The Trader's Arms 2nd Floor

thecdog · April 30, 2013, 2:43pm

Hey HoG,

If I can throw in my 2 Euros here as a non-expert and student of S/D Zone trading, Kenneth Lee’s BS Trading PDF is a good starting point and primer, and slipp3ryWhippit is doing an excellent job answering your questions (All of this IMHO.). Just as you went to Mr. Candlestick, Steve Nison, for a “from the horses mouth” education about candlesticks, watching Sam Seiden’s webinar recordings will go a long way to answering all of the questions you have raised so far and even some you haven’t conjured yet, but no doubt will.

If you can fit it into you schedule, Sam will be doing a live webinar this Thursday, May 2nd, on FXStreet. It is scheduled to start at 15:00 GMT. They usually last 45 minutes. Also, futher reading about S/D trading can be found in a weekliy newsletter from the Online Trading Academy called Lessons from the Pros. (BTW - Caveat: I am not an employee, student or graduate of Online Trading Academy. What I have gleaned of what they teach from the webinars and newsletter makes sense to me and it is the strategy I am using as a basis for my trading plan.)

I’ll butt out now. Good trading!

The_Home_Of_Golf · April 30, 2013, 3:31pm

thecdog:

Hey HoG,

If I can throw in my 2 Euros here as a non-expert and student of S/D Zone trading, Kenneth Lee’s BS Trading PDF is a good starting point and primer, and slipp3ryWhippit is doing an excellent job answering your questions (All of this IMHO.). Just as you went to Mr. Candlestick, Steve Nison, for a “from the horses mouth” education about candlesticks, watching Sam Seiden’s webinar recordings will go a long way to answering all of the questions you have raised so far and even some you haven’t conjured yet, but no doubt will.

If you can fit it into you schedule, Sam will be doing a live webinar this Thursday, May 2nd, on FXStreet. It is scheduled to start at 15:00 GMT. They usually last 45 minutes. Also, futher reading about S/D trading can be found in a weekliy newsletter from the Online Trading Academy called Lessons from the Pros. (BTW - Caveat: I am not an employee, student or graduate of Online Trading Academy. What I have gleaned of what they teach from the webinars and newsletter makes sense to me and it is the strategy I am using as a basis for my trading plan.)

I’ll butt out now. Good trading!

No need to butt out cdog, all are welcome, ('cept AK numbers 1 through 413 !!).

I was just saying to ST the other day that I need to find a direction in my trading as I’ve been a little aimless in my trading.

I’ll take the kenneth Lee PDF as a starting point and I’m also working through the Sam Seiden archived videos Sanj gave me the link to.

Any definite starting point is a good thing, I guess where it goes from there is down to me.

The webinar on May 2nd, do you need to join or subscribe to anything to view it? Same with the newsletter, I take it you need to join up in some way to receive that?

Please don’t think you’re butting in, it’s all part of what we do best in this thread, discussing things. I personally like it even better when someone raises questions about a method, as ST did in this case, asking if it wasn’t simply the same method as another just by a different name.

The discussion and conversation generated by these questions is what we are here for at the end of the day.

Thanks for the info, talk soon.

HoG

thecdog · April 30, 2013, 4:30pm

HoG,

You will need to register for the webinar. Since I haven’t yet figured out how to insert links, copy and paste this URL and it should take you to the registration page: Swing Trading Spot FX

You don’t have to subscribe to the newsletter but you can. This URL, again copied and pasted, will go to this week’s newsletter and you can subscribe on that page: Lessons from the Pros - Free Trading Article by Online Trading Academy

I’ll be interested to read your comments and observations about either/both the webinar and newsletter. As you said, the discussion and conversation generated…etc.

R_Carter · April 30, 2013, 9:05pm

AUD/NZD looks a good buy right about now… what do ya think? :22: Anyways, I’m in.

bobmaninc · April 30, 2013, 10:30pm

I dont have AUD/NZD on my plattfrom so no comment but the bobmaninc 4hr is looking like a great sell. Since it broke below the S/R it has only restested once (this is the second time).

