Trading With Limit Orders

the way i see it h1 is for long term and m1 & m5 are intraday

http://img710.imageshack.us/img710/671/chstty2.gif

http://img155.imageshack.us/img155/7562/onnect.png

historic 1h chart,vs nows 1m eurusd

Hey dragan, It's interesting to see your charts and your ideas of the market.

I'm not too big of a fan of smaller time frames because ideally, I want my methods to lend themselves to decades of trading. For myself, intraday trading isn't going to cut the mustard as my bread and butter until I'm old and gray. The spread on smaller time frames is a much larger cost over this kind of time horizon, not to mention the fact that a good trade is much more likely to be shattered by the news that is released almost every day.

I do like small time frames because volume spikes at important areas are much much more obvious.

This week reminded me of an important lesson that I'm excited to share with everyone.

I had 8 trades total, and only 3 of them hit their take profits, making a 5th consecutive profitable week but barely because of the error I'd like to share.

On my second trade ( I consider 2 LOs at the same level one trade) only one LO was filled. When I entered my orders, the LO that was filled only risked 20% of what I normally use per order, with the rest of the risk at the other LO.

I did this because I wanted the LO with the smaller stop to have a bigger size so I could get quicker profits because of the tighter TP.

I didn't stick to my plan of having them all risk the same amount, and as a result my week was not as profitable as it could have been.

Here is 4h chart of EU. The blue areas are weekly supply, and the green circles are daily SD levels.

I decided to draw in some Wyckoff channels. Traditional W channels focus on the first two major supply levels in a down trend and the first two demand levels in an up trend.

Once these points are identified, you simply draw a trend line between them. Next you duplicate the TL and drag it to the first point of demand in a down trend and the first point of supply in an up trend. Next you divide the channel in half with another copy of the TL. Wyckoff takes this a step further and subdivides each half, but I'm not going to do this as I'm just eyeballing them for fun and not for tradeable analysis.

Here's the dollar index daily.

The bollinger bands truly do a good job of adding another level to picking levels.

When the salmon colored level was reach, price was at an extreme. The gray level isn't a stretch for price, and therefore the gray level isn't an extra safe area to trade.

Bollinger bands with supply and demand is a very solid tool.

I also like using the usdlx as well as eudlx and gbpldx.

My first active trade in more than five weeks coming this sunday!

I'll be looking for a gap into this demand level Sunday.

I'm slapping some indicators onto my chart just in an attempt to add confluence to intraday levels.

I've decided that I'm going to be posting my active trading in the supply and demand thread, because this thread is about limit orders.

I think I will keep trading EU with limit orders, and maybe trade GU actively.

my tp and sl didnt hit this week i piped about 140 pips this week,110 from eurusd and the rest from interest rates ,i missed another 15 pips from nzd usd interest rate change,i took 9 pips ,but it fell 25+in seconds of announcement
i know its not great money in the interest rates,but i just love to pip,

next weeks forecast like this weeks is gonna be on elliot wave,since i dont know how to calculate elliot wave to go on todd gordons twitter and look at his forecasts,but im sceptical about eurusd,since they are both in deep shit,i dont know where it will go and its december,when traders go on christmas holidays and stuff,

heres his forecast
http://twitpic.com/3edo62

LOL @ pussy, money, weed!!! A man after my own heart! What's the point of life if you're not living the good life? Ahhh anyways, frankkn, I'll be following your trades and the Trading S&D Zones thread. Looking forward to the week.

So your week was profitable overall? Awesome.

I don't know anything about EW, have you used it consistently and profitabley?

Remember that while traders may take Christmas off, MNCs and banks are active. They don't think Christmas they think 4th Q.

Here are my orders for EU tell me what you think about em.

I know I have some shorts in there and I'm supposedly trading with direction from USD, but I think maybe as long as I'm not trading directly into an important daily/weekly level I'll be alright.

Edit:

I don't need to have a legal disclaimer explaining I'm not giving trading advice, but rather showing how I place orders do I?

Thanks Blue for sharing yet another great artist.

Cant believe there are so few views on the Wake and Bake youtube page. I had some people over last night and we got down to that shit.

no i just started,i follow todd gordons forecasts on twitter,but i have to learn the wave myself otherwise no future for me

http://kingworldnews.com/kingworldne...o_on_Dips.html
originally posted by jaywalker in videostore section,but i reckon this is useful,i odnt knowif these are promoting the euro,but it seems clear that asian central banks are buying it,and russians and chinese are dumping the dollar,russia has been buying many companies in serbia lately,dumping its dollar reserves and chinese purchased 5times more gold than last year.these are the fundementals,us bonds might go up,but the fed is buiying another 100b,which might lower the yield as lots of buying comes in

Yep I'm looking at the same areas. I was contemplating adding orders on lower TF charts but I'm wary this week of low liquidity as we approach year end so I'm going to stick with the more extreme, obvious ones. I'll still be watching levels on the H1 this week but probably won't trade any of them. I'm interested to see how price will react. Unfortunately, I won't be around tomorrow to do that as I'm gonna be out in the cold trying to get some VENISON!!! I'll be able to eye those charts in real time the rest of the week though.

I would think that big orders that can move the market would still be pending despite the holidays and year end but I don't really know such things. I'm going to go more and more into watching mode as we wind the year down anyhow though.

Yeah, inorite? Very tight beats.

one of the reasons i dont depend and dont like orders and tp much because i once had it come 1 pip away from tp,then it retraced and hit sl,madafkr,
the worst thing about this is that,i thought of this before the trade and was laughing if something like this would ever happen ,lol and it did

Attached are where I saw the supply zones are/were. May I ask: are supply zones 1 & 2 invalidated & to be ignored henceforth?

Thx.

once supply has broken they are no longer supply.

Euro is in an uptrend based on larger time frame demand supply so entry off of demand levels are the higher probability trades until around the 700 area then we might see some sell off (IMO).

Got it. Thx.

Put in another way, when we look left for supply & demand zones we stop at & don't go past price bars that we come across.

By the way, eurusd, eurjpy, audusd..... prices steamrolled past a number of supply zones lately. I thought the larger timeframe demand zones are at 1.3050-1.3078 and 1.2970-1.3000?

Cheers!

Demand zones that I got: