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.

Recommended Posts

Hi Johnw,

 

Thanks for the compliment... Yes, I developed the indicators myself (and to avoid the thought I'm trying to promote them here on this forum....they are not for sale)

 

Í'll give you a brief description what the indicators measure:

 

- Trend Filters (slow/medium/fast): These filters classify each bar with a certain degree of tolerance and measure the related swing length.

 

- Trend Index: This is the leading indicator I use for entering a trade. It measures the trend quality based on a dynamic oscilator length.

 

- Market Heartbeat: This is my version of the ADX.

 

- Market Power: Shows the gear-box of the market (same as a car).

 

very ingenious indeed

Share this post


Link to post
Share on other sites
Flex1975, the chart is too small (and can't be enlarged) to see what indicators you are using. Would you care to tell us what indicators and settings for each, you are using? And what time frame are you using? I would like to try to examine your use of these indicators and time frames, also. Thank you.

 

Hi Ricastein,

 

Please see my reply to Johnw for a description of the indicators. The settings of the indicators are all dynamic (inside the code)...so none of the indicators have fixed input parameters.

 

I don't use time frame charts. In my opinion time related charts are way too noisy so I use an alternative chart type. Another reason for using an alternative interval is because I'm a automated trader and writing profitable automated systems on alternative charts is less complex....

Share this post


Link to post
Share on other sites

One of the big decisions a trader must take early on in the game is to decide the frame type and size to be used.

 

Will it be a tick frame, or volume or range or a time frame

And will it be 100 tics or 5,000 contracts, or 4 tics or 5 minutes.

 

These two decisions have at great bearing on the outcome of the game.

 

And then a Trader must ask themself .."will I use the much proclaimed 89 tick frame, or will I take a huge risk and round it out to 90 ticks"

 

Once these decisions are taken, it becomes apparent that frames are synthetic interruptions to the flow of contracts through the Exchange at the Bid or at the Ask, solely at the convenience of the Trader.

 

The Close of each frame is a snapshot of the price at the regular intervals that the Trader has prescribed ... and the high and low of the frame may be untradeable depending upon the next tic, but that tic of course lies within the next frame.

 

This is the foundation that TA is built upon, and yet it invokes less discussion than TA itself ... not unlike architecture really, where the colour of the window frames is the source of much discussion, but the foundations hardly rate a mention.

 

So, let us say imagine for a moment that we are top-down Thinkers ... our primary goal of course is to make oodles and oodles of money on a weekly [ and one day on a daily] basis.

 

We repeat this mantra so many times to ourselves that it is chiseled into our DNA.

 

This is an excellent place to be in the game of Trading ... our hearts and minds are solely focused on making lots and lots of money.

 

Therefore it is perfectly consistent with our goal to ask ourselves at EVERY step of our journey .... "is this Indicator or derivative directly going to help me make big money"

 

It is a simple YES / No question ...just like our trades ... we win / we lose

 

How hard can that be ...

Share this post


Link to post
Share on other sites

I do have a few things to say about technical indicators when the timing is right, but this thread is NOT a forum to display all your favorite indicators, so please do that somewhere else. I'm trying to develop your sense of price action primarily, and I don't want to confuse readers of this thread with "the latest, greatest..."

 

'ppreciate it.

 

 

Luv,

Phantom

Share this post


Link to post
Share on other sites

Phantom,

I think what you are posting here is great. They way you trade conceptually is very similar to the way I approach the market. I can tell this thread is going to be a good one. I will be following with much interest and am looking forward to it.

Thanks

SRspider

Share this post


Link to post
Share on other sites
I promised to provide info (fodder) such that a previously clueless trader can get profitable; I never promised anyone profitability per se. That, of course, would be in violation of CFTC regs.

 

Please come here to learn, you're not invited if you're here to "stir the pot." Nes pas?

 

Au contraire you are not welcome here if you want to scam.

Share this post


Link to post
Share on other sites
hi Phantom,

 

I have just read your narrative with respect to your posted chart.

 

All very clear indeed to the point where even a person like I can follow and clearly understand

your thought process leading into your successful trade.

 

What I struggle with, is why you refer to Bolly Bands, 20 ema, MACD, Hammers etc,

when it is obvious that you can read price behaviour so clearly.

 

My thoughts too (particularly on the 'squigglies') . One doesn't need a BB to see price tightening up. One Doesn't need an MA to detect trend or a reversion to the mean. One doesn't need a MACD to see a new low is on less momentum to the last low.

 

I wonder if they can help as 'training wheels' until you can see these things with plain price bars? I guess they can also help with quantifying the magnitude of a phenomena (for automation or whatever).

