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Flying Dutchman

  • #10,181
  • Jan 22, 2024 6:11pm Jan 22, 2024 6:11pm
A fellow whom I follow on twitter and listen to his trading podcast's from time to time.
Steven Goldstein.
https://alpha-mind.net/

New book to read on its way:

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Master your Mind,,,Master the Market
  • #10,182
  • Jan 22, 2024 9:36pm Jan 22, 2024 9:36pm
BoJ - no change
LOL


https://www.forexlive.com/centralban...cted-20240123/
BOJ quarterly report:

  1. Must be vigilant to financial, fx market moves and their impact on japan's economy, prices


I did enjoy the vigilance part, so far it has been awe inspiring for us onlookers
And now business as usual it seems, off we go
Trade Safe, trade well folks

  • #10,183
  • Jan 22, 2024 9:47pm Jan 22, 2024 9:47pm
Quoting TimeTells
BoJ - no change LOL https://www.forexlive.com/centralban...cted-20240123/ BOJ quarterly report: Must be vigilant to financial, fx market moves and their impact on japan's economy, prices I did enjoy the vigilance part, so far it has been awe inspiring for us onlookers And now business as usual it seems, off we go Trade Safe, trade well folks
BoJ: Keep watching !!

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Success = Practice + Patience + Persistence
  • #10,184
  • Jan 22, 2024 9:56pm Jan 22, 2024 9:56pm
Quoting fxpider
{quote} BoJ: Keep watching !! {image}

Always, fxp

A change is gonna come (one day I imagine)

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  • #10,185
  • Jan 25, 2024 4:09am Jan 25, 2024 4:09am
Barchart's cheat sheets, might be useful to some here ..quite nice for quick glance, especially if u don't want all that junk on your chart.

https://www.barchart.com/forex/quote...PY/cheat-sheet

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  • #10,186
  • Jan 25, 2024 8:18am Jan 25, 2024 8:18am
Quoting Danger-Mouse
Barchart's cheat sheets, might be useful to some here ..quite nice for quick glance, especially if u don't want all that junk on your chart. https://www.barchart.com/forex/quote...PY/cheat-sheet {image}
Thanks for sharing D-M
Barcharts is probably one of the best if not the best financial sites for technical info...

Cheers
Master your Mind,,,Master the Market
  • #10,187
  • Jan 25, 2024 10:01pm Jan 25, 2024 10:01pm
Quoting Danger-Mouse
Barchart's cheat sheets, might be useful to some here ..quite nice for quick glance, especially if u don't want all that junk on your chart. https://www.barchart.com/forex/quote...PY/cheat-sheet {image}

Hi D-M,

Thanks for the link.

Mate not that it really matters in the big scheme of things but my Pivot Points (Day, S1 etc etc) are showing a 10 pips difference to those BarCharts prices shown.

Which is why I usually say to traders that pivots, supports etc etc are of little real value by just their price listed alone.

What I mean is that I would usually just watch what happens to price when “other” traders get interested at and then DO something at some of these levels (buy or sell) which then might set the larger market into motion either piggybacking the direction or trading against the direction.

So I just call these levels Trader Attractors
Which then maybe draws in Liquidity and it is those next moves after the “liquidity attraction” that I then look at for any potential trades (depending on session & time of day etc).


While the listed “price” by BarCharts especially Day Pivots is not WRONG (nor are my own), they will be based on “their own price feed” from wherever -
of the Previous Days High/Low/Close which can vary from Broker to broker based on their own feeds and from where they obtain them.

So personally I will NEED to see them & where they are on a chart (rather than from someone elses numerical price listings).

And then it is not, for me, what I DO at the levels but more what others do and how the market then responds.

By using our own singular broker feed day after day we get to know their particular strengths & weaknesses & consistency in regards to our price feeds and we can then ignore the price listed as such (imo) and just work on how the market responds around them.

But it very was interesting for me to see another brokers feed mechanism.
And the 10 pips pivot variance again does not concern me if their price is a consistent 10 pips variance to mine all throughout the day.
But unless I get BarCharts feeds and use them exclusively myself then it is seeing the Attractors on my own chart (ie same broker feeds each day) which is preferable for me.

Cheers for the info pal. Trade well.
  • #10,188
  • Jan 26, 2024 3:22am Jan 26, 2024 3:22am
Quoting TimeTells
{quote} Hi D-M, Thanks for the link. Mate not that it really matters in the big scheme of things but my Pivot Points (Day, S1 etc etc) are showing a 10 pips difference to those BarCharts prices shown. Which is why I usually say to traders that pivots, supports etc etc are of little real value by just their price listed alone. What I mean is that I would usually just watch what happens to price when “other” traders get interested at and then DO something at some of these levels (buy or sell) which then might set the larger market into motion either...
Yes, as you say, they are only for reference and to see what price does at these levels. I wouldn't be placing lilit orders at these levels either. Actually, as far as pivots go, I haven't looked at them for many years (and that was one of the problems...different levels, different calculations etc)
  • #10,189
  • Jan 26, 2024 4:23am Jan 26, 2024 4:23am
Quoting TimeTells
{quote} And then it is not, for me, what I DO at the levels but more what others do and how the market then responds.
Market Structure will give you context to your Price Levels.
It never gets easier, you just get better
  • #10,190
  • Jan 31, 2024 6:06pm Jan 31, 2024 6:06pm
Just a quick visit (and the mandatory chart lol )


THE NEW MONTH BEGINS

Last month was pretty much the same as usual.
Market Price Runs to Highs then Lows, Fakes'N'Flips at the opens to offset both buyers & sellers, then Resumption to Direction.
Get our direction right and the train runs to stations (disembark wherever you prefer).


