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  • #3,461
  • Edited 11:40am Sep 21, 2012 11:21am | Edited 11:40am
Hi LJ

Thank you for your thoughts re the chart I posted ,your response provided
more than enough detail for some one who is orientating himself to trade
your methods. At present I do not have the confidence to go down to a one minute decision point at at bo of an daily s/r level.

This is my 1st week on this thread I am happy with progress , I see the
potential.

regards

m
Constant and never ending improvement
  • #3,462
  • Sep 21, 2012 11:24am Sep 21, 2012 11:24am
Quoting Chanya
Took a successful short trade based on EUR USD supply H1 , Took profit at FLS represented by blue area ... Took Long there considering it as a FTB for SNR and took a loss ... LJ , what was wrong with my long entry bro ???
Just to explain what Greenhaze was saying with some more examples...

1. The EU short, notice how clear this SR is, both as a flip zone and more importantly as support most recently.

See how price is building up towards a breakout - multiple tests of support with no significant reaction.

Then see how price paused before the breakout as the last demand was consumed (forming a tiny DBD in the process) before we had the usual breakout rush.

This is a prime example of a great SR to be using for an FTB trade - as long as price comes back after moving a material distance away from the zone and spending a material time away from the zone i.e. the arc like return.

2. The EU long, notice on the same M5 TF that the history at this level is nowhere near as 'clean' - if you look to the left you can see the box area - strong order-flow around an SR is what we expect - this is messy and not crisp and clean like we expect.

The only real history is two recent touches - and look what happened when price had the breakout - no pause, it just cut straight through - this tells me this is not a significant SR - its ability to cause price to react away from it is weak at best.
Attached Image(s) (click to enlarge)
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  • #3,463
  • Sep 21, 2012 11:27am Sep 21, 2012 11:27am
Another recent example of a good clear SR that we want to use for an FTB - Brent Oil. H4 TF and then M15 TF.

Notice how clear this SR is on H4 (also notice where price bounced from before the FTB ). Then on M5 you can again see how clear it is and price forms a DBD just below the SR i.e. we have the breakout, price has the immediate retest to confirm the resistance as supply before the breakout continues.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: brent H4.jpg Size: 60 KB
Click to Enlarge Name: Brent M15.jpg Size: 78 KB
  • #3,464
  • Sep 21, 2012 11:30am Sep 21, 2012 11:30am
Quoting lovejoy80
Just to explain what Greenhaze was saying with some more examples...

1. The EU short, notice how clear this SR is, both as a flip zone and more importantly as support most recently.

See how price is building up towards a breakout - multiple tests of support with no significant reaction.

Then see how price paused before the breakout as the last demand was consumed (forming a tiny DBD in the process) before we had the usual breakout rush.

This is a prime example of a great SR to be using for an FTB trade - as long as price comes back...
Makes sense , Thanks
Human
  • #3,465
  • Sep 21, 2012 11:32am Sep 21, 2012 11:32am
Ok, that's me done for the week folks. Still aiming to upload the first video regarding FTB's over the weekend to my website.

Have a good weekend all.
  • #3,466
  • Edited 3:27pm Sep 21, 2012 3:17pm | Edited 3:27pm
Forgot to upload my trade for the day. A quick short scalp on EU - based on the strong rejection from supply and the likelihood that the support price was sitting on was about to give way as demand had been tested multiple times. Exited at the FLR for +2.08R

Quiet last 2 days of the week but in total I had 9 trades last week with a net result of just under +16R.

The FTB setups I upload to the Trading Room each morning are running at an 88% hit rate with 23 winning trades out of 26 for September.

Just running this strategy alone (and I trade much more than just FTB's) if traded correctly (i.e. not using hard rules, not being stupidly over picky, not being mechanical and not using needlessly wide stops) can produce good trade frequency, very good win rate and an average long term R to an FLR/S of at least 1R. You can see why I keep saying people should easily be making >10-15R+ per month if they really understand price action trading in it's purest form.
Attached Image (click to enlarge)
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  • #3,467
  • Sep 22, 2012 3:27am Sep 22, 2012 3:27am
LJ , worthy Setup ?
Attached Image (click to enlarge)
Click to Enlarge Name: 1.gif Size: 19 KB
Human
  • #3,468
  • Edited 7:38am Sep 22, 2012 6:34am | Edited 7:38am
Hey guys,did some weekend work,took me few hours though,but i have attached some snippets of what Lovejoy has been teaching from this thread so far.Just to tell u,none of the snippets contains any trade-setup examples,you can learn the setups by following the current pace of the thread which will also help in vivid understanding.The snippets contains more of theoretical explanations of Lovejoy which exposes the reality of price-action trading,professional vs retail mindset,his style of trading,recommendations and some of his thoughts about PA trading.All informative posts.

Ppl following this thread since the start may not need to go through this,but i hope for newcomers this becomes easy to sift through the information scattered around this thread and hope this also helps to reduce some LJ's work . So all i have done is clubbed the information by capturing snapshots.

