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.

quantumtrader

Wholesale Trading

Recommended Posts

This is my first thread here on Traders Laboratory and I just want to get it out there that I think this is a great resource for any trader to use and contribute to.

 

To give everyone a little background I am in the process of building a trading system with as the least number of indicators as possible. Now I do not want people to start arguing whether price is a indicator or not, whether trend-lines are indicators, whether support&resistance is a indicator, all I am using at the moment is support and resistance and the naked chart.

 

The pros have a different idea of where value is in the market or where they would enter a buy or sell depending on market conditions. A good example I keep hearing is that professional traders enter long below the support or short above resistance.

 

My question is quiet simple, do any of you trade in a similar matter with pure price chart no matter what time frame and support and resistance as a guide?

 

Cheers

Share this post


Link to post
Share on other sites

Absolutely. I try to keep my charts as clear as reasonably possible and this is important for me. However, there are two caveats. Firstly I have analysed the market already so I have context. Secondly I watch the market and order flow realtime.

Share this post


Link to post
Share on other sites

My question is quiet simple, do any of you trade in a similar matter with pure price chart no matter what time frame and support and resistance as a guide?

 

I do not trade pure price chart. if that means that I use no other indicators. I do use other lower study indicators. But for my base chart (price chart) all I use is price levels. Nothing else.

 

Sometimes the price peaks after breaking resistance, sometimes it doesn't. It depends on whether the price closes over resistance or not. If the price breaks resistance, even by a lot, but fails to close over, that's a sign of weakness. Peaks and valleys often have a price bar with a long tail on the bar or candle. There is also the situation where price hits resistance multiple times, but the high never goes over.

Share this post


Link to post
Share on other sites

If you are interested in Price Action then Point and Figure or RENKO can be a good option to consider there are many scripts for Meta Trader 4 platform that you can find to create Pure Price Chart and can create Support/Resistances to make a trading decision.

 

To me price charts are better options for a impatience trader like me :-D I use it on MT4 with Renko and happy with it. :)

 

Hope it helps.

Share this post


Link to post
Share on other sites

I trade intra-day with clean charts, except for the Volume in the lower frame of the charts. I watch simultaneously a daily chart and a 5 min. chart of the stock I´m trading, with an eye on the market.

Share this post


Link to post
Share on other sites

I agree with the previous two posters. Renko charts give you a very clean indication of trend, support/resistance and congestion. Volume is also extremely useful if you're simply looking at a naked chart. There's a thread here that focuses on volume price analysis that you may find helpful. I'd add one more element, and ties in with the comment on doing your homework before the session starts, and that is to also take a look at your markets on a higher time frame. Going to a daily or even weekly chart will help you gauge the markets trendiness or degree of consolidation, and that will make it easier for you to decide whether you'll take breakouts of S/R or fade them. I'll be looking forward to hearing how you progress with your strategy.

Good luck.

Share this post


Link to post
Share on other sites

When I'm trading on a 'non-indicator' chart, I like to look for the 2nd leg of a move. Taking a 2 minute chart for example, on the TF maybe, if a down swing fails to make a new low, and then the price moves higher, breaking what could be considered the 2 point, on your typical, 1,2,3 bottom I'll look for a 1/3 to 2/3 pullback (approximately) after that move, and then look to take a long trade from there. The idea is to catch a 2nd move that approximates the first move. You see this in your typical stair stepping trend but sometimes you don't get a trend but you do get a couple good legs where the 2nd one becomes a reliable a predictable price move. These are some of my favorite trades. The trick is knowing when the in between pullback move ends.

 

I do use an indicator for this idea, but only as a 'marker' for where I want to see this reaction pull back to, and then bounce off of. Of course it's the bounce that I'm interested in. I then use one of 2 measurement techniques to project my target where I exit part of my position and trail the rest. I do this in the opposite direction too. It doesn't have to be a 2 minute chart either. That's just an example. You can find a few good trades like this on most sessions using a 15 minute ES chart, for example. YM and NQ also work well with this technique.

 

Like what was stated above, you have to put it in context to the bigger view of what's happening in the market and look for your best setups. In fact, on some markets this same technique works well breaking out of sideways choppy action. Look for the second leg. I like the reversals that give that good first leg because the 2nd leg becomes very clear and the risk:reward ratio is very favorable. The stop goes right beyond what I identify as the end of the so-called reaction move. And since the reaction is only 1/3 to 2/3, and I'm looking for the 2nd leg to approximate the first, the r to r is good.

 

I view these types of trades as 'trades of opportunity' and fit them into my trade session outside of my regular trade system or tradeplan. My tradeplan allows for these types of trades, in other words, and I'm always on the lookout for them. It takes a little practice and it makes sense to learn how to get good at identifying these setups and trying it on paper for a while before trying it with real money.

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

    • there is no avoiding loses to be honest, its just how the market is. you win some and hopefully more, but u do lose some. 
    • 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 
×
×
  • Create New...

Important Information

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