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Alifari's Trading Journal

  • #481
  • Oct 24, 2014 6:50am Oct 24, 2014 6:50am
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The purpose of knowledge is action, not knowledge
  • #482
  • Oct 24, 2014 10:09am Oct 24, 2014 10:09am
GBPCAD M15 QM BUY LIMIT ORDER (See comments on chart)

Trade Result +2.80R
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Click to Enlarge Name: 11-GBPCADM15.png Size: 45 KB
The purpose of knowledge is action, not knowledge
  • #483
  • Oct 24, 2014 1:03pm Oct 24, 2014 1:03pm
Chart Example Nikkei225 M30 (Supply & Demand works in any market, if you know what to look for)
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The purpose of knowledge is action, not knowledge
  • #484
  • Oct 24, 2014 1:28pm Oct 24, 2014 1:28pm
Dear Ali, please see my chart for my question.

Have a nice weekend!

Quoting alifari
Chart Example Nikkei225 M30 (Supply & Demand works in any market, if you know what to look for) {image}
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  • #485
  • Oct 24, 2014 2:00pm Oct 24, 2014 2:00pm
Quoting charvo
Dear Ali, please see my chart for my question. Have a nice weekend! {quote} {image}
Although I am no expert in supply demand. But from what I have learnt I would say that we are good as long the bottom demand doesn't get consumed. So I would put my Stop loss below the demand area and wait for price to either reach the supply area above or the stop-loss.

The thing is this actually was what really prompted me to study price action as in supply demand. I have had nearly so many trades till date ending up in break even just because I used to put my stoploss to break even when price moved a bit in positive. This thing I got my cleared at the fail better thread. Wizard has really put it up very nicely in that thread.

I have been more successful using the stoploss above/below good supply demand area. Size of the stop loss actually makes me choose the lot size that I would want. But this has really turned out to be a good decision for me.

Cheers !!!
  • #486
  • Edited 3:35pm Oct 24, 2014 3:15pm | Edited 3:35pm
Quoting charvo
Dear Ali, please see my chart for my question. Have a nice weekend! {quote} {image}
I normally don't move my stop below/above a rejection bar specially, if the rejection happened at the top of the zone (as in this case), as often these levels are tested or price revisit inside the zone to pick remaining orders.

Although it is hindsight, but I would have tightened my stop loss after that green bullish bar (yellow highlighted) and move it below those candles that created the demand base (blue highlighted) and prompted the bullish breakout to the upside. By doing that I would have cut my exposure to half and as such the maximum I could lose on this trade would be 0.5R instead of 1.0R. If you notice in my statistics I posted few days back some of my trades were closed on -0.50R loss based on similar price action.

There was a time I used to place a trade and either I would get +2R or -1.0R but I realized that as a trader we need to analyze price action and levels not only before placing a trade but also once trade is triggered and manage the trade in logical manner. In this trade scenario my research and logic says that if price breach my amended stop loss level very likely it will go on and hit the bottom of the zone on 7 out of 10 trades, so the probability of price hitting the lower zone was higher and taking my initial stop loss giving a loss of 1.0R instead of 0.50R.

Also check this post (Post # 452) where price made a deep test of zone and the bearish move was with momentum, so the logical choice was to move stop loss below the rejection bar because if price comes back inside the zone very likely it will test lower edge of the zone and hit our SL. http://www.forexfactory.com/showthre...27#post7804427
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The purpose of knowledge is action, not knowledge
  • #487
  • Oct 24, 2014 7:00pm Oct 24, 2014 7:00pm
thanks, very logical. i've also found that after the entry, if price moved far and then revisit the entry level, the situation often changed, which often means SL need to be adjusted accordingly. it does helps improving a trader's equity growth.

