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Trading fast markets


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Trading fast markets

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  #431 (permalink)
Market Wizard
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Adamus View Post
Have you guys actually done his course? It sounds great from the description but it actually tells me not very much at all that I can use to judge whether the course content is something I would benefit from. I've been looking at the psychology of trading pretty intensely now for the last few months because that's where my problems all lie, so maybe this course will only tell me stuff I know already - and the only benefit would be the personal 'coaching' element.

Hi @Adamus,

I have done Ray's course Intuitive Development for Traders (IDT) via TopStepTrader.

That particular course does not have coaching and I believe that the coaching is in some separate course.

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  #432 (permalink)
prague, czech republic
 
Experience: Intermediate
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Adamus View Post
Have you guys actually done his course? It sounds great from the description but it actually tells me not very much at all that I can use to judge whether the course content is something I would benefit from. I've been looking at the psychology of trading pretty intensely now for the last few months because that's where my problems all lie, so maybe this course will only tell me stuff I know already - and the only benefit would be the personal 'coaching' element.

I've got the 101 lessons book by Dr. Steenbarger, looking forward to read it. Didn't do IDT yet, might consider. Too much at the table right now. I have signed for CTD.

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  #433 (permalink)
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I was considering doing both IDT and CTD for a while, planning to go through during the summer dolldrums, but I learned on Friday in TST squawk they are hiking the price on Monday. So I signed up on Saturdays starting today. Now as I checked CTD website, they indeed hiked the price from 1495 to 2995. So I locked in at the old price.

My reason to do this despite already been funded by TST, is I want to develop further. I was consistently profitable over time only with very short term momentum trading, I tried a lot of swing trading, position trading, but never was consistent or trusted any system or approach. I want to develop further, I want to trade size. Size always was a limiting factor to me.

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  #434 (permalink)
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I'm in week 1 of CTD right now. Also did IDT. IDT gives you a road map of the other variables you need to have down, entries and exits are only part of the equation.

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  #435 (permalink)
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BeansTwoNiner View Post
I'm in week 1 of CTD right now. Also did IDT. IDT gives you a road map of the other variables you need to have down, entries and exits are only part of the equation.

I am still waiting on my login/information for CTD that supposedly starts today. How do you like it so far?

My main reason was to unlearn all the bad basic things I have been taught over the years by several mentors, all this indicator madness, ema spaghetti, etc. I have found a refuge in trading price action, supply/demand and order flow, but really want to expand it further onto swing trading level and beyond the day trading.

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  #436 (permalink)
prague, czech republic
 
Experience: Intermediate
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Not at home this week, so did not trade on Monday, did a bit of trading on practice yesterday. Still adjusting default stop size and filters, but starts to look much better. Taking these setups is same key level zones warrant better results as for my main setup and allow for nice rides. Also helps to reduce number of trades.



The first trade here got somehow quacked from the trade by non-exiting tick, despite having stop 4 ticks away. Had to increase as this ain't fun. Then planned a short but at some point decided to try to catch it ticking down from the range and potentially going up, it hit my stop to the tick, but the whole premise was wrong. I need to limit myself to trading with stop market orders unless fading a very key level. Then few good trades I should have held longer. Overall a slightly positive day, starts to look better. Now with the setup being fixed I need to formulate stop management strategy and finally come up with a trading plan.

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  #437 (permalink)
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xelaar View Post
Hope this answers the question. If anybody curios about concepts that I use I recommend to read first a bible of markets "Trading&Exchanges" by Larry Harris published by Oxford Press for basics of market internals, price discovery, liquidity, exchange matching mechanisms, etc. Another great book about the principles of Order Flow Trading by Daemon Goldsmith "Order Flow trading for Fun and Profit". Also check out Jigsaw trading website for some free material. I am doing several videos for Peter Davis on trading fast markets with Jigsaw tools that I used last two weeks in my Combine trading, so check out those too when they are out.



Hi Xelaar,
I was following up on your recommendation to read "Order Flow Trading" and I can find it on Amazon apart from one copy for over 100 - is it so rare? It says it was published 2011. Is it an ebook?

I am currently looking at levels in the market and I can't find a description on your journal about what you use to establish your key levels. Do you mind sharing again?

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  #438 (permalink)
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Adamus View Post
Hi Xelaar,
I was following up on your recommendation to read "Order Flow Trading" and I can find it on Amazon apart from one copy for over 100 - is it so rare? It says it was published 2011. Is it an ebook?

I am currently looking at levels in the market and I can't find a description on your journal about what you use to establish your key levels. Do you mind sharing again?

Hi it was never sold on Amazon, I think 1000 copies were printed only. It costs 100 bucks new I believe or bit more.
It's not something you can't live without especially if you understand order flow already, but it can help a totally new trader to grasp how order flow works, stop liquidations. There are almost no ready made strategies in there, it's just a general overview. So bite no nails about it. You can get a sense of it at the author's site Trader Education

Levels.. it's must less about levels than about reading the order flow when price is traded at the level or nearby. But you can start with basic levels - just yesterday's high a low and see what you can digest from price action when it is closing on them.

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  #439 (permalink)
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Actually lately there have been quite interesting order flow related webinars here at futures.io (formerly BMT). Especially Peter Davis's, MarketDelta's and less so OFA presentations.


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  #440 (permalink)
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Actually I am aware of those seminars and they look good, but the reason why I was chasing up Daemon Goldsmith was because of an old announcement of a seminar by him on another well-known forum (not this one) that focuses on forex and part of the introductory blurb said:


Quoting 
Have you ever thought about who is participating in the foreign exchange market besides your fellow retail traders? If the answer is no, you should certainly change that. Although we can not have directly an insight into the order books of the large banks, we can identify some of the characteristics of important market participants and use this information in our trading.

In order to try to reconstruct what other traders might do, you have first to have a basic knowledge why the trade, how they trade and other known characteristics. Not all participants in a certain group share the same characteristics, but there a few that most of them do. So who is trading in the FX market?

So that got me interested because of the lack of volume data in forex and yet this talk about order flow. I'd love to take advantage of volume data-based order flow analysis with software like that from DionysusToast but obviously I'd have to go to 6E futures to do that and I'd lose the 1/2 ticks that I like in forex.

PS thanks for the pointer to his website - strangely I missed that one in google.

PPS Actually it seems that that quote above is actually a quote of Daemon Goldsmith - according to the user name on forexfactory.

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