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Romancing the Price

  • #501
  • Aug 2, 2011 10:58am Aug 2, 2011 10:58am
Quoting kravmaga39
your posts are full of trading skills but also Do u have some erection or size problem Dude?Hm less trading and find girlfriend?
How the fcuk did you reach that conclusion based on Orb's post? It is an analogy

A compliment followed by a ridiculous cuss in once sentence. This place never ceases to amaze me.
  • #502
  • Aug 2, 2011 11:11am Aug 2, 2011 11:11am
Quoting Ultimatus
Understood.

tbh, I am still ironing out my method so to speak. I am thinking of taking h1 levels using m15 candles as I don't think it's safe to use m5 from these major levels?

Anyway, I am short EU from 1.425 off the m15 bearish candle, now at BE +2.
No worries matey. It will take a long time to iron out your method. Don't expect instant results. You are probably better off doing it in a demo or a micro account first as there is no point in losing large amounts of money while you are still ironing out or experimenting with your methods to formulate your trading plan.

You have to find out what works for you and what doesn't work for you. It will come with time, but there are no shortcuts. As a rough guide, you will probably need 10,000 hours of screen time before you become proficient. 50 hours a week will take you 4 years. Some people will do it quicker, others will never get it. You will have your ups and downs, you have to take the rough with the smooth... just never give up as you have now seen a faint light at the end of the tunnel!
  • #503
  • Aug 2, 2011 11:31am Aug 2, 2011 11:31am
Quoting bbakker
How the fcuk did you reach that conclusion based on Orb's post? It is an analogy

A compliment followed by a ridiculous cuss in once sentence. This place never ceases to amaze me.
He is the grand master of pornographic analogy...but it works .
  • #504
  • Aug 2, 2011 11:55am Aug 2, 2011 11:55am
Quoting Ultimatus
Understood.

tbh, I am still ironing out my method so to speak. I am thinking of taking h1 levels using m15 candles as I don't think it's safe to use m5 from these major levels?

Anyway, I am short EU from 1.425 off the m15 bearish candle, now at BE +2.
I assume you got stopped out and I don't know how you got 1.425 for a short as this is far too late! Here is a chart which hopefully is self-explanatory.

Attached Image (click to enlarge)
Click to Enlarge Name: EU_trade.png Size: 80 KB


Anyway, I hope I have given you plenty of info and food for thought. It is time to get back to my holiday and relax!

See you peeps soon and good luck with your trading!
  • #505
  • Aug 2, 2011 11:59am Aug 2, 2011 11:59am
Why is it far too late? I took the break of the m15 candle, now sitting at +50

Nothing wrong with that IMO.
  • #506
  • Aug 2, 2011 12:06pm Aug 2, 2011 12:06pm
Quoting Ultimatus
Why is it far too late? I took the break of the m15 candle, now sitting at +50

Nothing wrong with that IMO.
Hey, nothing wrong with a profit... but study my chart in detail. I hope you took some profit off the table! We will bounce around here for a while until either demand or supply on my chart breaks.

Maybe if you post a chart of your trade it would be easier to see. A picture tells a thousand words!
  • #507
  • Aug 2, 2011 12:09pm Aug 2, 2011 12:09pm
Quoting kravmaga39
your posts are full of trading skills but also Do u have some erection or size problem Dude?Hm less trading and find girlfriend?
I try to explain trading in everyday terms or at least in terms of situations i know very well. While my language may be coarse and my attitude borderline insane i am pretty sure that i was able to answer his question well enough.

So no i don't have an erection or size problem, im perfectly happy with my body, also please regard everything i write as HUMOR, albeit dark humor at that.

Done with work for the day, time for a whisky
  • #508
  • Aug 2, 2011 12:13pm Aug 2, 2011 12:13pm
The way I have read it is, we are coming off weekly supply on the way down to test next weekly demand? So shorts are preferable as we have hit daily/H4 supply and need to test the demand at 1.407 area.

Here are charts, first one with my entry ( break of m15 bar)

Second is H4 and shows my final target, which I think now is way too ambitious lol!

p.s. yes I am using the supdem indicator, but only as a guide, I am not relying on it.
Attached Image(s) (click to enlarge)
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  • #509
  • Aug 2, 2011 12:36pm Aug 2, 2011 12:36pm
Mangalesh asked me earlier, privately, how I intended to manage my EU long.

Here's the trade in m5 mate. I told you why I entered it

Now tell me why I closed it

Best

If
Attached Image (click to enlarge)
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  • #510
  • Aug 2, 2011 12:42pm Aug 2, 2011 12:42pm
Quoting Ultimatus
The way I have read it is, we are coming off weekly supply on the way down to test next weekly demand? So shorts are preferable as we have hit daily/H4 supply and need to test the demand at 1.407 area.

Here are charts, first one with my entry ( break of m15 bar)

Second is H4 and shows my final target, which I think now is way too ambitious lol!

p.s. yes I am using the supdem indicator, but only as a guide, I am not relying on it.
All good buddy

The confusion was with your earlier post which had a typo -

Quoting Ultimatus
Understood.

tbh, I am still ironing out my method so to speak. I am thinking of taking h1 levels using m15 candles as I don't think it's safe to use m5 from these major levels?

Anyway, I am short EU from 1.425 off the m15 bearish candle, now at BE +2.
You meant 1.452 and not 1.425, hence I stated you entered too late, but it was not the case. Therefore, I retract my earlier statement and next time get your bleeding numbers right

Did you take some profit at the demand level? Remember to take some profit off the table at the opposing demand level!

Of course you are letting one run... in case it does break demand!

