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11-10-2010, 09:08 PM

60minuteman
Se nior Memb er

#1
Join Date: N ov 2010
Posts: 157

Supply & Demand Trading Jou rnal

In an effort to improve my trading i have decided to start a journal of all my trades....
DISCLA IMER: THESE ARE NOT MY IDEAS, This is something i have learned and rings true to me, I can not guarantee it works, thats what we are he re
for... to find out!
the system:
I am currently in demo with 3 systems, all 3 work on the basis of supply and demand, you can call it support and resistance if you like, theyre the
same....
but, its no good just picking any old, s/d you need to strong ones!
So how do we decipher s&d, and what makes it strong....?
well first it is important that you grasp this idea.... only 1 thing moves the market, not the news, not fibs, not indicators, not trend lines.... the only
thing that will move price on your charts are orders to buy and orders to sell.....(i dont want to discuss this, its true)..
Price on your charts is a visual of those orders, at this price there was 100 orders to buy, and 1 to sell.... which way is price going to go? up...of
course!
here's a chart:


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we can see price went from 3 to 2, at point 2, what happened to price?
it reversed quickly and dropped strongly... why? because there was no more buy ers and lots of sellers.... who do we think was buying just before price
peaked?... i bet it wasnt the banks! or institutions.... it was novice traders...
"the biggest mistake novice traders make is buying into a high and selling into a low" i was part of that group....
(These are the traders we want to take the money from....)
So we can say at area 2 there is a strong imbalance between supply and demand...
When price returned to that level at area 1, based on what we have just learnt, what can we assume will happen? ... exactly price will fall (not always,
but you only need to be right at least 50% of the time to win with this system)

Ok well we can see if you had set your short the re, you would have made a tidy profit!...
now go check your own charts and see this playt out time and time again...
RULES:
These aren't really rules, but if finding the strong s&d areas is vital, we need some way of determining if it is strong or weak...
Thankfully that is easy too...
1. The areas have to be : rally-base-drop or drop-base-rally
youre looking for places where price turned..... its only minor s& d if price was moving up, went sideways, then continued up.... rall y-base-rally is no
good!
By all means note these areas, but theyre not what you are looking for... look at area 2 and 1 on the chart again.... rally-base-drop
2. how long did price stay at this area.... a short time is good! this shows there is a big imbalance between s&d
3. how did price leave this area... gap is excellent... but rare.. so we are looking for a strong move away.... area 1 and 2 on the chart again...
4. how far did it go.... this is your profitability
area 2 dropped about 350 pips... we look for at least 3/1 profit, so a sl at area 1 of 100 pips would of been ok...
5. you also want to have a decent amount of time between prices visit to an area, because obviously if price is constantly hanging around the area,
then its not meeting rules 2, 3 and 4.


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ENTRIES: for entries we need to draw in our s&d zones, the conventional teaching is to draw a single line, but thats just not realistic, price isnt going
to turn right on the exact pip!
so we draw a zone... look at chart 2
Attached Images
1.jpg (19.2 K B, 29 views)

Last edited b y 60minutem an; 11-11-2010 at 01:35 PM.

11-10-2010, 09:15 PM

#2

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60minuteman
Se nior Memb er

Join Date: N ov 2010
Posts: 157

ok here i have drawn in the top and bottom lines of my supply zone..
you are just trying to capture the range of prices whe re price turned...
its subjective, but practice.... i am

OK, SO WHEN DO WE PULL THE TRIGGER?
this is the bit im always trying to find on threads i read, so ive put it in big letters for you...
there are 2 approache s... conservative and gun ho! ... im a gun ho trader, unfortunately for me.... but its upto you!
conservative is to wait for price to come back to the area and show some signal that it has tur ned.... bollinger bands, fibs, whatever you like, if it
makes you feel better, do it..
gun ho! you just wait for price to enter the area, or even set a limit order on your line....


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Attached Images
2.jpg (19.8 K B, 11 views)

Last edited b y 60minutem an; 11-10-2010 at 11:28 PM.

