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Price is everything

  • #1,261
  • Sep 9, 2010 5:00pm Sep 9, 2010 5:00pm
Quoting redsword11
Hello and welcome


I have no other material that l could recommend but there isn't much more to the strategy than what you have seen - wait for prices to reach YOUR PREDETERMINED ZONES and study the reaction and pick your moment. How you you pick your moment? ...........that just comes with experience and screen time, no magic flashing lights and EA required - read price, know what is doing and why its reacting




most welcome to post anything here and be as active as you want to be with charts, trade setups and ideas etc


Red...
Thanks for the welcome, I might post up some stuff sometime next week, I need to finish reading your thread first. Then hopefully this weekend I can get some practice in as well as studying Seiden's webinars some more and maybe I can throw up some charts next week. But be warned I don't trade off supply and demand as of yet so anything I do post will be a very amatuer attempt.

trublu
  • #1,262
  • Sep 9, 2010 5:04pm Sep 9, 2010 5:04pm
Nah, don't discount yourself - just trade your plan and if you like the supply and demand approach just add it to what you are currently doing
  • #1,263
  • Sep 9, 2010 5:49pm Sep 9, 2010 5:49pm
I can't just keep reposting this in each thread I like without killing the bandwidth:

Here's 9 weekly charts I like

http://www.forexfactory.com/showpost...postcount=3196

http://www.forexfactory.com/showpost...postcount=3197
  • #1,264
  • Sep 10, 2010 7:55am Sep 10, 2010 7:55am
Quoting redsword11
Attachment
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  • #1,265
  • Sep 10, 2010 9:23am Sep 10, 2010 9:23am
I was watching this level this morning, and I looked for confirmation in a smaller TF. Now, what happened was that the entry would have been above the level I'm showing, do you take the confirmation away from the level or the confirmation should be inside the level?
Thanks for your posts red. I'm reading every single one.
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  • #1,266
  • Sep 10, 2010 9:42am Sep 10, 2010 9:42am
Quoting willi9723
I was watching this level this morning, and I looked for confirmation in a smaller TF. Now, what happened was that the entry would have been above the level I'm showing, do you take the confirmation away from the level or the confirmation should be inside the level?
Thanks for your posts red. I'm reading every single one.

its either - prices do both , either just kisses the cluster or sinks into it, no way or really predetermining this but you have the idea


its always a little subjective but once you have predetermined your RR it doesn't really matter - in this particular case the profit margin isn't great so no trade for me
  • #1,267
  • Sep 10, 2010 9:47am Sep 10, 2010 9:47am
Quoting willi9723
I was watching this level this morning, and I looked for confirmation in a smaller TF. Now, what happened was that the entry would have been above the level I'm showing, do you take the confirmation away from the level or the confirmation should be inside the level?
Thanks for your posts red. I'm reading every single one.


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  • #1,268
  • Sep 10, 2010 9:48am Sep 10, 2010 9:48am
Quoting redsword11
its either - prices do both , either just kisses the cluster or sinks into it, no way or really predetermining this but you have the idea


its always a little subjective but once you have predetermined your RR it doesn't really matter - in this particular case the profit margin isn't great so no trade for me
Sam says that he enters limit @ these level, I do that but no in forex, is been tough for me. Have you ever enter limit or you always wait for confirmation?
  • #1,269
  • Sep 10, 2010 9:54am Sep 10, 2010 9:54am
Quoting willi9723
Sam says that he enters limit @ these level, I do that but no in forex, is been tough for me. Have you ever enter limit or you always wait for confirmation?

l rarely use limits because how do you know a level is going to be respected or not?

Answer - you don't - therefore let prices sink or rally into zone, then identify entry based on price reactions

bearish enguilfing @ supply

bullish enguilfing @ demand

and thats it, nothing else needs to be said about it
  • #1,270
  • Sep 10, 2010 9:59am Sep 10, 2010 9:59am
any thoughts on this level 15 min. chart.
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  • #1,271
  • Sep 10, 2010 10:05am Sep 10, 2010 10:05am
Quoting willi9723
any thoughts on this level 15 min. chart.


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........and before taking a long on cable - glance @ EG, see if its @ supply
  • #1,272
  • Sep 10, 2010 10:08am Sep 10, 2010 10:08am
although the prices go through the level on the left, that happens, usually a rejection spike will form - cable is an asshole pair
  • #1,273
  • Sep 10, 2010 10:14am Sep 10, 2010 10:14am
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  • #1,274
  • Sep 10, 2010 10:28am Sep 10, 2010 10:28am
Quoting redsword11
although the prices go through the level on the left, that happens, usually a rejection spike will form - cable is an asshole pair

You're right with gbp, is very complicated
  • #1,275
  • Sep 10, 2010 10:30am Sep 10, 2010 10:30am
Quoting willi9723
You're right with gbp, is very complicated

the majors are promoted by brokers with the smallest spreads because they respect tech least of all and therefore you lose your money faster - and we are taught early in our education to focus on the majors ............. eh
  • #1,276
  • Sep 13, 2010 3:49pm Sep 13, 2010 3:49pm
A few that I am watching. Just waiting right now

Kulu
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  • #1,277
  • Sep 14, 2010 6:54am Sep 14, 2010 6:54am
Quoting kulu
A few that I am watching. Just waiting right now

Kulu
Dang, I missed the EUR.GBP trade. For some reason didn't hear my phone alerts go off. Oh well, on to the next trade.

Kulu
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  • #1,278
  • Sep 15, 2010 1:31pm Sep 15, 2010 1:31pm
Quoting redsword11
the majors are promoted by brokers with the smallest spreads because they respect tech least of all and therefore you lose your money faster - and we are taught early in our education to focus on the majors ............. eh
Hey redsworth,
Where are you these days .....vacationing.?
  • #1,279
  • Sep 15, 2010 1:42pm Sep 15, 2010 1:42pm
Quoting MktScape
Hey redsworth,
Where are you these days .....vacationing.?

not quite, wish l could



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will be back in a while



Red
  • #1,280
  • Sep 16, 2010 9:10am Sep 16, 2010 9:10am
Quoting redsword11
not quite, wish l could



Attachment

Attachment



will be back in a while



Red

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this spiked tg exactly, l actually bailled this near entry as l didn't like the price action on lower tfs before this went ...............



makes me mad
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