9:52 pm 1/2/2024

romeo's 6hr+ chat

The foundation
1. What are the markets? A money losing machine
2. The 8-trade losing streak...everybody experiences this
3. Technical edge or risk-reward, which is more important? Technical edge is
irrelevant, it's like flipping a coin, it is profitable over a large enough sample
size. on the other hand, without good risk management, youll blow your account 100%
of the time.
Even with an enigma, you don't control price; you control your risk.
4. Journal...as a doctor would for a patient, we journal every single trade in
order to eliminate mistakes, bad trades and to correct them. Every problem has a
solution
For every single trade, write down
-the asset class
-the before (the premise, and expectation)
-the after (what happend, when, where, how) win and lose

Market efficiency paradigm; smart vs dumb money

smart money are the market makers who have always owned the matket manually and now
do with the algorithm. Dumb money includes the rest of the market participants;
hedge funds, institutions, small speculators e.t.c

how to measure high and low

1. IPDA ranges;3-20-40-60 day ranges from the current day. do it on the daily
chart. Number of bars is not equal to number of days. below the 20 day low, we buy
and vice-versa
2. Dealing fibonacc

After seeing a market structure shift on the daily, you can then check on the
weekly timeframe to see if the directions align. A lower timeframe market shift is
irrelevant in front of a higher timeframe pd array