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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

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Trade What You See And Not What You Hope 0 replies

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Trade what you see NOT what you expect

The Euro entry was also at the 50fib taken from the low of 1.2288 to the recent high- Aussie similarly at 38.2 fib
There is no top. There are always further heights to reach. Jascha Heifetz
Got bored with Eurusd trade - going nowhere, so closed out +5 after that last 1hr close that wasn't great for bulls (tweezer tops) and failed to break 1hr 50 sma. Will leave it now till after US open as there's no volume.
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There is no top. There are always further heights to reach. Jascha Heifetz
Back from lunch and see I was stopped out on the Aussie- I think the maket needs to "rev" up a bit, as Trotty would say- sometimes the first entry can get you stopped out, and admittedly, it was an an aggressive entry but it now looks ready to go with that pin through the 1hr62/50ema
There is no top. There are always further heights to reach. Jascha Heifetz
And there you go..
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There is no top. There are always further heights to reach. Jascha Heifetz
The market gave a second chance entry on Aussie after the tweezer bottoms at the weekly pivot- iit 's also an inverted quasimodo pattern. I entered on the retrace down the tweezers at 28 , and taken 15 pips out here, having seen the long upper wick on the penultimate candle pin thingy with SL to BE already
There is no top. There are always further heights to reach. Jascha Heifetz
forgot chart
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There is no top. There are always further heights to reach. Jascha Heifetz
Taking another portion off here as a precaution +25pips, as we haven't closed above the wick 7 candles back
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There is no top. There are always further heights to reach. Jascha Heifetz
Quoting Trader131
Taking another portion off here as a precaution +25pips, as we haven't closed above the wick 7 candles back
Pretty slow day after the opening london shift mate.
Yes, bit of a grind to make the pips today, with London closed. Was stopped out BE on that last portion. Tempted to try another long here, after the last hourly close (inverted hangman) on 1hr 62, but don't think there'll be much movement now.
There is no top. There are always further heights to reach. Jascha Heifetz
Quoting Trader131
Yes, bit of a grind to make the pips today, with London closed. Was stopped out BE on that last portion. Tempted to try another long here, after the last hourly close (inverted hangman) on 1hr 62, but don't think there'll be much movement now.
Yeah 15min au looking a bit lackluster as well to me, H4 looks bearish on my feed also.
Yes, but in hindsight, it would have been worth 20pips so far...and may go much farther. Oh well, never mind. Better not to overtrade- I'm only tempted because I'm off to London for the rest of the week tomorrow- and that is not a reason to trade!
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There is no top. There are always further heights to reach. Jascha Heifetz
Bollocks.. I hate it when that happens! Good trading this week, guys, green pips!
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There is no top. There are always further heights to reach. Jascha Heifetz
Hello everyone. I haven't gone through the thread for the past week or so but wanted to post my trade for today.

Entered here at 40 on the rejection bar through the 15M 10/50EMA. Stops at 60 just above the high of that bar.

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There was quite a bit of sideways movement throughout the morning until now. Moved stops to B/E here. 1st target at 13 at the previous lows from earlier this morning.

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1/2 off here. 2nd target currently way down at 9865 base on Daily S/R levels. I may adjust that if the movement doesn't last.

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I hope that everyone is having a good day.
Closed the remaining 1/2 of my AU short here at 9893. +35 on the entire trade for today.

Reasons for closing out instead of holding:

 

  1. US Market closed and approaching "end" of the FX day at 5:00 PM ET so generally no volume.
  2. At the 1H 50 SMA and previous 1H S/R level from earlier this morning
  3. At the top of the 4H S/R range
  4. If the downward movement continues, it is likely that we will see a sideways/slightly upward corrective phase until the next market driver occurs. (AU news @ 9:30PM ET may be just the thing.) This could present an opportunity to reenter at a better price.

Keeping in line with the title of this thread, I'm not necessarily expecting anything to happen one way or the other, just pointing out possibilities. It has helped me to revisit this concept and just trade what I see instead of creating all sorts of biases in my head on why something should or shouldn't happen.

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Nice trading Dharma.

Here is one that burned me this morning. (Criticism always welcome)

I only had about an hour and a half to trade, so I took this pin on GU 15 minute. It was just under some nice Daily resistance from March, at 5600 (round number), and price was around it's average daily range so I didn't see it going much higher. I got filled at a nice price of 5580 on the candle after the pin. It was just over an hour until Big Ben took the mic. I was in a very small profit when the hourly closed, giving a great pin on the hourly as well.

