Price is everything

I like where this is going.

When you are in the market you are to watch for your trade. I saw on every graph this situation when some big player exits out of the market but he didn't gain any profit. Why? The situation will be able to see on a open interest very good.

Show with chart

example

I'd learn to read PA first before trying to understand open interest, keep it simple and then if you still feel the need to, add the fancy stuff.

I don't want to get caught up in this but this comment as well as many others is giving people the wrong idea. Winnie makes these comments and then points people in the direction of Sam Seidon which to be honest imho is the only good advise he has given as Sam is the original supply and demand trader. I'm not trying to cause an argument with him he's not worth it, but new traders need to realise all the information is here and RTM. This is my last word on winnie I only posted because funnily enough I had just read one of Sams articles on The Influence of a Trading Community and then saw winnies post on how there are no filters yet Sam trades a set and forget style implying winnie is directing people to read the writings of a man he doesn't seem to have read himself.

Quote from winnie

Hey BP,
"Filtering" is a fallacy. It assumes you place a trade given a certain set of circumstances yet the circumstances are not specific enough and usually not based on PA. Kind of like saying "I will enter a trade long when the 5 ema crosses the 10 ema north but only if the stochs are oversold". The stochs are the filter but no PA involved here right? If you can see the fallacy in this kind of trading then you are on your way to TRUE trading.

Supply and demand zones are not signals to trade. They are areas to observe PA for a possible trade. The PA is the filter. LOL.

Quote from Sam

If you think I or members of the Mastermind Community are able to take these trades because we have somehow de-humanized our brains and have some super powers that only successful traders have, think again. We think and feel much of the same things everyone else thinks and feels. The key is that I realized years ago that my human brain is flawed when it comes to proper trading and has the potential to be my own worst enemy so I make sure I do my objective rule based analysis based on the laws of supply and demand and then take full advantage of today’s fantastic order execution capabilities to make sure emotion never even has a chance to come into my trading world. Below, I have taken a picture of what type of order I would use. By selecting the “OCO” (order cancels order) order below, I am able to enter an order to buy at demand, enter a protective sell stop order to limit the risk because you (and I) will have losses from time to time like my trade above, and also enter a sell limit order to take profits, all at the same time. Once I set up that order and execute it, I am hands off for that entire trade from start to completion. This accomplishes two things for you and I. First, it takes care of the emotions and second, it means we don’t have to sit in front of the computer screen all day; life is way too short to do that anymore! I call this “set it and forget it” trading.

For anyone wanting to learn S+D take the advise of Naughtypip and drop the indis and watch a few of Sams webinars and just focus on price, you can always go back to indis if it's not for you everyone trades differently.
http://www.fxstreet.com/search/contr...1-e9bf77216d2f

I started to learn I read a service literature. I didn't read any best-sellers. We must have knowledge to be able to do more.

I'll take that as a no aussie. Your an individual with a lot of criticism and nothing to back it up. Big talk but nothing else.

My charts with plenty of real trades will do the talking. What about you aussie? Just drivel I'm sure.

So for anyone needing more I have plenty in stock.

Curious.

I've begun a comprehensive PDF on supply and demand trading the way I see it. Many have approached me about my style of trading yet many are learning the basics and these basics are important. So in addition to referring them to great works such as Red's material in this thread and others like Kenneth Lee's "BS trading with Kenneth Lee" I will now have a more specific document that I can refer aspiring traders to and can more directly answer questions.

It is a work in progress and I invite constructive criticism and examples that you think might be good to have. I will credit you if I use your examples. Thanks.

No disrespect intended Vitez. Even if I say Yes will it make a difference to you or anyone else? No. It is up to the trader to make a strategy work. No matter how good the strategy the strategy will not suddenly cause a trader to be profitable. Each one of us must decide how we will trade. Once we have decided each one of us embarks on a journey to do one thing. Make money.

As for whether or not I am profitable I will just let my charts speak for themselves. I wish you good luck.

There is a lack of leadership to guide this thread in a continuing positive direction. Individuals like aus1way and directxxx with zero credibility make unnecessary attacks and unsubstantiated claims in an attempt to discredit. They can do so without fear of being banned because Red is no longer here. I feel these individuals would have been dispatched if Red were still around.

Sadly Red is gone and thus so is his ability to guide the thread. Posts from old timers here are scarce.

Rather than expend energy on Troll banter I will leave this once great thread. Let the trolls have their way.

"The PIE chatroom - rebooted" was created to allow ideas based in supply and demand. It is a place that I control and where Trolls will be immediately dispatched. New and old traders can post without fear of ridicule. There are some seasoned traders posting there so I encourage anyone wanting to learn how to trade to visit and see for yourself. Trolls need not apply.

So Later PIE, unsubscribed.

ON FILTERING:

I have posted on this before, but there appears to be a need to do it again.

There are basically two (2) camps when it comes to Supply/Demand trading. One camp is what I call the "touch" trade crowd. Also known as the "set and forget" crowd. The other camp is the "Price Action" crowd.

The fundamental difference is that the "touch" camp is looking to simply take trades when a zone is touched. Whereas the "Price Action" camp is looking for some sort of Price action set-up to enter the trade when price touches and or enters a zone.

Let's back up for just a second.

Supply/Demand Zones are the manifestations of an order imbalance in the market.

Therefore, the greater the imbalance the less time we would expect price to spend at that level when it returns. So if you are a "touch" trader and find that price is spending a lot of time in your identified zones, the zones must not have that large of an imbalance. In other words, if price is spending a lot of time in the zones, your zones do not represent large enough order imbalances.

The Price Action trader, on the other hand, does want to see price spend a little bit of time in the zones. A Price Action Zone trader can thus identify "weak" zones from a touch trader's perspective. The reason being, the Price Action trader is not going to place a trade unless it is confirmed by the price action.

What does this mean in terms of filtering?

For a "touch" trader, filtering is used more to IDENTIFY the levels.
For a "price action" trader, the price action itself is used to filter trades taken at the levels.

This is why a "Price Action" Zone trader will always have more zones than a "Touch" Zone trader.

One trap I often see Supply/Demand traders fall into is simply calling swing highs and lows supply and demand respectively. If the trader is a Price Action Zone trader, the situation is not that bad because trades will be filtered by the Price Action itself. For a Touch Zone trader this mistake is exacerbated by the fact that zone identification itself is the main filter. Once the zone is identified, a limit order can be placed. The trader then just waits for price to return to the zone. Hence the term "set and forget".

So the point is that both camps use filtering. The "touch" camp will use filtering more so to determine valid zone. Since they would then place a limit order after the zone is identified. The "price action" camp, while still using some filtering to determine zones (e.g. not calling every turning point a zone), will observe how price acts in a zone as the main means of filtering.

If you are a "Touch" Zone trader and you find yourself asking, "How can I be sure a zone will hold?". You are asking the wrong question. First of all, zones will fail. More importantly, the right question may well be, "How can I better identify a Zone?".

Sam S does use his "odds enhancers" as filters. He is a "touch" trader. That is why his enhancers focus on the identification of a zone. For a "Touch" trader, the zone is the trade. For the "Price Action" trader, the set-up is the trade. The zone is simply the place to see it.

Thanks I will have a read.

Out +2

Supply and Demand with the Sopranos

Very useful post, thanks for repeating it.

Great videos, as are his others on YouTube.

These are also great Vids by Ifmyante.

https://www.youtube.com/channel/UCDK...pzAWhbKtfVQUCQ