I just went ahead and put a small entry on it. As what I dont like is on the 1hr that is a strong bullish candle. Plus there is no confirming candle (although this year has not been to good with confirming candles).

Now HOG as for how to determine the zone (sorry I have not read that PDF file all the way yet I have been busy playing with the kids and got suckered into being a girls 12yr old softball coach.

But to me I determine the zone from pretty much the most recent area of consolidation. From there Watch how price is reacting as price enters the zone. For reference go back to the recent consolidation on a smaller timeframe and put lines on S/R within that consolidation only. Now go back to where price is now and you will see an area where your lines are bunched up tight. This will be your best area for price to react. I still like to get in at the top (assuming I am short) as that gives you the smallest stop but also has a higher probability of that stop being hit and the range being taken out IMO.

For an example in the chart above I have 1 grey line to show the S/R level but if you look at around 3/20 (hope its large enough to see when I hit post) that is the most recent area of true sideways action. If I was to drop to a smaller time frame there and highlight areas within that range. You will find an area where your points of S/R bunch up. This will catch the most orders. This will have your small timeframe traders as well as most other traders that use top down analysis as well as anyone else that has every S/R level ever made highlighted on there chart.

SimonTemplar · May 1, 2013, 4:42am

It’s certainly sitting high up my watchlist as being at an interesting level. However, I’m pretty cautious in the current market, so will wait to see whether the Daily gives me a PA Entry - a nice low test this evening, ideally! We’re thinking the same way, though!

R_Carter · May 1, 2013, 11:14am

Looks like its already broken out ST? All in all, its been a good day… 1000 plus pips!

bobmaninc · May 1, 2013, 11:20am

Nice trading. I cant say I bagged 1000 pips this week but my short just added another 100 in the bank. And that officially just put my account back in the green. No more drawdown to look at

Another thing I like about this trade was the entry and exit accuracy. According to myfxbook I cant get much better then that as My entry was 100% (to the exact pip) and the exit was 96% (missed 3.5 pips :17:) lol.

Still not as nice as your trading as I have been stopped at be on some of my trades but still all and all for the week I am very happy.

thecdog · May 1, 2013, 4:12pm

Attempting to insert a JPEG of chart showing demand levels on the EUR/USD. Added the levels 4/29, late morning.

Apologies in advance if this does not work.

R_Carter · May 1, 2013, 6:02pm

I’d like to see a convincing and sustained break of 1.3136. before 1.305. Currently both daily and weekly bias is to the upside.

The_Home_Of_Golf · May 1, 2013, 6:24pm

Evening all !!

Ok so spent most of today completely unable to connect to this site. Usually it’s only my pc that takes the huff with BP, but today all devices known to the HoG family that have the capability to connect to the internet decided they did not want to play either. To be honest this is becoming more of an issue than I can be bothered with.

I can only connect with IE now, but I use Firefox and all of my stuff is stored through Firefox.

Normally when my browser refuses to connect I need to uninstall the whole thing, then reinstall it and it works for a few weeks before quitting again. The uninstall/reinstall process doesn’t bother me that much because it only takes a few minutes, but I’m losing my bookmarks, which include the sites we visit to run the household and reinstalling all of that is becoming a pain in the neck.

Add this to the fact some people (person) seems to be making more comebacks than Frank Sinatra, although much, much less enjoyably and it’s time for me to hold my hands up and say enough is enough guys. As of the end of this week I’ll be pretty much gone from here all together.

I intend to continue down the Supply/Demand route, to where it takes me and I’ll still be posting my thoughts on my trading, just not here.

I’ll still be notified by email as to any posts or PM’s, so should anyone care to find out where I’ve gone, just shoot me a message and I’ll give you my email address. Two things to note here…

Firstly…I’ll only respond to a username I already recognize, so if I get a message from TheCarMechanicAK47 or SchizophrenicPete, I’ll not be answering thank you very much.

Secondly…If no-one sends me a message asking where I’ve gone I won’t take it personally LOL!! Do what you need to do yourselves guys, that’s what this business is all about. Best of luck to all.

HoG

IyaJenkei · May 1, 2013, 6:32pm

[QUOTE=“The Home Of Golf;484155”]Evening all !!