New trade: GBPUSD long
UPDATE: Stopped out at BE -1. NEXT.
UPDATE: Stopped out at BE -1. NEXT.
Knowing is not enough; we must apply. Willing is not enough; we must do.
Start of my journey towards profitable trading with PA
- #701
- Edited Aug 6, 2013 12:38am Aug 5, 2013 11:16pm | Edited Aug 6, 2013 12:38am
- Joined Nov 2012 | Status: Be consistent, Be persistent. | 1,847 Posts
- #702
- Aug 6, 2013 1:44am Aug 6, 2013 1:44am
- Joined Nov 2012 | Status: Be consistent, Be persistent. | 1,847 Posts
New PO: USDJPY short
Knowing is not enough; we must apply. Willing is not enough; we must do.
- #703
- Edited 4:13am Aug 6, 2013 2:53am | Edited 4:13am
- Joined Nov 2012 | Status: Be consistent, Be persistent. | 1,847 Posts
New PO: USDJPY short {image}
UPDATE: Price went too far, and towards my first TP, which is an obvious Demand. Since I have no screentime from now as I'm goin to the gym, will take off the PO. There're always another trade just around the corner. NO need to chase.
Knowing is not enough; we must apply. Willing is not enough; we must do.
- #704
- Aug 6, 2013 4:09am Aug 6, 2013 4:09am
- Joined Nov 2012 | Status: Be consistent, Be persistent. | 1,847 Posts
There are so many price action or supply demand "triggers" or "locations". How do you look for them? Do you have a list of priority where you look for A, then B, then C? Because I can find these after-the-fact but in real time I wasn't too sure as the candles were developing bar by bar. What do you look for first? E.g. you look for engulf and then locate the source of engulf? Do you look for other setups before engulf?
I'll try and illustrate the best I can, but believe me, trading is really a feel for the market, as I'm a discretionary trader, not a mechanical one:
1. I look for zones that makes sense to me. I like to look for zones that are well defined, best if there're few low time frame candles with similar highs/lows before the breakout.
2. Then I look at the past, whether that level has any significant history/SR flips/swap zone,
3. Then I look at current PA, to see if a trade from the marked zones make sense.
4. Before I place a trade, I'll make sure to switch timeframes, or use another platform which displays multiple timeframes to make sure I don't trade against the HTF zones.
5. If 1/2/3/4 looks good, I'll look at possible trouble areas, to gauge the profit margin. If it's good (I normally do 1:2.5 RR AT LEAST), then I'm good to go.
hope it helps.
Knowing is not enough; we must apply. Willing is not enough; we must do.
- #705
- Edited 8:05am Aug 6, 2013 7:45am | Edited 8:05am
- Joined Nov 2012 | Status: Be consistent, Be persistent. | 1,847 Posts
New PO: AUDUSD short
UPDATE: No follow through. removed PO.
UPDATE: No follow through. removed PO.
Knowing is not enough; we must apply. Willing is not enough; we must do.
- #706
- Edited 9:20am Aug 6, 2013 8:52am | Edited 9:20am
- Joined Nov 2012 | Status: Be consistent, Be persistent. | 1,847 Posts
Open trade: USDJPY short
UPDATE: Both TP hit. that was quick.
UPDATE: Both TP hit. that was quick.
Knowing is not enough; we must apply. Willing is not enough; we must do.
- #707
- Aug 6, 2013 9:31am Aug 6, 2013 9:31am
- Joined Nov 2012 | Status: Be consistent, Be persistent. | 1,847 Posts
I don't understand how "ignored demand" can become odds to short. Is there a quick way to explain that? I'm thinking ignored demand is still buyers, so how can that add to sell?
Price was $1000, EVERYBODY wants to buy it, coz they think it's DIRT cheap. now price rose to $2000, so ppl would wait for discount, and buy at $1000. But when it dropped until $1000, there were MORE sellers than buyers (who waited to buy there). So there're trapped buyers, who wish to get out at BE, that's when we would take their orders, and short it when price comes back.
That's just one way of explaining it, which I think is quite simple. Hope it helps.
Knowing is not enough; we must apply. Willing is not enough; we must do.
