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Price is Everything Chat Room

  • #3,501
  • Jul 7, 2012 6:08pm Jul 7, 2012 6:08pm
Quoting Ifmyante
Man, that's the one thing which I've been putting off 'til last in the making of the new site!

I know that tomorrow is my deadline for doing it, so I do hope I can get the house empty and quiet, and that all my neighbours got their lawns mowed, so I can at last make the video.

I've been racking my brain over it for ages.
It's a massive subject, yet it's unbelievably simple to explain. This may be a 10 minute video, or a whole series of them.
I suppose the only way I'll find out is to actually begin

Wish me luck

If



Give us a week or two, and...
Good luck with the project mate ... So , when approximately will you be providing us with em ( Videos ) ??? And where would these be available ??? Sorry , I have not been here long so I do not know what site you are referring to !!!
Human
  • #3,502
  • Jul 7, 2012 6:15pm Jul 7, 2012 6:15pm
[quote=Ifmyante;5822102]Man, that's the one thing which I've been putting off 'til last in the making of the new site!

....I've been racking my brain over it for ages.
It's a massive subject, yet it's unbelievably simple to explain. This may be a 10 minute video, or a whole series of them.
...

I have watched every SS video and read every one of his articles and one consistent thread to his message on level identification is simplicity (2 black lines and a yellow box!). For example once a level is taken out - it is taken out. He does not seem to look too far back or do MTF analysis either, other than to get a basic appreciation of market structure and overall trend. A lot of the charts posted here are absolute works of art, but I wonder some times where the point of diminishing returns starts? I have spent a huge amount of time and money trying to get my trading right and I would put in 23 hours a day to crack it, but I am really starting to feel overwhelmed and increasing confused as to what approach to take. I am convinced supply and demand is the way to go for me, but the exact mechanics of it, continues to elude me, despite the fantastic contributions made here and by RED etc in years gone by. For example sometimes I do a month down analysis of a pair and other times I do a 60M-5M analysis of a pair and it in the vast majority of cases makes absolutely no difference (I trade intraday off 15 and 5M). I am sure I am not the lone ranger here, so I thought my feelings would be worth posting. Thanks
  • #3,503
  • Jul 7, 2012 6:17pm Jul 7, 2012 6:17pm
Quoting Chanya
Good luck with the project mate ... So , when approximately will you be providing us with em ( Videos ) ??? And where would these be available ??? Sorry , I have not been here long so I do not know what site you are referring to !!!
Hy Chanya, welcome on board, nice to see y here; i have read some of your post on j16.

Well if y look at the first page of Romancing the price (http://www.forexfactory.com/showthread.php?t=288142) treadh y will find some video of IF, [check his channel (http://www.youtube.com/user/Ifmyante) on youtube] and other interesting stuff [the treadh is a MUST read]
About the video that if is recording, well, that video it's a part of a new complex project made by IF and other great traders, y will find some info on them and on the project on acegazette.com (http://www.acegazette.com) on acepips.com (http://www.acepips.com/)
Sometime the horizon disappear. Twitter: @_whiteout
  • #3,504
  • Jul 7, 2012 6:25pm Jul 7, 2012 6:25pm
Quoting Ifmyante
Man, that's the one thing which I've been putting off 'til last in the making of the new site!
I know that tomorrow is my deadline for doing it, so I do hope I can get the house empty and quiet, and that all my neighbours got their lawns mowed, so I can at last make the video.
I've been racking my brain over it for ages.
It's a massive subject, yet it's unbelievably simple to explain. This may be a 10 minute video, or a whole series of them.
I suppose the only way I'll find out is to actually begin
Wish me luck

If
good luck , pratice is the key

pheraps i think we have never talked in depth about S/D and S/R if they are the same thing whit different name or not, and bla bla bla; i have made my noob idea on this reading different opinions, that will be really interesting.
Attached Image
Sometime the horizon disappear. Twitter: @_whiteout
  • #3,505
  • Jul 7, 2012 6:39pm Jul 7, 2012 6:39pm
Quoting whiteout
good luck , pratice is the key

pheraps i think we have never talked in depth about S/D and S/R if they are the same thing whit different name or not, and bla bla bla; i have made my noob idea on this reading different opinions, that will be really interesting.
SCORE!!!

