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Price is everything

  • #28,721
  • Jul 23, 2012 6:03pm Jul 23, 2012 6:03pm
Quoting Venice
What a strange question mate. Indicators are derived off of historical price data, and are incredibly laggy. I beg the question... how anyone makes money WITH indicators.

Price is king.
You need indicators just to read the price though, unless you are just watching a qoute board. Are bar charts or candle stick charts not a form of indicator showing where price has been? And by trading supply and demand levels arent you deriving your trades off of historical price data?
  • #28,722
  • Jul 23, 2012 6:23pm Jul 23, 2012 6:23pm
We're too busy to debate for debate's sake, but I'll bite, this once.

This evening, to see if I could trade better without price, I set my candle colours the same as the background colour.
I took a few trades, some long, some short, on random instruments, at times when I felt inspired to do so.
I'll leave them run overnight. This is a live account for an hedge fund I trade, so I'd best not leave them run longer than that.

We know, more often than not to the pip, where the institutions have placed their orders.

We do this simply by looking back to where price had last been decided to be too high or too low. We sell at the former, and buy the latter.

Our indicators are decisions made in the past. We'll see tomorrow if we can do better by not seeing them
  • #28,723
  • Jul 23, 2012 6:57pm Jul 23, 2012 6:57pm
Quoting grooler
You need indicators just to read the price though, unless you are just watching a qoute board. Are bar charts or candle stick charts not a form of indicator showing where price has been? And by trading supply and demand levels arent you deriving your trades off of historical price data?
To continue off of what If said as well, sure, it is historical data. But the candlesticks show distinct areas of indecision. An area, that will more often than not again be an area of decision. What is it going to do? Who knows... no one does. But knowing a previous decision area allows you to act or react based on what price does at it approaches the zone and how it behaves in or leaving the zone.

The zone is either going to hold or break. This knowledge alone should tell you more than enough.

Edit: obligatory notes about risk management. When it comes down to it, trading is a numbers game. A person who has their risk/reward set appropriately can make money being right less than half the time. This makes it very possible to make money with indicators. However, from my experience alone, and the fact that I am greedy, I like to be right... and a lot more than wrong. S/D trading offers this, but their is a lot of experience I have dealt with to read prices behavior along the way too. It really comes down to screen time. Make sure your r/r are always at a minimum of 1:1, and try to be right more than you are wrong. Trading really is this simple. No need to complicate it by making a mess of your charts. S/D offers the best r/r for your trades, and this is why it works for me.
  • #28,724
  • Jul 23, 2012 7:48pm Jul 23, 2012 7:48pm
Quoting Ifmyante
Welcome Credo

As simple as trading is, one thing you're going to need in abundance is time.
Trading can pay very well indeed, but there's a big investment to be made - months/years of practice

If you do have the time to spare, you've certainly found the accelerated learning course in PIE
Enjoy
hi Ifmyante,

thanks for the warm welcome, i wish i dont have kids and job so i can just sit and read all things about supply and demand and price action all day every day LOL. i also read some very good thread like Kenneth lee(ff), mightyone and the rumbleone(kreslik),the swordsofmanagement(babypip) and these thread wake me up from my sleep.
  • #28,725
  • Jul 24, 2012 1:58am Jul 24, 2012 1:58am
Quoting Ifmyante
Hi debashis, have you found us yet?
got it sir
  • #28,726
  • Jul 24, 2012 9:31am Jul 24, 2012 9:31am
Quoting Ifmyante
Oh tao, that's not true at all. We've just moved is all.
Check my signature

Best

If
Oops - My Bad .. lol -

You removed your signature ...
  • #28,727
  • Jul 24, 2012 9:55am Jul 24, 2012 9:55am
Quoting taomql4
Oops - My Bad .. lol -

You removed your signature ...
No worries, Tao

It wasn't me who removed my signature, BTW
  • #28,728
  • Jul 25, 2012 8:34am Jul 25, 2012 8:34am
lets see how it goes.
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Sniffing Snake's Tracks...
  • #28,729
  • Jul 25, 2012 3:47pm Jul 25, 2012 3:47pm
Quoting FX.Sniffer
lets see how it goes.
update...
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Sniffing Snake's Tracks...
  • #28,730
  • Jul 26, 2012 2:18am Jul 26, 2012 2:18am
Quoting FX.Sniffer
update...
Decided to close both orders with minimum loss due to following reasons:
1) price been inside zone for long time.
2) stacked levels.
3) USDX and EU.
3) U.S. news.
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Sniffing Snake's Tracks...
  • #28,731
  • Jul 26, 2012 3:18am Jul 26, 2012 3:18am
short GJ
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Simplicity Is The Ultimate Sophistication ~LDV~
  • #28,732
  • Jul 26, 2012 4:23am Jul 26, 2012 4:23am
BEARISH still Winner...
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Always looking the GREAT, never left GOOD Point...
  • #28,733
  • Jul 26, 2012 6:36am Jul 26, 2012 6:36am
Quoting FX.Sniffer
Decided to close both orders with minimum loss due to following reasons:
1) price been inside zone for long time.
2) stacked levels.
3) USDX and EU.
3) U.S. news.
it was the right decision.
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Sniffing Snake's Tracks...
  • #28,734
  • Aug 2, 2012 8:18am Aug 2, 2012 8:18am
busy but caught them
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  • #28,735
  • Aug 2, 2012 8:46am Aug 2, 2012 8:46am
Quoting King Kong
busy but caught them
Nice entry, but I have to ask.....did you get in before the big spike up? or catch it on the way down?

If so - i'm assuming you had no SL?
- Look to the left, Trade to the right - I am the system
  • #28,736
  • Aug 2, 2012 11:12am Aug 2, 2012 11:12am
Is it right ?
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Human
  • #28,737
  • Aug 2, 2012 11:18am Aug 2, 2012 11:18am
Quoting Chanya
Is it right ?
Not so sure we'll bounce that high from here. USDX has a couple of supply levels above. Also that target has already been spiked (meaning if price does get that high it will probably sail right past that level.)
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  • #28,738
  • Aug 2, 2012 11:20am Aug 2, 2012 11:20am
I am long EURUSD though. Dropped down to the M15 looking for a short bounce.
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  • #28,739
  • Aug 2, 2012 11:20am Aug 2, 2012 11:20am
Quoting C-12
Not so sure we'll bounce that high from here. USDX has a couple of supply levels above. Also that target has already been spiked.
Doesn't sam seiden says that most probable target is from where price returned again to the SD zone ???
Human
  • #28,740
  • Aug 2, 2012 11:25am Aug 2, 2012 11:25am
Quoting Chanya
Doesn't sam seiden says that most probable target is from where price returned again to the SD zone ???
Depends on where on the curve and the strength of the level. I think he looks for smaller timeframes for this. Also he looks if fresh supply levels have formed on the way back for targets.

He also syncs everything with the USDX. Price should bounce a little here but I think it will look to find lower levels (looking at the dollar index).
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