Quoting alifari
{quote}There was a time I used to place a trade and either I would get +2R or -1.0R but I realized that as a trader we need to analyze price action and levels not only before placing a trade but also once trade is triggered and manage the trade in logical manner. In this trade scenario my research and logic says that if price breach my amended stop loss level very likely it will go on and hit the bottom of the zone on 7 out of 10 trades, so the probability of price hitting the lower zone was higher and taking my initial stop loss giving a loss of...
  • #488
  • Oct 25, 2014 2:12am Oct 25, 2014 2:12am
Quoting charvo
thanks, very logical. i've also found that after the entry, if price moved far and then revisit the entry level, the situation often changed, which often means SL need to be adjusted accordingly. it does helps improving a trader's equity growth. {quote}
Yes, for me it's all about long term equity growth rather than a single trade, so the outcome of a single trade should not matter, but at the same time one should be vigilant in managing each trade in logical manner. Often traders turn to breakeven instantly once they are little bit in profit without understanding market dynamics which is in constant search of liquidity.
The purpose of knowledge is action, not knowledge
  • #489
  • Oct 27, 2014 5:15am Oct 27, 2014 5:15am
Chart example - gbpaud m15 qm buy limit (order missed by few pips and hit my projected take profit, as such order cancelled)
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The purpose of knowledge is action, not knowledge
  • #490
  • Oct 27, 2014 5:30am Oct 27, 2014 5:30am
NZDUSD M15 QM LEVEL (Trade Reason on Chart)

Trade Result: +3.10R
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The purpose of knowledge is action, not knowledge
  • #491
  • Oct 27, 2014 6:31am Oct 27, 2014 6:31am
Quoting alifari
Chart example - gbpaud m15 qm buy limit (order missed by few pips and hit my projected take profit, as such order cancelled) {image}
hi alifari,

i took this QM setup...
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  • #492
  • Oct 27, 2014 6:39am Oct 27, 2014 6:39am
Quoting aamirgpi
{quote} hi alifari, i took this QM setup... {image}
Well done
The purpose of knowledge is action, not knowledge
  • #493
  • Oct 28, 2014 12:27pm Oct 28, 2014 12:27pm
USDCAD M15 DEMAND TURNED SUPPLY ZONE (Trade reason on chart)

Trade Result +2.90R
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The purpose of knowledge is action, not knowledge
  • #494
  • Oct 28, 2014 2:46pm Oct 28, 2014 2:46pm
looks like the moment you did this snapshot is a good short entry on SD swap

Quoting alifari
USDCAD M15 DEMAND TURNED SUPPLY ZONE (Trade reason on chart) Trade Result +2.90R {image}
  • #495
  • Oct 28, 2014 5:27pm Oct 28, 2014 5:27pm
Quoting charvo
looks like the moment you did this snapshot is a good short entry on SD swap {quote}
Yes, there was a valid short opportunity, but it happened at the end of London Session and Lunch time in New York and I often noticed market usually lack liquidity or momentum during these time. As such I usually avoid taking trades at these time, specially when I am already in profit for the day.
The purpose of knowledge is action, not knowledge
  • #496
  • Oct 30, 2014 8:42am Oct 30, 2014 8:42am
Gbpusd m15/m30 qm trade

trade result +2.30r
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The purpose of knowledge is action, not knowledge
  • #497
  • Oct 30, 2014 8:51am Oct 30, 2014 8:51am
Gbpnzd m30 / h1 qm trade

trade result +1.20r
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The purpose of knowledge is action, not knowledge
  • #498
  • Oct 30, 2014 8:56am Oct 30, 2014 8:56am
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The purpose of knowledge is action, not knowledge
  • #499
  • Oct 30, 2014 9:22am Oct 30, 2014 9:22am
nice catch, i'm always amazed by this kind of trade. Ali, do you use pending limit or market order for this one?

Quoting alifari
Gbpusd m15/m30 qm trade trade result +2.30r {image}
  • #500
  • Oct 30, 2014 9:38am Oct 30, 2014 9:38am
Quoting charvo
nice catch, i'm always amazed by this kind of trade. Ali, do you use pending limit or market order for this one? {quote}
Majority of my trades are pending limit orders, I only use market orders on VLTF trades, as those are quick in and out trades based on current price action.
The purpose of knowledge is action, not knowledge
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