ProchargedMopar's Trading Trilogy

[prochargedmopar]

Hmmmm,

On this trade I would consider it a high risk scalp into supply against "new" trend, down.

See the drop/base/quick rise?
When price came back into that area I hit it long.
If you look left on the chart it's been used a few times.....I'm just not seeing them let e/j fall yet being it's gap time ish and it' hasn't held at the top very long.
Purple lines are a demand zone.....z-lines......and the trade was back into a Mighty zone....supply area.
Entry was late.
Anyway.

[prochargedmopar]

It works on g/u too.......hehehehe

[pp2]

Pro, what is demand and supply zone and how did you calc?

[prochargedmopar]

1st live trade of the week.
Took some off table because it looked to be pushing up hard.
Left plenty on the table with 2nd half.
Look left at pink line to see why I entered short.


GBP/USD 1 S 1.63258 1.63145 11.3 1.13 0.00 10/26/2009 03:30 10/26/2009 03:31
GBP/USD 1 S 1.63258 1.63191 6.7 0.67 0.00 10/26/2009 03:30 10/26/2009 03:31
2 18 1.80 0.00


Hmmmm

[prochargedmopar]

Wow, entry was sweet, exit Stunk.

Don't look now...............

[prochargedmopar]

I jumped the gun on this one....not a good trade.
Looked to be more sellers then buyers when it broke the trend line.

I closed the first half and then had a m5 close against me pretty strongly.
Got out on next candle for a b/e trade.

EUR/JPY 1 S 138.058 138.030 2.8 0.31 0.00 10/26/2009 04:00 10/26/2009 04:04
EUR/JPY 1 S 138.058 138.085 -2.7 -0.29 0.00 10/26/2009 04:00 10/26/2009 04:07

Hmmmmmm

[Brookmyre]

Wow, entry was sweet, exit Stunk.

Don't look now...............

An exit in profit is a good exit Pro. V nice.

[prochargedmopar]

Brookmyre,
yes, but it must be according to plan for it to be a good trade.

This one here I was not sure about so I took it on demo.
Didn't like how it closed so far into the Zone.

Sure enough, if gave 10 pips a couple times and then crashed back into it. lets see if it holds.




It gave more pips..............excellent.



And look at the last live trade I took that I bailed at b/e.....would have given good profit.

[Brookmyre]

Brookmyre,
yes, but it must be according to plan for it to be a good trade.

This one here I was not sure about so I took it on demo.
Didn't like how it closed so far into the Zone.

Sure enough, if gave 10 pips a couple times and then crashed back into it. lets see if it holds.




It gave more pips..............excellent.



And look at the last live trade I took that I bailed at b/e.....would have given good profit.

Very fair comment....a quick thanku also for posting the fxstreet links. I've only watched 3 of them so far but I've gotten A LOT out of those 3!! It's helped to solidify some of the things I've learned in NLA and quantify some of the things I've learned in DTB threads.

[prochargedmopar]

Your Welcome!!

Third and final live trade for the day.
before leaving work I went to the car, opened charts, waited for price to get to a level of former supply(about 5 min.) then took trade and went back in to the bathroom and clocked out.

Came back to car and closed half.....waited a few more seconds and then closed other half.

GBP/USD 1 S 1.63472 1.63433 3.9 0.39 0.00 10/26/2009 07:31 10/26/2009 07:41
GBP/USD 1 S 1.63472 1.63381 9.1 0.91 0.00 10/26/2009 07:31 10/26/2009 07:41

Still going down.......