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Trade what you see NOT what you expect

  • #36,581
  • Jul 17, 2012 4:17am Jul 17, 2012 4:17am
just took this short bounce off the the 50 in the GU
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  • #36,582
  • Jul 17, 2012 4:43am Jul 17, 2012 4:43am
Quoting SteeP7
just took this short bounce off the the 50 in the GU
Be careful with that as we're in a strong uptrend right now bud
  • #36,583
  • Jul 17, 2012 4:47am Jul 17, 2012 4:47am
Quoting Trader131
Dharma, just thought I'd put this trade up for you, as it's based around what you PM'd me about, and how I integrate S and Demand into EO's method. I took a long on Euro shortly before the 15min candle closed, as I could see it was going to close a DBLHC around the 50ema. You can also see if you look left, the S&D element, and why I took the trade at that level- there were a lot of buy orders waiting from the earlier massive long green candle. I took half off +12 pips, and moved my stop to BE
Good stuff 131.

The more you look back at your charts, the more you realise that EO and Infinity essentially used S+D before the term had really taken hold in trading circles. they were using the same principle but for them, it was just where people "bought before" and "sold before". You'd see them reference it all the time. They would always favour the areas where price left a zone with the most momentum in the past but like so much of how they traded, a lot of it had become largely instictive so they didn't always think to mention it in their explanations.

No disrespect to them as they were both amazing traders but perhaps your explanations are a little more clear because you're coming from a place where it isn't yet as inbuilt into your phyche as it was for them. people should really take note of this chart IMO.
  • #36,584
  • Jul 17, 2012 4:57am Jul 17, 2012 4:57am
Quoting Trotty
Good stuff 131.

The more you look back at your charts, the more you realise that EO and Infinity essentially used S+D before the term had really taken hold in trading circles. they were using the same principle but for them, it was just where people "bought before" and "sold before". You'd see them reference it all the time. They would always favour the areas where price left a zone with the most momentum in the past but like so much of how they traded, a lot of it had become largely instictive so they didn't always think to mention it...
yeah good point havent been stopped out yet but its a possibility
  • #36,585
  • Jul 17, 2012 6:12am Jul 17, 2012 6:12am
I ended up getting out +5 price just kept stalling under the 50 EMA
  • #36,586
  • Jul 17, 2012 6:13am Jul 17, 2012 6:13am
Quoting SteeP7
I ended up getting out +5 price just kept stalling under the 50 EMA
Smart move and you can always look for a better entry. Not sure it'll move too much now until NYO.
  • #36,587
  • Jul 17, 2012 6:30am Jul 17, 2012 6:30am
im thinking about getting in long on EU soon
  • #36,588
  • Jul 17, 2012 6:51am Jul 17, 2012 6:51am
Quoting Trotty
Good stuff 131.

The more you look back at your charts, the more you realise that EO and Infinity essentially used S+D before the term had really taken hold in trading circles. they were using the same principle but for them, it was just where people "bought before" and "sold before". You'd see them reference it all the time. They would always favour the areas where price left a zone with the most momentum in the past but like so much of how they traded, a lot of it had become largely instictive so they didn't always think to mention it in...

Bang on, Trotty. S & D complements EO's method very well, and like you say was probably one of those "unspoken" elements that you don't get from reading the PDF. I tried trading it before coming back here, on naked charts, but found the ma's too useful personally, to ignore. I find it helps narrow down those areas where price might reverse or bounce off an ma. A knowledge of the basics of supply and demand is a must. For those wanting to know more, check out Sam Seiden's videos and the Price is Everything thread
There is no top. There are always further heights to reach. Jascha Heifetz
  • #36,589
  • Jul 17, 2012 6:54am Jul 17, 2012 6:54am
Quoting Trader131
Bang on, Trotty. S & D complements EO's method very well, and like you say was probably one of those "unspoken" elements that you don't get from reading the PDF. I tried trading it before coming back here, on naked charts, but found the ma's too useful personally, to ignore. I find it helps narrow down those areas where price might reverse or bounce off an ma. A knowledge of the basics of supply and demand is a must. For those wanting to know more, check out Sam Seiden's videos and the Price is Everything thread
After todays trading ill definitely take a look at that, I know Ken who used to participate in this thread made a PDF of on the same subject
  • #36,590
  • Jul 17, 2012 7:05am Jul 17, 2012 7:05am
Quoting Trader131
Bang on, Trotty. S & D complements EO's method very well, and like you say was probably one of those "unspoken" elements that you don't get from reading the PDF. I tried trading it before coming back here, on naked charts, but found the ma's too useful personally, to ignore. I find it helps narrow down those areas where price might reverse or bounce off an ma. A knowledge of the basics of supply and demand is a must. For those wanting to know more, check out Sam Seiden's videos and the Price is Everything thread
I've never really understood the desire for people to concentrate on just one aspect of trading. "I only trade S+R" "I only trade trendline breaks" "I only trade S+D" etc. The whole process of learning to trade to me was to pick up on things which I can see work with a degree of reliability and ditch the bits that seem like hocus pocus. That's why I factor in S+D and VSA into this method because I believe both have merit to them

