Jump to content

Welcome to the new Traders Laboratory! Please bear with us as we finish the migration over the next few days. If you find any issues, want to leave feedback, get in touch with us, or offer suggestions please post to the Support forum here.

  • Welcome Guests

    Welcome. You are currently viewing the forum as a guest which does not give you access to all the great features at Traders Laboratory such as interacting with members, access to all forums, downloading attachments, and eligibility to win free giveaways. Registration is fast, simple and absolutely free. Create a FREE Traders Laboratory account here.

firewalker

Off, Yet on Topic

Recommended Posts

I noticed hence the question.

 

I will never use volume so seems little need. Besides, us real pro's can see what's happening in price alone thanks.

 

:hmpf:

 

To be honest, I'm beginning to rely less on volume, except for patterns, like hinges/triangles.

Share this post


Link to post
Share on other sites

The only reason I could feasibly see volume as useful is for measuring strength in a move but even then, not sure it would be that helpful.

Share this post


Link to post
Share on other sites

In regards to your comment (i thought you made here?) about, ''would you exit and reverse if already in a position.......''

 

I think it is a very good way of analysing your decision. I am a greedy sod and if I am not in a position I am doing something wrong or too drunk too trade!

 

It was actually something db said in my journal once about how if, it is a good reason to exit, why not entry? After much deliberation, I am now in 99% of the time as if I think its time to exit, its time to re-enter, never before or after.

 

When I am flat, that is one part of how I determine my re-entry.

 

Of course this is much easier for me as FX is 24/5 and I am flat at weekends.

Share this post


Link to post
Share on other sites
In regards to your comment (i thought you made here?) about, ''would you exit and reverse if already in a position.......''

 

I think it is a very good way of analysing your decision. I am a greedy sod and if I am not in a position I am doing something wrong or too drunk too trade!

 

It was actually something db said in my journal once about how if, it is a good reason to exit, why not entry? After much deliberation, I am now in 99% of the time as if I think its time to exit, its time to re-enter, never before or after.

 

When I am flat, that is one part of how I determine my re-entry.

 

Of course this is much easier for me as FX is 24/5 and I am flat at weekends.

 

You are in 99% of the time? :shocked:

Strange, I figured you were drunk a lot more than 1% of the time :o

 

Remarkable. Have contemplated these things too, but when in whipsaw these things can cause a lot of pain...

 

For me an exit doesn't constitute an entry. Besides, I prefer to quit after one or two trades nowadays... but each to their own. Interesting though.

Share this post


Link to post
Share on other sites
You are in 99% of the time? :shocked:

Strange, I figured you were drunk a lot more than 1% of the time :o

 

Remarkable. Have contemplated these things too, but when in whipsaw these things can cause a lot of pain...

 

For me an exit doesn't constitute an entry. Besides, I prefer to quit after one or two trades nowadays... but each to their own. Interesting though.

 

I have/am saving for a new apartment overlooking Brighton seafront so got another month of solid 24/5 work then I will be changing my style a lot.

 

For a start I will be taking the rest of the year off and when I come back, I will be trading for 200 pips a week and stop. Anyhow, thats beside the point.

 

The point being...

 

When you exit a position, do you not expect/attempt that to be as close as possibly to the high/low? Thus, a good point of reversal.

 

Obviously whipsaws kill but have an idea how to tackle any condition and this should be irrelevant.

 

This may all be very different and not possible for an indices trader though.

 

 

Take a look at the chart att - every blue triangle being an exit and entry. There were 2 points were a better exit could have been attained BUT, overall, its 400 pips a piece by Thursday evening and, you have no problems of waiting, waiting........

all.thumb.gif.bbce53bc32ef7222db0e236fe53e82a1.gif

Edited by wasp

Share this post


Link to post
Share on other sites

When you exit a position, do you not expect/attempt that to be as close as possibly to the high/low? Thus, a good point of reversal.

 

 

Because I hardly ever exit my position all at once, no...

 

I scale out for example at next support level, than later if the trendline breaks or if price fails to make a lower low in a downtrend or a higher high in an uptrend. But when I take some off at the next support level, I don't expect price to reverse. Sometimes, it pauses, continues to plunge. Other times, it pauses and does nothing. Yes sometimes, it pauses and reverses, on which I might think of taking a trade in the other direction, but that depends on how much time is left.

