Price is everything | Page 1015 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

EIP: Everything In Price (PIE) 16 replies

Everything to Nothing to get Everything? 7 replies

Price Is Everything - Lets Focus on Price and Swings 17 replies

Price is Everything (Long Term and Semi-Auto Edition) 26 replies

Everything You Wanted To Know About Electronic Trading, by Linda Bradford Raschke 0 replies

Attachments: Price is everything
Exit Attachments

Price is everything

  • #20,281
  • Sep 14, 2011 3:55pm Sep 14, 2011 3:55pm
Hi All,

I would like to take a mo to introduce myself if I may, i'm Dave, have been trading with mixed success for a couple of years - i really feel like this thread and the Sam Sinden videos have opened my eyes and it is a great feeling

I've read a lot of your posts Ifmyante, including the recent ones on the J16 thread - some J16 blinkered people on there. I am really starting to think this is the method for me, so I hope I can contribute soon something of value. Thanks all for all the great info.
  • #20,282
  • Sep 14, 2011 5:38pm Sep 14, 2011 5:38pm
Quoting Dave987c
Hi All,

I would like to take a mo to introduce myself if I may, i'm Dave, have been trading with mixed success for a couple of years - i really feel like this thread and the Sam Sinden videos have opened my eyes and it is a great feeling

I've read a lot of your posts Ifmyante, including the recent ones on the J16 thread - some J16 blinkered people on there. I am really starting to think this is the method for me, so I hope I can contribute soon something of value. Thanks all for all the great info.
Hi Dave, and welcome.

There's lots of info to help you here, but really the trading methods are quite simple
  • #20,283
  • Sep 14, 2011 10:54pm Sep 14, 2011 10:54pm
Preparing charts for London, these levels may be reactive.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 2011-09-14_235041.jpg Size: 101 KB
Click to Enlarge Name: 2011-09-14_235104.jpg Size: 99 KB
Click to Enlarge Name: 2011-09-14_235304.jpg Size: 118 KB
Click to Enlarge Name: 2011-09-14_235402.jpg Size: 99 KB
The things that we love tell us what we are Thanks Redsword11 and Tim Morge
  • #20,284
  • Sep 15, 2011 3:57am Sep 15, 2011 3:57am
Hello guys, I am Vincent. I am kinda new in trading with currencies, and I wanted to know what would be a good first time investment ? I mean, with the leverage and stuff you can start trading with a small amount of money but I don't think that is the right way to start. Any advise ?

Thanks
  • #20,285
  • Sep 15, 2011 5:15am Sep 15, 2011 5:15am
Quoting VincentG
Hello guys, I am Vincent. I am kinda new in trading with currencies, and I wanted to know what would be a good first time investment ? I mean, with the leverage and stuff you can start trading with a small amount of money but I don't think that is the right way to start. Any advise ?

Thanks
$500 with no more than 1% risk per trade is what I would say. Wait till you get more experience and learn to trade and become consistant before you invest more than that in your trading account. People get into trading forex because they think it is a get rich quick opportunity, but in reality there are sharks out there ready to take your money and burn you on a stake. If you want to learn trading practice demo for a month then start out small then build your capital. You may lose an account or two in the beginning but that is the price you pay for tuition in this business. Doctors, Lawyers, Executives pay hundreds of thousands of dollars to become an expert in their field, so a few hundred dollars to practice trading the right way with sound money management is a bargain. All the best, and good luck to you.
The things that we love tell us what we are Thanks Redsword11 and Tim Morge
  • #20,286
  • Sep 15, 2011 1:23pm Sep 15, 2011 1:23pm
Thanks you very much Ifmyante for the time you take to answer!
  • #20,287
  • Sep 15, 2011 3:04pm Sep 15, 2011 3:04pm
Update on charts
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 2011-09-15_155914.jpg Size: 123 KB
Click to Enlarge Name: 2011-09-15_160046.jpg Size: 118 KB
Click to Enlarge Name: 2011-09-15_160216.jpg Size: 131 KB
Click to Enlarge Name: 2011-09-15_160413.jpg Size: 132 KB
The things that we love tell us what we are Thanks Redsword11 and Tim Morge
  • #20,288
  • Sep 16, 2011 12:24am Sep 16, 2011 12:24am
Watch for these levels today.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 2011-09-16_010021.jpg Size: 109 KB
Click to Enlarge Name: 2011-09-16_011222.jpg Size: 131 KB
Click to Enlarge Name: 2011-09-16_011346.jpg Size: 104 KB
Click to Enlarge Name: 2011-09-16_011543.jpg Size: 118 KB
Click to Enlarge Name: 2011-09-16_011656.jpg Size: 114 KB
Click to Enlarge Name: 2011-09-16_011801.jpg Size: 131 KB
Click to Enlarge Name: 2011-09-16_012418.jpg Size: 128 KB
The things that we love tell us what we are Thanks Redsword11 and Tim Morge
  • #20,289
  • Sep 17, 2011 1:10pm Sep 17, 2011 1:10pm
Update of Charts
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 2011-09-17_133832.jpg Size: 145 KB
Click to Enlarge Name: 2011-09-17_134400.jpg Size: 140 KB
Click to Enlarge Name: 2011-09-17_134432.jpg Size: 136 KB
Click to Enlarge Name: 2011-09-17_134520.jpg Size: 124 KB
Click to Enlarge Name: 2011-09-17_140208.jpg Size: 134 KB
Click to Enlarge Name: 2011-09-17_140955.jpg Size: 143 KB
Click to Enlarge Name: 2011-09-17_141138.jpg Size: 142 KB
The things that we love tell us what we are Thanks Redsword11 and Tim Morge
  • #20,290
  • Sep 18, 2011 4:15pm Sep 18, 2011 4:15pm
Quoting eaglestar
Update of Charts
Hi EagleStar,

