Ken's Continuing Successes with EO's system

Sure looks to be from what I can see there.

The only thing to watch is how close the supply levels maybe.

ken, from my heart, thanks, inspiring as always!

yes, the rule is better if the price went away for a little!!!!
I'm going to try to write a tradesheet for this S and D methodology.... in order not to loose the obvious one....

again good week end to all here

alessandro

oz trade

USDCHF trade to start my trading day.
Will see how the trade develop...

Target 1 reached

Stoploss moved to Break Even.

Second trade for the day. USDCAD this time.

Three LONG trades, 18 pips Stoploss for all of them and three targets as shown on the attached image.

The Demand Level was based viewing the big picture on the H4 and H1 time frames but getting more detail on M15 considering the way the price left the level, as shown on zoom box.

Will see how this trade develop...

nice trades , thanks for sharing .

The other two trades were stopped out at Break Even during lunch time.
At least target 1 was hit giving some profit today.

Price is hesitating too much for my intraday trading style so I´m moving my Stops to BE.

Can you explain a bit more about what you meant by the swap area? Thanks

We always have been told support becomes resistance and resistance becomes support. The swap area is where the demand for the supply that is available is bought out and then price moves higher. Or demand lags (No Buyers) and price falls below the demand level.

The swap area is the spot where this switch (swap) happens I will post a chart in a bit.

I see what you mean. Is an engulfing bar something we pay particular attention to in these regions?

I took the same trade with a PO from the 4h chart. Very good to spot the exact level zooming on a lower TF (in this case 15m).
I was wondering in fact how to do best in the entry....

I took only 2 trades with 2 different targets as in my pictures.

This morning the price is too much esitating and I decide to close with a bunch of pips...

I think that this kind of methodology is a must for PA trader, with a high degree of objectivity when you start spotting the setups...

Thank you for sharing your trades, I'm feeling better seeing we are all on the same path

Cheers Alessandro

What Traders Can Learn From Women


http://www.tradingacademy.com/lesson...mail_print.jpg http://www.tradingacademy.com/assets...amseiden75.jpg By Sam Seiden, Online Trading Academy Vice President of Education and Product Development

One fascinating realization I have come across during my years in the trading education industry is how different female and male traders can approach, analyze and trade the markets. Without offering outrageous generalizations, it has been my experience that women possess a particularly logical mindset that can give them a substantial advantage in market speculating. The trading method we employ at Online Trading Academy that quantifies the supply/demand and human behavior relationship that ultimately determines price in any market is a great example. It is based on a very objective and mechanical set of criteria. In other words, the goal is to learn the strategy and then simply follow the rules. The female mind has a much easier time doing this than the male mind, in my opinion. Here is an example of how this works. I recommended a trading idea to buy a stock once at a certain price based on anticipatory analysis, the strategy. One of my female students took the trade and did well with it, while a male student saw the trade but did not enter it. I had discussions with the two of them, and the conversations were truly fascinating – how could two human sets of eyes look at the exact same chart, be told exactly the same thing to do, exactly where to buy and sell and yet, treat the trading opportunity so very differently? For privacy purposes, we'll call them Lucy Logic and Eddy Emotion. So, here's the scenario: The stock had been declining to an area of demand from where it had recently rallied. Eddy quickly asked me what I thought of the opportunity as price was nearing entry, and Lucy did not. Eddy then asked if I thought the demand level would hold and produce a reversal, or would prices decline through it, resulting in a loss for the trade? Lucy would never consider asking that question because that question will never be answered until the trade is underway. Eddy doesn't feel the same way. But let's face it – no one on earth knows for sure if the trade will work or not until after the fact. All we can do is properly assess the odds and risk based on our simple rule-based strategy. If the odds are stacked in our favor and the risk compared to the reward is acceptable, we take the trade like a robot. When the trade was nearing our entry level, Eddy abandoned objective thought and gave into emotions that still control his decision-making process today. Lucy remained logical and objective. Instead of worrying about what may or may not happen at demand, she explained to me why a high-odds/low-risk trading opportunity was at hand. She said that sellers were now selling after a multi-day decline and into an area of demand, exactly where the consistently profitable trader would be buying, not selling. When her entry price was reached, she took the trade with a low-risk stop in place and an objective target and the trade was set. She ended up profiting nicely on the trade. Eddy never entered.
How can we all benefit from this information? It is clear to me that females, in general, don't worry all that much about things that are not in their control and this allows them to naturally focus on the objective information, which is key in successful trading. In trading, it is the objective and logical mindset that gets paid from the subjective emotional mindset. I have found that the difference between mindsets is most evident at a specific time. When a trading opportunity arises and it is time to take action, the female mindset tends naturally to execute the trade that has been planned out. At the same precise time, the male mindset tends to drift to subjective and emotional thought, which can lead to trouble. It appears that, again generally, the female mind has the naturally logical mindset needed to understand the material quickly, whereas the male mindset has difficulty keeping things simple, naturally trying to complicate the process. An example would be to constantly add subjective indicators and oscillators that can lead to trouble for any trader. What validated my thoughts on this topic are what female students and other successful male traders out there have in common. Each of them share two common traits. First, they realize the power of human emotion and that a trading plan absolutely must be followed. Second, the successful male clients I have worked with have the ability to not let subjective information enter into their brains. It is almost as if they have a special filtering process going on when they read trading books, take seminars and courses. In other words, successful male traders succeed with tools a female brain naturally possesses. Another interesting piece of evidence is something we see often at Online trading Academy. People's timing in joining our education program. In general, men tend to come to us for education after they are already trading and are having trouble and losing money. Women, on the other hand, don't even think about opening a trading account until they know everything they need to know and have a rule-based plan in place; again, a logical approach that's solid.
From my experience, men tend to be focused on trying to predict the future whereas a woman uses simple logic to consistently make the correct choice. They have the natural ability to keep things objective, simple and logical. The man tends to have trouble in these areas, which can make trading for him more difficult than it has to be. This is no different than how men and women make choices in other parts of life outside of trading. Though trading is still a career dominated by men, I would expect this to change in the future for a few reasons. First, the barrier to entry is not what it was years ago. Second, from my experience, the female mindset is likely to last longer in a trading career than a male mindset, as a woman's mindset is much more suited for the challenging task of consistently profitable trading.
Have a great day.
- Sam Seiden [email protected]

