''Trading Price II'' by PhAnti - have fun | Page 28 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Have fun trading 69 replies

Trading and charts can be fun 233 replies

Trading ain't rocket science - Phanti's trades inside 14 replies

Phanti's 1-year flashback + guideline for newcomers 73 replies

fun with an excel/vba price sim 1 reply

Attachments: ''Trading Price II'' by PhAnti - have fun
Exit Attachments

''Trading Price II'' by PhAnti - have fun

  • #541
  • Apr 30, 2014 11:57am Apr 30, 2014 11:57am
Quoting _Anonymous_
{quote} But considering the recent bullrun which extends more than 2000 pips, isn't 100 pips profit 'too low' compared to the potential risk (in the event of GBP keeps raging). My chart tells that we're going to hit a major supply are around 1.7000, and we can see divergences forming on Daily. So my gut feeling is we may have a nice correction (might be in magnitude of few hundreds pips) but before seeing a good price action on the supply area I don't dare to short it yet. I got burnt badly on trying to pick a GBP top during this bull run so I'm...
ANON: 100 pips is the bare minimum for trades like this for me. For example, on the GBP/USD trade, I had a pending SELL (to open) at 1.6900, nice round # and also the 3yr WKLY HIGH. My gut told me that the pair would not climb too much further than that 3yr wkly high. I rarely looks at mthly charts. That pair has broken that mark & opened the trade for me @ 1.6901. Stop Loss is 50pips & my T1 is 100 pips for a 1:2 risk/reward ratio. If Price action hits my T1 target, i simply raise my stop to BE, take 1/2 my position OFF the table & let the balance of the trade run with a trailing stop for a 'risk-free' trade. The next key level of support is around 1.6600 area on the wkly chart. So potentially, i may can gain 300pips from this trade. Currently, the pair is at .6877 - so I'm already 20pips ahead. However, all of this can change on Fri when NFP #s come out. If the job #s are good - that would bode well for USD & my trade. If NFP #s aren't good - my GBP/USD may be the sacrificial lamb here. Hopefully, my 50 pip STOP LOSS can absorb that 'worst case scenerio'. We'll see how this unfolds. Peace.
Attached Image (click to enlarge)
Click to Enlarge Name: GBP-USD , 4-30.PNG Size: 61 KB
  • #542
  • Apr 30, 2014 12:19pm Apr 30, 2014 12:19pm
Quoting TraderDTP
{quote} ANON: 100 pips is the bare minimum for trades like this for me. For example, on the GBP/USD trade, I had a pending SELL (to open) at 1.6900, nice round # and also the 3yr WKLY HIGH. My gut told me that the pair would not climb too much further than that 3yr wkly high. I rarely looks at mthly charts. That pair has broken that mark & opened the trade for me @ 1.6901. Stop Loss is 50pips & my T1 is 100 pips for a 1:2 risk/reward ratio. If Price action hits my T1 target, i simply raise my stop to BE, take 1/2 my position OFF the table & let...
Sounds like a good trade plan, 50 pips stop loss to gain at least 100 pips which is a 1:2 R/R and potentially more. I think I understand your strategy, let's see how this pair unfolds

Thanks for explaining, green pips to you
  • #543
  • May 11, 2014 10:41pm May 11, 2014 10:41pm
Hi Jonas,

Thank you very much for your e-book! It helps me understand S/D more

Here is a chart that I tried practice marking the S/D zone. Can you comment on it?

Thank you

Ken

PS: looking forward to your next book!
Attached Image (click to enlarge)
Click to Enlarge Name: supply demand practice.png Size: 40 KB
  • #544
  • Jun 3, 2014 5:26pm Jun 3, 2014 5:26pm
thanks phanti for the great thread. i enjoyed reading every bit of it and i believe it will change my life for good.
  • #545
  • Jun 7, 2014 10:07am Jun 7, 2014 10:07am
Quoting ken.b
Hi Jonas, Thank you very much for your e-book! It helps me understand S/D more Here is a chart that I tried practice marking the S/D zone. Can you comment on it? Thank you Ken PS: looking forward to your next book! {image}

looks fine.

Hero calls followed by margin calls...
  • #546
  • Jun 7, 2014 10:07am Jun 7, 2014 10:07am
Quoting sympathy
thanks phanti for the great thread. i enjoyed reading every bit of it and i believe it will change my life for good.
hm actually it should work? :-7
Hero calls followed by margin calls...
  • #547
  • Jun 9, 2014 1:33am Jun 9, 2014 1:33am
Quoting PhAnTi'
{quote} looks fine.
Thanks Jonas!!
  • #548
  • Jun 19, 2014 5:48am Jun 19, 2014 5:48am
Hi PhAnTi and all the others, hello from Dortmund!
Came to this thread following a link from Dee50 (excellent thread, worth a look). Read through the pdfs and up to here. Fine work, Jonas, very, very fine work!
I intend to adapt a mixture from Michael Voigt`s "Markttechnik" (can`t find a translation in dictionnary), Dee50 approach to markets and your trading style.
But first I have to get out of a trade running since march. I`d like to know if I drew the S/D-zones correctly in some degree. Idea is to close my 2 positions without loss.
I suppose the trend is still up. What do you think?
Another question if allowed: There were dozens of fellows writing they would show their screens once having started using S/D-areas. Where are you all? On your never ending way to find the holy grail without losses? I don`t want to exclude myself, were hunting year by year after an strategy that fits to me. It seems, I`m nearly at the target.
So please, bring more activity into this excellent thread. Learning by doing!
Thanks in advance and have a nice day.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpnzd.w.png Size: 40 KB
Have a nice day
  • #549
  • Edited Aug 1, 2014 9:28am Jul 31, 2014 3:33pm | Edited Aug 1, 2014 9:28am
Hello PhAnti

I am reading your ebook and I would like to ask you a couple of questions:

1) Page 26. Price retraced at around 0.7465. However the lowest low was 0.74 (Nov 2011). Why would I enter long at 0.7465 and not wait
for price to go to 0.74?

