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S/D Zones, risk ratio = 3

  • #141
  • Jul 31, 2012 8:06am Jul 31, 2012 8:06am
yeah
Keep your nice work.
  • #142
  • Jul 31, 2012 8:33am Jul 31, 2012 8:33am
Quoting xiaoxin
yeah
Keep your nice work.
Thank you, I hope my posts are not too confusing..

It looks like there were some news coming from Germany so that explains why the move down was quite strong.

I made a quick scalp on that one
EURUSD
Buy @1.2276
SL 1.2268
TP 1.2288 : achieved +12 pips
I am sorry I could not post the trade in live, I had to pay attention to the behavior of the pair.
  • #143
  • Edited 11:04am Jul 31, 2012 10:53am | Edited 11:04am
Finally two last trades on the EURUSD

I sold at 1.2287 before the news but I did not take any profit and got stopped at BE.
Then I bought @1.2297
TP 1.2324 reached, I have been talking about this level since this morning. +27pips

Today :
+7,-16,+39,+12,+27 = 69 pips.
  • #144
  • Aug 1, 2012 6:30am Aug 1, 2012 6:30am
I got some issues with MT4, I was not able to post a chart.
I did one with NetDania and Paint ..

We have three big news today, ADP in one hour, ISM then and this evening the Bernanke's speech (QE or not QE ?). So good ADP and ISM could mean no QE so dollar strong and vice versa.

Two trades this morning, during the London push I wanted to short but I was too impatient (again !) and opened the short at 1.2317 with SL at 1.2335 which got hit -18pips..not lucky on this one because 1.2335 was the top of the move but anyway. The 1.2317 was the high of the previous hour.

Then I opened another short at 1.2327 closed at 1.2307 : +20pips. I have just closed it manually, I was aiming for the 1.2270 but well news are coming I won't take any risk. 1.2290 looks strong now.

So since the spike down to 1.2290 we have been ranging between 1.2300-1.2320.

PS : 1st gold medal for GB, maybe it could have an influence..(I read yesterday an article on marketwatch.com about sports and traders, I can't find it).
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD 1h 2012.08.01.png Size: 45 KB
  • #145
  • Aug 2, 2012 1:46am Aug 2, 2012 1:46am
Hello guys,

Bad day yesterday, I lost 45 pips in 3 trades.

This morning on EURUSD
Buy @1.2239
SL 1.2227
TP 1.2273 :1.2257 is an important one also.

Comments : see the 2nd chart, 1.2239 was an important one during the Asian Session.

Still the same levels in play this week : 1.2257, 1.2270 and below now it's more about 1.2220-25.

Today, there is the ECB rate announcement, so I will close all of my trades before that.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eurusd 1h 2012.08.02.png Size: 79 KB
Click to Enlarge Name: eurusd 1h 2012.08.02 bis.png Size: 61 KB
  • #146
  • Aug 2, 2012 3:44am Aug 2, 2012 3:44am
Quoting landre
This morning on EURUSD
Buy @1.2239
SL 1.2227
TP 1.2273 :1.2257 is an important one also.

Finally I got the spike to 1.227x, I closed at 1.2271 : +32pips.
I don't think I will take another trade until the ECB press conference. Above the 1.2270, we have 1.228x which has been important for the last days (even some weeks).
  • #147
  • Aug 2, 2012 8:14am Aug 2, 2012 8:14am
What a move !

1h bar : 200 pips
I catch some during the way down

I short at 1.2280 after the first test of the 1.2262
TP : 1.2237 (from this morning and Asian session) +43 pips. Well I clearly missed some but the markets were nervous and I have prefered securing some pips.

Now we have :
Above : 1.2202 (currently testing), 1.2217 (Low of yesterday), 1.2227-33 and then 1.2262.
Below : 1.2171 (new low I don't know where it comes from so I don't trade it), 1.2182 (old one) and then 1.2160.

20 min before NY opening. Major correction in equities (DAX, CAC).
  • #148
  • Aug 3, 2012 1:48am Aug 3, 2012 1:48am
What a day yesterday : 270 pips range.

