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Trading Currency Futures using Sam Seiden Supply & Demand levels

  • #41
  • Jun 30, 2011 10:45am Jun 30, 2011 10:45am
This UC level in hindsight ofcourse, was great. Should have posted it earlier before it happened though.

BTW, Dean I found the same with me. Going back to test, I find my accuracy a little low . But looks like I may be improving a bit.
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  • #42
  • Jun 30, 2011 10:50am Jun 30, 2011 10:50am
Quoting misterboy
This UC level in hindsight ofcourse, was great. Should have posted it earlier before it happened though.

BTW, Dean I found the same with me. Going back to test, I find my accuracy a little low . But looks like I may be improving a bit.
i have problems defining s and d, in the videos on seidens site, it all looks very easy and clear, as soon as i switch to my charts nothing is straight and clear like i was watching in his vids, its all over the place, theres no perfect lines of consolidation like he mentions, this is where im struggling, so i end up just picking tops and bottoms which isnt the same
  • #43
  • Jun 30, 2011 10:53am Jun 30, 2011 10:53am
Dean, Sam Seiden is not the Holy Grail. He offers a concept which needs to be picked up and studied by each trader individually as only a few will really be able to develop an "edge" from this. My advice is once you watch a few videos and get the idea go back to the platform and study charts with zero indicators on them and think of the market as a bunch of buyers and sellers haggling it out. You see these "haggles" on your charts in areas of consolidations.

This is one of many ways to study S&R: plot horizontal lines above & below these consolidations and leave them alone. Now you just wait for either Buyers or Sellers to emerge victoriously and own the space to the next consolidation. This is a super basic run down - you will need to also see where everything fits in multiple TF's, current trends, formations on your chart and size of consolidation, ...etc.

Another popular way to analyze S/R is looking for imbalances which are great as you can pick up good momentum trades. Sam Seiden has a great eye for these.

Good threads here on FF to learn S/R as well as turning points are WMD's threads as well as James16.

Good Luck,




Quoting deankenny21
this trading is the core of it all, and i been watching his free info, excllent stuff he has to share, and im very eager to trade this way, unfortunately getting too excited watching his videos i failed miserably, everytime i go back it looks so easy and i fail again, so if we can get this active i will be an active poster all the time, some charts above you seem to have the idea and would love to get better learning from you guys, so anyone want to post something new im now watching willing to learn and hopefully can start inputting myself chart...
"As Kids we believe Anything is Possible; the Trick is to never forget it!"
  • #44
  • Jun 30, 2011 10:55am Jun 30, 2011 10:55am
Here I am going to post a few lines I have on some of the other charts. Lets see how it goes:

Ignore some of those horizontal dotted lines
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  • #45
  • Jun 30, 2011 10:59am Jun 30, 2011 10:59am
Quoting teemo
Dean, Sam Seiden is not the Holy Grail. He offers a concept which needs to be picked up and studied by each trader individually as only a few will really be able to develop an "edge" from this. My advice is once you watch a few videos and get the idea go back to the platform and study charts with zero indicators on them and think of the market as a bunch of buyers and sellers haggling it out. You see these "haggles" on your charts in areas of consolidations.

This is one of many ways to study S&R: plot horizontal lines above & below these...
thanks, i need some reality checks, and this why im here in this thread, to learn and get better,
like you said look at a plain chart and i highlighted an area which would be a good idea for a buy order ?? at the top of level with stop few pips below it, would you agree with me, and if not why not, so i can try learn where im going wrong on this particular one.

http://i56.tinypic.com/15ourrr.jpg
  • #46
  • Jun 30, 2011 11:14am Jun 30, 2011 11:14am
Your chart is a good example. Also look at Misterboy's & Rail's charts which are good.

Here are a couple of charts as well:

Crude: The marked area has been a "reaction" area in the past. Obviously I'm not touching this until price leaves there.

Canadian Dollar: I traded this last week. Look at how price reacted every time it returned to the areas of "Supply Imbalance". Sometimes barely enough time to get filled for a trade!


Quoting deankenny21
thanks, i need some reality checks, and this why im here in this thread, to learn and get better,
like you said look at a plain chart and i highlighted an area which would be a good idea for a buy order ?? at the top of level with stop few pips below it, would you agree with me, and if not why not, so i can try learn where im going wrong on this particular one.

http://i56.tinypic.com/15ourrr.jpg
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Click to Enlarge Name: Canadian dollar.jpg Size: 100 KB
"As Kids we believe Anything is Possible; the Trick is to never forget it!"
  • #47
  • Jun 30, 2011 11:26am Jun 30, 2011 11:26am
Quoting teemo
Your chart is a good example. Also look at Misterboy's & Rail's charts which are good.

