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Romancing the Price

  • #21
  • Apr 11, 2011 5:41am Apr 11, 2011 5:41am
The Master himself... thanks for stopping by Red.

Quoting redsword11
in the spirit of traders help traders


best regards
  • #22
  • Apr 11, 2011 5:49am Apr 11, 2011 5:49am
Quoting KennyZ
thanks for stopping by Alex... your inputs are invaluable. i have watched your video on youtube.. it's a marvelous idea and marvelous execution.. well done

i certainly like to add your vid here and like to add all your future ones here on this post. please don't forget to alert me as and when you post new ones. i'm not that good on tech front. hope this embedding stuff works... let see if i can do it..


[YOUTUBE]Kn26LmZXwRA[/youtube]...
Sure, im not sure but i think you just need to copy paste the link out of the tabbar:

Inserted Video


In this case i just posted:
Inserted Code
http://www.youtube.com/watch?v=Qji9tqoLmdw
(without the code tags, jsut the url).

Ill probably do some more ov these videos but im really tired, took out 2/3s at +26 on that trade just letting the remainders run.

Plus everytime i see someone posting elliot wave analysis my fucking head just explodes in rage.

Ill try to incorporate as many of reds techniques in detial in the future videos, this one (as i mention red directly in this movie) includes the taking 2/3 out strategie to maximize gains and minimize losses when unsure whether to let something run or not.

Kind regards,
Alex
  • #23
  • Apr 11, 2011 6:47am Apr 11, 2011 6:47am
Sometimes I get asked about indicators. I'll post requested (if I have and using them) or the ones I think may be of use here. I myself mainly use informational indies. I do not know any indicator that can provide high probability trade signals other than price itself.

My humble recommendation is never base your trade solely on indicator/s. Instead watch the price and learn the main dynamics of price: Supply and Demand.

For quick and easy pinpointing 3 levels of highs and lows you can try Chaos Semafor below..
Attached File(s)
File Type: mq4 Chaos Semafor - 3_Mod.mq4   13 KB | 4,029 downloads
File Type: ex4 Chaos Semafor - 3_Mod.ex4   11 KB | 2,768 downloads
  • #24
  • Apr 11, 2011 8:36am Apr 11, 2011 8:36am
Excellent PDF kenny...thanks for putting that together and sharing it.
  • #25
  • Apr 11, 2011 9:41am Apr 11, 2011 9:41am
i just notice one of Red's eu trade in "Prices is Everything" thread, which lends itself as a perfect example of supply & demand PA trading... damn he got it with such an accuracy it just amazes me.

First chart is Red's one and second one is my regenerated Red's chart. i noticed 3 demand zone but none of them hold. I really tempted to go long in zone 3 but i was busy with learning.. tell you to truth i didn't notice Red's demand zone...

perhaps masters can throw some light into as to why zones i marked didn't hold/weren't valid?
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eu_14r.gif Size: 95 KB
Click to Enlarge Name: eu_14k.jpg Size: 106 KB
  • #26
  • Apr 11, 2011 9:48am Apr 11, 2011 9:48am
Quoting Orbital
Sure, im not sure but i think you just need to copy paste the link out of the tabbar:

http://www.youtube.com/watch?v=Qji9tqoLmdw

In this case i just posted:
Inserted Code
http://www.youtube.com/watch?v=Qji9tqoLmdw
(without the code tags, jsut the url).
.....
thanks a lot Alex.

as always your helps appreciated greatly...
  • #27
  • Apr 11, 2011 11:07am Apr 11, 2011 11:07am
Sam Seiden doesnt look to wait for confirmation (candlestick formations), but he uses limit orders at the supply/demand levels. What do u think about that?
  • #28
  • Edited 12:54pm Apr 11, 2011 12:43pm | Edited 12:54pm
it's a matter of style, risk appetite and deep understanding of supply and demand levels. besides Sam Seiden has much more experience and knowledge than us to recognize high probability supply and demand levels.

taking a trade on s&d zone hit certainly will bring higher rewards (when it holds) but in my case i'm not on that level to pinpoint s&d zones that usually holds.


