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Price is Everything Chat Room

  • #1,941
  • Apr 27, 2012 4:30am Apr 27, 2012 4:30am
Quoting Fx7877
If,
In relation to the chart & homework, may i ask if a SS zone is invalidated if the price bar cuts straight thru without respecting it?

Also, see my other question in the chart. Just wanted confirmation from experienced traders like you. Thanks
May I just ask one thing first?

What's a SS zone?

Yes, I'm that thick
  • #1,942
  • Apr 27, 2012 5:08am Apr 27, 2012 5:08am
Quoting Ifmyante
I think you're talking about supply here

You can get a much better view with help from the LTFs
I asked where the ideal place to short would be.

(sorry Justin, I've just seen your response)

But here it is

I scalped heavy from here, and have just taken most off. So even if the level breaks, I'm still in profit

Does this make sense?
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  • #1,943
  • Apr 27, 2012 5:20am Apr 27, 2012 5:20am
Quick question If.... i'm still looking around on higher TF and catching good stuff etc. Essentially pleased all round atm....

BUT i do want to expand my understanding on lower TF trading and practice a lot.... so.... how to pick the right pair?

currentlly i miss a lot of low TF stuff as i'm monitoring multiple pairs. should i practice on just one or two pairs and just wait for setups rather than scouring loads?

If just one or two - the higher liquidity pairs? Red mentioned the majors are a shitter...

ta.

PS - that wasn't quick at all.
  • #1,944
  • Apr 27, 2012 6:02am Apr 27, 2012 6:02am
posted this in J16... took the QM. yum. Might be good on the retest.
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  • #1,945
  • Apr 27, 2012 6:06am Apr 27, 2012 6:06am
Quoting beebolbod
Quick question If.... i'm still looking around on higher TF and catching good stuff etc. Essentially pleased all round atm....

BUT i do want to expand my understanding on lower TF trading and practice a lot.... so.... how to pick the right pair?

currentlly i miss a lot of low TF stuff as i'm monitoring multiple pairs. should i practice on just one or two pairs and just wait for setups rather than scouring loads?

If just one or two - the higher liquidity pairs? Red mentioned the majors are a shitter...

ta.

PS - that wasn't...
As you can imagine, the answer to this question is - it's totally subjective.

When you've mastered every setup there is, you can open any M1 chart and start trading immediately, taking every pip there is, this way and that.
But this is very time consuming, and wouldn't suit many traders who would rather an easier working day.

Another method is to only use your favourite setups over many pairs.
This, for me, involves searching through price history and finding big decisions in the past at key zones, where I know price will react in the future. These should always be good for scalps at least.

If you know you'll be by your computer for the next while, you can set limit orders there, and watch your trade box to see if they're close to tiggering.
If a number of them are near triggering at the same time, look to the charts and decide which of them have the most room to react - some of them may have solid flags just before the level, and some may have lots more room to the last flag. You don't want too many trades on at once, so cancel the ones with the closest tgs, and keep as many of the others as your MM allows.
You could always, of course, set alerts for price approach, but this means setting only alerts for these key prices - you know how you can have so many alerts you tend to ignore them all!

Trading, for me, is alot like poker. I'll change my styles alot, not to keep the opponents guessing, but to keep some variety in my work.
  • #1,946
  • Apr 27, 2012 7:01am Apr 27, 2012 7:01am
Quoting Ifmyante
Trading, for me, is alot like poker. I'll change my styles alot, not to keep the opponents guessing, but to keep some variety in my work.
thanks for that reply... you're right, i kind of knew what was coming but i like your ideas for watching stuff arrive, mainly because i've naturally been using limit orders to alert me to areas already so that's validated something for me.

I noticed from a vid of yours you had FTP installed. Did you lose much when they went? I had some in there with them - not much but

trading is my poker now.

Do you prefer tourney or cash? I like 6 handed cash games. online of course. I dont think i could play live. Mainly due to the huge grin and little dance i do when i hit a big hand
I do the same when i hit a biggie trading... such a kid.
  • #1,947
  • Apr 27, 2012 7:24am Apr 27, 2012 7:24am
Quoting beebolbod
thanks for that reply... you're right, i kind of knew what was coming but i like your ideas for watching stuff arrive, mainly because i've naturally been using limit orders to alert me to areas already so that's validated something for me.

I noticed from a vid of yours you had FTP installed. Did you lose much when they went? I had some in there with them - not much but

trading is my poker now.

Do you prefer tourney or cash? I like 6 handed cash games. online of course. I dont think i could play live. Mainly due to the huge grin and...
No big loss when they went down. Was a lovely platform tho.

I've gotta tell you, poker has gotten soooooooooo much easier now.
There's so much less to read than in trading.
I like tourney, but cash is the easiest money for me.
And live is easier again. Keep mixing it up, mislead often.
If trading ceased to exist, I know what my career would be
  • #1,948
  • Apr 27, 2012 7:33am Apr 27, 2012 7:33am
Quoting Ifmyante
No big loss when they went down. Was a lovely platform tho.

