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ReadtheMarket - Supply and Demand with Price Action

  • #201
  • Edited 8:08pm Oct 23, 2013 5:57pm | Edited 8:08pm
Quoting Ifmyante
{quote} Oh Winston, that was pretty obvious from the outset. He even used in his first post a set of diagrams copied straight from Mel's Supply and Demand article (fair dues to him, he changed the image once challenged). I have no ill will towards Thomaas at all. He has a good grasp of some of the concepts one needs to understand to be a good trader, and the more people helping to cut through all the BS we've been taught for so long, the better! So perhaps it's best we all put our members back in our trousers and get back to the charts
I just want to quickly clarify something: I did not learn anything from RTM, nor did I get inspired by this website by any means to do my thread on S&D levels. But I guess I have no way to prove it...
Anyway, RTM looks like a nice website. Good luck with it!
  • #202
  • Edited 10:57pm Oct 23, 2013 10:34pm | Edited 10:57pm
Quoting thomaas
{quote} I just want to quickly clarify something: I did not learn anything from RTM, nor did I get inspired by this website by any means to do my thread on S&D levels. But I guess I have no way to prove it... Anyway, RTM looks like a nice website. Good luck with it!
As Ifmyante pointed out, it was pretty obvious (to many of us at RTM) from the very first few posts that you build your thread from RTM lessons and especially Mel's article, and it's not just about that one picture which you removed after keroro0o0o (http://www.forexfactory.com/showthread.php?p=7037299#post7037299) and Mel (http://www.forexfactory.com/showthread.php?p=7038978#post7038978) pointed it out. Well since you claimed you did not learn anything nor were inspired by RTM, then I guess we have no way to prove it.
  • #203
  • Oct 24, 2013 6:23am Oct 24, 2013 6:23am
Quoting Ifmyante
Hi MayinFx I checked for any sign of you in the system, but there's not a trace. Do me a favour and try to register using a different browser. Should this fail, let me know and I'll get out tech wonders to help you out
Hello Ifmyante,

Thanks for replying. Somehow it sorted itself out. When I checked my email it was there. I am now registered and able to log in . I am going through the education and the videos and it will take sometime to get my head round it and to think and look at the market in a different perspective.

Cheers,
Mayin.
  • #204
  • Oct 24, 2013 9:56am Oct 24, 2013 9:56am
Quoting anyone
{quote} As Ifmyante pointed out, it was pretty obvious (to many of us at RTM) from the very first few posts that you build your thread from RTM lessons and especially Mel's article, and it's not just about that one picture which you removed after keroro0o0o (http://www.forexfactory.com/showthread.php?p=7037299#post7037299) and Mel (http://www.forexfactory.com/showthread.php?p=7038978#post7038978) pointed it out. Well since you claimed you did not learn anything nor were inspired by RTM, then I guess we have no way to prove it.

RTM, Ace Gazette, Sam Seiden, PIE, and many others trade and teach supply and demand. Other than the pics (and yes this was in poor taste) it's difficult to see what unique (copyrighted, trademarked, patented) information was used. I don't know this for sure but I suspect Sam Seiden was one of the first proponents of supply and demand trading. Even before PIE with Redsword.

There is supply and demand and support and resistance. Likely many more threads are based on support and resistance concepts (although the differences are subtle IMHO) but we don't accuse those threads of being copycats or whatever you want to call it. As stated above "Well since you claimed you did not learn anything nor were inspired by RTM, then I guess we have no way to prove it". There's no harm in being "inspired" by another thread, is there? What's the big deal?

By the way Alfonso Moreno (Panoramia) has a thread on supply and demand. He has a journal at RTM. Why isn't anyone bashing him? I'm sure he derived some inspiration from RTM didn't he.
  • #205
  • Edited 12:18pm Oct 24, 2013 10:22am | Edited 12:18pm
Sorry I kept deleting my replies. We confronted him, and he responded. Story ends.
Quoting Ifmyante
Oh Winston, that was pretty obvious from the outset. He even used in his first post a set of diagrams copied straight from Mel's Supply and Demand article
Quoting anyone
Hi Thomaas, You should clarify whether you took the images and rewrote articles from RTM (http://readthemarket.com/index.php/component/content/article/166-education1/markepedia/209-supply-and-demand-zones-levels-by-mel) and especially from Mel. Did you base your thread on their writings?
Quoting @mel
Hi Thomaas. I see that you used some images from an article I wrote for Read the Market.
Quoting keroro0o0o
Hi Thomaas, Good work sharing the method. However, I feel you should give credits where its due for the source of the materials you obtained from here (http://readthemarket.com/index.php/component/content/article/166-education1/markepedia/209-supply-and-demand-zones-levels-by-mel).
  • #206
  • Oct 24, 2013 10:43am Oct 24, 2013 10:43am
Quoting anyone
Sorry I kept deleting my replies. No point repeating what was already said that you are not listening.

