Do you look for setups across markets or do you look at a market for setups ?
That's not what I'm saying, what I'm saying is that no setup will last for ever, because it will eventually be picked up on by enough market participants that it will no longer work.
On the other hand, most markets are here to stay for a while, and if one setup stops working then you can always find another![]()
Yes so as the setups become more popular, the proffesionals take advantage of them to the point where they no longer work. So do you still use a 'setup' and just change it when it stops working or do you do something different? Basically I'm asking how traders at trading firms trade in dummies terms!
Do you look for setups across markets or do you look at a market for setups ?
I wasn't being pedantic, I answer based on what I honestly believed your question was.
It's pretty odd you're blaming me for not understanding it.
Maybe, first of all, we should agree wtf is a "setup". Everyone of us seem to have a different concept.
That's why cr6196 said that follow the book is a setup. It's not, from my personal point of view. Or personality traits like heavy volume at certain times, or strong reactions to news.
I don't call it 'setups'. But i could be perfectly wrong.
Shall we define what is a setup? :smart:
So basically you make it up as you go alongHow do you identify liquidity? Volume? And by events do you mean like news and fundamentals? Thanks for answering
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For Fuch's sake, stop over analyzing things. Honestly, I work with computer programmers most of the time but I have yet to encounter the level of nerdishness that exists on this forum.
Should we define what 'define' means whilst we are there ?
Let me define it once more for the people who are looking at woods but seeing trees.
Option 1
Method, approach, methodolody, setup, technique
Option 2
Instrument, stock, forex pair, market, future, commodity
nerdishness
Correct me if I am wrong but the question is - do you look for a particular setup accross multiple instruments, or do you have particular instruments that you study, learn their behaviour then apply numerous setups? There is no mention of whether the setups will work forever or whether they even work at all...
Now I'm really confused. It looks like you are asking what I originally thought you were asking![]()
- Trading one stock/futures market/forex only, getting to know it like the back of your hand and then trading that market only
- Trading one setup but across multiple markets - trading any symbol but only that one setup
Pete
Let's not narrow down 'method' to meaning a single set of entry criteria.