We know we're not looking for anything other than decisions.

That'll be all I'll be teaching - the search for decisions
  • #3,506
  • Edited 6:44pm Jul 7, 2012 6:42pm | Edited 6:44pm
Quoting Chanya
Can someone Please tell me where to get started on supply and demand ??? Its been like two months and I still don't understand a thing about supply and demand . I tried reading the red's thread but I cannot grasp a thing because I have a weak point , I can not make sense of stuff while reading the thread with the learning intention ... I have heard sam seiden name , but what ever video I open of his , in every one of them , he's explaining the advance stuff . I want to learn the basics first . Help me out . One thing I would most prefer is for...
Hi Chanya,

Sam has some videos where he explains the basic stuff of Supply & Demand. try this one: http://www.forexpros.com/live-events/transcripts/using-price-action-alone-to-identify-bank-dealer-supply-and-demand-in-forex-trading-24563
The PIE ,PIE chat room & Romancing the price threads actually also have plenty of examples that illustrate what we exactly are looking for.

What we basicly do is, Sell at supply and buy at demand because this is where the big orders are. How do we know that??? Good question :-) , actually, the banks aren't going to tell us where those orders are but they can not hide their actions on a price chart either. What's the difference between a novice trader and a bank/big institution?
Well, a novice trader buys after a rally in price and sells after a drop in price while the banks are doing the opposite. We want to follow the Big Money, not the novice trader who is wrong most of the time.

How to identify supply and demand levels?
When searching for a supply area we look for a base, structure wise this looks like a consolidation area. Preferably the base will not contain much candles.
Then the key thing to look for after identifying a base is, the way price left this base. If you see a violant drop in price with big red candles, then you know that Big Money was involved in the trade. So we know that,when price will come back (pull back) to that area (the base), there is a big chance that price will drop again (and vice versa for a buy at demand). This is where we want to look for a trade

So, we look for a sell trade after a rally in price and a buy trade after a drop in price. The opposite of what the novice trader is doing.

I have marked a chart with a supply and a demand area, maybe that will help you.

Remember that the first retest of a level is always the saffer, price can actually bounce again at a second or third retest but knowing that supply can become demand and that demand can become supply, you have to be carrefull with the second and third...retests.

Concretely, what you can do now is, go look at a chart. Go and find some examples, start with 1 timeframe at a time,pick a higher tf to begin, this will help you. Look for a good drop in price and a good rally in price and look at where the movement started. You'll find your base....

There is no real black & white answers unfortunately. The only thing that could help you is a huge amout of screen time. I know this is not really the answer that you are looking for but it really is the truth. Train your eyes, hard work always pays off. This way of trading is really extraordinary, it will give you an edge. Whith some practise and time you'll see that you are actually holding a goldmine into your hands.

I hope this helps,
Mel
Attached Image(s) (click to enlarge)
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  • #3,507
  • Jul 7, 2012 6:50pm Jul 7, 2012 6:50pm
Quoting @mel
Hi Chanya,

Sam has some videos where he explains the basic stuff of Supply & Demand. try this one: http://www.forexpros.com/live-events/transcripts/using-price-action-alone-to-identify-bank-dealer-supply-and-demand-in-forex-trading-24563
The PIE ,PIE chat room & Romancing the price threads actually also have plenty of examples that illustrate what we exactly are looking for.

What we basicly do is, Sell at supply and buy at demand because this is where the big orders are. How do we know that??? Good question :-) , actually, the...
Mel, that should be a sticky
  • #3,508
  • Jul 7, 2012 7:11pm Jul 7, 2012 7:11pm
Quoting @mel
Hi Chanya,

Sam has some videos where he explains the basic stuff of Supply & Demand. try this one: http://www.forexpros.com/live-events/transcripts/using-price-action-alone-to-identify-bank-dealer-supply-and-demand-in-forex-trading-24563
The PIE ,PIE chat room & Romancing the price threads actually also have plenty of examples that illustrate what we exactly are looking for.

