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ReadtheMarket - Supply and Demand with Price Action

  • #5,161
  • Apr 4, 2019 11:03am Apr 4, 2019 11:03am
Okay, then I will post more as they come. Here is one I just exited at around 12,5R. Still learning to master my emotions while holding these, so happy to end the day with a profit I'm happy with. Account is up 123% this week, 3/3 won. Of course even more if I had placed all of the trades I've posted above here, but at least I've begun to overcome my inner demons. Funny to see all the hours come to fruition after all.

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  • #5,162
  • Apr 4, 2019 11:08am Apr 4, 2019 11:08am
Quoting selfcontrol
Sure ahdat, here are two recent ones. Not sure how my losses will help you, but they happen when I break my procedure, simple as that. There is nothing random, so there are no random losses. When I lose the mistake I did is very obvious, as I assume it is with everyone. To be able to focus fully 100% of the time with such small entry zones is not something I'm aiming towards, because a 1R loss vs. a 15R+ win is nothing in the grand scheme of things. {image} {image}
i think your entry was slightly off on this one with the tt

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btw i think i did a trade like yours this morning without realizing it. a little bit anxious on the entry and exit, but not too bad. i think i'll take a few days next week and try your style of trading

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RIP RTM - long live Nonsense Trading
  • #5,163
  • Apr 4, 2019 11:14am Apr 4, 2019 11:14am
Quoting selfcontrol
Okay, then I will post more as they come. Here is one I just exited at around 12,5R. Still learning to master my emotions while holding these, so happy to end the day with a profit I'm happy with. Account is up 123% this week, 3/3 won. Of course even more if I had placed all of the trades I've posted above here, but at least I've begun to overcome my inner demons. Funny to see all the hours come to fruition after all. {image}
haha i feel you. you tell yourself you'll hold a trade all the way, but when you start seeing 5, 6, 7R, any drawdown is painful.
RIP RTM - long live Nonsense Trading
  • #5,164
  • Apr 4, 2019 11:32am Apr 4, 2019 11:32am
Quoting selfcontrol
Okay, then I will post more as they come.

Thanks man

We can go and replay your screens !!
  • #5,165
  • Apr 4, 2019 11:35am Apr 4, 2019 11:35am
Quoting selfcontrol
Sure ahdat



This is the way to predict the breaks



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  • #5,166
  • Apr 4, 2019 11:47am Apr 4, 2019 11:47am
How is often do you get slippage or bad fills on your small zones? For me one of the most painful things with small zone trading is when i’m wrong at the wrong time, I can lose like 5r because price shoots through my zone. Hell that happened to me the other day on gu. That’s the biggest reason that makes hesitant to use POs

Quoting selfcontrol
Sure ahdat, here are two recent ones. Not sure how my losses will help you, but they happen when I break my procedure, simple as that. There is nothing random, so there are no random losses. When I lose the mistake I did is very obvious, as I assume it is with everyone. To be able to focus fully 100% of the time with such small entry zones is not something I'm aiming towards, because a 1R loss vs. a 15R+ win is nothing in the grand scheme of things. {image} {image}
RIP RTM - long live Nonsense Trading
  • #5,167
  • Apr 4, 2019 2:03pm Apr 4, 2019 2:03pm
Quoting ahdat
{quote} i think your entry was slightly off on this one with the tt {image} btw i think i did a trade like yours this morning without realizing it. a little bit anxious on the entry and exit, but not too bad. i think i'll take a few days next week and try your style of trading {image}
It wasn't a TT based on the historic M1 data, it was on the fresh M1 data. I'm not sure I can see where your trade was? The green dotted line on the right side of the chart? A buy? Then I would have to say no. But if it works it works, that's what counts in the end.

