PhAnTi' : Thanks for the charts, Those areas are very important, But even trading higher time frames due to out side reasons Job , Life etc... I would still zoom down to find actual Supply and Demand levels to enter and lower risk.
Then enter using Po's if I can't be their full time. The choosing of those levels is pretty much what this thread is about, Taking S/R to a more precise level and actually seeing the spot where actual orders are waiting to make those moves.
But the key to anyone's trading is their ability to see price action for themselves. So many try and force themselves to see what others do and find they can't really understand. Just a thought.
I as well as each of us have a learning curve and will progress following what we believe and clearly understand. Different backgrounds,education and lifestyle will always come into that picture.
This is not aimed at you in particular just got off on a thought. hehe
But based on your charts I would personally still zoom down to a 30 minute to locate my entry levels , Because based on that time frame I could better afford a entry or two and still have a risk worth my personal effort.
Trading percentages is always the goal. but any trade that has a risk factor less than the other PIP wise allows itself to have a higher pip $ amount and even a extra penny or pence or so is a plus. As long as your within your own Money Management plan.
I have found that to be a very profitable way to approach trading bbut also one I struggle a bit with. Entering as a scalper but then being willing to hold as swing or position trader. I can get the entries. it is the holding that is tough. The Supply Demand levels are helping me to see Spot On those better profit targets , Which is one of my goals.
Cheers Ken
Hope everyone is ready for another great week.
Then enter using Po's if I can't be their full time. The choosing of those levels is pretty much what this thread is about, Taking S/R to a more precise level and actually seeing the spot where actual orders are waiting to make those moves.
But the key to anyone's trading is their ability to see price action for themselves. So many try and force themselves to see what others do and find they can't really understand. Just a thought.
I as well as each of us have a learning curve and will progress following what we believe and clearly understand. Different backgrounds,education and lifestyle will always come into that picture.
This is not aimed at you in particular just got off on a thought. hehe
But based on your charts I would personally still zoom down to a 30 minute to locate my entry levels , Because based on that time frame I could better afford a entry or two and still have a risk worth my personal effort.
Trading percentages is always the goal. but any trade that has a risk factor less than the other PIP wise allows itself to have a higher pip $ amount and even a extra penny or pence or so is a plus. As long as your within your own Money Management plan.
I have found that to be a very profitable way to approach trading bbut also one I struggle a bit with. Entering as a scalper but then being willing to hold as swing or position trader. I can get the entries. it is the holding that is tough. The Supply Demand levels are helping me to see Spot On those better profit targets , Which is one of my goals.
Cheers Ken
Hope everyone is ready for another great week.
Good Trading To All ; Ken Lee
.... i do pick certain levels on the lower timeframes to enter my trades of course.
