Sometimes i feel like 5 min timeframe bars are not equal to each other, in terms of time duration.Some of them could be 4m53s some could be 5m11s..for e.g.All that may confuse.Squeezes and stretches are algos too. What is it 'poc price and vab and vat' btw?
POC = Person on Cocaine. The term refers to energetic, restless market, with the price all over the chart. Not to be confused with the term "Polish Orthodox Church", which refers to a trader stubbornly unwilling to give up his convictions about the market direction. VAB = Volunteers Association for Bangladesh, as in useless, mindless trading which only benefits your broker. VAT = Vaginally Associative Trading, meaning trading for the sole purpose of using trading income for sex.
Trading methodologies work for 20+ yrs not what most people term an edge . The term edge came from the trading pits . Its when a trader steps in front of the bid then dumps it at the offer. That is actually where the term originated in trading. Also that was the origin of the term scalp the markets. How do I know for sure a career on both trading floors in Chicago. Brokers , CTAs , and anyone with a computer who can create hypothetical system bent results . Have hawked their products with these buzz words. Not even correctly. The only reason I assumed you may have. Is some of your posts use a of the terms and rational they sell. And most traders begin with purchased education of some sort. I like you didnt I learned most everything I know from more experienced trades I worked with. And like you. I know very successful day traders who made the migration from pit to screen. They too don't teach ,mentor or sell anything publicly. Again if some had the "holly Grail" Or even a red light , green light script or system that worked . It would may no sense to sell or lease for fees. I would much rather take incentive fees for the duration of its use. Let alone someone reverse engineering or crack the license.
I think we get a fair wack. If we research for a proven theory in our own method. For a lot of reasons. The thing I think to avoid is the idea of placing orders with 100s or thousand of others to see if it becomes a self fulfilling prophecy that day' It its broadest term. I trade price action , Dom, T/S . Use Dom for prices Entry/ Exit. Correlation with only price action based studies on chart. I am able to trade between the prices the herd uses. Small stops small objectives. Very little projection more take a Que from bid/offer being lifted or hit. Size being trading to determine if Amateurs or professional. Really very simple time tested stuff. Again I'm not sure what you were looking for in question
You should have been able to have a higher W/L rate with all that price action,DOM etc..method, then 63% or 50%,no?Then what you suggest to avoid is pretty much the same what you suggest to do, only with less efforts and cost. You said 'don`t do what others do'.How do you know what others do?And i think the others do exactly what you are saying you do.
Maybe, Like I said earlier W/L ratio is 63% to 67% moves month to month. The suggestion is just what I do .And people I learn from. I do trade against S/R. Basically everyone does your right. But most "systems" use a predetermined set of inputs and calculation. Lets say you purchase software or script. Its a day oil prices move the market . You get a cross over then macd or whatever. Follow directions perfectly .Blindly enter a trade. like directed to . The problem is the price action or volume of Large traders, "algos" and funds are watching oil. The "static" canned system available for purchase display potential S/R and direction. But are sold as red/green light trading systems. Thats were most retail trades are. I think my method "not doing what others do" the average retail trader not professionals .Is different in that The trades and volume is there when its there. Not predictive .Prices used and the side I take is determined by current bib/ask and T/S activity. Not a study or macd etc that is predictive or lags. I'm not advocating any particular methodology. But I would never recommend anyone purchase a red/green light trading system.