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C-12's Supply, Demand and PA thread

  • #321
  • Nov 7, 2012 3:02am Nov 7, 2012 3:02am
Here's M5. The levels in blue may well turned price but these are more 'speed bump's for me. I'd be more comfortable taking shorts and see if any fresh M1 levels form during the session.
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  • #322
  • Nov 7, 2012 3:07am Nov 7, 2012 3:07am
But as an M1 trader, if there's a strong directional bias I'm good with jumping in with a small 'pullback' level like this... I need confirmation and my stop will go to BE very quickly.

I get a load of BE stop outs on these kind of levels but I'm good with that.
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  • #323
  • Nov 7, 2012 3:16am Nov 7, 2012 3:16am
C-12,

Thanks a lot .. very kind of you.
R

Is the EUR/USD your main pair?
  • #324
  • Nov 7, 2012 3:28am Nov 7, 2012 3:28am
Quoting Ratatuia
C-12,

Thanks a lot .. very kind of you.
R

Is the EUR/USD your main pair?
Yep, I'd say over 60% of my trades are the EURUSD. It's the biggest currency pair in the world and spreads are always great.
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  • #325
  • Nov 7, 2012 3:32am Nov 7, 2012 3:32am
Quoting PeterXXIII
What do you think? Please let me know!

Peter

Attachment
Peter, I tend not to look for specific M1 levels so far out. For M1 I'm mostly looking on what I can see on my immediate screen.
  • #326
  • Nov 7, 2012 4:37am Nov 7, 2012 4:37am
Quoting C-12
Peter, I tend not to look for specific M1 levels so far out. For M1 I'm mostly looking on what I can see on my immediate screen.
I understand, thank you!

That 1,2835 level was good...
  • #327
  • Nov 7, 2012 4:54am Nov 7, 2012 4:54am
Last 1/4 got stopped for BE.... Oh well, guess I'll have to just get back onboard again.
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  • #328
  • Nov 7, 2012 5:02am Nov 7, 2012 5:02am
Look at that drop!

Nice reactive trading
  • #329
  • Nov 7, 2012 5:04am Nov 7, 2012 5:04am
Takes a lot of intuition to take the second touch, I'm too scared to take anything but first touches, but in essence I never trail the positions and have fixed exits before I enter.... passive I know!
  • #330
  • Nov 7, 2012 5:12am Nov 7, 2012 5:12am
Quoting Blad4
Takes a lot of intuition to take the second touch, I'm too scared to take anything but first touches, but in essence I never trail the positions and have fixed exits before I enter.... passive I know!
Yeah I been doing this a while. I'm comfortable jumping back in... It's very rare my break even stop doesn't come under attack.

Anyway. I've stop locked this. Not giving this profit back. Not concerned at all if this runs or not now.

*UPDATE* full exit at M5 demand level. Not going long as not strong enough.
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  • #331
  • Nov 7, 2012 5:39am Nov 7, 2012 5:39am
hi C-12,

would you mind updating if you have added new M1 level....Thanks

Studying through your thread and writing down all my questions ...

regards
R

Quoting C-12
Here's M5. The levels in blue may well turned price but these are more 'speed bump's for me. I'd be more comfortable taking shorts and see if any fresh M1 levels form during the session.
  • #332
  • Nov 7, 2012 5:52am Nov 7, 2012 5:52am
Quoting Ratatuia
hi C-12,

would you mind updating if you have added new M1 level....Thanks

Studying through your thread and writing down all my questions ...

regards
R
Sure. I think shorts are still in order.

Alright. I want to share how I take a loss since I just had one!

I went long (against my own earlier judgement) after a rejection pin. I then saw some ugly price action (red arrow) so bailed on one position so then brought up my second stop behind the lows.

So while my initial stops is fixed at 6 pips I will happily bail earlier. It's vital to cut losers fast!
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  • #333
  • Nov 7, 2012 6:01am Nov 7, 2012 6:01am
One thing as I'm sure you've thought of already so just a reminder.. watching the approach of price, especially on m1, helps as another odd enhancer. I literally wait for the price to 'dive' into a level, and look almost overextended in the immediate wave, before I look to place my limit order to fade that move
  • #334
  • Edited 7:24am Nov 7, 2012 6:06am | Edited 7:24am
Thanks .. loss examples are very helpful too .. otherwise one is tempted to believe all is just honey-water..
Also nice to have your explanation how you did handle it...

Quoting C-12
Sure. I think shorts are still in order.

Alright. I want to share how I take a loss since I just had one!

I went long (against my own earlier judgement) after a rejection pin. I then saw some ugly price action (red arrow) so bailed on one position so then brought up my second stop behind the lows.

So while my initial stops is fixed at 6 pips I will happily bail earlier. It's vital to cut losers fast!
  • #335
  • Nov 7, 2012 6:09am Nov 7, 2012 6:09am
Quoting Ratatuia
hi C-12,

would you mind updating if you have added new M1 level....Thanks

Studying through your thread and writing down all my questions ...

regards
R
Well since price just sliced through a demand level then the retest on the short side was an easy trade. I wasn't in this since I've got some other work to be doing.

Just keep marking these levels off as they form with an eye on the bigger picture.
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  • #336
  • Nov 7, 2012 8:29am Nov 7, 2012 8:29am
hi C-12,

I'm through your thread and have some questions....


Quoting C-12
Hey all
Trade Management
1.
- Initial stops are always 6 pips but can be reduced if the level is small
- 1st position take profit is always 6 pips (sometimes more or less depending on nearest S/D level)

2.
Tools
- Daily, Monthly, Weekly Pivot (only as reference sign posts on multiple time frames, never for trading decisions)
1. do you use the same 6 pips for all pairs (even though they have different average range) ?
2. - Daily, Monthly, Weekly Pivot: do you only display the pivot point ( did not see any S1/R1 etc.. on the charts) any reason for that?


Quoting C-12
However, I don't usually trade Monday and Tuesdays.
any reason?


Quoting C-12
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.
any update or was that the the S/D Rectangle from here??
Quoting C-12
Oh yes....
I'm pleased to share this awesome indicator. It is similar to Gilben's Clean Cut cubes but you can highlight specific colours for individual time frames.



Quoting C-12
Oh and I'm also hosting a thread over at Ace Gazette (www.acegazette.com) where you'll find a ton of other awesome Supply & Demand traders.

Get yourselves registered.
Is that similar/same to your thread here?


kind regards
R
  • #337
  • Nov 7, 2012 8:56am Nov 7, 2012 8:56am
Here are the quick answers to the above questions.

1. Yes I use 6 pips standard if I'm trading any M1 levels. I use a wider stop and smaller position size for higher TF levels.

2. I've scrapped the pivots. It was just added clutter on charts.

3. I work Monday and Tuesday from 2pm UK time, so I can't always manage the trades but I usually break this rule and trade anyway.

4. Yes it was that S/D rectangle tool, very useful.

5. My AG thread is the same thing really but it's a great site!
  • #338
  • Nov 7, 2012 11:33am Nov 7, 2012 11:33am
Thanks a lot
R

Quoting C-12
Here are the quick answers to the above questions. !
  • #339
  • Nov 7, 2012 9:37pm Nov 7, 2012 9:37pm
Took this short @.04226 ..Set SL @ .04265

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Took profit a bit early. A 2 lot for 13.40 total pipage.

Good trading to all

TSD
  • #340
  • Nov 8, 2012 4:55am Nov 8, 2012 4:55am
hi C-12,

would you mind posting a chart with your EUR/USD Zones. Thanks a lot.
Downloaded all the Sam Seiden Webinars as you suggested.. this will take some time to go through

regards
R
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