1 trade per pair per year 6 replies
multiple systems per pair/multiple pairs per system? 3 replies
Extracted Post (per poster's request) 0 replies
Trading 24 hours per day, 5 days per week 14 replies
DislikedHi Rocky!
I've studied your charts and will study again so i post a previous chart of you and i draw a blue box.
In this blue box, why we can't say that the supply has exceeds demands here so why don't we waiting for a touch for selling???(because the graphs show the PA goes up when he meet this zone)Ignored
DislikedHi Forethan, Not sure I understand your question? That is a Demand Zone not a Supply Zone. So at Candle #1, we see Demand exceeds Supply, price skyrockets up. Candle #1 has now created the Demand Zone. We see that when price returned to the Demand zone at Candle #2, it takes off upwards again. Now this does not mean it's a good Trade. It has to meet my stricked rules I have outline here for all to see. Hope this Helps, Good Luck.Ignored
DislikedRocky,
Would you say this looks like a good place to go short? Candle breaks the Bollinger Band and it is also the 618 Fib Extension. Let me know your thoughts. Thanks in advance. Also, this is my first time posting a chart so I hope it works.Ignored
DislikedAttachment
Stopped out at break even on my live account. Ill let Demo continue.
Stopped out on Demo.Ignored
DislikedI was stopped out as well Rocky. Why is it that it seems like my Stop Loss gets hit and then it shoots straight up where I thought it would go? It is the most frustrating thing to me. This is why most people fail at this I think. Is there really such thing as stop loss hunts from the institutions and banks? I am starting to think there is.Ignored
DislikedThere absolutely is Stop hunting in the Spot Forex, That's why I trade the Forex Futures with my Live account. It's regulated and you wont see those spikes that you see in the Spot Foex. If you noticed on my GBP/USD chart, my first entry was right on the money, to the very pip, outside the Bollinger Band at 1.6260, because of the chart study I know 48 hours in advance that that was a good price. It then ran up over 90 Pips. By doing this you stack the odds in your favor.
[color=blue]The mistake I made on my second entry was...Ignored
DislikedRocky,
Am I nuts to think I can trade forex to make a living on a full-time basis? Would you advise me to look into futures instead of the spot market? If so, how do I go about doing this? I've been trading the spot market for about 8 months now and I have lost a ton of money. Can I trade futures with Alpari or do I need to go to another broker to do that? Sorry for all the questions, but I don't really know where to turn next. Thanks for the time Rocky. You've been dynamite.Ignored
DislikedHi Rocky,
Just discovered your thread. I follow Price Action and use fibs as well but I like the confluence with supply/demand idea. Are you using BBs for another confluence based on standard deviations?
LouIgnored