- #708
- Aug 6, 2013 10:56am Aug 6, 2013 10:56am
- Joined Nov 2012 | Status: Be consistent, Be persistent. | 1,847 Posts
{quote} Thanks! Where can I learn this? And also about engulf (and source of engulf)? Is it at J16 or RTM or somewhere else?
If you're interested of trading S&D, you MUST visit RTM & AceGazette. Both are similar, but both focused on SD trading. very nice.
Good luck!
Knowing is not enough; we must apply. Willing is not enough; we must do.
- #709
- Edited 5:51pm Aug 6, 2013 11:05am | Edited 5:51pm
- Joined Nov 2012 | Status: Be consistent, Be persistent. | 1,847 Posts
Loss trade: EURUSD long
m30
m5
UPDATE: Bad SL placement? Or bad luck?
m30
m5
UPDATE: Bad SL placement? Or bad luck?
Knowing is not enough; we must apply. Willing is not enough; we must do.
- #710
- Edited 6:43pm Aug 6, 2013 6:25pm | Edited 6:43pm
- Joined Nov 2012 | Status: Be consistent, Be persistent. | 1,847 Posts
A good setup I missed. USDJPY short
Knowing is not enough; we must apply. Willing is not enough; we must do.
- #712
- Aug 6, 2013 9:04pm Aug 6, 2013 9:04pm
- Joined Nov 2012 | Status: Be consistent, Be persistent. | 1,847 Posts
{quote} Nice job!
Knowing is not enough; we must apply. Willing is not enough; we must do.
- #713
- Edited Aug 7, 2013 2:59am Aug 6, 2013 10:11pm | Edited Aug 7, 2013 2:59am
- Joined Nov 2012 | Status: Be consistent, Be persistent. | 1,847 Posts
New PO: USDJPY short
UPDATE: Free fall for UJ, no chance to join the party.
UPDATE: Free fall for UJ, no chance to join the party.
Knowing is not enough; we must apply. Willing is not enough; we must do.
- #715
- Aug 7, 2013 3:38am Aug 7, 2013 3:38am
- Joined Nov 2012 | Status: Be consistent, Be persistent. | 1,847 Posts
Interesting system I like it. What brokers are you recommending to use
I'm personally using Armada Markets. So far am OK with it, had some slippages here and there, but I'm quite satisfied with the service so far.
Knowing is not enough; we must apply. Willing is not enough; we must do.
- #716
- Aug 7, 2013 4:07am Aug 7, 2013 4:07am
- Joined Nov 2012 | Status: Be consistent, Be persistent. | 1,847 Posts
New trade: EURUSD long
Knowing is not enough; we must apply. Willing is not enough; we must do.
- #717
- Aug 7, 2013 5:30am Aug 7, 2013 5:30am
- Joined Nov 2012 | Status: Be consistent, Be persistent. | 1,847 Posts
New trade: EURUSD long {image} {image}
Knowing is not enough; we must apply. Willing is not enough; we must do.
- #718
- Aug 7, 2013 9:50am Aug 7, 2013 9:50am
- Joined Nov 2012 | Status: Be consistent, Be persistent. | 1,847 Posts
{quote} UPDATE: Entry was taken based on tradingview.com. realized I marked the perfect zone on my MT4. LOL no complaints though. First TP hit. {image}
Knowing is not enough; we must apply. Willing is not enough; we must do.
- #719
- Edited 10:23am Aug 7, 2013 10:11am | Edited 10:23am
- Joined Nov 2012 | Status: Be consistent, Be persistent. | 1,847 Posts
New trade: AUDUSD short
m5
H4
Don't forget the BRN 0.9000 confluence.
DX showed what I wanted to see, which was a double bottom at H4 FL.
m5
H4
m5
H4
Don't forget the BRN 0.9000 confluence.
DX showed what I wanted to see, which was a double bottom at H4 FL.
m5
H4
Knowing is not enough; we must apply. Willing is not enough; we must do.
- #720
- Aug 7, 2013 10:32am Aug 7, 2013 10:32am
- Joined Nov 2012 | Status: Be consistent, Be persistent. | 1,847 Posts
New trade: AUDUSD short m5 {image} H4 {image} Don't forget the BRN 0.9000 confluence. DX showed what I wanted to see, which was a double bottom at H4 FL. m5 {image} H4 {image}
Knowing is not enough; we must apply. Willing is not enough; we must do.