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

2nd target hit :)

 

Well done Gabe,

 

Just an observation -- I was looking at the same EJ trade with some of Kiwi's recent comments in mind. The first break (trade) was after a 4h bar break down (there was a 4h "inside" bar after that one but to me trend was down) . The second possible trade on the chart, long, from the blue line, I would not have taken for the same reason (4h is still down).

 

And by the way, nice to see several people here from a forum of the past (at least to me), a traders roundtable if you so will. I would not have guessed :) .

 

Edit #1: I see Thales posted a potential short while I was writing this. :)

Edit #2: Thales post was for another pair... confusion reigns today. And the second long would have rocked. Oh well.

EURJPY-2009-11-30_1.png.34c9de43f06c9ed6b330e7b67153e237.png

Edited by TrueBalance
Comment about Thales post.

Share this post


Link to post
Share on other sites
Here's a clearer picture...

 

And you got 1:1 on that...

 

 

I thought that there was too much conjestion where you marked your entry eventhough it would have given you a better R:R.

 

Gabe

Share this post


Link to post
Share on other sites
GU ready to rest or rally?

 

Looked like it was resting after we were stopped in, and for a while it looked as though I was going to be able to come through for Don and post that losing trade he has been asking for.

 

Sorry Don, but the GU just doesn't want to cooperate, as it has now rallied past our BE move point, and we have hit the first PT for +26 (26.1 as we got .1 positive slippage). Second PT is 1.6494, and stop is BE on the remaining position.

 

Don't worry, Don. We do have losing trades, so it is only a matter of time before you get your wish.

 

Best Wishes,

 

Thales

5aa70f71f2aa3_11-30-2009GULong1.thumb.jpg.103a43130711f0fe7422372cabbe8308.jpg

5aa70f7204bba_11-30-2009GULong2.thumb.jpg.53bd859506bc2cf41376935a3f91e19e.jpg

5aa70f720999c_11-30-2009GULong3.thumb.jpg.927eb203c72e04d8e5cdf5e88195b2f2.jpg

5aa70f720e862_11-30-2009GULong6.thumb.jpg.1879461498892355b2f8a6d9060352a3.jpg

5aa70f7210b3a_11-30-2009GULong4.jpg.24fcec961ea570fa365ec256bd4db3ad.jpg

5aa70f7212f0a_11-30-2009GULong5.jpg.92cdc58b4de86304adebde067c964993.jpg

Share this post


Link to post
Share on other sites
we have hit the first PT for +26 (26.1 as we got .1 positive slippage). Second PT is 1.6494, and stop is BE on the remaining position.

 

We are moving our stop up to 1.6449, and otherwise we are holding for 1.6494.

 

Best Wishes,

 

Thales

5aa70f72256b9_11-30-2009GULong7.jpg.4c3010a8f5f2530440d4ba8fd56e6327.jpg

5aa70f722acc1_11-30-2009GULong8.thumb.jpg.de29999ebd747aa11ae81e9a85b7de92.jpg

Share this post


Link to post
Share on other sites
Moved to 1.1599...might be too tight, but like I said...getting impatient...

 

Looks like it was too tight. Oh well, I just wasn't comfortable at the time with what it was doing. (I don't regret my decision based on what was happening in real time.)

6J.JPG.6fe3d0eaa9e7e310571dc0ea9fd5569d.JPG

Share this post


Link to post
Share on other sites
We are moving our stop up to 1.6449, and otherwise we are holding for 1.6494.

 

Best Wishes,

 

Thales

 

Geez...and I might have taken that trade too, had I not been in the JPY trade. :doh:

 

I don't like multiple positions at once. One, I don't have the size (edit: I mean technically I could, the margin requirement's only $500, but I'd be too leveraged for my taste), and two, it makes me nervous becaue the currencies seem to be fairly correlated, and I feel like if I have on multiple positions it's almost like doubling up on one position...

Share this post


Link to post
Share on other sites
Great to see you folks making nice money on your trades!

 

It was just a matter of time before folks started to get in gear with the plus side of the equity curve.

 

Next stop ... consistency.

 

When are we going to see some hunnybunny trades?

