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......like I said, I personally could pontificate; but you're not offering what
seems to me to be useful information... It's almost like saying "I'm losing
Money, so obviously all I have to do is the OPPOSITE of what I'm currently
doing !!!" which, of course, would be NonSense...
Remember YOU are the "Holy Grail". I agree with all of the above from Roztom.
The thing that has helped me the most...and this is after a couple of years of full-time screen time and going down many rabbit holes, is pretending I have a friend beside me and I am going to show them how easy it is to make $100 on one trade. Silly huh? I don't want to make a fool of myself so of course, then I wait for a high probabilty trade based on my rules and make the trade. That keeps me out of so-so trades, ones that just "look" like they are going to work, and ones that don't follow my rules.
I only have 2 set up rules/set ups, that work consistently. Of course once in a while they don't work out, nothing is guaranteed. How did I develop my rules? I love indicators, but I love simpilicity also. All my indicators were free from futures io, more or less. I can't tell you all my secrets, but the paid indicator has to do with second entries "Mack Style". The other part that I can tell you is that I take indicators and cull out the parts I don't use (make some parts transparent), and only use the parts that show me what I am looking for. This is a great noobie tip. I've read many post here, where that was the answer to the question.
I did a great deal of trial and error, and experimented with many instruments and time intervals. I also use multi time frames. I've spent many weekends/evenings sim trading on Playback. Sim will never equate to using real money, though. You gotta step in and get your feet wet.
The hard work and dedication will pay off, but you have to really want it and be persistent!! Maybe there is an easier way, but most figure it out just as outlined. Also, read, read, read futures io. That will be the biggest help of all!!
Thanks for your input. I trade one instrument with 2 time frames, so I agree in specialization. I am "hyperfocused" on the 2 set ups I am looking for while trading. I can usually see them setting up and wait the for trades to come to me.
OK !! now that's more my style... As my handle suggests, I'm also
hyper focussed; so I'm 101% on board with that !! Thanks.
About those setups... any hints for the Forum? What do you trade?
[EDIT] attached a screenshot of some of my "setups"; and now you can show
me yours !! The setups show a Purple line at the top (which is an Inventory
Imbalance) which is a SELL point; and similar at a bottom, a BUY point.
So simple Inventory Imbalance is, of course, what Market Maker trades
against, and so I think "I want to do what MM is doing!" lol
[EDIT2] clarification this is "after hours" trading which, in itself, is nearly
impossible so these signals are difficult to dig out... Looks like a total mess,
but it's all about MM swinging relatively "long" and "short" against the
Retail population... Black is an analog to Price.
In my experience, hoping Simplicity will conquer; is not very realistic ?...
Markets are far from simple. Just sayin'...
I'd like to add "Love is all you need" ! (but I doubt that helps either)
[EDIT] to be fair, I'm posting an image which seems very messy; but
which shows the Sell Signal through "Big Lot" Retail Buy trades (the Blue Dots)
at the last minute (too high; the wrong time) and the Downward spiking
of the Orange/Red spikes; also showing that MM was approaching the
top side of the Market with Large Size, since She was just about to
suddenly reverse and take the down-trend.
So I guess we can conclude that at least my personal Holy Grail is by no
means "simple"; but it's all I can figure to deal with such things. Tons
of computing power focussed on find out where the turning point is?...
Well Said , you took the words right out of my mouth . The only difference is it took me more than 2 years . I have loved the journey and all those thousands of hours .
Who said anything about conquer but yes you might find out sometime along your journey that markets in fact are simple. We traders make it more complicated, in our minds, than it really is.
Carry on.
PS: my comments have nothing whatsoever to do with your spaghetti bowl.
I agree with SunTrader's comments whole heartedly. Markets indeed are simple. Humans gravitate towards complexity because that is preferable to having to acknowledge the alternative. You can read hundreds of books, take courses, get a mentor, etc. - but at the end of the day - most concepts that work reliably are, in fact, quite simple.
There are inflection points in the market where the majority of market participants will get trapped - stuck long or short. These are the spots where the market moves away quickly and it won't stop until the last victim throws in the towel. It's like a freight train. The beauty of a situation like that is that it doesn't take very much money to find out if you're right. The risk: reward is asymmetrical. If your assessment is correct - things will go immediately in your favor. The best trades always do. And, when you're right - hold on until there's a frenzy of traders trying to enter or exit the other side.