thread: How To Trade With a Naked Chart

95025

quote yea in FX its unworthy. . Unless u have access to the interbank market but then again. . Like u said trading off the DOM on additional instruments like futures isnt useless, you will find games beeing played with yes. . And u. . If one knows what to lookout for ie. Expecting the upcoming course based on the action on the DOM etc.. Basically its only following the path of least resistance, u know associations cant put in orders / market or limit based on patterns support or resistance levels. . Etc. they will need to see exactly how the...

Look, having a DOM with real time order book and footprints was the real deal 10-15 years ago. Some traders who had access to platforms and knew how to play the sport, made a killing. But today it is a different story....
I shall tell you a secretagent. Now the edge is to learn and know what the algo traders are doing and follow them. (companies like Renaissance Technologies). Folks think that these companies do some complied rocket science, while it is just simple pattern recognition. They look for context, patterns, and specific market behaviour around news events.
For example in a range context they fade the daily extremes(the new highs/lows) buy placing limit orders outside the range(sell over, buy below), and also in trending context they fade the crowd who by default trade contrary to the powerful tendencies. For example they wait for the price to attain subject of support, await the crowd to buy there, then sell aggressively so the support area breaks and crowd is made to liquidate on lower prices. (that's where the guys pay for profit).
This game has been going on for quite awhile now. You just have to understand how to identify the pattern.
The exact same game is played during news releases! Unless the news is totally out of expectations, then they trade against the amount. That is why 8 out of 10 instances, for example you receive positive amount but the price goes only a little up(smart cash absorbing the retail/dumb volume) and then the price reverses and leaves new low and all retail traders begin to scratch their head in disbelief.

95025ahem, its still possible to identfiy fades, Fakeouts, Shakeouts and what not using a DOM... aswell as with a simple chart. .


Yea,, circumstance price action = anticipating


and most algos,,, are NON directional... there are numerous ways to skim a. . But retailers have to stick with movements unless they're a math geek. . And go down the option road--

and yes its possible to anticipate a future directional motion on particular price behaviour and how when and whatnot can play out whether this or that happens...

ie. fullfilled and unfullfilled expectations. . get it ?

There is a method of looking behind the charts and dom, based on the knowledge of market mechanisms (orderflow) and market plogy (smart versus dumb cash ) so to talk and yes one needs a reference point of some way...

BUT an MA is not noir represents support or resistance per se. .

A amount of support is an area where buying pressure overwhelms selling pressure. More specifically, support is your zone or level at which those who have sufficient cash to generate
#8203;a difference are prepared to demonstrate their support by stopping, and reversing the decline by buying. Whereas a degree of resistance is an area where selling pressure overwhelms buying pressure. More specifically, resistance is degree or your zone at which those who have sufficient cash attempt to halt, and reverse a rise.

And it...

95025

quote The items I trade (without indiors whatsoever ) are reliable bar patterns such as 1-2-3 formations, Ross Hooks, Slaughterbeck entrances, long bomb entrances, etc.

Which are Slaughterbeck and'long bomb' entrances?

95025

What are Slaughterbeck and'long bomb' entrances?

Slaughterbeck admissions (named after someone called Steve Slaughterbeck, as I recall ) are a means of entering transactions arising after Ross Hooks, in a really low-risk position. They are explained in Joe Ross's textbook Trading The Ross Hook, over roughly 7-8 pages in one of the chapters that were subsequent - sorry, I have got the book here and can't give an specific reference. I have seen incredibly little information about them online (despite searching for this ) and the little I have seen has ever been equally incorrect in areas and misleading general. For me personally, it's a top win-rate, low-profit method.

Extended bomb entrances are a method of jumping on a new fad in some circumstances (in the expectation that it may become a true runner) shortly after and as definied by a specific type of reversal bar-pattern. It stems from a notion linked to the age-old concept of nude flips but according to some definition that contrasts them with the positions of their antepenultimate bars (it was a new one, to me personally!) . I stole it - sorry, I can't at the moment remember which - and adapted it to suit faster-moving forex charts than the commodity charts from which it was originally devised/tested. The source of the name actually has something to do with baseball, so I believe (edited here to include: no, sorry, I meant American soccer ). It is a low win-rate, high-profit method by which hopes to break even, on average, (or even a little bit better) over the excellent majority of the transactions, while also ching the considerably more occasional big runner for the profits.

These two demand quite different money management techniques, of course.

95025Thank you Xela,

I googled but found precious little, but you have given me more to proceed.
Perhaps, you might post some charts examples of some time.

Thanks again

95025

quote completely 100000% agree

Second that...

95025

quote Appearance, having a DOM with real time order publication and footprints was the real deal 10-15 decades back. Some traders who had access to platforms and knew how to play the sport, made a killing. But now it is a different story
Just this week I stumbled upon http://www.noft-traders.com/ I don't know whether its the same; at least in principle it has to be, right? Seeing the stack of orders telling us how the market will move. Logically, that are the edge, no?

