"monoid, post: 4094680, member: 486535" I had to think about how to answer your question(s), for any direct answer I give will definitely be lost in translation, for we lack a common framework to communicate our ideas without the risk of misinterpretation. So, the best I can do is to communicate my answer by way of a thought experiment. Imagine a world where everyone has very poor vision -- people can barely see things next to them. The only way they can navigate is by touch -- touch an object and try to determine what it is. As you can imagine, a person living in that world can never be sure what an object really looks like but might have a rough idea based on its shape as determined by touch. Now imagine a sub-group having access to corrective eye-glasses. This group can not only see the objects clearly but can also see the object's surrounding environment. Now, people from this world really like apples (an object). They would do anything to eat an apple. The only problem is that many of the apples also have poisonous snakes next to them. As you can only imagine, people without corrective lenses will more likely than not be bit by a snake more than they succeed in getting an apple. This on top of trying to find an apple given their poor eye-sight! On the other hand, the sub-group with corrective lenses can be more selective in picking the apple 'cos they can also see the snake next to it. So, this group might end up getting more apples than snake bites. In this thought experiment, the world is analogous to the market; the corrective eye-glasses is the framework a trader needs to 'see' the market; the surrounding environment is the context; and, the objects are trade setups. You asked me a question on 'objects', asking me how the price action is around it, and what I look for. I cannot explain that to you without you understanding my framework (corrective eye-glasses), and the way I interpret my context (surrounding environment). Even if I tell you the price action, it will not make sense to you. Having said this let me attempt the answer: I don't look for demand, for I don't know how demand looks like. I don't trade at the [key] price level 'cos that is not consistent with my understanding of price action I have gleaned using my framework. So where and how do I take the trade? I let price play out and then step up. The words play out can only be explained with reference to my framework. Now, you can see the difficulty of explaining today's trade to you. The only thing I can assure you is that none of this is subjective. Every single step in my process is objective. I want to continue with the thought experiment to explain one more opinion of mine before ending. Imagine that the people in our 'thought experiment' world have access to a ruler. Using that they can exactly measure the distance between the snake and the apple. What use is the ruler to the group that does not have access to corrective lenses? I am sure you will concur with me in saying that the ruler is of no use -- for, this group can barely see; they can't even be sure if an apple is indeed an apple, and most likely they can't see the snake. What use is the ruler to the group having access to corrective lenses? I would contend that the ruler is not of much use 'cos human judgement (of distance) alone is enough to protect the people in this group from getting bit by the snake. They do not need a ruler to measure the exact distance between the snake and the apple. The ruler is risk-to-reward ratio. Be wary of using it if you don't have corrective lenses to clearly see the market! And, if you have the corrective lenses, you will not need a ruler! All the best. Regards, Monoid.
Sounds like the way he trades isn't even remotely close to how you view the markets, DB. Surprised you like it so much. Is somewhat interesting, though. I bet he's one of the 3 or 4 traders on ET who actually make good money. Unfortunately, we'll never have the slightest clue how he actually does it!
The point isn't how he trades, but rather him having his own framework for purposes of viewing the market and repeated decision making.
Actually it's very much how I view the markets. But this post isn't about me; it's about him. And the thread is for the kinds of posts that open windows. I hope it remains here instead of being shuffled off to Educational Resources.
He 'doesn't look for demand and doesn't know what demand looks like'. He doesn't even use price charts and must use something much more advanced than what the rest of us are all looking at. (I always wonder what these guys ARE looking at/monitoring, in order to decide when/where to take a trade, lol) All of the education stuff on forums is always the same stuff, really. trendlines, indicators using price charts (time/volume/tick)etc etc. Nobody ever seems to be able to actually make it work in realtime, though. We need someone like this guy to spill the beans on what actually makes money! (won't hold my breath! )
I think he does use charts as per his recent messages. I wouldn't use the word "advanced".....I say it is something that cannot be seen with the eyes.....but seen with the mind!
Those who can and sometimes do here always get accused of being liars or scammers, so why bother? This place is largely the exact opposite of a group of elite traders, not just in experience but in basic attitudes. And here we have it. You're looking for a hand-out, not a hand up. So typical of so many here. Whether you're being facetious or not is irrelevant, because so many here actually believe they deserve free edges, apparently as a bonus of just being here. It's really galling for some of us to post guidance and hints, just to be slapped down by lazy-ass mooks who couldn't think their way through wet tissue paper without whining about it. I hope nobody ever just hands the typical ETer a working edge. He won't appreciate it, he'll overtrade it and then blame the benefactor when he ultimately fails.
I don't think there's any danger of that!!!! lol People with an actual edge (like sellindexvol666) won't say a word, and rightly so. People who start education threads etc, don't have an 'edge' Nobody will ever give a genuine 'edge' away