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C-12's Supply, Demand and PA thread

  • #81
  • Oct 24, 2012 4:17am Oct 24, 2012 4:17am
Hi everyone,

Congrats C-12 on the new thread!

This morning, GBPUSD, long at a 5-min/1-min Demand zone, good for its 25pips target.

Cheers.
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  • #82
  • Oct 24, 2012 4:19am Oct 24, 2012 4:19am
Quoting EuroPipper
Hi everyone,

Congrats C-12 on the new thread!

This morning, GBPUSD, long at a 5-min/1-min Demand zone, good for its 25pips target.
You only need to catch one of them a day and you can make a good living out of this.
  • #83
  • Oct 24, 2012 5:32am Oct 24, 2012 5:32am
I'm wary of breakout trades but I saw price chop through that morning supply level and then came back up to it aggressively.

Took a quick long, grabbed my 6 and straight to BE. It's the only way I'd trade these.
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  • #84
  • Oct 24, 2012 6:01am Oct 24, 2012 6:01am
This should need no explanation.
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  • #85
  • Oct 24, 2012 6:06am Oct 24, 2012 6:06am
hi C-12,

*may I ask how broad (pips) do you draw your zones: always the same or depending on the situation

* you seem to have very tight spreads:
- how about news time: do they increase a lot?
- do you have other costs /commissions
- do you get filled most of the time...

For how long have you been with them (which borker?)?

Cheers
Ati
Money is important, Love is essential.
  • #86
  • Oct 24, 2012 6:12am Oct 24, 2012 6:12am
Quoting Ati Baia
hi C-12,

*may I ask how broad (pips) do you draw your zones: always the same or depending on the situation

* you seem to have very tight spreads:
- how about news time: do they increase a lot?
- do you have other costs /commissions
- do you get filled most of the time...

For how long have you been with them (which borker?)?

Cheers
Ati
Drawn zones are dependent on the level. I don't want to force fit a level that isn't there. If it's too wide I'll drop to a lower time frame to tighten up.

The broker is Armada Markets and the exchange account is commission based and so far I've had no problems. Great spreads and fills. I've noticed nothing dodgy at all... Although my account size isn't that big.

I think once I get to the stage that I want to trade with a $10,000+ account I may move over to LMAX (mostly for the FCA guarantee) but this broker is fine for now.
  • #87
  • Oct 24, 2012 6:28am Oct 24, 2012 6:28am
Thanks
Ati
Money is important, Love is essential.
  • #88
  • Oct 24, 2012 8:19am Oct 24, 2012 8:19am
EU: just sold at 1.2980 took half off at 1.2974 and now i'm in a free trade, lets see where this goes
  • #89
  • Oct 24, 2012 8:25am Oct 24, 2012 8:25am
Quoting C-12
You only need to catch one of them a day and you can make a good living out of this.

Absolutely right C-12.

Quick update on GBPUSD from this morning, I've taken half-position off at the 25 pips target mentioned earlier and let the rest run.

Stop on the other half remains at BE so I can allow for volatility later on (Fed annoucement).
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  • #90
  • Oct 24, 2012 8:26am Oct 24, 2012 8:26am
Quoting Good Lookin
EU: just sold at 1.2980 took half off at 1.2974 and now i'm in a free trade, lets see where this goes
Yep I'm in this. Was a clear rejection off a H4 level. Hard to ignore those levels.
  • #91
  • Oct 24, 2012 8:30am Oct 24, 2012 8:30am
Quoting EuroPipper
Absolutely right C-12.

Quick update on GBPUSD from this morning, I've taken half-position off at the 25 pips target mentioned earlier and let the rest run.

Stop on the other half remains at BE so I can allow for volatility later on (Fed annoucement).
This is where my weakness is. I cannot hold trades at all. I get twitchy when I see profits on the table. Need to work on this!

Nice trading here.
  • #92
  • Oct 24, 2012 8:40am Oct 24, 2012 8:40am
Quoting C-12
This is where my weakness is. I cannot hold trades at all. I get twitchy when I see profits on the table. Need to work on this!

Nice trading here.

Thank you C-12!

It may not be necessarily your weakness - I don't specialise in 1-min chart trading like you do, and on the 1-min there is really no way of knowing or hoping for massive runners.

I took this GBPUSD trade on the basis of the 1-hour chart with 5-min for precise entry. The 1-hour time frame gave me the view that I'm not looking to scalp it, instead hold it for 20+ pips, which I did, and then had the leeway to put a BE stop on the other half.

The reason I allowed myself to add this trade to your thread is because it was, in any case, a great 1-min scalp opportunity, which worked out handsomely ;-)

On the 5-min/1-min chart, I'd scalp and run as you do, which in the long term seems to be very successful for you.
  • #93
  • Oct 24, 2012 8:55am Oct 24, 2012 8:55am
Quoting EuroPipper
The reason I allowed myself to add this trade to your thread is because it was, in any case, a great 1-min scalp opportunity, which worked out handsomely ;-)
Oh this thread is not just for the 1 minute, I do still trade off larger levels as well myself. All charts are more than welcome here since the larger time frames are the most important.
  • #94
  • Oct 24, 2012 9:02am Oct 24, 2012 9:02am
Quoting EuroPipper
Stop on the other half remains at BE so I can allow for volatility later on (Fed annoucement).
Yeah I think today just looks like a pump and dump, especially for the GBPUSD. It's well over it's ATR and primed for a fall. I've been stopped out a few times today trying to short this sucker, not the greatest day.

I'm now back in on the short side.

These pre FOMC announcement days can be quite tricky to trade and can bleed your account.
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  • #95
  • Edited 12:03pm Oct 24, 2012 9:11am | Edited 12:03pm
Eh, whatcha gonna do
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Edit: Turns out i got out at 75 for the 1st half
  • #96
  • Oct 24, 2012 9:14am Oct 24, 2012 9:14am
Quoting Good Lookin
Eh, whatcha gonna do
Attachment
Yeah I got my 6 pips x 2 out of this and then a BE stop out. My concern being that upper level.

I'm heavily short GBP so I'll wait and see if I can get another clean entry.
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  • #97
  • Oct 24, 2012 10:34am Oct 24, 2012 10:34am
Quoting C-12
Yeah I think today just looks like a pump and dump, especially for the GBPUSD. It's well over it's ATR and primed for a fall. I've been stopped out a few times today trying to short this sucker, not the greatest day.

I'm now back in on the short side.

These pre FOMC announcement days can be quite tricky to trade and can bleed your account.
Hi,

How do you measure ATR?

Thanks
  • #98
  • Oct 24, 2012 11:10am Oct 24, 2012 11:10am
Quoting 4Xfactor
Hi,

How do you measure ATR?

Thanks
I've got an indicator that puts the daily trading range projections on the chart. Will dig it out and add it to the first post later.

Just a quick update on the GBP trade, locked in profits on 2 positions and going to see how far I can run this last one.
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  • #99
  • Oct 24, 2012 11:36am Oct 24, 2012 11:36am
GBPUSD H4 candle does look bearish with no clear demand for another 60 pips.. Who knows, maybe I'll actually hold a trade.
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  • #100
  • Oct 24, 2012 11:42am Oct 24, 2012 11:42am
Just a quick update on the GBP trade, locked in profits on 2 positions and going to see how far I can run this last one.[/quote]

Hi C-12, may I know which supply are you trading at this position you currently holding? Or are you trading breakout for this?
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