Libertarians take on trading

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MightyOne
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Postby MightyOne » Sun Dec 10, 2017 4:12 pm

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Re: Libertarians take on trading

Postby MightyOne » Mon Dec 11, 2017 12:55 am

Feels like a trap...

Obv. I am not suggesting that anyone go long BTC...ever. :lol:

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Re: Libertarians take on trading

Postby Libertarian » Mon Dec 11, 2017 5:17 am

There it is Nat, the daily. The higher TF didnt fail me. And I saw this in real time, it was just a dumb trade. This post actually makes me really happy as messed up as that sounds. I see it. I didn't have my perfect opens indicator which would have helped, but I see it. Now I'm mad at myself. dumb trade.

nat wrote:dont forget about H3 either! ive seen quite a few times where something looked iffy on H4 but H3 looked a lot better.

daily

gudaily.png

H3

guh3.png

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Re: Loss I took

Postby Libertarian » Mon Dec 11, 2017 5:23 am

Very valid point Leo, it was a little bit too cute of a trade. Feel free to question my trading abilities :lol: . They are very questionable :wink:

This is what I meant, it had bounced already at sup/res. Where I was sitting looking for an entry, but just let it cruise on by. Then I thought that was too easy and way too many people were sitting in profit off an obvious level. Sure enough they retraced back down. I should have been there. Too much small chart watching and missed the daily level. :roll:

Like I said the difference between really good and really bad is no bigger than a gnat's ball hair. :oops: [-o<

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Leoheart wrote:
Libertarian wrote:Here was a dumb trade i took. Late at night, should have been going to sleep, but I just had to trade it, and once again, the difference between Oh s**t and OMG is razor thin.

daily.PNG

So I missed the daily bounce off of obvious support become resistance, even though I was sitting there with my finger on the trigger, "here she comes...and it gone" :D :( this has been a VERY common theme this week.

But so I saw on the 4hr we just shot up, lots of



people sitting in profit. Thinking its time to fade this sucker back down to that D1 support.

4hr.PNG

So I start looking for my levels. I see my 4 hr level, price closes in the area, look to go short. NO problem.

1hr.PNG

So I shorted off the little 1 hr MO/BDP (first arrow) right as it came back to the zL (blue line). Price then closes higher on the 1hr and I think I better get out, but I see the 1hr level a little higher (4hr wasn't closed yet) so I hold thinking price is still closing in my area. Then the 4hr candle closes against me, outside of the 4hr level. Shoot, so I say, well then we must be going higher after all, and I see price breaking out of a 1hr pattern, So I was expecting PA I indicated with the lines, bounce and continue on. I set my short for TP and enter a limit to go long. Nope, price comes back to the level, closes back in the level with the 4hr and cruises lower to take out all those folks holding onto some $$. #-o =D> :roll: :oops: :x :cry:

One of those times where the smaller TF was the truth and the higher TF was the lie.


Imho, you should been done for the night after:

So I missed the daily bounce off of obvious support become resistance, even though I was sitting there with my finger on the trigger, "here she comes...and it gone" :D :( this has been a VERY common theme this week.

All the rest is your mind playing games. I suck at reading other peoples charts so excuse me if I am making no sense.

Edit: Commuting earlier. I don't mean question your trading abilities, but what do you mean when you say 'obvious support become resistance'. Imo, nothing is obvious until support Actually becomes resistance. If every situation in the market is unique, we cannot assume that support will hold for sure. Trust me, this is coming from a guy that learned from prop trades in my early days and have gotten burned enough times attempting to fade the market at Obvious levels. (Hopefully you were referring to fading :oops: , if not then please ignore this).

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Re: Libertarians take on trading

Postby Libertarian » Mon Dec 11, 2017 5:28 am

We get it MO, you know what your doing... :lol:

They flash resistance between levels...FADE.

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MightyOne wrote:Feels like a trap...

