Buying low and selling high means knowing where prices are going to turn before they turn. This means knowing where demand exceeds supply and supply exceeds demand on a price chart in any market. For that information, please read my prior articles.
Do you have any links direct to the topic of what he wants to say?
Anyway the implications of the social media are difficult to appreciate. Well I am not going to follow some twitter mate because he buys or sells. The relationships are not that easy to establish.
However there are traders and traders. I just met in real life with a positional stock trader. He was completely unaware of the existence of real time free data feed of MT4 and alia. For his trading decisions he only looked at fundamental data on sites and end of day prices. He tooked orders by calling his bank by the phone. Yes that exist people are different.
I realy liked:
simple wire transfer would be quicker and less painful for the novice retail trader or investor, but I guess we wouldn't need markets then and that would not be good.
Please do not upload them, google will punish me. Google has algorythms detecting copy pasted material and punishes hard the people who do that on their sites. Links are OK.
I chqcked briefly this article . He uses score basis system. This is a sound methodology. I can adapt it whit what we know for Forex about the Forex open orders information.
Look here. I was able to see that a drop from that level was possible. However to transform this into a positions a lot of things need to be taken into account. For example the risk level can be from Brain Trend.
I found a simple inconsistency in the code of brain trend that makes the stops being very close to the market. I created a version with bigger risk level but the stops are less frequently hit.
-Fractal dimension and entropy levels - that leads to a market state identification
-Signal to noise ratio from Ehlers gives additional insight of the quality of the signal (Coronna System rocks)
-Once the market state is idnetified - we try to identify where we are in this market cycle.
-Are there any important correlations?
-Is there something important going on from fundamental perspective?
We look the orders as a map - is there accumulation of stops nearby, where are we going directly into an orders accumulation area.
We look at what time of the day we are and what is the expected volatility with this particular time of the day
We look for directionnal bias using our favorite instruments and systems.
We evalutate the risk of the particular deal.
We cross the fingers and enter.
Well using systematic expert analysis combined with a system or panel of systems (optmimized according to the rules of system testing, development and optimization) is not an easy thing. The experience come with years. And I am very thnakfull to the people who introduced me into this knowledge. I am still learning to apply it properly.
Indeed he is writing important things, the basics are very well explained. I like to read the same things again and again because I always consider I miss something. However he writes from the perspective of an experienced human trader (it is completely different issue if the huma traders can survive in the modern algorythmic markets). Most of the people do not know but most of the articles of technical analysis are written by people who do not understand those things very well. There is a big difference between the chart pattern analysis in general and the forex implications (I mean the volatility implications).
His most important concept is the support and resistence balance and unbalance. I agree with him that all the technical chart patterns resume to support and resistance.
I treat that with two instruments: Oanda open ordrers the charts are not always clear the open orders are giving the important places.
The other new thing here are the entropy average prediction bars. A peak would indicate that V top or bottom is nearby.
I am thinking about a new group about price action analysis. A place where to gather the available information. In fact it may look complicated but all the price action is based on some very elementary chart patterns.
The best author I know in this area is Joe Ross. For algorythmic traders that may be useful because a human visual inspection is necessary.
Oh yes there are many forums and threads but I would do something a little bit different. There is nothing new under the sun. This Kenny Z has a great site with a lot of nice video collection.
1. There are really no secrets among professionals about patterns.
2. My point is that the price action patterns can be reduced to some simple and concrete patterns. Most of the developments are highly redundant. Is it me or I see things differently. Just because of those fringe analysis I decided to write this in my place.
3. The patterns can be statistically tested. Without this preliminary work it is an artistic imagination.
Comments
The guy says:
Do you have any links direct to the topic of what he wants to say?
Anyway the implications of the social media are difficult to appreciate. Well I am not going to follow some twitter mate because he buys or sells. The relationships are not that easy to establish.
However there are traders and traders. I just met in real life with a positional stock trader. He was completely unaware of the existence of real time free data feed of MT4 and alia. For his trading decisions he only looked at fundamental data on sites and end of day prices. He tooked orders by calling his bank by the phone. Yes that exist people are different.
I realy liked:
I have several of his articles. I'll upload them.
A typical example of a Sam Seiden level can be seen in U-Chf right now, 0.9127-9134. Low risk-high reward.
