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  • #1,061
  • Jan 12, 2012 10:37am Jan 12, 2012 10:37am
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This trade doesnt work so i see the SUpply at 9-11-11 so i take that short...

price is stalling near the ECB decision so that and the round number spooks me making me jump out +5 instead of waiting for my target as seen...

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  • #1,062
  • Jan 12, 2012 10:48am Jan 12, 2012 10:48am
Quoting Rsherl01
Attachment

This trade doesnt work so i see the SUpply at 9-11-11 so i take that short...

price is stalling near the ECB decision so that and the round number spooks me making me jump out +5 instead of waiting for my target as seen...

Attachment

Attachment
It was a really nice H4 supply, and as I said, price will usually come back to you if you get it wrong. Know that and your confidence will really grow
  • #1,063
  • Jan 12, 2012 11:01am Jan 12, 2012 11:01am
Great stuff IF,

As i say i know I am on the right track with regards my levels its just filtering out the bad ones and having the confidence to let them run is my problem at the minute. They all seem to work when I have no money on the table :-).

IMO it is very hard to trade by the 5min PA at these levels. As I said previously they give so many conflicting signals as in long wicks in the wrong direction/bullish engulfing in a Supply Zone. It is here that I am struggling but as you say it will only come with experience.

Thanks again and congrats on your great thread.
Happy trading for 2012
  • #1,064
  • Jan 12, 2012 11:03am Jan 12, 2012 11:03am
Quoting Rsherl01
Great stuff IF,

As i say i know I am on the right track with regards my levels its just filtering out the bad ones and having the confidence to let them run is my problem at the minute. They all seem to work when I have no money on the table :-).

IMO it is very hard to trade by the 5min PA at these levels. As I said previously they give so many conflicting signals as in long wicks in the wrong direction/bullish engulfing in a Supply Zone. It is here that I am struggling but as you say it will only come with experience.

Thanks again...
Thanks mate, and welcome

many would say to use m5 pa on the m5 tf, and the same for all others

See if this makes gives you a more profitable beginning
  • #1,065
  • Jan 12, 2012 1:51pm Jan 12, 2012 1:51pm
Quoting Ifmyante
Her'es an example of what I mean. Take a look at this area on H4, and see why I was happy to trade like this.

BTW, where would be a good idea for me to take some profit on running trade?
Nice trade!

If you don't mind me asking, how do manage your risk with these sort of trades? For example your first entry, where would the stop have been at?

Thanks for the help!
  • #1,066
  • Jan 12, 2012 1:55pm Jan 12, 2012 1:55pm
Quoting biDc
Nice trade!

If you don't mind me asking, how do manage your risk with these sort of trades? For example your first entry, where would the stop have been at?

Thanks for the help!
Hi biDC

all stops were above the h4 supply zone, each with a little room for a fakeout
  • #1,067
  • Jan 13, 2012 5:41am Jan 13, 2012 5:41am
This was on my radar also but didn't take the trade since it didn't appear to me to be a "fresh" level" to short.

Just want to get your views if you could on this trade....do you factor how often the level has been hit....or since it is a 1 min chart.....it isn't as important.....I know trading is discretionary.....just looking for any of your views/input.

Thanks,

Bill
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  • #1,068
  • Jan 13, 2012 6:12am Jan 13, 2012 6:12am
Quoting Atc
This was on my radar also but didn't take the trade since it didn't appear to me to be a "fresh" level" to short.

Just want to get your views if you could on this trade....do you factor how often the level has been hit....or since it is a 1 min chart.....it isn't as important.....I know trading is discretionary.....just looking for any of your views/input.

Thanks,

Bill
Hi Bill.

I was simply looking at it in m1.

If this was a weekly chart, wouldn't you do the same, and salivate at the prospect?
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  • #1,069
  • Jan 13, 2012 6:22am Jan 13, 2012 6:22am
Quoting Ifmyante
Hi Bill.

I was simply looking at it in m1.

If this was a weekly chart, wouldn't you do the same, and salivate at the prospect?

thx If

understand...wkly would have been outstanding....all the stacked orders...but on the 1M seemed to me, that the orders would have been somewhat eaten up ....just me i guess...always trying to learn
  • #1,070
  • Jan 13, 2012 7:47am Jan 13, 2012 7:47am
I've been thinking alot about it, and I feel I overreacted a while back.

I misread Mangalesh's future intentions as present ones.

