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.

thalestrader

Reading Charts in Real Time

Recommended Posts

What type of action are you watching for on the DOM during the test of the wave 3 extreme (or whatever S/R level you are watching), and how would what you are watching for differ between a reversal versus continuation of the trend?

 

snowbird

 

Ideally, I see trade volume falling as price tests the extreme. Price can be dropping like a rock or simply fluttering down slow and steady, but trade itself should be falling off. Then, as price breaks the prior low, I look to see trade volume (and size) pick up while price makes no further progress, in effect you would like to see some churning at the lows. Of course, sometimes you get huge volume all at once and price rockets from the lows. But ideally, I like to see a few minutes of churn on increasing volume with increasing size. But, you do not always get what you want, and in the end, price holding and reversing after a prior low/high trumps whatever you may see in terms of trade volume, size, speed, "intensity," etc. and so on. But ideally, you will see price dropping (or rising) and probing past an extreme on falling trade, and then the drop or rise is checked by a brisk increase in the pace of trade while price movement itself seems to "hover". Then, of course, I look for the first High/higher Low. This can be, and often is a spread of just a few ticks. As jashanno noted above, the R/R profile of a 2B is typically so favorable that you can lose a bunch of these and make it all up on the next winner.

 

Best Wishes,

 

Thales

Share this post


Link to post
Share on other sites

I've implemented the 2B into my trading, and have had success with it, but I don't trade it "right"...I trade it more like a 123 (I buy/sell on the break of the high/low).

 

NOTE: I'll often take very small 2B's (1 minute chart) at significant levels.

NOTE2: Actually, the same thing applies to 123's.

NOTE3: I currently don't watch a DOM.

 

attachment.php?attachmentid=20730&d=1272121212

 

:2c:

 

-Cory

My2BEntry.jpg.6da283c8c022dd51e90f9f2b3b8e749f.jpg

Edited by Cory2679
notes

Share this post


Link to post
Share on other sites

Hi Folks,

 

A week ago sicktrader posted the following in another thread here at TL:

 

I will turn $1,000 into $1,000,000 in 20 weeks. Actually I should get it done in 10-15 weeks, but I'll give myself some extra time. I believe that across the street I used the S&P, here I will do currencies. Nonetheless I hope to show that it is not the system that brings profits, but money management. I have done this many times in real life, a few times on trading and gambling forums. I do not reach my goal within the time frame every time, but certainly the majority of times.

 

An interesting proposal, don't you think? At any rate, I suggested that we hold a litle race here at TL, with the objective being to see who can generate the greatest pnl in nominal dollars trading a small (less than $3k USD) account.

 

I posted some suggested ground rules in sicktrader's thread, and on Monday I will start a thread devoted to the race. It is open to anyone - all instruments, all stules, etc and so on, so long as you start with a small account. The only otherrequirement is that you be wiling to post a daily statement/equity run with your name and account nu,ber blotted out, painted out, or simply left out of the screen capture. Right now it looks like sicktrader and I are the only two, but I would hope that we can get a few more to praticipate. Even a $25 microlot account is sufficient. Here are the proposed ground rules below. If you think you would like to join in, even if you do not have a small account open and funded, let us know by posting your interest in sicktrader's thread.

 

Best Wishes,

 

Thales

 

I propose the following Ground Rules for The Race.

 

 

 

 

The Race

 

Objective: To be the first participant to trade a small account to one million dollars USD in profits, including closed and open trade equity as well as cashed out funds, or at least to have a load of fun trying!

Ground Rules:

 

A. Accounting

1) Starting balance of trading account is not to exceed $3000.

 

a. Deposits are allowed at any time, either to replenish a blown account, or to allow additional margin, so long as the deposit does not result in an account balance greater than $3000.

 

b. No deposits are allowed if equity exceeds $3000.

 

2) Withdrawals are allowed. Notice of a withdrawal request to your broker should be posted to The Race thread on the day you make the withdrawal request.

3) Participants must post daily screen shots of his or her daily equity run by 9:30 AM EDT, unless the equity run has not been received, or if there has been no change in positions or equity since the previously reported closing equity. If the equity run has not been received from your broker by 9:30 AM, it should be posted as soon as possible after it is received. Again, this is only required when there has been a change to the previously reported closing equity.

 

4) I will post a weekly summary of each participant's performance both for the week and from the beginning of each trader's individual participation in The Race.

 

a. This summary will be in terms of nominal dollars profit and loss. This is not a percent return race, but an accumulated profit race.

 

b. This summary will include both closed trade equity, open trade equity, and cashed out profits, if any.