SAM SEIDEN ARTICLES CATEGORY ARTICLE Classical Patterns, Do They Work? Why Trade Futures? Your Belief System is Your Trading System Expanding on Oscillators, Indicators and Supply and Demand The Objective Filter for any Indicator or Oscillator: Supply and Demand Portfolio Diversification, Truth vs. Myth An Introduction to Foreign Currencies "Set It and Forget It" - The Key to Taking Emotion Out of the Game Translating Floor Trading Emotion into Screen Based Trading Look To Your Left! Objective Rule Based Trading with Consistent Low Risk/High Reward Results A Key Factor For Trade Success Success in the 30-Year Bond A Lesson on Supply and Demand What Happens When You Stick To the Rules Important Rules to Follow A Lesson in Options Take Advantage of the Equity Market Volatility! What is Going on in the Futures Market? New Newsletter for Swing Traders Are You Prepared to Trade in 2008? Trading and Time Find the Novice Trader Find the Novice Trader, Part 2 Indicators And Oscillators Are Wonderful If You Use Them Properly The Qualifier - Support (demand) and Resistance (supply) The Morning Gap, Low Risk Opportunity for the Astute Market Speculator Seriously, I Thought It Was a Joke... Emotion Always Pays Logic The Dollar, In Real Money Terms The Morning Gap, Part 2... The Cycle of "IT" Sources for Trading Opportunities in Stocks Portfolio Insurance Think Like a Goose Illusion Creators That Pay Support and Resistance, a Deeper Understanding Putting Online Trading Academy Tools to Work for You Supply and Demand Q&A With Sam Seiden The Most Popular Entry Strategy in Forex Trading Trading and Time Part II Smoking Out the Truth, Part 1 Dollar Update Trading Systems - A Complex World with Simple Answers Success, Failure, and Fear Go Hand In Hand The Importance of Charts and Indicators Websites You May Want To Consider What Traders Can Learn From Women Trading Plan Tips Dollar Update Three Simple Principles The Morning Gap, Part 3 Keep Your Option Trading Simple Keeping it Simple in XLT Scanning the Planet for Low Risk/High Reward Trading Opportunities, Part 1 The Bigger Picture Trading and Gambling Trends, Gaps, Probabilities... Equity Index Futures Why All the Doom and Gloom? The Global Forex Market Where is the Dow Going? Discipline and Patience for Any Trader Gaps, The Novice Trader Exposed... Markets and Market Timing Whose Supply and Demand Is It? Translating Floor Trading Emotion into Screen-Based Trading Human Action is a Direct Result of Your Belief System Spot Forex vs Forex Futures, What is the Difference? Set It And Forget It A Basic Understanding of the Forex Markets Conventional Portfolio Diversification: Risk Disguised as Opportunity Short-Term Trading Tools Setting the Trap Three Ways To Reduce The Impact Of Emotion When Trading Market Timing in the Extended Learning Track (XLT) Course Four Hundred Years and Still Burning Gaps, Pro versus Novice The Cycle of "IT", Part II Q & A With Sam Seiden Trading vs Gambling, Part 1 Back To Basics with Indicators and Oscillators Real World Futures Trading in the Extended Learning Track (XLT) Three Ways to Managing Risk News and Price, A Relationship Often Misunderstood Potential Pitfalls For the New Trader Identifying Turning Points Begins With Proper Focus Scanning for Opportunity, the Old-Fashioned Way Advanced Price Action Analysis Some Thoughts on Trading Psychology Governing Dynamics Governing Dynamics and Trading Psychology Plan, Execute, and Then Go Do Something Else More Important Than Trading A Year Long Journey, Lyndon is on His Way Your Belief System is Your Trading Style Pay Attention Frequently Asked Questions Demand and Supply and Your Nest Egg Simple Logic Always Beats Complex Illusion Who Are You? Breakout Entries Pro-Active Financial Management The Straight Answers to the Most Frequently Asked Questions Same Tools, Different Thoughts Why the Astute Market Speculator Loves Social Media Where Most People Get It Wrong Foolsville, Part 1 Motion Into Mass Losing To Win, It's All In Your Perception Questions and Answers – Things You May Want To Know Foolsville, Part 2 A Smart Trading Group, Getting Smarter Important Resources for Futures Traders Market Traps, Novice Traders Beware The Avocado Properly Thinking the Forex Market Conventional Technical Analysis Strategies, A Flawed School of Thought Mixed Feelings Three Ways to Speculate the Markets, Which is Best For You? Important Questions Answered on Trading Styles Out-Thinking Your Competition The Many Ways to Benefit from Proper Supply and Demand Analysis Don't Be a Blind Donor A Key Rule, Often Overlooked The Quest for Truth Planes, Trains and Automobiles Trade What is Real, Not What You Feel Trading Tools You May Not Find in Books Your Questions Answered Emotion Always Pays Logic System Trading – A Complex World with Simple Answers Got Questions? Sam has Answers! Proper Use of the CCI Patience and Probabilities Patience and Probabilities, Part 2 Copy - Paste An XLT "Edge" Building Rule to Better Your Odds Free Resources to Help Gain an Edge Where is the Stock Market Going? The All Star Entry (Lite) News, Price, Supply, and Demand Rate of Return You Have Questions - Sam has Answers! The Power of Simple The Check List Sam Answers