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Attachments: C-12's Supply, Demand and PA thread
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C-12's Supply, Demand and PA thread

  • #3,921
  • Jun 5, 2016 1:13pm Jun 5, 2016 1:13pm
PA
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  • #3,922
  • Edited 9:22am Jun 6, 2016 9:12am | Edited 9:22am
Cadjpy m30 ...

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H4 3white soldier .....
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  • #3,923
  • Jun 6, 2016 11:45am Jun 6, 2016 11:45am
today's trades... lost some pips due to Yellen speech, should have closed them before it.. in this, EURAUD didn't work...
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  • #3,924
  • Jun 6, 2016 1:10pm Jun 6, 2016 1:10pm
Quoting mrhb30jr
Cadjpy m30 ... {image} H4 3white soldier ..... {image}
Not sure what white soldier is but looks like nice PA to me.

Also an excellent H4 demand area.
  • #3,925
  • Edited 1:23pm Jun 6, 2016 1:11pm | Edited 1:23pm
Quoting tradeforlife
today's trades... lost some pips due to Yellen speech, should have closed them before it.. in this, EURAUD didn't work... {image} {image} {image} {image} {image} {image}
Looks good to me. I caught the UCAD one before work...

I would strongly encourage people to look for these engulf continuation style entries. I think they are some of the safest trades money can buy.

I'm not sure what the strike rate is on these.... but when they show up, they are almost always a slam dunk for profits.
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  • #3,926
  • Jun 6, 2016 1:23pm Jun 6, 2016 1:23pm
Quoting C-12
{quote} Looks good to me. I caught the UCAD one before work... I would strongly encourage people to look for these engulf continuation style entries. I think they are some of the safest trades money can buy. I'm really not sure what the strike rate is on these but when they show up, they are a slam dunk for profits. {image}
Good one C12..
  • #3,927
  • Jun 6, 2016 4:18pm Jun 6, 2016 4:18pm
Quoting C-12
{quote} No live cash in the market until you've got at least a few years screen-time under your belt. The market isn't going anywhere so no need to throw any money away while learning. Get to know your chosen markets and nuisances in all market conditions. Get to know yourself more importantly, how you act under stress. Also how you act when the market is stagnant and there are no entries. There's a hell of a lot to it psychologically and the trading is the easy part. Take the advice from someone who has blown almost 20,000 in this game....
Hi C-12,
What was the reason or reasons for that?
I guess at that time you been:
1.trading for living(so not job commitment etc.)enough time to concentrate for trading as a job.
2.Probably you been trading under Ken's leading(time to discuss any problems right on beginning).I mean opportunity have everyday pro advice.
3.Probably enough knowledge about market and enough positive samples which gave you confidence to go etc.
Summary:enough capital ,knowledge,advice, proper risk model for your style of trading etc.
I believe you were in the same trading shape as you are today and things around was even better then today(Not job,Ken) etc.
All the best.
RP.
  • #3,928
  • Edited 2:55am Jun 7, 2016 2:35am | Edited 2:55am
Quoting Red Pirate
{quote} Hi C-12, What was the reason or reasons for that?
Well there were a number of reasons but primarily rushing in after only 1 year on the demo. This was back in mid 2013.

Here are the main reasons I think why I blew up back then.

1) Rushing in with live funds without carefully testing and analysing the strategy in a all market conditions.
2) No adherence to trading plan. No discipline.
3) Trading all hours of the day (often 16 - 18 hours).
4) Zone trading on the M1 chart (taking up to 300 entries per day).
5) Trading with crazy position size for account.
6) No family support for it. Daily major bust ups with ex missus.

Actually I had a good ride initially which led me into a false sense of security. Most of the damage was done in one single day during a big news event where I was caught out on the M1 chart (revenge trading with ever increasing size).
  • #3,929
  • Edited 3:24am Jun 7, 2016 2:52am | Edited 3:24am
Quoting Red Pirate
{quote} I believe you were in the same trading shape as you are today and things around was even better then today(Not job,Ken) etc. All the best. RP.
If I was in the same position now I think it would be totally different.

If I had 20,000 in a live account now my strategy would look more like this:

1) Wait for the best setup of the day (using Daily / H4 trend + H1 / M30 PA) across all 16/20 pairs that offers a 3:1 minimum RR.
2) Use 0.5% risk on the trade.
3) Exit trade at 3:1 target (hard target price set).
4) Don't trade around major news events.
5) Switch off monitors at 4pm

Basically I'd be taking only the absolute cleanest of setups. No practice entries or anything unconventional on a live account.

I'm not saying it would be mega easy but I think that's much more relaxed and sustainable that my previous gun slinging M1 strategy.
  • #3,930
  • Jun 7, 2016 3:10am Jun 7, 2016 3:10am
Anyway, as for current trading.

Here's some on AU - Just trend entries on H4 / H1.
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  • #3,931
  • Jun 7, 2016 6:02am Jun 7, 2016 6:02am
Gbpusd m30 ..

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  • #3,932
  • Jun 7, 2016 6:04am Jun 7, 2016 6:04am
Audusd m30

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  • #3,933
  • Jun 7, 2016 6:10am Jun 7, 2016 6:10am
Audjpy m30,...

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  • #3,934
  • Jun 7, 2016 7:20am Jun 7, 2016 7:20am
Eurgbp m30 ...

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  • #3,935
  • Jun 7, 2016 7:32am Jun 7, 2016 7:32am
Some nice work there mrh.

Talking about cherry picking setups... My pick for today would have been EN (H4 supply zone with nested H1/M30/M15 zones) and textbook PA.
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  • #3,936
  • Jun 7, 2016 8:52am Jun 7, 2016 8:52am
Quoting C-12
Some nice work there mrh. Talking about cherry picking setups... My pick for today would have been EN (H4 supply zone with nested H1/M30/M15 zones) and textbook PA. {image}
hi C12 good point for ur tips my friends,...

EURAUD M30, continue going down ..rejection PA at bearish engulfing M30 ...

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  • #3,937
  • Jun 7, 2016 3:33pm Jun 7, 2016 3:33pm
today's trades:
GJ, GN and UC trades taken at morning were good ones and closed in profits

but the GJ, AU trades taken afternoon became losers as they retraced. I ignored the higher timeframes direction and got hurt...
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  • #3,938
  • Jun 8, 2016 1:34pm Jun 8, 2016 1:34pm
Probably a good idea to close some of these down... Off to Thailand tomorrow for a few weeks.
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  • #3,939
  • Jun 8, 2016 1:37pm Jun 8, 2016 1:37pm
NU - Should have added more and kept adding...

Daily PA reversal was quite sneaky.
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  • #3,940
  • Jun 8, 2016 1:49pm Jun 8, 2016 1:49pm
EN
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