Advanced trading lessons - page 48
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philt i already told you exactly were to sell and where to buy stops i said a long time ago in this thread.
i use 25 to 40 pip stops. now you are beginning to be unreasonable. you really need me to tell you when and where
to get in and now you want me to make your stop decision? i already said what i use.
i already taught you this: if there is spot where you think the market is going to turn around at put a line
in the market lower your freq. and treat the momentum leg against you as its own trend.
i clearly said buy here at this level! what does that mean buy here? that means buy!! now your to late.
the market is in range.Boe
You didn´t say chickensh*t,you have been hiding behind fantastic and unbelievable excuses that triggered sequentially in what resembled a bad copycat monologue from Groucho Marx at the races.
For being somebody who claimed to know price action better than most pros,having a dayjob and being unable to post a single real time trade qualifies you as a joke...A bad one,for sure,but still a joke.
This says it all about you "i clearly said buy here at this level! what does that mean buy here? that means buy!! now your to late."...what level,you didn´t post any signal?Now Philt is too late? Hahahahahaha....what brand of marihuana do you smoke?
You got the activity award while your pc was theoretically broken...So,you had time to post tens of after the fact posts about nothing,but when some trading meat is required by people who are doing their best to keep YOUR thread alive,then you are suddenly and systematically ill-pc broken-chastised by the flu-father of 3 working 70 hours workweeks?
What´s next? a lobotomy replacement?...It will be helpful for sure
Do you really think anybody here believed that somebody who self proclaims he can read price action better than most pros will allow his wife(trading partner) to mangle with his computer(Trading partner doesn´t know how to use a pc?),needs to work 70 hours,and has no money to pay for an assistant to take care of the children?Then you are REALLY delusional.
Ok,now you can keep posting your sci-fi setups,or you can just close the thread and avoid any further waste of time...Up to you.
S
Thanks Simba for drawing to my attention Boe's post to me, i missed that one as well..lol.. But i juts feel Boe that you are making some very simple basic concepts relatively difficult..
Boe, the point i have being trying to make is and i know we can all interpret what we see differently but in trading there are some fundamental basics used. In my chart that i posted and i have posted another one below with the same price action that you gave us, well actually it was "the x-trade is powerful thing i have taught here." What you will see in mine which is the same view of yours is, no powerful x trade, what ever that might be, no fancy bells and whistles, smoke and mirror magic..Just two simple trend lines and fib retracement, plain and simple and probably the basics of any analysis by a lot of people. there's no mystery to it, no insider knowledge, no tips from "my trader mate at the bank of England" and not because " i'am top of the pros when it comes to price action"...its because it is what it is, two trend lines and a fib.....
Now what is the difference between mine and yours? Please bare in mind i don't even use these techniques and i can draw trend lines and fibs till the cows come home..
You once said to me you were a swing trader.. A swing trader that " my stop losses are always 25-45 pips" ...Pretty far from a swing point to place your stop..Dont forget what you said goes against every thing that a swing trader tries to accomplish, a stop of no more that 4-5 ticks past the recent swing. Show me swing trader that uses s top of that amount and i'll show you some rocking horse crap..
So what's it to be Boe, fight or flight? Its over to you to put to practice what you preach and show those of us who "missed it"....
simba
the great al brooks, one of the worlds best traders.. makes millions every year. what does it say in the front of his book. It says: i Al Brooks have known how to trade professionally for ten years before ever started trading
to make a living." his excuse was: he was raising three daughters and working until he retired before he found
the time and peace in his household to be able to trade. just because my journey is where it is right now has
nothing to do with my skill. you are fool ... why don't you go find two lines that cross green and red and use
that for your system.
for me just to stop working my day job would be foolish. so do not even pretend you know me. because
if you got off your lazy face and back tested what i have been teaching, then you may have a chance
to prove me wrong. but you can not because i wright. good riddance.
I know you have frequently mentioned Al Brooks and I have read some of his stuff so I cam see where trying to interpret price bar action is coming from. But price bars along with candles is very subjective probably like a lot of things. But it's nothing new and i think you have taken t one step further and are immersed in the theory that you have found the secret that has escaped traders, like this is the missing piece ..
When you know your in 4 hour swing range.
.
When you know you are in four hour swing range...
Then the four time frame becomes your new monthly time frame analysis time frame
over lay.
So when you lower freq. Each leg back and fourth in that range vicinity becomes
its own 4 hr trend.
That means the one hour becomes like your weekly analysis time frame.
In order for you to know when the range turnaround's may be. Look for the break
of your 4 hr time frame trend line with physical price!! And reverse your trades at
the test of the 4 hr time frame test.