 

Often I'm in a trade for several hours, which - being an intraday trader - kind of leaves not much opportunity to exit and reverse...

Share this post


Link to post
Share on other sites

 

Often I'm in a trade for several hours, which - being an intraday trader - kind of leaves not much opportunity to exit and reverse...

 

I think that's an important difference between indices and forex. I class myself as an intraday trader but can be in for one minute or a day, the market tells me and being open 24/5, that becomes easier for trends etc so fewer gaps to contend with.

Share this post


Link to post
Share on other sites
For a start I will be taking the rest of the year off and when I come back, I will be trading for 200 pips a week and stop. Anyhow, thats beside the point.

 

You within a month you'll stop posting? :shocked:

Share this post


Link to post
Share on other sites

The summer will be in full force, there are rock faces to climb, planes to jump out of and countries to travel. Besides, I am in this for the freedom as much as the money and challenge!

 

You have my email address, don't fret! :did I say that?:

Share this post


Link to post
Share on other sites
The summer will be in full force, there are rock faces to climb, planes to jump out of and countries to travel. Besides, I am in this for the freedom as much as the money and challenge!

 

You have my email address, don't fret! :did I say that?:

 

:shrug:

there are no real traders anymore. who do it for the love of the studying the chart!

Share this post


Link to post
Share on other sites
That's not a reason to close or enter a trade! :crap:

 

It is in my book...... With me, anything goes! I have taken up 'gut' trading.

 

The only rules are, there are no rules!

Share this post


Link to post
Share on other sites
:shrug:

there are no real traders anymore. who do it for the love of the studying the chart!

 

I have spent so much time studying charts that I know so much, we swapped and now they study me :cool:

Share this post


Link to post
Share on other sites

VSA is an extremists view of price and volume. They try to take a lot more meaning from each bar and its volume. Specific bars have special names indicative of what they're telling one.

 

Wyckoff is much more generalist in its approach and can really be applied without volume if its not there. To me volume is something that can help by confirming what price is telling me or putting up a red flag to make me question the judgment and be more cautious but it isn't essential. Interestingly since I started looking more seriously at volume 6-8 months ago I have been taking less trades because of the red flags.

 

Do you guys realize that we've doubled the posting rate on traderslab?

Share this post


Link to post
Share on other sites
I have spent so much time studying charts that I know so much, we swapped and now they study me :cool:

 

:haha: Good one! It's nice to have a lively discussion. I feel the same about trading to finance my freedom. I used to study a lot but it doesn't require so much anymore but you still need to sit in front of the screen to make sure you're there at the right (if you're already at the right place... in front of your computer, pda, etc).

 

All the GBP and JPY pairs have been very whippy this week. I'm bleeding slowly here but healthy bleeding I believe.

Share this post


Link to post
Share on other sites

I'm a trend trader and this week hasn't been spectacular. I'm been snipering in with small positions but they don't pan out so I'm waiting for these small positions to grow into big positions to let me know the trend is back. Bored this week is best I can describe it.

Share this post


Link to post
Share on other sites
Besides, I am in this for the freedom as much as the money and challenge!

:

 

I wish I can have the freedom as well...... Maybe in two years time...... I can only load webtrader at work, and it gets stuck all the time......:bang head:

Share this post


Link to post
Share on other sites
Long GJ @ 203.95 stop @ 203.65

 

Well my reversal happened at 5am so got out for 5 and broke even when I shorted and flat atm due to my unreliable internet today. Just about awake to place trades, let alone post the trades, sorry!

 

I'm a trend trader and this week hasn't been spectacular. I'm been snipering in with small positions but they don't pan out so I'm waiting for these small positions to grow into big positions to let me know the trend is back. Bored this week is best I can describe it.

 

Hi Torero, I too am a trend follower mostly but can't be that easy and simple all the time. After we changed direction on Tuesday, the breaks have been good, just needed to be careful with the shorts as the resistance became support and that support caused sharp rebounds. Still a few 100 pip runs if in in a timely fashion. Must sayI prefer the smooth long runs but still a few hundred to be had this week.

 

Hopefully it'll get some nice direction next week and provide some nice runs.

Share this post


Link to post
Share on other sites
We have?

Correction: I have? :o

 

That ego again.

 

:haha: Good one! It's nice to have a lively discussion. I feel the same about trading to finance my freedom. I used to study a lot but it doesn't require so much anymore but you still need to sit in front of the screen to make sure you're there at the right (if you're already at the right place... in front of your computer, pda, etc).

