"A handful of patience is worth more than a bushel of brains"
Hi Iron Pawn,
I am an OTA student. I am with you that a lot of practice is required. it has been more than a year that I practice supply and demand and just recently could reach to some certain rules in trading and believe me still struggling sometimes. I can share some of my trading setup and we can discuss about them. It is always worth to share the ideas
I am an OTA student. I am with you that a lot of practice is required. it has been more than a year that I practice supply and demand and just recently could reach to some certain rules in trading and believe me still struggling sometimes. I can share some of my trading setup and we can discuss about them. It is always worth to share the ideas
Hi Iron Pawn, I am an OTA student. I am with you that a lot of practice is required. it has been more than a year that I practice supply and demand and just recently could reach to some certain rules in trading and believe me still struggling sometimes. I can share some of my trading setup and we can discuss about them. It is always worth to share the ideas
"A handful of patience is worth more than a bushel of brains"
Thanks for sharing your chart, well every level may or may not work but I personally watching these sorts of levels for a considerable time. As promised I have some simple rules which I use them to find my trading zone:
1) I always prefer fresh levels mean that no previous touch. The reason behind is there are more unfilled orders accumulated in fresh zones compare to the ones are not fresh however there are many levels worked beautifully and they are not fresh.
2) location on the curve: I always take supply zones high in the curve and demand zone low in the curve. This is the main reason I use Fibonacci levels to get some idea about the location of trading zone on the curve. More price gets deeper in the zone more buyers push the price back. Combination of Fibonacci levels and supply and demand could filter many trades with lower probability
3) strong move away from the zone
4) Trend: I prefer to trade with trend however there is nothing wrong with counter trend trading. I have my own definition of trend.
5) levels in lower time frames are valid until price moves within the curve and once it moved away, they are no longer valid to trade.
6) no conflict with higher time frame zones: simply I don't like to buy when price is in h4 or daily supply zone and not at all in love with sell when we are in H4 or daily demand zone.
These are the rules I follow in my trades. Looks simple but that's it
As you know supply and demand can be used at any time frame but at the moment I find trading zones only from M15, M30, H1
if you usually swing trade, I also share only swing set up to maintain the consistency. If you need any details I am happy to share.
i also commit that I only share the trade set up that I'm gonna take them.
1) I always prefer fresh levels mean that no previous touch. The reason behind is there are more unfilled orders accumulated in fresh zones compare to the ones are not fresh however there are many levels worked beautifully and they are not fresh.
2) location on the curve: I always take supply zones high in the curve and demand zone low in the curve. This is the main reason I use Fibonacci levels to get some idea about the location of trading zone on the curve. More price gets deeper in the zone more buyers push the price back. Combination of Fibonacci levels and supply and demand could filter many trades with lower probability
3) strong move away from the zone
4) Trend: I prefer to trade with trend however there is nothing wrong with counter trend trading. I have my own definition of trend.
5) levels in lower time frames are valid until price moves within the curve and once it moved away, they are no longer valid to trade.
6) no conflict with higher time frame zones: simply I don't like to buy when price is in h4 or daily supply zone and not at all in love with sell when we are in H4 or daily demand zone.
These are the rules I follow in my trades. Looks simple but that's it
As you know supply and demand can be used at any time frame but at the moment I find trading zones only from M15, M30, H1
if you usually swing trade, I also share only swing set up to maintain the consistency. If you need any details I am happy to share.
i also commit that I only share the trade set up that I'm gonna take them.
- #268
- Edited 4:38pm Feb 27, 2014 4:07pm | Edited 4:38pm
[quote=danial2537;7309526]Thanks for sharing your chart, well every level may or may not work but I personally watching these sorts of levels for a considerable time.
I agree with all of it you wrote. What I meant in my chart and didn't talk about was that if higher level is above then there was room to continue upward and maybe was ok to look for possible level to buy. That's all... I know, it's easy afterwards and as you put it may or may not work what is a nature of trading.
All the best.
I agree with all of it you wrote. What I meant in my chart and didn't talk about was that if higher level is above then there was room to continue upward and maybe was ok to look for possible level to buy. That's all...
I know, it's easy afterwards and as you put it may or may not work what is a nature of trading.All the best.
"A handful of patience is worth more than a bushel of brains"
- #270
- Feb 28, 2014 5:45am Feb 28, 2014 5:45am
- Joined Nov 2013 | Status: Trader | 1,391 Posts
SPC * Swollen PocketZ Crew!
Ha Ha, the speed bump.... I love it. I wonder where you got that crazy term from.... Dude be careful, I'm still new at this... Now IP on the other hand really is on to some good stuff... Good luck brotha... {quote}
Speed bump is a pattern.
Basically it is a formation of neutral candle follow by a strong move away. This indicates a high degree of imbalance between supply and demand. Speed bump is a strategy that many traders are familiar with and follow in trades including big institutions. If you back test the speed bump on your chart you will see that in many cases we have at least a retracement from speed bumps.
In supply and demand we try to find the zones which very likely price is going to turn back without any magic
Cheers,
- #272
- Feb 28, 2014 6:11am Feb 28, 2014 6:11am
- Joined Nov 2013 | Status: Trader | 1,391 Posts
I know exactly what it is... Good stuff... 
Good luck....
Good luck....{quote} Hello JoeNY, Speed bump is a pattern. Basically it is a formation of neutral candle follow by a strong move away. This indicates a high degree of imbalance between supply and demand. Speed bump is a strategy that many traders are familiar with and follow in trades including big institutions. If you back test the speed bump on your chart you will see that in many cases we have at least a retracement from speed bumps. In supply and demand we try to find the zones which very likely price is going to turn back without any magic
SPC * Swollen PocketZ Crew!
- #276
- Feb 28, 2014 8:03am Feb 28, 2014 8:03am
- Joined Nov 2013 | Status: Trader | 1,391 Posts
SPC * Swollen PocketZ Crew!
- #277
- Feb 28, 2014 8:06am Feb 28, 2014 8:06am
- Joined Nov 2013 | Status: Trader | 1,391 Posts
{quote} Joe, good to see you around my man...
SPC * Swollen PocketZ Crew!
- #280
- Feb 28, 2014 8:08am Feb 28, 2014 8:08am
- Joined Nov 2013 | Status: Trader | 1,391 Posts
Oh.... well what do you know... they just did.... it must be Magic...
SPC * Swollen PocketZ Crew!