Your Questions Why Proper Market Speculating is so Difficult for Most People Motion Into Mass: An Example Trade Motion Into Mass: Your Questions Answered Government Intervention and Market Price The Proper Use of Indicators and Oscillators Failure is Often a Necessity for Success News, Price, Supply and Demand, Part 2 The Psychology of Trading and Investing Key Trading Nuggets Q&A Profit Margin, a Must for a Successful Trade The Benefits of Futures Trading Perception vs Reality - Trade What is Real, Not What You Feel I Don't Use Indicators, But if I Did... Have a Wall Street Mentality Read Between the Lines Who Can You Trust? Price and Time Why Bother With Bonds? You and Your Surroundings Ten Year Treasury Note Futures Reducing Risk with Automated Trading Where is the Stock Market Going? The Bull Trap The Cycle of "IT," Part III Is it a Duck or a Lobster? Gain an Edge with the "All Star" Strategy Logic, Rules and Indicators Supply, Demand and Time Where are the Markets Going? The Power of the Futures Markets Why Keep Things Simple? Pay Attention, Opportunities May Be Right Around the Corner The Morning Gap, Not For Everyone Remove the Veil of Illusion from Trading and Investing A Simple Idea for Consistent Profits Who Really Makes Money? Don't Be Afraid Oops... Here is a Method that Will Help You with Market Timing Market Myths, Truths and Scams
Please do not upload them, google will punish me. Google has algorythms detecting copy pasted material and punishes hard the people who do that on their sites. Links are OK.
I chqcked briefly this article . He uses score basis system. This is a sound methodology. I can adapt it whit what we know for Forex about the Forex open orders information.
Look here. I was able to see that a drop from that level was possible. However to transform this into a positions a lot of things need to be taken into account. For example the risk level can be from Brain Trend.
I found a simple inconsistency in the code of brain trend that makes the stops being very close to the market. I created a version with bigger risk level but the stops are less frequently hit.
http://beathespread.com/discussion/view/230
-Fractal dimension and entropy levels - that leads to a market state identification
-Signal to noise ratio from Ehlers gives additional insight of the quality of the signal (Coronna System rocks)
-Once the market state is idnetified - we try to identify where we are in this market cycle.
-Are there any important correlations?
-Is there something important going on from fundamental perspective?
We look the orders as a map - is there accumulation of stops nearby, where are we going directly into an orders accumulation area.
We look at what time of the day we are and what is the expected volatility with this particular time of the day
We look for directionnal bias using our favorite instruments and systems.
We evalutate the risk of the particular deal.
We cross the fingers and enter.
Well using systematic expert analysis combined with a system or panel of systems (optmimized according to the rules of system testing, development and optimization) is not an easy thing. The experience come with years. And I am very thnakfull to the people who introduced me into this knowledge. I am still learning to apply it properly.
http://www.fxstreet.com/webinars/sessions/session.aspx?id=5a83a4f1-9801-4d34-b147-ae69f02170f7
Indeed he is writing important things, the basics are very well explained. I like to read the same things again and again because I always consider I miss something. However he writes from the perspective of an experienced human trader (it is completely different issue if the huma traders can survive in the modern algorythmic markets). Most of the people do not know but most of the articles of technical analysis are written by people who do not understand those things very well. There is a big difference between the chart pattern analysis in general and the forex implications (I mean the volatility implications).
His most important concept is the support and resistence balance and unbalance. I agree with him that all the technical chart patterns resume to support and resistance.
I treat that with two instruments: Oanda open ordrers the charts are not always clear the open orders are giving the important places.
The other new thing here are the entropy average prediction bars. A peak would indicate that V top or bottom is nearby.
Yes, why not.
These forums are all about p.a.
Kenny Z in this forum is pretty awesome these days.
And Red, that started this forum, is/was amazing, as are others in forum too.
Oh yes there are many forums and threads but I would do something a little bit different. There is nothing new under the sun. This Kenny Z has a great site with a lot of nice video collection.
1. There are really no secrets among professionals about patterns.
2. My point is that the price action patterns can be reduced to some simple and concrete patterns. Most of the developments are highly redundant. Is it me or I see things differently. Just because of those fringe analysis I decided to write this in my place.
3. The patterns can be statistically tested. Without this preliminary work it is an artistic imagination.