intraday trend trading with price action | Page 67 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

MultiTimeFrame Trend Trading with Price Action 242 replies

Price Action at Major Support or Resistence (Horizontal) - For Intraday Traders 179 replies

Intraday price action trend trading 10,404 replies

Any Recommendations on Learning Intraday Price Action Trading 5 replies

Price Pattern Notifications/Trend Alert Price Action Scanner 7 replies

Attachments: intraday trend trading with price action
Exit Attachments

intraday trend trading with price action

  • #1,321
  • Mar 3, 2010 12:24pm Mar 3, 2010 12:24pm
Quoting trade price
trading is all about supply and demand.
lots of people will disagree with me but i dont care.
for me it is.more later.
what is your definition about supply and demand?
Let me try.

supply=sell order
demand=buy order ?
  • #1,322
  • Mar 3, 2010 12:46pm Mar 3, 2010 12:46pm
Quoting francis2
Its Sho,s style of trading I believe Dave if price doesnt go one way itll go the other, stop and reverse, tight stops and ready for the next trade, traditional entry of ib wouldnt have got you short anywat cos bar bottom wasnt broken
I'll keep that in mind Francis, thanks. I had my short entry ready on this IB but it didn't trigger as you say. What I'd like to find out is if Sho thinks it would be valid to have gone long at this point on the break of the IB upwards, even though we were in a corrective move and the next anticipated impulse was to be down.
  • #1,323
  • Mar 3, 2010 12:59pm Mar 3, 2010 12:59pm
Quoting trade price
trading is all about supply and demand.
lots of people will disagree with me but i dont care.
for me it is.more later.
what is your definition about supply and demand?
I think there is a continuous battle between the forces of supply (people wanting to sell at a certain price) and demand (people wanting to buy at a certain price).

When there are more buy orders than sell orders at a certain price, the buy orders eat through all the available sell orders (must be a seller for every buyer) leaving an excess of buy orders which need to be filled. Since there are no more sell orders at the current price level, price must rise to a level where enough sell (limit) orders are available to fill the remaining market buy orders.

This is why price can spike up at times of high demand such as news. The flood of buy orders swamps the available sell orders at the current level and price rises in the search of more supply. If supply is thin due to limit orders being cancelled in anticipation of the news, price will rise dramatically up to a point where sufficient supply is found.

A supply/demand inbalance can be seen on the chart where price shoots away from a level with great momentum.

Just my brain dump.
  • #1,324
  • Mar 3, 2010 1:03pm Mar 3, 2010 1:03pm
Quoting Sutts
I'll keep that in mind Francis, thanks. I had my short entry ready on this IB but it didn't trigger as you say. What I'd like to find out is if Sho thinks it would be valid to have gone long at this point on the break of the IB upwards, even though we were in a corrective move and the next anticipated impulse was to be down.
Yes I know what you mean you dont want to get caught up in yo yo false breaks
  • #1,325
  • Mar 3, 2010 1:47pm Mar 3, 2010 1:47pm
My chart...
Attached Image (click to enlarge)
Click to Enlarge Name: gu3.3.10.jpg Size: 112 KB
  • #1,326
  • Mar 3, 2010 1:49pm Mar 3, 2010 1:49pm
Quoting Sutts
I think there is a continuous battle between the forces of supply (people wanting to sell at a certain price) and demand (people wanting to buy at a certain price).

When there are more buy orders than sell orders at a certain price, the buy orders eat through all the available sell orders (must be a seller for every buyer) leaving an excess of buy orders which need to be filled. Since there are no more sell orders at the current price level, price must rise to a level where enough sell (limit) orders are available to fill the remaining market...
Nicely explained. To follow on, resistance is created at a point where there are no more buyers in excess of sellers, and support is created where there are no more sellers in excess of buyers at that price point.

Pardy
  • #1,327
  • Mar 3, 2010 3:52pm Mar 3, 2010 3:52pm
Hi Master Sho
this is my first posting just finish reading the whole thread hope im not too late join your class .tks
  • #1,328
  • Edited 4:50pm Mar 3, 2010 4:22pm | Edited 4:50pm
Quoting AlanOne
Hi Kurt,

I do this too, but I use the F12 key to advance the chart 1 bar at a time rather than the mouse as the mouse can pull 3 bars at a time.