Here are a couple of charts as well:

Crude: The marked area has been a "reaction" area in the past. Obviously I'm not touching this until price leaves there.

Canadian Dollar: I traded this last week. Look at how price reacted every time it returned to the areas of "Supply Imbalance". Sometimes barely enough time to get filled for a trade!
excellent thank you, where would you have the bottom of the highlighted part, what defines in your eyes where to put the bottom and top of the zone?
  • #48
  • Jun 30, 2011 11:35am Jun 30, 2011 11:35am
Quoting deankenny21
excellent thank you, where would you have the bottom of the highlighted part, what defines in your eyes where to put the bottom and top of the zone?
Think of S&D and Trend Lines as "zones" - not an exact numeric value. But here is my concept which I feel most comfortable with:
- Level which caused highest "sensitivity" to price.
- Level with most hits (price turned around). Origin of rallies and sell-offs is important.
- Look for open & close on same and higher TF (e.g. on your 15 Min chart the close of the 60Min candle may be significant).

Hope this helps. Again, study a ton of charts and always investigate why price reacted with such sensitivity where it did, and study the area of origin of this sensitivity. Finally, I strongly recommend studying candle and chart formations (Pinbars, Engulfings, W's & M's..etc.) because when these occur in good areas of Supply & Demand they pretty much hand you a trade on a silver platter.

Good Luck!
"As Kids we believe Anything is Possible; the Trick is to never forget it!"
  • #49
  • Jun 30, 2011 11:56am Jun 30, 2011 11:56am
I drew this one some time back, turned out great. Just posting it so everyone can see.
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  • #50
  • Jun 30, 2011 12:00pm Jun 30, 2011 12:00pm
That's definitely a Sexy One!


Quoting misterboy
I drew this one some time back, turned out great. Just posting it so everyone can see.
"As Kids we believe Anything is Possible; the Trick is to never forget it!"
  • #51
  • Jun 30, 2011 12:03pm Jun 30, 2011 12:03pm
Quoting misterboy
I drew this one some time back, turned out great. Just posting it so everyone can see.
ok im getting the jist of it, did u look a time frame lower at price actin in more detail in the area u highlighted.

If you can give me a basic reasoning as to why you spotted that as a level id very much appreciate it.
  • #52
  • Jun 30, 2011 12:05pm Jun 30, 2011 12:05pm
Quoting teemo
Dean, Sam Seiden is not the Holy Grail. He offers a concept which needs to be picked up and studied by each trader individually as only a few will really be able to develop an "edge" from this. My advice is once you watch a few videos and get the idea go back to the platform and study charts with zero indicators on them and think of the market as a bunch of buyers and sellers haggling it out. You see these "haggles" on your charts in areas of consolidations.

This is one of many ways to study S&R: plot horizontal lines above & below these...
All true, but with his help I was able to see something that does not see many. Sorry for bad English, I'm from Russia
  • #53
  • Jun 30, 2011 12:06pm Jun 30, 2011 12:06pm
Quoting deankenny21
i have problems defining s and d, in the videos on seidens site, it all looks very easy and clear, as soon as i switch to my charts nothing is straight and clear like i was watching in his vids, its all over the place, theres no perfect lines of consolidation like he mentions, this is where im struggling, so i end up just picking tops and bottoms which isnt the same
To get an eye for it, I just go back in my chart and scroll bit by bit marking off any levels I see and seeing how they worked. I think its a good way of doing it, and you can see plenty of charts in a short amount of time.
  • #54
  • Jun 30, 2011 12:12pm Jun 30, 2011 12:12pm
Quoting deankenny21
ok im getting the jist of it, did u look a time frame lower at price actin in more detail in the area u highlighted.

If you can give me a basic reasoning as to why you spotted that as a level id very much appreciate it.
I just looked at that one time frame (30 min). On a lower TF it might have had many candles and probably wouldn't have looked that neat.

