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C-12's Supply, Demand and PA thread

  • #201
  • Oct 26, 2012 5:36pm Oct 26, 2012 5:36pm
Quoting Salestrainer
I also trade 1min. charts,looking forward to thread. Anyone else use trailing use trailing stops to take profit?
I experimented with it, as a scalper with a tight SL you just get to many SL hits for no reason, move up 4 then back 4 and out for -1 doh!!

manually just below previous low ( if long ) works for me and keeping moving.

I'd like a 50% trailing SL, price moves up 2 pips, SL moves up 1 pip, but don't trade MT4 if you do, write / find 1.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #202
  • Oct 28, 2012 10:22am Oct 28, 2012 10:22am
The legendary trader redsword11

http://www.forexfactory.com/redsword11

If you've got nothing to do this Sunday afternoon, you can do a lot worse than reading this guy's charts, post and insights.
  • #203
  • Oct 29, 2012 3:39am Oct 29, 2012 3:39am
Never scalp on 1 minute chart before.
Testing the pepperstone demo account.
Spotted this AUD/USD supply level on the 1 minute chart but my pending order didn't get filled.

Does this happen to all of you who trade the 1 minute chart? Is this common for scalpers?
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  • #204
  • Oct 29, 2012 4:12am Oct 29, 2012 4:12am
Quoting antaly
...but my pending order didn't get filled.
Because of pepperstone's spreads...
  • #205
  • Oct 29, 2012 5:04am Oct 29, 2012 5:04am
Quoting antaly
Never scalp on 1 minute chart before.
Testing the pepperstone demo account.
Spotted this AUD/USD supply level on the 1 minute chart but my pending order didn't get filled.

Does this happen to all of you who trade the 1 minute chart? Is this common for scalpers?
I don't use limit orders so I can't comment. It shouldn't be spread since MT4 uses the bid price but the level you took was only 1 pip wide, who knows? Nice little level you picked though. Getting 6 pips out of that level was just too easy.

Anyway. Turned on my screen to see this. I can react fast when I see this since I know these levels so well.

This type of scalp is my bread and butter... But of course you all know that by now.
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  • #206
  • Oct 29, 2012 5:15am Oct 29, 2012 5:15am
Sweet trade!, C-12 .

I had marked exactly the same level today! But I decided not to enter this trade as i could not spot any reversal signals!

May i ask!? on what basis you decided to enter this particular trade?

Regards

Quoting C-12
I don't use limit orders so I can't comment. It shouldn't be spread since MT4 uses the bid price but the level you took was only 1 pip wide, who knows? Nice little level you picked though. Getting 6 pips out of that level was just too easy.

Anyway. Turned on my screen to see this. I can react fast when I see this since I know these levels so well.

This type of scalp is my bread and butter... But of course you all know that by now.
  • #207
  • Oct 29, 2012 5:21am Oct 29, 2012 5:21am
Quoting logesharun
Sweet trade!, C-12 .
May i ask!? on what basis you decided to enter this particular trade?

Regards
I took this when I saw the red rejection candle after it touched the level.

Although it didn't look like an amazing rejection bar (pin bar etc...) I see these levels succeed so often that I had no issues taking this.

If you keep practicing you kind of just trade in auto pilot mode without too much thought.
  • #208
  • Oct 29, 2012 5:28am Oct 29, 2012 5:28am
Quoting C-12
I took this when I saw the red rejection candle after it touched the level.

Although it didn't look like an amazing rejection bar (pin bar etc...) I see these levels succeed so often that I had no issues taking this.

If you keep practicing you kind of just trade in auto pilot mode without too much thought.
hey C 12,

An arrow on your entry candle,could be a help on your charts,you could have entered on any of 4 candles on that example?

thanks
  • #209
  • Oct 29, 2012 5:37am Oct 29, 2012 5:37am
Quoting FOURX
hey C 12,

An arrow on your entry candle,could be a help on your charts,you could have entered on any of 4 candles on that example?

thanks
Sure, but I would say in 95% of the time I'm in on the first candle after the level has been touched.

If the level is good I want in ASAP.
  • #210
  • Oct 29, 2012 5:39am Oct 29, 2012 5:39am
  • #211
  • Oct 29, 2012 5:48am Oct 29, 2012 5:48am
does that mean you usually wait till you get at least 1 close outside the zone?

Quoting C-12
Sure, but I would say in 95% of the time I'm in on the first candle after the level has been touched.

