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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

I agree with Rufus about swap areas. Think of it like being in a knife fight. You REALLY don't want it to be exchanging blows. Sure you may have won but in the end would you have been better off not being in it in the first place? You'd much rather just be a 1 or 2 hit wonder and win it.

Silly metaphor but you get the picture
Quoting hcristea
My sell stop activated when price touched the Supply zone.

Lets see how it goes. I have another sell at the Fresh Supply above.
I did have a PO set at the level you shorted. Then once the spikes came close I deleted it. Spikes up so close eating all supply to me. I didn't like how it arrived. We had a zone roughly 25 pips wide. I include the 5 pips above that we add for our zone's. Zone was about 20 pips wide with entry and add 5 over high and we got 25. So at that point I need a minimum of 50 pips. 2807 put us at 50. Its at the end of candle wicks not at a base. To me not 2 to 1 so its scratched immediately. Now you can scalp it and look for 10 to 15 and would of got it. I am not sure how you are managing the trade since its still active. Hey it may drop 50 pips but remember we are coming out of a WEEKLY demand zone.

On your chart where you have that next supply zone I am sitting there also waiting. Also if this level breaks look for this to be a swap zone because it will retrace back to it at some point. Also have same demand zones marked. Good luck and nice charts buddy.
Something else I have notice and I think KL had mentioned this are some point. I could be mistaken??

When looking at multiple TF... Example USD/CHF... Shorter TF's 5M, 15M, 30m... We are seeing a Drop>Base>Rise? The 5M has an area starting at 9420... Moving to the 15M and 30M you can this set up as well...I have noticed is the larger TF's as well.

Question for KL...
Is this a good indication that this particular Drop>Base>Rise pattern may be a better than average set up... OR... Am I just imagining what I want to see and that all various TF's are just TF structural differences but really do not up the odds in our favor?

Thanks
TSD
Quoting Seneca pilot
Hi all. I have been using Sam Seiden's methods for a while and am having good success. I am having a little trouble with one concept Kenneth speaks of in the PDF dealing with flips. When the demand or supply area are broken Kenneth then shows this flipping to the opposite (supply changes to demand and demand to supply) I am not clear on the location of the stop for this type of entry. would someone be kind enough to explain stop placement for these entries.

Thanks!
See the following . I have to say previous to me studying Supply and Demand trading I wasn't fond of breakout trades. But now that I have a better understanding of the levels and the way they interact. i am liking them. The key as with all our trades is to find that level. Not just take the trade because it broke out. There is a level there somewhere. . But there are plenty of opportunities to not HAVE to trade any level you don't feel 100% about

We can see by the above post that we are looking for a level to form below our swap level which in this case it would work out but in a strong trend one touch should be all we get for the next leg down .

The funny thing I see is we are talking about the same levels being trade yes more orders came in making price move away more but we don't always get that second change.

As far as the other threads .To be honest I have never really looked at them . i find just as is happening on this thread that it evolves into something else. My goal personally is to trade price action as bare as possible. And we can see many post with indicators and pivots and other items added. Which isn't all bad , just not my style I hope everyone continues as we have a great thread going . I just can't contribute to those discussions as I don't use them .

Thanks for everyone keeping this going as i don't post as much as used to..

Cheers Ken
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Good Trading To All ; Ken Lee
Quoting TraderinSD
Something else I have notice and I think KL had mentioned this are some point. I could be mistaken??

When looking at multiple TF... Example USD/CHF... Shorter TF's 5M, 15M, 30m... We are seeing a Drop>Base>Rise? The 5M has an area starting at 9420... Moving to the 15M and 30M you can this set up as well...I have noticed is the larger TF's as well.

Question for KL...
[color=black][font=Verdana]Is this a good indication...
The lower time frames allow entries with lower risk as the levels should be narrower. The faster charts is where you will find price making it's turn first it is just common sense .

If we take time to really watch Sam's videos he is spotting levels off daily and weekly charts then zooming down to a 2 min chart to catch the actual turn when price comes to those levels. This makes risk less. it can also allow us to get the best entry that will go into profit quickly and be at a spot where price will not re visit.

If we wait for confirmation of another candle or such we will find it hard to get the best entries.
Good Trading To All ; Ken Lee
Quoting SMTrader
@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.)
That base you have there doesn't qualify as a level for me. What would be your profit target?
Yes GL, I know now that it's not an optimal choice for supply level. Rufus pointed this out to me earlier too. If price were to come up to it agian, I probably would hold off on it and wait for higher probability setup. But since you asked, my targets and stoploss would have been set as marked in this chart.