No problem and I am listening. Strictly speaking it was certainly unethical to use someone else's images. But honestly do you really think harm was the intention? The thread is non-commercial and strives to make nothing. I am reading the thread in question and all I can see is an honest attempt to help other traders with supply and demand concepts here on FF. RTM, Ace Gazette and other's don't post or rarely post anything on FF. There is nothing terribly special, just basic stuff as I see it. But some won't let it go and even advise others to avoid the thread. This is essentially defamation.
  • #207
  • Oct 24, 2013 10:44am Oct 24, 2013 10:44am
Quoting anyone
Sorry I kept deleting my replies. We spoke out about it. He heard us and responded. Story ends. {quote}

  • #208
  • Oct 27, 2013 2:32am Oct 27, 2013 2:32am
Here's a quiz from RTM and RTM Academy which has proven to be quite fun to solve

Simply describe what the ITs were up to throughout this set of PA

Attached Image (click to enlarge)
Click to Enlarge Name: h8a5beda.jpg Size: 93 KB


I'm away on holiday now, but hope to drop in and see if there are any replies
  • #209
  • Oct 29, 2013 7:00am Oct 29, 2013 7:00am
Quoting Ifmyante
I'm sure you won't be surprised when I tell you that my read of the monthly is exactly the same as M1 There is absolutely no difference at all
Hi Ifmyante,
I am very surprised to read that yr "READ" of MOMTH IS THE SAME AS M1, always thought that LTF's are more like scalping/more noise, etc n shd hv different skills/applications when trading them. Of course I think this way due to my poor grasp of trading skills.
Will be anticipating learning frm u here n on RTM, tks.
  • #210
  • Oct 29, 2013 9:51am Oct 29, 2013 9:51am
hi ifymyante,

My username is vijay. Your website readthemarket.com shows my ip address as spammer even i was not posted single message. Why this is happened? This "project honeyspot"even not posting any message it treats as spammer
  • #211
  • Oct 29, 2013 10:44pm Oct 29, 2013 10:44pm
Quoting Ifmyante
I love a deep retrace! But I've marked what I think is important on the chart for now{image}

Sorry, Ifmyante, but the fllwg short forms couldnt be found on yr ABBREVIATIONS pg, kindly do adv meaning:
QM/RS, TKS.
Also I regd for membership on yr RTM y'day but when I tried login early this morn, when I filled up mu user name of eralinks n p'wd, I got some msg that I was not registered. When I tried registering again, the parts for my user name, eralinks, n my email address of [email protected], there was a message of INVALID. Kindly adv what I shd do, tks.
  • #212
  • Oct 30, 2013 5:42pm Oct 30, 2013 5:42pm
Quoting eralinks
{quote} Hi Ifmyante, I am very surprised to read that yr \"READ\" of MOMTH IS THE SAME AS M1, always thought that LTF's are more like scalping/more noise, etc n shd hv different skills/applications when trading them. Of course I think this way due to my poor grasp of trading skills. Will be anticipating learning frm u here n on RTM, tks.

Hi Eralinks,

Every chart tells a story whether it's a Monthly or a M1 chart, I think that what IF meant is that you got to interpret the "story" in the same manner for whatever timeframe you are watching. In other words, if you were to take away the periodicity off the charts and have no clue about what TF it was , you still would be able to read the story of price...
Scalping, Swing Trading, long term trading, that all doesen't matter, if you can the story of price , you can be whatever type of tarder you want.

Hope this helps,
Good Night,
Mel
  • #213
  • Oct 30, 2013 5:44pm Oct 30, 2013 5:44pm
Quoting eralinks
{quote} Sorry, Ifmyante, but the fllwg short forms couldnt be found on yr ABBREVIATIONS pg, kindly do adv meaning: QM/RS, TKS. Also I regd for membership on yr RTM y'day but when I tried login early this morn, when I filled up mu user name of eralinks n p'wd, I got some msg that I was not registered. When I tried registering again, the parts for my user name, eralinks, n my email address of [email protected], there was a message of INVALID. Kindly adv what I shd do, tks.


You should be all set. Account is active now.
  • #214
  • Oct 31, 2013 6:30am Oct 31, 2013 6:30am
Quoting @mel
{quote} Hi Eralinks, Every chart tells a story whether it's a Monthly or a M1 chart, I think that what IF meant is that you got to interpret the \"story\" in the same manner for whatever timeframe you are watching. In other words, if you were to take away the periodicity off the charts and have no clue about what TF it was , you still would be able to read the story of price... Scalping, Swing Trading, long term trading, that all doesen't matter, if you can the story of price , you can be whatever type of tarder you want. Hope this helps, Good Night,...
Hi Mel,
Tks 4 yr answer. Probably I shd learn how to read the story first b4 can comprehend yr answer, definitely for those of us that does rely on indicators, the LTF's are a very different scenario to HTF's.
Tks again.
  • #215
  • Oct 31, 2013 6:32am Oct 31, 2013 6:32am
Quoting mertch
{quote} You should be all set. Account is active now.