During the NY session, two trades :
Buy @1.2160 SL 1.2144 hit : -16 pips. I thought the 1.216x would have been an important one. In fact the 1.217x was the one to spot and then below it was the 1.2133

So I opened another one :
Buy @1.2138 SL 1.2127 TP : 1.2170 reached : +32 pips

Nice day : +32,+43,-16,+32 = 91 pips

Quote
Now we have :
Above : 1.2202 (currently testing), 1.2217 (Low of yesterday), 1.2227-33 and then 1.2262.
Below : 1.2171 (new low I don't know where it comes from so I don't trade it), 1.2182 (old one) and then 1.2160.
1.2202 -> 1.2196 is the real one
I finally know where it comes from (cf. 1st chart)
1.2182 -> still have a role to play
1.2160 doesn't matter -> 1.2170

First chart : 1h Chart, I did not change much my levels from yesterday 1.2166 becomes 1.2170 and I add 1.2133 but I think 1.2116 is still important.

Second chart : 15m chart, 1.2195 looks like a minor supply level.

Today it's NFP but well I'm expecting a good number so the trend down should continue.
Spanish bonds rate > 7% and Italian one > 6% nothing good for the EUR.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eurusd 1h 2012.08.03.png Size: 90 KB
Click to Enlarge Name: eurusd 1h 2012.08.03 bis.png Size: 70 KB
  • #149
  • Aug 3, 2012 3:41am Aug 3, 2012 3:41am
EURUSD
Sell @1.2214
SL 1.2228
TP 1.2170

I have shorted the supply level, I'm aiming for the 1.2170 but well I'll close the trade before the NFP news so I don't think the pair will reach that level.
  • #150
  • Aug 3, 2012 4:33am Aug 3, 2012 4:33am
Quoting landre
EURUSD
Sell @1.2214
SL 1.2228
TP 1.2170

I have shorted the supply level, I'm aiming for the 1.2170 but well I'll close the trade before the NFP news so I don't think the pair will reach that level.
SL (1.2230 finally) hit -16, I was not expecting such a move up.
  • #151
  • Aug 3, 2012 6:05am Aug 3, 2012 6:05am
Hi Landre, I have looked very briefly at the ebooks you kindly posted and it appears at first sight that this supply and demand system is just another name for trading between support and resistance. I will read them further later and follow up my comment here if I change my view. But the way the system explains trading is totally sound and a good basis for learning. Glad to see your trades are turning positive. I didn't find anything useful at all in Dayboys posts (I mean nothing I could learn anything from) so am no longer following that - I am not interested in a signal service
Nil Desperandum Illegitimi Carborundum
  • #152
  • Aug 3, 2012 6:47am Aug 3, 2012 6:47am
Quoting rasc00
Hi Landre, I have looked very briefly at the ebooks you kindly posted and it appears at first sight that this supply and demand system is just another name for trading between support and resistance. I will read them further later and follow up my comment here if I change my view. But the way the system explains trading is totally sound and a good basis for learning. Glad to see your trades are turning positive. I didn't find anything useful at all in Dayboys posts (I mean nothing I could learn anything from) so am no longer following that - I am not interested in a signal service
Yeah it looks like the same thing but the idea of swap level from the Kenneth Lee pfd is quite a good thing to spot levels.
You can learn from Dayboy posts : you need to understand where his levels come from. I don't know much about his trading strategy but from his graphs it looks like he's using kind of supply/demand levels. His trading is not that easy because you really need to be well disciplined and also to react quickly. I can't be sure but I won't be surprised if he's using sometime a 1minute chart. Ask him.

I have read that you are using indicators, you should give them up. I mean every successful trade would explain you that they are not useful. If successful trading with indicators was possible, it would be too easy to use them with some EA. So believe, you should focus on supply/demand level. Look at graphs, try to understand them and trade them.