 

All the GBP and JPY pairs have been very whippy this week. I'm bleeding slowly here but healthy bleeding I believe.

 

Get some alarms and alerts setup, that helps me.

 

Not so whippy IMO with some nice +100 pip runs. The problem has been the strong bounces off support but each trader has their own preferred behaviour and you just ride out the crap till your's comes along IMO.

 

I wish I can have the freedom as well...... Maybe in two years time...... I can only load webtrader at work, and it gets stuck all the time......:bang head:

 

Work?! Work?! what's that?!!! But seriously, patience is a virtue and all good things come to those who........................wait. Plus lots of hard work and study in the process too of course!

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.


  • Topics

  • Posts

    • GFL Environmental stock, watch for a top of range breakout at https://stockconsultant.com/?GFL
    • PLBY Group stock watch, nice trend with a pullback to 1.83 gap support area, bullish indicators at https://stockconsultant.com/?PLBY
    • Date: 24th February 2025.   German Markets Surge as Friedrich Merz Set To Be Chancellor, Euro Gains on Fiscal Shift   Germany’s stock index futures and the euro rallied after opposition leader Friedrich Merz secured victory. Investors expect a shift toward increased government spending. US-China trade tensions rise as Trump tightens restrictions on Chinese investments. AI optimism fuels Chinese tech stocks despite regulatory concerns. Nvidia’s earnings report on Wednesday is expected to impact market volatility. German Markets React to Election Results Germany’s stock market and currency experienced a sharp rally in Asian trading after conservative leader Friedrich Merz won the country’s federal election. This victory aligns with pre-election polls and signals a potential departure from Germany’s traditionally strict fiscal policies. Futures tied to the DAX Index surged as much as 1.5% on Monday, recovering from early losses in a session marked by thin trading volume. Meanwhile, the euro strengthened against most major currencies, climbing 0.7% against the U.S. dollar. Market analysts believe Merz’s leadership could mark the end of Germany’s tight fiscal stance, with expectations that his administration will prioritize economic stimulus. This shift comes at a critical time, as Europe’s largest economy grapples with sluggish growth, geopolitical uncertainties, and the threat of a global trade war under U.S. President Donald Trump. The euro’s strength also reflects optimism that Merz will form a government quickly, which wasn’t a widely held expectation before the election.     US-China Trade Tensions Intensify While European markets gained, US-China trade tensions escalated as Trump ordered stricter regulations on Chinese investments in key sectors, including technology, energy, and infrastructure. The move is part of a broader strategy to limit China’s influence in strategic industries. Although not legally binding, the directive strengthens oversight by the Committee on Foreign Investment in the United States (CFIUS), a panel responsible for reviewing foreign acquisitions. JPMorgan strategists warned that this decision could reverse gains in Chinese tech stocks, which had rallied earlier in the year. Despite geopolitical headwinds, Chinese technology stocks have posted strong gains this year, largely driven by optimism in artificial intelligence (AI) and key policy shifts. The market remains under-owned by global investors, suggesting potential for further capital inflows. The growing AI industry has helped offset risks from US tariffs, with investor sentiment remaining bullish on leading Chinese firms like Alibaba and Tencent. Chinese officials reacted strongly, with Vice Premier He Lifeng raising concerns about Trump’s recent 10% tariff hike on Chinese goods in a call with US Treasury Secretary Scott Bessent. Additionally, sources revealed that Trump’s administration urged Mexico to impose tariffs on Chinese imports as part of broader trade negotiations.   Despite these challenges, investor focus remains on Nvidia’s earnings report on Wednesday, a key event that could drive market volatility.   Gold Nears Record Highs on Inflation and Central Bank Demand Gold prices held near $2,940 an ounce, just shy of last week’s record, as ETF inflows surged and the US dollar weakened. The precious metal is on its longest winning streak since 2020, fueled by rising inflation expectations and mounting geopolitical uncertainties under Trump’s administration. Lower US Treasury yields have also boosted bullion’s appeal, with traders now expecting the Federal Reserve’s first rate cut in July rather than September. Markets will closely watch Friday’s inflation data, a key indicator for Fed policy direction. Final Thoughts Markets are reacting to a mix of political and economic shifts, with Germany’s election outcome boosting European equities while US-China trade tensions create uncertainty for Asian markets. Investors will be closely monitoring fiscal policy changes in Germany, Nvidia’s earnings, and further trade developments for insights into market direction. For more financial market insights and updates, stay tuned. Please note that times displayed based on local time zone and are from time of writing this report. Click HERE to access the full HFM Economic calendar. Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding of how markets work. Click HERE to register for FREE! Click HERE to READ more Market news.   Andria Pichidi HFMarkets Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in Leveraged Products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.