Share this post


Link to post
Share on other sites
My thoughts too (particularly on the 'squigglies') . One doesn't need a BB to see price tightening up. One Doesn't need an MA to detect trend or a reversion to the mean. One doesn't need a MACD to see a new low is on less momentum to the last low.

 

One also doesn't need color to watch a movie (as opposed to b&w) but it sure makes the movie more enjoyable...

 

 

Luv,

Phantom

Share this post


Link to post
Share on other sites
Au contraire you are not welcome here if you want to scam.

 

If I ever intend on selling anything, I'll be sure to exclude you from the offer...that way, you won't feel scammed.

Share this post


Link to post
Share on other sites
One also doesn't need color to watch a movie (as opposed to b&w) but it sure makes the movie more enjoyable...

 

 

Luv,

Phantom

 

Well assuming price is what we are actually interested in watching it through inidcators is akin to watching a movie through time lapse photography that transforms the image as well :) Anyway I don't want to derail your thread and will be interested to hear about these crash rails later.

Share this post


Link to post
Share on other sites
If I ever intend on selling anything, I'll be sure to exclude you from the offer...that way, you won't feel scammed.

 

And there they are...the true intentions! Why not being honest from the beginning? All you had to say was...."Hello, I am Phantom and I am offering a paid coaching service for beginning traders. This is wat you will learn.........(and you make a reliable case of all information nuggets you're selling)".

 

Clear and honest...

Share this post


Link to post
Share on other sites
hi Phantom,

 

I have just read your narrative with respect to your posted chart.

 

All very clear indeed to the point where even a person like I can follow and clearly understand

your thought process leading into your successful trade.

 

What I struggle with, is why you refer to Bolly Bands, 20 ema, MACD, Hammers etc,

when it is obvious that you can read price behaviour so clearly.

 

Hi Phantom,

 

I made this post because I am interested to know why a person with your understanding of price behaviour, employs Indicators that are clearly derivatives of the price itself

... I am not including hammers because they are just name given to price within a certain frame... a descriptive name I will grant you, but never the less it is just a name.

I say this because if you were to rename "hammer" to say zebra, it would have absolutely no influence over the movement of the next tic.

 

And the movement of the next tic and the after that and the one after that is what we trade ...it is the game we call trading ...n'est-ce pas

 

As I say, I am looking forward with interest to your post concerning "guard rails" although I still cannot imagine how a person who can describe price behaviour so clearly as you, needs a derivative in any shape or form.

 

This is your thread of course Phantom and it must not be derailed, but I have come to learn along the journey, that anything that distracts a Trader from following price is in fact just that ......a distraction.

 

I know Indicators can be regarded as "training wheels" to be discarded at some later date,

but that is akin to giving up drinking tomorrow .... as the song says "tomorrow never comes"

 

I can tell from your subsequent posts that you are very passionate about this subject, which makes me anticipate the "guard rails" even more.

Edited by johnw

Share this post


Link to post
Share on other sites
Well assuming price is what we are actually interested in watching it through indcators is akin to watching a movie through time lapse photography that transforms the image as well :)

 

I, for one, couldn't care less about price...I'm only concerned with price direction, volatility and liquidity.

 

The indicators I use serve the function of amplifying price bar subtleties, when they exist, so I can more easily decide whether or not a market is doing what I want it to do prior to my entry. I don't necessarily use the indicators on every trade, but they are there for when I consult them.

 

Hope that clarifies things. If indicators don't work for you, so be it. I never said I was a "purist."

 

 

Luv,

Phantom

Share this post


Link to post
Share on other sites

 

The indicators I use serve the function of amplifying price bar subtleties

 

Please explain in detail what your definition of price bar subtleties are and how Bollinger Bands, an EMA or MACD are capable to highlight these "subtleties"...?

Share this post


Link to post
Share on other sites

Dearest Flex, Mighty Mouse, and anyone else who only visits my thread only to look for inconsistencies and spread quasi-malicious comments,

 

My posts are fully intended to be didactic in nature.

 

If, for whatever reason, my posts offend you, you are all certainly invited to refrain from coming here. I can tell by the sheer numbers of visits that some of the folks who frequent my thread are actually interested in learning something.

 

I just hope that the folks who are well intended are not put off by your comments because I intend to continue teaching in spite of all your off-color comments.

 

Furthermore, I will teach on indicators when I am ready, and refuse to be pushed around by the few of you who don't have the patience to wait, and don't know a good thing when you have it right in your hands.

