Attachments: Price is everything

Price is everything

#24,641
Dec 5, 2011 7:35pm Dec 5, 2011 7:35pm

Dropped Onion
Joined Mar 2009 | Status: Saper Vedere | 1,431 Posts

shorted AU based on demand consumption. quick pop down. closing most here

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#24,642
Dec 5, 2011 7:39pm Dec 5, 2011 7:39pm

gristar
| Joined Jul 2011 | Status: Invest in yourself before forex | 299 Posts

Quoting Dropped Onion

Disliked

shorted AU based on demand consumption. quick pop down. closing most here

Ignored

This is real nice. I like this trade...

#24,643
Dec 5, 2011 7:44pm Dec 5, 2011 7:44pm

Dropped Onion
Joined Mar 2009 | Status: Saper Vedere | 1,431 Posts

Quoting gristar

Disliked

Attachment
Dropped Onion, bumapatria, Invisible, Sebastiaan76, Gloryrose, qp2, Vern182, calvk81, spicymonkey, jwint78, mrscooting, raymondroman, maknil
Any opinion?

Ignored

Hey G - price structure could be cleaner. there are better setups. current momentum is with buyers. this pair can be pretty slow around the Asia session

#24,644
Dec 5, 2011 7:45pm Dec 5, 2011 7:45pm

Gabe2004
| Joined Jan 2010 | Status: Simplicity | 155 Posts

Quoting Dropped Onion

Disliked

shorted AU based on demand consumption. quick pop down. closing most here

Ignored

I feel like an animal in a cage.
I see your demand zone but it does not look like a typical zone.
What can I do to see things like this with more clarity?
I don't think that if I sit in front of my monitors without some change, that I will be able to notice a setup like this.....

Every rule has an exception. Except for this one.

#24,645
Dec 5, 2011 7:54pm Dec 5, 2011 7:54pm

Venice
Joined Jul 2010 | Status: Weebley Wobbly Timey Wimey stuff | 10,604 Posts

Quoting Gabe2004

Disliked

I feel like an animal in a cage.
I see your demand zone but it does not look like a typical zone.
What can I do to see things like this with more clarity?
I don't think that if I sitt in front pf my monitors without some change, that I will be able to notice a setup like this.....

Ignored

Even the picture he posted up speaks a thousand words.

Hint: Notice the lower highs and lower lows? They are slight, but they are there.

Words to live by in the markets: We are short until we are long, and we are long until we are short. Not a moment sooner. Take my words in, see what we see in the charts. Keep placing orders, keep practicing. There is no shortcut to this, you must just keep pushing forward.

#24,646
Dec 5, 2011 7:56pm Dec 5, 2011 7:56pm

anthoniex
Joined Nov 2009 | Status: Trader | 1,093 Posts

Quoting Dropped Onion

Disliked

shorted AU based on demand consumption. quick pop down. closing most here

Ignored

Sweet!

#24,647
Dec 5, 2011 7:59pm Dec 5, 2011 7:59pm

Vern182
| Joined Oct 2011 | Status: Trader | 86 Posts

Gristar,

Just bgt Eur/Usd....
Swissy being inverse pair I 'd think your good...but I've been getting chewed lately so I might be off. I'm expecting large rally Euro.. wicks on all recent larger tf drops....But I have much to learn. Thats my two cents...V

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#24,648
Dec 5, 2011 8:01pm Dec 5, 2011 8:01pm

Dropped Onion
Joined Mar 2009 | Status: Saper Vedere | 1,431 Posts

Quoting Gabe2004

Disliked

I feel like an animal in a cage.
I see your demand zone but it does not look like a typical zone.
What can I do to see things like this with more clarity?
I don't think that if I sitt in front pf my monitors without some change, that I will be able to notice a setup like this.....

Ignored

To: caged animal....

notice what happens when price reaches a demand area. obviously every demand area will not hold. by definition, a demand area leads to aggregate buy orders (by volume) outnumbering sell orders - hence the rise in prices.

when you watch reactions at these prices, look at the first area that will act as a road block/resistance. when price struggles here, we take note. next, and importantly, this demand level is not the lowest demand zone from the point of the current rally. we know that price likes to trade at extremes, but we also know price will likely return to a fair value over time.

this gives us the opportunity to monitor demand zones and look for low risk buys OR if prices indicate that demand is being consumed, we know that open buy orders are likely filled, leaving way for sell orders to push prices lower - to the next demand level. give your trades time to work out. GLGT

#24,649
Dec 5, 2011 8:09pm Dec 5, 2011 8:09pm

Gloryrose
| Joined Aug 2011 | Status: Trader | 162 Posts

Quoting anthoniex

Disliked

Sweet!

