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PWT Reboot - Supply/Demand analysis and trading

  • #121
  • Nov 23, 2017 6:03am Nov 23, 2017 6:03am
Quoting simond2002
{quote} 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
Yeah, all well, hope the same for you.
In Sierra (and more or less in all other serious trading platform) ZigZag indicator is not just a simple graphical indicator but an instrument to follow volume swing and a foundamental tool used to help algo and automated system to find top/low
Sometime the horizon disappear. Twitter: @_whiteout
  • #122
  • Nov 23, 2017 6:09am Nov 23, 2017 6:09am
Quoting timos
{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
Oh I see, I’m not sure if Lmax allow that or not, I would think so but not sure.

How do you implement the hedges? Smaller timeframe scalps against a higher timeframe trade?
  • #123
  • Nov 23, 2017 7:11am Nov 23, 2017 7:11am
Quoting Swamipips
{quote} Oh I see, I’m not sure if Lmax allow that or not, I would think so but not sure. How do you implement the hedges? Smaller timeframe scalps against a higher timeframe trade?
Lmax does allow that on mt4.It is the platform itself that doesn't support hedging.
I buy on "uptrend" retraces,close 50% at target 1 and let the rest building.Some times when there is a good PA I go against the "trend" and it happens to be at the top of a reverse....sometimes. That's why hedging/going short & long at the same time is vital for me.
  • #124
  • Nov 23, 2017 7:29am Nov 23, 2017 7:29am
Quoting timos
{quote} Lmax does allow that on mt4.It is the platform itself that doesn't support hedging. I buy on "uptrend" retraces,close 50% at target 1 and let the rest building.Some times when there is a good PA I go against the "trend" and it happens to be at the top of a reverse....sometimes. That's why hedging/going short & long at the same time is vital for me.
i was thinking of the following as an example...long from daily demand to next daily supply. In between take longs from h1 demands close half at h1 supply and holding half to daily supply.
  • #125
  • Nov 23, 2017 7:36am Nov 23, 2017 7:36am
Quoting Swamipips
{quote} i was thinking of the following as an example...long from daily demand to next daily supply. In between take longs from h1 demands close half at h1 supply and holding half to daily supply.
That's all you need to get an edge and floating profit and that's what I do
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  • #126
  • Nov 24, 2017 6:06am Nov 24, 2017 6:06am
Quoting simond2002
{quote} Euro finally printed some decent H4 PA to expand the stop on the final position. 1.1837 is the next key H4 battleground. Letc... {image}
S/L is now expanded to entry +170. Have set a T/P so it's now one or the other. Letc...

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  • #127
  • Nov 24, 2017 8:17am Nov 24, 2017 8:17am
Quoting simond2002
Might have a punt at buying NZDJPY this afternoon.
On H1 this is clearly a "contra-trend" trade but there were reasons (both on this TF and higher) for scalping the flag north.

Price has only just popped its head over the top of the local pivot to the left. I anticipated this would happen overnight but it's taken quite a long time so instead of waiting for 1R before locking, will move the stop to b/e now and see what happens.

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  • #128
  • Nov 24, 2017 11:18am Nov 24, 2017 11:18am
Quoting simond2002
{quote} On H1 this is clearly a "contra-trend" trade but there were reasons (both on this TF and higher) for scalping the flag north. Price has only just popped its head over the top of the local pivot to the left. I anticipated this would happen overnight but it's taken quite a long time so instead of waiting for 1R before locking, will move the stop to b/e now and see what happens. {image}
Looks good. I had the same thoughts earlier in the week on this one. Ended pulling the plug after it flat-lined..

Daily PA starting to show some promise.
  • #129
  • Nov 24, 2017 11:24am Nov 24, 2017 11:24am
Quoting C-12
{quote} Looks good. I had the same thoughts earlier in the week on this one. Ended pulling the plug after it flat-lined.. Daily PA starting to show some promise.
I'm a bit loathe to hold it over the weekend because this thing has a habit of gapping on W1 candles around the swing points. Unless it turns in the next hour, will probably bail and take another look Monday. Some nice euro trades you put in there btw
  • #130
  • Nov 24, 2017 12:50pm Nov 24, 2017 12:50pm
Quoting simond2002
{quote} I'm a bit loathe to hold it over the weekend because this thing has a habit of gapping on W1 candles around the swing points. Unless it turns in the next hour, will probably bail and take another look Monday. Some nice euro trades you put in there btw
I guess I'm finally accepting that overnight holds are a necessary evil, as long as there's a decent level to hide a stop behind.

The EU setup appeared late in the day and I probably wouldn't have left it open if live.

