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Price is everything

  • #1,321
  • Sep 21, 2010 3:03pm Sep 21, 2010 3:03pm
Quoting redsword11
if l am not on the edge of a cliff - l do not feel alive
hm ... here is a trade i am in fore a couple of weeks now. Its milkin some good pips.
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  • #1,322
  • Sep 21, 2010 3:05pm Sep 21, 2010 3:05pm
Quoting redsword11
Attachment


you will be taken out - re entry south
I realized that and moved my SL a bit farther to avoid getting stopped out. Lets see how it plays.
  • #1,323
  • Sep 21, 2010 3:20pm Sep 21, 2010 3:20pm
Quoting MktScape
hm ... here is a trade i am in fore a couple of weeks now. Its milkin some good pips.

my goodness


well done, we have a trader
  • #1,324
  • Sep 21, 2010 3:24pm Sep 21, 2010 3:24pm
Quoting redsword11
my goodness


well done, we have a trader

haha .... i would say trader in the making ...still has a long way to ... hopefully will get there sooner or later.
  • #1,325
  • Sep 21, 2010 3:32pm Sep 21, 2010 3:32pm
Quoting MktScape
haha .... i would say trader in the making ...still has a long way to ... hopefully will get there sooner or later.


nah, l have seen you - brave and bold trader

if l owned a hat would take it off to ya


salute
  • #1,326
  • Sep 21, 2010 3:35pm Sep 21, 2010 3:35pm
Quoting redsword11
got stopped


re entry on demand zone lower



Attachment
so when price enters the next demand zone (in pink) there are greater chances of rally?
  • #1,327
  • Sep 21, 2010 3:37pm Sep 21, 2010 3:37pm
Quoting MktScape
so when price enters the next demand zone (in pink) there are greater chances of rally?

when zones are stacked like they were on swissy - the first zone is usually used as a trap and l fell for it


drops to lower demand zone for a better RR long
  • #1,328
  • Sep 21, 2010 3:41pm Sep 21, 2010 3:41pm
Quoting redsword11
nah, l have seen you - brave and bold trader

if l owned a hat would take it off to ya

salute
thanks for your appreciation .... i'll consider myself a pro when i'll realize my objective of being able to quit my day job, go trading independently and achieve consistent profitability.

Until then i am at the backseat ..watching the pros, like you, play the market.

cheers
  • #1,329
  • Sep 21, 2010 3:49pm Sep 21, 2010 3:49pm
Quoting redsword11
got stopped


re entry on demand zone lower



Attachment
Red,
once price reach the demand zone do you wait for it to start rounding up before you place you buy or use advance limit orders in the demand/supply zone as well.?
  • #1,330
  • Sep 21, 2010 3:49pm Sep 21, 2010 3:49pm
Quoting MktScape
thanks for your appreciation .... i'll consider myself a pro when i'll realize my objective of being able to quit my day job, go trading independently and achieve consistent profitability.

Until then i am at the backseat ..watching the pros, like you, play the market.

cheers
nope - don't discount yourself, you have held many better trades than me


good and well traded dude
  • #1,331
  • Sep 21, 2010 3:52pm Sep 21, 2010 3:52pm
Quoting MktScape
Red,
once price reach the demand zone do you wait for it to start rounding up before you place you buy or use limit orders as well.?

use limits rarely


limits are a means of removing emmotions - once you work your RR limits do make sense but @ demand l want to SEE bullish enguilfing and @ SUPPLY l want to see bearish enguilfing
  • #1,332
  • Sep 21, 2010 3:56pm Sep 21, 2010 3:56pm
Quoting redsword11
use limits rarely


limits are a means of removing emmotions - once you work your RR limits do make sense but @ demand l want to SEE bullish enguilfing and @ SUPPLY l want to see bearish enguilfing
ok so let say your setup is on M30 TF do you want to see a engulfing candle on the same TF or you would go down to M15 for that .. i mean would you go for to a smaller TF to see that ?..if yes then by how much?
  • #1,333
  • Sep 21, 2010 3:57pm Sep 21, 2010 3:57pm
Quoting redsword11
Attachment


awaiting entry south - a downtrendline has developed below zone but l am not taking early entry


will wait for prices to rally into zone


very nice price structure on the left and prices on the right are reacting well to this supply

its reacting ..........
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  • #1,334
  • Sep 21, 2010 3:59pm Sep 21, 2010 3:59pm
Quoting MktScape
ok so let say your setup is on M30 TF do you want to see a engulfing candle on the same TF or you would go down to M15 for that .... i mean would you go for to a smaller TF to see that ...if yes then by how much?

this is a discussion - this is trader dependant - its what you are comfortable with - as the tf gets bigger the RR decreases in most situations

trader decides with his/her personality in trading
  • #1,335
  • Sep 21, 2010 4:04pm Sep 21, 2010 4:04pm
this is where PRICE STRUCTURE is important - if its very clean and defined on the left prices on the right react well and clean on the right


the rules of entry are given to us by the market - you can't have a set of rigid rules when the market varies as it does

this has always been an issue - rules work when the PRICE STRUCTURE on the left is a certain way but when it varies the rules have to be amended - this is price reading as Price is everything
  • #1,336
  • Sep 21, 2010 4:20pm Sep 21, 2010 4:20pm
Quoting redsword11
its reacting ..........
Yes it is i have entered my order.
  • #1,337
  • Sep 21, 2010 4:22pm Sep 21, 2010 4:22pm
Quoting redsword11
this is where PRICE STRUCTURE is important - if its very clean and defined on the left prices on the right react well and clean on the right


the rules of entry are given to us by the market - you can't have a set of rigid rules when the market varies as it does

this has always been an issue - rules work when the PRICE STRUCTURE on the left is a certain way but when it varies the rules have to be amended - this is price reading as Price is everything

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an example of what l mean on a very difficult pair


defined on the left - the right reacts in a defined manner
  • #1,338
  • Sep 21, 2010 4:26pm Sep 21, 2010 4:26pm
would you consider the higlightted area as demand zone ... looks like a clean move up?
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  • #1,339
  • Sep 21, 2010 4:29pm Sep 21, 2010 4:29pm
Quoting MktScape
would you consider the higlightted area as demand zone ... looks like a clean move up?

thats would be your 2/3 tg, because its been tested twice already demand may have been consumed from that level so let the 1/3 run to lower demand and leave stop in its original postion and with this ratio - you will always be
+1/3 and stress free and not taken @ breakeven
  • #1,340
  • Sep 21, 2010 4:37pm Sep 21, 2010 4:37pm
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