 

Best Wishes,

 

Thales

Share this post


Link to post
Share on other sites
First PT hit.

Moved my SL to a new level.

 

Gabe

 

I was not paying attention but had I seen this chart I would have closed at the white line level as it is a formation for a new short.

 

Gabe

EJ_Nov_30_2009_15min-15.thumb.png.a1fcf66b15e65ac444740d407fd1282c.png

Share this post


Link to post
Share on other sites
We are moving our stop up to 1.6449, and otherwise we are holding for 1.6494.

 

Stopped at 1.6449 so +26.1 and +25 = +25.5 more or less. Not a bad afternoon.

My only disappointment is that I was hoping for a losing trade per Don's request as I am very curious to find out why he requested, specifically, a losing trade.

 

Best Wishes,

Thales

5aa70f7254b96_11-30-2009GULong10.jpg.03a006142e37c00219527e1a835458d3.jpg

Share this post


Link to post
Share on other sites
Stopped at 1.6449 so +26.1 and +25 = +25.5 more or less. Not a bad afternoon.

My only disappointment is that I was hoping for a losing trade per Don's request as I am very curious to find out why he requested, specifically, a losing trade.

 

Best Wishes,

Thales

 

I like to see some losing trades and i am looking for losing setups just so that my eyes are trained to see the condition that is there when i enter into a trade that is a losing one.

If the setup looks identical to the winning trade setup then I understand that the loss was not due to a bad setup but because of the statistical nature of this business.

 

Gabe

Share this post


Link to post
Share on other sites
I was not paying attention but had I seen this chart I would have closed at the white line level as it is a formation for a new short.

 

Gabe

 

This is how the short setup would have looked like.

 

Gabe

EJ_Nov_30_2009_15min-16.thumb.png.4c767ffb0a945152d2ce1e767e925f99.png

EJ_Nov_30_2009_15min-17.thumb.png.b7e788beac087a7fd229020393c37b19.png

Share this post


Link to post
Share on other sites
I like to see some losing trades and i am looking for losing setups jsut so that my are trained to see the condition that is there when i enter into a trade that is a losing one.

If the setup looks identical to the winning trade setup then I understand that the loss was not due to a bad setup but because of the statistical nature of this business.

 

Gabe

 

Nothing's really every "identical," in my opinion. It may seem like it, but there may be other things on the chart that make the situation different that you might not notice. I think a practice like that could be dangerous.

 

Just my :2c:

Share this post


Link to post
Share on other sites
Nothing's really every "identical," in my opinion. It may seem like it, but there may other things on the chart that make the situation different that you might not notice. I think a practice like that could be dangerous.

 

Just my :2c:

 

A setup can mean not just the immediate chart formation but things outside of the timeframe of the trading chart or it could be another instrument.

Gabe

Share this post


Link to post
Share on other sites

There is another person whith whom I discussed different trading strategies and eventhough he was very open in explaining his method (verbal, charts etc) I do not, to this day, understand what he does (to the point of making money, that is).

 

We had a chat online with the above mentioned person.

This time I was looking at one of his charts and he was explaining to me (again) what he was doing.

The difference was that this time some things clicked.

The interaction in realtime with the ability to ask and respond immediately made the difference.

What I realized was that J (we'll call him J) did in his head some background proccessing that he never mentioned when he tried to explaing things to me in the past.

It was those things that to him were trivial and he skipped during our chats without the charts that made the difference.

 

Gabe

Share this post


Link to post
Share on other sites
A setup can mean not just the immediate chart formation but things outside of the timeframe of the trading chart or it could be another instrument.

Gabe

 

Yeah, but STILL, even if you consider everything you know to consider, I doubt you can find two truly identical situations (EDIT: ie, specific news that's coming out, the time of day/year, players in the market, which players are on the sidelines, how big they are, infinite number of timeframes of charts that may indicate different things, certain indicators that are giving signals, and the list goes on forever).

 

If someone were to do what you're talking about, and decide that such and such trade was a loser BECAUSE of this and that (lets say you've had 2 losing trades on a seemingly identical setup), I think that will lead to filtering trades which overall may be a mistake.