I am following your postings. Can you please go over the way you decide to plot the Supp/Res lines and the Resistance lines. Also, the Circles you are drawing means what? And finally, your entry and exit strats based on these charts and the analysis based on your drawings.

Thanks for your help.
  • #20,291
  • Sep 18, 2011 5:37pm Sep 18, 2011 5:37pm
Quoting nkp9999
Hi EagleStar,

I am following your postings. Can you please go over the way you decide to plot the Supp/Res lines and the Resistance lines. Also, the Circles you are drawing means what? And finally, your entry and exit strats based on these charts and the analysis based on your drawings.

Thanks for your help.
Hi EagleStar,

I am following your postings. Can you please go over the way you decide to plot the Supp/Res lines and the Resistance lines.
Through Experience I have learned to find the stronger levels also by reading this thread and nobrainertrades. When I am not trading or waiting for an alert, I am drawing and charting on historical charts by going back in time in metatrader and going forward. Similar to backtesting but drawing. I will start posting videos soon.

Also, the Circles you are drawing means what?
Circles point to where price hit and are based on line touches/points of interest.

And finally, your entry and exit strats based on these charts and the analysis based on your drawings.
Entries and exits are based on price action, namely what does price do when it reacts at a level or supply/demand or a trenline. Is price falling or is price rising? are we in a trend or in a range? Is there news coming that is important today that may affect the flow of the market? etc. Read Romancing the Price book it goes over a lot. I use levels rather than boxes, but very similar to how I trade. Also look at Ifmayante attachments, Emene, Orbital, KennyZ, and bbakker. You can find attachments by searching their profile page.

Trade Well. I will continue posting and will post a couple of videos later this week.

Thanks for your help.
The things that we love tell us what we are Thanks Redsword11 and Tim Morge
  • #20,292
  • Sep 18, 2011 11:20pm Sep 18, 2011 11:20pm
Possible Levels to look at for London
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 2011-09-19_001755.jpg Size: 122 KB
Click to Enlarge Name: 2011-09-19_001816.jpg Size: 125 KB
Click to Enlarge Name: 2011-09-19_001832.jpg Size: 114 KB
Click to Enlarge Name: 2011-09-19_001932.jpg Size: 125 KB
Click to Enlarge Name: 2011-09-19_002001.jpg Size: 116 KB
The things that we love tell us what we are Thanks Redsword11 and Tim Morge
  • #20,293
  • Sep 18, 2011 11:43pm Sep 18, 2011 11:43pm
nkp9999

Watch the video please that franknn made it is pretty good

http://www.forexfactory.com/showthre...80#post4932480

also check out
nobrainertrades.com

and search google for
sam seiden fxstreet
and
mike baghdady fxstreet

I also love the work of Tim Morge from marketgeometry.com most of his articles are on the sister site medianline.com/articles He calls levels mountains and valleys. Many people trade similar styles just use different terms.
The things that we love tell us what we are Thanks Redsword11 and Tim Morge
  • #20,294
  • Sep 19, 2011 5:36am Sep 19, 2011 5:36am
Quoting eaglestar
Hi EagleStar,

I am following your postings. Can you please go over the way you decide to plot the Supp/Res lines and the Resistance lines.
Through Experience I have learned to find the stronger levels also by reading this thread and nobrainertrades. When I am not trading or waiting for an alert, I am drawing and charting on historical charts by going back in time in metatrader and going forward. Similar to backtesting but drawing. I will start posting videos soon.

