[PICTURE] Can anyone please help me where to enter and exit here?
- Thread starter darkmoon47
- Start date
A simple question again...
Were you sitting side by side (in person) when he was placing these trades in front of your own two eyes ???
I ask that question again because its very odd that you keep spitting out a little more info in each of your message posts as if your friend is just sending you images online...nothing that you've witness in person.
Its just strange when new traders need to show images of somoenone's trading and ask others to "guess with analysis" about someone's trade method via a "single image" instead of using that same time & energy for you to hang out in person with your buddy for a precise accurate explanation regardless if you understand it or not.
Seriously, no more asking anonymous people to "guess" at what your buddy is doing unless you really do not hang out with your buddy in person during live trading. Thus, he's only sending you images of what he's doing. Then it would seem normal to ask others online to "guess" at what your buddy is doing.
Also, as I hinted before, some folks will "intentionally" put indicators on their charts when in fact they do not use indicators nor believe in them in their effort to keep secret their trade method that they really do not want to share with anyone. Simply, they've shed blood & tears to get where they are and they don't want to cough up their trade method to anybody that walks in off the street even if its to a "friend".
Many years ago, I've traded with a bunch of guys in a warehouse office in Seattle and I actually seen someone do this in person to a friend of his that dropped by to visit him during the trading day. He slapped on some indicators before his friend's arrival to our office and he has never used any indicators. Then when his buddy walked through the door (the guy drove up all the way from Portland)...he cleverly stated he doesn't have time to talk while trading because its a big distraction from his trading but it became very clear that his buddy was very interested in those indicators as if he's seen the holy grail.
Note: We've had a few ET members do the exact same thing over the years to intentionally send prying noises the wrong direction.
My point is that if your friend does not want to share his trade method...leave the guy alone and asking others to "guess at it" most likely will send you the wrong direction because nobody here knows your friend, his experience level nor any other trading related info that contributes to his trading success.
Also, we don't even know if you're being intentionally misled by your friend with some visable indicators on his charts.
Solution, spend more time with your buddy in person. The more he talks and the more you see of his trading in person during live trading...you may just realize you can not duplicate what he's done and you just may learn one extremely important aspect of trading...
There's a ton more to do in successful trading than just slapping on some indicators...much more than just looking at one image. Successful trading is more about you the trader and about the way you use your trading tools...reason why its extremely difficult for someone to duplicate another trader's success even if you knew the precise inner workings of the trade method after your buddy shared everything to you during a nice "barbecue with wine" while you're taking notes like an office secretary.
wrbtrader
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^ Thanks for you insight.
I would have NEVER started this thread if he allowed me to sit besides him! Neither he told me, like you said about successfull traders, where to enter and exit.
I just wanted to see how you guys interpreted this because some of you have a lot more experience than me so wanted a bit of suggestions. I know that system but just needed a bit of hints as to what 'can' be done here.
I won't ask anymore because this is over.
I would have NEVER started this thread if he allowed me to sit besides him! Neither he told me, like you said about successfull traders, where to enter and exit.
I just wanted to see how you guys interpreted this because some of you have a lot more experience than me so wanted a bit of suggestions. I know that system but just needed a bit of hints as to what 'can' be done here.
I won't ask anymore because this is over.
the median line and moving average are used as trend filters, the upper or lower vwap are used as mean reversion proximities. Only mean reversion entries are taken when previous wave high or low is busted. Otherwise trader only takes long or short based on trend filter and corrective retrace.
Very sorry to bump this old thread.
Now, replying to what you have mentioned, I have came to know recently that when I got my education for tick chart trading, we never were trained to look out for any trades based off VWAPs.
Therefore - even though it took me a while to click in mind until now - I have came to a firm conclusion that my friend there trades strictly based off price action on candlesticks only. Whatever trade rules we were taught, he was simply not following there in the picture - example, BBs are going up but he puts a sell / short order and actually hits his target, all this while breaking those rules.
But to me, it seems he is taking those trades simply based off candlesticks as there is no other explanation here. You can quote me on this as I might be wrong but I feel I am 99.99% correct in analyzing this.
He has not told us how he trades nor he has told us whether he trades only on candlesticks or not.
My question now will be - the point of bumping this thread:
1. Is it possible to become SO good to trade only on candlesticks price action patterns?
2. You have any suggestions / videos I can read / watch to become better in learning candlestick patters?
Thank you.
This time, it shows only candlestick entries. Please take a look:
Now from my understanding of candlesticks behavior, I would have enter long at 5th green candle because of a strong push from previous green candle. Is that correct?
For the next two trades, I do not know how and why he entered long. How did he know that next candle will go up and not short? Is there any behavior / pattern I am missing here?
Like I have said before, he doesn't care about BBs and strength of S/R lines at all as he's just playing with candlesticks.
Thank you if anyone can interpret those candles.