 

5) The Race is open to new participants at any time. The only requirement for participation is a live, real money trading account of $3000 or less starting equity, and a willingness to post a daily equity run. A trade blotter is not sufficient. Your post must show instrument(s) traded, entry price, exit price, commissions, fees, etc. as well as closed equity and open trade equity.

 

B. Trading

 

1) Real time calls are not necessary - just post a copy of the daily equity runs with your name and account numbers painted out.

 

2)The Race is open to all trading styles - day traders, swing traders, scalpers, position traders.

 

3) Any freely traded liquid instrument is allowed - futures, spot forex, stocks, bonds, options. The Race can accommodate the $25 microlot account holder, a $1000 futures account holder, as well as a $3000 cash or margin stock account holder.

 

4) As this is open to all trading styles, there is no requirement that a trader place a trade every day, every week, or even every month for that matter. The only requirement is that a daily equity run be posted whenever there has been a change in equity from the previously reported closing equity.

 

5) No trader is required or expected to divulge anything more of his or her trading system, method, approach, etc. than what he or she wishes to divulge. The trader can tell all, or tell nothing.

 

6) If it is known that you will be unable to trade for a period of time, then that should be posted in The Race thread with an expected return date. The race doesn't stop just because one or more participants is unable to trade for a period of time. The notice is requested simply because it prevents anyone of us from dropping out of The Race without giving the other the courtesy of a public notice.

7) The initial period of The Race will be twenty weeks starting with the week of 4/26/2010. At the end of 20 weeks, the remaining participants, should any still be standing, will decide whether or not they wish to extend The Race.

Share this post


Link to post
Share on other sites
on Monday I will start a thread devoted to the race. It is open to anyone - all instruments, all stules, etc and so on, so long as you start with a small account.

 

This should be very interesting (especially the initial instruments traders pick.. sounds like sicktrader is giving it a go with currencies!

 

Thales, it looks like you picked ES as one of your instruments. Found this very curious given the previous discussions in this thread about how much it tends to back-fill, which led me to believe it was more difficult to trade with your method.

 

Brownsfan... are you in?.. would be very curious to see what someone could do with oil... and such a thread is certain to have some entertainment value!

 

snowbird

Edited by snowbird
found instruments Thales planned to use in sicktraders thread

Share this post


Link to post
Share on other sites
...

Then you wonder about what you really had before your eyes during your trading hours.

 

A first (and painful) consequence is: for some time I'll not participate in the forum during during trading hours.

It is just too much distraction:

- it takes about 2 minutes to write a comment and publish it together with a chart.

- it takes another 2 minutes to focus on the latest price action and to recall what I really thought before starting the comment

 

Since this thread has "Real Time" in its title the above 4..5 minutes often coincide with the last phase before a signal appears. Because of this dead time before a signal I tend to ignore the opposite aspect of a signal, e.g. occures the up signal at the near end of a correction.

 

So please don't expect any "real time" comments from me for some time.

Share this post


Link to post
Share on other sites
....

For a long time I read and re-read a few pages of Trader Vic every night before I would go to bed, and I recently renewed that practice...

 

Interesting... The two books from Mark Douglas serve exactly the same purpose for me.

Edited by Marko23

Share this post


Link to post
Share on other sites
Brownsfan... are you in?

 

I would hope that Brownie would join in the fun. He was always a big advocate of the small account trader.

 

... are you in?..

 

As importantly, are you in, snowbird?

 

...Thales, it looks like you picked ES as one of your instruments. Found this very curious given the previous discussions in this thread about how much it tends to back-fill, which led me to believe it was more difficult to trade with your method.

 

Well, to tell you the truth, two of my friends and I were about to commence a little "competitive" experiment of our own using our "sand box" accounts, and the ES is part of that competition. I am simply leveraging my participation in that project by adding "The Race" dimension, a dimension that was prompted by sicktrader's interesting and wondrous promise to turn 1K into [1K * 1000] in 20 weeks in his "Let's Trade" thread.

 

My trading for the purpose of The Race will be dictated by that separate and independent "experiment" proposed to me by my currency trading friend and my TF trading friend, and my approach for this small account will differ somewhat from what I have presented throughout this thread as it harkens back more to my time as a would-be "systems" trader (kiwi might be interested to know that this little side experiment has prompted me to fire up my old Trading Blox software for the first time since '06).

 

Best Wishes,

 

Thales

Share this post


Link to post
Share on other sites
The 3rd push up in an uptrend or the 3rd push down in a downtrend are good hints for a 2B setup.

