Trading With Limit Orders

Hey Dragan,

Ready for the week?

I'm confused by your levels are they SD levels or SR?

I opened a sub account for an experiment. I'm curious about identifying the previous day's 5m SD levels (possibly tightening them up with 1m when needed) and taking longs when we're above last weeks close and shorts when we're below.

I want to find where the most recent stack of orders is. It will be important to pay close attention to :

A: Time spent at level (needs to be minimal)
B: Move away from level (needs to be far and fast)
C: First time returning to the level

Not sure about the previous week's close as a filter.

Any opinions?

sd levels i think

im gonna be testing with going against the herd by looking at oanda and etoro openpositions and always go against them,with some chart analysis

i have no idea where its gonna go ,testing a new volcanoguppy idea with simple moving averages and smoothed ma,the smoothed moving average should always come in one when it goes the other direction,use this in 5m noise,simple should go in front of smoothed as a direction lead,
smoothed take time to show where they are going,

http://www.danielstrading.com/resour...ng-average.php

for ur m5 analysis have a look at this thread
http://www.forexfactory.com/showthread.php?t=80290

Really busy with school and work. Typing a paper now, but here's a quick chart.

The gray boxes are weekly levels the yellow zone is daily demand. I plan on trading to that yellow zone, I hope I don't get burned trying to short into demand!!!

looks like we are against each other ,im short usdjpy and buy gbpusd,

have a look at oanda open posiitions majority are sell for gbpusd and buy usdjpy bur usdjpy has shows a burj dubai and its top and looks like its heading down,even malcolm thinks gbp is strenghtening

testing supply levels

Here's a 4h of the dollar. We're revisiting the 'ol daily supply level. Last time we were here I was expecting us to reach the gray weekly level above, are we going to go there now or is there enough supply here?

c

i was loosing -85/sl100 on uj yesterday i taught i was gonna be stopped out,but gu hit tp100,uj is down 65

stopped exactly at the supply level,if it goes further i reckon bull,but next week will be choppy i reckon

There was tons of supply, and eur/usd rallied and murdered all of my sloppy shorts I posted earlier. If you look back you'll see that I had a short at every minor supply level. That was really stupid, I lost all of them and am still in the last short for that area.

ye i made a pretty bad decision this week as well,mostly my inexperience to blame,i said that the eurusd is gonna go up,and didnt wanna risk it on getting into eurusd,so i got into gold instead because it always goes up,fuk i lost 25$on sl,if i got eurusd i could have piped 30$ mannnn,next time,im getting into what i forecast,no more dumm mistakes

I've been reviewing my last set of orders and I'm shocked that I placed an order at every single minor level. I learned a very important lesson.

From a long term (20+ years) perspective it's way better to only place your orders at quality levels even if that means no trades for the week. The high of the day friday was 1.3457 and that was where my stop was on my last short.

My motivation for placing my orders at every level was because I simply wanted to be in a trade, and that motivation is very dangerous. I should not be so concerned about "not missing a move". I need to keep myself focused on what's important: only placing orders at areas that have demonstrated a clear imbalance of supply and demand. That is my "new" strategy.

That being said here is my order.

Looking to the left of price, I've circled the two immediate SD levels. Compare the way price left each of the levels: the supply level threw price down in a straight line for a long distance. The demand level is defined but the reaction wasn't nearly as strong as that supply level.

Price may never make it to that supply level, but it is the highest probability place for a limit order. Taking from the lesson I've re-learned; it is better to miss a trade that wasn't high probability than to loose a bunch of trades because you wanted to be part of the move.

If you only make one or two trades per month (provided they're high probability trades) you can still make tons of money, provided you have a six figure account. I don't have a six figure account yet, but I will be working on it. When I graduate and start work I've already told my lady a couple years ago that I would not be looking for an expensive place/nice car etc. I'm going to be eliminating debt and building my trading account.

Classes are really cool this quarter.

The trading class is alright, at this point most of what we've done is statistics based on portfolios. I'm looking forward to the stock valuation part because I've always been baffled at how people think they can predict the price of a stock a year from now based on fundamental info.

The "Case Prob in Financial Planning" is a really cool class. We just go over (in extreme detail) different cases regarding families and their financial situations. No exams, no HW, not even a book! But I would say that it's my most valuable class considering I'm going to be a financial planner.

The other class is a bit of a mystery to me at this point. It is once per week at night, and I missed the first week because of work. The second week's class was canceled due to a blizzard, so essentially I've missed 2 weeks worth of classes! BTW that class is Estate Planning, which is basically a class about how to handle someone's assets when they die, which is a kind of grim topic to say the least.

thats easy,just short the stocks that are in big lawsuits,for example haliburton was in a big lawsuit 2b,that lawsuit was for a company they merged with or acquired,(one of the those2) but that lawsuit went to 5b because if the company they acquired was supposed to go broke,because of the lawsuit ,so the govenrment said if u want to keep it alive pay up 5b,.and they did,the price of share was plummeting that year in 2001,on the day of the lawsuit,halliburtons share price plummeted from 30 to 12

goes something like that
but for more here in this link
http://money.cnn.com/magazines/fortu...7012/index.htm

im not sure if u can recommend shorts,but u can do that on a personal account,or u can become a stock broker,in wall street warriors i saw that some brokers call rich people over the phone and try to get them to open up accounts for them,and thats how they earn a living,u could do that easily,10-30 accounts every week,and ull be on a horse

in here u can advise people to buy bonds on this city,obviously not 30 year ones,but 5 year and tbill and all that shorterm crap,junk bonds...
http://www.forexfactory.com/showpost...postcount=3764

its just gonna rise up

one mans suffering is another mans gold

Hey dragan,

When it comes to stocks I'm not going to be recommending shorting anything. My time horizon for most clients is going to be 20+ years. I have no interest in trading for my clientele, I'll be more focused on diversification of long time-frame portfolios as well as many other things including tax, insurance, and estate planning.

I watched some of Wall Street Warriors. I'd much rather relax in my office as a FA than to be like one of those twat brokers trying to take advantage of others as a result of their own lack of worth. I feel really bad for those guys they have no clue.

As a FA I'll basically have my own office to myself with my own secretary. People will come meet with me regarding their accounts and I will help them meet their personal financial planning goals. Each morning I will manage my own (hopefully multi-million) positions. With a huge account size you only need one trade per month.

Here is a GBP supply level with a short pending order.

Price was there briefly before moving south with some force. Also, price has not returned to that level yet, and we are at longer term supply. My order might not get filled (just like my EU short) but it is the highest probability trade on the chart and therefore is the only place I'm willing to risk $.

I might not get any trades all month but at least I know that my orders were placed properly. Remember we're thinking long term.

good luck in ur dream job,i wouldnt trust stocks much,maybe only berkshire hathaway,but they are in the lot as well,

goldman sounds a bit like enron,with accounting frauds and it being 25%of the stock market volume,with its bots trading

im looking at eurusd1h ,and i dont see any massive exchange of hands,only some ,which they lifted up,
my guess is that they are gonna lift the price up more and when i see narow spred bars,and congestion,and finnaly an upthrust ill short it

have u seen wall street2.maybe u can become a fund manager like bret and even better invest for people,yaed invests for people,and thats pretty cool

Stopped on my EU because my stop was too tight, sloppy. I'm still in gbp short.

This is more like a journal than a trading discussion so I'm headed over to the journal section.

New thread

http://www.forexfactory.com/showthread.php?t=276918