Extracted Thread (per thread starter's request) | Page 90 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

1 trade per pair per year 6 replies

multiple systems per pair/multiple pairs per system? 3 replies

Extracted Post (per poster's request) 0 replies

Trading 24 hours per day, 5 days per week 14 replies

Attachments: Extracted Thread (per thread starter's request)
Exit Attachments

Extracted Thread (per thread starter's request)

  • #1,781
  • Feb 11, 2013 7:09pm Feb 11, 2013 7:09pm
Attached Image (click to enlarge)
Click to Enlarge Name: 6N 03-13 (60 Min) 2_11_2013.jpg Size: 118 KB
  • #1,782
  • Feb 12, 2013 8:32am Feb 12, 2013 8:32am
Quoting rocky
Attachment

Attached Image (click to enlarge)
Click to Enlarge Name: 6N 03-13 (60 Min) 2_12_2013.jpg Size: 106 KB
  • #1,783
  • Feb 12, 2013 9:27am Feb 12, 2013 9:27am
Nice stuff rocky.
  • #1,784
  • Feb 12, 2013 1:30pm Feb 12, 2013 1:30pm
Quoting Porkpie
Nice stuff rocky.
Thanks Porkie, Rocky...
  • #1,785
  • Feb 12, 2013 1:31pm Feb 12, 2013 1:31pm
Attached Image (click to enlarge)
Click to Enlarge Name: 6E 03-13 (120 Min) 2_12_2013.jpg Size: 106 KB
  • #1,786
  • Feb 13, 2013 5:41am Feb 13, 2013 5:41am
Got stopped out on GBP. Would appreciate any comments about why the demand zone marked in the attached screenshot failed? ie. it seems to meet Sam Seiden's criteria / odds enhancers (except that a 'BUY' trade was against the longer term downtrend) as far as I can tell? Thanks in advance guys.
Attached Image (click to enlarge)
Click to Enlarge Name: Failed Demand GBPUSD 13FEB13.png Size: 172 KB
only dead fish swim with the stream
  • #1,787
  • Feb 13, 2013 6:43am Feb 13, 2013 6:43am
Ruede, I didn't consider that zone because the ratio between the "base" and the "rally" seems too high. Too many ticks in the base, and too few ticks in the subsequent rally. This might indicate that the unbalance between demand and supply in that area was not so large.

This said, even the best demand/supply zones can fail. If they always worked we would all be drinking wine in our yachts.
  • #1,788
  • Feb 13, 2013 7:04am Feb 13, 2013 7:04am
Quoting pecas
Ruede, I didn't consider that zone because the ratio between the "base" and the "rally" seems too high. Too many ticks in the base, and too few ticks in the subsequent rally. This might indicate that the unbalance between demand and supply in that area was not so large.

This said, even the best demand/supply zones can fail. If they always worked we would all be drinking wine in our yachts.
Thanks Pecas. Looking across my chart history that does appear to be a factor - will take it on board for next time.

Looking at my daily chart I also just noticed my trade was at the edge of a newly formed supply zone... doh!!

And yes - getting stopped out was a good thing - ie. keeping me alive/on-track to eventually afford at least an inflatable zodiac / modest bottle of red

If anyone else has any comments etc please don't hold back. All greatly appreciated.
only dead fish swim with the stream
  • #1,789
  • Feb 13, 2013 7:17am Feb 13, 2013 7:17am
Well,Ruede, I'd also like to post a notice about your level. If you look at the Daily chart of GBP you'll see that price is moving down for already about 2 months. It's our nature to predict something, to be smarter than the market, to catch the tops and bottoms and so on. BUT! We don't need to predict where it will stop moving down! It's moving down? Ok, let's find a good SUPPLY and will be IN the train, NOT on its way. TraderinSD thaught me always to trade with the trend and if you'll look through his posts here in the thread you'll see his comments that you should not expect much from counter trend trades and the position size should also be lower. So, for me the main reason for a loss was a counter trend trade.
BTW, that was my GBP trade.
http://gyazo.com/7627af7257271a7964a1b7e2ab0c350e.png
Though it's not good enough because the bad entry caused quite poor RR ratio.
  • #1,790
  • Feb 13, 2013 7:30am Feb 13, 2013 7:30am
Quoting romant
Well,Ruede, I'd also like to post a notice about your level. If you look at the Daily chart of GBP you'll see that price is moving down for already about 2 months. It's our nature to predict something, to be smarter than the market, to catch the tops and bottoms and so on. SO! We don't need to predict where it will stop moving down! It's moving down? Ok, let's find a good SUPPLY and will be IN the train, NOT on its way. TraderinSD thaught me always to trade with the trend and if you'll look through his posts here in the thread you'll...
Thanks Romant - a lesson learned. For my first trade using this method I caught the entire recent down move (ie. starting from the high last Friday to yesterdays low) and figured I could pick up the reversal too - a low percentage novice play and I should have known better!! Will have a look through TraderinSD's posts too.

Would you mind explaining what if anything you could have done to choose a better entry/RR ratio with your trade here?

