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joshdance

If I Hear "price Action" or "setup" ONE More Time...

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Well, I have to say, this is a fairly mean spirited, ego centric discussion...

 

Aren't traders fairly mean-spirited, egocentric sociopaths by definition?

 

Anyway, its all in fun...

 

 

Phantom

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there's a guy at my work (good trader btw) that always uses the phrase "forward looking" so much that it's a joke between us all now.

 

"well you know the markets are forward looking..."

 

another guy uses the word "fundamentally" way too much. he uses it correctly, but just far too often.

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Aren't traders fairly mean-spirited, egocentric sociopaths by definition?

 

Anyway, its all in fun...

 

 

Phantom

 

I am on other trading forums as well. Here, for some reason, there is a very high degree of 'Tearing others down'. It reminds me of certain martial arts forums that are devoted to exposing frauds in the martial arts. It becomes a culture of attack and snickering at others.

 

I don't approve of the whole 'Cut others down to boost yourself' mentality. It just creates a hyena/jackle environment, that is really not very productive.

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I don't approve of the whole 'Cut others down to boost yourself' mentality. It just creates a hyena/jackle environment, that is really not very productive.

 

SPT, if you desire civility, I'm afraid you've come to the wrong place...

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Answer -1 Nah,just you:) (J.k))

Answer -2 Only the ones that don't make money,the rest learn humility

Answer- 3 There you go with another cliche,what's a trader? i'm sick of the word "trader"

 

Mitsu, the question was rhetorical...

 

(Yes JD, that's the 2nd time I've posted a rhetorical question on your threads. What can I say?)

 

Like I said b4, its all in fun...

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Mitsu, the question was rhetorical...

 

(Yes JD, that's the 2nd time I've posted a rhetorical question on your threads. What can I say?)

 

Like I said b4, its all in fun...

 

No worries mate, I only started the thread, it belongs to everyone now, I love hearing the comments of others :D

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Well, I have to say, this is a fairly mean spirited, ego centric discussion.

 

Can you people be any more narrow minded?

 

These markets are ruled by various forces, ultimately rooted in the human mind, and the forces generated by human's physical needs. These are reoccurring. We need to eat every day, for example.

 

These forces are counter balanced by the reality of production. Although we need to eat every day, crops are only harvested in the fall, for example.They reoccur over, and over again as time marches forward (sort of like the Sun rises every morning, and sets in the evening).

 

These two combined become our supply/demand matrix.

 

The supply/demand matrix is reflected in the charts, that also cause various patterns that reoccur over, and over again in the price action.

 

For those of you who obviously do not know what price action is, it is when the price rises, or falls in comparison to a previous point in time. This can be plotted on a chart (which btw, is the entire purpose OF the chart)

 

Since the price action reflects these market forces fairly reliably, in that the same forces, reproduce the same patterns over, and over; one can learn to spot them early, and profit from trades based on the pattern to continue it's formation.

 

This is what is referred to as a 'Setup'

 

So maybe you guys might want to take a moment to stop bashing everything around you, and maybe consider it is you, who does not 'Get It'

 

Cool story bro.

 

Your post has enlightened me. Henceforth I'm going to apply the spirit of price action into other areas of interest.

 

I've been wanting to take up fishing. But I don't care for any fancy equipment or the latest thingamajig. Surely there must be others here who trade price action and know a lot about fish. I'd be interested in learning fish action from any fish action fishermen on this site.

 

Please leave a reply. I will respond later after I return from some lunch action.

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Cool story bro.

 

Your post has enlightened me. Henceforth I'm going to apply the spirit of price action into other areas of interest.

 

I've been wanting to take up fishing. But I don't care for any fancy equipment or the latest thingamajig. Surely there must be others here who trade price action and know a lot about fish. I'd be interested in learning fish action from any fish action fishermen on this site.

 

Please leave a reply. I will respond later after I return from some lunch action.