One of the biggest mistakes traders make is they are taught to stay on one time frame.
Knowing when to change time frames is the smartest thing a trader can do.
Philt
Philt your are absolutely correct, and i do not pretend to know everything we need to know
about the missing peaces but we are closer then most traders ever imagined.
But there is more to discover i am sore of it. Don"t you think?
Philt
Where i have trouble is projecting inside moves and sudden pure sideways moves
very difficult.
I know what we have here is game changer.
And that's all we probably need. But i want to make it easier to fallow.
So i have been working on some things to make things easier.
I've read some Al Brooks and this is not just my opinion but a few others too. Unfortunately, a lot of what he offered was lost on me and kinda went over my head, his book is poorly written and badly organized, that means you will need to spend more time than should be necessary to learn everything. He has his own name for everything and the terms are not in common usage and he starts using them from the beginning before explaining what they mean so you have to flip back and forth between the glossary and the text.
" you will need to spend more time than should be necessary to learn everything" Sound familair?
"He has his own name for everything and the terms are not in common usage" sound familiar?
He gives many insights into how the various market participants behave and how to exploit that knowledge. (Sound familiar) he uses trend lines and channel lines for S/R but mostly he uses Price Action..
The overshoot. In an uptrend (5 min and daily bars, too) draw trend line along the highs. Sometimes, price overshoots the uptrending line posting a rapid gain that sees price stretched abnormally above the uptrend line. Overbought, retrace likely, but what is more important is: price usually finds a bottom and then goes to at least retest price range of highest overshoot bar.
3) have patience in the 5min chart, if you see 3 or 4 good sized up bars, the first retracement will probably attract buyers, wait for a failure swing.. Sound Familiar?
Its all sounding very familiar..
He doesnt even rank among the top 100 traders. But thats not to say hes not a good trader and its not a good stratgey..
Dana Allen
Rob Booker
Chuck Hays
Hoosain Harneker
Franki Law
Indi Jones
Roland Campbell
Tyrone Ball
Ashkan Bolour
Paul Willette
Steven Ickow
Not to mention the Goliaths...David E Shaw and Jim Simmons..If read about all those traders i mentioned they have one thing in common that has made them successful.. OBJECTIVITY, keep it simple, good money management and knowing what they will get back for their risk.
Boe you have made some very common juvenile, elementary and most importantly some mistakes that only a novice less knowledgeable would make.. IE: trying to be too clever for your own good. Mistakes a seasoned trader would not have made.
I like you and you may have some potential..Please keep, posting its interesting but keep it simple.. no strange names to things and keep it objective..
I've read some Al Brooks and this is not just my opinion but a few others too. Unfortunately, a lot of what he offered was lost on me and kinda went over my head, his book is poorly written and badly organized, that means you will need to spend more time than should be necessary to learn everything. He has his own name for everything and the terms are not in common usage and he starts using them from the beginning before explaining what they mean so you have to flip back and forth between the glossary and the text.
" you will need to spend more time than should be necessary to learn everything" Sound familair?
"He has his own name for everything and the terms are not in common usage" sound familiar?
He gives many insights into how the various market participants behave and how to exploit that knowledge. (Sound familiar) he uses trend lines and channel lines for S/R but mostly he uses Price Action..
The overshoot. In an uptrend (5 min and daily bars, too) draw trend line along the highs. Sometimes, price overshoots the uptrending line posting a rapid gain that sees price stretched abnormally above the uptrend line. Overbought, retrace likely, but what is more important is: price usually finds a bottom and then goes to at least retest price range of highest overshoot bar.
3) have patience in the 5min chart, if you see 3 or 4 good sized up bars, the first retracement will probably attract buyers, wait for a failure swing.. Sound Familiar?
Its all sounding very familiar..
He doesnt even rank among the top 100 traders. But thats not to say hes not a good trader and its not a good stratgey..
Dana Allen
Rob Booker
Chuck Hays
Hoosain Harneker
Franki Law
Indi Jones
Roland Campbell
Tyrone Ball
Ashkan Bolour
Paul Willette
Steven Ickow
Not to mention the Goliaths...David E Shaw and Jim Simmons..If read about all those traders i mentioned they have one thing in common that has made them successful.. OBJECTIVITY, keep it simple, good money management and knowing what they will get back for their risk.
Boe you have made some very common juvenile, elementary and most importantly some mistakes that only a novice less knowledgeable would make.. IE: trying to be too clever for your own good. Mistakes a seasoned trader would not have made.
I like you and you may have some potential..Please keep, posting its interesting but keep it simple.. no strange names to things and keep it objective..Hi Phil, where did you get this list? I agree with K.I.S.S..... I would like to study more so please share.
TCT