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Price is Everything Chat Room

  • #3,261
  • Jun 29, 2012 4:30am Jun 29, 2012 4:30am
Quoting @mel
Hi guys,

I hope everyone is doing fine.
I am watching EUR and this is what I am looking at... Will watch price at the potential area if price comes back there.

Mel
Hi Mel,

what level do you see on M1?
  • #3,262
  • Jun 29, 2012 4:36am Jun 29, 2012 4:36am
Quoting Ifmyante
Hi Mel,

what level do you see on M1?
Hi If,
How are you?

For the 1 min, I see a potential zone between 1.2498 & 1.2507.
I think I forgot to post a 1min chart...

Mel
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  • #3,263
  • Jun 29, 2012 6:52am Jun 29, 2012 6:52am
Cable.... Supply has started to be eaten greater than the current supply level. It should help with the move up, but supply is holding atm as well. Expectation is this will be blown through.

Will wait until > Monday && a close above + retest to start placing orders.
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  • #3,264
  • Edited 6:58am Jun 29, 2012 6:57am | Edited 6:58am
Quoting FX.Sniffer
and we have a loser -130pips
Ok, now after price behavior its so clear to me what did I do wrong and will learn from my mistake.

I consider this lesson as the fine tuning of supply and demand teachings.

Any comments are most welcomed.
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Sniffing Snake's Tracks...
  • #3,265
  • Jun 29, 2012 7:19am Jun 29, 2012 7:19am
Quoting FX.Sniffer
Ok, now after price behavior its so clear to me what did I do wrong and will learn from my mistake.

I consider this lesson as the fine tuning of supply and demand teachings.

Any comments are most welcomed.
Hi Sniffer, your zones look good.

Always remember, nothing is ever certain. Just because a zone exists, doesn't mean it has to do squat. This is why I harp on risk so much these days.

I guess something that might help everyone else, is that when I enter orders, I view that order a loss. As soon as the order is in... I am of the assumption that the 1-3% amount of my account is gone. That thought process is held true until my stops are moved to BE. This allows me not to fret over when I am wrong... since the default assumption is that I am.
  • #3,266
  • Jun 29, 2012 7:27am Jun 29, 2012 7:27am
Quoting Venice
I guess something that might help everyone else, is that when I enter orders, I view that order a loss. As soon as the order is in... I am of the assumption that the 1-3% amount of my account is gone. That thought process is held true until my stops are moved to BE. This allows me not to fret over when I am wrong... since the default assumption is that I am.
in a game of probability its 50-50
Sniffing Snake's Tracks...
  • #3,267
  • Jun 29, 2012 7:30am Jun 29, 2012 7:30am
Quoting FX.Sniffer
in a game of probability its 50-50
The cool thing about supply/demand trading... is that even if you are wrong about your initial zone play, more often than not, price will tell you that you are wrong, and to go ahead and flip directions.
  • #3,268
  • Jun 29, 2012 7:53am Jun 29, 2012 7:53am
Quoting Venice
The cool thing about supply/demand trading... is that even if you are wrong about your initial zone play, more often than not, price will tell you that you are wrong, and to go ahead and flip directions.
or to look for levels on top of levels


Quoting FX.Sniffer
hey traders..been off trading since last week and decided to take this long entry on gold for this week, so lets see how it goes.
price is heading to my original TP zone ?!!!
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Sniffing Snake's Tracks...
  • #3,269
  • Jun 29, 2012 8:01am Jun 29, 2012 8:01am
Quoting FX.Sniffer
price is heading to my original TP zone ?!!!
and it got hit...well, its better to live and fight another day
Sniffing Snake's Tracks...
  • #3,270
  • Jun 29, 2012 8:10am Jun 29, 2012 8:10am
Quoting FX.Sniffer
Ok, now after price behavior its so clear to me what did I do wrong and will learn from my mistake.

I consider this lesson as the fine tuning of supply and demand teachings.

Any comments are most welcomed.
Hi Fx,

I guess losses are part of the game. I believe that one can only learn from his/her mistakes. A winning trade is not a really a lesson, it just confirms what you already have learned, a losing trade instead will always teach you something . So in a way, we should be gratefull for a loss as long as they fit our MM....