The reasoning was, see the two or three candles where I have drawn at the level? They're pretty sideways and small bodies compared to the big move up afterward which were decisive large candles in one direction.
  • #55
  • Jun 30, 2011 12:27pm Jun 30, 2011 12:27pm
Quoting teemo
That's definitely a Sexy One!
Yup does help your confidence when you find a few like these every now and then
  • #56
  • Jun 30, 2011 12:43pm Jun 30, 2011 12:43pm
Quoting Rail
All true, but with his help I was able to see something that does not see many. Sorry for bad English, I'm from Russia
Hi Rail, This was not a negative statement about Sam Seiden. I graduated from OTA where I attended courses with him, and am currently a lifetime member of the XLT room which he set-up and conducted for so long. You are correct in saying he showed us something very valuable. But unlike much of what you see here on Forex Factory he did not give us a "system". He offers more of a Methodology to interpret price action. It is impossible to become another Sam Seiden just like it is impossible to become another Michael Jordan,..etc.

By the way, your English is just fine and your charts are great!
"As Kids we believe Anything is Possible; the Trick is to never forget it!"
  • #57
  • Jun 30, 2011 1:01pm Jun 30, 2011 1:01pm
Quoting teemo
It is impossible to become another Sam Seiden just like it is impossible to become another Michael Jordan,..etc.
Trading individual business ... we learn from them, and make decisions themselves, the main thing to understand what you're doing and you will have a holiday.
completely agree
  • #58
  • Jun 30, 2011 2:00pm Jun 30, 2011 2:00pm
Quoting teemo
Hi Rail, This was not a negative statement about Sam Seiden. I graduated from OTA where I attended courses with him, and am currently a lifetime member of the XLT room which he set-up and conducted for so long. You are correct in saying he showed us something very valuable. But unlike much of what you see here on Forex Factory he did not give us a "system". He offers more of a Methodology to interpret price action. It is impossible to become another Sam Seiden just like it is impossible to become another Michael Jordan,..etc.

By the way, your...
Wow good to see a member of XLT. I had a question, is sam seiden's free webinars enough to learn the method or are there any secrets he only shares with members ? I would join XLT but its too expensive for me, a recent grad looking for a job. Thanks in advance and I'll be following the thread
  • #59
  • Jun 30, 2011 2:55pm Jun 30, 2011 2:55pm
Quoting pipexplorer1
Wow good to see a member of XLT. I had a question, is sam seiden's free webinars enough to learn the method or are there any secrets he only shares with members ? I would join XLT but its too expensive for me, a recent grad looking for a job. Thanks in advance and I'll be following the thread
I was wondering the same thing? Arethey enough?
  • #60
  • Jun 30, 2011 3:34pm Jun 30, 2011 3:34pm
Hi, Sam's free material gives a good idea and overview of his methodology. Of course there is a lot more to see and learn if you attend a program with him. He covers in more detail the formations of Supply & Demand areas, price action,...etc all of which will give you a much better feel for his concept. The main problem now is that I don't think it is any longer possible to attend programs with Sam. He has been promoted a couple of years ago to Director or VP of Education and does not conduct classroom courses. It is now also a rare occasion to see him in XLT whereas he was on there daily in the past.

Now there are two Instructors who are absolutely awesome with whom you could attend class (yes - I recommend actual "classes") and benefit tremendously from S/R trading. They are Steve Misic and Rick Wright both of whom I know personally and keep in occasional contact with.

Frankly, XLT is good if you like to be in a "room". Though I have lifetime membership I haven't attended for a coupe of years or more. Note the following:
- OTA really oversold XLT, and you most often there are +300 attendees in any session.
- There are several Instructors conducting XLT; so it is not really easy to adopt and develop a certain style.
- Due to the large number of members it is no longer so easy to contact an Instructor for questions. Instead they set-up an e-mail for XLT students to send their questions and your reply will come from whoever.
- Personally, I find XLT distracting if you are trying to trade. Either you want to trade whatever a student or Instructor points to (I do not), or you have your own bias and set-up in which case XLT can make you second guess yourself ... imagine +300 students ... ! But that's just my personal opinion. I like to focus on my trades and take responsibility for them.

So all in all a great tool for beginners - but with limitations especially once you are a Pro. Keep in mind that if you are interested in XLT you will get it for thousands less than sticker price. I am talking half the price. So be a "trader" and bargain your way through if you go for it. My recommendation is probably to purchase a week long classroom course. It is cheaper, you will have more personal interactionw ith Instructors, you can retake the class as many times and whereever on th planet you want,..etc.

Hope this helps!


Quoting pipexplorer1
Wow good to see a member of XLT. I had a question, is sam seiden's free webinars enough to learn the method or are there any secrets he only shares with members ? I would join XLT but its too expensive for me, a recent grad looking for a job. Thanks in advance and I'll be following the thread
"As Kids we believe Anything is Possible; the Trick is to never forget it!"
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