P.S. Posting charts always help, to stop confusion and also for the benefits of others!
  • #511
  • Aug 2, 2011 12:44pm Aug 2, 2011 12:44pm
Quoting Ifmyante
Mangalesh asked me earlier, privately, how I intended to manage my EU long.

Here's the trade in m5 mate. I told you why I entered it

Now tell me why I closed it

Best

If
  • #512
  • Aug 2, 2011 12:50pm Aug 2, 2011 12:50pm
Quoting bbakker
All good buddy

The confusion was with your earlier post which had a typo -



You meant 1.452 and not 1.425, hence I stated you entered too late, but it was not the case. Therefore, I retract my earlier statement and next time get your bleeding numbers right

Did you take some profit at the demand level? Remember to take some profit off the table at the opposing demand level!

Of course you are letting one run... in case it does break demand!

P.S. Posting charts always help, to stop confusion and also for the benefits...
I definitely did mean 1.425 lol! Price is no where near 1.452!

either you have had one too many holiday drinks, or I'm going insane hehe...which one is it?
  • #513
  • Aug 2, 2011 12:51pm Aug 2, 2011 12:51pm
Quoting bbakker
There's a cupcake in the mail, B
  • #514
  • Aug 2, 2011 12:57pm Aug 2, 2011 12:57pm
Quoting Ultimatus
I definitely did mean 1.425 lol! Price is no where near 1.452!

either you have had one too many holiday drinks, or I'm going insane hehe...which one is it?
The beer is flowing and the sun has got to me. You'll be glad to know that you're perfectly sane!

I can't match my 4 digits to your 3 and I can't fcuking read hence the constant requests for charts... lol

I take it all back... the confirmation entry was great!
  • #515
  • Aug 2, 2011 1:00pm Aug 2, 2011 1:00pm
Quoting bbakker
The beer is flowing and the sun has got to me. You'll be glad to know that you're perfectly sane!

I can't match my 4 digits to your 3 and I can't fcuking read hence the constant requests for charts... lol

I take it all back... the confirmation entry was great!
hahahaha, you don't know how many times I checked that price to make sure
  • #516
  • Aug 2, 2011 1:00pm Aug 2, 2011 1:00pm
Hey guys, I've been on somewhat of a vision quest with my trading. Because of this I've been completely focused on my trades and have not been posting much.

I wait around for a very long time to risk my capital and haven't taken a large (2% of capital) trade in a week. Though I'd share this one:

A) Entry on close, risked 1% and stopped at BE
B) Entry on close, risked 1% and stopped for -0.5%
C) Entry on close, risked 1%
D) Entry on close, risked 1%
E) TP hit before zone, grabbed 4%

Overall + 3.5% which exceeds my weekly goal. It may be days or even a week before I take another trade, just wanted to illustrate a topic I outlined in a previous post about keeping my focus on risk.

For me, when I contemplate risk:reward it is in terms of:

1) Evaluating profit margin
2) Evaluating performance (by looking at average loss:average win)

This helps me keep the mind set that losses are an expense

The first chart is M15 and the second is M5, I had alerts set for the levels and once my risk was eliminated for my positions I set more alerts and removed myself from the equation.
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  • #517
  • Aug 2, 2011 1:12pm Aug 2, 2011 1:12pm
Quoting Ifmyante
There's a cupcake in the mail, B
  • #518
  • Aug 2, 2011 4:29pm Aug 2, 2011 4:29pm
Let me first say, I love the name of this thread. I don't know why, but it always makes me smile.

Whilst I do not use Supply and Demand zones per se, I had to post this. I hope you don't mind.

Supply/Demand Delta Zones created via WRB Analysis are different than the simple supply and demand zones. They are different both in construction and use. The construction part is obvious. The use part simply means that a S/D Zone can be used to take trade signals either longs or short depending on a trader's entry signal method. Okay, enough on that. The reason for the post.

As I waited patiently for a trade to set-up today, a funny thing happened. Take a look at the chart below.

Notice point A. Price moved back into a Supply/Demand Delta Zone and then exited. Note how it exited. There were 8 consecutive dark (Open>Close) each close lower. Clearly this shows that there was more SUPPLY than demand in the zone.

So as price began to rise, I heard Sam's voice in my head. "At least two of the things losing traders do wrong are; 1. They buy AFTER a rise in price. 2. They buy in an area where there is clearly more SUPPLY than demand."

As it happened, the combined candle lines as price rose formed a valid delayed bearish engulfing pattern. The person(s) on the wrong side of this trade were doing exactly what Sam says shouldn't be done.

Now for the bad news, at least for me. After a the valid delayed bearish engulfing pattern, I was looking for my entry. I want price to move back into the range of the engulfing candle line. At point B, what actually happens is that price gapped down after the engulfing candle line. Price then quickly moved up and then moved back down just as quickly. So price never got back into the body of the engulfing candle but did get back to the close/low. Unfortunately it was so quick that I missed it. Not wanting to chase the price, I had to sit on the sidelines..

This trade could have been made without regard to Sam's teachings. Yet his words ricocheted through my head as it set-up.
Attached Image (click to enlarge)
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Without VSA, you're playing checkers while the Smart Money plays chess.
  • #519
  • Edited 1:59pm Aug 3, 2011 3:50am | Edited 1:59pm
HG can you explain what a SD delta zone is, and how it differs from normal ones?
  • #520
  • Aug 3, 2011 3:58am Aug 3, 2011 3:58am
Because you're a chicken ?

Quoting Ifmyante
Mangalesh asked me earlier, privately, how I intended to manage my EU long.

Here's the trade in m5 mate. I told you why I entered it

Now tell me why I closed it

Best

If
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