I've gotta tell you, poker has gotten soooooooooo much easier now.
There's so much less to read than in trading.
I like tourney, but cash is the easiest money for me.
And live is easier again. Keep mixing it up, mislead often.
If trading ceased to exist, I know what my career would be
yah i preferred the platform. I use a mac at home and they nailed the mac platform.
Where do you play now? Did stars fold too?
  • #1,949
  • Apr 27, 2012 7:39am Apr 27, 2012 7:39am
Quoting beebolbod
yah i preferred the platform. I use a mac at home and they nailed the mac platform.
Where do you play now? Did stars fold too?
Stars is still around, and looking much better now
  • #1,950
  • Apr 27, 2012 8:20am Apr 27, 2012 8:20am
Great weekend to all. thanks for all the advice etc.

I'm off to France for the weekend to eat drink and be merry.
  • #1,951
  • Apr 27, 2012 8:59am Apr 27, 2012 8:59am
Quoting beebolbod
Great weekend to all. thanks for all the advice etc.

I'm off to France for the weekend to eat drink and be merry.
Bon voyage mate

Have a great time
  • #1,952
  • Apr 27, 2012 5:15pm Apr 27, 2012 5:15pm
OK. More homework.

I've debated with myself whether to post this most simple bit of homework.

It's the basis of most of my and every other S/D trader's trades, therefore I've seen it as too elementary to teach. But really it's the most important thing I ever found in trading, so it would be remiss of me to omit it.

If you haven't done this before, I want you to find not 20 setups this time, but 200 of them, in every tf and on every pair. It's not that difficult - there are a multitude of them on every chart.
I want you to even find examples in the middle of ranges - totally unimportant levels, and see what happened when price returned - believe me, knowing where they are can turn a losing trade into a winner (more on that if I ever decide to teach how to actually trade)

Enjoy

If
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  • #1,953
  • Apr 27, 2012 6:49pm Apr 27, 2012 6:49pm
Ok. Nice assignment for us not so sure s/d traders.
  • #1,954
  • Edited 9:20am Apr 28, 2012 5:41am | Edited 9:20am
Quoting Ifmyante
It's the basis of most of my and every other S/D trader's trades, therefore I've seen it as too elementary to teach
i believe working on the fundamentals is one of the most important things you can do. everything else you do as an SD trader derives from your fundamental skill to identify RBD/DBR and RBR/DBD. you know, as they say.. working on an house with weak foundations is hopeless.

when i was doing this the other weekend i found a pattern that would break the SD zones.. it was all about price arrival.. when you look at all those zones that failed and succeeded.. look at how the candles behave on arrival.. you start to see a pattern.

i'll probs do a bit more of this homework later today (has become a weekend ritual now) after a big nice ploughman's lunch with some peeps.

laters
  • #1,955
  • Apr 28, 2012 6:17am Apr 28, 2012 6:17am
Quoting Tyoon
i believe working on the fundamentals is one of the most important things you can do. everything else you do as an SD trader derives from your fundamental skill to identify RBD/DBR and RBR/DBD. you know, as they say.. working on an house with weak foundations is hopeless.

when i was doing this the other weekend i found a pattern that would break the SD zones.. it was all about price arrival.. when you look at all those zones that failed and succeeded.. look at how the candles behave on arrival.. you'll start to see a pattern.

i'll probs do...
Yup - arrival is a big deal. As is the bigger picture. I'm hoping to see some real insights into failed setups.
  • #1,956
  • Apr 28, 2012 9:17am Apr 28, 2012 9:17am
Quoting Ifmyante
As is the bigger picture.
YUP! i assume your thinking what i am thinking.. big pic = market sentiment. very important study for me atm.. especially to get the higher prob setups.
  • #1,957
  • Apr 28, 2012 9:28am Apr 28, 2012 9:28am
OK. Daily AU showing failed DBR level. Price moved into the level rapidly and then right through it. The level on daily chart is difficult to define. Next post 4H coming up.
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  • #1,958
  • Apr 28, 2012 9:33am Apr 28, 2012 9:33am
Here is 4H of same level. The DBR is very spiky. No real basing. But my understading is that when price spends little time at a level that makes it more powerful. Price did return to the failed level later and then it was rejected.
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  • #1,959
  • Apr 28, 2012 9:44am Apr 28, 2012 9:44am
The level even on 15m is spiky. No time at all spent here. To me this indicates very strong buying here but as you can see in the next chart price went right through the level. Later when it revisited and was again rejected. So obviously sellers now in this area. Not sure but seems like even though this looks like a demand area, the big institutions had this level targeted for selling when it reached it again.
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  • #1,960
  • Apr 28, 2012 10:20am Apr 28, 2012 10:20am
I think the answer was more simple. Looking to the left the ignored level is likely due to this not being a fresh level.
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