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Price is everything

  • #18,941
  • Jun 7, 2011 6:22am Jun 7, 2011 6:22am
I trade mainly small timeframes when there is volume to ride momentum.

I look for reversal patterns and they often are the same on small timeframes + it allows you to enter early, tighten your stops, get your pips in less than 2 hours and go do something else with your life.

But this is a lot of screen time to feel at ease with this type of trading. As always, simple but not easy.

See what suits you most. Good luck.

Quoting n0mad
hi,

quick question, i notice many of you trading off a small timeframe. Are you actually getting your levels from the lower TF or for example finding a 4hr level then going to the lower TF for price confirmation?

hopefully i can start posting charts soon as well for critique not sure how many posts i need first.
Hello.
  • #18,942
  • Jun 7, 2011 6:28am Jun 7, 2011 6:28am
This should help too. This is in today's sam article I just posted the link to.

Pasting it here cause the question has come a lot.

Hi Sam,
I have been enjoying your webinars very much and just have a question for you. When you enter trades based on daily/monthly charts at demand/supply levels, what percentage of these are winning trades? I am guessing they would be much higher than smaller time frames as there is less 'chop.'
Thanks and regards – Michael

Seiden Answer -

Typically, most people have a higher winning percentage in the larger time frames, you are correct. This is because you are only looking at daily/weekly/monthly charts and the levels are very clear. Also, larger time frame levels trump smaller time frame levels so when you find a nice demand level on the larger time frame with a significant profit margin, what is happening on the smaller time frames is not a big deal. The other way around is a different story, however. If a day trader finds a quality demand level on a five minute chart, for example, and supply looks to be much higher, that is not enough information. You still need to check the larger time frame to see where this smaller time frame setup is on the larger time frame supply and demand curve. For example, if that five minute buy setup is near larger time frame demand, that trade will typically work out very well. If, however, that smaller time frame buy setup is at or near larger time frame supply, that trade has very low odds of working. Day trading is fine and can be very profitable, you just have that extra step of looking at larger time frames so you're not blindsided.


Quoting n0mad
hi,

quick question, i notice many of you trading off a small timeframe. Are you actually getting your levels from the lower TF or for example finding a 4hr level then going to the lower TF for price confirmation?

hopefully i can start posting charts soon as well for critique not sure how many posts i need first.
Hello.
  • #18,943
  • Jun 7, 2011 6:43am Jun 7, 2011 6:43am
Thank you Keikor and Emene for your answers.

I like looking at the longer time frames down to 15 min. just need to increase my sceen time which is my issue at the moment.
  • #18,944
  • Jun 7, 2011 7:13am Jun 7, 2011 7:13am
Crude on watch.
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Hello.
  • #18,945
  • Jun 7, 2011 7:19am Jun 7, 2011 7:19am
Quoting emene
Crude on watch.
im long on crude 98.34

did u hear anything from red by the time?
Hero calls followed by margin calls...
  • #18,946
  • Jun 7, 2011 7:23am Jun 7, 2011 7:23am
Hello traders, GU making higher highs on the H1, here are some M5 levels I'll be watching.

I've never used an EA but I figured out how to use this stop to break even one, and I'm going to mess with it.
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  • #18,947
  • Jun 7, 2011 7:30am Jun 7, 2011 7:30am
Quoting n0mad
hi,

quick question, i notice many of you trading off a small timeframe. Are you actually getting your levels from the lower TF or for example finding a 4hr level then going to the lower TF for price confirmation?

hopefully i can start posting charts soon as well for critique not sure how many posts i need first.
The answer to this question reflects your belief system regarding the markets.

Personally (key word) I like to trade with the trend. The trend can mean different things, and for me I like to look at it from a couple perspectives. One is higher lows and lower highs on the H1, and if you zoom out on the M15 you can easily see which way it is trending.

Next for levels I like to identify logical areas on the M15 and refine them on M5. How I handle this depends on the behavior of the pair as well as the broader market.

There's a lot of discretion in there I'm just sharing what works for me
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  • #18,948
  • Jun 7, 2011 7:33am Jun 7, 2011 7:33am
Quoting n0mad
hi,

quick question, i notice many of you trading off a small timeframe. Are you actually getting your levels from the lower TF or for example finding a 4hr level then going to the lower TF for price confirmation?

hopefully i can start posting charts soon as well for critique not sure how many posts i need first.
doesnt matter what timeframe you are trading, you just need to adapt ranges of targets und stops, me personally dont trade the weekly ,monthly and m1. i trade m5 up to the daily.

dont hesitate to ask !

traders help traders

kind regards
Jonas
Hero calls followed by margin calls...
  • #18,949
  • Jun 7, 2011 7:52am Jun 7, 2011 7:52am
I am currently watching this, i hr and 15 min supply.
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  • #18,950
  • Jun 7, 2011 8:07am Jun 7, 2011 8:07am
Going in the right direction. Soon ending the day.