 

For example, if one of those trades that Thales posted as "trying to get a loser" was a loser, you might say "Oh, that was a loser BECAUSE OF such and such on that chart, and I won't take a trade like that.", when really it may have been just fine to get into.

 

Basically, EVERY situation/setup you get into has a chance of being a loser, and if you filtered out every potential losing trade, you'd end up with NO valid setups in the end...

 

This is an extreme example and I'm sure you wouldn't take it that far, but I was just trying to make my point.

 

I'm not trying to argue or anything, and I know you have a lot more experience that I do, but that's just what I thought when I read that so I thought I'd share. :)

 

-Cory

Share this post


Link to post
Share on other sites
Nothing's really every "identical," in my opinion. It may seem like it, but there may be other things on the chart that make the situation different that you might not notice. I think a practice like that could be dangerous.

 

Just my :2c:

 

There is no IDENTICAL in trading (at least i don't think so) but SIMILAR there is.

Maybe I should have used the word SIMILAR instead.

When we look at patterns there has to be some wiggle room in pattern recognition.

Look up FUZZY LOGIC as opposed to CRISP/BINARY logic for a clearer explanation.

Trading requires FUZZY logic.

 

Gabe

Share this post


Link to post
Share on other sites

Talking about similiar/identical situations makes me think of the Paul Tudor Jones movie, "Trader," and the correlation between the 1980's charts and the 1920's charts...over 90% correlation. Crazy.

 

I've been lucky enough to meet PTJ via video conference, by the way! :D

Share this post


Link to post
Share on other sites
Not as though this is a big deal, but whether or not one says 'predict' the future, or 'anticipate' a certain thing happening, or an 'educated guess' is just a matter of semantics. In that it's just how one chooses to phrase a phenomenon.

 

The point is that we ALL take some guess as to where we think price is going to move, and place a trade based on that belief. That's the ONLY way we can make a profit. Whether you call it a 'prediction' or an 'educated guess' or 'anticipation' has no bearing whatsoever on whether or not a profit is made or if the trade selection was logical.

 

I think it just sounds cool to say things like, "I don't predict where the market is going, I just react to what it does," is just one of those trader cliches that sounds awesome and mystical.

 

I note that forrestang has already clarified understandings of anticipate and predict.

 

I'd just like to add another one. In our brains, when we say a word to ourselves it has linkages (groups of neurons fire). Predict has some very strong linkages and because primitive hunters were biased towards recognizing weak patterns (tiger in the grass) because spotting them 15 times wrongly didn't hurt much and 1x right saved your life, predict generates a sense of certainty that we logically know to be invalid. But the brain still has it.

 

So choosing words that the brain doesn't trigger on is important (humans are not logical especially when risk is involved). I now use anticipate or "think it might" or state odds like:

 

I think theres a 60/40 chance of a move in this direction ... and I can stop it there if it triggers so if it does move the win is likely to be X times the loss.

Share this post


Link to post
Share on other sites

16018d1259588838-reading-charts-real-time-11-29-2009-eu-ending-diagonal1.jpg

16034d1259598622-reading-charts-real-time-pa-patterns.jpg

 

 

"If price actually does break above then the move up is often powerful."

 

I guess I could say the same thing for a short. But you have no way of knowing. Any body could guess. But the truth is everybody here is only guessing! Even Thales. OK back to the program.

 

Don

 

Educated guesses...the same way meterologists, in their prediction of the weather, can only make educated guesses.

 

On this subject I'd add to Thales comment. Ask yourself why a pattern works. And ask "what are other traders seeing and doing here?"

 

In an ascending tightening flag people are saying "three little indians" and " the thrust is weakening" and stochs are flattening and macd's are showing divergence. So people are starting to dump to take profit or go short.

 

So, what happens if the pattern either fails to trigger or ticks the trigger then breaks back?

 

A much more powerful situation! Now the profit takers think about reentry and the shorts must exit. So all the people who saw pattern a) are wrong-sided and the ones who move back fuel the move up. Which is why, when they fail, obvious patterns can be strong ... and the better the R:R of the failure the stronger they are likely to be.

 

 

Ask not what the market will do for you ... but what you will do if it does.

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.