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Priceless Simple Trading Ideas

  • #41
  • Aug 22, 2015 5:58pm Aug 22, 2015 5:58pm
Quoting kprsa
{quote} It is a S/D indicator, not an EA, and it works on my charts (plots the tested and untested S/D areas). As for the trading system, the weak point is that the thread starter uses no stop loss whereas tp is 10 pips -> loss is in principle unlimited whereas the gain is limited. Much better IMHO is to place a stop loss below the zone. k
Is the open box the untested area?
  • #42
  • Aug 22, 2015 6:00pm Aug 22, 2015 6:00pm
Quoting tradur
{quote} Is the open box the untested area?
Hi there - it's ok now - I sorted it. I'd put the damn thing in theEA folder rather than the Indy folder! Doh!
  • #43
  • Aug 22, 2015 6:26pm Aug 22, 2015 6:26pm
Supdem just highlights certain patterns. Different timeframes show different levels. Has nothing to do with supply demand.
  • #44
  • Aug 22, 2015 6:33pm Aug 22, 2015 6:33pm
Interesting indicator and philosophy! Looking forward to seeing your setups. I trade on retracements as well but do not have an ea that does it for me. Very interesting blog. Keep up the good work. And of course your results certainly speak for themselves. Good for you, and thanks for sharing.
  • #45
  • Aug 22, 2015 6:54pm Aug 22, 2015 6:54pm
Hey Paul, very interesting strategy. I am always interested in consistent compounded cashflow.

Subrscribed.
  • #46
  • Aug 22, 2015 6:55pm Aug 22, 2015 6:55pm
Subscribed friend!! Thanks for all your help!!
  • #47
  • Aug 22, 2015 7:23pm Aug 22, 2015 7:23pm
subscribed... thanks for sharing
  • #48
  • Aug 22, 2015 8:13pm Aug 22, 2015 8:13pm
Have to watch out for this one.

If you're using 1 lot on a $10k account and it opens another 20 trades of same size (if I've understood correctly), that means a total size of 21 lots, i.e. around $210 per pip. If it goes 30 pips against the trade that's around a $6300 drawdown on the $10k account and without a SL just 1 bad trade will wipe the account out.

Perhaps 0.1 lots for a $10k account? That results in $21 per pip, so that same 30 pip move results in only $630.

Still I wouldn't use it without a SL.
  • #49
  • Aug 22, 2015 8:32pm Aug 22, 2015 8:32pm
Quoting pharley
Have to watch out for this one. If you're using 1 lot on a $10k account and it opens another 20 trades of same size (if I've understood correctly), that means a total size of 21 lots, i.e. around $210 per pip. If it goes 30 pips against the trade that's around a $6300 drawdown on the $10k account and without a SL just 1 bad trade will wipe the account out. Perhaps 0.1 lots for a $10k account? That results in $21 per pip, so that same 30 pip move results in only $630. Still I wouldn't use it without a SL.
don't need to trade 20 trade really
you can do 10 trades even 5 trades...
  • #50
  • Aug 22, 2015 10:40pm Aug 22, 2015 10:40pm
Interesting, thankyou,
subscribed
regards Oridpete
  • #51
  • Aug 22, 2015 10:55pm Aug 22, 2015 10:55pm
Thank you for sharing Paul. Looking forward to seeing this in action. Again, thanks.
  • #52
  • Aug 23, 2015 2:15am Aug 23, 2015 2:15am
Looking forward to know more about the strategy and some examples. But also how you deal with drawdowns, how many pips against you can you accept before you do something about it ? And i dont understand the 20 positions that you add ? what is the different for adding 20 positions and one big position at first ?

Best regards
  • #53
  • Aug 23, 2015 2:17am Aug 23, 2015 2:17am
Subscribed. Just wondering if you could also share your Magic EA as well......
  • #54
  • Aug 23, 2015 2:35am Aug 23, 2015 2:35am
Honestly do not understand why everyone needs this EA.
I want to know how to trade and how to apply this strategy!
  • #55
  • Edited 3:21am Aug 23, 2015 2:43am | Edited 3:21am
So i still dont understand when I enter for 100% guarantee 10pips..

