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Trading With Limit Orders

  • #281
  • Dec 21, 2010 11:42pm Dec 21, 2010 11:42pm
My loss was caused from what i though was a wyckoff botom of eurusd adn it wasnt
  • #282
  • Dec 22, 2010 8:42am Dec 22, 2010 8:42am
Regardless of how you look at the market, it might help to try to trade the same way every trade for months (live or simulated- not looking back).

Then you can look at each week and your over all profit, because a loss can be discouraging, and the best way to move forward is confidence through repetition and a trust in your methods.
  • #283
  • Dec 22, 2010 4:12pm Dec 22, 2010 4:12pm
Quoting frankkn
Regardless of how you look at the market, it might help to try to trade the same way every trade for months (live or simulated- not looking back).

Then you can look at each week and your over all profit, because a loss can be discouraging, and the best way to move forward is confidence through repetition and a trust in your methods.
i traded a simulated account a month ago,and had about 5 acccounts and were all proftible even the ea accounts were,hehe,now in 3 weeks i made 200 pips,this week i lost 100 on eurusd,but i regained 50 again.now 30 on usdcad in plus

so as james16 said in our 3 rd stage well be loosing and winning but winning more,and well find our strategy that suits us,then stage 4 and 5

how long have u been trading frannk
  • #284
  • Dec 22, 2010 9:34pm Dec 22, 2010 9:34pm
Quoting dragan53
i traded a simulated account a month ago,and had about 5 acccounts and were all proftible even the ea accounts were,hehe,now in 3 weeks i made 200 pips,this week i lost 100 on eurusd,but i regained 50 again.now 30 on usdcad in plus

so as james16 said in our 3 rd stage well be loosing and winning but winning more,and well find our strategy that suits us,then stage 4 and 5

how long have u been trading frannk
I've only been trading with real money for about nine months or so, but for about 2 years prior (30-40 hrs/week), I traded EU and the /es on demo until I had consistent profits. I've invested with real money profitably for years (and with some client's money for a summer internship) but that's different than trading. I took my demo trading seriously, but if I were to change one thing it would be to have used real money sooner.

I don't like to keep track of my profits in pips because for my style of trading $/pip is going to vary from trade to trade.

I'm very much looking forward for the real money to hit the market this January.

I wonder when the best time to get back in the markets? Have you traded this week?
  • #285
  • Dec 23, 2010 12:28am Dec 23, 2010 12:28am
Quoting frankkn
I've only been trading with real money for about nine months or so, but for about 2 years prior (30-40 hrs/week), I traded EU and the /es on demo until I had consistent profits....
lucky 4 u that u were protible,i traded from march last year in real account and lost it all,now since i went to ff,i learned so much ,i couldnt thank everyone enough on ff for sharing so much ,i put it my 2nd deposit 2 months ago,its been good since then,

ye i traded this week,3 trades,yestrday night eurusd short 25 pips,and usdcad this morning i closed at 30 ,that eurusd loss -100 sl woke me up on TUESDAY to to try trendlines,and sr and they work !!!,even todd gordon said it was going down,hes on a roll ,6/6 in 3 weeks,fak,if i listed to him ,i probably wouldnt go back to my system that i started with years ago,but back then bad charts and platforms kept me from it,but mt4 is simply the best,everything u can wish for

i started reading mtm,19page now,i thought its gonna be more complex ,its simpler than i thougth

the method im traading with now is identifying antennas on usdjp usdcad and other volatile ones,and shorting them.and picking up support, for eurusd im gonna go with moving averages after january when i comes back to normal

i tried a moving average ea,and it worked so good,i tweeked it a bit,it made about 3700 from 500 in 6 months,i based that ea on my moving average method,which is only good on eurusd 1h chart at normal time,unlike december,
the ma is smoothed 9,18 ,
and listening to todd gordon if he shows up good,
,im not gonna trade next week,january 3,start again ,this is just too illiquid,forexlive says only the pits are active,lol they are gonna go on holiday too,

all the best frankn,porkpie,collect pips and others,,merry christmas hehe
  • #286
  • Dec 23, 2010 10:05am Dec 23, 2010 10:05am
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lucky 4 u that u were protible

Hm I could have easily gone live years earlier, but patience and discipline helped me wait until I was profitable (not luck).

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25 pips

Do you trade the same $/pip every single time?

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its simpler than i thougth

Yep it's very simple. The markets move on supply and demand and it's not that hard to get the picture.

