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Day Trading vs. Swing Trading vs. Position Trading 86 replies

Attachments: B.S. Trading with Kenneth Lee
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B.S. Trading with Kenneth Lee

Hi Guys,
I have been lurking this thread for awhile and trading it with positive result.
There are times when my PO was filled then the price just hanging around on that level for few hours after that it will move against me or in my favor.
How do you deal with this situation?
Quoting anthony_tzw
Hi Katman,

May I know where can I get that indicator? Which shows the daily high and low and the spread at the upper right corner of your chart. Besides that, I would like to know is there any indicator that can show where I enter and exit in the chart like yours? (the arrows and dotted lines). Hope to hear from you soon Thank you.
Hi anthony_tzw,

here is the indicator I use.
To show the entry and exit arrows is very simple, if your trade is closed open the history tab in your MT4, mark your trade and drag and drop it to your chart window, than the trade appears.Hope that helps.
Attached File(s)
File Type: mq4 !_rdb_Spread_Hi_Lo2 (1).mq4   14 KB | 448 downloads
Quoting katman
Hi anthony_tzw,

here is the indicator I use.
To show the entry and exit arrows is very simple, if your trade is closed open the history tab in your MT4, mark your trade and drag and drop it to your chart window, than the trade appears.Hope that helps.
Thanks. It helps a lot All the best
Quoting alterchristo
hey mate... I'm aiming the same zone
Odd Enhancers
RBD & fresh zone
price drop far away
next will see how price approaching this zone
same here
alterchristo are you the same guy I thought you were?
Attached Image (click to enlarge)
Click to Enlarge Name: eu.gif Size: 30 KB
Hey ken, how goes the diet change?
Quoting SMTrader
Thanks for the welcome TSD! I've been to many threads here in the past few years. This one feels the most like the perfect place to be for me. Hope to contribute to it well into the future.

What I posted was just a different read on things, in case others can find some of it useful. I'm certainly not always right. What I like about your PO in this case is that its sitting right on a good previous support, allowing for very tight stoploss. Not a bad trade, either way it turns out, imo.
Your Welcome.

No worries on the comments.. Have been to a few threads myself.. It can get a bit distracting to be sure.

Trade turned out good...The white line on the chart was my target...

I do like your input.. Additional info to consider

Thanks again'


TSD
Hi KL

On the UC...Would you consider the current PA to be a swap area?

Thanks for a great thread.. Most appreciated

TSD
Quoting Les_Paul
Hi Good Lookin, so according to your definition this is rather bad PA, am I right? PA is basing right below the level. What steps would you take? Wait for breakout and retest?

Thanks you

Les_Paul

Attachment
Well you can see now after the fact that a slowly approaching price doesn't help. But did you notice this?

Attached Image (click to enlarge)
Click to Enlarge Name: EurUsd Les 1.JPG Size: 232 KB



I didn't take this trade because i haven't had a good chance to spend some quality uninterrupted time infront of the screen. Been a bit busy this month
Quoting TraderinSD
Hi KL

On the UC...Would you consider the current PA to be a swap area?

Thanks for a great thread.. Most appreciated

TSD
Yes when you posted this it was 1.0180

you can see on the swing before it went down to 1.0120 it had turned price back a couple of times

on the way down on the last swing down you can see that price did bounce up almost 20 pips before breaking then price came back today and nearly touched the level 1.0178.on the 1 hr chart
Good Trading To All ; Ken Lee
Quoting Good Lookin
Well you can see now after the fact that a slowly approaching price doesn't help. But did you notice this?

Attachment


I didn't take this trade because i haven't had a good chance to spend some quality uninterrupted time infront of the screen. Been a bit busy this month
thank you, GL!!!

btw, anybody short EU?
My sell stop activated when price touched the Supply zone.

Lets see how it goes. I have another sell at the Fresh Supply above.
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd_M30_18.01.png Size: 22 KB
If I may, I think TSD was referring to USD/CHF, Kenneth. I'm looking at the same possible swap area that he was talking about. Your teaching about swap areas, where transfer of control from supply to demand happens, really has helped me to make sense of most movements on the charts and zero in on the areas of significance. Thank you so much for your generosity and willingness to help others like me see the light.

Here's my current view on this pair. Please tell me if I'm making a mistake.

@Good Looking -- your insight about being aware of nearby levels of support or resistance has also helped me to identify better entry and stoploss. In this chart, if price retraces back to my yellow line within the supply level, I will consider shorting it there, with stoploss above the blue lines above the area. (I would prefer to see price able to more decisively penetrate the support level that it's sitting on currently, before retrace back to the supply area.)

Again, anyone feel free to let me know if I'm misjudging something. Thank you.

