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Trading is supply and demand

  • #41
  • Dec 13, 2014 8:31pm Dec 13, 2014 8:31pm
Quoting FXyao
{quote} I like the way to view overbought/oversold line in a chart instead of in an indicator window, therefore just find one similar to yours. I hope this will help whoever who wants same success in forex like you. Thx {file}
Excellent Yao, Thank you.. I was searching online on how to do this
YOUR MOTHERS ASS
  • #42
  • Dec 13, 2014 8:53pm Dec 13, 2014 8:53pm
Quoting santos23
{quote} Excellent Yao, Thank you.. I was searching online on how to do this
Santos, ur welcome. I like the achievement of investing101 and people can follow the same way and show their success story. I deeply believed that the success can be copied. Just follow the smart leader -- investing101.
  • #43
  • Dec 13, 2014 9:25pm Dec 13, 2014 9:25pm
Quoting FXyao
{quote} Santos, ur welcome. I like the achievement of investing101 and people can follow the same way and show their success story. I deeply believed that the success can be copied. Just follow the smart leader -- investing101.
FXYao, thanks! how do you enter your trade with this? I can see even if its OB already but the price still strongly going up.
  • #44
  • Dec 13, 2014 9:28pm Dec 13, 2014 9:28pm
Quoting mario777
{quote} FXYao, thanks! how do you enter your trade with this? I can see even if its OB already but the price still strongly going up.
Mario, you need to know if you are in a supply or demand area too.
YOUR MOTHERS ASS
  • #45
  • Dec 13, 2014 9:45pm Dec 13, 2014 9:45pm
This is an excellent way to trade, I make similar intraday trades lasting no more than a few hours for 50 or so pips and sometimes even more which depends on the market. Fact is investing101 has shared some key important points and if traders prefer such approach do [re]read investing101 previous posts to figure out what exactly [s]he was trying to convey...and don't be too indicator-centric.
  • #46
  • Dec 13, 2014 9:49pm Dec 13, 2014 9:49pm
Very nice strategy.. Thanks for sharing.. Could you elaborate on the money management.. I.e. what is the lot size u use for every 1000$.. What about the stoploss and profit booing methods.. either trailing stop or fixed TP..Thanks..
Quoting investing101
Yeah as an example, Your 15 minute chart, 240 min chart, and daily are open in your screen. "I prefer to have multiple time frames up to see things live" 1. So say the the 15 minute is oversold, and the 240min/daily are still going down and not in oversold territory 2. Wait for the 15 minute chart's oscillator to reach overbought territory "pullback" and you will notice if there is any demand for the currency based on how price moves along with the oscillator. You will notice that if larger timeframes are still going down, and...
  • #47
  • Dec 13, 2014 10:08pm Dec 13, 2014 10:08pm
Quoting santos23
{quote} Mario, you need to know if you are in a supply or demand area too.
Agreed, you have to read his method for many times to get an idea of macro view + micro action, I believed following entry points were by investing101 in September. Thx
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  • #48
  • Dec 13, 2014 10:21pm Dec 13, 2014 10:21pm
Quoting FXyao
{quote} Agreed, you have to read his method for many times to get an idea of macro view + micro action, I believed following entry points were by investing101 in September. Thx {image}
.....it will be good to see the corresponding exit points to appreciate his trades better.....can you follow up with that ?
  • #49
  • Dec 13, 2014 11:21pm Dec 13, 2014 11:21pm
Quoting skyway
{quote} .....it will be good to see the corresponding exit points to appreciate his trades better.....can you follow up with that ?
101;

Just an idea to determine the entry and exit points by the cross of fast+slow RSIs for your consideration, I hope someone know mql language can program it so that the robot can trade by itself, we only need to set our comfortable percentage 30/70%? of overbought/sold territory and direction of the trade. By the territory robot picks the entry and exit. Please post your test result if you apply this method so everyone can benefit it. thx
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  • #50
  • Dec 13, 2014 11:58pm Dec 13, 2014 11:58pm
You don't even have to wait for the cross. Notice how bullish the stochastic was yet price didn't react the same way, NO DEMAND. When you enter the trade just make sure a time frame that is 4 times bigger is still going down.


Quoting FXyao
{quote} 101; Just an idea to determine the entry and exit points by the cross of fast+slow RSIs for your consideration, I hope someone know mql language can program it so that the robot can trade by itself, we only need to set our comfortable percentage 30/70%? of overbought/sold territory and direction of the trade. By the territory robot picks the entry and exit. Please post your test result if you apply this method so everyone can benefit it. thx {image}
  • #51
  • Dec 14, 2014 12:06am Dec 14, 2014 12:06am
Notice how it would be difficult to judge when to enter a short trade considering not all the oscillations get a high. Say you are trading that 4 hour chart you have there. You notice that the oscillator is becoming overbought so you get ready to enter a short trade but you want a precise entry. Divide your 4 hour chart by four and you get a 60 minute chart. Head over to an hourly chart and as soon as that one is overbought enter your short trade.

