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Why did you start trading and what do you expect from it? 19 replies

How soon after you put on a trade do you expect to be "in the money"? 28 replies

How do you see trading - Do you see it as a means to an end? 12 replies

Trade What You See And Not What You Hope 0 replies

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Trade what you see NOT what you expect

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  • First Post: Edited Mar 26, 2010 10:47am Oct 31, 2008 9:13pm | Edited Mar 26, 2010 10:47am
Trade what you see and NOT what you expect is my first thought before entering a trade. This mentality has helped me trade the market for what it is. We don't know where it's going, only where it's been. I use key setups and take trades without any emotion attached.

I trade only the GBP/USD and primarily during the US Session, she (I refer to the GBP/USD as she) provides enough opportunties that I don't need to worry about the other currency pairs. I don't worry about the fundamental side of trading, trading itself is emotional enough. I don't hold the holy grail, and noone does. I agree with trading with the trend but I will go against it if the setup is right. Entry is key and that's what I look for. One doesn't have to be in a trade all the time to make money, you only need to be in a trade at the right time. Many traders see it moving and jump in the direction it's moving and next thing they know, their down. I'm not afraid to walk away and wait for another setup if I've missed the boat. There is always another opportunity. Patience is key in this industry. If you don't have any, GET IT.

I will be posting my chart setups and what I look for in the upcoming posts.

Please feel free to post questions and insights.

Best of luck to everyone trading!

EO

PDF ATTACHMENT HAS BEEN ADDED HERE, REVISIONS TO THIS PDF WILL BE POSTED HERE AS WELL. This PDF complies the thread and changes that have occurred. I recommend you download this and any revisions that will occur in the future. I would like to thank NYJETFAN for taking the time to compile this data.
Attached Files
File Type: pdf trade what you see-1400.pdf   1.9 MB | 43,448 downloads | Uploaded Mar 13, 2009 10:28am
File Type: zip Trade What You See.zip   2.5 MB | 127,117 downloads | Uploaded Jan 12, 2010 10:39am
File Type: pdf Miscellaneous EO and Infinity Posts Part 1.pdf   1.9 MB | 9,723 downloads | Uploaded Mar 19, 2010 1:57am
File Type: pdf Miscellaneous EO and Infinity Posts Part 2.pdf   1.8 MB | 7,664 downloads | Uploaded Mar 19, 2010 1:57am
File Type: doc Intraday Trading Worksheet.doc   5 KB | 7,637 downloads | Uploaded Mar 19, 2010 1:57am
File Type: pdf F.A.Q.pdf   44 KB | 7,202 downloads | Uploaded Mar 26, 2010 10:47am
Just digging in the trenches like everyone else!
I have a question.

If I can "see it" then it's already history. My Borker won't allow me to trade history.

So how can I trade what I see?

Do you "see" what I mean?
Polishing my crystal ball
Glad you started a thread.

I totally understand your thought process.....

Keep up the excellent work!!!!

HOLLA
I am intersting all what you see.. am waiting your next post..
I like it "Entry is key and that's what I look for"
Never sell @ lower upward channel unless breacked and vise versa .
Dude,

Keep ur trade ideas and set up coming...

Sonic
Great,

Glad you started this thread eo, Ive been waiting for it.........
.
Quoting 30XTCi
I have a question.

If I can \"see it\" then it's already history. My Borker won't allow me to trade history.

So how can I trade what I see?

Do you \"see\" what I mean?
I understand what your saying, and noone has a time machine to see the future. Sometimes we get a certain direction or price level in our head that it's going to and we are not willing to see where she's actually going. I have certain setups that I look for and trade the setups. I don't try and predict where she's going, I only trade the setups and put the 'trend' to the side. For example, the overall trend might be down, but she still moves up while moving down. The key to trading I've found is all about entry. If you get a good entry, then you don't need to worry about other factors. Secure your position in profit and manage the trade. Please understand this is intraday trading, not swing or position style trading. I hope my coming posts will help you see what I see and what I look for.
Just digging in the trenches like everyone else!
Here are the charts that I use and what I have applied to them.

15m:
10ema, 21ema, 35sma and 50sma

1h:
10sma, 50sma and 62ema

4h:
5sma, 10sma, 50ema and 150ema

Day;
5sma, 35sma and 50ema

Please note, the charts have different types of MA's applied to them. Some are EMA's and some are SMA's. MA's are nothing more than floating support/resistance. I use them for balance points and price targets for profit taking.
Just digging in the trenches like everyone else!
Quoting eohater
I understand what your saying, and noone has a time machine to see the future. Sometimes we get a certain direction or price level in our head that it's going to and we are not willing to see where she's actually going. I have certain setups that I look for and trade the setups. I don't try and predict where she's going, I only trade the setups and put the 'trend' to the side. For example, the overall trend might be down, but she still moves up while moving down. The key to trading I've found is all about entry. If you get a good entry, then you don't need to worry about other factors. Secure your position in profit and manage the trade. Please understand this is intraday trading, not swing or...
I'm looking forward to it.Anybody that can hit their weekly target of 1000 pips ( often by Wednesday) trading $60 per pip, get's my attention.
Polishing my crystal ball
I enter most of my trades off the 15m chart while keeping the higher time frame charts in my eye. 90% of the time, I enter a trade once the new 15m candle opens and the one closes that I'm looking for. Don't try and be preemptive here. Let the 15m chart tell you when it's time to enter.

