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PWT Reboot - Supply/Demand analysis and trading

  • #101
  • Nov 21, 2017 8:37am Nov 21, 2017 8:37am
Euro we may be seeing a break of the deadlock here on H1.
Have just added another long position.

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  • #102
  • Nov 21, 2017 10:05am Nov 21, 2017 10:05am
Quoting simond2002
Euro we may be seeing a break of the deadlock here on H1. Have just added another long position. {image}
I am in the same trade Simon, I couldn’t see any demand to the left on h1 but liked the price action. I’m mainly using h1 as my entry timeframe. Im looking for s/d zones That are either dbr/rbd and take out a high/low that means a change of trend.

The other s/d zones I’m looking for are rbr/dbd that take out an s/r level.

Im looking for price action on the h1 at these zones for entry.

lets see what happens with this eu trade.
  • #103
  • Nov 21, 2017 10:21am Nov 21, 2017 10:21am
Quoting Swamipips
{quote} I am in the same trade Simon, I couldn’t see any demand to the left on h1 but liked the price action. I’m mainly using h1 as my entry timeframe. Im looking for s/d zones That are either dbr/rbd and take out a high/low that means a change of trend. The other s/d zones I’m looking for are rbr/dbd that take out an s/r level. Im looking for price action on the h1 at these zones for entry. lets see what happens with this eu trade.
It's essentially what I'm doing - a combination of SR and SD - sometimes taking trades on tests of established zones, other times aiming to enter as fresh zones form.
  • #104
  • Nov 21, 2017 1:06pm Nov 21, 2017 1:06pm
Quoting simond2002
Euro we may be seeing a break of the deadlock here on H1. Have just added another long position. {image}
Closed this one at b/e. Can't be bothered holding overnight.
  • #105
  • Nov 22, 2017 12:15pm Nov 22, 2017 12:15pm
Quoting simond2002
Probably a good time to start buying euro. {image}
Euro finally printed some decent H4 PA to expand the stop on the final position. 1.1837 is the next key H4 battleground. Letc...

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  • #106
  • Nov 22, 2017 12:27pm Nov 22, 2017 12:27pm
Been trading/monitoring EURCAD today, and EURJPY as well as EURUSD and GBPJPY (a pair I can't let go of for sentimental reasons!) It's still a quest to find the right balance between the number of pairs monitored against my own ability to trade them when the alerts sound. I definitely achieve better results and suffer a lot less from fatigue when not having to alt+tab all the time. I'm finding 6 x pairs @ M5 TF is ideal for intraday. But real-estate is still an issue. For some reason, analysis seems more straightforward when the charts are full-screen, which is tough with only 2 x monitors. A big-spend seems inevitable.
  • #107
  • Nov 22, 2017 1:22pm Nov 22, 2017 1:22pm
Quoting simond2002
Been trading/monitoring EURCAD today, and EURJPY as well as EURUSD and GBPJPY (a pair I can't let go of for sentimental reasons!) It's still a quest to find the right balance between the number of pairs monitored against my own ability to trade them when the alerts sound. I definitely achieve better results and suffer a lot less from fatigue when not having to alt+tab all the time. I'm finding 6 x pairs @ M5 TF is ideal for intraday. But real-estate is still an issue. For some reason, analysis seems more straightforward when the charts are full-screen,...
A big 4k screen will certainly help. You can then have 4 full screen charts (at HD resolution) fully on display.

Another idea is to use MT4 profiles and use a 3rd party hotkey manager to assign the arrow keys to the profiles and flick through them with a single click. For example, each profile can have 4 x full screen time frames on display.

Profile 1 = EURUSD - D1/H4/M30/ M5
Profile 2 = GBPUSD D1/H4/M30/ M5
Profile 3 = USDJPY - D1/H4/M30/ M5

You can add as many profiles as you feel comfortable with and the real estate is great.
  • #108
  • Nov 22, 2017 11:01pm Nov 22, 2017 11:01pm
C-12 & Simon
1 4k monitors is good....
but 2 4k monitor will take your trading to another level if you're a PA trader.
I am talking from experience and here I am attaching 2 screenshots for you to see and compare.

Eur/Usd 1h chart,normal candles 2 months of data in 1 screen.
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Eur/usd 1h chart,maz zoom out,6 month of data in 1 screen
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and here is a screenshot of 2 4k's side by side...
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P.S You will need a professional charting software and MT is not one of that.
Personally I use Sierra Charts for charting and it is the best tool for my needs as an S/D PA trader.Downside is that you can't hedge but you can use mt4 just to place trades.
With SC you can detach windows ,synchronize drawings across the charts etc.The possibilities are endless...
  • #109
  • Nov 22, 2017 11:48pm Nov 22, 2017 11:48pm
Quoting C-12
{quote} A big 4k screen will certainly help. You can then have 4 full screen charts (at HD resolution) fully on display. Another idea is to use MT4 profiles and use a 3rd party hotkey manager to assign the arrow keys to the profiles and flick through them with a single click. For example, each profile can have 4 x full screen time frames on display. Profile 1 = EURUSD - D1/H4/M30/ M5 Profile 2 = GBPUSD D1/H4/M30/ M5 Profile 3 = USDJPY - D1/H4/M30/ M5 You can add as many profiles as you feel comfortable with and the real estate is great.
Cheers, I'll take a look at the hotkeys over the weekend. I've been sizing up some 4k monitors but it's the prospect of having to fit a video card and get it to work that's a bit daunting. Last time I tried something similar on a PC with a specialised soundcard it took about 3 months of faffing before eventually giving up and switching to a Mac!
  • #110
  • Nov 22, 2017 11:50pm Nov 22, 2017 11:50pm
Quoting timos
C-12 & Simon 1 4k monitors is good.... but 2 4k monitor will take your trading to another level if you're a PA trader. I am talking from experience and here I am attaching 2 screenshots for you to see and compare. Eur/Usd 1h chart,normal candles 2 months of data in 1 screen. {image} Eur/usd 1h chart,maz zoom out,6 month of data in 1 screen {image} and here is a screenshot of 2 4k's side by side... {image} P.S You will need a professional charting software and MT is not one of that. Personally I use Sierra Charts for charting and it is...
Cheers t, I'll take a look.
Re, Sierra Charting does it come with a ZigZag indicator? Obviously next question, Is it possible to set the indicator and have it emulate the zones like supdem does in MT4?
  • #111
  • Nov 22, 2017 11:59pm Nov 22, 2017 11:59pm
Quoting simond2002
{quote} Cheers t, I'll take a look. Re, Sierra Charting does it come with a ZigZag indicator? Obviously next question, Is it possible to set the indicator and have it emulate the zones like supdem does in MT4?
Never used ZigZag indicator ,just the manual one where you draw it yourself...even that I use it rarely...so not sure if it has indicators that draws zigzag automatically.
"emulate the zones like supdem does in MT4?" Not sure what you mean but if you mean drawing rectangles and extending them automatically it is possible.SC has a tool called extended rectangle for that.Once price goes past your zone, you can cut that rectangle there....Let me know if that answers your question.

