For Those Looking for the "Grail"

 

Hello fellow traders,

First let me share with you a bit of my background then some valuable information.

I am known online as Pip, I have been trading since 2000. I have traded stocks, options, futures, metals, indices, and forex. I have developed and co-developed many tools online, some are free and some are otherwise.

When I first started trading I too was looking for the "Holy Grail" of trading. A system that was simple to follow and made me a lot of money. I spent a significant amount of time searching for that grail. I downloaded indicators, EA's, studied trading books from the simple to the most exotic. During my journey I become very talented in technical analysis but i found that the more i knew money wasn't coming.

I finally realized that winning in trading is not about technicalities but rather about something that only 2% of traders understand and follow. Am sure the first question that came to your mind right now is - "what is that something that only 2% of traders understand?"

The answer is - understanding how the market works!

No, I am not talking about how the market is regulated or how to calculate point value, etc. I am talking about understanding how the markets operate as a business for those that operate it.

Here are some question for you to gauge your understanding of the market. If you can answer these questions I guarantee you that you are closer to succeed in trading than you think.

1) What makes price go up or down?

2) How does price go up or down?

3) Who makes price go up or down?

4) What are the tools used to move the market?

5) What do the candle patterns mean?

6) What do the price patterns mean?

7) What is the market structure?

8) What are the two types of markets?

9) How to identify the type of market you are trading in?

10)Is it possible to forecast the market?

These question are nothing but the scratch of the surface to the type of knowledge you need to have. No indicator or EA will come close to explaining things. Any strategy that does not take into account the true nature of the market will fail 100%

So, instead of spending your time looking for the next best tool, start looking for answers to these questions then start identifying tools that will help you harness that new information. And always remember, a fool with a tool is still a fool.

To your success,

Pip

 

i enjoyed reading this..youre very on point

 

yeah...but you know mr. Pip...Holy Grail exists...

 

Pip is that you PMP? I like the indicator and I took 2 weeks trial. Do TSD members get a discount? Ha, ha, ha...

For sure HG exists. I have 2 under the stairs and 1 in fridge that it doesn't get rotten.

Cheers Hermes

 
hermes:
Pip is that you PMP? I like the indicator and I took 2 weeks trial. Do TSD members get a discount? Ha, ha, ha...

For sure HG exists. I have 2 under the stairs and 1 in fridge that it doesn't get rotten.

Cheers Hermes

Hi Hermes,

Yes, I am the developer of Price Master Pro(TM). Thanks for trying out the indicator.

Cheers,

Pip

 
santis:
i enjoyed reading this..youre very on point

Hi Santis,

Glad you found it beneficial. Let me know if you have any questions.

Regards,

Pip

 

I decided to open a thread about Martingale Money Management..But i changed my mind when i saw this thread..Beacuse I think under this thread we can go a lot deeper i know it from op's other posts from FFT cycles thread...He knows and tells too much which i could not understand the whole just because lack of my enligsh and math and physics but i can sense ..Anyway I want to give my answers to those questions..

1) What makes price go up or down?

Simply unbalance of supply and demand

2) How does price go up or down?

Simply the suppliers and demanders change their behaviours between eachother..

3) Who makes price go up or down?

Banks,instutional traders,retail traders i mean everyone which use money to trade either for commodity or money itself..

4) What are the tools used to move the market?

I may not understand this question but I think you mean big moves which change market condition dramatically which are politics,economic sanctions,wars

5) What do the candle patterns mean?

It is reflection of those players behaviours on chart..I mean markets state' picture maybe i should call drawing..

6) What do the price patterns mean?

Same above answer for this question..Looking same drawing from sligthly different angle..I think this kind of approach is wrong beacuse it confuses traders mind...I think you can use only one of these i mean price pattern or candle stick for make a decision..I mean if you see descending triangle price pattern just zoom out chart for example if you see descending triangle price pattern H1 zoom out to D1 you will see tweezer top candle stick pattern...By the way they are also reflactions in each other i mean if you see engulfish candlestick pattern just zoom out guess what?It is a pin bar...I can t say that they are useless but basics are enough on the other hand they adresses an important factor that we should trade with bigger time frame trend which is natural win rate and risk reward booster...

7) What is the market structure?

I think i don t understand this question..