Quoting FXyao
{quote} Agreed, you have to read his method for many times to get an idea of macro view + micro action, I believed following entry points were by investing101 in September. Thx {image}
  • #52
  • Dec 14, 2014 12:09am Dec 14, 2014 12:09am
That chart is a 4hr chart, enter short and exit when it becomes oversold. Wait for the pullback of the oscillator and if price reacts weakly to a pullback of the oscillator enter short again.

Quoting skyway
{quote} .....it will be good to see the corresponding exit points to appreciate his trades better.....can you follow up with that ?
  • #53
  • Dec 14, 2014 12:16am Dec 14, 2014 12:16am
Quoting investing101
You don't even have to wait for the cross. Notice how bullish the stochastic was yet price didn't react the same way, NO DEMAND. When you enter the trade just make sure a time frame that is 4 times bigger is still going down. {quote}
Dear 101;

Very sorry, do not quite understand the last sentence. Can you provide a graph to show "When you enter the trade just make sure a time frame that is 4 times bigger is still going down"? thx very much.
  • #54
  • Dec 14, 2014 12:20am Dec 14, 2014 12:20am
Quoting investing101
Notice how it would be difficult to judge when to enter a short trade considering not all the oscillations get a high. Say you are trading that 4 hour chart you have there. You notice that the oscillator is becoming overbought so you get ready to enter a short trade but you want a precise entry. Divide your 4 hour chart by four and you get a 60 minute chart. Head over to an hourly chart and as soon as that one is overbought enter your short trade. {quote}
Can we use 30min tf as well to get the entry point? I thought you mention you prefer 30mintf to trade. 4h tf is just to make sure there is a trade change. thx
  • #55
  • Dec 14, 2014 12:22am Dec 14, 2014 12:22am
Quoting FXyao
{quote} Dear 101; Very sorry, do not quite understand the last sentence. Can you provide a graph to show "When you enter the trade just make sure a time frame that is 4 times bigger is still going down"? thx very much.
I think i got your idea, thanks 101..
  • #56
  • Dec 14, 2014 12:32am Dec 14, 2014 12:32am
I use multiple time frames. What time frames you use doesn't really matter, just don't make them to small because small times don't reflect supply and demand. 15 minute charts are the lowest you should use.

So say you do go with a 15 minute chart. I would have the following charts open too, 60 minute chart and the 240 minute chart. The 15 minute chart represents your trigger while your larger time frames are your trend. Exits will be quicker with lower times frames and therefore if you use higher time frames like a 240 minute, daily, and weekly you can bet on big moves.
  • #57
  • Dec 14, 2014 12:35am Dec 14, 2014 12:35am
Quoting investing101
That chart is a 4hr chart, enter short and exit when it becomes oversold. Wait for the pullback of the oscillator and if price reacts weakly to a pullback of the oscillator enter short again. {quote}
101;

When you "enter short again", do you use the same lot size or smaller? what the sl do you place? thx
  • #58
  • Dec 14, 2014 12:37am Dec 14, 2014 12:37am
Quoting investing101
I use multiple time frames. What time frames you use doesn't really matter, just don't make them to small because small times don't reflect supply and demand. 15 minute charts are the lowest you should use. So say you do go with a 15 minute chart. I would have the following charts open too, 60 minute chart and the 240 minute chart. The 15 minute chart represents your trigger while your larger time frames are your trend. Exits will be quicker with lower times frames and therefore if you use higher time frames like a 240 minute, daily, and weekly...
Thank you very much, i understood this fully.
  • #59
  • Dec 14, 2014 12:44am Dec 14, 2014 12:44am
Dear 101;

Do you consider this is an uptrend on the EURUAD monthly/weekly chart? thx
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  • #60
  • Dec 14, 2014 1:13am Dec 14, 2014 1:13am
when your large time frames like the monthly are overbought or oversold you will have consolidation usually. Now overbought or oversold situations in large time frames like the monthly also represent change in trend "coming soon". You will get explosive moves if the trend does change. I have found it still safe to trade in the direction of the original trend as long as no major news comes out.

So rule of thumb for me would be definitely pay attention to news releases (don't trade) when large timeframes are in overbought or oversold territory. If no news releases are scheduled then it is safe to keep trading in the direction of the original trend. So in this case, if the monthly is looking like it is close to a reversal go to a daily chart and still short the currency if it is overbought.

Quoting FXyao
Dear 101; Do you consider this is an uptrend on the EURUAD monthly/weekly chart? thx {image} {image}
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