Open trades near current price on a Friday night is a different animal altogether.
  • #131
  • Nov 30, 2017 11:48am Nov 30, 2017 11:48am
Quoting simond2002
{quote} S/L is now expanded to entry +170. Have set a T/P so it's now one or the other. Letc... {image}
Revised the S/L on this setup after taking a break and coming back with fresh eyes. S/L (about 3.5R) is now set to just below what I think is going to be the best in H4 PA I can hope to expect at this point. T/P remains unchanged.

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  • #132
  • Nov 30, 2017 12:00pm Nov 30, 2017 12:00pm
Quoting simond2002
{quote} Revised the S/L on this setup after taking a break and coming back with fresh eyes. S/L (about 3.5R) is now set to just below what I think is going to be the best in H4 PA I can hope to expect at this point. T/P remains unchanged. {image}
Thats the problem with these swing trades, I can easily see this coming back to 1.1750 before takeoff again. Difficult to captur profit and not give it back but also get the bigger swings.
  • #133
  • Nov 30, 2017 2:07pm Nov 30, 2017 2:07pm
Quoting Swamipips
{quote} Thats the problem with these swing trades, I can easily see this coming back to 1.1750 before takeoff again. Difficult to captur profit and not give it back but also get the bigger swings.
Sitting through H4 swings can be tedious but it comes with the H4 territory. The current stop's now in the correct place. Letc...
  • #134
  • Nov 30, 2017 2:08pm Nov 30, 2017 2:08pm
Euro prints first bullish MN engulfing candle in 11 months:

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  • #135
  • Dec 1, 2017 8:32am Dec 1, 2017 8:32am
Stayed long euro but shorted EURJPY. Go figure...

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  • #136
  • Dec 3, 2017 9:04am Dec 3, 2017 9:04am
Sharing a couple of MT4 tips that can help one develop an understanding of the market's rhythm more speedily. NB: I used to conduct this kind of visualisation using Forex Tester but found the programme so extremely difficult to work with that I eventually gave up. Using MT4 enables me to readily use my broker's data without faffing, and also load supdem indie into the chart, which is vital to the way I mark things up.

What I'm doing here is essentially spending an hour or so at the weekend observing the recent historical PA while looking for trade opportunities, which I take in my head if they show up. Today I imported EURJPY M1 data. I was initially looking to short PA at that darker blue box (with the tick mark) but when PA engulfed that zone I immediately switched sentiment and looked for a buy signal, which eventually came on the breakout of that flag. The target is obvious.

Please note this is not something I would refer to as "back-testing", it's more "rhythmic-training" if that makes sense.

MT4 doesn't easily support this kind of thing but the way I set it up is as follows: If you note the field "test.ex4" highlighted with a red-circle. This is basically a blank Expert Advisor that I've created using the editor included in MT4. The ex4 file can then be quickly recalled in MT4's test environment, and the benefit here is that I can simply call up my basic trading template (including supdem indie) and immediately start to observe recent PA in quick-time (something I personally could never do in Forex Tester).

The Visual mode slider I've also highlighted in red is set to "31". 32 will advance PA too quickly for me; 31 is a speed I can work with.

I find these exercises particularly useful because, for example, they enable me to train my brain to immediately switch sentiment without giving it a further thought - a life saver in the live market. There are plenty more benefits too. Give it a go.

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  • #137
  • Dec 3, 2017 9:43am Dec 3, 2017 9:43am
Good tips thanks Simon. Fx blue also do a plug in for mt4 that allows you to replay live market data with multiteframe and indicator on.
Quoting simond2002
Sharing a couple of MT4 tips that can help one develop an understanding of the market's rhythm more speedily. NB: I used to conduct this kind of visualisation using Forex Tester but found the programme so extremely difficult to work with that I eventually gave up. Using MT4 enables me to readily use my broker's data without faffing, and also load supdem indie into the chart, which is vital to the way I mark things up. What I'm doing here is essentially spending an hour or so at the weekend observing the recent historical PA while looking for trade...
  • #138
  • Dec 3, 2017 10:32am Dec 3, 2017 10:32am
Quoting Swamipips
Fx blue also do a plug in for mt4 that allows you to replay live market data with multiteframe and indicator on.
Cheers for that, will take a look
  • #139
  • Dec 4, 2017 11:35am Dec 4, 2017 11:35am
UJ, first off, couple more in the pipeline.

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  • #140
  • Dec 4, 2017 11:58am Dec 4, 2017 11:58am
Quoting simond2002
UJ, first off, couple more in the pipeline. {image}
Going to expand the lower target to 110.55'ish (check Daily). Worth a punt.
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