Extracted Thread (per thread starter's request)

Trade is now closed for plus 320 pips, Rocky...

Very nice trade Rocky. Trying to figure this 6E out right now. Scalped a few but seems like it may piss around a while longer before showing its true hand.

Thank you Rocky

I would agree with using VSA. As you stated, as many of us have seen .. all too many times, price blows right through a level.

And we think to ourslves..That looked like the perfect level... ??

To those trading just PA..This can be very frustrating and costly. Being able to look behind the curtain, so to speak, gives us that added edge that can make the difference.

Thanks Rocky

Good trading to all

TSD

10:45 a.m. Stopped out at plus 25 pips x 2 contracts, Rocky...

Stop loss brought down to a 10 pip risk, 6:17 pm EST

Stopped out at B/E...

Rocky,

I'm new to your thread. Currently trying to go back through all the posts and learn from your advice.

Thanks for putting all of this together! Good stuff.

Bantro1, glad I can help, Welcome to my thread, Rocky...

Rocky,
I have a question which I am hoping you can answer. I also trade using supply and demand zones. Most of the time I day trade. My issues is onentering the trade. As I see it there are two options:
1 Place a pending order at your zone and then when the price hits the zone you are in. In this case you should be prepared to accept the stop loss that might occur in case the zone fails if it has not been identified correctly. However this method also ensures you the best entry.
2 Wait for a confirmation for the price to confirm the validity of the zone. In this case a candle pattern like bullish/bearing engulfing or a pin bar confirmed by the close of a second candle, are some possible confirmations. In this case you do not get the finest entry thereby reducing our profit potential and increasing your stop loss level. This is an uncomfortable situation to be in.
This is especially difficult during narrow range days, which it has been for the most part of the last few months

So my question is what is it that you use and recommend to enter a trade

Many Thanks

Praveensuri, welcome to my thread. Lets start with question #1. I don't trade as much with a limit order as I did in the past. Limit orders are great for the part-time trader who works a regular 9-5 job. Most good Supply/Demand traders will place their orders at a zone before leaving for work. Limit orders will also reduce slippage when trading the spot forex. It does ensure a good win percentage if you are right with your call.

Unfortunately you have no idea what the intentions of the institutions will be when you set a limit order. We have so many traders that are now starting to use this method that eventually the Institutions will capitalize on this and will reverse the market right before the zone or even better will reverse the market 20 or so pips past a qualified zone. They know that most traders have been conditioned to trade with a 15 to 25 pip stop loss. So by intentionally reversing the market 20 or so pips past a zone most retail Supply/Demand traders will be stopped out. This is what I expect the Institutions will start doing aggressively in the near future.

Now lets go to question #2. I use Market orders to place my trades. First reason is I'm a full time trader and I'm able to sit infront of my computer until I locate a setup based on my chart analysis. I trade the "Futures" were the slippage is very minimal.

I have many live "real time" chart examples of how I trade. I trade Supply/Demand combined with "Volume Spread Analysis". With this
technique I am able to read what the Institutions are up to and where they Intend to take the market. I can very accurately know when they are active. Because of this I'm able to place market orders at the finest entries with a better risk reward ratio and a higher win rate than If I simply placed a limit order at a zone. However this takes time to learn and understand. Google "vsa" and you will find educational videos that will help you learn this method.

So to sum it up I trade Supply/Demand, combined with VSA, fibs, trendlines, and MTF. Good Luck, Rocky...

http://www.forexfactory.com/attachme...1&d=1349979216 (http://www.forexfactory.com/attachment.php?attachmentid=1056646&d=1349979216)

Rocky,
Thank you very much for your response. Appreciate it very much. I have also observed that my zones either miss entries by a couple of pips, or overshoot it by couple of pips.
Again appreciate it very much!!

Praveen