C-12's Supply, Demand and PA thread

UCAD continue Long M1 ....

UJ H1 ....

UJ M1

You've got a full lot on here, I'd be happy to bank 50% and let the rest run. It looks like heading lower to me but you really have to bank something when you've exceeded a 3:1 RR.

On the other hand, daily looks very good and H4 has engulfed south today.

Some great trades here by the way.

Looks like a nice pullback into H4 demand on the daily uptrend. I think it's a good trade. RR is good.

Although I'm not the greatest at these continuation entries with swings as I'm often wary of a deeper retract turning into fresh supply and the stops are wider than the tops and bottoms.

Out at BE on that one. I noticed last night there is strong inverse correlation between SP500 and EURCAD and SP500 was hitting fresh daily D so dodged a bullet on that one. Trying to think why those two are strongly correlated but not got my head around it. Anyone know?

breakout pull back

Nice trade Marc ...

GU M1 Trade ...

GU looking like it will go much lower but here's a cheeky little engulf taken out for the weekend.

Just thought I'd write down a few things (since I can use this thread as a bit of a personal journal).

I'm planning to stick £1000 back into my live scalp account in September so I opened up a fresh 1k demo last Sunday night. I wanted to get back to building an account with discipline after a long random practice period.

I'm not looking to triple or quadruple in a week. I still have some psychological damage from almost blowing up a 10k live account back in 2013 that I need to resolve.

My trading style is always going to have a low win rate since I go in with very tight stops so lots of small losses can accumulate.

Anyway, weekly target was 10% (2% per day) trading with minimal risk (0.02 and 0.01 lots per entry - SL's around 10 -15 pips) trading EU and GU with occasional AU if setups are clean.

Here's how it ended up...

Positives

1) Exceeded weekly target and reached 15%
2) Mostly traded with trend.
3) Traded excellent when trading the 8am to 10am session when the market was liquid.
4) My best trades were based off clear M30/M15 zones (or PA) with M5 solely for viewing the finer detail.

Negatives (yet again, poor discipline. still there...)

1) Took losses due to trading at work using my phone.
2) Took hits trading the dead session (late NY into pre Asia) for no reason.
3) Took a few losses trading weak M5 zones in the middle of the range.
4) Didn't always let trades run to target or at least 2:1 (no need to take profits after 5 pips when SL is 10 pips!)
5) Let my account get 3% into draw-down.
6) Too many break even trades and small losses that should have had stops left behind M15/ M30 zones.
7) GU and EU daily trend was obviously down. Should have capitalised more on the trend.
8) Too many entries.. 40 per day is excessive.

Here's the result for the week. The curve looks a bit like Bart Simpson's haircut so will see if I can address the above negatives next week.

Talking about live accounts, can anyone recommend a decent ECN broker, ideally with UK based servers and GBP denominated accounts with simple free withdrawals?

I used LMAX previously but didn't like their feed. I can remember insane news slippage where I couldn't exit trades for 5 minutes and gaping holes constantly dotted all around the M1 charts. Also the guys on the helpdesk were pretty rude.

Also they required a minimum of 10k to open so ideally looking for no more than 1k.

It also looks like they've closed my account.

https://www.aura-fx.com/home
https://www.aura-fx.co.uk/home

Cheers Marc, will take a look. The online page doesn't seem that straight forward for opening up a demo but will investigate.

Was just flicking through my old Mt4 installations and found this on my IC markets demo. Must be 3 years old this back on the M1 days.

you'll have phenomenal results once you'll able to have proportional result with 10k account and then 100k account

15% a week with 3% DD,
can only imagine doing that with 100k account(15,000$ a week)

about live account,
can't you use something like ICMarkets?

You should trade shorts only

Honestly this statement of your live account is more meaningful than all the straight line demo account statements.

I hope next week will be similar.

USDJPY

EURAUD

hi marc2014,

what make you to take buying on usjpy thx