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  • #101
  • Dec 15, 2014 12:19pm Dec 15, 2014 12:19pm
Dude you are getting it!

Quoting FXyao
{quote} In MT4, go to File/Open Data Folder/, go to temples, then copy the downloaded template to this folder. go back to your chart, right click in the chart and a pop-up window will be shown, then just follow the steps. {image}
  • #102
  • Dec 15, 2014 12:25pm Dec 15, 2014 12:25pm
Up $7000, took profit at 1.24430. Could of stayed in for another $7000.
  • #103
  • Dec 15, 2014 12:30pm Dec 15, 2014 12:30pm
u
Quoting investing101
Up $7000, took profit at 1.24430. Could of stayed in for another $7000.
Did you take it down or up
  • #104
  • Dec 15, 2014 1:49pm Dec 15, 2014 1:49pm
Took profit, working on a short entry. Profit factor just went from a 400 to over 500

Quoting Shai1122
u{quote} Did you take it down or up
  • #105
  • Dec 15, 2014 1:51pm Dec 15, 2014 1:51pm
Guys you see, everything in the big time frames was overbought, even with the spike to over 1.247 it came falling like a ton of bricks. Would have been a big payday if I shorted that again!
  • #106
  • Dec 15, 2014 1:52pm Dec 15, 2014 1:52pm
suscribed, what oscillator would you recomend as the best? from what i saw you use stochastic, any particular number sequence?
  • #107
  • Dec 15, 2014 2:08pm Dec 15, 2014 2:08pm
Hi all
Don't laugh at me. I am a beginner .I lost a lot of money following RSI, ADX and the like.
Until now I can't get it practicaly in details . I don't know what is meant by the oscillator in the direction of the trend. does it mean the oscillator in in over bought or oversold zones and the price isn't going down or up, or the direction of the oscillator line is the in the direction of the trend. Is it possible that some body please make that clearer preferably in video or clear pictures. I was reading about supply and demand zones using info from SamSeiden and Elfonso. The method presented by Invester101 is very simple compared to what I had read about . My gratings to Investor101 and many thanks for his generosity and for you all for participating in this forum to help others.
  • #108
  • Dec 15, 2014 2:25pm Dec 15, 2014 2:25pm
Quoting investing101
I feel I have mastered reading supply and demand after years and years of tireless sleepless nights and days watching price action. The name of the game is to recognize supply and demand.
The short version of the first post of this thread, and the one that will probably be glossed over by most new traders.

All it takes is....

years and years of tireless sleepless nights and days watching price action
  • #109
  • Dec 15, 2014 2:35pm Dec 15, 2014 2:35pm
Thanks
For your help . I was struggling years not just now. But couldn,t get the one system that helpped me . I think you and many people learn from each others. If you are not willing to help others I think will do. If you live long enough you find all sort of people this is life my friend.
  • #110
  • Dec 15, 2014 5:26pm Dec 15, 2014 5:26pm
Quoting cisco92111
I find supply and demand to be the reality of how markets work. I tried indicators in the past and also indicators along with supply and demand but wasn't successfull. I find ONLY USING PRICE without indicators the best way to trade. It takes a while to understand in your own way how to read the supply/demand areas but after you "get it" it really simple and straightforward.
CISCO,

Your absolutely right my friend. I couldn't have said better myself. For me this is simplicity at
its best.
  • #111
  • Dec 15, 2014 7:00pm Dec 15, 2014 7:00pm
Quoting investing101
Up $7000, took profit at 1.24430. Could of stayed in for another $7000.
101;

Sadly I placed tailing stop loss after reaching over 50 pips, but the news raised it to 1.247x and touched my new stop loss. therefore I only got few pips in the end. How you determine your stop loss? What is the percentage of lot size comparing to your total asset? Also I found out that using the cross of 2RSis to determine the exit point has lagging problem. Please advice. Thx.
  • #112
  • Dec 15, 2014 7:18pm Dec 15, 2014 7:18pm
Quoting investing101
Took profit, working on a short entry. Profit factor just went from a 400 to over 500 {quote}
101;

How many lot size do you placed to get $7000? If you entered eurusd at 1.2470 like me and exit 1.2430, then total number of pips is 40 pips. Do you placed you 17.5($7000/40pips) lots in one trade? Isn't it too risky since the money management that I learned is between 2-5% of the total asset? Thx.
  • #113
  • Edited 9:37pm Dec 15, 2014 9:07pm | Edited 9:37pm
Nice thread Investing...


Just wanted to add my take on trading with this methodology.

The first chart is a daily chart, showing a clear down trend based on the 50 EMA and I have chosen a section of the downtrend between the red vertical lines to take a look at. Now you can use the stoch and EMA combination on the weekly to determine overall trend and then look at the daily to see when the stoch and 50EMA agrees with the weekly trend. In this example the price is under the 50 EMA and the stoch is climbing into the overbought area on the stoch. On the daily chart you see the stoch is hitting the overbought area >80 and has just broken lower.

