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ReadtheMarket - Supply and Demand with Price Action

  • #1,501
  • Nov 1, 2014 10:30am Nov 1, 2014 10:30am
Quoting Ifmyante
{quote} I was about to give out about using 1% per pip, but then I remembered that I've done that many times and got my rent paid in minutes! Just please don't anybody do it until you're fully in tune with the market. So, I agree with you (with reservations for students) on most points, although we don't use candles or their closes as PA. Rather we use zone engulfs
Do you think zone engulf is much more efficient then candle engulf? Would you be willing to share stats which reveals your pip-drawdown on those entries. I would really love to compare to see if maybe we can join forces and take over the forex market.
  • #1,502
  • Nov 1, 2014 11:50am Nov 1, 2014 11:50am
There's really no need to go looking for the statistics on this.
It's just obvious that there's no reason whatsoever to give significance to the fact that at 3:25, price is higher or lower than it was at 3:20. Time just isn't a factor.

I'd be quite surprised to find that I've taken two trades in the last month, so I'm nobody to join forces with!
We've made some super traders though, who are happy to work alongside other super traders
  • #1,503
  • Nov 2, 2014 3:59am Nov 2, 2014 3:59am
FXYogi, this is what I found why the price turn.

Attached Image (click to enlarge)
Click to Enlarge Name: NU turn.png Size: 57 KB


What do you think?
BH
  • #1,504
  • Nov 2, 2014 5:52am Nov 2, 2014 5:52am
Quoting blackhawkfx
FXYogi, this is what I found why the price turn. {image} What do you think? BH
And this is what I found. Struggling with this though. Looking back is 'easy'. How to find these spots beforehand, because a little higher there is also a zone where price could turn?
Attached Image (click to enlarge)
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Posting Demo charts, mirroring some of them live.
  • #1,505
  • Nov 2, 2014 8:27am Nov 2, 2014 8:27am
Quoting blackhawkfx
FXYogi, this is what I found why the price turn. {image} What do you think? BH
Attached Image (click to enlarge)
Click to Enlarge Name: river.JPG Size: 152 KB


am I right Fxyogi ?
estote parati
  • #1,506
  • Nov 3, 2014 12:33pm Nov 3, 2014 12:33pm
Hi IF,
Need your help,I am not able to access my account on RTM post migration.My ID is harshrthakkar.Reqyuest you to please help me on this please,tried to submit my concern on the support page too but the mails are bouncing there too.
  • #1,507
  • Nov 3, 2014 2:51pm Nov 3, 2014 2:51pm
I'm sure everybody who knows me is laughing their heads off that somebody's asking me for tech help!

The guys are working on this already, but I'll go in and take a look myself. Just stand back from your computer while I'm doing it. I may accidentally blow up the internet!
  • #1,508
  • Nov 3, 2014 7:34pm Nov 3, 2014 7:34pm
Today's trade.
a FL formed 1 year ago seems significant. This morning, the price returns into the FL for the 4th time. i entered pretty much at the last local supply (you can only see it in LTF).

the charts shows the general logic.
Attached Image(s) (click to enlarge)
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  • #1,509
  • Nov 5, 2014 7:56am Nov 5, 2014 7:56am
Quoting Ifmyante
There's really no need to go looking for the statistics on this. It's just obvious that there's no reason whatsoever to give significance to the fact that at 3:25, price is higher or lower than it was at 3:20. Time just isn't a factor. I'd be quite surprised to find that I've taken two trades in the last month, so I'm nobody to join forces with! We've made some super traders though, who are happy to work alongside other super traders

Sure TIME is a factor... If it wasnīt a factor then you wouldnīt have a TF for the chart you use.
  • #1,510
  • Nov 5, 2014 12:54pm Nov 5, 2014 12:54pm
Hi IF,
Can you tell me if the problrm is rectified,share your email id,will mail you.Dont want to disturb this thread.
  • #1,511
  • Nov 5, 2014 11:27pm Nov 5, 2014 11:27pm
Quoting charvo
Today's trade. a FL formed 1 year ago seems significant. This morning, the price returns into the FL for the 4th time. i entered pretty much at the last local supply (you can only see it in LTF). the charts shows the general logic. {image} {image}
I was going to short it right there as per my armada feed. But , Lmax and forex.com shown me different story. So i left it .