 

Now go do something constructive with your time and leave us alone if you can't behave yourselves...

 

 

Phantom

Share this post


Link to post
Share on other sites
And there they are...the true intentions! Why not being honest from the beginning? All you had to say was...."Hello, I am Phantom and I am offering a paid coaching service for beginning traders. This is wat you will learn.........(and you make a reliable case of all information nuggets you're selling)".

 

Clear and honest...

 

How's this for clarity and honesty: my "coaching program" is unfolding right before your eyes, and its free of charge!

 

Pretty good deal, huh?

 

 

Luv,

Phantom

 

P.S. I do actually intend on getting back on subject soon. Sometimes a little housekeeping is necessary when running a project of this magnitude...

Share this post


Link to post
Share on other sites
I, for one, couldn't care less about price...I'm only concerned with price direction, volatility and liquidity.

 

The indicators I use serve the function of amplifying price bar subtleties, when they exist, so I can more easily decide whether or not a market is doing what I want it to do prior to my entry. I don't necessarily use the indicators on every trade, but they are there for when I consult them.

 

Hope that clarifies things. If indicators don't work for you, so be it. I never said I was a "purist."

 

 

Luv,

Phantom

 

Quite so. Whatever helps one make consistent decisions at the hard right edge. Your thread your rules :)

 

Don't tell anyone but I usually have an indicator or two on my charts, often ones I have written. Anything that 'frames' price like VWAP & SD bands or gives a proxy for order flow like cumulative delta or trade intensity. sshhh just don't tell.

 

Here is a chart of the DAX from this morning the VWAP SD lines frame price beautifully, great when I am feeling too lazy to hand draw S/R. Of course you still need to look to see what price is telling you at these levels but indicator it is.

picture3.png.8fc680bea3cc1b11253ad6e43259224e.png

Share this post


Link to post
Share on other sites
How's this for clarity and honesty: my "coaching program" is unfolding right before your eyes, and its free of charge!

 

Pretty good deal, huh?

 

 

Luv,

Phantom

 

P.S. I do actually intend on getting back on subject soon.

.

 

Yes please ... at the risk of putting you under pressure, it are the "guard rails" that interest me.

Share this post


Link to post
Share on other sites
How's this for clarity and honesty: my "coaching program" is unfolding right before your eyes, and its free of charge!

 

Pretty good deal, huh?

 

 

 

True and fair point...when it's free...a reader cannot complain about the quality...

Share this post


Link to post
Share on other sites
True and fair point...when it's free...a reader cannot complain about the quality...

 

Sure you can. Constructive criticism is no bad thing. Of course it would be his prerogative to ignore it. Mind you this is the first mention of 'quality'. Seems to be simply and clearly presented to me. What phantom is presenting is a pretty straight forward approach that is based on 'price action' that demonstrably 'works'. Sure you need some money management and it might be an idea to filter trades (times of the day when you can expect volatility to pick up for example), but at the end of the day its solid TA. Simple concept clearly presented?

 

I was going to comment on your first post. It seems that your approach is pretty radically different from phantoms. (of course I may be wrong) It would certainly seem to merit it's own thread if that is the case? I wonder if any 'criticism' is not really criticism, it's just you do stuff differently?

Share this post


Link to post
Share on other sites

I've never really been someone who spent much time in forums in the past... fact is that this is the first traders' website I've ever become involved with.

 

My background is in nuclear engineering but I've been day trading for a living since 1999.

 

I browse around the various topics and see a whole lot of information being passed that, at least to me, and I'm not the biggest rock on the planet, is very difficult to assimilate.

 

I devoted some of my time to this website and to you fellow traders because after breaking every trading rule in the bag MULTIPLE TIMES I had to create trading methods that were so easy that even a lazy, detached, bored, etc,, etc. guy like me could make money.

 

Please don't be fooled by the simplicity of my approach to trading the futures markets. The simplicity in my methods is paramount to my own ability to make big money, week in, week out. I've got 5 mouths to feed and not much patience for a losing trading program.

 

My hope is that at least some of you traders can relate...

 

 

Luv,

Phantom

Share this post


Link to post
Share on other sites
I've never really been someone who spent much time in forums in the past... fact is that this is the first traders' website I've ever become involved with.

 

My background is in nuclear engineering but I've been day trading for a living since 1999.

 

I browse around the various topics and see a whole lot of information being passed that, at least to me, and I'm not the biggest rock on the planet, is very difficult to assimilate.

 

I devoted some of my time to this website and to you fellow traders because after breaking every trading rule in the bag MULTIPLE TIMES I had to create trading methods that were so easy that even a lazy, detached, bored, etc,, etc. guy like me could make money.