2) If I understand correctly, S/D level are formed by a stack of orders (Limit Orders). On a Demand level they are all buy orders. I can understand that these are able to stop price from falling (unless there is great supply to fill them all). But I do not inderstand how these set orders are able to drive the price up rapidly in a couple of cadles. Can you please explain this concept?

If anybody knows of these S/D concepts, I would also welcome his feedback.
  • #550
  • Aug 1, 2014 8:08pm Aug 1, 2014 8:08pm
Hello bgeorge,

I will try and answer point 2, for you:




There are a stack of large orders waiting at a demand zone. Price is coming down to this demand zone, therefore most traders are currently short.

Price eventually hits this demand zone and the traders who are currently short, start to see price heading north back up the chart. Momentum is turning, and the longs are beginning to overpower the shorts. Candles on the chart are turning from red to green.

The shorts (sell orders) see what is happening and now start to bail out. To do this and get rid of their position, they hit the buy order button.

The cascade of all these shorts, who are now effectively turned longs, adds to the power surge of orders that were already waiting to go long at the demand zone.

All this buy power heading north up your charts, creates the large green candles (strong upward momentum), as the longs surge upwards unopposed until they themselves hit the next price buffer, which will be a supply zone (orders waiting to go short). And so, the exact same scenario will play out again, except this time in reverse.


Regards, MP.
"Never interrupt your enemy when he is making a mistake" Napoleon Bonaparte
  • #551
  • Edited 2:21am Aug 2, 2014 2:08am | Edited 2:21am
Hello MushyPeas

Thank you for your answer.

I understand the short covering, it can cause a noticeable bounce up from a Demand level, once the shorts realize that there is no more profits for them, or even the possibility of a reversal. Now if this initial bounce reverses the general sentiment, then I could understand the series of big candles shooting up.

Let me change the question a little:

Price rises to a price level (ex 1.35), stays there for 2-3 candles and then shoots up. S/D theory says that a Stack of buy orders appeared there creating a Demand level. Now that we do not have any short covering, how is it explained that price shoots up?
  • #552
  • Aug 2, 2014 7:23am Aug 2, 2014 7:23am
greetings Phanti,

Your PDF was very helpful.. i got some insights from that. thanks again. and why dont I see any of your trades?
  • #553
  • Sep 5, 2014 8:12pm Sep 5, 2014 8:12pm
Hi, this could help me a lot, where i can find pII pdf? Thanks for this!
  • #554
  • Sep 5, 2014 8:52pm Sep 5, 2014 8:52pm
  •  FerruFx
  • Joined May 2007 | Status: MT4/MT5 EAs/Indicators/Alerts coder | 6,542 Posts | Online Now
Quoting andretsc
Hi, this could help me a lot, where i can find pII pdf? Thanks for this!
Post #1 ... page #1 ...
MT4/MT5 EAs/Indicators/Alerts coder
  • #555
  • Sep 6, 2014 4:15am Sep 6, 2014 4:15am
Quoting Pradarp
greetings Phanti, Your PDF was very helpful.. i got some insights from that. thanks again. and why dont I see any of your trades?

Hey,

because I dont trade at the moment. Working full-time for a bank and studying Economics kills my time limit... :-S
I'll be back whenever there's some time to trade the H4-daily.

Take care
Hero calls followed by margin calls...
  • #556
  • Sep 6, 2014 4:16am Sep 6, 2014 4:16am
Quoting FerruFx
{quote} Post #1 ... page #1 ...
Hero calls followed by margin calls...
  • #557
  • Sep 6, 2014 4:25am Sep 6, 2014 4:25am
Quoting Pradarp
greetings Phanti, Your PDF was very helpful.. i got some insights from that. thanks again. and why dont I see any of your trades?

If you arent short EU you might be too late. For me I would sell 1.3000 or even 1.3100-3150, but I realyl doubt that we will se 1.3100 again this year.

Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD_D_060914.png Size: 60 KB


1.2750 is a level that will be reached this year. I really vouch for this.

Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD_D_060914_2.png Size: 59 KB


take care and stay patient.
Jonas
Hero calls followed by margin calls...
  • #558
  • Nov 16, 2014 10:47pm Nov 16, 2014 10:47pm
Hi there Phanti,

I wonder if you use piercing pattern/dark cloud cover as the candle signal.


Best
  • #559
  • Nov 17, 2014 7:22am Nov 17, 2014 7:22am
Quoting n00bita
Hi there Phanti, I wonder if you use piercing pattern/dark cloud cover as the candle signal. Best
no.
Hero calls followed by margin calls...
  • #560
  • Nov 17, 2014 7:23am Nov 17, 2014 7:23am
Quoting PhAnTi'
{quote} If you arent short EU you might be too late. For me I would sell 1.3000 or even 1.3100-3150, but I realyl doubt that we will se 1.3100 again this year. {image} 1.2750 is a level that will be reached this year. I really vouch for this. {image} take care and stay patient. Jonas


Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD_D_171114.png Size: 75 KB




Best,
J
Hero calls followed by margin calls...
0 traders viewing now