Where are the bitcoin lovers now?

[Divorced w 3]

It is a volume weighted RSI. Volume is itself a leading indicator when used properly

No it isn't - it's a collection of activity in a moment of time - maybe at the best in the moment you see volume taking place in the moment that is out of character, and that's at the heart of reading tape, but unless you're sitting there watching flow, it's past data.

 

[BackInTheGame78]

No it isn't - it's a collection of activity in a moment of time - maybe at the best in the moment you see volume taking place in the moment that is out of character, and that's at the heart of reading tape, but unless you're sitting there watching flow, it's past data.

According to most pro traders it is but according to you it isn't...gotcha.

I would suggest the issue is in the way you are interpreting it.

Or are you trying to tell me strong moves with no volume or declining volume are usually not fake moves and that most moves with strong volume or increasing volume aren't real moves?

 

[Divorced w 3]

According to most pro traders it is but according to you it isn't...gotcha.

I would suggest the issue is in the way you are interpreting it.

Or are you trying to tell me strong moves with no volume or declining volume are usually not fake moves?

ok buddy, that's not what i was saying, but that's fine. i said that if it happened, it's a lagging indicator. if you're watching tape and you see it happening in the moment, it's leading. and apparently google agrees with me. i have been trading for almost 20 years. my mstr call position has fluctuated between 18-36% profit since we started this chat - 5-10k of real money. how's your trading this morning going?

 

[BackInTheGame78]

ok buddy, that's not what i was saying, but that's fine. i said that if it happened, it's a lagging indicator. if you're watching tape and you see it happening in the moment, it's leading. and apparently google agrees with me. i have been trading for almost 20 years. my mstr call position has fluctuated between 18-36% profit since we started this chat - 5-10k of real money. how's your trading this morning going?

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That's awesome! I'm not sure why you enjoy getting in these ridiculous pissing matches but you win.

I'm up about 7K in the last month with 13 green days and 1 red day. Was on vacation for 8 days within there so I had some missing days.

Today I am up $120 so far, waiting for price to come back to my level to get long most likely if it follows thru.

 

[Divorced w 3]

That's awesome! I'm not sure why you enjoy getting in these ridiculous pissing matches but you win.

I'm up about 7K in the last month with 13 green days and 1 red day. Was on vacation for 8 days within there so I had some missing days.

Today I am up $120 so far, waiting for price to come back to my level to get long most likely if it follows thru.

you started with me. still love you. good luck i am jsut trying to help people , mentorship can shorten the timeline significantly, learn right and small than do it wrong and big

 

[BackInTheGame78]

you started with me. still love you. good luck i am jsut trying to help people , mentorship can shorten the timeline significantly, learn right and small than do it wrong and big

The biggest thing I have learned is that I need to do my job in trading which most importantly is to lose properly and lose small and stop trying to do the market's job which is to win.

The market wins without my participation, all I can control that if the market doesn't behave properly is to fire it.

 

[Divorced w 3]

The biggest thing I have learned is that I need to do my job in trading which most importantly is to lose properly and lose small and stop trying to do the market's job which is to win.

The market wins without my participation, all I can control that if the market doesn't behave properly is to fire it.

if you follow technical analysis, you should get some good insight into where patterns may work out, which should help both your profit targets and your stops. stops are absolutely crucial. i lost around 100k a couple months ago not believing tlt was dropping in front of me. the market can be irrational longer than you can ever stay solvent.

 

[BackInTheGame78]

if you follow technical analysis, you should get some good insight into where patterns may work out, which should help both your profit targets and your stops. stops are absolutely crucial. i lost around 100k a couple months ago not believing tlt was dropping in front of me. the market can be irrational longer than you can ever stay solvent.

100%. I've learned this the hard way too many times and just stopped trying to tell the market what it should be doing haha

 

[Divorced w 3]

100%. I've learned this the hard way too many times and just stopped trying to tell the market what it should be doing haha

yep, cash is a position too

 

[Bible_Belt]

The biggest thing I have learned is that I need to do my job in trading which most importantly is to lose properly and lose small and stop trying to do the market's job which is to win.

That's way more important than stupid indicators on a chart. If you can do that, you could make money off random entry points. In fact, that may be what you are already doing without realizing it.

 

[BackInTheGame78]

That's way more important than stupid indicators on a chart. If you can do that, you could make money off random entry points. In fact, that may be what you are already doing without realizing it.

Nah...I have become quite good at trading my edge and it's not random at all.

I've put in the work, I've put in the time, I've taken thousands upon thousands of trades over many months/years.

I've spent hours upon hours watching videos and reading. In short I have become obsessive about it and when I become ocsessive about things I win and usually win big eventually.

Don't give me backhanded compliments, I've earned far more than that.

