Supply/Demand, VSA, Wyckoff with Petefader

Hi tehmac. I`d buy another cheap laptop computer and put the mac on the shelf to be used for other things.
Regards
Stephen

Yes, the volume is standard on MT4, you just have to select it as it isnā€™t there as a default. Sorry, canā€™t help with the Mac for you. I did a google search for ā€œforex volumes indicator on a macā€ and there were a few 3rd party options. You would need to research pretty thoroughly though for where they get their tick volume from. Some brokers do have poor volume info. Maybe even if you ask some brokers if they have it on a mac platform. For example IBFX, GoMarkets etc???

i think u guys should be locking BEā€™s on those shorts now coz we have news in 15 mins :slight_smile:

get your target at fibo50? miss the signalā€¦ waiting for the nextā€¦

Umā€¦ noā€¦ Iā€™m probably gonna close half just before the news and lock BE.

EDIT: I waited little longer so my original TP1 was hit. Very nice indeed. Locked BEā€¦ now just sit back and enjoyā€¦

Yup, volume decreasing. I am guessing that is in preparation for the news. BE locked and about to take half of my position

Iā€™m right in there with you guys. Canā€™t take partial profits on my phone though. So Iā€™m out with 25 pips before news, and 1% to my account. GL yā€™allā€¦yes Iā€™m from the south :slight_smile:


ā€¦




Yeh Team!!!

Maybe someone can also help me with this. I am primarily a stock trader, but Iā€™m looking to give FOREX a go, assuming I can find a suitable platform. The figures are bizarre to me. For example on my Oanda practice account, for a short, I put in 1,170 units. It tells me this trade value is worth Ā£998 (I typically buy stocks at about Ā£1000 per holding, so I thought that would be a good figure. However, it tells me that 1 pip at this trade size is worth only Ā£0.07. I currently have 24 pips profit on my short, but this equates to only Ā£1.67 profit. To get meaningful returns Iā€™m guessing I have to dissociate myself from thinking in terms of stocks. It seems I would need a monstrous trading capital in order to get the same kind of returns.

OK guys, we have hit the 50-61.8 fib and seeing some demand there. It is late for me and my son gets up bloody early. I am satasfied and have closed my trade out.
This trade was in @ 1.34042
Closed 1st half @ 1.33769
Closed 2nd half @ 1.33503
Set 30 pip initial S/L @ 2% risk
2.63% profit total
13 pips max drawdown

Very happy boy
:59:


I use a mac too

Get a VPS - I use commercial network services.

Then remote in to your VPS using RDP for mac

Then use metatrader as per normal :slight_smile:

LoL I guess Pete must be proud of his little padawansā€¦

I hope nobody minds that the thread gets a little bit cluttered by all my posts. I think this thread works extremely well when you read it every day (or every minute) but it could be difficult to read it as a newcomer who didnā€™t follow it from the beginning.
Well maybe Pete could comment on this a little bit because after all it his thread and his rules. I would just like to ask everybody to stay on the topic, donā€™t bring any new super duper confusing strategies and for god sakesā€¦ donā€™t ever post fundamental analysis here. :58: :smiley:

And since this is already off topic I would like to proudly announce that I am finally in positive P&L. Since I started I lost a lot of money but today I finally made it [B]all [/B]back. I started strictly following Peteā€™s strategy at the beginning of November and it was my first profitable month. Made 10%, win rate 76%, averege win 30 pips, average loss 14 pips.

Great man. Due to time constraints, you might want to use a mt4 script to handle trades in these cases. Iā€™m at the computer enough that I donā€™t, but check out the thread by Sweetpip, she has shared one. Can lock BE and trail at certain points etc. I just see that you miss pips sometimes cause of that.

Oanda is different to most brokers, most brokers use Lots, and if I remember right 0.1 LOT = $1, however on Oanda 10,000 units =$1, that all you want to know really, you can easily over-think the basics, and you can use leverage which you may well not have done with stocks.

Did you use VSA for stock trading?

If I had been at the computer 20 minutes earlier with the first confirmation at the low as I previously mentioned, today could well have been over a 5% day :slight_smile:
I am not disappointed in the slightest in missing that first one. I am excited that I picked it and it went so well. There will be many more like that in the future, so look forward to some nice ones then.
Looking forward to next week :slight_smile:
See yaā€™s all then

Peterfader - Thanks for that, Yes, I most definately should have gone maybe a 15 pip Trailing stop and left it. More pips in the bank then. I was happy enough tonight seeing a few good trades in both directions though. Will definately apply some trailing stops in the future though. This could go all the way back to the bottom of that channel/lower trend line.


T/P Hit PIPS + You`ve got to be happy with that.

Iā€™ve been away this week, but Iā€™ve been swotting up on my Master The Markets, gee wizz I tell you guys you wonā€™t go wrong reading that all over again, Iā€™ll be making a nice handy summary over the next few days, like a quick reference guide, learning about shakeouts is absolute must, youu know those times when you think you donā€™t know what the heck is going on, itā€™s often a shakeout, and you need to understand when there is a shakeout to be able to take advantage of the following setups properly.

Thanks for that. Yes I use VSA and with my recent additions thanks to Pete I have a very reliable system, and Iā€™m making good profit from it. However, there are often significantly more frequent opportunities available in Forex. Itā€™s just the figures that scare me. I just calculated on Oanda that 17,000 units is equal to Ā£1 for me. Itā€™s the fact that the trade value is apparently worth Ā£14,511.00 that worries me when my account would be half of that. The Margin used is apparently Ā£725 and Iā€™m not particularly au fait with margin. I would prefer to trade without margin concerns. i.e. I can only lose what I have. So, I donā€™t really understand what that means.

Like I said, donā€™t think about it too much, if you put Ā£1 per pip on you trade and your stop is 20 pips, you will lose Ā£20, simple as, all it is, is that with Oanda for instance you get 50:1 leverage, so you can trade to the value of Ā£50,000 with Ā£1,000, but if itā€™s Ā£1,000 in your account you will never lose more than that.