Forex/Cryptocurrency General Chit Chat Thread

[Calpha K]

But if you have ECN terminals that big boys have then it is a no brainer because you can see all the stops being placed at what price level. Then they will try to take out all the stops that are highly congested at a certain price level to unlock liquidity. If you do not have a stop the big boys cannot take you out!

What does it mean by "take out all the stops"?

I keep hearing it but no idea how does it work?

Does it mean the big traders purposely sell, so that the the price will plunge and hit the SL?

 

[Mr. Wood]

What does it mean by "take out all the stops"?

I keep hearing it but no idea how does it work?

Does it mean the big traders purposely sell, so that the the price will plunge and hit the SL?

can also be your own broker.

 

[Mr.Canberra]

no books. until Mr Canberra complies all his past posts.
scalping is not for the weak hearted and shallow pockets.

Heart must be very strong to withstand daily 5 figures unrealised loss. Go for a health check first before starting to trade like me.

Many speeches, but maybe not so important.
Mario bros speaking on Friday but maybe nothing much also.

I think for Forex it is more or less priced in for the whole year. Mostly range trading these days.

What does it mean by "take out all the stops"?

I keep hearing it but no idea how does it work?

Does it mean the big traders purposely sell, so that the the price will plunge and hit the SL?

It applies to both directions. BUY or SELL to flush out the stops. They need the liquidity because their trade volume is huge unlike retail traders.

can also be your own broker.

Hahaha hard truths.

 

[Calpha K]

Yea, own broker do that too huh.

Why must they hunt the STOPS to get more liquidity? what does that mean?

 

[Mr.Canberra]

Stop Hunting

Why must they hunt the STOPS to get more liquidity? what does that mean?

This topic is very subjective. Those in the know especially institutional traders will not want to talk too much about their trade secrets for fear of breaching company policies. You need to research more if you are interested.

Anyway you do not have to concern about this stop hunting thingy because retail traders like us do not have access to ECN terminals to view order volume and stops. Just have to learn how to trade better by trial & error and not following the hype and media. They know where the congested trades are placed and will try to flush out those stops.

Then sometimes is sway sway invisible hands (central banks) come in and intervene. Your 100 pips stop loss order will also kena triggered. Lan lan sia haha. This one only can blame yourself to be in the wrong place at the wrong time! If you dare to play NO STOP LOSS = NO LOSS.

I ran through your past postings briefly. It seems you like to nibble a bit of each asset class. Specialise in something and not jack of all trades. End up knowing very little about each asset class. Specialising in one asset class is already a lifelong process. Let alone multiple ones.

I am still ever learning how the complicated world of Forex works and how it is rigged so I can execute my calls. And if you are as crazy as me you can short or long (NO STOP LOSS) in each trading day and hopefuly make some money. To me the Forex market is like a 'casino' with better odds at winning than those regular casinos. Hahaha!

And yes I do play small small at casinos to kill time during my jiak hong trips. I will instantly write off a certain budgeted amount as 'entertainment fees'.

 

[Mr.Canberra]

The Trading Floor 东方华尔街

Another legendary HK drama serial based on financial market. Produced by Andy Lau and and directed by Wong Kwok-Keung.

https://www.zaizai5.com/tvb/200113/player-0-0.html

 

[DukeCS33]

This topic is very subjective. Those in the know especially institutional traders will not want to talk too much about their trade secrets for fear of breaching company policies. You need to research more if you are interested.

Anyway you do not have to concern about this stop hunting thingy because retail traders like us do not have access to ECN terminals to view order volume and stops. Just have to learn how to trade better by trial & error and not following the hype and media. They know where the congested trades are placed and will try to flush out those stops.

Then sometimes is sway sway invisible hands (central banks) come in and intervene. Your 100 pips stop loss order will also kena triggered. Lan lan sia haha. This one only can blame yourself to be in the wrong place at the wrong time! If you dare to play NO STOP LOSS = NO LOSS.