There are 81 pics in all .i have captioned all of the pics with its 'Post No.' just in case if you feel to refer to that post.i forgot to caption one of the pic but hope thats not much of prob.

Happy weekend .
Attached File(s)
File Type: rar LJ.rar   2.4 MB | 1,252 downloads
  • #3,469
  • Sep 22, 2012 6:38am Sep 22, 2012 6:38am
well done avanish , and thx a lot
  • #3,470
  • Sep 22, 2012 8:20am Sep 22, 2012 8:20am
Quoting Chanya
LJ , worthy Setup ?
I'am not LJ, but i like to share my view. Imho with these FB-trades an important issue is the TF in which you see the FB. In order to get the most out of an FB-trade (the most optimal entry) the TF where the FB is materialized first would be the best TF to trigger a FB-trade. Let me use your GU-example, if you would've switched to the 8H-TF you'll see that the FB already has materialized and price has already dropped, so to enter now via the daily FB would not be optimal with regard to our R/R-ratio, you're too late so to speak. With the LTF FB's this is not such a issue, but with HTF FB's this is imho. Also note there was a selltrap before the bulltrap
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Pipcrawler
  • #3,471
  • Sep 23, 2012 1:50am Sep 23, 2012 1:50am
Quoting AvanishDemo
Hey guys,did some weekend work,took me few hours though,but i have attached some snippets of what Lovejoy has been teaching from this thread so far.

Happy weekend .
Hey Avanish,

Gr8 work, many thanks. This would certainly help people like me who are late and new to this thread.
Success is 1 % intelligence and 99% perseverance - Edison
  • #3,472
  • Sep 23, 2012 5:27am Sep 23, 2012 5:27am
Quoting xmzhang
Also note there was a selltrap before the bulltrap
Where is the selltrap and where is the bulltrap? Which chart and where to note that?
No longer trading forex. Looking for full time job.
  • #3,473
  • Sep 23, 2012 5:37am Sep 23, 2012 5:37am
Quoting AvanishDemo
Hey guys,did some weekend work,took me few hours though,but i have attached some snippets of what Lovejoy has been teaching from this thread so far.Just to tell u,none of the snippets contains any trade-setup examples,you can learn the setups by following the current pace of the thread which will also help in vivid understanding.The snippets contains more of theoretical explanations of Lovejoy which exposes the reality of price-action trading,professional vs retail mindset,his style of trading,recommendations and some of his thoughts about PA trading.All...
Thanks Avanish! Is there any reason why the notes started from post #75? Still it is good reading materials for me and I appreciate your efforts.
No longer trading forex. Looking for full time job.
  • #3,474
  • Sep 23, 2012 6:06am Sep 23, 2012 6:06am
Quoting mmaker
Is there any reason why the notes started from post #75?
No. nothing like that,just tried my best to club all the info. into one convenient reading material.
  • #3,475
  • Sep 23, 2012 7:59am Sep 23, 2012 7:59am
Mark, thanx for uploading the FTB-vid, good stuff as usual
Pipcrawler
  • #3,476
  • Sep 23, 2012 8:20am Sep 23, 2012 8:20am
Quoting xmzhang
Mark, thanx for uploading the FTB-vid, good stuff as usual
I second that. A very clear and objective approach to FTB PA trading.
  • #3,477
  • Sep 23, 2012 8:58am Sep 23, 2012 8:58am
Quoting xmzhang
Mark, thanx for uploading the FTB-vid, good stuff as usual
Man I am so happy ...
Human
  • #3,478
  • Edited 10:12am Sep 23, 2012 10:02am | Edited 10:12am
I'm very new to this method, in fact, I came from the dark side of indicators-filled charting systems and automated trading robots. I want to learn this method.

I hope I don't come across as offending or troublemaking, but can anyone tell me if this style is similar or different or improvement or variation of the following that I've heard of in the past?

- James16 Group
- Sam Seiden's Supply/Demand
- Lance Beggs' YourTradingCoach.com
No longer trading forex. Looking for full time job.
  • #3,479
  • Sep 23, 2012 10:32am Sep 23, 2012 10:32am
Quoting Chanya
LJ , worthy Setup ?
I pretty much concur with Xmzhang on this. It was a great area to be looking for a short opportunity, but the real setup was on the lower time-frames and based on the daily TF not sure I'd be overly keen.

Will take a proper look later when I review my charts for the week.
  • #3,480
  • Sep 23, 2012 10:33am Sep 23, 2012 10:33am
Quoting AvanishDemo
Hey guys,did some weekend work,took me few hours though,but i have attached some snippets of what Lovejoy has been teaching from this thread so far.Just to tell u,none of the snippets contains any trade-setup examples,you can learn the setups by following the current pace of the thread which will also help in vivid understanding.The snippets contains more of theoretical explanations of Lovejoy which exposes the reality of price-action trading,professional vs retail mindset,his style of trading,recommendations and some of his thoughts about PA trading.All...
Nice one! Thanks for doing this.
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