thanks for the pizza RED.. trully enjoyed..
5000 pesos on their way to you...
some gold trades from last friday
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some silver trades from last friday
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and couple of Tequila Sunrise
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safe trading week to all.......
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never had enough time to post my reasoning for the entry, waited for the earliest signs of bearish tone which l posted in here and sold, accepted the loss before entry if it did't go and thats it
locked in
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resolved bearish flag
price arrival @ demand zones, PA watch, execute buy if you recognize a bullish pattern and accept the loss before your entry if it doesn't go
RR - the newly created s/r zone would be the tg area for the buy if it develops
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lets trade KZ
with the price action looks on supply demand, and support and resistance. i am more of a cycle-trader (newly-made), but i dont mind taking trades out of cycle, and those easy simple ones. About supply adn demand, most of us take bounces around the accumulation clustering of candles of that area and/or look for rejections to go to the initial side, aka pinbars, rejection wicks x2 or more, inside bars, etc. Supply and demand can also be used as a 'busted' breakout trading sort of deal. its not the safest way to trade it, but as supply or demand level is used the more it is less respected by the market, aka its dynamic. psychology in the market is dynamic as well, because if it isnt we will always be ranging this whole time. About busted trading setups here is a setup i had in silver last week. You can tell how busted it is, by how many times that level was used, and how price reacted gradually on that level over time. i used bad euro data to trigger my short at busted demand level.
couple of recently closed trades.. silver n gold..
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i don't add much details to my charts.. reasons:
1. i do a lot of scalping with multiple lots in multiple instruments.. simply no time
2. i strongly believe that trading is not thought but LEARNED.. instead of asking me ask yourself.. why this guy took this trade? then check on your charts like on the charts below .. find the levels.. look at the PA and see if it makes any sense to you.. believe me you'll learn a lot better and faster this way.. it's not an easy way...
I totally agree with the bolded statement. Sir kenny, do you trade silver and gold in the same usual 5 min as your currency trades? i use sup/dem as a base on gold, and use 15m, and gold has to be respected that it has a sort of behavior to act differently from euro/usd, and this and that. its unique like almost everything in forex. i find silver a handful when not trading the news. spread, and the wide stop loss for me is more risky. silver and gold aside, beatiful trades my friend
and tips-wise anything about contradicting positions like the...
hi buma,
i enter some trades on higher time frames but they are few and between.. majority of my entries and exits happens on M5, regardless of instrument traded.. however, this doesn't mean i don't quickly look higher time frames before entries..
if you are referring to buy and sell trades on gold chart, they are locked trades.. i have tried to explain how i employ locking.. please see here:
http://www.forexfactory.com/showthre...27#post4963927
you are welcome to post your trades on this thread..
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recently...