.... I will tell you a secret. Today the edge is to learn and know what the significant algo traders are doing and follow them. (firms like Renaissance Technologies). People believe these firms do some super rocket science, while in fact it is just pattern recognition. They search for context, patterns, and market behaviour about news events. For instance in a range context they fade the daily extremes(the new highs/lows) buy placing limit orders outside the range(sell over, buy below), and in trending circumstance they fade the crowd who by default trade against the strong tendencies. For example they wait patiently for the price to attain technical subject of support, wait for the crowd to buy there, and sell aggressively so the service area breaks and crowd is made to liquidate on reduced prices. (that is where the men pay for profit). This game has been going on for quite awhile. You have to understand how to recognize the pattern. The identical game is played during news releases! Unless the news is out of expectations, then they exchange against the amount. That is why 8 out of 10 instances, like you get positive amount however, the price goes only a little up(smart money absorbing the retail/dumb volume) and the price reverses and makes new low and retail traders begin to scratch their head in disbelief.

Can you show charts of how that can be done, or the way you do this? Otherwise, you are not telling us a” secret” are you? Most readers are aware of the because I am sure.
You say

you just need to understand how to recognize the pattern.

That the nub is in the”only” Again, would like to see how you'see' that the market and say what clarified on a chart; as an image is a thousand words.

95025

I am here to discuss with u all how to view chart with no tools or indior.

Nice thread you have begun, but so far you haven't discussed or explained very much if anything else. I hope you don't believe the thread has been hijacked with other commentators so far (2pages). Look forward to what you intended intended to share.

95025

quotequote Can you reveal charts of how this can be done, or how you do so? Otherwise, you aren't telling us a” secret” are you? Most readers are aware of this, because I'm sure. You state quote the nub is in the”only” Again, would love to see how you'see' the market and state what clarified on a chart; as a film is a thousand words.

Yup, there's absolutely no secret and dependent on the thread name I will attempt to exaplain how to read and interpret market activities on the fly via a chart,

in this case I chose gold in september on H1, yes its temptations but its for illuion purpose just...


1. We left a low of the day where price responded off 1. Buyers in this case stopped the decline and supported the price as of now,
we now can draw a line on that low in order to see how price reacts at or near that amount if it may act as future support level or maybe not



2. Price broke the support amount ratzher firece ie. On high momentum, triggering StopLoss levels of some bulls and probably some sell stop orders of bears
so we've got fresh money and fearful cash all running in the same direction at the same time, now its of great interrest how the market reacts to this liquidty
as we see there is no folloow thru into the downside, price remains near the broken low, this indictaes that you will find may some people buying to the panicing bulls
yet this is only the first hint, we still need to wait to get some confirmation whether this is a legit shakeout or not



3. We do this by analyzing the buying and its ie. Is it able if so fast to exchange back above support? And how far?
So one can basically say whether the rally back over support isnt able to at least takeout th 50% mark of the preceeding decrease
and the pace or speed of the rallie is rather poor. . We can speak of a weak rally and probaly due to a technical character ie. If that is the situation
one isnt looking at a shakeout but rather a resume in decline, in this case however we understand that the momentum is still great and we reunite well over th 50% mark
so we can state there is some buying pressure here and indeed possess a shakeout at hands, the next clue we want to see is a suitable retest of the shakeout



4. We do this by drawing the 50% of the preceeding rally, this case but if the retest of the highs stop greater then the 50% mark
we could also conclude that vendors are done for most part and shoud also be considerd as a indication of strenght, ie. When a retest ends greater or near the 50 percent is a fantastic indication
even thou the lows could be retest again, and if they hold or form a slighty higher low this may also be considered strong, in this case we bounce off the 50% mark
and that is the last hint that the fromer activity was indeed a shakeout and now we could watch out for indications of accumulation and an entrance in whatever one is trading



5. We've got draw a resistance level as price isnt able to move any higher so we may observe a range forming, on (5.) We see a test for vendors as a quick spike down towards support but we close off the lows, so there are no vendors there and also support holds, another indication of strenght and also an entrance opportunity



6. Price fiddles arround near suppport not really anywhere which only implies again that there is no interrest to the disadvantage, this pllus the context of previous price behaviour asures us we indeed whitness accumulation,now entries on the longside could have been looked for at the 4. And 5. On any lower TF with an SL under the lows of the shakeout however if we exchange the H1 in this case we whitnessed at (6.) Higher lows which could advertisement an entry opportunity or possibly a indecsision(orange) which could be used on the break of the upperlimit for an entrance with an SL under service



7. Sure enough the breakout occures on high momentum, starting with now in hindsight preliminary aid (1) a shakeout (2)
and a range of buildup between 1109 res. and sup. 1102 ...

95025

fullfilled and unfullied expectations trigers orderflow, the end result of the transactions taking place within the orderflow is price action. . basically .... PriceAction = The Result in Price Change following Trades/Transactions(orderflow) are implemented price action is a snapshot, set a lil circumstance into it, a nicely thought out and testet trading program and you got yourself a good starting point to become a profitable trader indiors are just a derivative of said. . PA / Transactions. .

Nice!