Tks, Mertch, will check on it asap.
  • #216
  • Oct 31, 2013 6:41am Oct 31, 2013 6:41am
Quoting mertch
{quote} You should be all set. Account is active now.

Hi Mertch,
Just visited RTM, CLICKED THE LOGIN, there was box with my user name of "[email protected]" n password filled in, but when I clicked the login, again this msg appeared "Username and password do not match or you do not have an account yet."
Pls adv, tks.
  • #217
  • Oct 31, 2013 7:12am Oct 31, 2013 7:12am
Quoting eralinks
{quote} Hi Mertch, Just visited RTM, CLICKED THE LOGIN, there was box with my user name of \"[email protected]\" n password filled in, but when I clicked the login, again this msg appeared \"Username and password do not match or you do not have an account yet.\" Pls adv, tks.

Your username is eralinks
  • #218
  • Nov 1, 2013 3:50am Nov 1, 2013 3:50am
Quoting mertch
{quote} Your username is eralinks

Tks, got into account now.
  • #219
  • Dec 15, 2013 5:43pm Dec 15, 2013 5:43pm
Hi All,

Great thread. I hope to just add 2 cents to what DAPPA was asking a few pages ago. I have not included quotes etc because there were a few questions and a few responses. I think most were trying to answer his queries. However, I do note some comments that if he cant understand it, he/she should move onto another method. I think he is asking the right questions!

You need to understand the exact whys to how your method has an edge, because when you need to make alterations in the future due to shifts in dynmics or instituitional modus operandi when it comes to their manual order placing or black box trades. By simply saying a imbalance, of course that is true but how does it actually happen? For instance A Limit order is passive and not aggressive (it does not move price) So unfilled orders perse (a bid below or offer above) only offer liquidity to corrosponding market orders. So If market orders eating limit orders (each side, because remember its a dual market auction) are the only way price can move, I think many should actually hink how would price move away from a supply zone. Sure If there is a large order from a institution which they will only take at a certain price (to avoid ridicilous slippage on their position) it would typically be a limit order. Therefore the sell limit orders would only act as a wall to stop opposing buy market orders. The buy market orders would just be eaten up by the large limit orders of the institutions.

The large move away at the supply zone would in fact have to be market orders comming into the market at the same time selling? and one would think these sell orders would not be the same institutions who placed the limit orders to get the price they determine. Sure they may have unfilled orders upon return, but there are also questions as to whos market orders caused the price to move away in the first place.

I have come to think because the markets (FX) are so liquid at any one point (apart from news or between sessions) there is an abundance of limit orders on both sides (BID and ASK) and market orders being placed both sides because people want to get in as a buyer or seller (more aggressive) so market orders are eating limit orders and being drawn to the next pile of orders like a magnet. So when a institution throws down a large sell limit order, the opposing market buy orders keep hitting that price, while on the flip side the the Sell market orders are chewing through the buy limit orders. when the buy limit orders get eaten, price moves down.

The only other orders I could see being placed are marketable limit orders above or below current price. They get treated as limit orders and if they are hit they become market orders. HOWEVER A STANDARD LIMIT ORDER NEVER BECOMES A MARKET ORDER.

This brings me back to the original point of how does a strong move away from a S/D level actually be attributed to the large pending limit orders of a institution, when its market orders overwhelming limit orders that only move price.............

This is in no way trying to argue with anyone. I just think Dappa was on the money by asking these questions. The nuts and bolts of microstructure, have been explained well by many including being covered by user Darkstar on this site.

I invite someone to please explain, because I am interested in this method of trading as a hedge and from a microstructure point of view I am unable to see how these large pending orders act as nothing more than a wall for price as oppossed to repelling it in a aggressive way (without market orders).

THANKS AND ALL THE BEST TO ALL AND YOUR FAMILIES OVER CHRISTMAS............
Bye Bye FF
  • #220
  • Dec 15, 2013 7:05pm Dec 15, 2013 7:05pm
I really don't see the point of getting bogged down wondering whether the orders placed are limit or market. Price usually bounces, to the pip, exactly where it's meant to, and that's forecastable.
If the institutions do their jobs properly, they will have sufficiently bewildered the retailers on the lead-up to the bounce that on the inevitable fakeout to the turning price they will entice enough breakout traders to get totally on the wrong side of the market, and catch the stops of those on the right side of the market (making them, in effect, take the exact same trades as the erroneous BO traders)
They know where they will turn price, and will will be sure to have more orders there than those opposing. They want to have more orders there than those opposing, so they can get the turn they want. The trick is to get as many buy orders for their sells and short orders for their longs as possible, to give them maximum profit.

An example of the beautiful trickery was in EU the other day

Attached Image (click to enlarge)
Click to Enlarge Name: 16-12-2013 00-51-52.jpg Size: 370 KB


I truly feel it's better to focus on knowing WHERE, rather than WHAT the orders are
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