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Price is Everything Chat Room

  • #461
  • Sep 20, 2011 1:47pm Sep 20, 2011 1:47pm
Pardon Emene et non Emme

Take care
  • #462
  • Sep 20, 2011 3:40pm Sep 20, 2011 3:40pm
Quoting casapips
Bonjour Master Yodas - Ifmyante, KennyZ, Orbital, frankkn...
oups forgot the frenchy Emme ;-)

I just wanted to share my 2 first PIE trades I managed to take this morning ... Well I hope it is the case.
I am willing to work hard to become a PIE Jedi.

All the best guys!
Very good, Casa

you made it look easy
  • #463
  • Sep 20, 2011 5:42pm Sep 20, 2011 5:42pm
I was wondering how you guys draw the levels on the charts and not get confused with a lot of different levels. For example do you open multiple charts of one currency or do you draw lines from all time frames onto one chart?

Also do you guys use all the time frames to draw levels off. What I did was draw weekly and then daily levels and then drop down and draw 1hr levels and trade off the 1hr charts. I also drew the different levels in different colors so I knew which came from which time frame. So I'm thinking if I wanted to trade more off the lower charts I can add in 4hr zones and then 30m and trade off 15/5min chats.

However if I did that I feel like I would have a lot of zones on one chart. Plus I'd have a lot of different colors and it would be tough to keep track of which color corresponded to which time frame. Also if you don't color code them how do you tell which time frame the zone comes from? Do you pay attention to that? I'd assume so since the higher time frames should be stronger and I'd think you'd want to know what time frame the zone is from.

I hope my post isn't too long and confusing. I appreciate the help you guys have given and I hope it continues. Do you guys have a trading room or anything like that setup? I'd like to talk to people trading S/D while I'm trading. Thanks.

trublu
  • #464
  • Sep 20, 2011 7:38pm Sep 20, 2011 7:38pm
still learning though
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  • #465
  • Sep 20, 2011 8:40pm Sep 20, 2011 8:40pm
Quoting trublu
I was wondering how you guys draw the levels on the charts and not get confused with a lot of different levels. For example do you open multiple charts of one currency or do you draw lines from all time frames onto one chart? ...
My 2 pips...

Me personally am using only 2 different colors of boxes. One color for weekly and daily supply and demand zone(Basically I draw box in weekly than I just use the same box and adjust it on daily).

Second color for the 4hr, 1hr and 15min. I first draw box on 4hr chart than i just adjust it according to 1hr.(Very often weekly/4hr zone have "inside" daily/1hr zone.) Then I add there some pure 1hr level. And about the 15minute level I only occasionaly draw pure 15 minutes zone. Most of the time it is only adjusted 1hour chart.

I dont go lower than 15 minutes chart but I think that you can go on with adjusting your 15m zone to 5min and 5min to 1minutes...

I think that everyone should find his own way of how to visualise supply and demand zones(some1 use lines vs I use boxes etc..) Everyones brain is quite different.

Hope it makes sense.
  • #466
  • Sep 21, 2011 3:03am Sep 21, 2011 3:03am
That's it. You know how to trade now So just take the easy ones like this one and try not to over complicate things.

Quoting casapips
Bonjour Master Yodas - Ifmyante, KennyZ, Orbital, frankkn...
oups forgot the frenchy Emme ;-)

I just wanted to share my 2 first PIE trades I managed to take this morning ... Well I hope it is the case.
I am willing to work hard to become a PIE Jedi.

All the best guys!
Hello.
  • #467
  • Sep 21, 2011 3:14am Sep 21, 2011 3:14am
Quoting emene
That's it. You know how to trade now So just take the easy ones like this one and try not to over complicate things.
Ifmyante, Emene,

Many thanks for your warm welcome!
Yep I will do my best to keep it simple stupid.
  • #468
  • Sep 21, 2011 4:56pm Sep 21, 2011 4:56pm
anyone else get this one?
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  • #469
  • Sep 21, 2011 8:55pm Sep 21, 2011 8:55pm
short EU
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  • #470
  • Edited 9:42am Sep 22, 2011 9:31am | Edited 9:42am
made some nice pips on Eur Usd

aligater
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born to speculate
  • #471
  • Sep 22, 2011 10:23am Sep 22, 2011 10:23am
hi there traders, hhow about this?

http://uploadpic.org/storage/2011/th...uq5onXeyA2.jpg (http://uploadpic.org/v.php?img=o7H7HOdJu)
TRADING IS SIMPLE BUT NOT EAZY
  • #472
  • Sep 22, 2011 12:34pm Sep 22, 2011 12:34pm
Chickened out on Oil and closed at h4 demand which I think won't hold, but I can live with it
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  • #473
  • Edited 12:43am Sep 23, 2011 12:15am | Edited 12:43am
Quoting green_trader
hi there traders, hhow about this?