Obv. I am not suggesting that anyone go long BTC...ever. :lol:

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Re: Libertarians take on trading

Postby MightyOne » Mon Dec 11, 2017 3:30 pm

Libertarian wrote:We get it MO, you know what you're doing... :lol:

The flash resistance between levels...FADE.



I don't c-ck swing, Libby; it's low enough to ruffle feathers :lol:

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Re: Loss I took

Postby Leoheart » Mon Dec 11, 2017 5:42 pm

Libertarian wrote:Very valid point Leo, it was a little bit too cute of a trade. Feel free to question my trading abilities :lol: . They are very questionable :wink:

This is what I meant, it had bounced already at sup/res. Where I was sitting looking for an entry, but just let it cruise on by. Then I thought that was too easy and way too many people were sitting in profit off an obvious level. Sure enough they retraced back down. I should have been there. Too much small chart watching and missed the daily level. :roll:

Like I said the difference between really good and really bad is no bigger than a gnat's ball hair. :oops: [-o<

supres.png

Leoheart wrote:
Libertarian wrote:Here was a dumb trade i took. Late at night, should have been going to sleep, but I just had to trade it, and once again, the difference between Oh s**t and OMG is razor thin.

daily.PNG

So I missed the daily bounce off of obvious support become resistance, even though I was sitting there with my finger on the trigger, "here she comes...and it gone" :D :( this has been a VERY common theme this week.

But so I saw on the 4hr we just shot up, lots of



people sitting in profit. Thinking its time to fade this sucker back down to that D1 support.

4hr.PNG

So I start looking for my levels. I see my 4 hr level, price closes in the area, look to go short. NO problem.

1hr.PNG

So I shorted off the little 1 hr MO/BDP (first arrow) right as it came back to the zL (blue line). Price then closes higher on the 1hr and I think I better get out, but I see the 1hr level a little higher (4hr wasn't closed yet) so I hold thinking price is still closing in my area. Then the 4hr candle closes against me, outside of the 4hr level. Shoot, so I say, well then we must be going higher after all, and I see price breaking out of a 1hr pattern, So I was expecting PA I indicated with the lines, bounce and continue on. I set my short for TP and enter a limit to go long. Nope, price comes back to the level, closes back in the level with the 4hr and cruises lower to take out all those folks holding onto some $$. #-o =D> :roll: :oops: :x :cry:

One of those times where the smaller TF was the truth and the higher TF was the lie.


Imho, you should been done for the night after:

So I missed the daily bounce off of obvious support become resistance, even though I was sitting there with my finger on the trigger, "here she comes...and it gone" :D :( this has been a VERY common theme this week.

All the rest is your mind playing games. I suck at reading other peoples charts so excuse me if I am making no sense.

Edit: Commuting earlier. I don't mean question your trading abilities, but what do you mean when you say 'obvious support become resistance'. Imo, nothing is obvious until support Actually becomes resistance. If every situation in the market is unique, we cannot assume that support will hold for sure. Trust me, this is coming from a guy that learned from prop trades in my early days and have gotten burned enough times attempting to fade the market at Obvious levels. (Hopefully you were referring to fading :oops: , if not then please ignore this).



Did you not have the higher levels plotted with a H line on the smaller charts? If it is going in your direction, and you feel like you may 'miss the bus' , just trade at the H Line cross (Tro 101).

I think this statement is fascinating and pretty odd :lol: "Like I said the difference between really good and really bad is no bigger than a gnat's ball hair. "

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Re: Loss I took

Postby Libertarian » Mon Dec 11, 2017 5:46 pm

Can you markup what you mean? I've only really followed MO on here. And DTB like a RAT. I have never really followed TRO. Might be why I'm a failure after all these years. :shock:

Leoheart wrote:
Libertarian wrote:Very valid point Leo, it was a little bit too cute of a trade. Feel free to question my trading abilities :lol: . They are very questionable :wink:

This is what I meant, it had bounced already at sup/res. Where I was sitting looking for an entry, but just let it cruise on by. Then I thought that was too easy and way too many people were sitting in profit off an obvious level. Sure enough they retraced back down. I should have been there. Too much small chart watching and missed the daily level. :roll:

Like I said the difference between really good and really bad is no bigger than a gnat's ball hair. :oops: [-o<

supres.png

Leoheart wrote:
Imho, you should been done for the night after:

So I missed the daily bounce off of obvious support become resistance, even though I was sitting there with my finger on the trigger, "here she comes...and it gone" :D :( this has been a VERY common theme this week.

All the rest is your mind playing games. I suck at reading other peoples charts so excuse me if I am making no sense.

Edit: Commuting earlier. I don't mean question your trading abilities, but what do you mean when you say 'obvious support become resistance'. Imo, nothing is obvious until support Actually becomes resistance. If every situation in the market is unique, we cannot assume that support will hold for sure. Trust me, this is coming from a guy that learned from prop trades in my early days and have gotten burned enough times attempting to fade the market at Obvious levels. (Hopefully you were referring to fading :oops: , if not then please ignore this).



Did you not have the higher levels plotted with a H line on the smaller charts? If it is going in your direction, and you feel like you may 'miss the bus' , just trade at the H Line cross (Tro 101).

I think this statement is fascinating and pretty odd :lol: "Like I said the difference between really good and really bad is no bigger than a gnat's ball hair. "

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Re: Loss I took

Postby MightyOne » Mon Dec 11, 2017 6:32 pm

Libertarian wrote:Can you markup what you mean? I've only really followed MO on here. And DTB like a RAT. I have never really followed TRO. Might be why I'm a failure after all these years. :shock:


Right, someone or something else must be the problem.

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Re: Loss I took

Postby Leoheart » Mon Dec 11, 2017 6:34 pm

Libertarian wrote:Can you markup what you mean? I've only really followed MO on here. And DTB like a RAT. I have never really followed TRO. Might be why I'm a failure after all these years. :shock:

Leoheart wrote:
Libertarian wrote:Very valid point Leo, it was a little bit too cute of a trade. Feel free to question my trading abilities :lol: . They are very questionable :wink:

This is what I meant, it had bounced already at sup/res. Where I was sitting looking for an entry, but just let it cruise on by. Then I thought that was too easy and way too many people were sitting in profit off an obvious level. Sure enough they retraced back down. I should have been there. Too much small chart watching and missed the daily level. :roll:

Like I said the difference between really good and really bad is no bigger than a gnat's ball hair. :oops: [-o<

supres.png




Did you not have the higher levels plotted with a H line on the smaller charts? If it is going in your direction, and you feel like you may 'miss the bus' , just trade at the H Line cross (Tro 101).

I think this statement is fascinating and pretty odd :lol: "Like I said the difference between really good and really bad is no bigger than a gnat's ball hair. "


All I am saying is:

1. You already know your price levels on the higher charts right? IE, D1 will bounce off of support at 1.9800 (I made this price up).
2. Place a horizontal line on the smaller time frame at the same price (1.9800). So You will never miss your support level and can see how price behaves around it (1.9800).

How do I enter?

Place a horizontal line 10 pips above 1.9800. Picture this: Price is 'dilly dallying' around 1.9800. And eventually starts to take off without you. Your thoughts: Oh man..I'll miss the bus. PLACE your trade as soon as price crosses line you placed 10 pips above Your price level? Remember the price level?

Now if you understand what I am say, this should be easy. Here is the really kicker. I think you are looking for perfect entries aka greedy. If that is the case friend, you have long long journey ahead. I was the same for 5-6 years. I was thought to fade candles at key levels staring me in face, and Boy when it works its the most amazing feeling. You are up 60-70 pips in a matter few minutes (or secs). In the end, burnout is eminent.

Hopefully this clears it up, if not I'll post a couple charts later.

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