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Price is Everything Chat Room

  • #2,641
  • May 18, 2012 6:27am May 18, 2012 6:27am
Quoting MitchWorse

Just keep marking everything on your charts and see how price reacts.

Takes a lot of time and effort, but when it clicks you will be happy you did.
We're such a bunch of geeks. Soon to be (or already are) profitable geeks.

Was funny, I shared one of Ken's trades (which you can follow here (http://www.acegazette.com/index.html) now if you like) on Facebook and a few of my friends were like 'wtf is that? looks like a load of squiggly lines.' Yup, damn right squiggly lines. Eventually be able to read it like a book.
  • #2,642
  • May 18, 2012 6:28am May 18, 2012 6:28am
Quoting fxganstah

So much to read, so little time ...
I'm sure you're only joking about that

because time is something you're gonna need loads of to get trading right

Sure, we're fast tracking the theory lessons in here, but putting it into practice successfully will take quite some time
  • #2,643
  • May 18, 2012 6:34am May 18, 2012 6:34am
[quote=fxganstah;5679827][quote=Ifmyante;5629245]

(This is in rerply to post #2035)

Hi IF,

Im new to this thread, and very much grasping the concept of PA ... I appreciate all your help for us newbs..

I have a few questions if i may ask ..

2 important things i read about everywhere are compressions (cp) and flags ... Im finding it difficult to understand the importance of these 2 during price action setups or what to do when price approaching them...

Could it be possijble to exeplain what is the meaning/relevance (not definition) of compression and flags when it comes to PA.

Also, i absolutely love your post above quoted ... Im trying to answer all the questions u mention while backtesting ... The thing is, im not too sure what to expect haha (sounds dumb i know) ... Like for eg. when the price is falling in demand and When u ask .. "Has the price compressed into the zone ...." if yes, do we buy? Or is that a bad sign, so stay away? Same thing for other questions ....


Hi Ganstah,

I truly agree that all the answers that you are looking for are present here in this thread. If you can, then take all the homework that If has posted, try to do them yourself and then read all the replies that have been posted after the homeworks. I promise, you'll find everything you need if you do that!
If's last video is about compression, a must watch in my opinion.

Last thing, since you know how compression and flags look like, maybe it would be a very good exercise to search for them on your charts and then look at how price reacted to them.

Good luck with your learning journey! Get ready and Fasten your seat belt because what you are about to discover will push your trading to the next level!

Mel
  • #2,644
  • May 18, 2012 6:37am May 18, 2012 6:37am
Mitchworse,

Just saw your V! Thank you very much. I appreciate it!
Mel
  • #2,645
  • May 18, 2012 6:43am May 18, 2012 6:43am
Quoting Ifmyante
I'm sure you're only joking about that

because time is something you're gonna need loads of to get trading right

Sure, we're fast tracking the theory lessons in here, but putting it into practice successfully will take quite some time
Hi IF,

Lol what i meat was so little time i get during the day to trade, let alone read ... Hence i said so much to read, so little time .... Lol ... No offence was intended.

Ps: im a newb to price action trading, but have been trading the markets for quite sometime. I just wanted to take my trading to a whole new level... Will try to follow as much as i can, and participate ... Thnx fellas
  • #2,646
  • May 18, 2012 6:45am May 18, 2012 6:45am
Quoting whiteout
Aud/Cad looks very cp too.
Few trades this week, no much time, [few time= more homework than trade]
but this fuc*** cross is mine.

entry was a little shitty, but momentum up was so big [passed easly on a lot of point that i have marked on m1- and since there was a reaction on everyone of them, they were probably all good], and whit this crazy cross y need precaution [a condom trade, lol].

ps: m1 is pepperstone razor feed, the fxpro feed [i have triggered the trade on fx] is shitty on this cross
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Sometime the horizon disappear. Twitter: @_whiteout
  • #2,647
  • May 18, 2012 7:01am May 18, 2012 7:01am
Quoting Ifmyante
I'm sure you're only joking about that

because time is something you're gonna need loads of to get trading right

Sure, we're fast tracking the theory lessons in here, but putting it into practice successfully will take quite some time
Really a lot of time.
At this point i have realized that trading is easy, unfortunately people are complicated. I am complicated, traders are complicated. To reach the kiss confidence - keep it simple, stupid - and build the confidence you need to trade you have to invest time, and most important thing, you have to focus on the right thing since there is a lot of noise around [just like in a chart.]