Once the daily is in line if you want to get the better entries and you have the time, you can drop to the 1hr chart. On the 1hr chart you see the first day I have blocked out in red, meaning this was the day the stoch turned down on the daily chart. At this point no one knows what price will do but the odds are in your favour to look for short entries. Look for price to retrace to the overbought area on the stoch you can enter.

You can use just about any entry technique you like, candle formations, support/resistance, supply/demand or price divergence. A good entry is always preferable but with this methodology hitting the overbought area on the stoch is the main consideration to enter a trade.

If your looking to have a stop loss of say 20, 30 or 50 pips and looking to gain 300 or 400 pips then you may be very disappointed using this methodology. I believe you will need larger SL as you are effectively trading the daily chart using the 1hr chart for entry.


You have multiple entries on the 1hr chart over several days and it takes about 7 days for those entries to pay off. Patience is the key here!

Hope this helps...
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  • #114
  • Dec 15, 2014 11:31pm Dec 15, 2014 11:31pm
Quoting ozziedave
Nice thread Investing... Just wanted to add my take on trading with this methodology. The first chart is a daily chart, showing a clear down trend based on the 50 EMA and I have chosen a section of the downtrend between the red vertical lines to take a look at. Now you can use the stoch and EMA combination on the weekly to determine overall trend and then look at the daily to see when the stoch and 50EMA agrees with the weekly trend. In this example the price is under the 50 EMA and the stoch is climbing into the overbought area on the stoch. On...
Dave;

Based on your method, can you tell tomorrow eurusd will go up or down? My is probably up trend as below per here. 101, do you agree? thx
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  • #115
  • Dec 15, 2014 11:34pm Dec 15, 2014 11:34pm
  •  wng
  • | Joined Dec 2014 | Status: Merry Xmas and Happy New Year all! | 44 Posts
This is PB trading right mates?
  • #116
  • Dec 16, 2014 4:12am Dec 16, 2014 4:12am
Not that much different to what I am doing with my swing trades using supply and demand levels. Just as you would get false breakouts of stochastic out of OB/OS areas, especially when stochastic can just hang in these areas for some time, I get false breakouts of higher time SD zones when looking at the bigger picture turning points. I like the way the op is comparing stochastic movement to price movement to determine direction, rather than the stochastic to determine direction alone. As stochastic is derived from price movement anyway, this is key imo.
  • #117
  • Dec 16, 2014 5:06am Dec 16, 2014 5:06am
Quoting FXyao
{quote} Dave; Based on your method, can you tell tomorrow eurusd will go up or down? My is probably up trend as below per here. 101, do you agree? thx {image}
FXyao

On the EUR Daily chart price is lust below the 50EMA and the stoch has reached the overbought area. I would stand aside until I see the stoch on the daily take a down turn and once that happens go to the 4hr or 1hr and start taking shorts when price retraces to the overbought area on the trading time frame.

This methodology may not give you entries every day. The other thing to watch is price is starting to hit the support/supply area at 1.2200 on the weekly chart, multiple touches to that area.. Price may bounce higher before lower. If 1.2200 gets broken then the downside is open for a further fall.
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  • #118
  • Dec 16, 2014 5:28am Dec 16, 2014 5:28am
Quoting ozziedave
{quote} FXyao On the EUR Daily chart price is lust below the 50EMA and the stoch has reached the overbought area. I would stand aside until I see the stoch on the daily take a down turn and once that happens go to the 4hr or 1hr and start taking shorts when price retraces to the overbought area on the trading time frame. This methodology may not give you entries every day. The other thing to watch is price is starting to hit the support/supply area at 1.2200 on the weekly chart, multiple touches to that area.. Price may bounce higher before lower....
Dave, eurusd reached 1.25200 from 1.2453 already. 101 method is topdown view and much simple. it does not mean it is 100 % accurate. thx
  • #119
  • Edited 5:57am Dec 16, 2014 5:46am | Edited 5:57am
Quoting FXyao
{quote} Dave, eurusd reached 1.25200 from 1.2453 already. 101 method is topdown view and much simple. it does not mean it is 100 % accurate. thx

Just be careful going long now as the daily stoch is overbought. You may want to wait for a pullback on the daily chart before you initiate a long position as this is the first real push to the up side in some time.
  • #120
  • Dec 16, 2014 6:04am Dec 16, 2014 6:04am
Quoting ozziedave
{quote} Just be careful going long now as the daily stoch is overbought. You may want to wait for a pullback on the daily chart before you initiate a long position as this is the first real push to the up side in some time.
yea, only short. thx
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