11-10-2010, 09:28 PM

60minuteman
Se nior Memb er

#3
Join Date : N ov 2 010
Posts: 157


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STOP LOSS
for your sl you use the top line (or bottom when going long) of your s&d zone

TARGET
upto you, i tend to take profit as price moves towards minor s/r zones, but this area im experimenting with, and hopefully we can
explore some ideas as this thread grows.... or dies...lol

11-10-2010, 09:32 PM

60minuteman
Se nior Memb er

#4
Join Date : N ov 2 010
Posts: 157

ok, now youre saying... thats only 1 system... yes i know.... the others will come.... soon
fir st lets see if we can make this a winning system....
I promise to post all my trades here that use this system, i will not cherry pick... i dont need anyone to think im a great trader, i
need to be one....
any support is greatly appreciated...

11-10-2010, 09:53 PM

60minuteman
Se nior Memb er

ok just to get the ball rolling, he re is the first trade i ever took using this system.... and its a che rry (if i was going to pick 1lol)
my sd zones were set on the daily (by the way this works on any tf)
i entered on the first touch of the s&d zone....
result +428

#5
Join Date: N ov 2010
Posts: 157


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Attached Images
3.jpg (16.4 K B, 10 views)

Last edited b y 60minutem an; 11-10-2010 at 11:29 PM.

11-10-2010, 10:02 PM

#6
Join Date: Oct 2010
Locat ion: España
Posts: 5 7

20pips

Memb er

Nice, I wondered what supply/demand zones were. I sometimes trade something similar but use a line, MA or PA bar, often missing
the trade because it didn't quite reach the trigger point or look right, I quite like the zone idea.
Last edited b y 20pips; 11-10-2 010 at 10:04 PM.

11-10-2010, 10:08 PM

60minuteman
Se nior Memb er

here is my Eu trades from today, 2 longs BE and +118

#7
Join Date: N ov 2010
Posts: 157


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Attached Images
4.jpg (17.5 K B, 11 views)

Last edited b y 60minutem an; 11-10-2010 at 11:30 PM.


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11-10-2010, 10:24 PM

60minuteman
Se nior Memb er

gu long from today, from now on i will post entries and then results, just wanted you to get a visual idea of what im talking about

#8
Join Date: N ov 2010
Posts: 157


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Attached Images
5.jpg (12.8 K B, 10 views)

Last edited b y 60minutem an; 11-11-2010 at 09:56 AM.

11-10-2010, 11:38 PM

#9
Join Date : N ov 2 010
Posts: 157

60minuteman
Se nior Memb er

ok, important point here, that i never mentioned...
when you look back from price now, to find a relevent supply and demand zone, you never cut through candles.... never!... dont
forget!

11-10-2010, 11:54 PM

#10
Join Date: Oct 2010
Posts: 3 4

franci s galvin
Memb er

best of luck with it
subscribing

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11-11-2010, 09:49 AM

60minuteman
S enior Mem ber

#11
Join Date: N ov 2 010
Posts: 157

ok heres my entry into gu short, ive marked my sd zones, see how i put my stop just above the outer zone..... good job, came real close to sl... went
to +40 and i have taken ha lf profit there...
see how it has paused he re.... well if you look left from price you can see a minor s/d zone (good place to set tp's) how do we know it is a minor sd
zone...
because it is rally base rally....


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Last edit ed b y 60m inute man; 11-1 1-2010 at 09:51 A M.

11-11-2010, 11:00 AM

bushpippen
Ju nior Mem ber

#12
Join Date: N ov 2 010
Posts: 1

Good stuff 60mm,ill be following your journal and all the best to you,may you become a good trader in no time!!

11-11-2010, 11:53 AM

60minuteman
S enior Mem ber

#13
Join Date: N ov 2 010
Posts: 157

thanks Bp... are you still steadily increasing your account? really enjoyed your thread when i was starting out

11-11-2010, 04:12 PM

RMSTrader

#14
Join Date: Oct 2010
Locat ion: A ustin, TX
Posts: 47

Memb er

Fantastic thread 60mm! Looking forward to following your progress.
I'm conservative. I look for CBL entries only, but your method will hopefully help me pinpoint those higher probability pairs to
trade.
Thanks for sharing on this thread. It is a little tedious for me to follow stuff in the chat room....

11-12-2010, 09:12 AM

60minuteman

#15
Join Date: N ov 2010
Posts: 157


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S enior Mem ber

ok Gu trade...
this is exactly what you need to look for if you want to trade this system, the entry meets all the criteria, with bette r management i could of won more
pips for sure, but im happy with 173.... how many of these do you need a week to win in forex?


