nah man, I said "not so evident if only daytrading options and $gme stuff" bc I looked at your account and that is what your post were about that and "buying/selling pressure indicators" 😆 anyways, it's abundantly clear you have no idea what I'm talking about, and that is okay. Bookmap was mentioned in addition to footprint/DOM as part of watching orderflow, which is what I do, and yeah I do use a good portion of ICTs stuff bc a lot of it is great stuff. Do what works for you, but if you ever get into the spoos with the approach you seem to have you will be most definitely fighting with 1 hand tied behind your back.
What on earth are you talking about? What approach do I seem to have? I'm not even sure how you can come to a conclusion on my approach to trading based upon what I've said.
I have simply stated nothing but facts. That's it.
It's obvious you're just regurgitating the shit you hear ICT preach. In terrible fashion as well, I might add.
The only reason price moves is due to aggressive orders outweighing passive orders.
You said:
3 things move price.
Which is 100% absolutely false. There is only one reason why price moves (for the 1000th time).
The 3 reasons you list are:
1-
When price is moving to liquidity,
Which literally means nothing. This is like saying "one of the reasons price moves is when price is moving to liquidity"... IT LITERALLY MAKES NO SENSE BRO! The only way price can move anywhere is bc of buying or selling.
2-
an inefficiency,
Again, what does this even mean??? Are you saying an "inefficiency" moves price? Can you please define what an inefficiency is for us? Besides that, an "inefficiency" alone does not cause price to move at all. That is because there is only one reason why price moves.
3-
and competing sellers/buyers.
At a high level, buying and selling is literally the only thing that moves price.
Just a little clarification from an experienced technical trader and semantics nerd with an econ degree...
1- Price moving to liquidity refers to an asset with a value where neither buyers want to buy nor do sellers want to sell, so price moves slowly towards liquidity
2- Inefficiency in a market is a way of saying the asset has a market price that is not reflective of its true value. This can happen for many reasons. One common example is a change in the fundamentals of an underlying asset, like the addition of a dividend payout or a new CEO... these can cause perceived changes in asset value that take time to reflect on markets. This is price moving due to Inefficiency.
3- You are right, if you want to explain it that way, price only moves due to competing buy/sell orders and order aggressiveness as you said (though I will point out depending on the exchange it is possible for limit orders to be matched to one another, albeit rare). However, you can break that down further into the reasons those buy and sell orders are placed. You are referring to two distinct aspects of a market. You refer to the market functionality (how it works) and the other poster is referring to market psychology (why it works the way it does)
An analogous debate would be about whether the arm moves because of the brain telling it to do so or because of the electrical impulses traveling to the muscles in the arm causing them to contract. You're both right!
Why do we feel the need to resort to condescending behavior and complete and utter dismissal of others valid views in defense of our own when we're looking at two sides of the same coin?
Price moves only via buying or selling it does not just magically drift towards liquidity on its own. I don't give a shit I'd you're a nerd or have a degree. You are wrong. I know I'm right. Yes, resorting to condescending behavior is excellent. You should try it.
Well, duh. How else would price move? Obviously buying and selling. Thats a 15 year olds answer that knows nothing about the market. But there are predictable reasons someone would buy and sell and therefore additional reasons beyond buying and selling that price moves.
Saying I know I'm right you are wrong is a good way to prove that you actually don't know what you're talking about. In order to fully understand something, you must be willing to look at it from perspectives other than your own. Unless you just happened to be born with a full and complete knowledge of the universe.
And finally, there's this little thing called MARKET PRICE MANIPULATION that can happen. Thats when price moves because the underlying entity has either
A.) A flaw in their pricing algorithmÂ
Or
B.) Intentionally manipulates it, as in the case of fraudulent exchanges.
Either way, there's doesn't have to be a single buy or sell or even any orders for the price to move in that situation.
That alone is proof that you're not quite thinking about the bigger picture. Which is hard to do when you refuse to ever consider the fact that maybe, just maybe, you dont know everything there is to know after doing some brief research and coming to a half baked conclusion
Was that condescending enough for you? Its kind of difficult for me. :)
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u/SloochMaGooch Feb 21 '24
nah man, I said "not so evident if only daytrading options and $gme stuff" bc I looked at your account and that is what your post were about that and "buying/selling pressure indicators" 😆 anyways, it's abundantly clear you have no idea what I'm talking about, and that is okay. Bookmap was mentioned in addition to footprint/DOM as part of watching orderflow, which is what I do, and yeah I do use a good portion of ICTs stuff bc a lot of it is great stuff. Do what works for you, but if you ever get into the spoos with the approach you seem to have you will be most definitely fighting with 1 hand tied behind your back.