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I can explain it only in the riddle. Because this is a core and i do not want to give this that easy to everyone.
There must be natural selection of smart traders who will get it.
1) i do not qaulify - it is market. I am only listen and follow
2) what brings a result you wanted - this is what is working
3) what brings a result you didnt want is failed
Than you selling or buying what do you want to happen after you enter the market?
This is the core of what market is doing. It is deeply psychological things. All mathematics, order flow, price action and so on are comes from within a core.
Order flow creates price action and than price action creates order flow.
Thank you bloom, the comments and reasoning on the chart are very helpful. I was long from 18 since it exhibited a divergence I respect along with orderflow. Posting it here since you may not have access to my journal.
I mean prices and volume figures on DOM - they jump so fast, is it possible to get used to it after some time? I simply can't follow it.
Have gone through all the videos I think, but honestly sometimes I don't understand why this or that trade is taken. Sometimes you are missing certain points, but later you take it. You mention in your video "Phase is completed", what do you mean?
And at the same level you are saying "Low activity, probably we shall go lower". Why? If there's no activity, who know where it goes... Am I wrong here?
Big question here: how do you generally distinguish a power of sup/res levels?
What I mean is: very often when I sell near Support - the price turns around and goes up and vice versa. Sometimes I feel it is going to break, but can't explain that to myself so missing the trade, don't like to feel, want to see and reason to myself.
But still I can see a usual tape on your video as well. Is it used for seeing the speed it moves?
BTW what "tape and DOM" add-ons do you find useful?
A lots of work to do, it's VERY hard to stay unbaised. When you are out of the market - it's fine, once in - things change completely and you miss the exit point or reverse point, simply don't see the market conditions changed.
Bloom, one big question about the tape here:
So far I was using tape mostly in terms of speed. It reminds me a rollercoaster: fast-fast-fast-begin to slow down-slow-slow then stops. And that is a point a go the opposite direction, the move is exhausted. BUT all of a sudden the tape turns alive again!! And I'm being washed away of the market.
Sometimes the tape is just dead, so once it reaches some sup/res level it doesn't have power to overcome this point. This I also use to go opposite direction. Or is it better to stay away such times? Because sometime it feels everybody is gone for lunch.. So the price doesn't move anywhere.
Another problem I discovered - very difficult to follow the trend, always feel like "it is going to stop and go the opposite direction, the price is too deep/high". And normally if I didn't catch the bottom/top feel very uncomfortable entering the trade (buy/sell).
Bloddy hell you cant to understand because of believes you have and less experience. It is ok - normal
Market moves step bu step. To start new step market must complete previous.
If you long and price goes nowhere what would you do? Cover? The same thing will do thousands of peoples around the world. And what will happen than thousands selling? Probably will happen. You may be surprised but i DO NOT WANT TO KNOW WHAT WILL HAPPENS NEXT. I want to REACT not to PREDICT. This is why this is tramendous to have clear head.
I do not do this. All levels exist in the mind of peoples. Market does not care it is just matching orders. Your beleives creating those patterns and also levels. I am listening what market decides. If i see market about to break i do break out if the opposite i do the opposite. And than i am in i REACT. If i am wrong i am baling out. Thats it.
You will be amazed. I have the same issues. It is called uncertanty. And every trader on the planet has the same "misstakes" which are not misstakes if you get it. You cant predict market. But you can react))))
No it is not. This is TOTALLY JigSaw Pack. AAAAAALL of the tapes)))
Hmm. Probably you never try to resist HARDER. Try what i ment before say yourselg and convince yourself through a tension
Speed is EMOTIONS. Nothing more. FEAR or GREED. Faster it goes more emotions you see. Slower it goes less emotional traders becomes and vise versa
Imagine yourself staying at the garden and suddenly BIG ASSEATER dog appears and about to eat you with you shoes. You scared like hell and jump and run. And than dog dissapear you calm down. Any logic? EMOTIONS. Tape shows emotions. Little changes and buyers scared to death and start to sell to get out. Suddenly they realise they are assholes and start to buy in a desperation.
Bloom, man, where are you getting all these ideas from?? ))
Appreciate your sharing and "taking care" of the "kids".
When you recommend watching only tape without charts - am I right these days it should be done with Jigsaw (for example)?
I have tried watching TT - much more comfortable than NJ standard tools, Jigsaw looks same according to me. But used to NJ so shall try to mix it with Jigsaw tools.
Psychologically it's difficult because everybody wants to be right - that's the biggest issue.
The other issue is market understanding - it's coming (I hope so. At the moment it is like: "ok, lots of selling, but everything being absorbed, tick up, not far, again selling, again absorbed. Ok, it's time to buy, selling is exhausting, tape is running slower..." But once you are in, couple ticks up and huge selling starts again, this time taking the price much lower... And you are wondering to yourself "What the hell was that??" ))
BTW Does anybody has issues with health (blood pressure, eye sharpness etc.) by watching a monitor the whole day long?
. At the moment it is like: "ok,