However, I would say that if you are new to trading, learning S+D alone could well shorten the process from losing to breaking even to winning. it's really very simple indeed to understand.
  • #36,591
  • Jul 17, 2012 7:21am Jul 17, 2012 7:21am
Quoting Trotty
I've never really understood the desire for people to concentrate on just one aspect of trading. "I only trade S+R" "I only trade trendline breaks" "I only trade S+D" etc. The whole process of learning to trade to me was to pick up on things which I can see work with a degree of reliability and ditch the bits that seem like hocus pocus. That's why I factor in S+D and VSA into this method because I believe both have merit to them

However, I would say that if you are new to trading, learning S+D alone could well shorten the process from losing...
Yes, and in the end we are all different- you can't fit a square peg in a round hole! Some methods will just "fit" your personality.

It's important to give whatever approach you're learning a chance and then decide what works for you. Some methodologies have parts that complement each other well, some less so.

Also we shouldn't complicate things too much though, as we may end up with too many "ducks to line up" and never be able to take a trade!
There is no top. There are always further heights to reach. Jascha Heifetz
  • #36,592
  • Jul 17, 2012 7:36am Jul 17, 2012 7:36am
[quote=Trader131;5848253]Yes, and in the end we are all different- you can't fit a square peg in a round hole! Some methods will just "fit" your personality.

It's important to give whatever approach you're learning a chance and then decide what works for you. Some methodologies have parts that complement each other well, some less so.

Also we shouldn't complicate things too much though, as we may end up with too many "ducks to line up" and never be able to take a trade![/quote]

Very true too. A balance should be found but clear PA entries will always reign supreme over any other consideration
  • #36,593
  • Jul 17, 2012 2:13pm Jul 17, 2012 2:13pm
Interesting afternoon on cable today with a big parabolic move. Wonder how many folk got trapped shorting all those pins and shooting stars on the way back up to this level?
  • #36,594
  • Jul 17, 2012 3:05pm Jul 17, 2012 3:05pm
Yes, glad I wasn't trading it- a big shakeout and there were a lot of fake pins on euro on that run back up that would have been tempting. It just show how manipulated the markets are around news. I think this could go a lot higher now- the bears have been frightened today
There is no top. There are always further heights to reach. Jascha Heifetz
  • #36,595
  • Jul 17, 2012 3:11pm Jul 17, 2012 3:11pm
Quoting Trader131
Yes, glad I wasn't trading it- a big shakeout and there were a lot of fake pins on euro on that run back up that would have been tempting. It just show how manipulated the markets are around news. I think this could go a lot higher now- the bears have been frightened today
Agreed mate, you'd be looking for a further push up tomorrow.
  • #36,596
  • Jul 17, 2012 3:25pm Jul 17, 2012 3:25pm
Quoting Trotty
Agreed mate, you'd be looking for a further push up tomorrow.
I hope so i bought the EJ for longer term trade, im +37 so far
  • #36,597
  • Jul 17, 2012 8:37pm Jul 17, 2012 8:37pm
Quoting Trotty
Agreed mate, you'd be looking for a further push up tomorrow.
I know I am, after those Daily candle closes on the EU and AU. Funny story (at least now). Went long on AU last night at 1.0295 with a s/l @ 1.0245. Woke up this morning and saw it was still sitting there. Closed trade for a 10 pip loss. Check after Mr. B spoke and glad I did close my trade, would of gotten stopped out on the whipsaw.

Went long at the open of the 2000GMT candle.

Couldn't resist, loved how that pin closed above my TL from 6/1 and 200 daily.

HOLLA
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  • #36,598
  • Jul 18, 2012 12:58am Jul 18, 2012 12:58am
Quoting SteeP7
I hope so i bought the EJ for longer term trade, im +37 so far
Best of luck
  • #36,599
  • Jul 18, 2012 4:49am Jul 18, 2012 4:49am
Quoting Turtle
I know I am, after those Daily candle closes on the EU and AU. Funny story (at least now). Went long on AU last night at 1.0295 with a s/l @ 1.0245. Woke up this morning and saw it was still sitting there. Closed trade for a 10 pip loss. Check after Mr. B spoke and glad I did close my trade, would of gotten stopped out on the whipsaw.

Went long at the open of the 2000GMT candle.

Couldn't resist, loved how that pin closed above my TL from 6/1 and 200 daily.

HOLLA
Well, we're pushing down off double tops right now pal. The daily close on cable did not turn out to be super duper for longs, closed inside the prev daily high. Am waiting to see how hourly candles close around 5575 to see if she'll set up for another long push this afternoon.
  • #36,600
  • Jul 18, 2012 7:05am Jul 18, 2012 7:05am
Tough markets at the moment. Stopped out on that 15min pin on Euro earlier, but back in long and covered after the bullish engulfing on 15 min. Also long on cable from the trendline. I have rising trendlines on EU an GU that have been respected so far. 1hr charts of euro and cable below
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There is no top. There are always further heights to reach. Jascha Heifetz
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