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C-12's Supply, Demand and PA thread

  • #41
  • Oct 20, 2012 5:14am Oct 20, 2012 5:14am
Quoting diceman555
stick Jerusalem up your arse,

you troll around threads talking negative insults,

your holding god knows how many eur,usd shorts with thousands of pips drawdown,

your a prick
well done diceman this man seemes to be a scam , or a jealouse someone !!!!!
  • #42
  • Oct 20, 2012 9:53am Oct 20, 2012 9:53am
i really would like to try trading the M1 strategy.

but at first i need a broker which gives me relatively low spread (0,7-1,2 pips) and which offers a cent account.

can anyone tell me which one can offer me this conditions?

@C12: during london session, how do you handle fundamental informations? do you not care and strictly trade the S&D or does news influence your trading style?
  • #43
  • Oct 20, 2012 12:21pm Oct 20, 2012 12:21pm
You might want to give Oanda a look. They meet what you are looking for.

Quoting Infest
i really would like to try trading the M1 strategy.

but at first i need a broker which gives me relatively low spread (0,7-1,2 pips) and which offers a cent account.

can anyone tell me which one can offer me this conditions?

@C12: during london session, how do you handle fundamental informations? do you not care and strictly trade the S&D or does news influence your trading style?
  • #44
  • Oct 21, 2012 8:40am Oct 21, 2012 8:40am
Quoting Infest

@C12: during london session, how do you handle fundamental informations? do you not care and strictly trade the S&D or does news influence your trading style?
My best advice is to have no fundamental bias as it can only harm your trading. The only directional bias should be your higher timeframe S&D levels.

Being aware of the news calendar is important so you get an idea of volitility. Having said that I have successfully traded through large news events without realising there was news until after the event!
  • #45
  • Oct 21, 2012 8:43am Oct 21, 2012 8:43am
Quoting Good Lookin
This is what i do.

Count how many winners you've achieved; W
Count how many loser you've achieved; L
Calculate your Risk Reward and adjust for transaction costs (ie spread, commision); R

Equation; L/(W*R)

This will let you know how much you should take off at your BE point in order that the 1st part taken off will cover your losses over your total trades. Just bear in mind that your history is a static number and the future will always vary so they'll need to be adjusted from month to month. It's always good to recalculate once a month...
Fantastic post GL! I'm going to spend some time investigating this over the next few weeks to find my sweet spot. Lots to consider here.
  • #46
  • Edited 9:42am Oct 21, 2012 9:30am | Edited 9:42am
I want to talk about technical analysis indicators such as fibs, trend lines, oscillators, moving averages, chart patterns etc...

I seriously recommend throwing all of these out your trading toolbox. Think about it.. If 95% of traders fail and 95% use the above technical analysis methods, why would we want to use them??

Big money has to manipulate the market in order to get filled on their orders. How many times do you see a false trend line break or pattern failure? The only thing we need to know is where the big money is buying and selling. We don't need to know how or why. Big money simply cannot hide their activity.

Every time you look at a price chart just ask yourself this one question. Where are the buyers and sellers on this chart?
  • #47
  • Oct 21, 2012 4:54pm Oct 21, 2012 4:54pm
That is a very good question to ask, C-12. More often than not they are found at the extremes in price. That also gives more room for profit and probability.
PIP'N
  • #48
  • Oct 21, 2012 5:59pm Oct 21, 2012 5:59pm
Quoting lindsayf

interesting what you discover doing this...even tho it is tedious to do

L
One thing I've realised is that on some trades I have higher expectations than others. I can setup 2 x luktom EA's with different variables so I can leave a larger position on the table for the ones I expect will run.

For the trades where I only expect 6 - 10 pips at best then I may as well take off most of the position.

Hmm. Will get to work on this next week sometime.
  • #49
  • Oct 21, 2012 9:37pm Oct 21, 2012 9:37pm
How to keep body and mind stay fresh in front of monitor when we trade at one minute chart?
  • #50
  • Oct 22, 2012 3:40am Oct 22, 2012 3:40am
Quoting yusuf84
How to keep body and mind stay fresh in front of monitor when we trade at one minute chart?
The key is Alerter4U, mark your levels and wait for the alarm. Luckily I was at my computer to just catch this one.

However, I don't usually trade Monday and Tuesdays.
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  • #51
  • Oct 22, 2012 4:48am Oct 22, 2012 4:48am
Quoting yusuf84
How to keep body and mind stay fresh in front of monitor when we trade at one minute chart?
I strongly recommend everyone reads Jack Larkin's thread which is very related to this. I also believe Jack is an S&D trader since he's posted on Ken Lee's thread previously.

http://www.forexfactory.com/showthread.php?t=338283

Anyway, the EURUSD arrived in M30 supply (not fresh). I'm usually wary of taking these on the M1, especially in the London session dead zone but there was a nice rejection pin.

