Romancing the Price

i've been tempted to close gold longs bit earlier but somehow managed to hold..




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edit: latest on gold and silver...

thursday, i carried on trading till early morning of the friday [european time].. then i hit the bunker when my charts started to look like low definition 3D..

got up late.. i think i started trading around london close.. then some business matters come up.. calls.. talks and some trading.. mainly stayed with gold






Only trade i took on gu.. late entry and late exit due to other matters in hand..




This eu scalp earned me 100 EUR beside 22 pips..
a friend came around near markets closing hour.. wanting to go out for a drink.. as we were talking in my trading room, he had a quick glance on my charts and said eu should be bouncing from 1.34, and i said it'll test sub 1.34 before doing anything else.. then we bet 100 eur.. additionally i sold eu on dying hour of the market just to show that i can put my money where my mouth was..



i entered and closed this trade on M1.. i don't usually trade on M1.. i don't have anything against M1.. i don't buy too much noise nonsense.. trader can trade any chart.. the reason i don't use m1 is that it doesn't suit my trading style.. i usually open multiple positions in multiple pairs.. monitoring all these different trades on m1 charts are simply is not possible for me.. however, if i was a robot with 100% attention quality, speed and precision, i'd only trade m1..

my friend wasn't so happy loosing the bet and paying all my drinks but after few drinks we both forgot about it.. after drinks i hit the bunker again as i felt like i was walking on water.. got up early and back to my charts and doing this post..

it's sad but i cannot live without my charts.. worst of all it's damn weekend and no markets for me to trade.. learning time..

i'm sorry to say but i cannot answer all the questions directed via pm individually.. simply i don't have enough time.. here are few of them for all to read..

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question:
"I've read all of your post in the subject romancing the price and i want to know if one day,you aim to show us our strategy???
For exemple, open a new thread with rules cuz when i read your post it's amazing how trade is simple but it's not the case.
Give me your business plan with all your decision plz:
-signal
-sl
-tp
-exit
...
I've understood how to lock pips but i've never seen on RTP or PIE how to earn pips!

For exemple, on PIE there is no many advice like a normal ebooks,it's 95% visual but i haven't a visual memory .

And does someone can explain to me why the price will make a bounce from a level where an institutionnal place an order???

Ps: i've watched all the sams seidens webinar(and many of this live s&d zone are false when we control) but i want more detailed enter,sl, profit, and the use of chaos semafor,..."

answer:
there are no special rules i apply all the time to all trades other than basic ones such as risk management, chart, candle patterns, trend and so on.. these can be learned freely using the Net.. there are no ends of free resources... teaching these basics are not within this thread's objectives..

sometime i take trades on purely supply and demand levels, sometime i await for candle pattern confirmation beside supply and demand, sometime just chart or candle patterns, certain psychological levels etc...

you don't need a photographic memory.. u need to understand what's on that photograph and learn then adopt it to your trading style.. you cannot simply memorize and copy.. it'll not work in trading... you have to UNDERSTAND the picture not memorize as it's..

lets look at it with analogy of cooking a cake.. lets assume we give a cake recipie to 10 different people and ask them to bake a cake using given recipie.. do you think all 10 cakes will look and taste same? i doubt it, as result will depend on many things from the quality of the ingredients used to skill levels..

even though everybody have same rules, results will be different.. becoming a good cake baker takes a lot more than learning basic rules..

consider a medical school.. 50 student graduates from same university.. same class.. taking same lessons.. finally they become doctors to practice.. will all 50 be commending same success or failure levels? we all have various degrees of talent but not necessarily in same area..

i'd say forget about trying to find a system or rules will consistently keep you profitable.. learn the basics and develop your own ADAPTIVE system that fits to your trading style.

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question:
"Just wondering, do you use a stop loss? Reason I ask is lately I am doing much better without using one. For me it is easy to tell which way to market is headed (by looking at higher time frame zones and trend lines), however I cannot always get the 5m zones correct so rather than taking a loss and reentering I have been entering again at the next zone down, then closing all when in profit.

I know this is probably going against all the 'good advice' out there but I cannot underestimate the psychological impact of taking a loss as well. Just wondering what you do.

Obviously I will use an emergency stop that is far away, and also as the market reaveals more information, then move it closer to my orders."

answer:
i only use stops in certain circumstances such as trades i leave overnight, unattended and high volatility periods where i have multi pair trades open. Other than these my stops and targets are all mental.

however, i'm not saying this the right way to manage your trade risks, it's just my way of trading.

while there are certain practicalities of mental stops for a scalper, we cannot ignore the downsides:
1. what happens when your net connection goes down and market moves wildly against you? (i maintain 2 ISP connections but both can still go down..)
2. unexpected big news blast
3. all your systems freeze and become nonoperational and so on.

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question:
"Forgive me for sounding stupid, but how in God's name do you pick tops and bottoms so accurately. I have been reading about supply and demand for months now, but your precision is incredible. How are you not making millions.... Lol"

answer:
you need to keep reading and studying to learn and understand, when you see the light you won't ask such questions.. for some, it may takes years to learn.. additionally, please see the first Q&A above..

i'm not picking tops and bottoms.. just reading the charts to the best of my abilities in context on supply and demand, patterns and overall market psychology.

not all my trades are full standard lots.. i use mini lots too depending on may exposure levels and probabilities..