8) What are the two types of markets?

It is a trap question i guess..For me i think theoritcally there are no 2 types of market..Only one which is trend.Only if you can zoom in enough..But pratically we can t zoom in enough we limitted with between two M's..Minute and mounth time frame..I am talking about metatrader..I don t have a chance to use other platforms but no doubt they also have limits about time frame..

9) How to identify the type of market you are trading in?

With support and resistance levels, higher high,lower low etc..Like i said before it is all about zoom in and out..

10)Is it possible to forecast the market?

Yes.If not then you should not trade it..

Hope this thread contuine..and we have some nice discousions about trading..Thnx in advance..Have plenty of pips..

 

By the way bears start to dominate Gold market again i mean long term (next weeks)..Over 250 pips down in the last day of trading week that change weekly candle stick to pin bar..also in D1 two tweezer top candlestick patterns build up a double top price pattern which is very very strong combo..Ladies and gents we are on the peak for next weeks maybe months...

 
qualm01:
I decided to open a thread about Martingale Money Management..But i changed my mind when i saw this thread..Beacuse I think under this thread we can go a lot deeper i know it from op's other posts from FFT cycles thread...He knows and tells too much which i could not understand the whole just because lack of my enligsh and math and physics but i can sense ..Anyway I want to give my answers to those questions..

1) What makes price go up or down?

Simply unbalance of supply and demand

2) How does price go up or down?

Simply the suppliers and demanders change their behaviours between eachother..

3) Who makes price go up or down?

Banks,instutional traders,retail traders i mean everyone which use money to trade either for commodity or money itself..

4) What are the tools used to move the market?

I may not understand this question but I think you mean big moves which change market condition dramatically which are politics,economic sanctions,wars

5) What do the candle patterns mean?

It is reflection of those players behaviours on chart..I mean markets state' picture maybe i should call drawing..

6) What do the price patterns mean?

Same above answer for this question..Looking same drawing from sligthly different angle..I think this kind of approach is wrong beacuse it confuses traders mind...I think you can use only one of these i mean price pattern or candle stick for make a decision..I mean if you see descending triangle price pattern just zoom out chart for example if you see descending triangle price pattern H1 zoom out to D1 you will see tweezer top candle stick pattern...By the way they are also reflactions in each other i mean if you see engulfish candlestick pattern just zoom out guess what?It is a pin bar...I can t say that they are useless but basics are enough on the other hand they adresses an important factor that we should trade with bigger time frame trend which is natural win rate and risk reward booster...

7) What is the market structure?

I think i don t understand this question..

8) What are the two types of markets?

It is a trap question i guess..For me i think theoritcally there are no 2 types of market..Only one which is trend.Only if you can zoom in enough..But pratically we can t zoom in enough we limitted with between two M's..Minute and mounth time frame..I am talking about metatrader..I don t have a chance to use other platforms but no doubt they also have limits about time frame..

9) How to identify the type of market you are trading in?

With support and resistance levels, higher high,lower low etc..Like i said before it is all about zoom in and out..

10)Is it possible to forecast the market?

Yes.If not then you should not trade it..

Hope this thread contuine..and we have some nice discousions about trading..Thnx in advance..Have plenty of pips..

Hi Q!

Nice job with your attempt to respond to the questions. Although you didn't get them all right, you are, nevertheless, on the right track.

I want to make two comments, my first comment relates to candle patterns and price patterns. These two concepts (candle and price patterns) are tools that alert us as to what the market retail traders are doing and what the institutional traders are planning. Trading the patterns themselves is a futile exercise, instead, trading their underlying premiss is the key. I will let you research what I mean exactly

My second comment is a suggested list of topics for you to research further. If you do you research you will gain a whole new perspective on the market and will find yourself becoming more successful at trading it.

  1. Supply & Demand
  2. Volume & Price Analysis
  3. Market Maker Business Model

Respectfully

Pip

 

Actually, in my opinion, "holy grail" does exist. They are pro-trader's trading system, strategies. But they will never, ever show their system to internet. Because if everyone is winner, who gonna be a loser. They want trader success on their hard work and study. So, yeah, we cannot find "grail". BTW, will keep follow your thread, Mr Pip

 

These exuberant statements are usually followed by him selling something..

What is it this time?