TYG's Story: Thoughts, Trades and Technicality

Trading Discussion Trade Journals
101


Hi @tomo22, when we are looking at Higher TF, we are still clouded by downtrend. So, the idea to short is still relevant. But, we need to observe current support. We need PA to show HH, HL.

If we play lower TF, such M15, we can see liquidity is being tested. We can do scalping with high RR. It’s also good opportunity to start averaging. The question is, will M15 analysis enough? No, look at H1, we need HH and HL to confirm reversal. So, if we want to follow M15, it have to be fast, Safer when H1 has second resistance break.

After all, everything is based on our money management. :slight_smile:

Note: Position I put, due to diff strategy., different perspective. The analysis above is a conservative approach.

102

Hi, @TYGMedia

hmm interesting yes i had a position opened but closed with profit. I wasn’t too comfortable with the position and i think i didn’t really think about the overall market condition.

I will pay attention for HH and HL

What do you do when you are waiting for makret to form? Look at other CFD?

Also how do you apply market dynamic in trading. i understand how this would be done when FA is realsed however, how would this play in TA

103

Hi @tomo22, while waiting market to form … I will do research and backtesting.

Example of my work :smiley:

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To understand market dynamic, you have to observe swing high/low. Look how it move in last 5-10 years. Try to follow it. It’s about RBR, RBD, DBD, DBR. But you have to understand the volatility and momentum. From here you will have understand market dynamic. Look at the ranging.

Actually BabyPips’ course has mentioned it. When you dig it more, it will help you to understand more about market dynamic.

104

@TYGMedia, wow haha i wish i could read and understand that code.

what is that code for? automated trading?

Thank for this advice. And thank you for always helping me :smiley:.

Current situation for EUR/USD

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Potnetially HL may be formed leading to HH lets see if a reversal occurs and breaks Structure

105

Hi @tomo22, yup it’s for trading automation. I’m trying to optimize my grid system and researching new trading methodology. Coding skill is really helpful in trading. It will speed up learning progress.

1 Like
106

how do i learn about automated trading?

like what programs are there? and where can i learn about it?

107

Hi @tomo22, You have to learn programming.

I’m using MQL5, Java and Python. Form MQL5 you can goto

1 Like
108

@TYGMedia, How does it even work?

do you have to purchase something?

109

Hi @tomo22, you don’t have to buy anything. It’s programming guide, about how to develop a robot. I’m only using robot that I create. You need to have programming skill. :slight_smile:

110

Hi @TYGMedia,

okay thank you. This isnt trading related but programming. Why isnt my node working in terminal?

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if you know why that would be amazing

111

Wow @tomo22, are you learning Node.JS? :slight_smile:

I have abandoned node.js for almost 1 year, due to better alternative with Python, GoLang or PHP.

The unexpected token mostly relates to Ms. Windows NVM installation. For you information, I’m 100% Linux and FreeBSD user. :slight_smile:

Solution is uninstall NVM and download the latest NVM. It can also be caused by VS.Code compiler path. It has to be updated to latest version.

You can run script directly from windows console or powershell to make sure. :slight_smile:

Screenshot from 2024-10-30 10-23-19

Screenshot from 2024-10-30 10-23-37

112

Hi @TYGMedia, No i not learning node.

Im watching an hour video about JS, just learning the basics. Currently, im learning Variables, constants, sourcing and primiative types. Of course there is much left to learn, but these are just basics. Node was one of the topics and was just curious to why node wasnt working.

Also to what level do you think is required to program your own bot for trading? do you suggest i buy a bot now and simutanesly work my way up to learning programming too?

113

Hi @tomo22, The best scenario is creating our own robot. I hardly can fine a good robot in the market.

You can start by doing the simple one, single entry bot, then swing bot. The most attractive one is grid system. You can implement many thing to make it reasonable safe. You need time to reach this level. You may reach this level if you are consistent enough. Just like any other business, you need to have passion.

You will never reach a breakthrough without full dedication. :slight_smile:
Please consider carefully. It took me almost 6 years to finally develop my first considerable good trading bot.

114

which bot would you recommend? on https://www.mql5.com/ ?

i have no idea.

Wow 6 years thats quite a long time haha.

whats it like being a sucessful and profitable trader?

115

Hi @tomo22, I don’t recommend you to buy EA. You have to learn how to manage an EA. EA has different treatment compare to discretionary trading.

You may learn this article for example.

You should learn more the articles. You will learn more about how to analyze market for real.

I don’t consider my self as successful. Profitable is yes. I have no gut and power like George Soros, I have limited fund and courage :smiley: Even as FM, I will trade carefully.

1 Like
116

Trade: EURUSD

I look at EURUSD, wondering :thinking: … what it’s so funny :rofl:

After a good fall, EURUSD ranging for a while. It’s a start of new trading season. Market has potential to use the fist of northern style. Mc Donald is starting a selling spree campaign, inviting us to buy Big Mac in a discounted price. :thinking: Really attempting … stochastic even has started the campaign earlier. What does stochastic sell?

I’m going to jump in, who ever want to join remember don’t blame me if you get diarrhea later. Cheap burger doesn’t always fit everyone. When we have weaker stomach, better wait until the “Udon” get tangled each others.

117

@TYGMedia,

Do you find that being a day trader you are able able to work anywhere you want. Being a daytrader is literally my dream. I dont care how much money i make i just want the flexability and ability to be my own boss and make my own decsions

118

hi @TYGMedia,

In terms of constants what does the term interestrate mean in Javascript. What does it do? place a numerical value?

I.E

Let (interestrate) = 0.3;

119

[quote=“tomo22, post:117, topic:1248044”]
Do you find that being a day trader you are able able to work anywhere you want. [/quote]

Hi @tomo22, can you imagine how can I bring my work everywhere? I need 20 monitors and 6 computers to work. When I am travelling, I need to bring 3 laptops, 2 tablets and 1 mobile phone. Let say, I go to Starbuck, can I occupy any area just to setup my equipment?

When you involve with trading 100%, situation will be different. The story of trading anywhere is an impossible dream selling by trading courses. If we trade only 10-50k in one account, that will be fine. The question is, can your cover your living cost with the profit? I doubt that, unless you turn into an aggressive mode.

You need at least 100k to have your living cost covered and generate saving. If we stay in a low living cost area, we may need lower capital. Question is, can you trust all the money (let say you have 100k), into a broker? Diversify will be the answer, you need to split into different brokers. Different brokers, different accounts, more tasks, finally need more devices.

More devices means need more attention, need good place to concentrate. Can you keep your focus in a public place? Let say, you are in Hawaii, under a hut, sipping a cracked coconut. Can you still be calm when you have hit 3 SL in a row? Being able to live from trading, your SL won’t be just 2-10 USD each. It can be 1-5k at once :sweat_smile: My SL at least 1.5k at once, 3 SL will cost me 4.5k USD.

I don’t know if others can have better experience. If I want to go holiday, I will stop trading, depend on robot only. I only monitor my accounts to withdraw or deposit if necessary. :slight_smile:

2 Likes
120

Hi @tomo, I don’t know what you mean. But Let is a keyword to define a variable in javascript. Let will set a variable available in within a scope, the area of { and }. :slight_smile:

1 Like