Set it and forget it!
Last updated: 24th October 2017
Follow me on Twitter, YouTube, Instagram, TradingView, Facebook, StockTwits and Google Plus. You can get started by reading this supply and demand thread and also watching some of the playlists available on my YouTube channel
Trading the forex markets is not a 100 meters hurdles race with hurdles every 10 meters, but a marathon race with hurdles every 100 meters.
DOWNLOAD FREE SUPPLY AND DEMAND IMBALANCES eBOOK
I've created a short eBook with the basic rules on how to trade supply and demand imbalances. This book contains the basic rules discussed in this thread's thousands of posts. You must understand these rules before you can start putting the pieces of the puzzle together. The book alone is useless, it contains links to videos and webinars you should watch. You should also read the posts in this thread. There is much more to this eBook, it will get you started on supply and demand and from there you can decide if supply and demand is the way you would like trade and learn further by focusing on the imbalances alone.
The book shows the rules in a more organized way, but remember you must do your homework by watching the videos and reading the posts in this thread, this doesn't work like the Matrix movie, there is no cable you can plug in your neck and learn how to trade, there are no shortcuts.
DOWNLOAD SUPPLY AND DEMAND eBOOK HERE
Once you've downloaded the video this is the homework you need to do if you want to understand how these supply and demand levels are created and why they hold.
HOMEWORK YOU NEED TO DO:
- Subscribe to the weekly analysis commentaries (blog). Every week you will receive on your email a series on potential trade setups based exclusively on supply and demand, Forex, Stocks, Indexes and Commodities.
- Read the posts here in this Forex Factory thread
- Watch the free basic videos and webinars on supply and demand on my YouTube channel. Subscribe to the channel to be notified of new videos.
- Download the free indicators and templates for Metatrader 4
A FEW RULES YOU NEED TO FOLLOW IN THIS THREAD
- This thread deals with basic supply and demand rules, there are more advanced setups but they won't be posted in this thread since we only deal with basic rules to help you understand supply and demand
- No indicators are allowed on the charts, no CCI, no Bollinger Bands or EMA crosses, you name it...none are allowed, only those in the basic template
- Timeframes lower than H4 are not allowed. You can't post timeframes like H1, M30 or lower, only H4, D1, weekly, monthly and higher are allowed
- No reference to other strategies are allowed. This thread deals with supply and demand imbalances, nothing else
- No links to external sites or videos are allowed
- No advertisements
- No offensive posts dishonouring administrator, its work and those of the subscribers of this thread. If you are the typical person that writes his first posts dishonouring the work being doing without even reading this first post, you will be ignored and banned from this thread
If you break any of these simple rules, your user will be ignored, no questions asked.
TOP DOWN ANALYSIS AND POTENTIAL SETUPS POSTED IN THIS THREAD
- The potential trade setups in this thread require a top down analysis of at least three timeframes, a trading decision cannot be made based solely on a single timeframe
- You must know what an imbalance is and put them into context in a bigger picture trend using at least three timeframes. An analysis done on EURUSD on the daily chart is not enough if you don't put that timeframe and its imbalances into context. Price will continue to move in either direction, you must redo the top analysis and be aware that the circumstances might have changed, an opposing higher timeframe imbalance might be in control and invalidate the lower timeframe imbalance entry. For instance, a Daily demand zone will be invalidated in a fresh weekly level has been reached. Please, make sure you practice the backtest the basic rules over a long period of time (at least 6 months) before you start paper trading, and then at least 6-9 more months paper trading before you start trading a small live account.
DOWNLOAD SUPPLY AND DEMAND INDICATORS + TEMPLATE
If you want to have the latest supply and demand rectangle extender indicator's version and the default templates, please fill out the form on the right side of the page. You will receive and email at end of the process with the download link. Make sure you watch the videos on how the indicators work.
DOWNLOAD INDICATORS HERE
FREE LIVE SUPPLY AND DEMAND WEBINARS
If you are interested in attending a free live webinar, please fill out this form: JOIN WEBINARS HERE
Webinars are held once every 1-2 months weeks depending on my availability and where in the world I am.
Those who have been following my thread know how hard I've worked to try and help you all. It all started like a simple trade journal, but out of the blue in less than 4 months it became something very different to what I had initially created it for. The thread had grown to such an extent that I could have never imagined.