If the level is good I want in ASAP.
Money is important, Love is essential.
  • #212
  • Oct 29, 2012 6:02am Oct 29, 2012 6:02am
Quoting Ati Baia
does that mean you usually wait till you get at least 1 close outside the zone?
As soon as I see price hit the level and turn I want in.

What I'm doing is making sure bank / institutional limit orders are present at my level. That's all I'm interested in.

I'm not looking for candle patterns, closes or pretty shapes or anything.

I just want some confirmation that my level has orders there and price isn't just going to blast clean through it.
  • #213
  • Oct 29, 2012 6:06am Oct 29, 2012 6:06am
Thanks
Ati
Money is important, Love is essential.
  • #214
  • Oct 29, 2012 6:06am Oct 29, 2012 6:06am
I have got hold of an awesome new tool for identifying multiple timeframe S&D levels on the one chart. I'm just testing it now with my Alerter4U but I'm really excited about the potential of this!!

Will update this when I'm happy it's working properly.
  • #215
  • Oct 29, 2012 6:49am Oct 29, 2012 6:49am
Thanks for the reply C-12!

But, in your recent post you have mentioned something about looking for bank / institutional limit orders at the levels rather than concentrating on patterns?

Do you confirm the existence of limit orders at the levels using rejections or am i missing something here?

Regards

Quoting C-12
I took this when I saw the red rejection candle after it touched the level.

Although it didn't look like an amazing rejection bar (pin bar etc...) I see these levels succeed so often that I had no issues taking this.

If you keep practicing you kind of just trade in auto pilot mode without too much thought.
  • #216
  • Oct 29, 2012 7:44am Oct 29, 2012 7:44am
Quoting logesharun
Do you confirm the existence of limit orders at the levels using rejections or am i missing something here?
That's exactly it. Just any indication the level is good works for me.

Try it out on demo. Keep marking off loads of levels and get a ton of practice with it. It shouldn't take long before you get good at this.
  • #217
  • Oct 29, 2012 10:41am Oct 29, 2012 10:41am
Quoting C-12
I don't use limit orders so I can't comment. It shouldn't be spread since MT4 uses the bid price but the level you took was only 1 pip wide, who knows? Nice little level you picked though. Getting 6 pips out of that level was just too easy.

Anyway. Turned on my screen to see this. I can react fast when I see this since I know these levels so well.

This type of scalp is my bread and butter... But of course you all know that by now.
Nice trade C-12

Maybe pending orders are not suitable for small levels and scalping.
So you don't trade using pending order? Do you set your SL and TP once you enter the market?
When there're several pretty levels that are created at the same time, how do you evaluate them and what do you base on when making decision?

Just like the EUR/USD supply level you picked just now, there're also supply level created on AUD/USD and GBP/USD at the same time. However, the price didn't get back to those 3 levels at the same time.

Would be nice to pick all these 3 levels
But I didn't set pending orders on those 3 levels because I feel like the risk get tripled if I do so.

What do you think?
  • #218
  • Oct 29, 2012 10:55am Oct 29, 2012 10:55am
Quoting antaly
Nice trade C-12

Maybe pending orders are not suitable for small levels and scalping.
So you don't trade using pending order? Do you set your SL and TP once you enter the market?
When there're several pretty levels that are created at the same time, how do you evaluate them and what do you base on when making decision?

Just like the EUR/USD supply level you picked just now, there're also supply level created on AUD/USD and GBP/USD at the same time. However, the price didn't get back to those 3 levels at the same time.

Would...
All my orders start with a default SL and TP (50% profits) at 6 pips. I use the Luktom Visual order editor to drag my SL and TP around a little depending on the location of surrounding S/D levels.

If price arrives at a similar level on multiple pairs I'd take the best looking setup with the best higher time frame support.
  • #219
  • Oct 29, 2012 11:18am Oct 29, 2012 11:18am
Hi everyone,

I wanted to contribute an important lesson that C-12 and others champion every day ... one must look at the higher time frames first, then we can go to the smaller time frames to nail a good entry.

Today we had a great example of a setup on EURUSD off the 30min charts, and then we zoom in on the 5-min.

Good for an easy 20 pips, taking 3 pips risk.
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  • #220
  • Oct 29, 2012 11:24am Oct 29, 2012 11:24am
Good stuff EP.

So did anyone catch this? I'm at work right now but I marked this level off before I set off.
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