What we basicly do is, Sell at supply and buy at demand because this is where the big orders are. How do we know that??? Good question :-) , actually, the banks...
Thank you very much mate for your help ... I have a couple of more questions ... If I may ... As you have explained , and as I now know a little about where a supply and demand area's might exist , how should we draw these areas ??? I mean , How did you know where to place those two lines at the supply in the first two charts ??? Is it an exact thing of where those lines should come ??? Secondly , whats the exit plan ??? Where would you have closed these two trades ???
Human
  • #3,509
  • Jul 7, 2012 7:27pm Jul 7, 2012 7:27pm
Quoting Chanya
Thank you very much mate for your help ... I have a couple of more questions ... If I may ... As you have explained , and as I now know a little about where a supply and demand area's might exist , how should we draw these areas ??? I mean , How did you know where to place those two lines at the supply in the first two charts ??? Is it an exact thing of where those lines should come ??? Secondly , whats the exit plan ??? Where would you have closed these two trades ???
As I replied to you in the PIE thread:

Read Kenneth Lee's thread here: http://www.forexfactory.com/showthread.php?t=311095 The first post has a pdf you can download that will show you the basics on drawing the S/D lines.
Luck occurs when preparation meets with opportunity.
  • #3,510
  • Jul 7, 2012 7:35pm Jul 7, 2012 7:35pm
Quoting AlienFrog
As I replied to you in the PIE thread:

Read Kenneth Lee's thread here: http://www.forexfactory.com/showthread.php?t=311095 The first post has a pdf you can download that will show you the basics on drawing the S/D lines.
I read that again the other day

One caveat I'd put on that is - where he discusses approach to the level, he discounts PA which looks to me somewhat like compression.

We know better than to dismiss cp into a zone
  • #3,511
  • Jul 7, 2012 7:36pm Jul 7, 2012 7:36pm
Just a suggestion for Mel
Attached Image
  • #3,512
  • Jul 8, 2012 2:05am Jul 8, 2012 2:05am
Quoting Ifmyante
Just a suggestion for Mel
http://www.youtube.com/watch?v=q3svW8PM_jc
  • #3,513
  • Jul 8, 2012 3:03am Jul 8, 2012 3:03am
Quoting Ifmyante
A little something for Mel

and a song too.... Enjoy
and here's something for Michael

http://www.youtube.com/watch?v=bT6jqCQpjsg
  • #3,514
  • Jul 8, 2012 3:47am Jul 8, 2012 3:47am
Quoting KennyZ
.. for those of you who may still wants access, new domain is acepips.com.. we intend to use acepips mainly for news, tools and resources for the time being.. whatever else we may want to add, all will be always free..

traders helping traders.............................
Thank you Father, for an answered prayer!!!
http://www.youtube.com/watch?v=MNYvzKy-i9k

http://www.youtube.com/watch?v=JG5OsfOuEy0
  • #3,515
  • Edited 7:44am Jul 8, 2012 3:54am | Edited 7:44am
Quoting emene
guys, sincerely, thank you for all the support.
Emene.... thank YOU for all your support

http://www.youtube.com/watch?v=2KGR68WfFlI

Frankkn: Ok Variance, that's enough.... you need to learn to chat with yourself, and be your OWN best consultant....

Tyoon & Alter: Hey Sam, i'm seeing some compression and flip zooones???????

Orbital: ........ pm me....