Now what's your strategy ? How long have you been in forex for ?
  • #153
  • Aug 3, 2012 7:00am Aug 3, 2012 7:00am
Quoting landre
Yeah it looks like the same thing but the idea of swap level from the Kenneth Lee pfd is quite a good thing to spot levels.
You can learn from Dayboy posts : you need to understand where his levels come from. I don't know much about his trading strategy but from his graphs it looks like he's using kind of supply/demand levels. His trading is not that easy because you really need to be well disciplined and also to react quickly. I can't be sure but I won't be surprised if he's using sometime a 1minute chart. Ask him.

I have read that you are using...
Well all this type of trading is totally new to me but is certainly very interesting. I couldn't get anything out of anyone on Dayboys posts to explain what was going on, so of course in that context it was of no value to me at all. I am happy to give up indicators but I would need to replace them with another system, so I will continue with them for now until I decide to switch to supply/demand style - which I have yet to fully grasp.

I have been trading FX for about 2 years with little success but now need to make some money properly so am focusing my time on FX strategies and refining things. The attached pic shows my strategy - I mainly trade EUR/USD on the 15min time frame. I simply wait for a bounce level as shown by the yellow 3 indicators and then wait for a moving average crossover (ma's of 8 and 13). The other indicators really just confirm. I do also play around allot with Ichimoku strategies.

Do I take it that you are French as your profile shows you live in France?
Nil Desperandum Illegitimi Carborundum
  • #154
  • Aug 3, 2012 7:01am Aug 3, 2012 7:01am
Sorry pic attached here.
Attached Image (click to enlarge)
Click to Enlarge Name: Capture_08032012_125040.jpg Size: 285 KB
Nil Desperandum Illegitimi Carborundum
  • #155
  • Aug 3, 2012 7:20am Aug 3, 2012 7:20am
Quoting rasc00
Well all this type of trading is totally new to me but is certainly very interesting. I couldn't get anything out of anyone on Dayboys posts to explain what was going on, so of course in that context it was of no value to me at all. I am happy to give up indicators but I would need to replace them with another system, so I will continue with them for now until I decide to switch to supply/demand style - which I have yet to fully grasp.

I have been trading FX for about 2 years with little success but now need to make some money properly so am...
Yes I am.
I understand that you keep your system until you fully understand the S/D one. Open a demo account and trade with it but even if it looks good it's not an easy one, in my case I'm still not making money consistently.


What's your TP/SL on that trade ? Don't forget the news coming in 15 min. You don't think that the moving average crossover is a bit lagging to open a short ? I mean we were next to the 1.224x and if you look at a 5m chart you should see this zone where the move up has been stopped for a moment this morning. So the pair should react there. What I want to told you is that if you use you Supply/Demand you could have spotted the 1.2285 level and opened a trade there, and now you would have taken your profit but well it's not that easy because there were plenty of supply levels which don't stop the pair this morning so the difficult part is to use the good ones.
  • #156
  • Aug 3, 2012 7:44am Aug 3, 2012 7:44am
Quoting landre
Yes I am.
I understand that you keep your system until you fully understand the S/D one. Open a demo account and trade with it but even if it looks good it's not an easy one, in my case I'm still not making money consistently.


What's your TP/SL on that trade ? Don't forget the news coming in 15 min. You don't think that the moving average crossover is a bit lagging to open a short ? I mean we were next to the 1.224x and if you look at a 5m chart you should see this zone where the move up has been stopped for a moment this morning. So the pair...

I never set a TP level - I just wait until the indicators show it is going to reverse. The SL I set at the pivot level - in that trade it was at the yellow 3 level - so its an easy system to trade and on the 15 min timeframe, it has proved profitable for me. I cam out of that trade at 1.2234 - yes I was aware of the news. Interesting that supply/demand showed 2285 also - I certainly would have taken it there had I known.

Your English is amazing may I say ! My French is poor but I have been to France many times and I know enough to get by - which town are you from?
Nil Desperandum Illegitimi Carborundum
  • #157
  • Aug 3, 2012 7:54am Aug 3, 2012 7:54am
Quoting rasc00
I never set a TP level - I just wait until the indicators show it is going to reverse. The SL I set at the pivot level - in that trade it was at the yellow 3 level - so its an easy system to trade and on the 15 min timeframe, it has proved profitable for me. I cam out of that trade at 1.2234 - yes I was aware of the news. Interesting that supply/demand showed 2285 also - I certainly would have taken it there had I known.