This thread is not a trading journal any more; it’s a meeting point to help traders understand how supply and demand works, helping them to understand the forces that govern both the markets and our lives.
I'm really glad that so many of you are interested in understanding how the market works. However the fact is that the thread had started to absorb my life, my spare time, it took me a lot of time to manage not only the thread but replying to dozens of daily private emails that hit my inbox. The number of emails I was receiving in the was increasing and I couldn't cope with it.
Life is karma, life is a boomerang. Whatever you do in life, it will be returned to you 10 times bigger. This thread is changing my life in many ways, hopefully it will change many others as well, the emails I receive every day go in that direction as well.
I am very happy and proud to have received such a huge welcome and all the private messages I get every day speak by themselves. I will not refer to any of them; those who have written to me will know what I am talking about. I've had to take an important decision if I want to keep on helping you and other traders. I was asked by some members to create a private area, I believed it was the best decision to take, both to help others in a more organized way (FF is great but it has far too many limitations) as well as allowing me to get my spare time back while keeping intact my passion for helping others.
Other things have happened that have forced me to take this decision. Many won't like this idea, some will hate me (I don't know why since I did nothing to them) others will like it. I can't make everybody happy, I do not lose any sleep over it, this is how life works, I won't try to change such a primitive instinct.
What I am trying to do now is creating a community of supply and demand traders that trade by the same set of rules, preventing trader's minds from being clouded with different and/or similar approaches to the markets. The community is a subscription-based forum where any serious trader is welcome if his attitude is humble and open-minded. If you are patient and willing to learn then you will be welcome. The subscription is a filter, a free community would be just impossible to support.
Trading is all about putting your emotions aside to prevent them from affecting your trading decisions. This is what the private area is about, setting and forgetting.
As many of you know, I'm also a photographer, it's one of my biggest passions. I've created a new Instagram account for those who would like to see what I do, I am mostly shooting timelapse photography from the places I travel around the world, and now aerial photography. If you would like to know what I do, please follow me at https://www.instagram.com/letstimelapse/
If the idea appeals to you and you are serious enough, you will be welcome at: www.set-and-forget.com
Email is the best way to reach me for a fast reply. Contact me here
I will always do my best to give free support on this thread, but bear with me, put yourself on my shoes.
WHAT'S THE DIFFERENCE BETWEEN THIS THREAD AND THE PRIVATE COMMUNITY?
The difference is huge. This thread is only dealing with basic supply and demand ideas and concepts, the community deals with more advanced top down analysis, it is better organised with different channels and categories for almost any asset, Forex, Stocks, Commodities, Indexes, Energy and Metals, etc, as well as undivided support to the serious trader who is learning the rules given on this thread for free but still need confirmation & time to learn from fellow traders all following the same strategy and rules without having their understanding clouded by different approaches.
Watch this 10 minutes to learn about the community. We post trades before the fact, that is, they are planned way before they happen.
Take a look at these live trade setups on CADJPY & NIKKEI INDEX DAILY LONGS:
The following 15 minutes shows how explain two of the latest Daily long setups we took at the supply and demand community based on the rules laid out in this supply and demand thread. One of the trades, CADJPY D1 long was shown quickly in the last webinars, we didn't go through it because we were going through the realignment rules, but I held that one and it was a really nice runner.
This video shows how all pieces of the puzzle fitting together to provide high odds entries based on the rules set most of you are mindful of by now.
This video shows the Set and Forget supply and demand community, how these trades are proposed way before they happen and explained in detail. In one of them, CADJPY D1 long, the member that spotted it did not take it in the end because he "thought too much" and added a new rule that is not part of the existing set of rules. Myself and others took it, so we got a nice winner, unfortunately he did not, but he learnt the lesson.
