Filthy Rich for Dirt Cheap - Ajaymein

[gfg1]

Alias, here is the link to price is everything thread:

http://www.forexfactory.com/showthread.php?t=230888

Ajay,

Can't find where you linked the "price is everything" thread but thanks.
This is the type of stuff I look for, real ideas of what the market is doing,
not some blind pattern following or indicators.

http://www.forexfactory.com/showpost.ph ... ount=13009

The function of price and human behavior is what I look for.

[ajaymein]

I have a handy Odds Enhancers sheet that sits on my desk from Sam Seiden to grade SD zones...here they are:

1) How did price leave the level?
2) How much time did price spend at the level?
3) Profit margin?
4) Trend?
5) Retracements?
6) Larger time frame levels?
7) Levels on top of levels?
Time of Day?

When I am placing a trade, I almost always have a M1 chart up while I am hitting buy/sell. Very rarely do I take a trade based on M1, I always look at higher time frame levels and then look to M1 for price action normally when you get the proper price action in confluence with higher time frame SD levels, price will swing your way in minutes.

Hope that helps!

Hallo Ajaymein,

Can you please explain points 2 and 5 ? I look for tidy SD zones (not sloppy) as well. Do you play futures on CME ?

2) The way I see it...when price stays at a level for an extended period, that shows there are no heavy buyers or sellers and price is at equilibrium. When candles closed up and down to create a nice little block and then price moves heavily away from that area...that shows a notable imbalance of buyers/sellers.

5) If a retracement and bounce from the level has already occurred, you know that some supply/demand has already been consumed. Fresh levels are the best.

I have been wanting to read up on futures and get a broker that allows me to trade all different commodities but I just haven't read up on it yet...doing well on silver so haven't paid much attention to anything else.

[Fxforce]

Many thanks for clarification. Yes fresh zones are the best. But when price first time only touches S/D zone it is not bad idea to try take it once again. Confluence is very important as well. I also like james16 thread on FF.

Happy trading !

[ajaymein]

1st trade of day...I've been awake for less than an hour and already met my goal plus graaavvyyyyyyyyyyyyyyy...hmm, I wonder where else u can work 1 hour and make 10k.

[poipen]

1st trade of day...I've been awake for less than an hour and already met my goal plus graaavvyyyyyyyyyyyyyyy...hmm, I wonder where else u can work 1 hour and make 10k.

Robbing banks?.... Oh wait...

[Apu N.]

Robbing banks?.... Oh wait...

LOLZ!!

[ajaymein]

1st trade of day...I've been awake for less than an hour and already met my goal plus graaavvyyyyyyyyyyyyyyy...hmm, I wonder where else u can work 1 hour and make 10k.

Robbing banks?.... Oh wait...

[Fxforce]

Robbing banks?.... Oh wait...

Or become a banker... Absolutely great trading ! This kind of stuff is very motivating for hard work.

[prochargedmopar]

I have a handy Odds Enhancers sheet that sits on my desk from Sam Seiden to grade SD zones...here they are:

1) How did price leave the level?
2) How much time did price spend at the level?
3) Profit margin?
4) Trend?
5) Retracements?
6) Larger time frame levels?
7) Levels on top of levels?
Time of Day?

When I am placing a trade, I almost always have a M1 chart up while I am hitting buy/sell. Very rarely do I take a trade based on M1, I always look at higher time frame levels and then look to M1 for price action normally when you get the proper price action in confluence with higher time frame SD levels, price will swing your way in minutes.

Hope that helps!

Hallo Ajaymein,

Can you please explain points 2 and 5 ? I look for tidy SD zones (not sloppy) as well. Do you play futures on CME ?

2) The way I see it...when price stays at a level for an extended period, that shows there are no heavy buyers or sellers and price is at equilibrium. When candles closed up and down to create a nice little block and then price moves heavily away from that area...that shows a notable imbalance of buyers/sellers.

5) If a retracement and bounce from the level has already occurred, you know that some supply/demand has already been consumed. Fresh levels are the best.

I have been wanting to read up on futures and get a broker that allows me to trade all different commodities but I just haven't read up on it yet...doing well on silver so haven't paid much attention to anything else.

In the JoeRoss Ebook he goes over the foxes/futures argument......He doesnt have many good things to say about FX and the ebook was on DayTrading FX markets:

1. You get 12.50 per pip(tick) in futures.
2. You only pay $6 per standard round turn, NO spread.
3. Its easier to make 10 pips in futures because if Futures moves 10 ticks, FX will have usually only have moved 8.
4. ALL brokers shut down 1hr a day to make sure the books are balanced so there are funds(bonds) for ALL traders if they go belly up.
5. Transparent level 2 type quotes
6. NO funny business by brokers trying to run stops ect, you see ALL prices and orders on the books. (supposedly)
7. a few other things I cant remember atm.
SAM SEIDEN swears by the CME too!!

[prochargedmopar]

I have a handy Odds Enhancers sheet that sits on my desk from Sam Seiden to grade SD zones...here they are:

1) How did price leave the level?
2) How much time did price spend at the level?
3) Profit margin?
4) Trend?
5) Retracements?
6) Larger time frame levels?
7) Levels on top of levels?
Time of Day?

When I am placing a trade, I almost always have a M1 chart up while I am hitting buy/sell. Very rarely do I take a trade based on M1, I always look at higher time frame levels and then look to M1 for price action normally when you get the proper price action in confluence with higher time frame SD levels, price will swing your way in minutes.

Hope that helps!

Hallo Ajaymein,

Can you please explain points 2 and 5 ? I look for tidy SD zones (not sloppy) as well. Do you play futures on CME ?

2) The way I see it...when price stays at a level for an extended period, that shows there are no heavy buyers or sellers and price is at equilibrium. When candles closed up and down to create a nice little block and then price moves heavily away from that area...that shows a notable imbalance of buyers/sellers.

5) If a retracement and bounce from the level has already occurred, you know that some supply/demand has already been consumed. Fresh levels are the best.

I have been wanting to read up on futures and get a broker that allows me to trade all different commodities but I just haven't read up on it yet...doing well on silver so haven't paid much attention to anything else.

In the JoeRoss Ebook he goes over the foxes/futures argument......He doesnt have many good things to say about FX and the ebook was on DayTrading FX markets:

1. You get 12.50 per pip(tick) in futures.
2. You only pay $6 per standard round turn, NO spread.
3. Its easier to make 10 pips in futures because if Futures moves 10 ticks, FX will have usually only have moved 8.
4. ALL brokers shut down 1hr a day to make sure the books are balanced so there are funds(bonds) for ALL traders if they go belly up.
5. Transparent level 2 type quotes
6. NO funny business by brokers trying to run stops ect, you see ALL prices and orders on the books. (supposedly)
7. a few other things I cant remember atm.
SAM SEIDEN swears by the CME too!!