Why planning the trade using a very set in concrete set of rules is a must for most of us, To many ideas to compare and it just gives us a reason to doubt our entries.

Pick the trend off higher time charts .
Pick the A+ Supply or Demand levels
Pick a Minimum of 3 to 1 TP area
Place the PO and let IT trade.


Even a Male monkey should be able to do that.

Are You Thinking Like a Novice?


http://www.tradingacademy.com/lesson...mail_print.jpg http://www.tradingacademy.com/assets...ckwright75.jpg By Rick Wright, Online Trading Academy Equities, Forex, E-mini Futures, and Personal Trading Plan Instructor

Hello traders! This week I would like to go into the thought process we all went through when learning how to trade, and when we learned how to trust our supply and demand zones. Remember back when you were placing your first trades? All those flashing lights and wiggly lines, not knowing what in the world was going on. If you learned to trade in one of the old SOES (Small Order Execution System) shops in the 1990's, the jargon was easily as confusing. "The tick is up to 900," or "Goldy bidding INTC," or "What's the Dorfman pick?" At least in one of those shops you had people around you to ask questions! These days there aren't a lot of places you can go for live market help when you are in a trade. Sure, internet forums are out there, but do you really know if "traderJOHN123abcinDesMoines" knows what he is talking about? (My apologies to any traderJOHN123abcinDesMoines.) As far as I'm concerned, the best way to get you through the learning curve is an Online Trading Academy classroom, then on to the Extended Learning Track program to get live help on nearly a daily basis.
Looking back at some of the trading mistakes I've made and many others have as well, it was easy to see how experienced traders took advantage of us. The same holds true today. In every class I teach, we can see the mistakes that the novice trader (the 90%-er) makes. The question always comes up, "Who is buying way up there? It's so expensive now?!" The answer is the 90%-er is buying the expensive stock/future/currency pair. Who are they buying from? The 10%-er, the traders who consistently make money from trading. So the next question is why are they buying there? The simple answer is they don't understand the importance of our supply and demand levels. The more complicated answer is that they are waiting for more confirmation that this particular level will hold. Often TOO MUCH confirmation. Let's take a look at a chart and go through the common thought process of a 90%-er:

http://www.tradingacademy.com/lesson...rt20110614.jpg
Figure 1

On the preceding USDCHF chart, I've drawn in an easy supply zone and a difficult demand zone. The supply zone is easy because of the strength of the moves away from it. The demand zone is difficult because of its width. I chose the bottom portion of the tail of the long red candle, ending at the low point of the next green candle. In a future newsletter, we'll discuss different techniques for defining your supply and demand zones. The professional trader will sell at the supply zone because of the supply demand imbalance - notice the strength of the moves away from the level. Where will the novice trader sell? After a significant portion of the last downtrend has already happened! Here is their thought process at each labeled number:

 

1. I can't sell now, it was just going up! What if it keeps going up? Maybe this is just a pause, I don't want to take another loss!
2. OK, it's starting to go down, but I've made this mistake before! No way am I selling this breakdown! They will just turn this thing up and stop me out!
3. Oh man, this thing is still going down; I knew I should have sold it earlier! Maybe I should sell now? Let me check the chart to see how far this thing will go...
4. See the bounce!?! Good thing I didn't sell! I knew it was going to go back up, they were playing games with me!
5. Drat, looks like it will keep going down; I knew I should have sold it earlier! Alright, time to join this trend, time to sell!

That's when the professional buys.
So, what is the novice trader doing wrong? Waiting for TOO MUCH confirmation! We must always have in mind all three parts of our trade before we hit the button - our entry, stop loss price and profit target. If you don't have all three figured out ahead of time, you are doing it wrong. The longer you wait in the trend to enter your trade, the larger your stop gets and the smaller your profit target gets. That is wrong. The more time you spend learning to trust the levels you have drawn, the more they may help get you into trades earlier with a much better reward to risk ratio! These are some of the secrets to trading well.
Until next time,
Rick Wright [email protected]

nice couple of articles I thought worth sharing.

Those are simple rules that really work because what is behind Supply and Demand is natural human behavior, and right now, even using all kind of EAs, humans are the ones buying and selling.

We just have to learn to set our levels and trust them; I find that Pending Orders are a great way to control emotions and trigger great trades.

Even if the Pending Order is not reached, you can be objective and learn that you can trust your levels, and you can be sure that there will be more.

Take a look at the USDCHF H4 attached image of today’s session. I had a PO at 0.8527. The price got to 0.8526, just one single round pip away from my PO.

Lesson learned: S/D levels work, now I'm waiting for the next one.

Any thoughts on this as a possible buy on the gbpusd 4hr

Very Nice but if it gets breached don't forget the next level..