Quoting alter
Sam Seiden doesnt look to wait for confirmation (candlestick formations), but he uses limit orders at the supply/demand levels. What do u think about that?
  • #29
  • Apr 11, 2011 2:22pm Apr 11, 2011 2:22pm
my take on why first 3 levels didn't hold. i put my views on the chart..

damn.. now, i appreciate even more the meaning of:

Price is Everything


Quoting KennyZ
i just notice one of Red's eu trade in "Prices is Everything" thread, which lends itself as a perfect example of supply & demand PA trading... damn he got it with such an accuracy it just amazes me.

First chart is Red's one and second one is my regenerated Red's chart. i noticed 3 demand zone but none of them hold. I really tempted to go long in zone 3 but i was busy with learning.. tell you to truth i didn't notice Red's demand zone...

perhaps masters can throw some light into as to why zones i marked didn't hold/weren't valid?
Attached Image (click to enlarge)
Click to Enlarge Name: als01.gif Size: 50 KB
  • #30
  • Apr 11, 2011 2:26pm Apr 11, 2011 2:26pm
Quoting KennyZ
my take on why first 3 levels didn't hold. i put my views on the chart..

damn.. now, i appreciate even more the meaning of:

Price is Everything
Very good. Thanx Kenny!
  • #31
  • Edited 6:15pm Apr 11, 2011 6:05pm | Edited 6:15pm
Quoting KennyZ
my take on why first 3 levels didn't hold. i put my views on the chart..

damn.. now, i appreciate even more the meaning of:

Price is Everything
My thought why zone1&2 are failed is because these zones have been visited multiple times especially zone 1-its risky to be regarded as a demand zone

about zone 3, PA has lots of lower wicks that help consume the demand orders, like a timber being chopped many times then gives way.....

one thing may be worth to draw attention is that Red's zone is around 20, EU sometimes use "sweet number" 00, 20, 50, 80 as barriers

my 2 pips

Homer
  • #32
  • Apr 11, 2011 7:53pm Apr 11, 2011 7:53pm
nice one homer.. thanks for your input.. appreciated

yes, fresher a zone is better. i didn't notice lower wicks.. there is been some demand consumption. silly me.. how could i miss that.

i don't give much attention to pre-defined blocks of moves but indeed it may be worth noting.


Quoting homersimpson
My thought why zone1&2 are failed is because these zones have been visited multiple times especially zone 1-its risky to be regarded as a demand zone

about zone 3, PA has lots of lower wicks that help consume the demand orders, like a timber being chopped many times then gives way.....

one thing may be worth to draw attention is that Red's zone is around 20, EU sometimes use "sweet number" 00, 20, 50, 80 as barriers

my 2 pips

Homer
  • #33
  • Apr 12, 2011 1:41am Apr 12, 2011 1:41am
Here's a, imo, very useful adaptive non-linear channel tool, that goes really well with Kenny's Chaos Semafor. Enjoy!
Due to FF's copyright policy I will post a link to it, instead of including the indi here.

http://www.forex-tsd.com/383568-post41.html
  • #34
  • Apr 12, 2011 7:48am Apr 12, 2011 7:48am
I use to operate couple of retail shops. For me suppliers meant wholesalers and distributors. However, in markets I need to look at it in point of market. Due to this background, I have made some mistakes when labeling Supply & Demand zones, even though I knew what a supply zone represented.

In order to simplify things for myself, I will use Sellers and Buyers instead of Supply & Demand or Resistance & Support etc... Just like Sell & Buy instead of Ask & Bid.

Now, All we have to do is locate big buyers and sellers on our charts and join them...

have a good one...

ken.
  • #35
  • Apr 12, 2011 10:02am Apr 12, 2011 10:02am
One of the real cool trader I come across on Forex Factory is bbakker. With bbakker you won't find any BS.. Solid trades. I'd recommend to read his posts to learn further as and when you have bit of time.

Here is one of his answer to a user newark18:

- Would you be targeting the first supply zone or second one?

"We have already visited the first supply zone once and had a reaction of it. As we are approaching, it will be the second visit. The more times it visits a zone, the more demand or supply will be consumed.

