Keep entering the trade at the wrong time?

[kd2029]

There is a saying in the professional trading community - buy wholesale and sell retail. Conceptually the idea is to buy where the big boys are accumulating and sell where retail is buying. In its most simplistic form is to buy retracement and sell rallies. The big boys supposedly don't chase prices but will work the market to get wholesale prices. It means they will sell to grab from weak longs.

ok I'm familiar with the concept to buy when large scale in the know buyers are there/institutional buying is going on but had not read it being described like wholesale. I thought it might have had something to do with maybe brokerage pricing available to certain clients which made no sense to me because I thought market price is market price how could you get a better discount through wholesale thanks for clarifying

 

[resistance]

Entry at right time and right position of the market ensures our profits. For example if we are watchin g market and thinking now we will place an order and take a long time to see trend and then put an order . It soon turns to back . We can not get desired results from it.

 

[wackypete2]

Entry at right time and right position of the market ensures our profits. For example if we are watchin g market and thinking now we will place an order and take a long time to see trend and then put an order . It soon turns to back . We can not get desired results from it.

Yes, we can see it the trend for to make trade at the rite time. We are thinking the entry when it is the time for prophets so we can make best trade. Then it will be the results of the exit to see how it can make for teh good forex but not to loose our money.

 

[malaguti]

Entry at right time and right position of the market ensures our profits. For example if we are watchin g market and thinking now we will place an order and take a long time to see trend and then put an order . It soon turns to back . We can not get desired results from it.

literacy at its finest

 

[Hate2Lose]

Hi Craig,

Have you read this book 35 Strategies & Techniques to Enhance Your Trading Psychology/Performance by Steve Ward which is going to answer most of the questions.
High Performance Trading

 

[Splitlink]

Hi craig5150,
Broadly speaking, I agree with the replies you've received that recommend switching to a longer timeframe. However, (and this is just my personal view), most traders would do much better to stop using any type of time based chart - of which candlesticks is the most popular. Unless time itself is a critical part of your methodology, time based charts tend to cause more problems than they solve. I might be wrong but, it sounds to me as if you're being mesmerized by individual candles which, for the most part, are largely meaningless. So, I suggest you stop trading real money, go back to demo and put up a Point and Figure chart. If you're not familiar with P&F and want something simpler to test out, use Renko instead. Both charting styles are ideal for day trading using tick data.
Tim.

Tim, it's a bit late in the day, but I do believe that you may be right. I used to use P&F years ago but , when computers and free, realtime charts came in, I switched to them, instead. So, having a problem with direction, I have started to use noughts, crosses and squared paper again. I've had a good day, today, so I may be waxing a bit enthusiastic!

The problem, as I see it, is that, although it is a fast method for one instrument, if you get interested in another one, it starts to take up time. so I may be blowing a bit hot. When It gets cold, I''ll let you know.

 

[alphadude]

imho psychology is all crap.
if you focus on finding that strategy that works for you; psychology comes by itself; few errors in live trading and you become conan the barbarian.

 

[timsk]

The problem, as I see it, is that, although it is a fast method for one instrument, if you get interested in another one, it starts to take up time. so I may be blowing a bit hot. When It gets cold, I''ll let you know.

Hi Split',
I'm not sure I understand you. On the face of it, it sounds to me as if you're not sure how to adjust the box size or reversal amount to get the macro or micro view that you want? I expect you're aware of dentist007's thread - if not, take a look and ask him as he's the resident T2W expert on all things P&F: learning to read price action with p/f charts

Personally, I'm pretty much a Renko man through 'n through these days. I rarely look at anything else. I adore their simplicity. Also, because they filter out noise and favour the prevailing trend, any indicators you use with them benefit by default. For me, indicators means market breadth indicators - primarily $Tick. In case you're interested - see the chart attached - each Renko 'brick' is 5 points.
Tim.

 

[malaguti]

Hi Split',
I'm not sure I understand you. On the face of it, it sounds to me as if you're not sure how to adjust the box size or reversal amount to get the macro or micro view that you want? I expect you're aware of dentist007's thread - if not, take a look and ask him as he's the resident T2W expert on all things P&F:

Sounds to me as though split is actually trying to draw these out himself. so where you have nice trends and shallow pullbacks, its all fine but as soon as you come up against something choppy, it will take forever to chart..
thats what I got from that statement..in which case the dawn of the computer is actually our best friend

 

[Splitlink]

Sounds to me as though split is actually trying to draw these out himself. so where you have nice trends and shallow pullbacks, its all fine but as soon as you come up against something choppy, it will take forever to chart..
thats what I got from that statement..in which case the dawn of the computer is actually our best friend

Hi Timsk and Malaguti,

Yes, that's what I meant. I am drawing Footsie. It`s no problem and fast, because I am not fussy about it looking too pretty. I could draw a few more but after that I don't have the time---my wife makes me take walks for the exercise!

Dentist is great but I like to bring them up tp date as I Irade.

I need a bit of time, Tim, to go into what you wrote about Renko--thanks a lot for the charts.