I looked into adding Stoch to confirm my entry point but looking at all the trades that I had entered, they were already confirming to the Stoch Oscillator. So I am not seeing much value in that.
However, I am surely seeing value in using Fibs to come up with exit levels for multiple TPs.
Will surely share that exit strategy here, once I have testing done. Please feel free to share what you are using as of now for entry and exits.
thank you, this information.
so far so good…half position closed with +60 pips…sl adjusted
half position closed with +50 pips sl adjusted
Aud/nzd hit trailing stop +40pips
Aud /jpy + 160pips …trailed sl to+ 120pips
What a great start for the week overall + 270 are safe…
Here is my current state of trades
GBPJPY (continued from last week)
- TP1 hit : 200pips
- TP2 hit : 320pips
GBPNZD
CADJPY
AUDJPY
USDJPY
Closed trades for the week : 876 pips
Over 11% of my account in closed trades and have another 8% of my account in gains still running to hit TP2 and TP3
@Trueman23 - Glad I came across you on Maryo’s thread. Thanks for starting this thread and taking us on the S&D route.
awesome results r2 … we are on the right track absolutly
S&D pushed my trading to a new level…
i think now its just about fine tuning the system … exit strategy etc.
congratulations and keep it going for the rest of the week
and a big big thx to kasravi and maryo who showed us this incredible way of trading …and soo simple
Hey Trueman, since you have been in the trading game much longer than I have, what process do you use for journaling your trades ? I am currently lacking on that aspect of my trading and would appreciate any input on that if possible.
R2
Are you using a indicator to draw ur supply and demand?
Supdem is one that I am trailing Thoughts?
I listened to one of his videos in which he explained how to draw supply and demand levels and he said that a new demand level is only made if that particular zone/ level has broken a supply level or vice versa but in the bounce strategy we only make these zones by seeing the price where it made huge movements so which one do you follow how do you make these zones?
I think both; the bouncing strategy and S&D strategy by Alpfonso from the above link are different but they are not contradictory.
I will try to sum up both these strategies in brief over here:
-
Bouncing strategy - this is very similar to a double top or double bottom. If the price has moved swiftly from a previous zone we should expect the same to happen again when the price hits that level.
-
S&D by Alfonso Moreno - this strategy takes it to the next level by saying that if the price doesn’t respect the level from where the price had moved swiftly before then that level should no longer be considered as a supply or demand zone. In short this is an extension to the bouncing strategy where you eliminate levels once previous supply or demand zones have been broken.
Let me know if that makes sense and please feel free to correct me if you have read differently about the 2 strategies mentioned above.
here is AUD/CAD from yesterday evening…at the time up to +80 pips…half position is close …sl is trailed to +40 pips
@r2
in the past i put every single detail of my trades in to a journal (excel and/or word)…i even wrote down every single tought i have about it but this were so much work every day ( i had have a lot of trades at the starting time) so i stopt it and tryed a lot of different systems …like ma cross… divergence…i tryed bb …i read a lot of books about different trade styles …but i had no patience to write everything down…
since the start of 2016 and our magical S&D strategy i write things down but into a book ( yes a real book not a notebook )
i like it to hold my notes in my very own hands and its lot more easy for me… its my way…
i write down :
-currency/pair
-date of trade
-entry price , SL ,TP limits
-big picture direction ( 1d trend)
-profits ( pips, and cash)
and for an easy look i mark the trades after closing in green(winner) or red (looser)
thats it …easy , simple …
did i miss something? or any advice ? whats your style of doing it ( i know keeping up the journal is hard …hehe)
@aniskazi
yes you are right if a demand zone is broken it could become supply zone …in this case i think it become a very strong zone .
but after strong movements out of the blue without changing a supply to demand or demand to supply zone there can form a zone too…so its not necessary to break a zone to form a new one …if this happens we have a strong zone i think …but iam also prety new to this system as you can read at beginning of this thread…
often i ve read that it is an “art” to draw this zones accurate …so we need time ,patience and a lot of screen work drawing this levels…some are easy to spot some are not
its a good “homework” to scroll your chart far far to the left and then slowly scroll right and draw zones you expect to see if it was right… thats a pretty good backtesting style and you will get familiar with the optical apperiance of “working” zones and “not working” zones…and you will see that it is not necessary to break zones to create new ones…
i personaly like the instruction on 21pips.com …its K.I.S.S
the one from mr moreno is absolutly awesome but its a loooooot of information and pics and videos
at 21 pips its more the structure…the beginner stuff… to see the basic of the system, afonso morenos thread is more going to details … but everybody has to find his own way in doing it its not like a mechanical system ( like ohh ma1 crossed ma2 lets go in) its more like finding the optimal odds for your trade…
in a nutshell a draw zones after big fast moves and when s or d is broken…
but i also think its an art you need to learn … and one of the biggest artists in this style is Maryo (yes he considers some other parameters to but 80% of his work is from s&d levels …my opinion
keep it piping and i hope you could understand my high end english
ohh Mr. R2 were faster hehe…
Well said Trueman!
I tried different things to journal my trades - excel, word, paper notebook, diary, etc but I am having problems with keeping the journaling process systematic and filling my journal everytime I set up or enter a trade. Need to develop that habit!!!
Just need to get more structured in terms of journaling everytime i put in a pending or Live order. I think you have covered all the aspects that I see important in a journal.
Thanks for your input, maybe this is the motivation I need to start noting down my orders!
this week i were very busy…just could take two Little trades …
i will post tonight …next week i can Focus on the lovely forex market again
Keep it piping
how can i upload an indicator ? I’ve got a supply and demand indicator which might help everyone here ? can anybody help?
Hey Aniskazi - Click on ‘Quick Reply’ then click on ‘Go Advanced’. It should take you to a new screen and then you can select the ‘attach file’ option there. Hope that helps!
sounds good aniskazi thank you…
here is 1 of my trades last week
AUD/USD closed half position with +50 pips, sl lose were moved to +20 pips…aaaand stopt me out
+70 overall for this trade
the other trade was EUR/JPY -50 pips and a second position with -30 pips
new week new opportunitys
NZD/JPY
maybe we will see a short … iam not in , just watching it
and maybe a long here …
GBP/CAD