I like an approach that gives absolute weight to what's important, and ruthlessly ignores everything else.
Sam's article has inspired me to spend a bit of time drawing boxes on my forex charts.
Sam's article has inspired me to spend a bit of time drawing boxes on my forex charts.
Now I've got rectangles all over the ferkin' place. I've got fat ones, thin ones, rectangles in rectangles.....
I haven't yet found a price high or low that can't be a supply zone or a demand zone. Maybe that's the point?
I haven't yet found a price high or low that can't be a supply zone or a demand zone. Maybe that's the point?
Not that I've seen/heard quoted. Sam Seiden and his OTA colleagues, also other commentators, do a fine good job of rationalising why it works - in any market and all time-frames. As ever, much hindsight charting is in evidence but I may pick up something more applied as I keep searching.
the most important thing is to identify the trend
if its trending upwards you can buy low or you can buy high or you can buy when the sun goes up and sell with profit
if the uptrend is stalling and starting to go sideways, its of course better to buy low and sell high
as long as you dont do it in a downtrend..
if its trending upwards you can buy low or you can buy high or you can buy when the sun goes up and sell with profit
if the uptrend is stalling and starting to go sideways, its of course better to buy low and sell high
as long as you dont do it in a downtrend..
At the moment every single trade I take is a trend-follower. But forex pairs etc. only spend a fraction of the time trending strongly. I hope that using supply & demand zones might help for non-trending trades.
Then stick to your last, don't trade FOREX it's a death trap
I haven't died yet and I've been trading forex since 2006. (before that I traded US equities for many years) :smart:
Peter
Then stick to your last, don't trade FOREX it's a death trap
There's no reason that forex should have the bad reputation for destroying traders' accounts as it has - apart from the leverage available specifically to forex traders. But that's more down to the individual trader surely? After that, its just price going up and down.
Then stick to your last, don't trade FOREX it's a death trap
forex make me very patient 10 pip trader , 10 pips in and out several times a day.It is gold mine.
How simple educators make it look in hindsight.
Where the price went up was your demand zone,where you should have bought.
Where the price went down was your supply zone,where you should have sold.
Simplez isn't it.got it?
Where the price went up was your demand zone,where you should have bought.
Where the price went down was your supply zone,where you should have sold.
Simplez isn't it.got it?
Tomo (and peter and fl)
Bit like your "double up" button and the 5 min default chart, SB companies point people at FOREX so I'd guess that's where they garner good profits on the other side of the trades.
Sure, price just goes up and down but maybe with different motivations than other intstruments - export/import companies getting lock-in hedging for example. I always think Gamma Jammer's http://www.trade2win.com/articles/752-day-life-forex-spot-desk-trader-part-1-a a good and telling read about what's moving price.
'Course, my view is probably coloured by my getting burnt when I tried it. All too fast and furious for me
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'Course, my view is probably coloured by my getting burnt when I tried it. All too fast and furious for me
If you use this thread article ideas , add a tick chart market timing strategy at the supply zones and demand zones , you have a forex holy grail strategy of 5 trades of 10 ticks each daily .
I knew Pete cracked the code in 2006.
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