 

Agreed. I find that the two patterns that hint at a potential 2B that I like best are the three pushes (especially when wedging into the highs/lows), and the other is a sharp impulse, followed by a shallow retracement, followed by another impulse past the extreme of the first impulse that quickly reverses.

 

Best Wishes,

 

Thales

Share this post


Link to post
Share on other sites
...

the race...

 

I won't be in because I have to eradicate some bad habits.

I've been sitting over more replays during the weekend only to find some more.

That will be hard work.

 

Good luck and a lot of fun to all participants.

Share this post


Link to post
Share on other sites

 

As importantly, are you in, snowbird?

 

 

LOL... a fair response to my prompt of Brownsfan!

 

Although it would be a dream to meet traders I have come to have such an immense respect for on this board should any achieve the goal; I must humbly remain a spectator of the games since I am still on a very steep learning curve in my own journey to develop a method that matches my nature.

 

I am also selfishly aware, that exposure to methods of various traders will only help in that journey, so I sincerely hope you and sicktrader are successful in getting others to join the fun... Thanks kindly for the invite. ;)

 

snowbird

Share this post


Link to post
Share on other sites

Brownsfan... are you in?.. would be very curious to see what someone could do with oil... and such a thread is certain to have some entertainment value!

 

snowbird

 

I do not trade for anyone's entertainment and will not be participating in this.

Share this post


Link to post
Share on other sites

Well, to tell you the truth, two of my friends and I were about to commence a little "competitive" experiment of our own using our "sand box" accounts, and the ES is part of that competition. I am simply leveraging my participation in that project by adding "The Race" dimension, a dimension that was prompted by sicktrader's interesting and wondrous promise to turn 1K into [1K * 1000] in 20 weeks in his "Let's Trade" thread.

 

My trading for the purpose of The Race will be dictated by that separate and independent "experiment" proposed to me by my currency trading friend and my TF trading friend, and my approach for this small account will differ somewhat from what I have presented throughout this thread as it harkens back more to my time as a would-be "systems" trader (kiwi might be interested to know that this little side experiment has prompted me to fire up my old Trading Blox software for the first time since '06).

 

Best Wishes,

 

Thales

 

 

Thales,

 

Never promised anything other than my perspective on money management. I hit this about 35% of the time, so wouldn't promise anything. I will reach the 1 mil mark, I expect within 20 weeks, but I haven't made that guarantee.

Edited by sicktrader

Share this post


Link to post
Share on other sites

Wow, I really wanted to post this trade in real time... Too bad it was all over in about 10 seconds.. Damn you free Malaysian wifi!

 

Before and after on the NQ. 1-2-3 around last weeks highs.

 

EDIT: Nice rejection at prior swing, looking for another 1-2-3 to test the highs again..

5aa70ffcdb19e_NQ06-104_26_2010(2Min).thumb.jpg.aac871251218d7836ba6b79798def1ae.jpg

5aa70ffce3e10_NQ06-104_26_2010(2Min)2.thumb.jpg.e19c3edea996e6f49ae1452503cb0c6c.jpg

Share this post


Link to post
Share on other sites

more interesting action..

 

EDIT: Filled, then closed at BE. Huge volume on the breakthrough and no real movement. I am no volume expert, but it looks like someone is buying.

5aa70ffce9ecb_NQ06-104_26_2010(2Min)3.thumb.jpg.0bb64144e50c5d4e0d3d0d70a963bdbf.jpg

Edited by ziebarf

Share this post


Link to post
Share on other sites
Thales,

 

Never promised anything other than my perspective on money management....

 

No problem, sicko, my reference to your "promise" was meant to refer to your sharing your MM perspective and (I do hope you still intend to share your MM regimen with us), and not that you would actually succeed this time around in multiplying your stake 1000-fold.

 

Best Wishes,

 

Thales

Share this post


Link to post
Share on other sites
Profit target 1 has been filled ...

 

I was in this (off a smaller swing), but I closed it in anticicpation of the news (consumer confidence & Bernanke), which indeed spiked the EUR/USD spread to 10 ticks with Oanda...

 

attachment.php?attachmentid=20770&d=1272379508

 

Had I not closed it, and was still in, I would have been up 4R+ in unrealized p/l by now...

 

:angry:

 

To those that trade spot forex:

 

Do ECN forex brokers, such as MB Trading, do the same sort of thing around news events (spike the spread)...or can you hold a position through a news event like consumer confidence. (I understand that even with futures, events like the FOMC announcement can be troublesome, but with Oanda, there's something every day that spikes the spread, usually more than once...)