Quoting Kenneth Lee
Yes when you posted this it was 1.0180

you can see on the swing before it went down to 1.0120 it had turned price back a couple of times

on the way down on the last swing down you can see that price did bounce up almost 20 pips before breaking then price came back today and nearly touched the level 1.0178.on the 1 hr chart
Attached Image (click to enlarge)
Click to Enlarge Name: uchf_sd_01182012.gif Size: 17 KB
Quoting Les_Paul
thank you, GL!!!

btw, anybody short EU?

I was...Closed it out a bit early. Need to focus on paper work now. Start closing out the year.
Illegitimi non carborundum - Noli pati a scelestis opprimi.
Quoting SMTrader
If I may, I think TSD was referring to USD/CHF, Kenneth. I'm looking at the same possible swap area that he was talking about. Your teaching about swap areas, where transfer of control from supply to demand happens, really has helped me to make sense of most movements on the charts and zero in on the areas of significance. Thank you so much for your generosity and willingness to help others like me see the light.

Here's my current view on this pair. Please tell me if I'm making a mistake.

@Good Looking -- your insight about being...

I personally don't like swap areas that are so wicky in and out of the zone. These wicks will often chew up whatever S or D may be in the area.

When it comes to a swap area I prefer a nice tidy change in power. Strong and decisive..But that is just me
Illegitimi non carborundum - Noli pati a scelestis opprimi.
Great trades, TSD Your entry, stoploss, and TP were perfect. Can't get any better than that. If we can keep finding similar low-risk trades like that one, with well-defined stoploss and TP, then we'll have succeeded at this supply/demand trading.

Quoting TraderinSD
Your Welcome.

No worries on the comments.. Have been to a few threads myself.. It can get a bit distracting to be sure.

Trade turned out good...The white line on the chart was my target...

I do like your input.. Additional info to consider

Thanks again'


TSD
Quoting Rufus
I personally don't like swap areas that are so wicky in and out of the zone. These wicks will often chew up whatever S or D may be in the area.

When it comes to a swap area I prefer a nice tidy change in power. Strong and decisive..But that is just me

Here is a chart showing what I like
Attached Image (click to enlarge)
Click to Enlarge Name: 1.18swap.jpg Size: 101 KB
Illegitimi non carborundum - Noli pati a scelestis opprimi.
I see what you're saying Rufus. This is exactly the kind of advise I seek. Love it! Now that you've pointed that out, I can see how price hasn't traveled far after exiting that swap area. Like you said, maybe the supply was all consumed and neutralized in all that wild action during swap. Makes complete sense to me.

Thank you, Rufus.

Quoting Rufus
I personally don't like swap areas that are so wicky in and out of the zone. These wicks will often chew up whatever S or D may be in the area.

When it comes to a swap area I prefer a nice tidy change in power. Strong and decisive..But that is just me
Quoting Kenneth Lee
Yes when you posted this it was 1.0180

you can see on the swing before it went down to 1.0120 it had turned price back a couple of times

on the way down on the last swing down you can see that price did bounce up almost 20 pips before breaking then price came back today and nearly touched the level 1.0178.on the 1 hr chart
Thanks..KL

Additionally, after the inital touch of a zone PA retracing back multiple times may indicate a potential swap zone.. Not always but odds go up.. Is there anything else that you would look at to indicate a potential swap level.. From were I sit one does not really know until it happens.. correct?

Thanks again

TSD
Quoting TraderinSD
Thanks..KL

Additionally, after the inital touch of a zone PA retracing back multiple times may indicate a potential swap zone.. Not always but odds go up.. Is there anything else that you would look at to indicate a potential swap level.. From were I sit one does not really know until it happens.. correct?

Thanks again

TSD

I have re posted the above chart but 30m.

The yellow circle to the far left is the swap zone. Now only look at the PA there. Notice how price rallied into this area only to be rejected? Finally the floor gave way and price free fell for almost 100 pips. So this can tell a trader that there are potentially a lot of sellers there. We do not know for sure until price returns which it did with the yellow circle to the right.

Hope this helps a bit
Attached Image (click to enlarge)
Click to Enlarge Name: 1.18swap30m.jpg Size: 93 KB
Illegitimi non carborundum - Noli pati a scelestis opprimi.
This is a general observation.. Anyone please chime in...

Ya Know...No matter what Chart or TF I look at today I see zones everywhere.

Actually they are begining to be rather easy to spot ( not that I am an expert..far from it ) Now that's a good thing and sometimes not so good as I do have to be careful in picking the right zones...Add to that GL's discussion regarding previous rejection areas makes finding the right zones much more accurate.

Thanks KL, GL and all who contribute to this thread.

TSD
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