Save those for the random 20 year olds Yolo'ing without knowing anything and putting in no work.

 

[Bible_Belt]

Nah...I have become quite good at trading my edge and it's not random at all.

I've put in the work, I've put in the time, I've taken thousands upon thousands of trades over many months/years.

I've spent hours upon hours watching videos and reading. In short I have become obsessive about it and when I become ocsessive about things I win and usually win big eventually.

Don't give me backhanded compliments, I've earned far more than that.

Save those for the random 20 year olds Yolo'ing without knowing anything and putting in no work.

You sound like every trader I knew who lost everything, right before they lost everything.

 

[BackInTheGame78]

You sound like every trader I knew who lost everything, right before they lost everything.

You sound like a guy who hates his life and wants to drag everyone else down in his misery.

Already made that mistake enough times, this isn't my first rodeo. The only way people lose everything is because they are unwilling to lose properly.

I have become fine with that part and do so when necessary. Stop losses are your friend. Not trading news is your friend. Being patient and waiting for your setup and not taking random trades to hit a number is your friend. Not trying to make money and win is your friend.

Trust me, 90% of people trading(non professionals) haven't even put in 1/100th of the amount of work I have towards this. They may convince themselves they have, but they haven't.

Every trader my fvcking ass, kick rocks.

 

[Bible_Belt]

You sound like a guy who hates his life and wants to drag everyone else down in his misery.

Already made that mistake enough times, this isn't my first rodeo. The only way people lose everything is because they are unwilling to lose properly.

I have become fine with that part and do so when necessary. Stop losses are your friend. Not trading news is your friend. Being patient and waiting for your setup and not taking random trades to hit a number is your friend. Not trying to make money and win is your friend.

Trust me, 90% of people trading(non professionals) haven't even put in 1/100th of the amount of work I have towards this. They may convince themselves they have, but they haven't.

Every trader my fvcking ass, kick rocks.

Fine, you're God's gift to trading, even if you don't understand your own indicators. Everyone else can draw the same little lines on their charts. If any of them predicted the future, someone would have figured it out by now and therefore have all the money in the world. It doesn't work that way. You're making money because of your exit strategy, not your entries. Your chart indicator is like Dumbo's feather, you can fly just fine without it.

 

[BackInTheGame78]

Fine, you're God's gift to trading, even if you don't understand your own indicators. Everyone else can draw the same little lines on their charts. If any of them predicted the future, someone would have figured it out by now and therefore have all the money in the world. It doesn't work that way. You're making money because of your exit strategy, not your entries. Your chart indicator is like Dumbo's feather, you can fly just fine without it.

Never said that, but I am improving every day.

I understand my indicators perfectly well.

I am not drawing any lines, except for static lines that are on the chart the entire day that mark key levels that are major liquidity zones.

That's where your wrong. Because at the end of the day it still comes down to properly executing on a mechanical level with rule based systems that are devoid of emotion and that goes for both entering and exiting trades.

Most traders don't fully embrace that and still trade too emotionally, not trusting their setups and not executing when it's time to execute.

Before I enter the trade I know exactly where my stop loss is, how much I am risking to lose, how much my profit will be and where my first, second and third(small runner) take profit levels are.

I can tell you there are very few traders that would be able to say that. Most just wing it.

Again, sure I could. But the proper entry using price action is at the break of the neckline on these plays which is already deep into the move where my entry is near the top/bottom of the move so I am catching a much bigger portion and often times getting multiple moves before it even gets to the neckline.

Don't worry what I am doing. I'm doing just fine. Worry about yourself. I neither asked for your input nor need it. Are other people better than I am? Of course. I don't care about them. This isn't a d!ck swinging competition. I am competing against myself.

It's not about "what you could do" it's about what you feel confident executing that actually has an edge and has mechanical rules which are profitable long term. Most traders aren't even using something that has any edge realistically.

And what I am doing fits all of those as this is using market fundamentals that are present on all time-frames and all markets.

 

[Bible_Belt]

rule based systems that are devoid of emotion

That's true on electronic markets, which are predominantly computer trading anyway. The nyse still holds onto the antiquated human specialist system, so if you can find a guy working a big order and give him the market orders he needs at the right time, the price improvement setup allows him to stiff the institutional client just a bit by giving you a very generous fill as gratitude for helping him out. So there's still a little human emotion left somewhere.

Your software should allow you to draw fibonacci lines. They are retracement levels for any big move, and can be applied in any time frame. It predicts key levels, which by itself isn't a magic money maker, but it is amazingly accurate, something about human fear and greed waves being a cycle of nature, predicted by a pattern that permeates nature. The ancient Egyptians discovered it. Leonardo of Pisa was republishing their manuscripts.