 

Okay, so the first thing you need to do is get to grips with the basics . . . Head on over to my website and sign up for the course (only $2000 for a limited time only!):

 

http://www.fishactionmasterclass.com

 

You'll learn all of the following:

 

- Why rods, line, float, and all that other tackle is just a fancy distraction from the only thing that really matters: fish.

- How to identify high probability fish using our unique proprietary methods that we use as fish action fisherman in our own fishing everyday.

- A unique net-up that has generated over 300,000 fish in the last twelve months.

- The importance of fins. Many fishermen are trying to catch fish without even understanding the first thing about fins. Learn how to spot a declining fin and take advantage of other fishermen (weak hands) who can't so that you can BOOST YOUR FISH.

 

. . . If I try and continue this joke any further, I'm going to be reduced to quips about 'scaling in' . . . Bluehorseshoe

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* * *

 

Next time one of my students says, "Price is now at 105.00 in CL, I can confidently tell them that is impossible because I just read that Market Price cannot change. It is steady state and cannot rise or fall. It'll be a hoot to read all the posts about how I've lost my mind.

 

Your "students" . . . that's a good one. I'm curious to know how these "students" of yours address you? Professor? Teacher? Sensei? Master? Probably you are just Roger to them.

 

My first day in high school the french teacher asked the class what his name was and admonished those of us who left out the "Mr." He was right of course and I didn't forget that lesson. When I took a course at a local university, I befriended on a first-name basis the instructor who was around my age. Inside the classroom I always addressed him as "Professor" as befitting the relationship, just like all the other, younger students did.

 

There is so much pretense in the trading vendor industry. Maybe "trading education" ought to be added to the pet peeves list.

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People use the term probability as if a back tested pattern deemed to have x% of a chance of occurring, gives them an edge. It would if the events were normally distributed, but that is just not the case.
True but just like the point "we" have to use common terminology to be understood, "we" have to use probabilities to a certain degree even if there is a .... ummm black swan event (another over used term) every now and then. :)

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there's a guy at my work (good trader btw) that always uses the phrase "forward looking" so much that it's a joke between us all now.

 

"well you know the markets are forward looking..."

 

another guy uses the word "fundamentally" way too much. he uses it correctly, but just far too often.

And I bet he says it as "foe-wid" and not "four-ward" looking. :doh:

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This is definitely the holy grail. I've been staring at charts for 30 years and never noticed that the Market goes up and down all day long while Price stands perfectly still because it "cannot" (move). What a revelation!

 

Next time one of my students says, "Price is now at 105.00 in CL, I can confidently tell them that is impossible because I just read that Market Price cannot change. It is steady state and cannot rise or fall. It'll be a hoot to read all the posts about how I've lost my mind.

 

Perhaps you should tell them this... if you've been trading 30 years and you need "students" to keep you profitable, there's no doubt all sorts of misinformation in their heads!

 

I believe the attached picture is where you want to go in your profile to properly designate you as a vendor, if you choose to do so.

 

In all seriousness, there is a distinction between "price" and "a market" -- of course, we all know what one means when one says "price is now at 105.00" ... but it would be more accurate to say that "CL is trading at 105.00" ... it shows what a "market" actually is. A market is not one price... and IMO, it's an important distinction to understand the dynamics of supply and demand, and HOW the market moves. At the end of the day, perhaps it's just semantics, no need to get feathers ruffled!

vendor.png.29f81e686f69d56162a4a80a066c33f5.png

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I'm starting to get annoyed by the term 'HFT'. It gets bandied around a lot, but barely anyone knows quite what HFT firms do (other than trade with very high frequency, and have super-speed execution facilities, obviously). It's another one of those vague umbrella terms that people use.

 

I did read an excellent book on this topic (written by someone who had worked within the industry for companies like Citadel), which led me to believe that HFT firms mostly dabbled in options, liked to use dark pools for slippery stock manouvres, and would also arbitrage pretty much any one instrument against another. Yesterday I finished reading 'The Quants'. At the end, the author discusses the mutation of several quant firms into HFT outfits, and suggests that their primary vehicle of interest is ETFs (!!!) . . . Clearly nobody really knows what these firms are doing, so the term is pretty frustrating whenever I encounter it.

