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Trading With Limit Orders

  • #81
  • Nov 28, 2010 5:01pm Nov 28, 2010 5:01pm
frankkn those are some very nice levels! I'll have to take a closer look when I get time later tonight. Did you have a good thanksgiving man?
  • #82
  • Nov 28, 2010 5:04pm Nov 28, 2010 5:04pm
Quoting Bluehills
Ahhh boy don't get me started postin stuff!!


WOW what a week!...
Damn dude that's awesome. My girl friend's family is from southern Ohio and when we visit we ride the quads. I'm pretty dangerous on those things to say the least (to myself and others around me). So you're getting them ready for winter riding?? Or you're hurrying because your garage is cold haha?

Sam Seiden likes to see gaps into levels on the open of the week. Since I've been trading like this I've noticed lots of gapping into levels before a great move.

I personally am wary of these lower levels. The manner in which price left the levels just isn't as impressive as the higher levels. We haven't had a decent correction in a while, so these weaker levels will require you to monitor them. I'd keep an eye on volume and PA if I were to trade these lower levels. They seem to have been playing out this past week, but I'm trying to restrain myself and focus on the further ones. It means less trades, but I feel over a period of decades will yield better and less stressful results.

I added other pairs this week and I am anxious to see how these trades pan out.
  • #83
  • Nov 28, 2010 5:07pm Nov 28, 2010 5:07pm
Quoting Bluehills
frankkn those are some very nice levels! I'll have to take a closer look when I get time later tonight. Did you have a good thanksgiving man?
Since I only got Thursday off from work I was unable to join my family in New York. My sister is hosting her first thanksgiving up there. Instead we went to Columbus to see some of Melanie's folks. I'm about to grab some fuckin stuffing right now thanks for reminding me.

How was your turkey day any awkward family situations? I am the king of those.
  • #84
  • Nov 28, 2010 5:09pm Nov 28, 2010 5:09pm
Holy shit

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  • #85
  • Nov 28, 2010 5:20pm Nov 28, 2010 5:20pm
Quoting frankkn
Damn dude that's awesome....
Well it's not a quad its a 1990 Ford Bronco II that I'm building into a capable trail rig. I bought it for about 800 bucks back in October and bought a donor Ford Ranger for the engine/tranny/rear axle for less. Engine/tranny swap is the most daunting so I did it first. I have everything swapped in I just need to remount engine accessories, hook up fuel/vacuum lines and get the electrical system sorted (the most fun part, LOL). Then we'll turn the key and see what happens! After that it's a rear axle swap, 4" suspension kit, and 33" tires! VROOM VROOM!!!

Yes, you're right about the decrease in velocity (right term?) in the EU. We'll see what happens with my trades. The totally great thing about trading like this is the kickass R:R ratio makes up for a few bad trades here or there. Not that they're bad trades.
  • #86
  • Nov 28, 2010 5:25pm Nov 28, 2010 5:25pm
Quoting frankkn
Holy shit

http://www.youtube.com/watch?v=z59gA...1&feature=fvwp

YES THANK YOU DUBSTEP SANTA!! ooooo dat wobble.......!
  • #87
  • Nov 28, 2010 6:06pm Nov 28, 2010 6:06pm
TP triggered. 1 for 1 and it's not even Monday morning! Frankkn, you're right about what Sam says regarding gaps into supply/demand. I haven't traded this way too long so it builds even more confidence to see for myself. Good to see it at work! Anyways this trade went for 3:1 reward:risk.
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  • #88
  • Nov 28, 2010 6:57pm Nov 28, 2010 6:57pm
Yo man how do you embed youtube vids? I WANNA PLAY!
  • #89
  • Nov 28, 2010 7:20pm Nov 28, 2010 7:20pm
Quoting Bluehills
Well it's not a quad its a 1990 Ford Bronco II that I'm building into a capable trail rig....
Oh shit dude you're talkin about a real vehicle lol! I thought you were talking about four wheelers. I have always wished I understood car things, seems like it would be fun and save you money.
  • #90
  • Nov 28, 2010 7:22pm Nov 28, 2010 7:22pm
Quoting Bluehills
TP triggered. 1 for 1 and it's not even Monday morning! Frankkn, you're right about what Sam says regarding gaps into supply/demand. I haven't traded this way too long so it builds even more confidence to see for myself. Good to see it at work! Anyways this trade went for 3:1 reward:risk.
Wow what a gorgeous trade! Truly one for the fridge door.

Looks like gaps are golden into zones, week after week. I'm sold!

Just copy and paste the url dude it just inserts itself
  • #91
  • Nov 28, 2010 11:02pm Nov 28, 2010 11:02pm
Hey Franklin

I am looking at this one.. Not sure what to think about dollar strength right now. But I am watching this level. If it doesn't get hit by the time I go to bed ( 2 hours into London, 2:00am for me) I think I will throw a pending order on it.

