It's ok . you can't win all the time.
you also tripled your risk when you traded EU and EJ and GU. Trade anyone of them.
you also tripled your risk when you traded EU and EJ and GU. Trade anyone of them.
- #1,702
- Dec 20, 2011 9:04am Dec 20, 2011 9:04am
Hey Anthony,
Keep your chin up!
I can give you some feedback on those trades, but then what do I know
I've struggled too, and I find it's because I'm hunting for trades, rather than just waiting and taking the really obvious ones.
I should add that I also took the GBUSD short that you did, but in retrospect it was the same mistake that (I think) you made with the other 2.
It's always best to take the trade when it's the first time that price has been to that level.
On your EURJPY chart, while it's true that the price never made it to the exact area where supply outstripped demand, you can see that prices came close to this area twice, and only missed it by about 10 pips or so. That would have soaked up a lot of orders.
The EURUSD chart shows that price had reached the supply zone once before as well.
And looking at the GBUSD chart?
What a mess-and I'm saying this to myself too. I was hunting for a trade, and it was clearly not on as the supply levels were all messed up on the hourly (I concentrate on hourly and 4 hourly charts). Also, just like the 2 previous examples, price had nearly reached the supply zone, and more importantly looking at Ken's BS Trading booklet, he also states that:
"A meandering kind of lazy move away is showing less demand almost a equal force so care is taken at those levels."
Obviously that's subjective, but in hindsight, prices did not move away when it first got close to the supply zone. That should have been another clue for us! But then again, we should have been short, or close to having an order triggered, when price reached 1.5555 on the 15/16th Dec (although I'm not sure the RR would have been 3.1 on that trade).
This is in direct contrast to the second supply area you have marked at EURJPY. That's the the kind of level we want-a massive supply area that has not been touched. Same as EURUSD at 3163(ish).
Hope that helps, and it's helped me to write that too
Keep your chin up!
I can give you some feedback on those trades, but then what do I know
I've struggled too, and I find it's because I'm hunting for trades, rather than just waiting and taking the really obvious ones.
I should add that I also took the GBUSD short that you did, but in retrospect it was the same mistake that (I think) you made with the other 2.
It's always best to take the trade when it's the first time that price has been to that level.
On your EURJPY chart, while it's true that the price never made it to the exact area where supply outstripped demand, you can see that prices came close to this area twice, and only missed it by about 10 pips or so. That would have soaked up a lot of orders.
The EURUSD chart shows that price had reached the supply zone once before as well.
And looking at the GBUSD chart?
What a mess-and I'm saying this to myself too. I was hunting for a trade, and it was clearly not on as the supply levels were all messed up on the hourly (I concentrate on hourly and 4 hourly charts). Also, just like the 2 previous examples, price had nearly reached the supply zone, and more importantly looking at Ken's BS Trading booklet, he also states that:
"A meandering kind of lazy move away is showing less demand almost a equal force so care is taken at those levels."
Obviously that's subjective, but in hindsight, prices did not move away when it first got close to the supply zone. That should have been another clue for us! But then again, we should have been short, or close to having an order triggered, when price reached 1.5555 on the 15/16th Dec (although I'm not sure the RR would have been 3.1 on that trade).
This is in direct contrast to the second supply area you have marked at EURJPY. That's the the kind of level we want-a massive supply area that has not been touched. Same as EURUSD at 3163(ish).
Hope that helps, and it's helped me to write that too
It's ok . you can't win all the time.
you also tripled your risk when you traded EU and EJ and GU. Trade anyone of them.
You are right Zamfir, I had tripled up my risk, at that time, I didn't know I placed a pending order at EUR/JPY =.= because I placed it last week, already forgot it. I rarely enter a trade using live order. Normally use pending orders
Hey Anthony,
Keep your chin up!
I can give you some feedback on those trades, but then what do I know
I've struggled too, and I find it's because I'm hunting for trades, rather than just waiting and taking the really obvious ones.
I should add that I also took the GBUSD short that you did, but in retrospect it was the same mistake that (I think) you made with the other 2.
It's always best to take the trade when it's the first time that price has been to that level.
On your EURJPY chart, while it's true that the price never made it to...
- #1,705
- Dec 20, 2011 10:02am Dec 20, 2011 10:02am
You are right Zamfir, I had tripled up my risk, at that time, I didn't know I placed a pending order at EUR/JPY =.= because I placed it last week, already forgot it. I rarely enter a trade using live order. Normally use pending orders
Listen to me, either trade EU or EJ. Do not ever trade both. These two pairs are highly correlated.
EU and GU are also correlated , but not as much as EU and EJ.
Wait a min, are you saying you put POs on both EU and EJ pairs?.
Listen to me, either trade EU or EJ. Do not ever trade both. These two pairs are highly correlated.
EU and GU are also correlated , but not as much as EU and EJ.
Thanks for that advice man. I have to open my eyes big next time
- #1,709
- Dec 20, 2011 4:44pm Dec 20, 2011 4:44pm
- Joined Oct 2010 | Status: full time beer drinker | 1,345 Posts
Never really realised how long it takes to make these markups until i actually made them. I know i'm a bit late but for what its worth here's what i saw.
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Guys please be careful, like Ken said it before:Volume very low in this days, market very thin, the institutions direct the market in their way...stay away and be pleased of the upcoming holidays
something getting wierd I think, I spoted some good levels quality, fill almost alll odd enhancer's conditions, as good SUPPLY, but price broke it after just a few pips rejection down... never touch my target since yesterday...
I know some major pairs against USD are all near their D1 or W1 Demand, but it was wierd...freak... fake....
price should go down after touching some of my good SUpply...
zzzzzzzzzzzz
pissed off by the market now
is that the meaning of DODGY MARKET like Kenneth said?
lolz
market manipulation at it's finest
a bit sad today
Ultimatus,
You are correct. This is an unstable time to trade, but a scalpers dream.
Manipulation is the order of the days ahead. The big players are at work. That is why this time of the year I get on the sideline until after January 1.
___________________________
huuufhhh...
Having same condition, mate. Yesterday till today, I have losses in a row
hahaha
hope next year will be our very best luck and forever will be.
keep on fire buddy. we'll surely drain the market back
I love PIE and RTP