If you're reading this, Mangalesh, know that I'd very much like to have you back on the team.

Hope to see you around here soon



If
  • #1,071
  • Jan 13, 2012 7:14pm Jan 13, 2012 7:14pm
Quoting Ifmyante
Her'es an example of what I mean. Take a look at this area on H4, and see why I was happy to trade like this.
.......
From the above chart I understand that you were adding to a looser but eventually the trade became profitable.
How often Does a situation like this turn into a loss and what is you criteria for a Stop Loss?
How many entries (with price going against you) will you be willing to take before you throw in the towl?

Thanks in advance for a reply

Gabe
Every rule has an exception. Except for this one.
  • #1,072
  • Edited 8:05pm Jan 13, 2012 7:38pm | Edited 8:05pm
Quoting Ifmyante
It was a really nice H4 supply, and as I said, price will usually come back to you if you get it wrong. Know that and your confidence will really grow
Sorry if I am pushing the issue but saying that "price will usually come back to you if you get it wrong" sounds too simplystic.

What is the criteria for an entry which we get WRONG for price to go back to it?
Surely not ALL prices will be revisited within a timeframe that will not cause a trader to lose his shirt?
Is it the 4H Stop you were writing about as the means to prevent a disaster?

Thanks again

Gabe
Every rule has an exception. Except for this one.
  • #1,073
  • Jan 14, 2012 10:03am Jan 14, 2012 10:03am
Missed...
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--Be in the NOW or get lost in time.--
  • #1,074
  • Jan 14, 2012 11:39am Jan 14, 2012 11:39am
Quoting Gabe2004
From the above chart I understand that you were adding to a looser but eventually the trade became profitable.
How often Does a situation like this turn into a loss and what is you criteria for a Stop Loss?
How many entries (with price going against you) will you be willing to take before you throw in the towl?

Thanks in advance for a reply

Gabe
If you're selling in, say, M15 Supply just beneath H4 Supply, you shouldn't worry about the trade going against you. If it breaks the H4 Supply, and then breaks, say, the next M15 supply above that, you can be pretty sure that this is more than a fakeout.

But when no news is due, you can be pretty confident that price will bounce between H4D and H4S, and the same for all other TFs. This is the very basis of how we trade.

See trades 9, 10 and 11 of my Thursday EU scalps for another example
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  • #1,075
  • Jan 14, 2012 11:45am Jan 14, 2012 11:45am
Quoting Ifmyante
If you're selling in, say, M15 Supply just beneath H4 Supply, you shouldn't worry about the trade going against you. If it breaks the H4 Supply, and then breaks, say, the next M15 supply above that, you can be pretty sure that this is more than a fakeout.

But when no news is due, you can be pretty confident that price will bounce between H4D and H4S, and the same for all other TFs. This is the very basis of how we trade.

See trades 9, 10 and 11 of my Thursday EU scalps for another example

Great post and trading If...
Illegitimi non carborundum - Noli pati a scelestis opprimi.
  • #1,076
  • Jan 14, 2012 12:27pm Jan 14, 2012 12:27pm
Quoting Miky
Missed...
but never forgotten...beautiful chart and illustration...ty
All systems of divination, like music itself,work through patterns.
  • #1,077
  • Jan 14, 2012 1:12pm Jan 14, 2012 1:12pm
Quoting kaspopsicle
but never forgotten...beautiful chart and illustration...ty
haha thank you

MIKY
--Be in the NOW or get lost in time.--
  • #1,078
  • Jan 14, 2012 2:01pm Jan 14, 2012 2:01pm
Quoting Ifmyante
If you're .........
trade.

See trades 9, 10 and 11 of my Thursday EU scalps for another example
Thanks for the explanations.

Do you or anybody think that this method could be automated?

Gabe
Every rule has an exception. Except for this one.
  • #1,079
  • Jan 16, 2012 3:44am Jan 16, 2012 3:44am
Quoting Gabe2004
Thanks for the explanations.

Do you or anybody think that this method could be automated?

Gabe
We have no hard and fast set of rules, so I feel that would be nearly impossible.

And anyway, where would be the fun in that?
  • #1,080
  • Jan 16, 2012 5:24am Jan 16, 2012 5:24am
Quoting Ifmyante
We have no hard and fast set of rules, so I feel that would be nearly impossible.

And anyway, where would be the fun in that?
exactly.
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