ajaymein wrote:lazygeorge wrote:Hi ajaymein,
My question is how you go about picking the supply and demand areas,
i take it they are from a higher TF..your entry is based on shorter TF momo??
I have been trading more of a dragon33 style,less trades and a set target of e.g 40 pips a day or something like this......
But im amazed at how the likes of yourself and the likes of es pip trade this scalping style,and i would love to be able to learn this just to see if it suits me or not.
Any advise or help for me to make the transition would be greatly appreciated....
All supply and demand areas are the same on everyone's charts. I spot clusters of candles with movement up and down but not really going anywhere. Then a sudden steep movement up or down with strong closes indicates that area has an unbalance between sellers and buyers. Then, when price returns to it, I just watch tick data and M1 candlesticks to tell me when to enter.
The reason why I normally am able to get to BE within minutes if not seconds is because my entry is based on tick data and tick higher and lower lows and highs and miniature tick supply and demand levels...like redsword says this works on ANY PAIR, ANY TIME FRAME.
As far as making a transition, it takes a lot of emotional control and staying in the flow of the market to scalping like es/pip, adaseb, myself and others on here do...before starting, just try drawing a few lines on a separate 1m chart of what you think are points S/D is unbalanced during one of your normal trade sessions. Then come back later, and see what happens at those lines.
Thanks for posting the charts, I'm still learning
Where do you get your tick data from? Is it a seperate feed, or is it in your platform?