Armada
Attached Image (click to enlarge)
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Lmax
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Forex.com

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  • #1,512
  • Nov 6, 2014 1:14am Nov 6, 2014 1:14am
Quoting blackhawkfx
FXYogi, this is what I found why the price turn. {image} What do you think? BH
Blackhawkfx , Jaboloko,

Attached Image (click to enlarge)
Click to Enlarge Name: hh.png Size: 40 KB
  • #1,513
  • Nov 7, 2014 8:58am Nov 7, 2014 8:58am
this is a trade without a pinpointed historical DP.

per the history, i cannot zoom in enough, but i suspect there is supposed to be a DP made in July 2009. This DP seemingly does exist. The entry is an easy step. 2RR.
Attached Image(s) (click to enlarge)
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  • #1,514
  • Nov 7, 2014 10:43am Nov 7, 2014 10:43am
Quoting charvo
this is a trade without a pinpointed historical DP. per the history, i cannot zoom in enough, but i suspect there is supposed to be a DP made in July 2009. This DP seemingly does exist. The entry is an easy step. 2RR. {image} {image}
Nice one. Chart is right but the reason is.....

Decision points are not in my trading dictionary
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  • #1,515
  • Nov 7, 2014 11:01am Nov 7, 2014 11:01am
Attached Image (click to enlarge)
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Entry is based on signal below . exited early to cover the book.

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Entry is based on signal below . exited early to cover the book

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Scalp and see trade .


Attached Image (click to enlarge)
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Trade running half closed already but exit is not here .
  • #1,516
  • Nov 7, 2014 11:02am Nov 7, 2014 11:02am
i think i need to apply more scrutiny like yours, Yogi Bro!


Quoting Fxyogi
{quote} Nice one. Chart is right but the reason is..... Decision points are not in my trading dictionary {image}
Attached Image (click to enlarge)
Click to Enlarge Name: FxYogi 201411 FL drawing - 2 my notes.png Size: 39 KB
  • #1,517
  • Nov 7, 2014 11:07am Nov 7, 2014 11:07am
Quoting charvo
i think i need to apply more scrutiny like yours, Yogi Bro! {quote} {image}
Excellent.bit early entry is ok. Because Fxyogi does
  • #1,518
  • Nov 7, 2014 12:15pm Nov 7, 2014 12:15pm
Quoting Ifmyante
There's really no need to go looking for the statistics on this. It's just obvious that there's no reason whatsoever to give significance to the fact that at 3:25, price is higher or lower than it was at 3:20. Time just isn't a factor. I'd be quite surprised to find that I've taken two trades in the last month, so I'm nobody to join forces with! We've made some super traders though, who are happy to work alongside other super traders

I wonder why people still cant understand time is not a function. Can't help.
To learn something.

1. Ego must not exist
2. Respecting the teacher
3. An empty mind.
4. Constructive thinking
5.Logical thought process.



What is time?

interval between events or thoughts. when i press this buy button am entering 1s or 1m or 1day chart?. An event is not in time but duration is.
You can view an object with a microscope and get larger smaller picture by zooming in or out. But object remain the same.Similarly, trade is not in time but chart is.

What is candle?

Candle is data pack. all your high and low within an hour will be packed and visible to you as a one hour candle. When i say candle engulfed, what is that im saying?. high or low that current candle makes breaks the high or low of previous. Good. But lets say this break happened in last 5 min of the candle. Then what will happen for a trader with a feed packed with 5 min lacking?. He will see his candle formation not engulfed and a new bar opens .
If Einstein is here he would have told you candle formation is relative. Relativity theorem can be more adoptable here.With some spatial intelligence you can blend and see many formations.

understand the logic behind your chart. Because you will trade what you see. Take these into your head and come out from the illusion. Allow IF to get into your thought and mind. Rest will happen.
  • #1,519
  • Nov 8, 2014 7:50pm Nov 8, 2014 7:50pm
Great Thread !Thank you IF for shearing your knowledge with us !
  • #1,520
  • Nov 8, 2014 8:55pm Nov 8, 2014 8:55pm
Quoting Fxyogi
{quote} I wonder why people still cant understand time is not a function. Can't help. To learn something. 1. Ego must not exist 2. Respecting the teacher 3. An empty mind. 4. Constructive thinking 5.Logical thought process. What is time? interval between events or thoughts. when i press this buy button am entering 1s or 1m or 1day chart?. An event is not in time but duration is. You can view an object with a microscope and get larger smaller picture by zooming in or out. But object remain the same.Similarly, trade is not in time but chart is. What...

Thank you for taking the time in responding to a question which wasnīt directed to you. What I seem to have a hard time understanding is up-holding the statement that TIME isnīt important. You did point out that the chart we use shows a duration, and that right there is very true, but what you fail to understand is the duration isnīt complete until the candle closes. In other words, if I am trading using the 1hr chart, and I open or close a trade before that candle closes, then I am not using the 1hr CHART as it should be used.
You yourself mentioned the difference between using 1hr and the 5m chart, but the reality is TIME is very much important in your buying or selling decision. If it wasnīt then you would be opening and closing trades off of what premise? It is one thing to trade support and resistance area, but saying that time isnīt a factor within it is by far one of the sillest things I have ever heard. As depending on the tf you are using the support and resistance level will very much be different.
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