FIRST:

So I open trade in situation 1) or 2) ... ?

Attached Image (click to enlarge)
Click to Enlarge Name: when open.png Size: 47 KB



SECOND:

Which indi demand/supply should I use? Ill_SupDem v2.32 or 2.33 or v2 ?????

THIRD:

Why Did you sell there? My indicator is wrong? Doesnt showing correct supply/demand zones? I dont see any cube at the area where did you selling..
Attached Image (click to enlarge)
Click to Enlarge Name: why there.png Size: 277 KB


Thanks in advice!

Best Regards
  • #56
  • Aug 23, 2015 3:31am Aug 23, 2015 3:31am
Quoting Mariodrugs
So i still dont understand when I enter for 100% guarantee 10pips.. FIRST: So I open trade in situation 1) or 2) ... ? {image} SECOND: Which indi demand/supply should I use? Ill_SupDem v2.32 or 2.33 or v2 ????? THIRD: Why Did you sell there? My indicator is wrong? Doesnt showing correct supply/demand zones? I dont see any cube at the area where did you selling.. {image} Thanks in advice! Best Regards
My view is indicated in the attached image. I stand to be corrected by paulforex if I am wrong.
Attached Image (click to enlarge)
Click to Enlarge Name: 01.jpg Size: 58 KB
  • #57
  • Aug 23, 2015 3:48am Aug 23, 2015 3:48am
By paulforex
The rules of this system I use!
Time Frame: 1hr and Daily.
Currency: Any Trending currency. I only trade GBPUSD and EURUSD.
The indicator gives alert on your chart when Price enters Supply(Green) or Demand(Red) zones.
My setup is: I use Daily chart to see STRONG Supply and Demand Zones clearly while i use 1hr to confirm and enter.
I SELL when Price hit the Supply(Green) zone with several alerts, followed by a BEARISH candle on 1hr.
I BUY when Price hit Demand(RED) zone with several alerts, followed by a BULLISH candle on 1hr chart.
This is "my own way" i get signals and it has been working for me 90% always as i target Only 10pips.
NOTE: Apart from STRONG zones which has thick colors, weak colors "SOMETIMES" guides in taking trades.
However, i do like to see several clusters of candles within the weak zones and a rejection before i decide to take trade.
You can also see the indicator in another perspectives. My Advice: Focus on few currencies so as to master the behaviour with
supdem indicator.
  • #58
  • Aug 23, 2015 3:48am Aug 23, 2015 3:48am
Quoting paulforex
"Simplicity Is The Best Approach To Everything In Life" Hala fellow forumite and traders! Am delighted to start this thread "Priceless Simple Trading Ideas" which has to do with SUPPLY & DEMAND ideas. Intro: My names are Paul Ikay Anumudu (a.k.a PAULFOREX). A father to a son (Priceless). A husband to a beautiful and sensible wife (Naomi). For Forex to have great impact in me I named FOREX after my name (PaulFOREX) and that was how My Forex Trading career began till date. My Quest For Forex Riches: In year 2004, an online friend mailed me about Forex...
Hi Paul,

Look forward to seeing the detail of the setups for your system. I like price action S/R methods.
  • #59
  • Aug 23, 2015 3:55am Aug 23, 2015 3:55am
Quoting Mariodrugs
So i still dont understand when I enter for 100% guarantee 10pips.. Best Regards
SD trade with renkos?? lol
Scan all 28 Forex pairs with ONE chart... Currency Strength28 Indicators
  • #60
  • Aug 23, 2015 3:59am Aug 23, 2015 3:59am
supdem indicator is only for help. you need always check manually if the zones are correct. Don't follow indicators blindly
Scan all 28 Forex pairs with ONE chart... Currency Strength28 Indicators
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