Enough of my "words of wisdom" for now, lol

Have a nice day
  • #3,271
  • Jun 29, 2012 8:18am Jun 29, 2012 8:18am
Quoting FX.Sniffer
or to look for levels on top of levels




price is heading to my original TP zone ?!!!
When zones are stacked like what you have here... price loves to break through the first zone and base in the second. For me, I would have been stopped as you, and loaded again in the zone below. All good matey, always another trade around the corner!

It's to bad us American's can't trade gold because our government is to busy "protecting us from ourselves"... instead of going after the actual crooks. Would have loved to sling it :/
  • #3,272
  • Jun 29, 2012 8:20am Jun 29, 2012 8:20am
perhaps just right now the all market is partying whit a charlye sheen style, no regular price flow.

Quoting FX.Sniffer
and it got hit...well, its better to live and fight another day
Attached Image
Sometime the horizon disappear. Twitter: @_whiteout
  • #3,273
  • Jun 29, 2012 8:25am Jun 29, 2012 8:25am
Euro is flying to the moon without me... Well , I won't be greedy, since I already got 93 pips from the market! And all that while I was sleeping :-) What else could I ask for, seriously... :-)

No more trading today for me, I will go out and enjoy the rest of the day...

Nice weekend to everyone,
Mel
  • #3,274
  • Jun 29, 2012 8:37am Jun 29, 2012 8:37am
Quoting @mel
Euro is flying to the moon without me... Well , I won't be greedy, since I already got 93 pips from the market! And all that while I was sleeping :-) What else could I ask for, seriously... :-)

No more trading today for me, I will go out and enjoy the rest of the day...

Nice weekend to everyone,
Mel
Awesome Job Mel. People sometimes ask me how I have the patience to swing trade like I do... (orders are more often than not open for 3 days to a month).

I always ask how you can stand to sit in front of your screen on a day to day basis watching price bounce around... LOL. I'd rather be sipping mojitos somewhere
  • #3,275
  • Jun 29, 2012 9:00am Jun 29, 2012 9:00am
Quoting @mel
Hi Fx,

I guess losses are part of the game. I believe that one can only learn from his/her mistakes. A winning trade is not a really a lesson, it just confirms what you already have learned, a losing trade instead will always teach you something . So in a way, we should be gratefull for a loss as long as they fit our MM....

Enough of my "words of wisdom" for now, lol

Have a nice day
hey Mel..great words the irony..I've been discussing supply & demand with a friend last Tuesday at his place, and he just informed over the phone that I marked zone A on his chart but seems like when I got home I decided to buy at a the higher zone due to the uptrend line.

Another lesson learned is to stick to my initial plan.
Sniffing Snake's Tracks...
  • #3,276
  • Jun 29, 2012 9:12am Jun 29, 2012 9:12am
Quoting Venice
When zones are stacked like what you have here... price loves to break through the first zone and base in the second. For me, I would have been stopped as you, and loaded again in the zone below. All good matey, always another trade around the corner!

It's to bad us American's can't trade gold because our government is to busy "protecting us from ourselves"... instead of going after the actual crooks. Would have loved to sling it :/
when i got stopped I was thinking of buying again but didn't because first I didnt spend quality time infront of my charts this week. second, didn't want to react with a vengeance due to my loss. However, I agree with you.

Why don't you open an offshore account?!


Quoting whiteout
perhaps just right now the all market is partying whit a charlye sheen style, no regular price flow.
Sniffing Snake's Tracks...
  • #3,277
  • Jun 29, 2012 9:14am Jun 29, 2012 9:14am
Quoting FX.Sniffer

Why don't you open an offshore account?!




It's Illegal. LOL
  • #3,278
  • Jun 29, 2012 9:28am Jun 29, 2012 9:28am
Quoting @mel
Euro is flying to the moon without me... Well , I won't be greedy, since I already got 93 pips from the market! And all that while I was sleeping :-) What else could I ask for, seriously... :-)

No more trading today for me, I will go out and enjoy the rest of the day...

Nice weekend to everyone,
Mel
Pirates of Greed Mel I think fiber will retest 1.2530 zone.

Nice weekend to you too.
Sniffing Snake's Tracks...
  • #3,279
  • Jun 29, 2012 9:31am Jun 29, 2012 9:31am
Quoting Venice
It's Illegal. LOL
oups I thought I saw somewhere..americans trading gold.
Sniffing Snake's Tracks...
  • #3,280
  • Jun 29, 2012 10:15am Jun 29, 2012 10:15am
One of the nicest QM's I've seen but the idiot I am I closed it too early.
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