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merry christmas

To you too man. I still have all my xmas shopping to do. My paycheck was supposed to be here yesterday I hope it's here today, all my bills are due as well as rent and gifts

Quote
ma

I love how beautiful moving averages are. I occassionally look at the weekly or daily 5/12 cross but I don't really base my trades off of it. When those MAs cross on the weekly, price will tend to move in that direction for at least several weeks. I was dreaming about this last night actually strange you should mention it, I was taking S/D zones with the weekly trend as defined by the 5/12 MAs. This would probably be cool as long as you marked up the weekly levels so you don't trade into them. I would love to hear opinions on this.

Looking forward to Jan 3rd for sure!
  • #287
  • Dec 23, 2010 4:19pm Dec 23, 2010 4:19pm
Quoting frankkn
Hm I could have easily gone live years earlier, but patience and discipline helped me wait until I was profitable (not luck).



Do you trade the same $/pip every single time?



Yep it's very simple....
hehe,i might come with an opinion for this after i finish mtm,


no i take the 30 pips because i always miss out on big moves and in panic,my new money managemetn strategy will be to buy 2x 1lot ands sell at different levels ,,usdcad is down,dammit,t coulve had 90 by now or 9$,im gonna start doubling my lot now.or maybe its better if i just stay longer,ill stay longer,cant gamble with 30% of my account,

fxcm is on holiday next weeek ,hm,it should be with other brokers too

HO-HO MARRY CHRISTMAS


http://moldychum.typepad.com/moldy_c...sexy_santa.jpg
  • #288
  • Dec 23, 2010 8:59pm Dec 23, 2010 8:59pm
Here are some levels on USD. This is a daily and I've tossed on the 5/12 emas because they're pretty attractive. I think these are a reasonable way of defining trend but I wouldn't pay much attention to them on anything less than a daily but that's just because of my longer term outlook.

What's important here is the levels check em out.
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  • #289
  • Dec 23, 2010 9:05pm Dec 23, 2010 9:05pm
Quoting frankkn
Here are some levels on USD. This is a daily and I've tossed on the 5/12 emas because they're pretty attractive. I think these are a reasonable way of defining trend but I wouldn't pay much attention to them on anything less than a daily but that's just because of my longer term outlook.

What's important here is the levels check em out.
up greens,and up reds,thats going down,itt looks like a forming congestion
  • #290
  • Dec 27, 2010 9:16pm Dec 27, 2010 9:16pm
Hey everyone, I'm very tempted to place orders this week. I'm sticking to my guns however, so still waiting for January 3rd.

I'm curious about using this 5/12 ema cross to help define weekly and daily trends. If they are in agreement, it would make sense to look for 1h/15m supply and demand zones in that direction what do you guys think?

Here is EU first is weekly, then, daily, then hourly with supply levels.
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  • #291
  • Dec 27, 2010 10:25pm Dec 27, 2010 10:25pm
i have no idea,im off indis,only vsa template 4 me,

i heard that tradeguider uses 20 ma for the diamonds,i found some diamonds similar to that but its not the same,its mt4 btw u wouldnt need it,
  • #292
  • Dec 27, 2010 11:44pm Dec 27, 2010 11:44pm
how cool is this old melody

i think it was used in starwars
Inserted Video
  • #293
  • Dec 28, 2010 8:02am Dec 28, 2010 8:02am
Here is a daily with blue weekly supply and demand, with circled daily levels.

My plan for 2011 is:

 

  1. Box weekly levels
  2. Circle daily levels
  3. Mark 15/30/60 minute supply and demand zones
  4. Trade towards and away from levels, not into them
  5. Observe a couple moving averages on daily and weekly charts and take note of how demand zones in an uptrend perform vs supply zones in an uptrend and vice versa
  6. Use the same position size on all trades
  7. Possibly go for 1:3 if the trade is with daily/weekly trend and 1:2 if against (not sure on this one, still thinking about it)
  8. Don't interfere with a trade once it's filled

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  • #294
  • Dec 28, 2010 8:58am Dec 28, 2010 8:58am
Quoting frankkn
Here is a daily with blue weekly supply and demand, with circled daily levels.

My plan for 2011 is:
[list=1][*]Box weekly levels[*]Circle daily levels[*]Mark 15/30/60 minute supply and demand zones[*]Trade towards and away from levels, not into them[*]Observe a couple moving averages on daily and weekly charts and take note of how demand zones in an uptrend perform vs supply zones in an uptrend and vice versa[*]Use the same position size on all trades[*]Possibly go for 1:3 if the trade is with daily/weekly trend and 1:2 if against (not...