Rufus
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Illegitimi non carborundum - Noli pati a scelestis opprimi.
  • #92
  • Nov 29, 2010 11:57am Nov 29, 2010 11:57am
Hey all together,

thank you for starting this thread, Franklin.

Since i have found the principles of this method (http://www.forexfactory.com/showthread.php?t=255586 for those who are new to this) last week, it completely changed my view on the markets. While i learn the stuff Sam Seiden presents in his free webinars, i am also making my first steps in trading supply and demand zones.

I am looking forward to discuss and contribute in some way to this great thread.

best regards

sentinel
  • #93
  • Nov 29, 2010 3:46pm Nov 29, 2010 3:46pm
Hey all, just got home from work/gym.

Here's an AJ trade, I don't think I posted it as I was in a hurry. Because I was in a hurry I failed to correctly place my TP (green line). It should have been just a bit higher, and price reversed just above it. I should have placed it the same way I would place an entry--using the candle bodies of the area to the left.

In a situation like this I am willing to move my SL to BE and forget about it.

I have started using dailyfx's price alerts. Someone posted a link on the first page and it is really great, just hope I don't find out that it charges $ to use.
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  • #94
  • Edited 4:25pm Nov 29, 2010 3:50pm | Edited 4:25pm
Quoting Rufus
Hey Franklin

I am looking at this one.. Not sure what to think about dollar strength right now. But I am watching this level. If it doesn't get hit by the time I go to bed ( 2 hours into London, 2:00am for me) I think I will throw a pending order on it.

Rufus
Hey Rufus great to see you around.


The dollar index has turned at demand and is heading towards supply. That demand level on the 4h nzd might still be left over from when the /dx was heading for its weekly demand level.

Since /dx has turned I've been looking to only long the dollar, but that's not to say you can't turn 1:3 or 1:2 out of that bad boy. You may want to wait for price action confirmation

Edit:

Forgot to add you might catch a decent bounce off the circled area

http://cdn.forexfactory.com/attachme...3&d=1290961656
  • #95
  • Nov 29, 2010 3:53pm Nov 29, 2010 3:53pm
Quoting sentinel777
Hey all together,

thank you for starting this thread, Franklin.

Since i have found the principles of this method (http://www.forexfactory.com/showthread.php?t=255586 for those who are new to this) last week, it completely changed my view on the markets. While i learn the stuff Sam Seiden presents in his free webinars, i am also making my first steps in trading supply and demand zones.

I am looking forward to discuss and contribute in some way to this great thread.

best regards

sentinel
Good to have you brother.

That thread is awesome, and is where I posted that weekly /dx chart.

I started this one because I'm trying to focus purely on set and forget methodology. Also this thread doesn't have any restrictions on who can post here.
  • #96
  • Nov 29, 2010 6:54pm Nov 29, 2010 6:54pm
Quoting frankkn
Hey Rufus great to see you around.


The dollar index has turned at demand and is heading towards supply. That demand level on the 4h nzd might still be left over from when the /dx was heading for its weekly demand level.
Hi Frankkn

I was in agreement with you on this and just left it alone. The USD is showing some muscle right now. So the only way I was going to take tis position is if I could monitor it. Needless to say it hit the zone and would have resulted in a 2:1...so far. But all this was while I was at work.

Great to see your thread..Pending orders is something I am adding to my arsenal. I have already started the process for another broker to handle it to keep it completely seperate from the other things I am doing

Rufus
Illegitimi non carborundum - Noli pati a scelestis opprimi.
  • #97
  • Nov 30, 2010 10:02am Nov 30, 2010 10:02am
Here's a couple charts.

Trade was taken off first supply level. I'm looking for shorts all this week so this trade was pretty easy. My entry got barely hit. 3:1 RR. Short and sweet and I don't even have to be there! I love it!!

Second supply level has a pending order.

Last supply level is a trade I missed this morning/

Sam Seiden's doing a webinar on fxstreet today at 4EST so I'm looking forward to that. Man I can't get enough of this stuff!! BTW all my trades from this week and on forward are live so that pretty exciting. Nothing too big just $30 trades at this point. PAYCE!
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  • #98
  • Nov 30, 2010 10:17am Nov 30, 2010 10:17am
You know I think i'm sensing a common thread in this thread...

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  • #99
  • Nov 30, 2010 11:55am Nov 30, 2010 11:55am
Hey Guys,

I'm enjoying the thread. This is basically the way I've been learning to trade. It's simple, effective and the limit orders really help with fear and greed. I'll try to post charts soon.

Here's another similar take on SD trading:
http://www.forexfactory.com/showthread.php?t=206723

Bluehills: Do you have a link for the Seiden webinar today? I couldn't find it at fxstreet.

Thanks.
  • #100
  • Nov 30, 2010 11:59am Nov 30, 2010 11:59am
nice trades Blue. It seems the trend is still very strong that these smaller levels are easily profitable.
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