Hello guys
im working with sam seiden’s supply and demand strategy for almost 6 months now
it is good and i know for sure it works
but i have some troubles identifying which ones do i have to take and which do i have to sit on and watch
i got a lot of stop losses which price just did cut through my zone like knife in the butter
i will check the zone and score them just like the strategy recommends: Strength, Profit Margin, Big Picture , Retracement, Arrival, Time, but my win rate is down, and i just got 9 losing trades in a row
i will put them here, i will so greatful if Someone who is fluent in this way and is making a living on a regular basis help me with the case
supply and demand areas are great, but how do u enter? if u r just basing an entry on touches ur gonna get slaughtered. i d suggest to look at some candle patterns like engulfing, pin bars, railroad tracks etc. having those zones is good, but also u could add some pivots, round numbers and look for confluences with even weekly or daily resist, support. another thing u could do is look also for divergences at those areas. add those up and ur succes rate should improve as long as u don t trade news and u have a decent money management. hope this helps.
cheers
Just buying at some ‘so called’ demand area is fraught with danger.
You WILL get slaughtered.
Unfortunately any strategy that blindly buys at support will do that.
Same applies to Elliot Wave nonsense and oversold indicators systems.
Again your correct in suggesting some Price Action system to help - which begs the question why use Sams Seidans approach at all?
I looked into his whole supply demand thing and looks to me like anyone using it would spend a lot of time catching falling knives.
Maybe if your an institution with very deep pockets this stuff is ok - but for newbies - with limited experience, shallow pockets, and using leverage the words recipe and disaster come to mind.
Also back to the original poster message ’ i know this works’ but also ‘just had 9 losers in a row’ is a bit of a paradox.
I dont know anything about the strategey your using but it looks like your using a 15min chart if im not mistaken. S/R zones on the 15 min chart might not be as dependable as s/r zones on a larger time frame because the smaller the frame the higher the probability that what your looking at is “noise”.
S/r zones and price action in general tend to be a bit more reliable on the higher frames imo.
Its good you spotted the time frame as well. OP should first fix the time frame by going longer for a better entry signal. Secondly use a secondary indicator to verify entry and exit point.
thanks a lot to all of you guys very useful points.
this topic is more than one year old. i just wanted to tell you what i have done in last year. i Learned price action a lot. what do i mean?? i have read al brooks price action and candle psychology reading.
the most important one. i have learned fundamental and sentimental analysis, and im still reading and learning about it everyday.
im telling you. from where im standing (more than 3 years of trading as a full time trader) you can not be a really successful trader without fundamental analysis
i think technical analysis is really good. specially for finding good price levels for entry and exit. but did you ever notice that everything on the chart is already happened and belongs to the past??!!
so now after all these puzzle pieces together, i use fundamental analysis, i use market sentiment, i use supply and demand, candle patterns, moving averages, all together really works out if you know your tools, and if you know how they work and why they have been created in the first place
alright enough. i just wanted to tell you that. hope you get what you want
Theres two threads on Forex Factory that I used to learn.
Trading Institutional Order Flow by AKT
(Ive posted my setups there recently)
Supply and Demand in a Nutshell by Alfonzo Moreno.
Dont worry about using PA to enter as thats not generally part of the rules (are you going to be awake at 2.00am waiting on an engulfing), limit orders are fine because most of the time you wont be there when the trade triggers.
You have to do a full top down analysis before taking your trades in order to pick the highest probability setups.
Read the two threads from start to finish mate, because by the time you get to the end you will have seen hundreds of examples of good and bad trades with good traders giving their advice. You will find out things you didnt know by going through them, and also the reasons why some of your trades may not have worked.
The driving force behind changes in price is supply and demand. When there are more buyers than sellers, **the market price will move up. Conversely, when there are more sellers than buyers, the market price will move down. When buyers and sellers are more or less even, the market will range.