Took my 6 pips and now BE + 2. I can get ready for work without any concerns.
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  • #52
  • Oct 22, 2012 6:57am Oct 22, 2012 6:57am
Just an update on a trade I took earlier. Entry candle highlighted with the arrow. I should have learned not to take trades during the London dead zone...

Anyway, the market is moving and I've banked 50% at 6 pips and stop locked the other position (yellow dotted line). Let's see what happens at the NY open.
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  • #53
  • Oct 22, 2012 7:34am Oct 22, 2012 7:34am
Quoting C-12
- Initial stops are always 6 pips but can be reduced if the level is small
- 1st position take profit is always 6 pips

hi C-12,

is your 6pip sL inclusive spread (if so average spread?)

Do you set your SL or execute it manually? What about 1st Take Profit: set or manually

Thanks


Cheers
Ati


Quoting Ati Baia
PerfectENTRY: My current definition of: PerfectENTRY: EUR/USD

1. PerfectENTRY:
is if a Risk:Reward Ratio (R:R) of 1:1 is reached BEFORE SL (incl.Spread) is hit.
- e.g. SPREAD = 1pip: SL 15 pip (incl Spread) - a PerfectENTRY would be if price reaches at least +15 pips before turning back (14 pips) and hit SL

2. PerfectENTRY-StopLoss distance:
at the moment I'm inclined to believe that the PerfectENTRY-StopLoss for EUR/USD is around 4.8 - 8.0 pips (exclusive...
Money is important, Love is essential.
  • #54
  • Oct 22, 2012 7:38am Oct 22, 2012 7:38am
Quoting Ati Baia
hi C-12,

is your 6pip sL inclusive spread (if so average spread?)

Do you set your SL or execute it manually? What about 1st Take Profit: set or manually

Thanks


Cheers
Ati
Yes the 6 pips is inclusive of spread, well it depends on whether I'm long or short since Meta trader uses the bid price. Because my broker has such a low spread I don't really factor it in to be honest.

As for the SL and TP execution its all done via my trade manager tool (luktom) but I do sometimes drag the lines around manually. I mostly decrease the stop size as soon as I place my market order since there is usually no reason to just leave it fixed at 6 pips.
  • #55
  • Oct 22, 2012 7:45am Oct 22, 2012 7:45am
Thanks Ati.
Money is important, Love is essential.
  • #56
  • Oct 22, 2012 10:27am Oct 22, 2012 10:27am
It looks lovely but not quite certain of the settings....
I apologize in advance if this has already been addressed.
Are the defaults what you use?
Not sure what all of those things are.
I put it on a demo and it knocks everything out pretty quick, though in truth, I was just hitting buys and sells, not trying to be strategic.
Again apologies, it I am being redundant.
Scarlett
  • #57
  • Oct 22, 2012 2:53pm Oct 22, 2012 2:53pm
Quoting Scarlett
It looks lovely but not quite certain of the settings....
I apologize in advance if this has already been addressed.
Are the defaults what you use?
Not sure what all of those things are.
I put it on a demo and it knocks everything out pretty quick, though in truth, I was just hitting buys and sells, not trying to be strategic.
Again apologies, it I am being redundant.
Hi yes the Luktom order manager has specific settings. I'll get these to you tomorrow when I'm off work.

Basically you have to add a zero to the pips since the metatrader conversion to 5 digits but I have modified loads of settings.
  • #58
  • Oct 22, 2012 7:29pm Oct 22, 2012 7:29pm
Here are my current settings. I've set the first take profit here at 5 pips and 50% but you can modify this. I'm still trying to find the sweet spot here but I cannot imagine trading without this!

extern string ________STOP_LOSS ;
extern int default_sl_level = 60 ;
extern int default_trailing_stop = 0 ;
extern color sl_color = Orange ;
extern int sl_style = STYLE_DASH;

extern string ________TAKE_PROFIT ;
extern int default_tp_level = 200 ;
extern color tp_color = DarkGray ;
extern int tp_style = STYLE_DASH;

extern string ________BREAK_EVEN ;
extern bool use_be = true ;
extern int default_be_level = 60 ;
extern int be_offset = 10 ;
extern color be_color = Brown ;
extern int be_style = STYLE_DASH;

extern string ________CANCEL_LEVEL ;
extern bool use_cl = false ;
extern int default_cl_level = 100 ;
extern color cl_color = Purple ;
extern int cl_style = STYLE_DASH;

extern string ________CLOSE_PART ;
extern bool use_cp = true ;
extern bool cp_size_or_percent = false ;
extern string cp_levels = "50";
extern string cp_lots = "50";
extern color cp_color = Pink ;
extern int cp_style = STYLE_DASH;
  • #59
  • Edited 3:56am Oct 23, 2012 3:42am | Edited 3:56am
Thank you---ok, got it....
Scarlett
  • #60
  • Oct 23, 2012 4:41am Oct 23, 2012 4:41am
Here's a trade I'm in now. Look at the candle highlighted in blue. It is simply not possible for any buy limit orders to be remaining in the range of that bar.

*update* closed out for 16 pips.
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