Also, the Circles you are drawing means what?
Circles point to where price...

Thank you EagleStar
  • #20,295
  • Sep 19, 2011 12:23pm Sep 19, 2011 12:23pm
Update
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 2011-09-19_132051.jpg Size: 115 KB
Click to Enlarge Name: 2011-09-19_132112.jpg Size: 116 KB
Click to Enlarge Name: 2011-09-19_132135.jpg Size: 131 KB
Click to Enlarge Name: 2011-09-19_132207.jpg Size: 120 KB
Click to Enlarge Name: 2011-09-19_132307.jpg Size: 129 KB
The things that we love tell us what we are Thanks Redsword11 and Tim Morge
  • #20,296
  • Sep 19, 2011 11:28pm Sep 19, 2011 11:28pm
Levels for London
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 2011-09-20_002120.jpg Size: 130 KB
Click to Enlarge Name: 2011-09-20_002248.jpg Size: 121 KB
Click to Enlarge Name: 2011-09-20_002322.jpg Size: 130 KB
Click to Enlarge Name: 2011-09-20_002347.jpg Size: 120 KB
Click to Enlarge Name: 2011-09-20_002631.jpg Size: 130 KB
The things that we love tell us what we are Thanks Redsword11 and Tim Morge
  • #20,297
  • Sep 20, 2011 5:16am Sep 20, 2011 5:16am
Quoting eaglestar
$500 with no more than 1% risk per trade is what I would say. Wait till you get more experience and learn to trade and become consistant before you invest more than that in your trading account. People get into trading forex because they think it is a get rich quick opportunity, but in reality there are sharks out there ready to take your money and burn you on a stake. If you want to learn trading practice demo for a month then start out small then build your capital. You may lose an account or two in the beginning but that is the price you...

Hi eaglestar, thank you for your replay, but don't you think that $500 is a little investment ? I am trading with a broker that the lowest leverage is 100 so that only leaves me an option to trade maximum 5 trades of 100*100.. that doesn't help me very much to taste the forex market.. I am thinking of trading with a platform of mt4, what do you think ?
  • #20,298
  • Edited 7:54am Sep 20, 2011 7:34am | Edited 7:54am
Quoting VincentG
Hi eaglestar, thank you for your replay, but don't you think that $500 is a little investment ? I am trading with a broker that the lowest leverage is 100 so that only leaves me an option to trade maximum 5 trades of 100*100.. that doesn't help me very much to taste the forex market.. I am thinking of trading with a platform of mt4, what do you think ?
If you think that is too small than perhaps $2000 with no more than .5% risk per trade would be better. Read some about money management and rrr. A good place to start is

Money management strategies for futures traders by Balsara
A traders money management system by Mcdowell
Trade your Way to Financial Freedom by Tharp

Also read Trading in the Zone and The Disciplined Trader by Douglas

When you say that you want to taste the forex market that concerns me. What do you want to taste? The thrill of winning a trade? The thrill of the big bucks? Release (look into Sedona Method that has helped me) the desire for money and the money will come to you over time. I trade forex and learn here and post here because I love it. I love sitting and analyzing a trade, mapping the markets, etc. If you can sit 8-12 hours a day (or more) at a computer and chart and enjoy it, then trading is for you and you can become one of the best. If you can handle your emotions when you win a large trade then you can play with bigger money. It looked like you were new here and perhaps new to trading in general, and I just wanted to save you the heartache of burning $50,000 in a month because you wanted to taste the market. I have friends and know of people that did just that. They leave trading because of the emotional pain that caused even though their charts were amazing and they were making good trades. I hope you understand where I am coming from as i do want what is best for you really: to become one of the top 5% of traders; the ones that make money.

All the best.
The things that we love tell us what we are Thanks Redsword11 and Tim Morge
  • #20,299
  • Sep 20, 2011 1:33pm Sep 20, 2011 1:33pm
Just started trading supply and demand. Made 8.5% on my account shorting 2 moves into this zone.
Attached Image (click to enlarge)
Click to Enlarge Name: 1.png Size: 52 KB
  • #20,300
  • Sep 20, 2011 7:41pm Sep 20, 2011 7:41pm
Quoting Shyguy356
Just started trading supply and demand. Made 8.5% on my account shorting 2 moves into this zone.
Excellent, just be careful about Risk
The things that we love tell us what we are Thanks Redsword11 and Tim Morge
91 traders viewing now