Ignored

Me too. And the EURAUD

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#24,650
Dec 5, 2011 8:11pm Dec 5, 2011 8:11pm

Sebastiaan76
| Joined Feb 2010 | Status: Trader | 283 Posts

Gabe,
I totally feel ya! Looking back at DO's chart, it just looked like the obvious setup - but when all those other candles haven't happened yet it's really really hard to pull the trigger mid candle as it's looking bullish and approaching the highs.

I'm with you - I struggle to see all but the most obvious setups, and have many other issues I'm dealing with ( least of which is letting any of my trades go to any kind of target - i get out after 5 pips or so unless it really takes off ). I have a high hit rate, but often have to suffer drawdowns double my average win - and that has got me in trouble a few times!

anyway, just wanted to voice that you aren't alone - but..........we keep trying

Quoting Gabe2004

Disliked

I feel like an animal in a cage.
I see your demand zone but it does not look like a typical zone.
What can I do to see things like this with more clarity?
I don't think that if I sit in front of my monitors without some change, that I will be able to notice a setup like this.....

Ignored

- Look to the left, Trade to the right - I am the system

#24,651
Dec 5, 2011 8:12pm Dec 5, 2011 8:12pm

vasmiza
| Joined Nov 2010 | Status: Trader | 521 Posts

short aussie

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#24,652
Dec 5, 2011 8:12pm Dec 5, 2011 8:12pm

Gabe2004
| Joined Jan 2010 | Status: Simplicity | 155 Posts

Quoting Venice

Disliked

Even the picture he posted up speaks a thousand words.

Hint: Notice the lower highs and lower lows? They are slight, but they are there.

Words to live by in the markets: We are short until we are long, and we are long until we are short. Not a moment sooner. Take my words in, see what we see in the charts. Keep placing orders, keep practicing. There is no shortcut to this, you must just keep pushing forward.

Ignored

I sat in front of my monitors for more than 3 years putting my life on hold.
In hind sight that time was not used productively and i hope that I will not look at my current effort in the same way a few months from now.
There is something in this business that keeps eluding me.
I can figure mechanical and physical mechanisms and systems fairly easily but trading is a different animal.
I read a lot, watched many charts, wrote test routines to verify ideas and the results are nill.
I don't remember who gave the analogy about having many people with the same recipe but the end result tatste different from one person to another. I think that it's a good analogy. The question is: can trading be learned by anybody - given enough time - ?

Gabe

Every rule has an exception. Except for this one.

#24,653
Dec 5, 2011 8:19pm Dec 5, 2011 8:19pm

Gabe2004
| Joined Jan 2010 | Status: Simplicity | 155 Posts

Thank you Dropped Onion and Sebastiaan76.
I understand the concept but I am looking at it with maybe too rigid of an eye (the engineer in me).
Sometimes I feel like throwing in the towel but then I continue as I hate to admit defeat.

Every rule has an exception. Except for this one.

#24,654
Dec 5, 2011 8:30pm Dec 5, 2011 8:30pm

Czaray
| Joined Jul 2010 | Status: Digital color is dead | 164 Posts

Quoting Dropped Onion

Disliked

this gives us the opportunity to monitor demand zones and look for low risk buys OR if prices indicate that demand is being consumed, we know that open buy orders are likely filled, leaving way for sell orders to push prices lower - to the next demand level. give your trades time to work out. GLGT

Ignored

Hello, Dropped onion.
One point that I don't quite understand about consumption is how when Red points out that price is spiking, and leaving wicks, it is testing out levels, but a lot of times it is hard to tell on a chart if it is testing or just plain getting rejected, so it seems like a 50/50 game. What is the best strategy for this situation? Micro trendlines?
Best Regards
Czaray

Shapeshift greed and catch em' off guard

#24,655
Dec 5, 2011 8:33pm Dec 5, 2011 8:33pm

Dropped Onion
Joined Mar 2009 | Status: Saper Vedere | 1,431 Posts

Quoting Gabe2004

Disliked

Thank you Dropped Onion and Sebastiaan76.
I understand the concept but I am looking at it with maybe too rigid of an eye (the engineer in me).
Sometimes I feel like throwing in the towel but then I continue as I hate to admit defeat.

Ignored

Gabe - success and failure are two sides of the same coin. anticipate and don't expect. expectation leads to rigid reactions, whereas anticipation lets you react to price. expectation = drawdown; anticipation = flexibility + profits

give yourself 10+ trades and clearly identify why you are in each trade. then trade with conviction, meaning you give your trade the time to work out. this way, if you get in 10 trades for solid reasoning and they all (or mostly) don't work out - you KNOW there is something wrong. remain consistent and never worry about trades that you could have taken.

reduce your position size and work your way up as you are successful. nothing matters but the charts. remember - anticipate, don't expect and you will approach the finish line with much more than you started. GLGT G.

#24,656
Dec 5, 2011 8:42pm Dec 5, 2011 8:42pm