    • INO Inovio Pharmaceuticals stock, holding strong, watch for a bottom breakout above 2.36 at https://stockconsultant.com/?INO
    • Date: 21st February 2025.   European PMI Disappoint, Weighing on Euro Before German Elections   The Euro is the first currency to witness the volatility on this month’s PMI reports. The French, German and British PMI data have resulted in the Euro being the worst-performing currency of the European Session so far. However, will the Euro continue to decline throughout the day? European Purchasing Managers’ Indexes The French Purchasing Managers Index was the first European index to be made public. The release resulted in the Euro instantly declining 0.24%. The main concern from the French data was the Services PMI which fell from 48.2 to 44.5. Previously the market was expecting the data to remain more or less unchanged. The weak data triggered the decline which came to a halt after Germany’s PMI was released.     The German Manufacturing PMI read 0.5 points higher than previous expectations and the Services PMI was 0.2 points lower. The data from Germany was a relief for Euro investors and the price rose 0.12% higher. However, traders should note that the price of the EURUSD continues to remain 0.20% lower than yesterday’s close. The price of the EURUSD will now depend on the PMI data from the US. The value of the US Dollar will depend on its PMI release this afternoon and the Consumer Sentiment Index. Analysts expect both the US Services and Manufacturing PMI data to remain above the 50.00 level in the expansion zone. German Elections 2 Days Away Germany is set to hold a general election this Sunday, February 23rd, following the collapse of the coalition of social democrats, liberals, and greens. Given the country's highly proportional electoral system, German polls provide a strong indication of potential government formations post-election. The main concern for Germany is the AFD party who are Far-Right Nationalists. Currently, ahead in the polls are CDU (centre-right), and AFD (far right), followed by the SPD (centre-left). Traders should note that the results of the elections are likely to trigger strong volatility on Monday, but also influence volatility today. Economists may become further concerned if the far-right gains power for the first time due to uncertainty. If the government, similar to France, is unable to form a coalition, this would also be a concern for the Eurozone. Furthermore, the Euro this week is also under pressure from comments from members of the European Central Bank. ECB Governing Council member Fabio Panetta said to journalists that officials need not slow interest rate cuts, as January's 2.5% inflation is still expected to reach the 2.0% target this year. He also advised the European economy is weaker than previously expected. EURUSD - Technical Analysis and Indicators The EURUSD is trading above the 75-bar Exponential Moving Average and 100-bar Simple Moving Average on the 2-hour chart. However, the price is moving away from the key resistance level at 1.05058 indicating the price is losing momentum. The short-term volatility is indicating the price is retracing downwards. On the 5-minute timeframe, the price is trading below the 200-bar SMA and is also forming clear lower lows and highs. Simultaneously, the US Dollar Index is trading above the 200-bar SMA on the 5-minute chart confirming no current conflicts. Currently, the US Dollar is the best-performing currency of the day attempting to regain losses from the past 2 weeks. Watch today’s Live Analysis Session for more signals as they develop!   Key Takeaway Points: Weak French Services PMI triggered an initial Euro decline, but German PMI provide a slight relief. However, EURUSD remains lower than yesterday’s close. The Euro’s direction now depends on the US PMI reports, with analysts expecting US data to stay in expansion territory. Sunday's German election could drive volatility, especially if the far-right AFD gains power or if coalition formation proves difficult. ECB official Fabio Panetta suggested no need to slow rate cuts, citing weaker-than-expected economic performance and expected inflation decline. Always trade with strict risk management. Your capital is the single most important aspect of your trading business.   Please note that times displayed based on local time zone and are from time of writing this report.   Click HERE to access the full HFM Economic calendar.   Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding of how markets work. Click HERE to register for FREE!   Click HERE to READ more Market news.   Michalis Efthymiou HFMarkets   Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in Leveraged Products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.
×
×
  • Create New...

Important Information

By using this site, you agree to our Terms of Use.