P.S If you go for 4k monitor most likely you will need a graphic card that supports 4k resolution... unless your current card does so.
  • #112
  • Nov 23, 2017 12:14am Nov 23, 2017 12:14am
Quoting timos
"emulate the zones like supdem does in MT4?" Not sure what you mean
My understanding of supdem is that it uses the MT4 zigzag indicator with settings 3,2,2 to identify zones, which it then then basically places rectangles around.
The options for these settings seem unique to MT4's zigzag (I took a look at one of FXStreet's zigzag indies and it doesn't come close).

Standard MT4 zigzag variables and settings:

Attached Image


I could work without supdem but it would be a lot of effort and probably beyond my ability to work with 6 x pairs on M5 intra-day charts.
  • #113
  • Nov 23, 2017 12:51am Nov 23, 2017 12:51am
Quoting simond2002
{quote} My understanding of supdem is that it uses the MT4 zigzag indicator with settings 3,2,2 to identify zones, which it then then basically places rectangles around. The options for these settings seem unique to MT4's zigzag (I took a look at one of FXStreet's zigzag indies and it doesn't come close). Standard MT4 zigzag variables and settings: {image} I could work without supdem but it would be a lot of effort and probably beyond my ability to work with 6 x pairs on M5 intra-day charts.
I see.Never used that on mt4
there seems to be 2 zig zag indicators on sc
zig zag 1 tool:

http://prntscr.com/he4ohu

zig zag tool 2:

http://prntscr.com/he4osn

Zig Zag tool 1,default settings applied on a chart:

http://prntscr.com/he4qax
  • #114
  • Nov 23, 2017 3:12am Nov 23, 2017 3:12am
Eu short with tp1
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eu ended on be @ tp1
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AUD USD Before
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After. Tp 1 reached
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  • #115
  • Nov 23, 2017 4:52am Nov 23, 2017 4:52am
Quoting simond2002
{quote} Cheers t, I'll take a look. Re, Sierra Charting does it come with a ZigZag indicator? Obviously next question, Is it possible to set the indicator and have it emulate the zones like supdem does in MT4?
Yes, SierraChart has a very complex ZigZag indicator, with a serious amount of options. Here the documentation
However using Sierra just for this is like taking the private helicopter to get out to buy cigarettes.
Sometime the horizon disappear. Twitter: @_whiteout
  • #116
  • Nov 23, 2017 5:45am Nov 23, 2017 5:45am
Quoting timos
Eu short with tp1 {image} eu ended on be @ tp1 {image} AUD USD Before {image} After. Tp 1 reached {image}
Nice one
  • #117
  • Nov 23, 2017 5:48am Nov 23, 2017 5:48am
If if you use Lmax as a broker you can execute directly from Sc.

Quoting timos
C-12 & Simon 1 4k monitors is good.... but 2 4k monitor will take your trading to another level if you're a PA trader. I am talking from experience and here I am attaching 2 screenshots for you to see and compare. Eur/Usd 1h chart,normal candles 2 months of data in 1 screen. {image} Eur/usd 1h chart,maz zoom out,6 month of data in 1 screen {image} and here is a screenshot of 2 4k's side by side... {image} P.S You will need a professional charting software and MT is not one of that. Personally I use Sierra Charts for charting and it is...
  • #118
  • Nov 23, 2017 5:48am Nov 23, 2017 5:48am
Quoting whiteout
{quote} Yes, SierraChart has a very complex ZigZag indicator, with a serious amount of options. Here the documentation However using Sierra just for this is like taking the private helicopter to get out to buy cigarettes.
Hey whiteout (VERY) long time no see. Hope all's well your side. Cheers for the documentation.

Interesting to see how other charting packages organise the logic on their indies but I think Sierra's too complex for my needs.

I don't smoke any more but a helicopter would be nice
  • #119
  • Nov 23, 2017 5:59am Nov 23, 2017 5:59am
Might have a punt at buying NZDJPY this afternoon.

W1 at support:

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D1 Not much going on:

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H1, just a bit of SR:

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Will be watching lower TFs
  • #120
  • Nov 23, 2017 5:59am Nov 23, 2017 5:59am
Quoting Swamipips
If if you use Lmax as a broker you can execute directly from Sc. {quote}
I am aware of that. I am doing the same with fxcm live & SC.
Problem is that I can't hedge and can't have multiple separate positions,they get netted as 1
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