Thanks again.
only dead fish swim with the stream
  • #1,791
  • Feb 13, 2013 8:42am Feb 13, 2013 8:42am
Quoting romant
Well,Ruede, I'd also like to post a notice about your level. If you look at the Daily chart of GBP you'll see that price is moving down for already about 2 months. It's our nature to predict something, to be smarter than the market, to catch the tops and bottoms and so on. BUT! We don't need to predict where it will stop moving down! It's moving down? Ok, let's find a good SUPPLY and will be IN the train, NOT on its way. TraderinSD thaught me always to trade with the trend and if you'll look through his posts here in the thread you'll...
Agreed. A good discussion about the odds enhancers here. As a rule of thumb I always wait for a strong reaction on the lower time frame demand within higher time frame demand before looking to enter opposite to the established trend. There will always be a pull back to the level or nearby to get in if you get a decent enough thrust out of the level. It pays to wait.
  • #1,792
  • Edited 9:58am Feb 13, 2013 9:00am | Edited 9:58am
Quoting Porkpie
Agreed. A good discussion about the odds enhancers here. As a rule of thumb I always wait for a strong reaction on the lower time frame demand within higher time frame demand before looking to enter opposite to the established trend. There will always be a pull back to the level or nearby to get in if you get a decent enough thrust out of the level. It pays to wait.
Thanks for the tip Porkpie. That's a good way to help ensure we consistently trade with the trend.
only dead fish swim with the stream
  • #1,793
  • Feb 13, 2013 10:10am Feb 13, 2013 10:10am
Attached Image (click to enlarge)
Click to Enlarge Name: 6E 03-13 (120 Min) 2_13_2013.jpg Size: 101 KB
  • #1,794
  • Feb 13, 2013 10:20am Feb 13, 2013 10:20am
Quoting Ruede
Thanks for the tip Porkpie. That's a good way to help ensure we consistently trade with the trend.
Ruede, The crew gave very good responses to your question. One of the main reasons why I would not have taken that Demand Zone
is because you did not have the proper VSA setup. There is a lot of info on my thread about taking trades with the proper VSA setup that
might help you in understanding when to take or not take a trade at a zone, Rocky...
  • #1,795
  • Feb 13, 2013 10:56am Feb 13, 2013 10:56am
Quoting rocky
Ruede, The crew gave very good responses to your question. One of the main reasons why I would not have taken that Demand Zone is because you did not have the proper VSA setup. There is a lot of info on my thread about taking trades with the proper VSA setup that might help you in understanding when to take or not take a trade at a zone, Rocky...
Thanks for the tip Rocky - looking at a few right now. Cheers - Ruede
only dead fish swim with the stream
  • #1,796
  • Feb 13, 2013 4:02pm Feb 13, 2013 4:02pm
Quoting rocky
Attachment

Attached Image (click to enlarge)
Click to Enlarge Name: 6E 03-13 (10 Min) 2_13_2013.jpg Size: 113 KB
  • #1,797
  • Feb 13, 2013 8:21pm Feb 13, 2013 8:21pm
Attached Image (click to enlarge)
Click to Enlarge Name: 6E 03-13 (10 Min) 2_13_2013.jpg Size: 104 KB
  • #1,798
  • Edited 5:45am Feb 14, 2013 4:18am | Edited 5:45am
Quoting rocky
Ruede, The crew gave very good responses to your question. One of the main reasons why I would not have taken that Demand Zone is because you did not have the proper VSA setup. There is a lot of info on my thread about taking trades with the proper VSA setup that might help you in understanding when to take or not take a trade at a zone, Rocky...
Hi Rocky (and anyone else familiar with VSA setup),

I've devoured a small mountain of stuff on VSA since yesterday. Extremely interesting stuff. Could you please look at my notes on the attached chart and comment on the hypothesis I'm forming about why the 'pseudo-demand' area failed.

Am I about the mark in concluding that the failure of the price to rally up (ie. asymmetrically) from the forming 'pseudo demand area' due to the high volume stopping candles (marked 1(b) on the chart) was the big clue that it was weak/pseudo drop-base-rally demand zone? ie. big institutions were not ready to let price rally up as they wanted price to fall to or below that area so they could load up on more longs?

As such, shenanigans such as that marked at 1(c) are also more likely to occur.

Cheers

Ruede
Attached Image (click to enlarge)
Click to Enlarge Name: Failed Demand GBPUSD 13FEB13 VSA factors.png Size: 90 KB
only dead fish swim with the stream
  • #1,799
  • Feb 14, 2013 4:44am Feb 14, 2013 4:44am
Quoting Nritv
Hi Rocky

One last question. You drew fib resistance using 1,2 points but there is also high to the left of 1. Can you please care to explain why you choose 1 as the high and not the high before.

This is where I have a little bit of struggle (subjectivity) with Fibs. Your answer might clear most of my doubts.

Thanks and you have a great weekend!

Edit:Ohhh! Is it because it's a Supply Zone point?
Hello Nritv and Rocky,

Could you please enlighten me why Rocky did not drew the fib from the high to the left of 1 ?

Referring to http://www.forexfactory.com/attachment.php?attachmentid=1057662
  • #1,800
  • Feb 14, 2013 5:09am Feb 14, 2013 5:09am
Ruede, Rocky did not sell there, he bought.
2 traders viewing now