 

Please don't be fooled by the simplicity of my approach to trading the futures markets. The simplicity in my methods is paramount to my own ability to make big money, week in, week out. I've got 5 mouths to feed and not much patience for a losing trading program.

 

My hope is that at least some of you traders can relate...

 

 

Luv,

Phantom

 

Hi Phantom,

 

Why not just stay with your original intent and do not allow yourself to be distracted.

If you quite correctly believe that simplicity is the key and yet you incorporate TA

on some sort of ad hoc basis, then I am as curious to follow your posts as I am to learn of "guard rails"

 

Just push on ahead

Share this post


Link to post
Share on other sites

Simple does not mean easy as the old cliché goes. Mind you if one can't make simple work the chances of making complex work are pretty slim. I don't think the problem is just assimilation, if there are too many variables and parameters involved it is much harder to be consistent at trigger time.

 

Edit: Yeah as JohnW says push on...I guess I am as guilty as anyone as decreasing the signal to noise ratio.

Share this post


Link to post
Share on other sites
Sure you can. Constructive criticism is no bad thing. Of course it would be his prerogative to ignore it. Mind you this is the first mention of 'quality'. Seems to be simply and clearly presented to me. What phantom is presenting is a pretty straight forward approach that is based on 'price action' that demonstrably 'works'. Sure you need some money management and it might be an idea to filter trades (times of the day when you can expect volatility to pick up for example), but at the end of the day its solid TA. Simple concept clearly presented?

 

I was going to comment on your first post. It seems that your approach is pretty radically different from phantoms. (of course I may be wrong) It would certainly seem to merit it's own thread if that is the case? I wonder if any 'criticism' is not really criticism, it's just you do stuff differently?

 

Hi Blowfish,

 

You're right...my approach is radically different but I also respect the approach of Phantom. The only thing that is important (in my opinion) when you choose to present an trading approach on a forum like this is to specify the conditions when you take the trade or don't trade.

 

For example....Phantom says he looks at volatility...is ATR, standard devation or something else leading...are there minimum volatilty values required....is there a minimum length (in bars, price or time) regarding the breakout before the hammer etc etc.... Only then you have a valid trade setup and that's something a lot of (newbie) traders simply do not understand...

 

If the trade rules are clear I can code a "Phantom strategy" and provide some test results for those who are interested...

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.


  • Similar Content

    • By David Carter
      My broker (Jones Mutual) advised me to use candlesticks when CFD trading, as the simple line graph option does not give you enough information - is this correct?
    • By inthemoneystocks
      One of the most important reasons why traders take big losses is because they often fail to recognize when a trade has gone wrong. You see, stopping out of a trade is probably the biggest fault of traders and investors. Often, this happens to young and inexperienced traders and investors, but I know many veteran traders and investors that struggle with this as well. Early in my own career I struggled with stopping out of a bad trade myself, so I can sympathize with this problem. 

      The problem with taking a loss is really two fold. First, the trader has to admit that he is wrong. As you all know, as human beings we all hate to be wrong. The ego simply gets in the way and we all want to always be right all the time. The first secret in this business is to check the ego at the door. The market does not care about your the color of your skin, religion or anything else. It will move in the direction of the money and that is the bottom line. Once a trader or investor goes into what I call 'hope mode' the trade is over. I'm sure everyone has been in this position at one time or another. Simply put there is no room for ego or hope in the stock market. The market is always right and there is no reason to fight it. 

      Here is the second problem with taking a loss, it hurts. Pain and pleasure are the two reasons why humans do anything at all. As a human being, we are always looking to have pleasure and avoid pain. Well, losing money is painful and many people would rather simply hold a losing equity than lock in a small loss and move on. I cannot tell you how often I see a trader hold a losing trade only to see the position move further out of the money. Many years ago I watched a day trader blow up a $200,000 account in a single day averaging in on a bad day trade. To this day I can remember the look on his face as his money vanished in thin air. Believe it or not, this trader could have exited the position with a $500.00 loss, but instead he kept averaging in and fighting the position until he was wiped out. As a rule, once you have your full position you should never average in on a trade. At that point, it is critical to know where your max loss is going to be and stop out if that level is breached.