I ran through your past postings briefly. It seems you like to nibble a bit of each asset class. Specialise in something and not jack of all trades. End up knowing very little about each asset class. Specialising in one asset class is already a lifelong process. Let alone multiple ones.

I am still ever learning how the complicated world of Forex works and how it is rigged so I can execute my calls. And if you are as crazy as me you can short or long (NO STOP LOSS) in each trading day and hopefuly make some money. To me the Forex market is like a 'casino' with better odds at winning than those regular casinos. Hahaha!

And yes I do play small small at casinos to kill time during my jiak hong trips. I will instantly write off a certain budgeted amount as 'entertainment fees'.

If you need to execute a large buy order for a client, and knows that the order would move the markets to your detriment (eg you are paid based on how well you execute, or you want to ride on the back of the client order but cannot do so only after you have executed the client's trade? What would you do if you know that there are good stops slightly below? You would run those stops by selling a small amount, then buy back your shorts and the client's order at lower levels, even if the execution of your client's order would eventually push up prices, you would still have achieved a much better result than if you did not trigger those stops and execute at market.
So that's a quick explanation of liquidity.
It applies across all markets.
Now if you know about this, would you still be placing stops in the platform or prefer to execute them when the level touches?

Pros and Cons - leaving stops expose you to an orchestrated trigger - how many times have the markets triggered your stops then ran in your intended direction of play?

If you do not leave stops, do you have the discipline to pull the trigger when level gets hit?

 

[Trader11]

If you need to execute a large buy order for a client, and knows that the order would move the markets to your detriment (eg you are paid based on how well you execute, or you want to ride on the back of the client order but cannot do so only after you have executed the client's trade? What would you do if you know that there are good stops slightly below? You would run those stops by selling a small amount, then buy back your shorts and the client's order at lower levels, even if the execution of your client's order would eventually push up prices, you would still have achieved a much better result than if you did not trigger those stops and execute at market.
So that's a quick explanation of liquidity.
It applies across all markets.
Now if you know about this, would you still be placing stops in the platform or prefer to execute them when the level touches?

Pros and Cons - leaving stops expose you to an orchestrated trigger - how many times have the markets triggered your stops then ran in your intended direction of play?

If you do not leave stops, do you have the discipline to pull the trigger when level gets hit?

There is an old saying:"A failed trade often becomes a long term investment"

 

[Mr.Canberra]

EUR/JPY

Total realised US$340.99 Din Tai Fung profit.

 

[Calpha K]

I ran through your past postings briefly. It seems you like to nibble a bit of each asset class. Specialise in something and not jack of all trades. End up knowing very little about each asset class. Specialising in one asset class is already a lifelong process. Let alone multiple ones.

Appreciate the advice.

Actually I started off with trying to learn how to invest, but along the way felt it is too long term.

Have since tried to look for a shorter term income generator as well, that would be Fx and perhaps penny stocks.

I believe you are a day trader, scalper in fact. But in your past, did you ever dabble with 4H/daily?

Would you advocate Nial Fuller as a reliable source?

 

[Mr.Canberra]

Actually I started off with trying to learn how to invest, but along the way felt it is too long term.

Have since tried to look for a shorter term income generator as well, that would be Fx and perhaps penny stocks.

I believe you are a day trader, scalper in fact. But in your past, did you ever dabble with 4H/daily?

Trust me trading is definitely harder than investing. I only trade Forex and this is what I am good at. I know little nuts about stocks.

How long I hold on to a postion will depends whether I am at trading desk or jiak honging. At trading desk I trade base on M1 to H1 chart. During jiak hong period I will trade base on daily/weekly chart.

Would you advocate N*** F***** as a reliable source?

Sorry hor I am only a Forex punter not pro trader. Not into technical jargons and complicated indicators. I trade base on 天时地利人和 and sentiments in the market. Meaning what time traders wake up, eat, sh*t and sleep. Magic timings of the day. At what time what event is happening. And so on...

