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Fozzy Chat Room 7 replies

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Price is Everything Chat Room

Quoting Ifmyante
Where would be a good place to look for a swing on platinum, and why?
Hi If,
I don't have platinum chart and this is not really an answer to your question, but would area 1600 BRN be a good spot for swing? If no, why not? (pls bear with my Whys, noob trying to learn here ) It has painted long lower wicks in last few times when it visited that BRN. What is the story behind using supply/ demand explanation?
Quoting MozarTT
See pic.
It's really important you read all the stuff on offer in all the threads about S/D and look from higher TF into lower TF before asking questions like this.
If you bought here you lost and (from my perspective) it's important you learn why rather than have someone tell you, although i'm sure some kind soul will.

i'll give you a clue.... look left.
Helllo,

I got maybe stupid question. I was watching kennyz trades and notice something strange. Kenny's H1 candle has different OHLC levels then mine. I have account in alpari, see attch. Can somebody tell me why it is like that and in this case (differences) how to play PA when everybody see different levels ;( ?
Attached Images (click to enlarge)
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Quoting Rosa
Helllo,

I got maybe stupid question. I was watching kennyz trades and notice something strange. Kenny's H1 candle has different OHLC levels then mine. I have account in alpari, see attch. Can somebody tell me why it is like that and in this case (differences) how to play PA when everybody see different levels ;( ?
Not sure which candle you a referring to, generally speaking you should trade what you see on your chart.

One reason the OHLC levels could be different is that your computer clock is running behind or ahead. Obviously there can be a difference in price depending on your data provider, but I wouldn't expect that to be more than a couple of pips.
I open demo account on fxpro now and see that on this one candle (2012.03.30 17:00) I have low levels:

alpari : 0,81883
fxxpro : 0,81894

so there is 1,1 pip between them.
Quoting Rosa
Helllo,

I got maybe stupid question. I was watching kennyz trades and notice something strange. Kenny's H1 candle has different OHLC levels then mine. I have account in alpari, see attch. Can somebody tell me why it is like that and in this case (differences) how to play PA when everybody see different levels ;( ?
this question has been dealt with in probably every thread on FF. Could be broker close times, could be clock, could be this could be that. I use broker which shows NY close candles/bars. Most people use that i think.
Search around, i reckon you'll get lots of things to try out
Sorry for offtopic, but which broker to choose ? I am from Poland . Best, Rosa
Quoting Rosa
Helllo,

I got maybe stupid question. I was watching kennyz trades and notice something strange. Kenny's H1 candle has different OHLC levels then mine. I have account in alpari, see attch. Can somebody tell me why it is like that and in this case (differences) how to play PA when everybody see different levels ;( ?
i believe ken's broker feed is gmt+2. i am with alpari uk and my feed is gmt+1.. so i see slightly different ps/pa too. i think this affects the 1-4h tf candles.


Quoting Rosa
Sorry for offtopic, but which broker to choose ? I am from Poland . Best, Rosa
stick with whatever broker you prefer. fxpro and alpari are good enough.
Quoting Fx7877
Hi all,
My 1st demo trade based on SS/DD zone. Still in the works, not sure if it will work out.

What I like abt setup:
Fresh zone, price left the SS zone very hard & fast previously and now entering the zone very hard as well, been away for sometime, PA confirmation

IF and other seniors, pls comment what I have done right or wrong in this setup. Thanks alot!

Question:
Should my target be based on previous ss/dd zones (orange circle where low of recent WRB is) or obvious support/resistance area? (Where I indicated Tp1 & Tp2)...
Hi m8,