Your English is amazing may I say ! My French is poor but I have been to France many times and I know enough to get by - which...
I'm currently living in Paris but I'm from Brittany (west part of France).
I'm sorry about my poor English, I hope at least that you understand the basic ideas of what I say.
Nice one for you trade. I trade the news also after the first bounce on the 1.2220, I opened a long at 1.2247 and I got stopped at 1.2220 (2nd attempt) : -27pips and then as the 1.2220 doesn't break I took another long at 1.2227 and I closed it at 1.2270 : +43pips. +16 pips on the news well trading the news is really risky and the reward is not that good . Now we are back at the 1.224x zone below 1.2220 and above 1.2266.
The news are a bit mixed : good NFP but unemployment rate increasing so QE or not QE ?
  • #158
  • Aug 3, 2012 8:05am Aug 3, 2012 8:05am
Quoting landre
I'm currently living in Paris but I'm from Brittany (west part of France).
I'm sorry about my poor English, I hope at least that you understand the basic ideas of what I say.
Nice one for you trade. I trade the news also after the first bounce on the 1.2220, I opened a long at 1.2247 and I got stopped at 1.2220 (2nd attempt) : -27pips and then as the 1.2220 doesn't break I took another long at 1.2227 and I closed it at 1.2270 : +43pips. +16 pips on the news well trading the news is really risky and the reward is not that good . Now we are back...
No no - I meant that your English is perfect - really good. I was last in Paris 4 years ago - took my mother on her first visit there, which she loved. I have been to Nantes and Le Mans which I think are in Brittany.

I agree - trading the news is very risky so it is rare I now do it. Its good to see your trades are now winning - do you hope to trade for a living? That is my goal but am a long way from it yet! You have certainly got me very interested in Supply/Demand trading and I will read these ebooks carefully and hope to be able to give you some constructive views on it and also your trades.
Nil Desperandum Illegitimi Carborundum
  • #159
  • Aug 4, 2012 7:23pm Aug 4, 2012 7:23pm
Came across the attached document which may be of interest to you.
Attached File(s)
File Type: doc Dustbin Trading.doc   35 KB | 1,653 downloads
Nil Desperandum Illegitimi Carborundum
  • #160
  • Aug 5, 2012 3:46pm Aug 5, 2012 3:46pm
Quoting rasc00
No no - I meant that your English is perfect - really good. I was last in Paris 4 years ago - took my mother on her first visit there, which she loved. I have been to Nantes and Le Mans which I think are in Brittany.
Not exactly but there are close to Brittany .
Quoting rasc00
I agree - trading the news is very risky so it is rare I now do it. Its good to see your trades are now winning - do you hope to trade for a living? That is my goal but am a long way from it yet! You have certainly got me very interested in Supply/Demand trading and I will read these ebooks carefully and hope to be able to give you some constructive views on it and also your trades.
I would like to trade for living but well I still have to learn many things.
Quoting rasc00
Came across the attached document which may be of interest to you.
This is an interesting document but well I would not trade a system with a 12-20 pips TP and a 30 pips SL. I mean the same one with a 10 pips SL is doable I think. I don't know the SL used by DayBoy.

Last friday, I got a pretty rough time with 4 losers : 4 shorts whereas the trend was up and it was NFP friday. I have already experienced this kind of losing friday afternoon but I still have to learn..

EURUSD
Sell @1.2295 => 1.2312 : -17 pips
Sell @1.2326 => 1.2339 : -13 pips
Sell @1.2336 => 1.2352 : -16 pips
Sell @1.2370 => 1.2379 : -9 pips
- 55 pips , have a look at the chart.

So this week :
+ 45 pips : 10 winners - 11 losers (1 BE)
Still not really good, I don't lose but I don't win enough pips.
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd 1h 2012.08.04.png Size: 92 KB
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