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vincentws
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Postby vincentws » Wed Nov 30, 2011 11:10 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.


Thanks Withnail for the quiet mention of easyorder. I have been using Magic Lines, but it is only risk based. Easyorder allows trades based on Risk or Lotsize. Excellent tool.

Thanks also for all of your posting. Many of us quiet ones are taking note.

Vincent

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Postby Relativity » Thu Dec 01, 2011 4:19 am

*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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withnail
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Postby withnail » Thu Dec 01, 2011 8:18 pm

vincentws wrote:
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.


Thanks Withnail for the quiet mention of easyorder. I have been using Magic Lines, but it is only risk based. Easyorder allows trades based on Risk or Lotsize. Excellent tool.

Thanks also for all of your posting. Many of us quiet ones are taking note.

Vincent


Your welcome Vincent. It is indeed a very nice tool to have in the toolkit :) I have pimped it a bit so it initially places the sl tp and enter lines over the fib lines I always draw on my chart. I also calculate the risk of the trade and print a line of text to the chart so I can see it before pressing submit "Risk is x euro, x% If you loose your account will be x" that has really focused me on the risk rather than dreaming of profit, has helped me a lot. All in the Easyorder_lines script, Just some idea sharing, maybe you can tune it in some other ways to help your trading style. Nice to hear you are enjoying reading I am learning a lot and enjoying sharing. I too was a quiet one for along time. This log has really helped me I would recommend it to all quiet ones. Best of luck with your trading.
Cheers Withnail.
Last edited by withnail on Thu Dec 01, 2011 10:40 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 withnail » Thu Dec 01, 2011 9:25 pm

Relativity wrote:
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.


Thanks for your positive words Relativity it encourages me to continue working hard on my goals, I will add Masterforex onto my research list thanks for the tip. I changed down to the M1 not so long ago, for me it got clearer (maybe a personal thing) I have learned a lot from watching price on this time frame movement between s&d, how a level gets weaker, breaks and switches from s to d because of the breakout traders. Comparing moves up and down price took 20 mins to make 20 pips on up side but only 5 min to get back down, geometry and angles I try to look at it from all sides. Even opening the order window to watch the ticks when I believe price to be in a zone. Looking for turns and looking left to see if I can see something could have caused it, gives you a eye for it. Always keep a 1h or 4h chart open next door as if you look at 1m to long you loose all perspective a 20 pip can look massive and make you think the euro is finally dead:) also important to know where you are in the bigger picture of the s&d battle . I have a long way to go on this still but I am enjoying the journey and doing what I can to make it happen. I put a lot of screen hours in trying to train the old eyes but I feel slowly it is paying of. Zigzag I have not used, I am always open to new ideas and learning, but these days I am also concious of not changing directions to much. I would be interested to hear if you have used it in combination with S&D. Good luck with you trading I see from your log you are working hard and helping others nice and motivational to read.
Cheers,
Withnail
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Postby withnail » Thu Dec 01, 2011 10:24 pm

Reading Stan Weinstein in the train today. Homework was to look more into Stan's phase 3 "The top" as I noticed a few weekly charts were looking that way. Just picked the DAX my old enemy :) I think I could have found my first z lines :shock: but I am never sure of the definition so could be wrong. I was just spotting if history repeats itself what's different what's the same.

Tired so I won't write much, maybe I talk to much. However I have to say I like weekly charts :D

Image

Image

Image

Image

Cheers Withnail,
Last edited by withnail on Mon Dec 12, 2011 1:13 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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pp2
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Postby pp2 » Fri Dec 02, 2011 2:18 am

Hi withnail,

I thought I had a nice method of trading until I stumbled onto your writings lol. Thanks for sharing :)

With my present system Entry is fine, I can always take a few pips here are there consistently, just go with the flow.

Keeping your posts in mind and watching my charts last night, targets seems crystal clear, something I've always had trouble with.

I took the following trades last night, my daily target has already been met so I was just taking these with smaller lots.

Any comments?




pp2
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Postby pp2 » Fri Dec 02, 2011 2:23 am

double post ... kreslik servers slow today

Relativity
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Postby Relativity » Fri Dec 02, 2011 2:46 am

withnail wrote:
Relativity wrote:
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.