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11-12-2010, 11:09 AM

#16
Join Date: Oct 2010
Locat ion: Lithuania
Posts: 8
Se nd a message via Skyp e™ t o Rokas

Rokas
Ju nior Me mb er

Hi 60 very interesting thr ead. I never thought that you were that risky

If you don’t mind I have couple questions…

1. You wrote to never ever cut thr ough candles, but to place a zone you would ne ed to cut at least through wicks, so maybe no
cutting of the the body? In your recent gu trade you cut both wick and body. And if its possible maybe you could write your reason
for picking lower le vel of the zone.
2. What difference do you see with putting one big lot and putting 2 lots at different time? I always though of multi lots as a way
of increasing BE levels and increasing R:R ratio by reducing risk. But you don’t reduce risk after a trade, you increase it a lot. And
why second lot was twice as big as first one?
3. What do you think of not letting a winne r tur n into a big loser?
4. As you said before putting a single line and hope that price will turn at that point is just too optimistic so a zone is a superior
thing to do, but isn’t it a same thing as putting a limit order at start of the zone?
5. Do you trade with a trend?
Well that’s more than couple que stions…
to be written trading plan…

I am really happy to see anothe r person writing a thread that is very similar to my yet

11-12-2010, 02:24 PM

#17
Join Dat e: No v 2010
Posts: 157

60minuteman
S enior Mem ber

have a look at this rokas...
Quote:

Originally Posted by Rokas

Hi 60 very interesting thread. I ne ver thought that you were that risky

If you don’t mind I have couple questions…


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1. You wrote to never ever cut through candles, but to place a zone you would need to cut at least through wicks, so maybe no cutting of the
the body? In your recent gu trade you cut both wick and body. And if its possible maybe you could write your reason for picking lower level of
the zone .
have a look at this rokas, i dont think i explained it very well


/>

/>
2. What difference do you see with putting one big lot and putting 2 lots at different time? I always though of multi lots as a way of increasing
BE levels and increasing R:R ratio by reducing risk. But you don’t reduce risk after a trade, you increase it a lot. And why second lot was twice
as big as first one?
both lots were the same size, but i took half off the first lot whe n i was r/r 1/1..
i havent worked out the best way to manage these trades rokas, i need some help from someone like grav or ty men, but clearly if you get that
bit right also these can be very big winner s

3. What do you think of not letting a winner tur n into a big loser?
obviously thats not good, but whatever you do, you need to make sure that you give your trades a chance to go to their potential, because
then you only need to be right 50% of the time.. again it is a trade management issue , im trying to learn!

4. As you said before putting a single line and hope that price will turn at that point is just too optimistic so a zone is a superior thing to do, but
isn’t it a same thing as putting a limit order at start of the zone ?
sure and i do use limit orders at lines to enter in this system sometimes, the zone s just give you a visualization of the area where supply and
demand were imbalanced before, therefore it is highly probable that the se conditions will be true ne xt time... cant guasrantee it, but if you

were right 50% of the time you would make money

5. Do you tr ade with a trend?
i pay no interest in trend at all... he re's why... why do most novice traders lose mone y in forex... because they buy after a sustaine d period of
buying and they sell after a susta ined period of selling... for a trand to exist (according to the rules) you need 3 touches of that trend line...
why do you want to get in now...? the basis of this system is that you are trading the way institutional and bank traders trade, taking the
money from the novice trader..
have a look at the trades i have posted, see how price will often make a last surge up before turning down in our s/d zone.... who do you think
is entering with the trend here?... yes , novice tr aders

Well that’s more than couple questions…
trading plan…

11-12-2010, 03:33 PM

60minuteman
S enior Mem ber

I am really happy to see another person wr iting a thread that is very similar to my yet to be written

#18
Join Date: N ov 2 010
Posts: 157


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Week su mmary

eu long -40
eu long +118

gu long +102
eu long -70
gu short +132
gj short +112
gj short again... still open
Total so far = +354
ok, last trade for gj stopped out -35
total = +319
Last edit ed b y 60m inute man; 11-1 2-2010 at 03:49 PM.

