hedgehog

Here is the manual :

hxxp://www.ziddu.com/download/16110906/ProfitunityManuals.zip.html

 

hope this help

Thank you anismufa. Was looking for the complete home study manuals. No one seem to have it.

didn't i tell you 1.0713 is a dangerous level to go short on? a very good place to go short on would be 1.0834 or 1.0864. hope this helps.

Is it because the zone has been tested before?

Trade Set-up. Time Frame: H4

 

Long CADJPY 81.63. Demand zone 81.21/63

 

Stop Loss 45 pips.

 

Take Profit 100/140 pips. Supply zone 83.12

 

Risk Reward 1:2/1:3

 

This is NOT a trade recommendation. This is for information and record only.

 

 

 

"If you read one guy's opinion and do anything based solely on that, you're an idi*t!" - Cliff Assness, AQR Capital Management

Trade closed.

Been very quiet of late though.

However, I spy an opportunity in AUDUSD. H4. Short on supply zone 1.07137 level. Currently below that after 3 bearish candles. Still looks good to me IMHO. 1st TP at 1.05800 and 2nd TP at 1.04650.

This is not a trade recommendation. I am very bad at that :-) This is a matter for record and information only.

I've not been trading much this week but here's a daily level that I had been looking at that finally triggered today. Taking a trade like this is a bit scary because price has been falling out of the sky over the last couple of weeks - but it's got to stop somewhere...

 

The black and red lines show the entry, stop & take profits - though I doubt whether I'll hold out for that upper supply level and more likely I'll look to take something out of it at 2 x risk - assuming it ever gets up that far.

JimJamBonks, these are exactly the trades to take because everyone is selling and it feels like doomsday as per what Seiden always mention. Trades like these makes the dough. Lots of it :-)

GBPUSD 60min chart. Worthwhile keeping an eye on this. It's a fresh supply level which had a good, quick drop away after the rally-base-drop which was in line with the recent downward structure and the lower end of the zone is at the big '00' level. Also it's that bit higher on the curve than the immediate high (which could also prove profitable).

 

Depending on how price actually approaches/enters the zone will hopefully determine whether it's worth a go.

 

http://img580.imageshack.us/img580/7121/17062011gbpusd.jpg

Jim:

This one is quite near higher time frame (H4 and D1) demand though. Am I right?

Aah right. That's pesky off-exchange, over-the-counter, non-regulated market maker pricing for you. ;)

I run several charts off several brokers (diversified :-)) and most of the time they are different but almost the same. The one you highlighted for yesterday's H4 was close to the level but didn't touch.

Hi Hedgehog. Sorry to pick on you - I'm not trying to be cruel, honest ;)

 

With respect to that CADJPY trade. Did you just enter it this morning? If so, I'm interested to hear your thoughts on that level not being a fresh one (it touched yesterday) and how far price reacted when it last touched the zone because to me the demand zone has about a 1:1 relationship with its nearest supply zone. I'm not saying it's wrong - there's no such thing as 'wrong' just interested to hear your thoughts out loud.

 

http://img16.imageshack.us/img16/1777/17062011cadjpy240min.jpg

Jim: On my charts, it didn't touch the level at all yesterday. Today's is the only time it touched that said level. Don't worry, everyone like to 'pick' on the hedgehog ;-)

Trade Set-up. Time Frame: H4

Long CADJPY 81.63. Demand zone 81.21/63

Stop Loss 45 pips.

Take Profit 100/140 pips. Supply zone 83.12

Risk Reward 1:2/1:3

This is NOT a trade recommendation. This is for information and record only.

"If you read one guy's opinion and do anything based solely on that, you're an idi*t!" - Cliff Assness, AQR Capital Management

Guys I noticed something. I put up both the S&D indicators, and as most said eyeballing is best, you should notice that there are levels that the indicators do not draw. You can see them easily especially with the indicator up for those who are still inexperienced. So in a nutshell, the indicators can be really helpful. Think of the training wheels on bicycle. :-D

Hope this helps.

There is an interview of Seiden in a 2006 Active Trader magazine. Link here:

http://www.multiupload.com/9N0NEY5PLS

hedgehog

 

That is a great idea. I am still trying to get the hang of this (being a real newbie to trading). I have done a couple of small successful trades and also done probably more unsuccessful ones as well.

 

The unsucsessful ones where of the lower timeframes 15 min and 5 min. I feel more comfortable with the 1hr chart.

Successes and failures are part and parcel of learning. Many do not get it and only want profits and not losses. You can't have one without the other. Once you get around that, you will be successful.

I have read Sieden saying that on higher time frames, it would be best and supply and demand zones works best as there are less noise. Having said that, he did mention that day trading using this method can also be profitable as long as you know what you're doing.

Thanks for your great analysis and posts JimJamBonks.

I would like to propose that we put up potential trades with naked charts, no lines, nothing, in order for new comers and experienced users of this method to discuss trades before they actually happen. I think with that we can equip anyone who would like to further learn this method of trading and we can only learn by doing and through constructive discussion.

Please no PETTY SQUABBLES. Trading is not an exact science. The very least we can build up a great foundation here.

What say you guys and gals?

Can I ask why you are going long. Isn't that against the trend.. Shouldn't you be going with the trend and therefore waiting just in the area above your target 3 and then going short. or have I go this wrong

whakamaru:

Remember Seiden almost always say that you buy when everyone is selling and sell when everyone is buying. That's counter trend to me :-) To be successful, you have to go against the herd. If you always follow the herd (not the trend mind you), one day you'll get slaughtered!!

What is important to remember is when you want to take a day trade or any trade for that matter, do refer to a higher time frame and check where bids are in relation to demand and supply zone. If it is near Daily Demand zone, you should be comfortable in taking any long trades in lower time frames and vice versa.

Hope that helps.

chan:

What does forced.tf do exactly? Does it force the indicator to use H1 levels for all other time frames??

What timeframe is that? H4?

 

Smile

Chankl78

M15. You can see it on the chart info bar above ...... hehehehe.

I also just realised that according to the way the levels are drawn by the supdem indi there should still be a level in that same area on H1 at the moment I'm typing. That's one more proof we shouldn't trust that indi blindly. The eyeball is still the best... ;)

 

P.S. - II_supdem does show it instead, although the one I drew starts from an older point

http://img7.imageshack.us/img7/5107/201106151053.png

But this trade would just be a 1:1 risk:reward ratio. Not a trade to be taken IMHO.