http://uploadpic.org/storage/2011/th...uq5onXeyA2.jpg (http://uploadpic.org/v.php?img=o7H7HOdJu)

also in some webinars, sam seiden said that we are better to take a Rally Base Drop or Drop Base Rally area...
like this
http://uploadpic.org/storage/2011/th...BQfgKmknnk.jpg (http://uploadpic.org/v.php?img=0frXcrEoUD)

but sometime a Rally Base Rally or Drop Base Drop is a good area too..
http://uploadpic.org/storage/2011/th...oLbHBb7mzs.jpg (http://uploadpic.org/v.php?img=ZzdDTA4XCp)

what are your comments about this, brothers?
I'm curious
maybe Mr. If, Kenny and Orbital can expalin...
TRADING IS SIMPLE BUT NOT EAZY
  • #474
  • Edited 12:38am Sep 23, 2011 12:23am | Edited 12:38am
Quoting PrymeTyme
hi ultimatus


my take on gold



conclusion.. the market shows signs of weakness .. and no real signs of strenght(demand) yet,so to me it looks like before we see the area of 1915ish we see the daily demand area of 1733ish

1. nice short setup off supply line (channel)
low volume pinbars .. lower high



2. high volume wide spread down bar towards demand level ... not a good opportunity to take longs...


however we see some form of stopping action but this stopping action doesent change a weak market into a strong one.. demand ie. bulls need to show there hands now...

at least thats waht i want to see. before considering any long positions.. even if it means i miss a trade..
but thats me..


so waht i want to see is .. a breakout off the supply line channel on high volume .. ie.. demand,, behind that move.. and it should take out the supply bar (2) ie strong close

then on a retest back down.. the selling pressure should decrease.. and the support should hold to... then its just a mather of nice PA..

but .. no real signs of strenght nor a change in behaviour so far .. but the next opportunity to sell would be a break of support.. with a proper retest.. ie .. support turning into resistance...

cheers
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  • #475
  • Sep 23, 2011 7:36am Sep 23, 2011 7:36am
A few trades this morning....
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  • #476
  • Sep 23, 2011 7:52am Sep 23, 2011 7:52am
Quoting Ultimatus
A few trades this morning....
very nice work

Here are my EU
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  • #477
  • Sep 23, 2011 11:23am Sep 23, 2011 11:23am
Quoting trublu
I was wondering how you guys draw the levels on the charts and not get confused with a lot of different levels. For example do you open multiple charts of one currency or do you draw lines from all time frames onto one chart?

Also do you guys use all the time frames to draw levels off. What I did was draw weekly and then daily levels and then drop down and draw 1hr levels and trade off the 1hr charts. I also drew the different levels in different colors so I knew which came from which time frame. So I'm thinking if I wanted to trade more off the...
Hey buddy

At first when looking at MTF zones it can be a bit overwhelming because you have levels all over the place.

The process of how you sort it out is going to be something you will come to through experience because everyone is different, it will take a lot of practice and trial and error.

With the daily and weekly levels, I'll mark the nearest strong demand and the nearest strong supply. So that gives you four levels so far. I don't trade these time frames, I just watch for the trend to change at these price levels.

I define trend on the H1 looking at higher highs and lows, not to be confused with swing highs and lows. Once I've done this, I now have a particular set of supply zones or demand zones in line with my previous analysis.

Next I check out M5-M30 zones, determine their quality and trade accordingly. Some levels I scale in on limit then add accordingly depending on price action and profit margin (distance to nearest opposing level)

Hope this helps, but remember this is what works for me. What will work for you will develop over time.

Above all keep your focus on risk, that way you still have capital by the time you have found your groove.
  • #478
  • Sep 23, 2011 12:09pm Sep 23, 2011 12:09pm
Quoting frankkn
Hey buddy

At first when looking at MTF zones it can be a bit overwhelming because you have levels all over the place.

The process of how you sort it out is going to be something you will come to through experience because everyone is different, it will take a lot of practice and trial and error.

With the daily and weekly levels, I'll mark the nearest strong demand and the nearest strong supply. So that gives you four levels so far. I don't trade these time frames, I just watch for the trend to change at these price levels.

I define trend on...
Thanks for the reply frankkn, I've set my charts up in a similar manner. Now it's just a matter of practicing and seeing if I need to make any changes or not. Have a good one.

trublu
  • #479
  • Sep 23, 2011 12:17pm Sep 23, 2011 12:17pm
Quoting Ifmyante
very nice work

Here are my EU
Nice, looks like around the same place as me.

Just finished up for the week, mad last couple of days, smashed some personal bests

Have a good one all!
  • #480
  • Sep 23, 2011 2:25pm Sep 23, 2011 2:25pm
Quoting Ultimatus
Nice, looks like around the same place as me.

Just finished up for the week, mad last couple of days, smashed some personal bests

Have a good one all!

I too noticed how similar the trades were.

When to enter is pretty obvious. Same with when to exit, and when to reverse.

Just goes to show - Price is Everything
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