- Monthly and Weekly areas of demand in control, what to do? Go long. Shorts forbidden
- Trades were posted before the fact, that is, way before the trades happened and explained in more or less detailed and discussed if there are doubts
- Trades are posted by myself and other members as you will see in the video
- The community is not a signal service, we all want to learn how to fish and not be fed with fishes
- We all help each other discussing the nuances of the supply and demand rules and price action that will help us locate high odds trades. Many of them will be losses, but who cares? Probabilities work like that
- Others help by helping to code new functions and tools, some with other skills, it's what a community is all about
If you are making consistent money then there is no reason to join. But if you see the potential to make money trading but for some reason still can't make money trading then there are other issues at work like trading plan, emotions, a fix set of rules, other traders supporting you, etc. This is where you can get your questions addressed fully & the support from all within the community, it's like a family. This thread has taken me so much of my spare time that there is no choice but to do it this way. No one is forcing anyone to join. We are just like minded traders filtered into a serious forum analysing the same way. The support is there to keep you on track.
The free info is right below on Forex Factory, there is all you need to know about to learn the basic rules on how to trade supply and demand levels and imbalances. Read it and apply it. Simple.
FORWARD TESTING THE SUPPLY AND DEMAND RULES IN THIS POST IS KEY
Back testing on Metatrader 4 or any other software that already shows you the next candles is mostly useless, forward testing is the way to go. You can use Forex Tester 2 software to do it, it's the best testing software out there in my opinion. Once you have tested these rules or any other rules for MONTHS (not months of data, but months of work on your side), ONLY THEN you will gain confidence trading these rules or any other strategy you decide to trade.
It's just impossible to organize each lesson and topic in a single vertical thread like FF does, just impossible. I can't create a FAQ because there are so so many things to cover that it would be a daunting task I have no time for. This is why you have to take your time and forward test these rules or any other strategy's rules you want to trade with, with a software like Forex Tester 2 for 3-4 months, a couple of hours a day using Forex Tester 2 will give you all you need to know, but most traders don't want to forward test, they consider it a waste of time. They do not realize that it's the most powerful tool they have at hand to feel confident about any trading rules and eventually becoming full time profitable traders. Traders feel the urge to trade without the confidence of months of forward testing, what is the result 99.99% of the time? Blown up accounts!
You have to do your homework, nobody can do it for you except yourself. Take your time and forward test, you will see many things that you can't see now. If you are not willing to spend some months forward testing the ideas on this thread or any other strategy, then you should not be thinking of becoming a trader, you will mostly likely have the same doubts and gaps always.
What will happen after let's say a week of forward testing the rules?
There are only 2 possible outcomes:
- You maybe find that the rules work pretty well and you are getting a nice % success ratio and you will STOP forward testing. MISTAKE. A week of forward testing is NOTHING, if you stop so soon you are not getting the point. If you ever started to study a career at the University, did you stop studying and making exercises after you read the first book? You didn't you spent a minimum of 5 years studying, and even after 5 years of university you finished the career and you know NOTHING, because you have no practical experience. Life is like that
- You will see no progress and believe that the rules do not work and will skip this thread and go to another one. This could probably happen, but it will happen to you on any strategy. You have to believe in the logic of the rules and the nature of the markets and supply, because supply and demand governs the markets and our world. Take your time, spend some months forward testing, ask your doubts, don't despair!
I am always encouraging you to forward test any Forex trading rules because in my humble opinion it's the only way to gain confidence and become consistent trading any rules set, be it supply and demand, EMA crosses, Fibonacci, you name it. It's just the way it's, do not believe what I say or do or what anybody else say or do, do it yourself. Step into the "believe stage" of your trading and get the most out of your marriage with the rules you will be embracing, it's the only way. Your thoughts are physical, but you need to work very very hard to make them become real.
The following video shows you how I look at supply and demand in a more detailed way, candle by candle, you'll hear me describing price action in detail.
The only thing we have to prevent us from blowing up our accounts is:
- Our rules and trading plan
- Our Stop Loss Remember these rules can be extrapolated to other timeframe combinations
I am personally focused on swing and position trading for my entries for one single reason, it's not just trading but a way of life. Most of us want to have a life other than being in front of a computer screen all day long, H4 and D1 levels help you achieve that purpose as well as helping you to become patient. It will be worth 1 million times.