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question:
"as long as I see your entery and studying them, I'm so curious, and wonder how to do those all entries.
sometimes u take very confident entries with 3 or 5times buy/sell in almost the same time.
I wonder what were the entry reason? and how did you determine that supply and demand.
do u use all the candle confirmation? like doji, engulfing, etc? or may be just few that indicates a strong reversal?"

answer:
please see the first Q&A above and below..

semafor.. i do not base my entries or exits on semafor.. i use it as a quick visual reference to highs and lows.. we all know the importance of identifying highs and lows of the time frame we are trading in.

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question:
"I am a relatively new live trader. I try for a while and when things start going the wrong way I put the trading on hold and go back to studying. On Monday I found myself wondering why I could easily pick the turning points, but I was almost always going the wrong direction with my trade. I know that Red would wait for confirmation with engulfing candles/patterns, so, I went back to research things and fell right onto the the Candlestick & Chart Patterns section of your rtp505 site. The information there immediately explained things that didn't sink in when I had read it elsewhere. I also went on to read and watch other pattern material on your site. Funny how it now seems so obvious. Loosing money sure sharpens concentration. I am only down about $17 on a $1000 account, but still very painful for me. Since digesting some of material on your site, I think I have only had on trade go against me, and in that case I knew I was right and I immediately re-entered at the better price and it went ahead and hit my target. Thank you for everything you have done to assist me and all of the others who are learning. Obviously, Red, Orbital and several others deserve our thanks also.

Regarding your M1 trade, did you happen to notice the triangle breakout prior to your entry? It almost perfectly matched the information on one of the videos on your rtp505 site. The breakout reversal was confirmed at about the upper line by the M1 candle and about at the lower line by the M5 candle. Price treated the lower line as resistance once it got below it when viewing the 1 minute candles. Price then moved a bit more than the distance as the height of the triangle when it entered from above - almost a perfect example of that in the video. I posted the image on PIE thread."

answer:
M1 entry based on much more simple reason.. we had strong sell off.. it's friday and close to big round number (1.34) my experience told me probabilities of price testing below the big round number (usually 80ish) is higher than bouncing from it in such conditions.. just traded according to my experience.. it wasn't guaranteed to work even though my experience said probabilities higher to price to test below the big number before doing anything else.. all i did was to trade probabilities..

same situation in a different day within different market psychology may have worked differently and i may not entered that trade in same direction.. this is a good example as to why i don't have any rigid rules when taking a trade or exiting.

additionally, i'd strongly recommend you to trade only micro lots with such a small account size until you become a proficient trader.. you'll know when that happens.

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question:
"I can spot S&D (S&R), but I really do not know what to do at these areas. Can you let me know what triger your entry? Did you base on candle pattern? Or just close the eyes and enter? Where is stoploss? How long did you hold your order? When did you use break even? What clues help you believe SEMAFOR holding to take your trade? Great thanks tp you and looking forward from your reply."

answer:
please see the first Q&A above and study PIE carts in the first post PDF file or rtp website resources and try to see why and where entries and exits are yourself.. it's the best way to learn.

started as soon as market opened..

some examples of small n quick scalps..






and better ones with metals.. silver n gold..



profitable and safe trading to all......

so far silver and gold are giving better returns..




additional details on the above slv trade



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latest couple more slv trades

managed to expand the lock.. plus couple more trades..




short closed

same story and same probabilities as friday's last eu trade..

shame i closed them bit too early..

few more trades from today...

some trades from today...












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edit:
couple more from today

couple from asian session..
eu and crude..

unfortunately, i didn't get any of those nice up moves as i was sleeping at that time..



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couple more..

mistake on gold trade...




couple more from today..




few more..

latest gold and silver trades closed..




gold and silver again..




few more..

sometimes drawing diagonals from significant highs and lows may yield benefits especially for targets and stops..

i don't use them often.. i was experimenting on silver.. what i see looks interesting..

couple of trades left open from asian session closed..




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edit:
crude quickie



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gold quickie




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silver quickie




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oz quickie




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silver and gold quickie





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and one more silver and gold quickie

crude was no quickie but gave more than targeted..

few more trades from today..













edit:
crude was graciously offering some more pips on the long side, so i couldn't refuse it..

other than small scalps, i haven't done any noticeable trades so far..

only trades left open before going sleep were crude shorts.. few pips shy of target..

as nfp approaching closed them.. i have no open trades other than my locked ones.. most likely i'll not take on any until nfp

some nfp trades..

silver was the star performer for me..







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edit:
few more..

i didn't have much of an opportunity trade gold as i was busy with others..
instead i got some of Kelly's gold..




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edit:
kelly has cheated me as there was more gold than he gave me.. no worries.. i went in for heavy assault and got some more..



edit 2:
kelly is too good for me.. i cannot get him.. not long after closing those shorts gold went south further 190+ pips

some more post nfp trades..









love nfp days...