Anyway if, i work in the publishing industry, so if you have some material to paginate [even a list of selected post, like the list of ml] to produce high quality pdf, just pm me, i will be pleased to invest time into this
Sometime the horizon disappear. Twitter: @_whiteout
  • #2,648
  • May 18, 2012 7:01am May 18, 2012 7:01am
Quoting fxganstah
Will try to follow as much as i can, and participate ... Thnx fellas
There is no shortcut

Forget everything you know, delete all indies, watch price and mark all the points where the balance between buyers and sellers shifted.

Then study how price acted just before those points.

ps. You will screw up, but we all do...even IF has no 100% score . Just keep your MM tight.

Quoting @mel
Mitchworse,

Just saw your V! Thank you very much. I appreciate it!
Mel
helpfull posts
  • #2,649
  • May 18, 2012 7:17am May 18, 2012 7:17am
USDCAD DAILY
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DM if you have any questions
  • #2,650
  • May 18, 2012 7:18am May 18, 2012 7:18am
Quoting jkrick33
USDCAD DAILY
If you're short up there, well done J
  • #2,651
  • May 18, 2012 7:21am May 18, 2012 7:21am
Would this be a nice area to sell Ozzie .............
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Pipcrawler
  • #2,652
  • May 18, 2012 7:24am May 18, 2012 7:24am
Quoting xmzhang
Would this be a nice area to sell Ozzie .............
see the m30 flag on approach

handle with care
  • #2,653
  • May 18, 2012 7:26am May 18, 2012 7:26am
Quoting xmzhang
Would this be a nice area to sell Ozzie .............
I just did, 1st target @ lower demand pocket
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Pipcrawler
  • #2,654
  • May 18, 2012 7:28am May 18, 2012 7:28am
Quoting xmzhang
I just did, 1st target @ lower demand pocket
very sensible indeed
  • #2,655
  • May 18, 2012 7:44am May 18, 2012 7:44am
Quoting Ifmyante
see the m30 flag on approach

handle with care
Thanx for your reply, is this the 30m-flag you mentioned ? If so then the target is very nearby and it's better to wait for that flag to taken out by price via a engulfing price action, right ?

Regards,
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Pipcrawler
  • #2,656
  • May 18, 2012 7:49am May 18, 2012 7:49am
Quoting xmzhang
Thanx for your reply, is this the 30m-flag you mentioned ? If so then the target is very nearby and it's better to wait for that flag to taken out by price via a engulfing price action, right ?

Regards,
It really depends on the strength of the level and the pa on immediate approach

You can be pretty sure that price will react to the approach flag, so you may watch pa after it reacts. CP back up to the original entry point would be ideal

Also, watch the correlated pairs to better judge the scenario
  • #2,657
  • May 18, 2012 7:54am May 18, 2012 7:54am
Quoting xmzhang
I just did, 1st target @ lower demand pocket
Close partially @ 9873, looks like price made a flag, price broke this flag by a engulfing bar, this should make me more confident to stay in trade, right ? Next target at the pole of the flag @ 9865
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Pipcrawler
  • #2,658
  • May 18, 2012 7:57am May 18, 2012 7:57am
Quoting xmzhang
Close partially @ 9873, looks like price made a flag, price broke this flag by a engulfing bar, this should make me more confident to stay in trade, right ? Next target at the pole of the flag @ 9865
watch approach to D now.
If you get a nice cap on price you may be able to get more out of it.

Either way, your BE is safe
  • #2,659
  • May 18, 2012 8:00am May 18, 2012 8:00am
Quoting Ifmyante
It really depends on the strength of the level and the pa on immediate approach

You can be pretty sure that price will react to the approach flag, so you may watch pa after it reacts. CP back up to the original entry point would be ideal

Also, watch the correlated pairs to better judge the scenario
Thanx very much for your explanation, could you provide me with an example from the past, a picture says more than a 1000 words, thanx a million.
Pipcrawler
  • #2,660
  • May 18, 2012 8:10am May 18, 2012 8:10am
Quoting xmzhang
Thanx very much for your explanation, could you provide me with an example from the past, a picture says more than a 1000 words, thanx a million.
I think it'd be much better for you to search history for as many examples as you can of LTF flags on approach to HTF zones.

This way you'll see the pa setting up for HTF success or failure
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