YOUTUBE VIDEOS ON SUPPLY AND DEMAND
- You can view the videos at my YouTube channel: http://www.youtube.com/user/supplyanddemandforex
- Subscribe to my YouTube channel if you want to be automatically notified of new videos being posted
I've created my own templates and a very important and useful Metatrader indicator to draw my rectangles and extend them to current price, as well as calculating the number of pips in the rectangle, it will also draw trendlines automatically on the higher timeframes's D1 and WK supply and demand areas so that you can see where you are in the curve when you are on the lower timeframes.
You will be able to download all Metatrader indicators and the template that I use. I will be using the same template always for all my posts here, which is the way I trade. I'd like that if you post any charts, you do it based on this template and indicators I've attached, by using the simple methodology explained below. Why the same template? If we all do it the same way, then we all can help each other, because we'll be basing our decisions on the same methodology. Having different charts with different colours and indicators, dozens of lines painted all over the charts making it crowded, will not allow all of us to see price action as explained in the thread.
DislikedI am not an OTA graduate, never took a course with them. All I've learnt has been taken from the Internet for free, many forums, available free videos by Sam Seiden and other supply and demands sources on Internet, as well as a LOT of common sense and logic. Anybody who puts a lot of hard work can possibly achieve that too, not just me. I've just taken the time to compile my own ideas, work hard back-testing and forward testing the markets. I've written my own indicators, my own trading plan and my own rules (many of them are common-sense, I didn't invent the wheel), and shared it with other traders, nothing else, that simple. I must say that I've been able to achieve this thanks to Sam Seiden's OTA free videos and other teachings available on the net, as well as other Supply and Demand traders out there on several forums. Without it, I would not have been able to accomplish this. Supply and demand is the law that governs the markets.
The verbiage and sentences used throughout the forum may sound familiar to you if you have taken education with any of the supply and demand educational companies, there is no use to use different terminology, a fresh level is a fresh level, a rally and a drop is a drop, fresh and original, the curve, the altitude, the range, overbought, oversold. I did not invent those terms, they are just commonly used by many educators and supply and demand traders.
I will be posting some of my trades, good and bad ones on this thread. I will describe my rationale for my entries and for my exits. Hopefully others will be helped with my thread, which is one of the 2 only reasons I'm writing it. The 1st one is to help others, the 2nd one is to help me become more consistent by thinking out loud in the form of a thread, this will help me become even more consistent following my own set of rules.
Remember this VERY important thing: the more indicators you use on your charts, the more rules you will have to add to your trading plan. Adding an indicator means you will have to add rules when to use it and when not to use it, how it will help you make a decision, when it will filter out a bad or a good trade, etc. If you add too many indicators, you will be flooded with variables and decisions in your trading plan. You will be paralysed and you won't be able to pull the trigger.
IT'S NOT OVER UNTIL I WIN
This is what I believe and I am willing to die for it.
No matter how bad it is or how bad it gets, I am going to make it! This is what we should be saying to ourselves day after day when we are sitting in from of our trading stations.
Some of you right now, you want to go to the next level... in our case, becoming a successful trader... You can't get to that level economically where you want to be until you start investing in your mind, invest in yourself.
Watch these 6 minutes motivational video by Eric Thomas and Will Smith, watch them every day if you will, this is what we need to think about ourselves to become successful at any task
DOWNLOAD FREE SUPPLY AND DEMAND IMBALANCES eBOOK
I've created a short eBook with the basic rules on how to trade supply and demand imbalances. This book contains the rules discussed in this thread's thousands of posts. You must understand these rules before you can start putting the pieces of the puzzle together. The book alone is useless, it contains links to videos and webinars you should watch. You should also read the posts in this thread.
DOWNLOAD eBOOK HERE
Any Advice or information on this thread posted by the administrator and the subscribers is general advice only - It does not take into account your personal circumstances, please do not trade or invest based solely on this information. By viewing any material or using the information within this thread you agree that this is general education material and you will not hold any person or entity responsible for loss or damages resulting from the content or general advice provided here by the administrator and its fellow members. Futures, options, and spot currency and stocks trading have large potential rewards, but also large potential risk. You must be aware of the risks and be willing to accept them in order to invest in the Forex and futures markets. Don't trade with money you can't afford to lose. This thread is neither a solicitation nor an offer to Buy/Sell spot Forex, CFDs, stocks, options or other financial products. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed in any material on this website. The past performance of any trading system or methodology is not necessarily indicative of future results.