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withnail
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Postby withnail » Mon Nov 28, 2011 3:27 pm

In the meantime a small trade of 1m chart AUDUSD. Demand under pivot point seems to work quite nicely.

Image

Cheers Withnail.
1. Big loss, 2. Small Loss, 3. Big Win, 4. Small Win --- just prevent 1.

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Postby withnail » Tue Nov 29, 2011 7:25 pm

1 trade taken today. 3 cancelled limit orders, trying to get a handle on my over trading. Has been going ok after I place the order I look at it again and ask would I want to explain that in my log? 3 times I thought no so I cancelled them. Trade for today pretty similar to yesterdays 1m AUDUSD.

Image

Just got the OTA email has a nice article on breakouts from Sam Seiden. Not heard him discuss breakouts in this way before.
http://www.tradingacademy.com/lessons/2 ... rticle.htm

Also just discovered Pipeasy's thread at ff very good stuff. If your interested in trading more long term it is a great read.

Taking a couple of days off to write down a trading plan, goals and objectives etc.

Cheers,
Withnail
Last edited by withnail on Wed Nov 30, 2011 2:55 pm, edited 1 time in total.
1. Big loss, 2. Small Loss, 3. Big Win, 4. Small Win --- just prevent 1.

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Postby Relativity » Tue Nov 29, 2011 10:08 pm

Yup. PipEasy's thread is good.

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Postby withnail » Wed Nov 30, 2011 3:01 pm

Relativity wrote:Yup. PipEasy's thread is good.


Thanks Relativity I didn't notice I got it the wrong way round. I have edited original post from easypip to pipeasy. Actually this happens with me a lot with words and also numbers. Not handy when entering orders that is why I am using Easyorder a script that uses lines for you to set sl, tp and price. Saved me a lot of issues since i started to use it.
Cheers Withnail.
1. Big loss, 2. Small Loss, 3. Big Win, 4. Small Win --- just prevent 1.

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Postby Relativity » Wed Nov 30, 2011 3:12 pm

withnail wrote:
Relativity wrote:Yup. PipEasy's thread is good.


Thanks Relativity I didn't notice I got it the wrong way round. I have edited original post from easypip to pipeasy. Actually this happens with me a lot with words and also numbers. Not handy when entering orders that is why I am using Easyorder a script that uses lines for you to set sl, tp and price. Saved me a lot of issues since i started to use it.
Cheers Withnail.


No probs Withnail!

I am interested in how you define supply and demand zones on naked charts. I had tried doing it before with little success. Mind if you objectively explain? I hope you are ok with it =>

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Postby withnail » Wed Nov 30, 2011 9:32 pm

Triple post .. server giving error messages
Last edited by withnail on Wed Nov 30, 2011 9:37 pm, edited 1 time in total.

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Postby withnail » Wed Nov 30, 2011 9:33 pm

Triple post .. server giving error messages
Last edited by withnail on Wed Nov 30, 2011 9:39 pm, edited 1 time in total.

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Postby withnail » Wed Nov 30, 2011 9:34 pm

Relativity wrote:No probs Withnail!
I am interested in how you define supply and demand zones on naked charts. I had tried doing it before with little success. Mind if you objectively explain? I hope you are ok with it =>


Sure I don't mind I am not an expert but I can tell you how I look at it and a few things I have picked up. I have put a lot more detail on my charts for today's trades to reflect my thinking process hopefully this is helpful. First tip is to think of the orders on Sams desk when he worked at the CME, stacks of buys to left stacks of sells to the right. Price bounces around between the different piles and the piles can get smaller or grow. On a chart (1min is the best and don't have it to zoomed in) look for strong moves then trace the move back to the source if you see pauses (inside bars, side ways movements, hook type pause) this shows you where the orders are (at the pause), the strength of the move tells you how big the pile was and the distance between the piles. You need to try to get a feel for it. (first pausing after swing high/low, pausing at fibs, after breakouts at pp's are interesting). This is how I imagine it if it is true or not I don't know.

Relativity if you have specific questions just ask. Actually I have found since starting this log my trading has improved a lot, I think it is because I now think of each trade in terms of how I would write it here, how would I try to explain that, why is that?. All this questioning is making me see a lot of stuff I was missing before.

Here are the charts.

Image

Image

Image

Image

Cheers Withnail,
1. Big loss, 2. Small Loss, 3. Big Win, 4. Small Win --- just prevent 1.

Relativity
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Postby Relativity » Wed Nov 30, 2011 10:37 pm

withnail wrote:
Relativity wrote:No probs Withnail!
I am interested in how you define supply and demand zones on naked charts. I had tried doing it before with little success. Mind if you objectively explain? I hope you are ok with it =>


Sure I don't mind I am not an expert but I can tell you how I look at it and a few things I have picked up. I have put a lot more detail on my charts for today's trades to reflect my thinking process hopefully this is helpful. First tip is to think of the orders on Sams desk when he worked at the CME, stacks of buys to left stacks of sells to the right. Price bounces around between the different piles and the piles can get smaller or grow. On a chart (1min is the best and don't have it to zoomed in) look for strong moves then trace the move back to the source if you see pauses (inside bars, side ways movements, hook type pause) this shows you where the orders are (at the pause), the strength of the move tells you how big the pile was and the distance between the piles. You need to try to get a feel for it. (first pausing after swing high/low, pausing at fibs, after breakouts at pp's are interesting). This is how I imagine it if it is true or not I don't know.

Relativity if you have specific questions just ask. Actually I have found since starting this log my trading has improved a lot, I think it is because I now think of each trade in terms of how I would write it here, how would I try to explain that, why is that?. All this questioning is making me see a lot of stuff I was missing before.

Here are the charts.

Image

Image

Image

Image

Cheers Withnail,


Many thanks WithNail. I shall study your examples in detail. Your thread is gold; shall be adding it into my research list =>

Have you tried using some kind of swing / zigzag to assist your trading before? I am very intrigued by what you see on the M1 chart and trading off it, coz MasterForex does that too. He insists that if one cannot see how price moves at M1 level, the trader has failed to learn how to see price action and how it interacts with supply/demand/SR zones.

Relativity
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Postby Relativity » Wed Nov 30, 2011 10:41 pm

*edited due to server lag issues + duplicate post*
Last edited by Relativity on Fri Dec 02, 2011 1:41 pm, edited 1 time in total.

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