Alternativaly I use a backtesting program for MT4 that allows me to load between two dates in any time frame and use any template and then watch at any speed from realtime to fast forward. It can be paused and trades can be placed too so as to see the results you would have had.

It is made up of a few files that need dropping into various folders in MT4 but is I find it very usefull and is as close...
Hey Alan,

I wish my broker supported MT4 but they do not so I am stuck with their platform. There are some cool features to MT4. I stay with this broker because they give me great fills and have low spreads. Your suggestions should help some of the others out though.

Thanks

Kurt
  • #1,329
  • Mar 3, 2010 10:20pm Mar 3, 2010 10:20pm
Sho can you please show me with a chart i think i have difficulties to see the difference between exhaustion candles and momentum candles can you please help me with this ?


best regards
  • #1,330
  • Mar 4, 2010 12:42am Mar 4, 2010 12:42am
Quoting trade price
this chart is about the 3 trades i talked about earlier.
i used candlestick chart for you guys.
its SAME GU chart
Brilliant explanation.

A question I have been battling my whole trading career with :

When do I let it run and when do I aim for 2:1 ?

I hate it to split my orders in half.

From your experience, is it better to aim for 2:1 or else take be ?

Or to let it run and lock in 2:1 profit or else take be ?
  • #1,331
  • Mar 4, 2010 2:55am Mar 4, 2010 2:55am
i dit not enter short on this cause of the bullish divergence
Not shure if its with the rules?
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd-0130.JPG Size: 62 KB
  • #1,332
  • Mar 4, 2010 3:08am Mar 4, 2010 3:08am
Quoting MJurban
i dit not enter short on this cause of the bullish divergence
Not shure if its with the rules?
there had already been considerable downtrend and hit yesterdays consolidation to left
  • #1,333
  • Mar 4, 2010 5:20am Mar 4, 2010 5:20am
Quoting Sutts
I think there is a continuous battle between the forces of supply (people wanting to sell at a certain price) and demand (people wanting to buy at a certain price).

When there are more buy orders than sell orders at a certain price, the buy orders eat through all the available sell orders (must be a seller for every buyer) leaving an excess of buy orders which need to be filled....
nice explanation.
  • #1,334
  • Mar 4, 2010 5:22am Mar 4, 2010 5:22am
Quoting matlobien
Brilliant explanation.

A question I have been battling my whole trading career with :

When do I let it run and when do I aim for 2:1 ?

I hate it to split my orders in half.

From your experience, is it better to aim for 2:1 or else take be ?

Or to let it run and lock in 2:1 profit or else take be ?







you have to follow only one of them.
  • #1,335
  • Mar 4, 2010 5:24am Mar 4, 2010 5:24am
Quoting MJurban
i dit not enter short on this cause of the bullish divergence
Not shure if its with the rules?
if you wanna stay out .just stay out when you see divergence.
i dont use divergence for entry.
  • #1,336
  • Mar 4, 2010 5:27am Mar 4, 2010 5:27am
Quoting Thenew
My chart...
Attachment
imho it is always better to enter earlier than late.loss will be small and profit will be bigger.
most of people are doing the other way
they enter late thats why their proft is small, loss is big .
hope it make sense
  • #1,337
  • Mar 4, 2010 5:34am Mar 4, 2010 5:34am
Quoting trade price
nice explanation.
Thanks Sho
  • #1,338
  • Edited 5:54am Mar 4, 2010 5:53am | Edited 5:54am
with this chart can you explain how do you see supply and demand
Attached Image
  • #1,339
  • Mar 4, 2010 6:06am Mar 4, 2010 6:06am
now media and people is talking dollar is down against the others.
do you understand why they are allways late from professinal traders.
just two days ago they said they are very bullish about dollar.
and we knew end of last week something is comeing.
we can see them in the charts we are chart traders.
dont listen to media.they are way behind actual professional trading.

sho
  • #1,340
  • Mar 4, 2010 6:11am Mar 4, 2010 6:11am
Quote
imho it is always better to enter earlier than late.loss will be small and profit will be bigger.
most of people are doing the other way
they enter late thats why their proft is small, loss is big .
hope it make sense

Thatīs something iīm tryng to refine, and starting to understant what you mean, ex: in my 1 trade it was wise wait for a retra as the impulse at that moment was still down and that would have been a be at worst, risk first then profit.
Apreciate your comments as always, many thanks...
0 traders viewing now