Wouldn’t it be interesting to have a Welcome Back! thread for old-time participants to tell us what they’ve been up to and what they’ve learned? I’m going to start one. Trouble is, they have to be still on this site to see it, but I can see if I can drum any of them out of the woodwork!!!
So I just started a new thread in Lobby called “Welcome Back Old-Timers!!”
it is mate, but unfortunately when image upload tinypics closed it’s doors the vast majority of the technical graphs disappeared.
the message posts are still in situ which discuss the template, background observations, triggers & exits etc, but frustratingly the accompanying charting profiles are no longer visible.
the thread that TWB mentions above is a continuation/update of the templates information TalonD
some of the common reactive areas to observe are prior month, week & day highs & lows…if they also happen to dovetail with 00 numbers, you definitely need to sit up & pay attention.
collective groups of stop orders, including option triggers, park on & around those regularly active levels which generate decent follow through & reverse bounce action.
playing a directional momentum strategy based around that type of background set up will yield some pretty impressive returns, affording very acceptable risk outlay.
the thread TWB highlights, focuses exclusively on those key factors, sprinkled with one or two additional observational tools & explains how & why they work so consistently…the guys on the technical templates threads used them as the foundation for their profiles too
they were working as efficiently & effectively back in 2007 (when the templates threads first appeared on here) as they are today & will continue to do so because they’re based on herd psychology, which of course when you drill down into the mechanics of how a lot of the automated bots are programmed, you’ll observe why the moves into & away from these common levels attract such powerful participation.
don’t work hard, work smart.
Aye it worked well for many years, long before Andy brought it here, but the Captain has abandoned the concept back a couple of years - the market has changed with the advent of algos.
Welcome back TD
I see from reading that Edsel thread that they have dropped SR concepts but I still find them to have value along with the afore mentioned concepts. Yes it’s a shame the pictures are gone. I’m very much a visual thinker, Temple Grandin style. I’m going to go check out the welcome back thread.
When the previous posters refer to Ducks and Captains… (See Link Below)
Link to a condensed YouTube demonstration here…
Another of the more comprehensive threads to ever grace Babypips…
good video, I did a search and there are lots of 3 ducks videos on youtube.
Been here for a few years and pop in now and then!
I’ve been looking at day, week, month highs and lows and market structure. I had a few good trades today just following H4s down on EU in the major direction. It’s interesting to get back in the charts after a long hiatus. If momentum is down take the short and get the win.
Well no trade today. Watching mainly EU and order flows had no strong direction. Price was as flat as umm uhh… one of those things that are really flat.
How do you watch order flows? Is that specific to your broker or like market wide?
I don’t know if order flows is the right term. What I meant is there was no strong buying or selling pressure so price pretty much ranged all day. H1s are moving down now during Asia session so tomorrow may be another down day so I’ll be thinking about shorts.
Well last night I was thinking down on EU but today I saw the D1 bottom forming with price rotating to the upside so longs were in play. That goes to show you don’t let a preconceived idea override what you actually see happening in the charts.
Yesterday started out with a 10p loss followed by three wins of around 15p each. Today I saw another D1 bottom forming so longs were in play. I had one trade for the win 53pips. Would have been more but didn’t get a good entry. Still need to put in work on a rule set.
They are probably making progress or have moved on to something more important.
Most likely you are right.
I post a few trade thoughts here on EU but then move on to a new thread if things work out.
Looks like D1 top has formed so looking for shorts today in the NY session. But as always, do not let expectations override what you see on the chart.
Well results of the day. Looks like I was right about the D1 top and a down move. Unfortunately I missed good entry down but then saw the D1 bottom form as price rotated back up and got a small win going long on an H1 inside the D1.
D1 top was a bounce off a weekly level and it bottomed out at previous day’s highs.
I’m almost beginning to sound like Rred haha. He would say no way!
That wraps it up for now.