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It seems quite a few trailers out there are fed up with certain worms and phrases.This is overstandable.Yet even in today's hi tech meercat the game is still all about willing and loaning.....:shrug:...so just get under it. Once you get past the loading curve,who cares if you deal with implicators,moody averages,treadlines or methematics.

I've seen lots of petals like head'n'dandruff,inverted egg and boulders and bull fags etc.But when the meercat is overblown then pies tend to be louder,when underdone the pastry tends to rise.-that is what a seeyoulater attempts to show you.:)

Some exsplurgs write boobs claiming to show you the holy grain but basically,if you cannot sort the wheat from the chaff you will struggle as a trailer.

For the meercat can only move between sporthall and resilience,usually manipulated by the big monkey players,and all a trailer needs to do is learn to weep a market and follow their footstools on the cart.

In short,trailing is simple.its trailers that make trailing complicated.;)

 

Not bad. But you may have caused Charlie to turn in his grave.

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I'm starting to get annoyed by the term 'HFT'. It gets bandied around a lot, but barely anyone knows quite what HFT firms do (other than trade with very high frequency, and have super-speed execution facilities, obviously). It's another one of those vague umbrella terms that people use.

 

I did read an excellent book on this topic (written by someone who had worked within the industry for companies like Citadel), which led me to believe that HFT firms mostly dabbled in options, liked to use dark pools for slippery stock manouvres, and would also arbitrage pretty much any one instrument against another. Yesterday I finished reading 'The Quants'. At the end, the author discusses the mutation of several quant firms into HFT outfits, and suggests that their primary vehicle of interest is ETFs (!!!) . . . Clearly nobody really knows what these firms are doing, so the term is pretty frustrating whenever I encounter it.

 

 

I was speaking to a bank trader the other day. His desk is called the 'alpha tx trading' desk. its even on his business card (no joke). I asked what alpha tx trading was. he said it's just prop trading with a silly name to fool the regulators - ahead of the volker rule & dodd frank!

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Perhaps you should tell them this... if you've been trading 30 years and you need "students" to keep you profitable, there's no doubt all sorts of misinformation in their heads!

 

I believe the attached picture is where you want to go in your profile to properly designate you as a vendor, if you choose to do so.

 

In all seriousness, there is a distinction between "price" and "a market" -- of course, we all know what one means when one says "price is now at 105.00" ... but it would be more accurate to say that "CL is trading at 105.00" ... it shows what a "market" actually is. A market is not one price... and IMO, it's an important distinction to understand the dynamics of supply and demand, and HOW the market moves. At the end of the day, perhaps it's just semantics, no need to get feathers ruffled!

 

Hey JD. I like your new avatar/icon. A picture of some nice price action! sweet!

 

:crap:

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Hey JD. I like your new avatar/icon. A picture of some nice price action! sweet!

 

:crap:

 

What can I say, I love me some sweet price action :D

 

Or I could just call it a "chart" ;)

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What can I say, I love me some sweet price action :D

 

Or I could just call it a "chart" ;)

 

so what " historical graphical representation of prices that transactions took place at within a particular market." - ing package do you use to see your price action?

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so what " historical graphical representation of prices that transactions took place at within a particular market." - ing package do you use to see your price action?

 

I use NT and IRT.

(damn this 20 character limit, c'mon mods)

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I use NT and IRT.

(damn this 20 character limit, c'mon mods)

 

I used MC, NT now I use IB and SC.

 

IMHO There's another bugbear....but more a funny one....acronyms.

 

just as IMRO used to be the Investment Management Regulatory Organisation, the precursor to the FSA, the UK equivalent of the SEC in the USA.... now if you goggle it is either the Irish Music Rights Organisation or the Internal Macedonian Revolutionary Organization, WTF. :)

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Can we add discipline and consistency to that list?

 

Lets' also add Profit, Trade Management and maybe Risk Control. Do ya think removing certain words from trading jargon also removes their importance?

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