First post newbie here.
Ive recently discovered the Supply & Demand strategy. I really love it as it doesnt focus on loads of indicators, its purely price action and, it just makes a lot more sense to me.
But as Im new, Im trying to find supply and demand zones. I dont go for the obvious pivot highs and pivot lows, I follow the odds enhancer checklist created by Sam Seiden and I think, Ive found some good S&D zones.
Two of my first zones worked out and hit my target profit. Then the next three didnt work out and I got stopped out. The one after that, I got stopped out just before the rise in price, so maybe if I had my SL a little lower I may have ended up with a successful trade.
But I have a few questions especially for the OP @Hoffi4201 -
1. How many zones on average do you find a week / day? As Im going through my charts, seeking out zones, I find that there arent that many?
2. Im focusing on the 1H 30m 15m 10m 5m timeframes to find fresh zones. I think you said you work on the 1D and 1H? What would you guys recommend to trade off and find your zones?
3. How do you analyse a bad trade? Say you found a zone you take it, and for whatever reason you get stopped out. How do you go back and say Ok, so what happened here and how can I fix it or at least be aware of that so I can try to avoid what I did wrong next time.
Any advice, feedback would be really helpful!
Thanks, I'm loving this thread, very insightful.
Ive recently discovered the Supply & Demand strategy. I really love it as it doesnt focus on loads of indicators, its purely price action and, it just makes a lot more sense to me.
But as Im new, Im trying to find supply and demand zones. I dont go for the obvious pivot highs and pivot lows, I follow the odds enhancer checklist created by Sam Seiden and I think, Ive found some good S&D zones.
Two of my first zones worked out and hit my target profit. Then the next three didnt work out and I got stopped out. The one after that, I got stopped out just before the rise in price, so maybe if I had my SL a little lower I may have ended up with a successful trade.
But I have a few questions especially for the OP @Hoffi4201 -
1. How many zones on average do you find a week / day? As Im going through my charts, seeking out zones, I find that there arent that many?
2. Im focusing on the 1H 30m 15m 10m 5m timeframes to find fresh zones. I think you said you work on the 1D and 1H? What would you guys recommend to trade off and find your zones?
3. How do you analyse a bad trade? Say you found a zone you take it, and for whatever reason you get stopped out. How do you go back and say Ok, so what happened here and how can I fix it or at least be aware of that so I can try to avoid what I did wrong next time.
Any advice, feedback would be really helpful!
Thanks, I'm loving this thread, very insightful.