Also I will not hesitate to report any one to Mod if they outrightly or subtlely sell any snake oil so as to keep this thread from pollution.

 

[Calpha K]

What would you do if you know that there are good stops slightly below? You would run those stops by selling a small amount, then buy back your shorts and the client's order at lower levels, even if the execution of your client's order would eventually push up prices, you would still have achieved a much better result than if you did not trigger those stops and execute at market.

What's the meaning of good stops?

I understand long, I understand short, but what does buying back the shorts mean? Or do you mean re-enter a short position?

I'm not sure if I got this right, but in some sense, is it that once stops are hit, traders who were previously in the trade are now wiped out and have to enter again, and thereby increasing liquidity?

 

[Calpha K]

Trust me trading is definitely harder than investing. I only trade Forex and this is what I am good at. I know little nuts about stocks.

How long I hold on to a postion will depends whether I am at trading desk or jiak honging. At trading desk I trade base on M1 to H1 chart. During jiak hong period I will trade base on daily/weekly chart.

Sorry hor I am only a Forex punter not pro trader. Not into technical jargons and complicated indicators. I trade base on 天时地利人和 and sentiments in the market. Meaning what time traders wake up, eat, sh*t and sleep. Magic timings of the day. At what time what event is happening. And so on...

Also I will not hesitate to report any one to Mod if they outrightly or subtlely sell any snake oil so as to keep this thread from pollution.

So, you are a punter and making a living out of it?

Nial Fuller has no technicals as well, he talks about purely price action.

Just like you stated, no messy charts, and that is something I am interested in learning. Genuinely curious to know if I should go into that. Not selling any **** or anything like that.

I have my own strategy, but requires too much monitoring for my liking. Therefore, looking for alternative strategies in meantime.

 

[cz287cj]

I do read Nial Fuller article and i some how quite successful in making some money when applying what he has taught. Of course there is another forex mentor calling Nial a liar.

So, you are a punter and making a living out of it?

Nial Fuller has no technicals as well, he talks about purely price action.

Just like you stated, no messy charts, and that is something I am interested in learning. Genuinely curious to know if I should go into that. Not selling any **** or anything like that.

I have my own strategy, but requires too much monitoring for my liking. Therefore, looking for alternative strategies in meantime.

 

[DukeCS33]

What's the meaning of good stops?

I understand long, I understand short, but what does buying back the shorts mean? Or do you mean re-enter a short position?

I'm not sure if I got this right, but in some sense, is it that once stops are hit, traders who were previously in the trade are now wiped out and have to enter again, and thereby increasing liquidity?

I meant to say good size stops.

 

[DukeCS33]

So, you are a punter and making a living out of it?

Nial Fuller has no technicals as well, he talks about purely price action.

Just like you stated, no messy charts, and that is something I am interested in learning. Genuinely curious to know if I should go into that. Not selling any **** or anything like that.

I have my own strategy, but requires too much monitoring for my liking. Therefore, looking for alternative strategies in meantime.

Automate the monitoring.

Have you used any screeners? They can be programmed to only show setups that fit your criteria - one you have shortlist, you can set price alerts.

 

[Calpha K]

Not using any screeners or automation.

How much are these automated services typically?

Using Oanda, MT4


And what does buying back the shorts mean again?

 

[Mr.Canberra]

EUR/USD

Total realised US$38.20 KFC profit.

By the way US$10,000 realised loss in August 2018 has since recouped by about 50%. Wounds slowly but surely healing.

One thing I learnt from this is that the scary part is not about losing money. The scary part is you lost your conviction and the will to fight. What does not kill you will make you stronger!

 

[Mr.Canberra]

EUR/USD

Safe buffer zone is between 1.45 - 1.47 for now! I think big boys doing 15-20 pips tight range trading. At least until 6:00pm SST.

Short and long scalp hor yi si! Those who huat liao do not forget to buy Mr.Canberra kopi.

 

[Trader11]

Stock market chuasai........