Red: BRING IT!!!!!!!!
  • #3,516
  • Jul 8, 2012 3:57am Jul 8, 2012 3:57am
Quoting Chanya
Can someone Please tell me where to get started on supply and demand ???
I suggest to start with Sam Seidens Lesson #1 slides (http://www.4shared.com/office/ND5JY0g2/Sam_Seidens_Lesson_1_slides_.html?) in addition to Kenneth Lee's PDF (http://www.forexfactory.com/showthread.php?t=311095), then go for the advanced material: PIE PDF (http://hotfile.com/dl/114059917/a591571/Price_is_Everything.PDF.html) / PIE Thread (http://www.forexfactory.com/showthread.php?t=230888), RTP (http://www.forexfactory.com/showthread.php?t=288142), PIE Chat Room (http://www.forexfactory.com/showthread.php?t=300889).
Sniffing Snake's Tracks...
  • #3,517
  • Jul 8, 2012 4:13am Jul 8, 2012 4:13am
Quoting Ifmyante
Just a suggestion for Mel

Hahaha, I love it! :-)
  • #3,518
  • Edited 5:29am Jul 8, 2012 4:37am | Edited 5:29am
Quoting Chanya
Thank you very much mate for your help ... I have a couple of more questions ... If I may ... As you have explained , and as I now know a little about where a supply and demand area's might exist , how should we draw these areas ??? I mean , How did you know where to place those two lines at the supply in the first two charts ??? Is it an exact thing of where those lines should come ??? Secondly , whats the exit plan ??? Where would you have closed these two trades ???

Hi Chanya,

You are welcome.
Please re-read my previous post again...

Here I quote myself:

How to identify supply and demand levels?
When searching for a supply area we look for a base, structure wise this looks like a consolidation area. Preferably the base will not contain much candles.
Then the key thing to look for after identifying a base is, the way price left this base. If you see a violant drop in price with big red candles, then you know that Big Money was involved in the trade. So we know that,when price will come back (pull back) to that area (the base), there is a big chance that price will drop again (and vice versa for a buy at demand). This is where we want to look for a trade


So...
1) We look for a base (the consolidation base) then we look for
2) Either a drop in price ( for supply) or a rally in price (for demand). If the huge drop or rally has happened, then we know that big money was selling/buying at the particular base (consolidation base)

For the exits, they are many different options but since we are talking about the basic supply/demand stuff, we should look to exit at a demand area if we were in a sell trade or exit at a supply area after a buy trade.

So, before ever considering taking a trade you should have your game plan in place. Let's say that you have identified a potential supply area, now look at where the first next demand area is for a potential target. Look for the RR there. Is there enough room for price to drop? How big is your stop in reference to your potential target area?

I highly suggest that you search for Ifmyante videos, he has different greats videos that might help you.

Sam Seiden has also an odd enhancer, wich will help you to quantify a potential trade. I will put the docs in attachment (I got them from FF but don't remember where from exactly, so all the credit goes to the person that did post them, if it's not ok to repost it, please tell me I'll delete it)...

I am certainly not that great at teaching things lol but I hope this could help you out ...
Good luck.
Mel
Attached File(s)
File Type: zip Probability Enhancers.zip   377 KB | 598 downloads
  • #3,519
  • Jul 8, 2012 5:10am Jul 8, 2012 5:10am
Quoting @mel
Hahaha, I love it! :-)
at last!
Sniffing Snake's Tracks...
  • #3,520
  • Jul 8, 2012 6:13am Jul 8, 2012 6:13am
I wanted to show the difference between S/D, SR, and PPZ on charts as pictures speak louder than words.

I've marked the major/strong levels plus a few minor/weaker levels in a three charts for the same instrument and time frame.

You can see by yourself the differences and advantages/disadvantages of each method.

IMO the four most important differences are:

1) As been taught everywhere SR is a zone not just a line drawn on chart, same applies to PPZ. However, S/D is drawn as a zone defining the max DD (how deep price can go into the zone) with a specific SL behind the zone in case it fails.

2) In most cases SR and PPZ are determined after the fact, when there is always a S/D decision reference in LTF if not on the same TF.

3) S/D zones on charts are more specific and less in quantity compared to SR, on the other hand PPZ is a filtration of SR.

4) S/D is so much cooler than SR no kidding..with all the rules, odd/probability enhancers, stacked levels, CP, consumption, order flow, etc...allowing you to fine tune/sharpen/polish your price reading.

That's it...thank you.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: SD.jpg Size: 168 KB
Click to Enlarge Name: SR.jpg Size: 218 KB
Click to Enlarge Name: PPZ.jpg Size: 183 KB
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