To become a successful trader, you need to become a consistent trader. Therefore, you need to have some rules in place on how you will take the trade depending on how many times it visits a demand or supply zone. I know some traders will only ever take it once and therefore their rules stipulate to take the second zone. Other traders will take the first zone until it breaks, but on second and subsequent visits, they need to see confirmation of m5 or m15 first before taking the trade. Therefore, you need to formulate your own rules that will suit your style of trading.

Every person is different and YOU need to find out what works for YOU. This can only be done through experience and screen time, two factors I still lack at this point of time, but I am getting better!" - bbakker

Take a look one of his chart (silver) with explanation attached below. It may be just a chart but it contains valuable analysis we all can learn from it.
Attached Image (click to enlarge)
Click to Enlarge Name: bb_SLV_m5.png Size: 71 KB
  • #36
  • Apr 12, 2011 10:29am Apr 12, 2011 10:29am
Quoting KennyZ
I use to operate couple of retail shops. For me suppliers meant wholesalers and distributors. However, in markets I need to look at it in point of market. Due to this background, I have made some mistakes when labeling Supply & Demand zones, even though I knew what a supply zone represented.

In order to simplify things for myself, I will use Sellers and Buyers instead of Supply & Demand or Resistance & Support etc... Just like Sell & Buy instead of Ask & Bid.

Now, All we have to do is locate big buyers and sellers on our charts and join...
simple explaination and very clear.keep all secrets here.
Gold Expedition Return This Year: -16.4%
  • #37
  • Apr 12, 2011 10:54am Apr 12, 2011 10:54am
nice to see you here budak... thanks for dropping by

don't be a stranger


Quoting budak baru
simple explaination and very clear.keep all secrets here.
  • #38
  • Apr 12, 2011 11:33am Apr 12, 2011 11:33am
hindsight overview of one of my live trading eurusd, which i posted on Red's "Price is Everything" thread.

i sold after seeing one big bad az red candle (the second engulfing one - hh) with a fairly tight sl. I marked my targets with lines for mental reference. it went my direction few pips and moved sl @be.

when it hit target1 i closed half with +19p and let remaining run.. moved sl @be+5

my sl @be+5 eventually hit and i was out..

now when we look at the eu chart, which hit my ultimate target(tg3) comfortably, i know some of you may be saying, i should've left my sl @be

i follow pirates rule, only when trading.. "take whatever you can and give nothing back" or something like that.. it's true, a lot of the time i end up with less pips than full potential but that's ok by me. my main objective is not to make huge amounts of pips but try to avoid losses or keep my losses to minimal... so my trade management is focused on losses not profit... after all i'm not a greedy person... all i want from markets just $200 mil...

i don't think there is wrong or right way to trade... we all need to make a trading style our own.. as long as there is some consistent profits...

have a good one...

ken
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eu_15.gif Size: 20 KB
Click to Enlarge Name: eu_16.gif Size: 21 KB
Attached Image
  • #39
  • Apr 12, 2011 12:17pm Apr 12, 2011 12:17pm
while i was doing my previous post, i missed a eu buy trade. since there was a good momentum i bought @4477... already moved sl @break-even.. give nothing back..

let see even a late entry will produce some pips..

initial target is daily R2

with some charts sometimes i use various indicators.. i call them kind of helpers..


i see there was some big buyers at daily pivot. that was good enough for me.. additional info provided by pierced bollinger bands and RCI divergence.

if i was monitoring the chart with view of taking a trade i'd buy at around 4450 and setting first target @4480

as i type price is straggling around +5-10p area. since it's a free trade i'll wait to see if it hits the target or until i get fed-up waiting..
Attached Image (click to enlarge)
Click to Enlarge Name: eu_18.gif Size: 47 KB
  • #40
  • Apr 12, 2011 12:25pm Apr 12, 2011 12:25pm
i don't like PA... closed +6p

Quoting KennyZ
while i was doing my previous post, i missed a eu buy trade. since there was a good momentum i bought @4477... already moved sl @break-even.. give nothing back..
..
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