Moved the stop above the wick of the 1 hour pin, and was planning on entering again if price retraced up the wick which it so often does. Price then shot up fairly fast at the open of the U.S. stock market, and stopped me out.

I had to go to work, but price ended up making an even better pin on the hourly, this time touching the daily resistance, and I would have entered again had I been here. In hindsight, I would have used a wider stop, only for the fact that the daily resistance at 5600 was 8 pips above the first 1 hour wick so I should have put my stop above that.. ~5610. I have said before that I much prefer trading away from the MA's than taking countertrend trades towards them, and this is an example why. However this was a nice setup, and had I used better judgement it would have been a nice winner.

Cheers!
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Cap
Quoting The Captain
I only had about an hour and a half to trade, so I took this pin on GU 15 minute. It was just under some nice Daily resistance from March, at 5600 (round number), and price was around it's average daily range so I didn't see it going much higher. I got filled at a nice price of 5580 on the candle after the pin. It was just over an hour until Big Ben took the mic. I was in a very small profit when the hourly closed, giving a great pin on the hourly as well.

Moved the stop above the wick of the 1 hour pin, and was planning on entering again if...
This was a nice looking setup and as you said it ended up giving a couple more signals on the hourly with the pin and then hanging man. Trying to trade with a hard stop time constraint such as work is tough as you may be tempted to force a trade to conform to your schedule.

A stop above the S/R level at 5600 makes sense but does it make sense when you look at your risk:reward? With your entry at 80 and stop above the first hourly pin at around 95 you could have easily had a 1:2 R:R and have set a target at 50. If you were to bump your stop up to 5610 which is effectively a doubling of your stop, to get the same 1:2 you'd need to have price get down to 20, which it did eventually do only after first coming all the way back up to your entry price at 80.

So, what's my point from this... The same trade taken with a tight stop may not make sense if you need a bigger stop. An alternative may have been to set a PO near the 5600 level since the GU seems to like to touch all S/R levels in the area before proceeding. You then could have possibly still maintained your tight stop. This of course is being stated in hindsight.

I'll be continuing to post my trades as well and any comments are appreciated.
Potential long on the AU shaping up here.

 

  1. 5M "Character" of the candles potentially shifted from impulse down/corrective up to impulse up/corrective down
  2. 15M DBLHC at Daily S1
  3. 1H pin may close in 5 min
  4. 4H still in the S/R zone from the end of May

Possible long entry down the wick of the 1H pin (if it closes as a pin). Let's see how this progresses shall we?


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Quoting DharmaTrader
This was a nice looking setup and as you said it ended up giving a couple more signals on the hourly with the pin and then hanging man. Trying to trade with a hard stop time constraint such as work is tough as you may be tempted to force a trade to conform to your schedule.

A stop above the S/R level at 5600 makes sense but does it make sense when you look at your risk:reward? With your entry at 80 and stop above the first hourly pin at around 95 you could have easily had a 1:2 R:R and have set a target at 50. If you were to bump your stop...
Thanks. TP would have been 5500 and I would have let her run so no issues with the R:R there. Did you take your Aussie trade? Looking good so far, but big news out in 15 so careful.
Cap
Quoting The Captain
Thanks. TP would have been 5500 and I would have let her run so no issues with the R:R there. Did you take your Aussie trade? Looking good so far, but big news out in 15 so careful.
No, didn't take it although an entry right at the DBLHC would have yielded a nice 20. I was looking for a retracement down the wick of the 1H pin which may be under way now. The thing is, as we get closer to London open I worry about another push lower before anything happens and I'll be asleep.

I suppose that I could take my hindsight advice from above and use a PO but there's not enough confluence at this level for me to be comfortable with that. So, I'll either get a good entry before bed and be able to take some off and cover or just treat this as an exercise in identifying a trade as it is happening.
Nice looking pin on 1 hr g/u, looking to get in on price action from 15 min somewhere in the wick for a long . Comments welcome.

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Off of a trend line and previous price action from 1 hr and 4 hr, will take partial and cover at 200 ma on 1 hr, if I get the entry that is.

Just posting charts to learn, any criticism of the setup is welcome.

EDIT: Never got a signal to long on 15 min, next hourly closed below wick of hammer, so not trading until I see another set up.
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