wasp

all very 'facebook'! :\

the importance of supply and demand. hit it perfectly!

Here is the chart I posted during the week. With the trendlines in orange (1st 3 candle = TL basis) you would have had no losses (!) since December 2007 but would have missed, and had to accept, some would retrace BIG and that would take some big kahunas! Mind you, with those TL's, not a single loss all year........... hmmmmm... :hmmmm: Maybe I have the holy grail!

Later I will post a couple of examples where a few examples of missing out near 800 points in a week as waiting for the trend to finish rather than taking rejections of supply/demand levels. Here is an example of the last 24hrs where S/R on large then small enables adding and getting the best price based on supply and demand alone.

Yes, on the larger TF's at least. Supply and demand alone are plenty to decipher the dailies with a high statistical rate adn tell enough and actually see TL's as a hindrance and waste of good moves.

Today was an exception due to the gap opening but I would normally wait for the new daily candle, then place an order above/below depending on direction at the level causing the reversal. For example, had we opened this week at 209.20, I would have plaved an order to sell at 209.35 up at the resistance. I then add during the day if wanted based on 4hr S/R otherwise wait till 11pm BST and act depending on the close and local S/R. I have ditched trend lines on the dailies btw. The only exception is if it doesn't reverse then I will act on the next 4hr candl in relation to said important level, and look to SAR.

Trust you to make it dirty! I just wanted to say hello and hope everyone was ready for another week slaving to the markets! Unexpected but good to see some other markets shown here though. Amazing how many there arew and how many opportunitites for money there is! Hell, I don't even know what market STW is?!! :shocked:

Yep! Made my weekly 'wage' target already this week from one GBPJPY trade and the other is up 250 at the moment. Whilst the dailies are lesser in the stake size, you can just use smaller TF S/R to add on the way to your target and hey presto! no difference financially and more free time!

As i mentioned before on t2w, I have 2 accounts which I trade exactly the same. One I get a 'wage' and the other is run till end of week and take the average. Neither last week were exactly great and both run all week. Anyhow, this week, the wage account closed for just past target @ 205.80 for +220 and the other still open.

_____________START OF NEW WEEK______________ bit of a harsh gap down! Out for +1 and short GJ at 208.00

Just felt like saying aloha to all and hope everyone had a good weekend, ready for another fun week of trading in here but there isn't really a thread for it. Thus hey presto, an off topic thread to say hello, organise gate crashing parties to firewalkers place in Belgium (:rofl:) and step away from the market if its being a bitch! So hello! Hope everyone had a good weekend and all looking forward to another week at work

This is exactly the same problem I have had with EJ lately. The bigger TF trend has been up yet, I take long and short signals so when the market hits that larger TF on the uptrend, the shorts have no follow through and I'm late on the long instead. Life is much easier when markets swing up and down and great returns can be made from both swings but it is a bit harder in an uptrend. For me, I do not label myself as _____ trader, I just go with the flow of the market and with FX, that is easier as we never close... thus switching to holding for a few days a time is much easier. Anyhow, I'll contribute more on your blog as you post.

go big FW!

I thought you were happy on the dailies? I have just moved up to them due to the lack of volume of late :shocked:

Doh! :doh: Sorry turtle! Unfortunately, he and temptrader will never go. Its been a tough month for all I think and some of the Indicies traders have been feeling the pinch as well. I have moved up to a larger TF so as to get out of the tight ranges. I'll have a read of that thread later cheers. Good weekend all!

Still long and as everything really is known in advance, see you all at 213.50 next week.

good to see I now rate the highest rep receiver in the last 7 days!

Unfortunately he wasn't convinced and a PM or 2 was exchanged to get his response. All scuppered now as NT pointed out it was a copy and paste job. Allegedly nothing to be proud of db! depends on the POV though! :rofl::rofl:

I cannot believe you have repped me Lee Shephard! I am Soocrates! Its not the real one! PS, I think everyone should rep the hell out of SOOCRATES until he is number 1!!!

FYI anyone who is watching!

Sorry, I mean it will be closed for -50 if it hits the order and I would short after @ 50 Otherwise, If it continues long, I have a limit for 213.40

Order in to SAR @..... Closed @ 208.55 for -50 Short GJ @ 208.50 Take profit @ 213.40

Few days probably, see how quickly it pans out. Moving over to larger TF's mean the targets are further away of course so I won't be posting / trading as often but on this TF, trades are usually 3-4 days. That wasn't meant about you btw, that Jtrader and Trendie could put fingers to keyboard occasionally too

In fact, just going long GJ at 208.05 with 75 pip stop and a target circa 213.50

Will be taking longs shortly and I'll try to remember to post but no one else does on my thread