11-12-2010, 06:21 PM

Rokas
Ju nior Me mb er

#19
Join Date: Oct 2010
Locat ion: Lithuania
Posts: 8
Se nd a message via Skyp e™ t o Rokas

Great weekly results CONGRATS
Little more niewbie ideas…
If you look at 1 s/d zone in 1h tf it looks good and tradable but if you take a look at 4h its just a drop base drop and the second
zone is rally base drop a very good zone visually the only problem from taking short from 4h would be the point that PA hasn’t
moved a lot from that point in time. The TP points are roughly the same from 1h and 4h so the time trade reache s its goal is the
same. If you look at daily both (1,2) s/d zones has little/no value, on the other hand 1,6300 looks as superb s/d zone on most
lower TF. So wouldn’t it be a confluence of timeframes? (How stupid does it sound). Any way my point is shouldn’t strength of s/d
zone (s/r line) depend on the TF it wa s drawn?
For the trend part I was referring to higher TF tr end, like the 4h trend for 1h or daily trend for 4h. Graviton wrote A LOT about

that subject.

11-12-2010, 10:18 PM

60minuteman

#20
Join Date: N ov 2 010
Posts: 157


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S enior Mem ber

Quote:

Originally Posted by Rokas
Great weekly results CONGRATS
Little more niewbie ideas…
If you look at 1 s/d zone in 1h tf it looks good and tradable but if you take a look at 4h its just a drop base drop and the
second zone is rally base drop a very good zone visually the only problem from taking short from 4h would be the point
that PA hasn’t moved a lot from that point in time. The TP points are roughly the same from 1h and 4h so the time trade
reaches its goal is the same. If you look at daily both (1,2) s/d zones has little/no value , on the other hand 1,6300 looks as
superb s/d zone on most lower TF. So wouldn’t it be a confluence of timeframes? (How stupid does it sound). Any way my
point is shouldn’t strength of s/d zone (s/r line) depend on the TF it was drawn?
For the trend part I was referring to higher TF trend, like the 4h trend for 1h or daily trend for 4h. Graviton wrote A LOT
about that subject.
ok, i will answer you with what i know Rokas, wether I am right or not I dont know...
you could have the sweetest looking entry on 1hr that fits all the rules, but on the daily it could be just the retrace of 1 candle....
does that mean you cant trade it? no.... you can trade it... supply and demand is taking place on all tf's.....

if you find a good s/d zone on the daily, im sure within that trade you could find 2 or 3 on the 4hr..... my e/chf short went 450
pips on 1hr tf, but there was a 90 pip retrace during that, and i bet if i had looked at the 15m tf there were trades long....
i always draw my zones on the same tf i take the trade on... i havent thought of say drawing the m on 4hr and entering on the
1hr.... im not sure how that would work?...
With regards finding a higher tf trend and say in a daily down trend only looking for shorts on the 4hr and 1hr ...
we would be missing the point!...
This system is built from the knowledge of how the big institutional traders trade...
if they know there is strong demand at 1.600 and it has been in a downtrend for a week... what are they going to do....?
well they know that all the big guns have already made the ir shorts, and they also know that novice traders usually enter after a
long period of selling or buy ing... so they will enter long anyway.... they make their money by transfering the funds from the
novice traders into their pockets...

Im probably not qualified to cover this really, but by sticking to the rules as i was told i am getting good results.... and sam was
very clear...


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you dont need trend lines, fibs or indicators and ignore the ne ws and expert advisors, just tr ade supply and demand as you see it
on your charts
the key to wining with this strat is to find strong s/d,

I can tell this has caught your imagination rokas, like it did me when i first encountered this way of trading.... i suggest you find
the key points on your charts over the weekend, make some notes, or set some alerts, and try taking some on demo ne xt week...
just remember dont go chasing your sl up behind price... it wont work... set your targets and if you make it, take profit, or just
close the trade.... tight stops does not work
Last edit ed b y 60m inute man; 11-1 2-2010 at 10:24 PM.

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11-13-2010, 03:19 AM

Display M odes

#21

Join Dat e: Oct 2010
Location: USA Mic higan
Posts: 38

Needy
Adminis trator

I too will be watching and testing, You've been doing well from we see here and on chat.

11-13-2010, 09:32 AM

60minuteman
Se nior Memb er

#22
Join Date : N ov 2 010
Posts: 157

thanks needy, from this week i will start posting my demo account balance too, so we can see if we can grow an account us ing this
system, and work out an optimum system for profit!

11-13-2010, 09:53 AM

#23