Trade.jpg.cd1270ea3cbf834253133069d9ff6c2a.jpg

Share this post


Link to post
Share on other sites
To those that trade spot forex:

 

Do ECN forex brokers, such as MB Trading, do the same sort of thing around news events (spike the spread)...or can you hold a position through a news event like consumer confidence. (I understand that even with futures, events like the FOMC announcement can be troublesome, but with Oanda, there's something every day that spikes the spread, usually more than once...)

 

Actually, I just created a thread concerning this...

 

http://www.traderslaboratory.com/forums/f24/spot-forex-news-7827.html

Share this post


Link to post
Share on other sites

Current view of the 6E. The hashed blue line is a short entry at 1.3236, and the solid blue line would be a place below which I'd be tempted to add. This could develop into a tremendous short. However, while I am not ready yet to do so, I am tempted, given how this looks, to stop and reverse if price breaks and holds above 1.3237 ...

 

attachment.php?attachmentid=20809&stc=1&d=1272549233

 

Best Wishes,

 

Thales

5aa70ffeed280_2010-04-296E1.thumb.jpg.20b2c91f38bf6806849284542bd9bbb4.jpg

Share this post


Link to post
Share on other sites
Current view of the 6E. The hashed blue line is a short entry at 1.3236, and the solid blue line would be a place below which I'd be tempted to add. This could develop into a tremendous short. However, while I am not ready yet to do so, I am tempted, given how this looks, to stop and reverse if price breaks and holds above 1.3237 ...

 

attachment.php?attachmentid=20809&stc=1&d=1272549233

 

Best Wishes,

 

Thales

 

Hello Thales!

 

I hope you are doing fine!

 

Just one question about the setup:

 

If you anticipated that there could be support where you drew the uptrend line, why did you decide to go short at that point?

 

Thanks four feedback!