Quoting ahdat
How is often do you get slippage or bad fills on your small zones? For me one of the most painful things with small zone trading is when i’m wrong at the wrong time, I can lose like 5r because price shoots through my zone. Hell that happened to me the other day on gu. That’s the biggest reason that makes hesitant to use POs {quote}
It depends. If the zone is wrong I might get slipped to -1,2-1,5R - happened a few times. If it is utterly wrong and there's unexpected news then I've lost upwards to 6R - but this was way earlier before I cemented my approach. And I have never ever taken a market order, I only operate on POs no matter what.
  • #5,168
  • Apr 4, 2019 6:49pm Apr 4, 2019 6:49pm
Quoting selfcontrol
{quote} It wasn't a TT based on the historic M1 data, it was on the fresh M1 data. I'm not sure I can see where your trade was? The green dotted line on the right side of the chart? A buy? Then I would have to say no. But if it works it works, that's what counts in the end. {quote} It depends. If the zone is wrong I might get slipped to -1,2-1,5R - happened a few times. If it is utterly wrong and there's unexpected news then I've lost upwards to 6R - but this was way earlier before I cemented my approach. And I have never ever taken a market order,...
Ok POs (Pending Orders) are also only Market Orders from the execution, if you trading on normal retail Platforms like MT4 or cTrader and so on. I just want to say this here so beginners don't believe with PO´s they don't get slippage. You get a better course because you don't lose time from thinking to clicking.
aka Liquinvest
  • #5,169
  • Apr 4, 2019 10:01pm Apr 4, 2019 10:01pm
Quoting selfcontrol
{quote} It wasn't a TT based on the historic M1 data, it was on the fresh M1 data. I'm not sure I can see where your trade was? The green dotted line on the right side of the chart? A buy? Then I would have to say no. But if it works it works, that's what counts in the end. {quote} It depends. If the zone is wrong I might get slipped to -1,2-1,5R - happened a few times. If it is utterly wrong and there's unexpected news then I've lost upwards to 6R - but this was way earlier before I cemented my approach. And I have never ever taken a market order,...
thanks for the insight looks like i have some fine tuning to do
RIP RTM - long live Nonsense Trading
  • #5,170
  • Apr 5, 2019 12:46am Apr 5, 2019 12:46am
Quoting Copis
{quote} Ok POs (Pending Orders) are also only Market Orders from the execution, if you trading on normal retail Platforms like MT4 or cTrader and so on. I just want to say this here so beginners don't believe with PO´s they don't get slippage. You get a better course because you don't lose time from thinking to clicking.
What I meant is I always plan my trade ahead at specific levels, so there is no way I could sit there and wait to press execute on it. Then it would be random coincidence if my entry and SL were in the exact place they were supposed to be. Also keep in mind for buys that there is no spread added to the SL, but to the entry due to the data the candles are made up of. For sells you add spread to the SL and not the entry.
  • #5,171
  • Apr 5, 2019 6:03am Apr 5, 2019 6:03am
Trying to trade like selfcontrol
XAUUSD: buy opportunity.
Not sure if zone is marked correctly
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  • #5,172
  • Apr 5, 2019 8:06am Apr 5, 2019 8:06am
i see sometimes your PO takes quite a while (in terms of the scale your trade is in). your confidence is amazing and must have been exhaustively backtested...... There must be something I overlooked along the way ...

Quoting selfcontrol
{quote} What I meant is I always plan my trade ahead at specific levels, so there is no way I could sit there and wait to press execute on it. Then it would be random coincidence if my entry and SL were in the exact place they were supposed to be. Also keep in mind for buys that there is no spread added to the SL, but to the entry due to the data the candles are made up of. For sells you add spread to the SL and not the entry.
  • #5,173
  • Apr 5, 2019 9:04am Apr 5, 2019 9:04am
XAUUSD: result.
I know, it's not a perfect trade. But I am still learning. This trade pulled me out of depression. It gave me hope and confidence that I am close to my goal ( to become constantly profitable trader).
PS: I think that trade was closed early and it has potential to go up. Let's see
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  • #5,174
  • Apr 5, 2019 1:36pm Apr 5, 2019 1:36pm
AUDCAD Sell opportunity
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  • #5,175
  • Apr 5, 2019 4:49pm Apr 5, 2019 4:49pm
Quoting charvo
i see sometimes your PO takes quite a while (in terms of the scale your trade is in). your confidence is amazing and must have been exhaustively backtested...... There must be something I overlooked along the way ... {quote}
Hmm, not entirely sure I agree with that. If it's a high scale trade of course sometime it'll take more time to get their orders filled, e.g EURGBP the other day if you look at M1, but knowing that the engulfs are there in all the right scales there's nothing stopping you except your own emotions. I knew EURGBP would go up to where it is now, but my emotions made me exit way earlier to put me at ease. I'm okay with it, but at the same time not. It's a learning experience as with all other things. As for exhaustively backtested/fronttested, you name it - I've been putting in between 13-18 hours for the last year and a half, to the point where I didn't even need to look at the charts to test my theories because I could just close my eyes and see it all perfectly. Analytical (passive) confidence is perfect, trading (active) confidence is still in development but growing rapidly.

el. - your XAUUSD example was correct to me, a hint would be to go into M1 and look at exactly where XAUUSD turned and reason it out for yourself and keep it in mind for the future to see if it happens again.
  • #5,176
  • Apr 5, 2019 5:03pm Apr 5, 2019 5:03pm
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  • #5,177
  • Apr 6, 2019 4:02am Apr 6, 2019 4:02am
Quoting corsica
{image}
Hi, corsica. Thanks for posting your trade. I was looking for same short opportunity but I did not enter because i did not know where the price would exactly bounce.
Could you please explain why PO was placed at that level.

Selfcontrol - thanks for your hint, greatly appreciated.
Not sure if I marked Sl level correctly. Need a lot of practice.
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  • #5,178
  • Apr 6, 2019 6:50am Apr 6, 2019 6:50am
Hi El,
It's very basic, a supply inside a flag limit. The price was due to bounce there. The RR was goo so I took it. I took my profits on the way down. Now, I have no idea if the price will hit my TP. I think there is a good chance but it is certainly not guaranteed.
  • #5,179
  • Apr 7, 2019 8:52am Apr 7, 2019 8:52am
USDMXN. Interesting moment.
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  • #5,180
  • Apr 7, 2019 11:38am Apr 7, 2019 11:38am
Hello,

Anyone could give me some hint on what i did wrong on this trade?
Where will u put your tiny zone? If you trade will u be able to pin point this entry with few pips differences?
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Thank you in advance!
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