      Now when should we stop out? The answer to this question is not that simple, but here is what I personally do. I always place my stop loss below an important breakout or pivot on the chart. You see, prior breakout or pivot levels are usually defended when retested. After all, this is usually an area where institutional traders and investors got involved, that is why there is a pivot low or high on the chart to begin with. If that level is breached on a closing basis then I will move out of the position. So If I took a trade based on a daily chart pattern then I will usually check the daily and weekly chart levels. If there is a major pivot on the weekly chart then I will use a week chart close as my stop out level. While this method may not be perfect, it has saved me from much bigger losses when I have been wrong.



        Nicholas Santiago
    • By LindsayBev
      Hello!  I am new to this forum.  I am interested in learning about candlestick reading.  I would appreciate hearing from any that will answer this post WHICH book you found the most helpful?  
    • By trading4life
      Hello, My name is trading4life.
      I just joined this forum.
  • Topics

  • Posts

    • Date : 23rd August 2019. MACRO EVENTS & NEWS OF 23rd August 2019.FX News Today A confluence of factors whipped the markets around Thursday heading into the Jackson Hole Symposium and Chair Powell’s comments Friday at 10 ET. Hawkish remarks from George (she dissented against the July easing) and Harker (who votes in 2020) weighed on Treasuries and erased early gains from Wall Street. Minutes from both Fed and ECB meetings were not quite the all out dovish signal that some had been hoping for and comments from Fed members yesterday also showed a degree of caution with regard to further easing measures. The curve in the US steepened again after inverting briefly overnight, the curve flattened and inverted further in Japan. Stock markets across Asia moved mostly higher although gains remained contained by caution. New Zealand’s central bank governor said he could afford to wait before declining on additional easing measures. Onshore Yuan set at its weakest for 11 years. Japanese core consumer inflation at a 2-year low in July. Meanwhile lingering geopolitical trade tensions and political jitters in Hong Kong, Italy and the UK add to an uncertain backdrop. US futures are also cautiously moving higher. The WTI future is trading at USD 55.37 per barrel. Charts of the DayTechnician’s Corner EURUSD returned to 3-week lows of 1.1064 today, after rallying to session highs of 1.1099 following the sub-50 US manufacturing PMI. Negative European yields appear to be taking their toll on the currency, keeping the Dollar in demand in place for relatively high yielding US Treasuries. This has likely been a major factor keeping EURUSD under pressure, especially ahead of likely ECB easing in September, and perceptions that the Fed will not be as aggressive in easing as previously thought. Key EURUSD level is the 27-month low of 1.1027 seen on August 1. USDJPY rallied to 106.64 highs. The risk-sensitive pairing can be expected to consolidate into today’s much anticipated speech from Fed chair Powell, from Jackson Hole. GBPUSD: Sterling had its best single day rally since March 13 against the Dollar. Cable’s high was 1.2273, which is the loftiest level seen since late July. The gains were sparked by comments made by German’s Merkel, who indicated that a solution to the Irish border backstop conundrum is doable by the October-31 Brexit deadline. UK Prime Minister Boris Johnson followed this up by saying at his joint press conference with France’s Macron that he was encouraged by his talks in Berlin yesterday, and that a deal, he thinks, can be done ahead of October 31. Macron, said, however, that while he has always respected the UK’s decision to leave the EU, the European project has to be protected, to which the Irish backstop remains an important part of ensuring this. Merkel’s remarks were little more than rhetorical platitudes, though enough to trigger a short squeeze in a heavy shorted currency. Main Macro Events Today   Jackson Hole Symposium – Day 2 Retail Sales ex Autos (CAD, GMT 12:30) – Retail sales are expected to have decreased in Canada, with consensus forecasts suggesting a -0.5% m/m decline should be registered in June and an unchanged ex-autos component at 0.3%. In May, Retail sales were disappointing, falling 0.1% for total sales and declining 0.3% for the ex-autos component. The decline in sales was driven by a 2.0% tumble in food and beverage stores. The report casts some doubt on the resiliency of the consumer sector to the ongoing parade of worrisome geopolitical and trade developments. Support and Resistance levelsAlways 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 HotForex Economic calendar.Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding on how markets work. Click HERE to register for FREE!Click HERE to READ more Market news. Andria Pichidi Market Analyst HotForex 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 FX and CFDs 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.
    • Thanks for your suggestions man!! Our own decision surely makes us or breaks us. Thanks once again, buddy.
    • Right, as a trader, we are our own boss so there is no fear instead of loss in this market. To learn the market we have to keep learning and following rules or our plan that we have decide for trading.
    • None trader or broker can control the market. There is no single person who is behind the Forex market so there is no way to be controlled the market with a man power.
    • EU is still trading in a range. I'm heading out of town tonight and won't be back until Sunday evening. 
×
×
  • Create New...

Important Information

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