Trade safe, trade well folks, the new months' market targets will be setting up post London I imagine, who knows (maybe earlier or later ?)

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  • #10,191
  • Jan 31, 2024 6:50pm Jan 31, 2024 6:50pm
My day is over, will be back to see how pre-Franky sets up.

Market pushed up to the recent swing high (george target)
Today's high so far at the top was the fake'n'flip
Market then ran down to the BRN000 Station.
Over.

Did I get the full run. No.
I never do (and still working on that lol).
I did get my days requirements in-between tho and that'll do as I cannot just sit & watch charts all day (even tho they're open on the computer in the background).
Perhaps another chart this Friday, see how it goes.
all the best all

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  • #10,192
  • Feb 5, 2024 2:53pm Feb 5, 2024 2:53pm
Plenty of threads on FF nowadays discussing & showing some very logical & very good trade entry points.


I will just show (boring charts I know, they all look the same ) (some perceived) market mechanics & what the market seems to be seeking in its vicinities.

What are we looking for (the market, that is), en masse.

Trade safe, trade well folks

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  • #10,193
  • Feb 5, 2024 4:36pm Feb 5, 2024 4:36pm
Quoting TimeTells
Plenty of threads on FF nowadays discussing & showing some very logical & very good trade entry points. I will just show (boring charts I know, they all look the same ) (some perceived) market mechanics & what the market seems to be seeking in its vicinities. What are we looking for (the market, that is), en masse. Trade safe, trade well folks . {image}
Saying goes "many ways to skin a cat" .... Head & Shoulders pattern or Wyckoff Distribution ?
It never gets easier, you just get better
  • #10,194
  • Feb 10, 2024 4:58pm Feb 10, 2024 4:58pm
Nothing new to post really.
So maybe just something from the past that I have posted before.


An old EU chart from near 3 yrs ago.
And then an old fave of mine, how we see ourselves as traders (and how others might see us also hahaaa).

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  • #10,195
  • Feb 19, 2024 6:58am Feb 19, 2024 6:58am
Saw this on "Oldtraderman" thread:
An overlooked basic of trader education. Get this wrong and your trading will be a vale of tears

https://www.forexfactory.com/thread/...2#post14760982
Post 102


Hi all,

It's All In Your Head

Having considered the marginality of trading in my last post #99, as promised then I will this time take a look at the notion that trading is largely a mental game.

Trading presents a rather interesting set of circumstances for us to operate in: it is inherently uncertain - nobody knows for sure what is going to happen next - and it involves a high degree of randomness/unpredictability that means even the most thorough analysis is going to be proved wrong over and over again. This combination is what makes trading difficult and very taxing intellectually and emotionally. You do your best to figure it all out carefully and - Oh dear! - wrong again.

It means you have to accept a lot of losing trades as a matter of course and we are simply not geared up mentally to deal with that well. Going back to basics, instinctive survival means not being wrong too often or you will end up as some wild animal's lunch. Moving forward a few millennia and being wrong too often will mean you are looking for a new job. We are hardwired to avoid being wrong, but being wrong is an inherent part of trading. Quite the mental conflict for us to deal with.

The trading solution to this is deceptively simple: accept you will be often wrong, and have the discipline of a small position size + rigid stop loss always in place so when you do lose you don't lose much. Look at trading as a series of trades that faithfully follow an underlying strategy that will result in a pretty random series of winners and losers. If your strategy has any edge and your discipline is good you will come out on top over the entire series.

Of course, if either your strategy has no edge, or your discipline is poor, you are likely to be a net loser. So I shall be taking a look at each of these elements in turn over the next couple of posts.
3
every Saint has a past. Every Sinner has a Future
  • #10,196
  • Feb 26, 2024 7:18am Feb 26, 2024 7:18am
All markets have a purpose imho.

Each to their own how they trade it of course.

Anyway, it's NY Open and past my bedtime now, good trading all.

(edit: ps dinpappa, for what its worth, hope this clarifies just a little)

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  • #10,197
  • Feb 26, 2024 2:24pm Feb 26, 2024 2:24pm
And the hour before Close of Day.

(All markets have a ) Purpose (in what they do).

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  • #10,198
  • Feb 26, 2024 3:15pm Feb 26, 2024 3:15pm
I've received some messages from some members and will reply to them privately in the next few days... Thanks for the kind words...
(easier to just post this )

Cheers
Master your Mind,,,Master the Market
  • #10,199
  • Edited 4:37am Feb 28, 2024 3:47am | Edited 4:37am
Hi All,

Over 50 pips drop (GBP/JPY). Waiting for a reversal. 190.25 and weekly pivot looks very appealing.
*reversed - 25 odd pips but i missed the train. Just didn't look an A+ setup to me.
Also take a look at AUD/USD, quite similar??
  • #10,200
  • Feb 28, 2024 4:13pm Feb 28, 2024 4:13pm
Quoting whitesta
Hi All, Over 50 pips drop (GBP/JPY).
Waiting for a reversal. 190.25 and weekly pivot looks very appealing.
*reversed - 25 odd pips but i missed the train.
Just didn't look an A+ setup to me. Also take a look at AUD/USD, quite similar??

Hi W,
Mate well spotted.
Trader attractors, station to station, bermuda triangles, day by day.
Market has a purpose (imo).
Trade 'em safe, trade 'em well folks, your choice on entries.

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