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Price is everything

  • #18,861
  • Jun 2, 2011 8:15pm Jun 2, 2011 8:15pm
took brent oil long now
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Trading is all about probability, low risk/high reward ,buy low/sell high
  • #18,862
  • Jun 2, 2011 9:03pm Jun 2, 2011 9:03pm
Quoting Orbital
Supply...
Great point, knowing the strength of a level is crucial.

My style of trading would have me looking at this chart as I've labeled. Not that the upper levels aren't trade-able, I'm just looking for 2-5 X risk on all of my trades and those are for the scalpers like Orbital.

I would look at the levels this way only if I felt the trend was up and in sync with the broader market btw.

The reason that the levels are going to give more pips (most likely) has a very simple reason, there may be fresh orders there because price couldn't stay there. You can tell because of how far and fast price moved there, and also because price didn't stay there for long.
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  • #18,863
  • Jun 2, 2011 9:10pm Jun 2, 2011 9:10pm
Quoting Orbital
Attachment

Supply did hold albeit only weakish... I have discussed these situations with red and others countless times... probably more than i would like to admit.

There are a couple of valuable lessons that can be learned from watching this chart.

1) Don't force the market, let it come to you like a drunken 17 year old girl in a club who is dressed way to slutty.

2) Many zones does not equal a lot of trading opportunity for scalping. Out of all these zones only two of them would provide a valid 10-15 pip movement or more assuming...
Great post orbital! Point #4 is something that I am always working on.
  • #18,864
  • Jun 2, 2011 9:32pm Jun 2, 2011 9:32pm
I absolutely agree with what you've said...


  • #18,865
  • Jun 2, 2011 10:55pm Jun 2, 2011 10:55pm
Quoting Orbital
Will be back tommorow and over the weekend with some more info and chart setups.
Thx Orbital, keep um coming (esp the 17 yr olds).
Good Trading
  • #18,866
  • Jun 2, 2011 11:40pm Jun 2, 2011 11:40pm
A pretty clear cut supply zone here:
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  • #18,867
  • Jun 3, 2011 12:10am Jun 3, 2011 12:10am
I like this one too

http://www.hotstockmarket.com/image/...t/500/flags/LL
  • #18,868
  • Jun 3, 2011 2:04am Jun 3, 2011 2:04am
they can run.. they can fake.. they can shake but they cannot hide..

closed all for total of 43

since they were risky kind of trades i decided to keep my exposure to limited by entering with 0.1 lots only (1 pip = $1).. promise, i won't spend it in one go

two views.. m5 and m15

i suspect they may be jerking around till NFP bs..

damn.. as i'm posting this i see they are jerking down.. i'd have sold it at that double top on m5
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  • #18,869
  • Jun 3, 2011 2:49am Jun 3, 2011 2:49am
play it again sam..

closed all for 35

still 0.1 lots...
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  • #18,870
  • Jun 3, 2011 3:10am Jun 3, 2011 3:10am
36 silver is too valuable to miss..
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  • #18,871
  • Jun 3, 2011 4:07am Jun 3, 2011 4:07am
lets collect those silvers on the way down missed on the way up due to early close ..
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  • #18,872
  • Jun 3, 2011 4:41am Jun 3, 2011 4:41am
Took this as a touch/anticipation trade.

Are trades like this suicide, or viable with RR of 3:1.

Regards
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  • #18,873
  • Jun 3, 2011 4:46am Jun 3, 2011 4:46am
Quoting mt2
Took this as a touch/anticipation trade.

Are trades like this suicide, or viable with RR of 3:1.

Regards
they work quiet often, because we are likely to see a correction in 9 / 10 cases at significant levels. PA doesnt break signif. lvls at first attempt.
Hero calls followed by margin calls...
  • #18,874
  • Jun 3, 2011 9:20am Jun 3, 2011 9:20am
Euro is in 4hr supply now, shorts on 4hr charts are Low risk now considering upside may be 200 pips for a 40 pip risk, wait for PA confirmation, otherwise wait for monday
  • #18,875
  • Jun 3, 2011 9:37am Jun 3, 2011 9:37am
In your fucking face wheat futures:

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  • #18,876
  • Jun 3, 2011 9:52am Jun 3, 2011 9:52am
Quoting Orbital
In your fucking face wheat futures:

Attachment


pips?
Hero calls followed by margin calls...
  • #18,877
  • Jun 3, 2011 10:16am Jun 3, 2011 10:16am
Quoting PhAnTi'


pips?
774.25 --> 769.00


EDIT:

Wasnt the best of trades really, took it on the breakout, also there was an awesome 1hr supply at the top i didnt have marked, but my alarmbells suddenly started ringing so just went with it. Missed so many good trades today, EJ , ECHF, UJ, etc all had amazing 1hr zones that just went touch and go... oh well
  • #18,878
  • Jun 3, 2011 10:30am Jun 3, 2011 10:30am
Quoting Orbital
Euro is in 4hr supply now, shorts on 4hr charts are Low risk now considering upside may be 200 pips for a 40 pip risk, wait for PA confirmation, otherwise wait for monday
I'm looking at about the same thing here too. Though my real target is waiting for price to reach the daily supply zone as indicated by the circle, I can see a good trade here on current supply zone with good R:R. I'm watching the H1 chart for a PA to develop for entry though.
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  • #18,879
  • Jun 3, 2011 10:38am Jun 3, 2011 10:38am
Quoting Orbital
774.25 --> 769.00


EDIT:

Wasnt the best of trades really, took it on the breakout, also there was an awesome 1hr supply at the top i didnt have marked, but my alarmbells suddenly started ringing so just went with it. Missed so many good trades today, EJ , ECHF, UJ, etc all had amazing 1hr zones that just went touch and go... oh well
how are they being calculated at weath? x10 ?
Hero calls followed by margin calls...
  • #18,880
  • Jun 3, 2011 12:12pm Jun 3, 2011 12:12pm
Quoting PhAnTi'
how are they being calculated at weath? x10 ?
Depends on if youre using futures of CFD contracts, for me its about 0.5$ per pip on a standard lot. Usually futures such as sp 500 etc are traded in ticks ( 0.25 being the smallest tick amount).
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