes reversal. Let your winners run = if you are already in winning trade, maximize it with trail stop, hold overnight or use targets from higher timeframe chart.

Tis a very long discussion for me sorry.
It goes into variabilities eg on how short is short etc & does that shortness change or vary based on the different trading sessions or current market volatility etc etc etc
I respect your thoughts & input as there is actually no wrong way to trade, if that is 'our' way and how we trade.
All the best sir.
  • #9,575
  • Oct 18, 2023 3:18am Oct 18, 2023 3:18am
Quoting turnip15
Got in a scalp from levels {image}
Back up to Kevins squirrel and done for the morning. A better day than yesterday's scratching around and via a method that costs nothing thanks to the free stuff on FF ( this thread and one other in particular). Add your own discipline and patience - the hard bit imho.
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every Saint has a past. Every Sinner has a Future
  • #9,576
  • Oct 18, 2023 3:25am Oct 18, 2023 3:25am
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  • #9,577
  • Oct 18, 2023 3:31am Oct 18, 2023 3:31am
Quoting OAPDave
{image}
Hi Dave,
Can I ask if they are swingman's fractals ?
  • #9,578
  • Edited 3:52am Oct 18, 2023 3:37am | Edited 3:52am
Quoting TimeTells
{quote} Hi Dave, Can I ask if they are swingman's fractals ?
No Problem
Yes they sure are

ps
We have a little more ADR left
so will it continue up
or
Reverse back down to make lower lows ?
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  • #9,579
  • Oct 18, 2023 4:03am Oct 18, 2023 4:03am
Quoting OAPDave
{quote} No Problem Yes they sure are ps
We have a little more ADR left so will it continue up or Reverse back down to make lower lows ? {image}

Plenty of ADR left, often they leave the rest (but not always hahaaa) for the New York crew to run it either way
We wait & see
But not me tonight, I have my (self imposed lol) quota, so
Will rest & relax now and some music

Trade safe all

.
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  • #9,580
  • Edited 9:59am Oct 18, 2023 4:31am | Edited 9:59am
Quoting TimeTells
{quote} Plenty of ADR left, often they leave the rest (but not always hahaaa) for the New York crew to run it either way We wait & see But not me tonight, I have my (self imposed lol) quota, so Will rest & relax now and some music Trade safe all . {image}
Just to make you Smile
Or most likely CRY with laughter
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