Here are some examples of when I will not wait for the 15m candle to close and a new one to open:

A fresh touch of the 1h 62ema. If she hasn't touched the 1h 62ema in a while, I will enter the trade opposite of the direction she came from when she gets to the 1h 62ema. Let's say price is running and it's ran 150pips North to the 1h 62ema, I will go short with the price of the 1h 62ema. This is really nice when the 50sma and 62ema are on top of each other, there is no hesitation in the order, I'll either set the pending order and let it take me into market or pull the trigger on the order.

Another example, straddle orders when price has consolidated on the 15m and all the ma's are lying together. I'll post a chart to show how this works. There are other options to this as well and we'll discuss those too.

There are other reasons I would enter a trade without waiting for the 15m candle to close/open, but I need to post charts to show what I mean.

Charts are next.
Just digging in the trenches like everyone else!
Quoting 30XTCi
I'm looking forward to it.Anybody that can hit their weekly target of 1000 pips ( often by Wednesday) trading $60 per pip, get's my attention.
So am I! Thank you! I didn't hit my goal until Friday this week. It's been a little nerve racking moving to 6 lots at a time. I thought it would be easier, but it's not.
Just digging in the trenches like everyone else!
Quoting eohater
So am I! Thank you! I didn't hit my goal until Friday this week. It's been a little nerve racking moving to 6 lots at a time. I thought it would be easier, but it's not.
Dude..what do u see on EJ or GJ next week??

Mine is here...

http://www.forexfactory.com/showthre...00#post2319800

u can post ur analysis there too..

Sonic
Quoting sonicdeejay
Dude..what do u see on EJ or GJ next week??

Mine is here...

http://www.forexfactory.com/showthre...00#post2319800

u can post ur analysis there too..

Sonic
I don't trade those pairs. Only Cable! Sorry! I'll take a look at them if you like, but I trade the movement so I doubt I can be of much help.
Just digging in the trenches like everyone else!
Quoting sonicdeejay
Dude..what do u see on EJ or GJ next week??

Mine is here...

http://www.forexfactory.com/showthre...00#post2319800

u can post ur analysis there too..

Sonic
Sonic,

I posted my analysis on EJ. I don't trade this pair so I'm not familiar with the movement and time of day factors like I am with Cable. If anyone is interest in it, I've posted it here:

http://www.forexfactory.com/showthre...=1#post2320181
Just digging in the trenches like everyone else!
Quoting eohater
Sonic,

I posted my analysis on EJ. I don't trade this pair so I'm not familiar with the movement and time of day factors like I am with Cable. If anyone is interest in it, I've posted it here:

http://www.forexfactory.com/showthre...=1#post2320181
NIce post on that EJ for Sonic!!!

Great learning material!

HOLLA
Just thought I'd swing by and wish you good luck for the coming week.Also congratulations on starting your first Thread. Your contribution to the Cable thread over the last 4 months is quite impressive, 1800 posts. I can only assume that you will be following the standard journal practice regarding posting entries and exits, stops and take profits. I'm not sure if you will be using pending orders or what, I suppose we will see as the week goes by.
Journals can be a great place to re-visit. After posting your trade to the boards, you can go back and edit, adding your thoughts on why you entered or exited where you did, and when keeping my own personal journal at home, I always took a screenshot of the trade and printed it out, so I always had a snapshot of what price was doing at that point in time. This is something that you may want to consider doing (the print screen)on each and every trade, not only do you have it to post here on your journal, but it acts like an insurance policy. If anybody at any time might want to clarify some point, you always have some hard evidence that the trade was as you said it was. Some people might get a bit muffed if you posted an entry like: Well I went long(or short) at XXXX and I've already locked in profit of 10 pips.If you posted something like that and It was posted an hour after you took the trade, you could just show them your print screen chart and then everything would be sweet.
Anyway there's nothing like a well kept good journal with clear entries and exits that keeps everybody on the same page.
Polishing my crystal ball
wow a new thread...
i will stick to it... and learn how things done by u, eohater...
lot's o' big fans of you is on the cable thread...
so i'll try to learn something new from this thread...
hope u don't mind teaching some weaklings like me
thx
Money management is good for your health...
Sorry guys for starting this thread and not adding to it since. I've pulled my back and I'm dealing with pain right now. I'm still trading, but not as much. It's painful to sit in front of the computer for too long. The back is getting better though and I expect to be back in the saddle again. I still have chart setups that I look for to get posted and other setups that I use. I will not be bailing on this thread. I just need to get better first.

Thank you to everyone and their support!

EO
Just digging in the trenches like everyone else!
Quoting eohater
Sorry guys for starting this thread and not adding to it since. I've pulled my back and I'm dealing with pain right now. I'm still trading, but not as much. It's painful to sit in front of the computer for too long. The back is getting better though and I expect to be back in the saddle again. I still have chart setups that I look for to get posted and other setups that I use. I will not be bailing on this thread. I just need to get better first.

Thank you to everyone and their support!

EO
No problem, totally understand.

Get healthy first......i know because I'm feeling a bit under the weather myself!

HOLLA
Quoting eohater
Sorry guys for starting this thread and not adding to it since. I've pulled my back and I'm dealing with pain right now. I'm still trading, but not as much. It's painful to sit in front of the computer for too long. The back is getting better though and I expect to be back in the saddle again. I still have chart setups that I look for to get posted and other setups that I use. I will not be bailing on this thread. I just need to get better first.

Thank you to everyone and their support!

EO
looking forward to your return
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