Looking ahead, the level we're stalling at right now (between 0.9384-0.9410) might very well be forming a base itself, am I right? If price drops with some velocity from here, would this qualify as a good drop-base-drop supply level?

Quoting Good Lookin
That base you have there doesn't qualify as a level for me. What would be your profit target?
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one of Sam Seiden's odd enhancers is structure, it means where are we in the bigger picture.
actually I'm not really underestand this one...
would someone please explain me, how to see that?
and what to do? or something
Simplicity Is The Ultimate Sophistication ~LDV~
Quoting alterchristo
one of Sam Seiden's odd enhancers is structure, it means where are we in the bigger picture.
actually I'm not really underestand this one...
would someone please explain me, how to see that?
and what to do? or something

The bigger picture is the daily trend. On the EU The daily trend has been down for some time. However the hourly is up. So the bigger picture is down.
Illegitimi non carborundum - Noli pati a scelestis opprimi.
Quoting SMTrader
Yes GL, I know now that it's not an optimal choice for supply level. Rufus pointed this out to me earlier too. If price were to come up to it agian, I probably would hold off on it and wait for higher probability setup. But since you asked, my targets and stoploss would have been set as marked in this chart.

Looking ahead, the level we're stalling at right now (between 0.9384-0.9410) might very well be forming a base itself, am I right? If price drops with some velocity from here, would this qualify as a good drop-base-drop supply level?
Sorry i took so long to reply. Just came back from the gym.

It was really a trick question. Check the chart!
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Thank you, GL. Your insight is really appreciated. I will take your advise and focus even more on seeing bases as my main "framework" in which price bounces back and forth. My other support and resistance lines are actually there only to give me a better places to put my stoploss and possibly to take profit when ahead of major levels.

Thank you again, GL!
Quoting hcristea
My sell stop activated when price touched the Supply zone.

Lets see how it goes. I have another sell at the Fresh Supply above.
Hey... howyadoin'

got in at about the same level but a few hrs later ... when I saw it . In on a market order.

Lou
Quoting Rufus
The bigger picture is the daily trend. On the EU The daily trend has been down for some time. However the hourly is up. So the bigger picture is down.
thank you rufus...
Simplicity Is The Ultimate Sophistication ~LDV~
Quoting Rufus
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
Thanks Rufus..Most definitely..

thanks

TSD
Quoting SMTrader
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.

Thanks SMT

Hope to find more.. Trade set ups now become much more clear..

The addition of looking left, looking for previous rejection areas that line up with current fresh zone, per GL, has really helped define what areas may be the better trades. Where to place my PO

TSD
Here is a tip that might help some traders here.

Once you get your position on and you feel that you must monitor it. Look at no less than a 15m chart. It helps me. You loose a lot of market noise and it may help to become more relaxed. After all price action is not affected by us watching our position.
Illegitimi non carborundum - Noli pati a scelestis opprimi.
Quoting Rufus
Here is a tip that might help some traders here.

Once you get your position on and you feel that you must monitor it. Look at no less than a 15m chart. It helps me. You loose a lot of market noise and it may help to become more relaxed. After all price action is not affected by us watching our position.
Yep i would watch M5 at the beginning and lose more than win because every bump i would get out. I also have had more success trading recently by setting PO's. Let it do its thing and get paid. But I have lost one too. Was up around 36 pips and TP was at 40 pips. Missed it by a few and then got stopped out. I didn't trail it or anything. Just set it and left the house to go play hehe. Lost a big trade last night watching. Entered again with a Po and went to sleep. Woke up with a recovery of my initial loss and extra cash. trying to be like you Rufus with those Po's. As its the true way to trade. Set and forget with rinse and repeat.
JUST STAY FOCUSED ON THE PLAN AND YOU WON'T END UP LIKE THIS.



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oldies but goodies
Good Trading To All ; Ken Lee
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Quoting Kenneth Lee
JUST STAY FOCUSED ON THE PLAN AND YOU WON'T END UP LIKE THIS.



http://www.youtube.com/watch?v=wU1pD4xPe2M&NR=1&fmt=18

http://www.youtube.com/watch?v=AYrpROr9Gmk


oldies but goodies
Thanks for sharing, Kenneth
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