Quoting emene
Crude on watch.
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Hello.
  • #18,951
  • Jun 7, 2011 8:13am Jun 7, 2011 8:13am
eyeing AU
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  • #18,952
  • Jun 7, 2011 8:17am Jun 7, 2011 8:17am
And... pierced. Demand goes to supply. Find engulfings.

Quoting emene
Going in the right direction. Soon ending the day.
Attached Image (click to enlarge)
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Hello.
  • #18,953
  • Edited 8:33am Jun 7, 2011 8:17am | Edited 8:33am
Quoting emene
Going in the right direction. Soon ending the day.
Had crude early and then at the flag again. Im done for the day practically, just testing out some very funky trading shit on a demo account right now

EDIT: Bought GBPNZD: 2.0020 on a demo account.

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Daily demand zone, wouldnt do this on a live account because of the large amount of stops you would need, just checking some things out.
  • #18,954
  • Jun 7, 2011 8:34am Jun 7, 2011 8:34am
http://gyazo.com/657d65db436d91ac7b558ea70a7e8b46

Closed the 98.44 at 98.78 and closed 1/2 of my 98.20 at 99.15. Put the rest to BE.

Red's crew were all thinking the same thing! Sam Seiden wins!
  • #18,955
  • Jun 7, 2011 8:39am Jun 7, 2011 8:39am
Quoting Orbital
Had crude early and then at the flag again. Im done for the day practically, just testing out some very funky trading shit on a demo account right now

EDIT: Bought GBPNZD: 2.0020 on a demo account.

Attachment

Daily demand zone, wouldnt do this on a live account because of the large amount of stops you would need, just checking some things out.
Are you toying with swing trading of the daily tf...

Good man

P.S. You don't need large stops if trading of the daily... my maximum is 50 pips and usually it is around 30 pips. Just drill down to a lower timeframe to tighten stops!
  • #18,956
  • Jun 7, 2011 8:52am Jun 7, 2011 8:52am
Quoting bbakker
Are you toying with swing trading of the daily tf...

Good man

P.S. You don't need large stops if trading of the daily... my maximum is 50 pips and usually it is around 30 pips. Just drill down to a lower timeframe to tighten stops!
Yes im toying with them right now which is why im doing some demo testing first

You got any specific views on GU and AU and EU on larger 4hr/1d charts?, i hope 4650 doesnt break today, dont like that high its setup on 46803 right now, right at the top of my second supply box and sellers seem to be rushing in, i hope those fuckers get trapped until 1.49

EDIT2: Btw brian if 4650 does break.. we might well see that H&S i was talking about earlier.
  • #18,957
  • Jun 7, 2011 8:59am Jun 7, 2011 8:59am
Quoting Orbital
Yes im toying with them right now which is why im doing some demo testing first

You got any specific views on GU and AU and EU on larger 4hr/1d charts?, i hope 4650 doesnt break today, dont like that high its setup on 46803 right now, right at the top of my second supply box and sellers seem to be rushing in, i hope those fuckers get trapped until 1.49
I have been looking at this as well.

Work schedule, family schedule. Then to fit in a chunk of trading time to watch 15 and 5m charts has been a Bi$#h
Illegitimi non carborundum - Noli pati a scelestis opprimi.
  • #18,958
  • Jun 7, 2011 10:20am Jun 7, 2011 10:20am
Quoting emene
And... pierced. Demand goes to supply. Find engulfings.
Hi emene,
do you observed the level I marked on the chart? When not...why?
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  • #18,959
  • Jun 7, 2011 10:33am Jun 7, 2011 10:33am
hi all,

just sold gbp at 1.6436 with sl at last swing high around 30 pips targeting 1:1 minimum.
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  • #18,960
  • Jun 7, 2011 10:33am Jun 7, 2011 10:33am
Quoting MCFly
Hi emene,
do you observed the level I marked on the chart? When not...why?
Emene was probably well aware of that level but odds were this was more a flag based on the momentum it moved up at and where it moved up from. i bought within the flag.

Yes it was a supply level but there were no severe bearish reactions from it imo...
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