Cant quite make out the levels you're setting but it looks like too modest a TG for me to bother with AND there appears to be the origin of the supply zone a little to the left on your chart, therefore this level has been used once already.
Have you seen the thing which Ken/If or one of these guys uploaded about quantifying your zones? let me know and i can upload. You want to use zones which score really highly and one way to ensure high score (probability) is if not previously visited.
Quoting Rosa
Sorry for offtopic, but which broker to choose ? I am from Poland . Best, Rosa
Not sure about your case really. I use fxpro, alpari and forex.com (high spreads) but i'm in UK.
Having been a purely higher TF trader up until now spread wasn't much of an issue to me but i'm noticing it a lot more now i'm playing with the fire of m5 etc! good luck
Pls see chart....
Attached Image (click to enlarge)
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Quoting beebolbod
Pls see chart....
Attachment 935488
Just a note on that
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Quoting Ifmyante
Just a note on that
thanks.
Quoting beebolbod
It's really important you read all the stuff on offer in all the threads about S/D and look from higher TF into lower TF before asking questions like this.
If you bought here you lost and (from my perspective) it's important you learn why rather than have someone tell you, although i'm sure some kind soul will.

i'll give you a clue.... look left.
The fact that the i looked left and on HTF before entering trade and decide to open. And now i see that this was a mistake. But i can't undestand why? So i decide to ask those, who can explain this. If i undestand correctly this thread is for learning, where guys like me can ask some questions to more advanced users like you. I'm wrong?

P.S. My thoughts on screen
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Quoting MozarTT
The fact that the i looked left and on HTF before entering trade and decide to open. And now i see that this was a mistake. But i can't undestand why? So i decide to ask those, who can explain this. If i undestand correctly this thread is for learning, where guys like me can ask some questions to more advanced users like you. I'm wrong?

P.S. My thoughts on screen
I'll gladly take a look at it sometime today
Quoting MozarTT
The fact that the i looked left and on HTF before entering trade and decide to open. And now i see that this was a mistake. But i can't undestand why? So i decide to ask those, who can explain this. If i undestand correctly this thread is for learning, where guys like me can ask some questions to more advanced users like you. I'm wrong?

P.S. My thoughts on screen
Fair enough. Sorry for seeming brusque - i'm very much a learner here too.

i'll add my perspective in a moment...
Quoting beebolbod
Fair enough. Sorry for seeming brusque - i'm very much a learner here too.

i'll add my perspective in a moment...
I know If will enlighten us properly but i enjoy posting this stuff as i learn it...

To my eyes we didn't have clear fresh D zone as in previous bounces of this downtrend. If you look left, each bounce of the current downtrend is generated by a zone on the uptrend. H4 shows this best.

If the zone looked good then we need to look for good price action within this zone before acting (EDIT:-you can set limit orders if you're confident of the levels too). I drop a few TF to see what's going on there.

Attached Image (click to enlarge)
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Attached Image (click to enlarge)
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Once again, apologies for being a bit harsh, i hadn't read your post properly.
Quoting beebolbod
I know If will enlighten us properly but i enjoy posting this stuff as i learn it...

To my eyes we didn't have clear fresh D zone as in previous bounces of this downtrend. If you look left, each bounce of the current downtrend is generated by a zone on the uptrend. H4 shows this best.

If the zone looked good then we need to look for good price action within this zone before acting. I drop a few TF to see what's going on there.

Attachment 935572

Attachment 935573

Once again, apologies for being a bit harsh, i hadn't...
That's all right! Will learn together! Thanks for explanation!
P.S. I'm still learning how to enter in position and experiment with this. In current case i enter without confirmation when price just touch the zone, and when it go lower, buy once again and close it for some pips.
Quoting MozarTT
That's all right! Will learn together! Thanks for explanation!
P.S. I'm still learning how to enter in position and experiment with this. In current case i enter without confirmation when price just touch the zone, and when it go lower, buy once again and close it for some pips.
I think that's perfectly valid providing you get the levels right and the R:R from these entries is worth it.

Lots of reading, experimenting and time in front of PC will help you no end
Quoting beebolbod
Lots of reading, experimenting and time in front of PC will help you no end
your right, the more effort and time you put into it, the more you get out of it. just like anything else in life.

we may look like zombies in front of our computers and some may say we are wasting our lives staring at the screens all day. well, when a trader becomes consistent and very 'fine tuned' in their trading they will experience a life of independence and freedom in which they can live deliberately. a trader can then live a lifestyle which they see fit.

a friend of a friend trades only a few hours a day and make a killing.. then spend the rest of the day enjoying themselves.

..beats having a day job.
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