Leandro

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

    • Date: 11th July 2025.   Demand For Gold Rises As Trump Announces Tariffs!   Gold prices rose significantly throughout the week as investors took advantage of the 2.50% lower entry level. Investors also return to the safe-haven asset as the US trade policy continues to escalate. As a result, investors are taking a more dovish tone. The ‘risk-off’ appetite is also something which can be seen within the stock market. The NASDAQ on Thursday took a 0.90% dive within only 30 minutes.   Trade Tensions Escalate President Trump has been teasing with new tariffs throughout the week. However, the tariffs were confirmed on Thursday. A 35% tariff on Canadian imports starting August 1st, along with 50% tariffs on copper and goods from Brazil. Some experts are advising that Brazil has been specifically targeted due to its association with the BRICS.   However, the President has not directly associated the tariffs with BRICS yet. According to President Trump, Brazil is targeting US technology companies and carrying out a ‘witch hunt’against former Brazilian President Jair Bolsonaro, a close ally who is currently facing prosecution for allegedly attempting to overturn the 2022 Brazilian election.   Although Brazil is one of the largest and fastest-growing economies in the Americas, it is not the main concern for investors. Investors are more concerned about Tariffs on Canada. The White House said it will impose a 35% tariff on Canadian imports, effective August 1st, raised from the earlier 25% rate. This covers most goods, with exceptions under USMCA and exemptions for Canadian companies producing within the US.   It is also vital for investors to note that Canada is among the US;’s top 3 trading partners. The increase was justified by Trump citing issues like the trade deficit, Canada’s handling of fentanyl trafficking, and perceived unfair trade practices.   The President is also threatening new measures against the EU. These moves caused US and European stock futures to fall nearly 1%, while the Dollar rose and commodity prices saw small gains. However, the main benefactor was Silver and Gold, which are the two best-performing metals of the day.   How Will The Fed Impact Gold? The FOMC indicated that the number of members warming up to the idea of interest rate cuts is increasing. If the Fed takes a dovish tone, the price of Gold may further rise. In the meantime, the President pushing for a 3% rate cut sparked talk of a more dovish Fed nominee next year and raised worries about future inflation.   Meanwhile, jobless claims dropped for the fourth straight week, coming in better than expected and supporting the view that the labour market remains strong after last week’s solid payroll report. Markets still expect two rate cuts this year, but rate futures show most investors see no change at the next Fed meeting. Gold is expected to finish the week mostly flat.       Gold 15-Minute Chart     If the price of Gold increases above $3,337.50, buy signals are likely to materialise again. However, the price is currently retracing, meaning traders are likely to wait for regained momentum before entering further buy trades. According to HSBC, they expect an average price of $3,215 in 2025 (up from $3,015) and $3,125 in 2026, with projections showing a volatile range between $3,100 and $3,600   Key Takeaway Points: Gold Rises on Safe-Haven Demand. Gold gained as investors reacted to rising trade tensions and market volatility. Canada Tariffs Spark Concern. A 35% tariff on Canadian imports drew attention due to Canada’s key trade role. Fed Dovish Shift Supports Gold. Growing expectations of rate cuts and Trump’s push for a 3% cut boosted the gold outlook. Gold Eyes Breakout Above $3,337.5. Price is consolidating; a move above $3,337.50 could trigger new buy signals. 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.
    • Back in the early 2000s, Netflix mailed DVDs to subscribers.   It wasn’t sexy—but it was smart. No late fees. No driving to Blockbuster.   People subscribed because they were lazy. Investors bought the stock because they realized everyone else is lazy too.   Those who saw the future in that red envelope? They could’ve caught a 10,000%+ move.   Another story…   Back in the mid-2000s, Amazon launched Prime.   It wasn’t flashy—but it was fast.   Free two-day shipping. No minimums. No hassle.   People subscribed because they were impatient. Investors bought the stock because they realized everyone hates waiting.   Those who saw the future in that speedy little yellow button? They could’ve caught another 10,000%+ move.   Finally…   Back in 2011, Bitcoin was trading under $10.   It wasn’t regulated—but it worked.   No bank. No middleman. Just wallet to wallet.   People used it to send money. Investors bought it because they saw the potential.   Those who saw something glimmering in that strange orange coin? They could’ve caught a 100,000%+ move.   The people who made those calls weren’t fortune tellers. They just noticed something simple before others did.   A better way. A quiet shift. A small edge. An asymmetric bet.   The red envelope fixed late fees. The yellow button fixed waiting. The orange coin gave billions a choice.   Of course, these types of gains are rare. And they happen only once in a blue moon. That’s exactly why it’s important to notice when the conditions start to look familiar.   Not after the move. Not once it's on CNBC. But in the quiet build-up— before the surface breaks.   Enter the Blue Button Please read more here: https://altucherconfidential.com/posts/netflix-amazon-bitcoin-blue  Profits from free accurate cryptos signals: https://www.predictmag.com/ 
    • What These Attacks Look Like There are several ways you could get hacked. And the threats compound by the day.   Here’s a quick rundown:   Phishing: Fake emails from your “bank.” Click the link, give your password—game over.   Ransomware: Malware that locks your files and demands crypto. Pay up, or it’s gone.   DDoS: Overwhelm a website with traffic until it crashes. Like 10,000 bots blocking the door. Often used by nations.   Man-in-the-Middle: Hackers intercept your messages on public WiFi and read or change them.   Social Engineering: Hackers pose as IT or drop infected USB drives labeled “Payroll.”   You don’t need to be “important” to be a target.   You just need to be online.   What You Can Do (Without Buying a Bunker) You don’t have to be tech-savvy.   You just need to stop being low-hanging fruit.   Here’s how:   Use a YubiKey (physical passkey device) or Authenticator app – Ditch text message 2FA. SIM swaps are real. Hackers often have people on the inside at telecom companies.   Use a password manager (with Yubikey) – One unique password per account. Stop using your dog’s name.   Update your devices – Those annoying updates patch real security holes. Use them.   Back up your files – If ransomware hits, you don’t want your important documents held hostage.   Avoid public WiFi for sensitive stuff – Or use a VPN.   Think before you click – Emails that feel “urgent” are often fake. Go to the websites manually for confirmation.   Consider Starlink in case the internet goes down – I think it’s time for me to make the leap. Don’t Panic. Prepare. (Then Invest.)   I spent an hour in that basement bar reading about cyberattacks—and watching real-world systems fall apart like dominos.   The internet going down used to be an inconvenience. Now, it’s a warning.   Cyberwar isn’t coming. It’s here.   And the next time your internet goes out, it might not just be your router.   Don’t panic. Prepare.   And maybe keep a backup plan in your back pocket. Like a local basement bar with good bourbon—and working WiFi.   As usual, we’re on the lookout for more opportunities in cybersecurity. Stay tuned.   Author: Chris Campbell (AltucherConfidential) Profits from free accurate cryptos signals: https://www.predictmag.com/   
    • DUMBSHELL:  re the automation of corruption ---  200,000 "Science Papers" in academic journal database PubMed may have been AI-generated with errors, hallucinations and false sourcing 
    • Does any crypto exchanges get banned in your country? How's about other as Bybit, Kraken, MEXC, OKX?
×
×
  • Create New...

Important Information

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