Thanks for your positive words Relativity it encourages me to continue working hard on my goals, I will add Masterforex onto my research list thanks for the tip. I changed down to the M1 not so long ago, for me it got clearer (maybe a personal thing) I have learned a lot from watching price on this time frame movement between s&d, how a level gets weaker, breaks and switches from s to d because of the breakout traders. Comparing moves up and down price took 20 mins to make 20 pips on up side but only 5 min to get back down, geometry and angles I try to look at it from all sides. Even opening the order window to watch the ticks when I believe price to be in a zone. Looking for turns and looking left to see if I can see something could have caused it, gives you a eye for it. Always keep a 1h or 4h chart open next door as if you look at 1m to long you loose all perspective a 20 pip can look massive and make you think the euro is finally dead:) also important to know where you are in the bigger picture of the s&d battle . I have a long way to go on this still but I am enjoying the journey and doing what I can to make it happen. I put a lot of screen hours in trying to train the old eyes but I feel slowly it is paying of. Zigzag I have not used, I am always open to new ideas and learning, but these days I am also concious of not changing directions to much. I would be interested to hear if you have used it in combination with S&D. Good luck with you trading I see from your log you are working hard and helping others nice and motivational to read.
Cheers,
Withnail


Thanks Withnail. I also do not think I am there yet. Masterforex's basic idea is that price travels in waves/zigzags. The basic assumption is that the extreme of zigzags are potential areas of S&D, hence creating support and resistance. Price travels from SR to SR, breaking or bouncing according to momentum + multiple/higher timeframe analysis and confluence + wave theory.

I am attempting to create an indicator that shows all this easily, with less manual plotting of lines/SRs...etc. Unfortunately one has to do it manually 1st to understand it well, then the same logic can be transfered to the indicator. So far pretty successful, although I know I am missing a critical piece of the 'puzzle'; which is what you seem to have.

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Postby withnail » Fri Dec 02, 2011 1:28 pm

pp2 wrote:Hi withnail,

I thought I had a nice method of trading until I stumbled onto your writings lol. Thanks for sharing :)

With my present system Entry is fine, I can always take a few pips here are there consistently, just go with the flow.

Keeping your posts in mind and watching my charts last night, targets seems crystal clear, something I've always had trouble with.

I took the following trades last night, my daily target has already been met so I was just taking these with smaller lots.

Any comments?





Hi pp2, Thanks your positive comments and for taking the effort to post your charts. It's great to hear you had a breakthrough with picking targets :) I am not really qualified to offer advice on your trading I am not familiar with your style for entries, I am not familiar with a lot of stuff that is talked about here. However I notice you are using s&d levels for you targets nicely, looking left asking questions and picking danger spots. One point I have from chart 1 and actually you pick up on it yourself in chart 2 is from the last short you made on chart 1 you exit at what was a new supply area (was previously demand so I understand why, but higher time frame bias is down so worth a shot), I would look to use this new supply area to protect me and take the trade down lower. I always thought it would be a great learning exercise to post a chart and get ppl with different trading styles to show how they would trade it. So on that point I have made some chart to show how I saw the EURUSD yesterday. If anyone else want to join in this exercise it would be cool.

My charts:-

Image

Image

Image

Cheers Withnail.
Last edited by withnail on Mon Dec 12, 2011 1:15 pm, edited 2 times in total.
1. Big loss, 2. Small Loss, 3. Big Win, 4. Small Win --- just prevent 1.

pp2
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Postby pp2 » Fri Dec 02, 2011 3:13 pm

I appreciate your comments withnail, it all looks so logical drilled down from h4 to m1 and I really like the cleanliness of your charts.

This H4 supply has been tested three times now. From what I've read from RED's FF thread, the more times a zone has been tested means a lack of supply, possibly meaning price will blow through this zone to the upside.

But I also see a compression pattern into this zone on third test on the H4, H1, M30 etc... possibly indicating a 'likely' reversal.

Confusing but it would be good to hear your thoughts here.

And yes, it be good to have others participating on this thread.

Thanks again.

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