Hi Frankkn

I like this.

Here is one thing I am thinking of doing.

Take only countetrend (against daily trend) with 4h or higher S/D zones.

What do you think?

Rufus
Illegitimi non carborundum - Noli pati a scelestis opprimi.
  • #295
  • Dec 28, 2010 9:45am Dec 28, 2010 9:45am
Quoting Rufus
Hi Frankkn

I like this.

Here is one thing I am thinking of doing.

Take only countetrend (against daily trend) with 4h or higher S/D zones.

What do you think?

Rufus
What's up Rufus.

That sounds like a cool idea, because in addition to possible orders in that area, trend traders are going to be taking profit there. It sounds dangerous, but as long as the supply/demand level is a quality one and you don't get too greedy with your r:r it should be cool.

I'm trying to decide for myself where I stand on that. Is it better to use them as a no trade zone, or is it better to trade from them? Guess it comes down to the specifics of the situation ie quality of the level.
  • #296
  • Dec 28, 2010 6:14pm Dec 28, 2010 6:14pm
Quoting frankkn
What's up Rufus.

That sounds like a cool idea, because in addition to possible orders in that area, trend traders are going to be taking profit there. It sounds dangerous, but as long as the supply/demand level is a quality one and you don't get too greedy with your r:r it should be cool.

I'm trying to decide for myself where I stand on that. Is it better to use them as a no trade zone, or is it better to trade from them? Guess it comes down to the specifics of the situation ie quality of the level.
I probably should have also said that those against trend on 4h would mot be a limit order. I would have to see it happen. You are right it could be risky.

Rufus
Illegitimi non carborundum - Noli pati a scelestis opprimi.
  • #297
  • Dec 29, 2010 12:00am Dec 29, 2010 12:00am
looks like buying interest,still supply in the market,what i read in mtm this is a test,if it goes down,itll hit support and hit demand,i think they are absorbing supply
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  • #298
  • Dec 29, 2010 4:32am Dec 29, 2010 4:32am
hey frankn u know that this is not actually real volume,the volume that we get in fx is the volume of the broker,not the actual market,so i dont see a way how volume can be used in trading anymore,since its decentralised,

aka,smart money professionals are 85% of the market and we are 15%,so we dont see their volume only ours,i still dont know how we can use this in trading,

maybe by looking at the candles and patterns

help me out,tell me soemthing i dont know,since i just found this out

man im allover the place
  • #299
  • Dec 29, 2010 8:08am Dec 29, 2010 8:08am
Quote
hey frankn u know that this is not actually real volume,the volume that we get in fx is the volume of the broker,not the actual market,so i dont see a way how volume can be used in trading anymore,since its decentralised,

It's tick volume, and is still applicable. If you read MTM you will remember TW mentioning that when you don't have access to conventional volume you can use tick volume instead.

I would only use IBFX and FXCM tick volume, and in addition I would only use time frames less than 1 hour.

If you notice I use futures volume when I look at volume anyway. Volume plays a lesser role in my analysis these days because instead of watching for those orders hit the market, then waiting for SM to test the area and looking for lack of interest in the original direction (before price got to the stack of orders), I am simply placing (or attempting to) place my order with the stack.



Quote
maybe by looking at the candles and patterns

Think back to those principles outlined by TW in that video. I think he says that there are 6 of them but it's really more like 3 if you don't have different names for them at tops and bottoms (i.e. no supply bar v no demand bar, or buying climax v stopping volume)
  • #300
  • Dec 29, 2010 8:14am Dec 29, 2010 8:14am
Quoting dragan53
looks like buying interest,still supply in the market,what i read in mtm this is a test,if it goes down,itll hit support and hit demand,i think they are absorbing supply
Think back to those principles TW laid out in a matter of minutes in the second video from the link I posted.

The only reason you have volume on your chart it to decide if it is in one of three states:

1) Ultra high = professional side of the market is active
2) Volume lower than the previous two bars, closing up if showing up after buying climax or closing down if showing up just after stopping volume. Step 1 has to occur first.
3) Normal volume


That being said, I believe it's only to your disadvantage to try to decipher more information by adding another version of volume and covering your bars with words and things.

But that's just because I like to keep it very simple.
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