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

  • #141
  • Dec 29, 2008 9:40am Dec 29, 2008 9:40am
Quoting Turtle
Thanks man, she's doing good, just getting an update!

So let's see how this London fix plays out!!! :nerd:

HOLLA
Good to hear!

Also, good job on the 4630 TP for your prior long. That's excellent!
Just digging in the trenches like everyone else!
  • #142
  • Dec 29, 2008 9:49am Dec 29, 2008 9:49am
Quoting eohater
Good to hear!

Also, good job on the 4630 TP for your prior long. That's excellent!
Thanks bro....

How was your weekend??

After our talk Friday about PO's, I now understand how your building positions and setting targets. After running some numbers on Saturday, I got another "ah-ha" moment.

Thanks for the talk bro..

HOLLA
  • #143
  • Dec 29, 2008 9:52am Dec 29, 2008 9:52am
Quoting Turtle
Thanks bro....

How was your weekend??

After our talk Friday about PO's, I now understand how your building positions and setting targets. After running some numbers on Saturday, I got another "ah-ha" moment.

Thanks for the talk bro..

HOLLA
My weekend was good! Sunday was probably the best, we were able to stay home and not drag the kids around. They had an opportunity to enjoy!

The "ah-ha" moments are the best! I love it!

BTW: I pulled the trigger for a long at 4575. Might be early, but I'll add to her if need be!
Just digging in the trenches like everyone else!
  • #144
  • Dec 29, 2008 9:54am Dec 29, 2008 9:54am
Quoting Turtle
Thanks bro....

How was your weekend??

After our talk Friday about PO's, I now understand how your building positions and setting targets. After running some numbers on Saturday, I got another "ah-ha" moment.

Thanks for the talk bro..

HOLLA
How was your weekend? Sorry, we didn't get a chance to hook up last night, the wife still wanted HS and I came back and your wife was calling for you. (Hopefully for the same reason).
Just digging in the trenches like everyone else!
  • #145
  • Dec 29, 2008 10:07am Dec 29, 2008 10:07am
Quoting eohater
How was your weekend? Sorry, we didn't get a chance to hook up last night, the wife still wanted HS and I came back and your wife was calling for you. (Hopefully for the same reason).
You got it right....the same reason. LMAO

Nice long entry.....


Weekend was good, took the boys to a hockey game, sat right behind the penalty box. Our team lost 6-4, but they won the four fights that they had on the ice. Had a family get together Saturday and chilled out Sunday.

One thing you were right about is maybe I need to find somewhere to go, so I can trade. Get disturbed too many times these last couple of weeks and missing setups left and right.

HOLLA
  • #146
  • Dec 29, 2008 6:23pm Dec 29, 2008 6:23pm
Bro.......

How did you do this afternoon???

Man, I missed all the action. Have to figure out how to trade when the kids are home.

Picked up some pips in the Asian session, and made quota for the day!

Will get some sleep and come back ready for NY! :nerd:

HOLLA
  • #147
  • Dec 30, 2008 12:25pm Dec 30, 2008 12:25pm
Quoting Turtle
Bro.......

How did you do this afternoon???

Man, I missed all the action. Have to figure out how to trade when the kids are home.

Picked up some pips in the Asian session, and made quota for the day!

Will get some sleep and come back ready for NY! :nerd:

HOLLA
Hey brother! Yesterday was a good day for me. My best trade would of been the 1h 62ema short that I took. I should have held it to the bottom, but I took other trades playing the movement and they were all green, so no worries. I'm sure you took the same long as me at 1.44. I had my tp at 1.45 and she got hit in a hurry, didn't see it going there that fast. Took a nice short this morning from 1.4510 and closed out at 1.44 and went back long to 1.4430. Now, I'm on the sides.

Glad to hear you made quota already for the day. It's always great to hit your quota before the day even starts.
Just digging in the trenches like everyone else!
  • #148
  • Dec 30, 2008 1:54pm Dec 30, 2008 1:54pm
Quoting eohater
Hey brother! Yesterday was a good day for me. My best trade would of been the 1h 62ema short that I took. I should have held it to the bottom, but I took other trades playing the movement and they were all green, so no worries. I'm sure you took the same long as me at 1.44. I had my tp at 1.45 and she got hit in a hurry, didn't see it going there that fast. Took a nice short this morning from 1.4510 and closed out at 1.44 and went back long to 1.4430. Now, I'm on the sides.

Glad to hear you made quota already for the day. It's always great to...
Bro...miss two setups this morning.
1. That short @ 4510 around 8:00am this morning.
2. That long @ 4430 around 9:00am this morning.

Went short @ 4456 @ 9:15am, then added at 4495.

Took profit on both around 4450, left some lots on that 4495 and got it lock at +2. Kids needed to get out of the house, so I'll be glad when school starts next week.

Also made quota for today and requested my monthly funds from my broker.

I made the same as last month and I still miss some great entries.

I'm so ready to party at the beach.....got three fatty's ready for the trip!

Goal for next month is to move up to $4.00 per pip, like you said and also increase my take home pay.

Hope you are enjoying your day.

Nice trades you had today!!

HOLLA
  • #149
  • Dec 30, 2008 2:42pm Dec 30, 2008 2:42pm
hi everyone, when you say “$4 per pip” it has something to do with leverage level? I’d like to know more about it. Usually, when I’m opening new orders I select the smaller level of volume. Is this what you guys are talking about? Kevin
  • #150
  • Dec 30, 2008 2:52pm Dec 30, 2008 2:52pm
Quoting murpheytrade
hi everyone, when you say “$4 per pip” it has something to do with leverage level? I’d like to know more about it. Usually, when I’m opening new orders I select the smaller level of volume. Is this what you guys are talking about? Kevin
This is in reference to lot sizes. On a Standard account, one standard lot is 1 pip = $10. On a mini account, one mini lot is 1 pip = $1. On a micro account, one micro lot is 1 pip = $0.10. Turtle is moving his lot size to 4 mini lots per trade. As your account grows, your your lot size should grow with it. This is compounding your returns. The goal for Turtle, I'm sure, is to get to 6-8 standard lots/trade. Which would mean each pip would be worth $60-$80 respectively. I hope this makes sense.

Trade well!
EO
Just digging in the trenches like everyone else!
  • #151
  • Dec 30, 2008 2:55pm Dec 30, 2008 2:55pm
Quoting eohater
This is in reference to lot sizes. On a Standard account, one standard lot is 1 pip = $10. On a mini account, one mini lot is 1 pip = $1. On a micro account, one micro lot is 1 pip = $0.10. Turtle is moving his lot size to 4 mini lots per trade. As your account grows, your your lot size should grow with it. This is compounding your returns. The goal for Turtle, I'm sure, is to get to 6-8 standard lots/trade. Which would mean each pip would be worth $60-$80 respectively. I hope this makes sense.

Trade well!
EO
You are correct EO, that is one of my goals for the future!!!

HOLLA
  • #152
  • Dec 30, 2008 3:03pm Dec 30, 2008 3:03pm
Quoting Turtle
You are correct EO, that is one of my goals for the future!!!

HOLLA
That is an excellent goal! I'm still having challenges moving to 8 at a time. I don't have a problem scaling into a position with 8, but I do have a problem pulling the initial trigger on 8 at once. I'm sure I'll overcome it eventually. Right now though, $60-$80 pips are fine for me!
Just digging in the trenches like everyone else!
  • #153
  • Dec 30, 2008 3:06pm Dec 30, 2008 3:06pm
Quoting eohater
That is an excellent goal! I'm still having challenges moving to 8 at a time. I don't have a problem scaling into a position with 8, but I do have a problem pulling the initial trigger on 8 at once. I'm sure I'll overcome it eventually. Right now though, $60-$80 pips are fine for me!

Yep, it's all in our head, and once we get past it we say to ourselves why didn't we do it sooner!!

HOLLA
  • #154
  • Dec 30, 2008 3:13pm Dec 30, 2008 3:13pm
Quoting Turtle
Yep, it's all in our head, and once we get past it we say to ourselves why didn't we do it sooner!!

HOLLA
Exactly! It's all in our head! We'll get thru it though!
Just digging in the trenches like everyone else!
  • #155
  • Dec 30, 2008 3:15pm Dec 30, 2008 3:15pm
Quoting eohater
Exactly! It's all in our head! We'll get thru it though!
We always do....

That's why I constantly work on my mindset!!!

HOLLA
  • #156
  • Dec 30, 2008 3:19pm Dec 30, 2008 3:19pm
Quoting Turtle
We always do....

That's why I constantly work on my mindset!!!

HOLLA

Mindset exercises! Get your mind ready for the battle and it's easy! Just like anything else, visualize then perform! I need to do this! Why the hell am I not doing this? I do it on sports, why not trading! Hmmm...you got me thinking brother!
Just digging in the trenches like everyone else!
  • #157
  • Dec 30, 2008 3:24pm Dec 30, 2008 3:24pm
Quoting eohater
Mindset exercises! Get your mind ready for the battle and it's easy! Just like anything else, visualize then perform! I need to do this! Why the hell am I not doing this? I do it on sports, why not trading! Hmmm...you got me thinking brother!
That's what got me started, been doing meditation on a daily basis since June, it has help me alot.

HOLLA
  • #158
  • Dec 30, 2008 3:35pm Dec 30, 2008 3:35pm
Just finished reading all your journal and i like the way you trade EO I added a few ema's to my arsenal as well and they work really well. I trade divergence with low timeframes and love HD div alot, as you can see some trades in my journal with HD divergence present and the action taken from 50 ema. 50 ema - discovered just not long ago, but shes great

I hope to learn more while we keep trading in 2009

Your welcome to pop in my trading journal anytime buddy. Cheers!
  • #159
  • Dec 30, 2008 3:38pm Dec 30, 2008 3:38pm
Quoting belekas
Just finished reading all your journal and i like the way you trade EO I added a few ema's to my arsenal as well and they work really well. I trade divergence with low timeframes and love HD div alot, as you can see some trades in my journal with HD divergence present and the action taken from 50 ema. 50 ema - discovered just not long ago, but shes great

I hope to learn more while we keep trading in 2009

Your welcome to pop in my trading journal anytime buddy. Cheers!
I'm glad you like the journal! It's still a work in progress, I'm pulled so many ways that it keeps me from adding to it the way I would like to. I'm hoping that 2009 will allow me some more time.

The 50 ema is most definately a beauty! I like it, almost as much as the 1h 62ema.

I'll definately check out your journal. Thanks for stopping by and please feel free to share anytime!

Trade well!
EO
Just digging in the trenches like everyone else!
  • #160
  • Dec 30, 2008 10:15pm Dec 30, 2008 10:15pm
I've been using your setup strategy to the best of my ability over my last few trades. I have been rather pleased, though I am still having some rookie issues with psychology. I am trying to learn not to rush my trades, which happened last night and caused me quite a bit of frustration. I opened a short at what was supposed to be 4500, but got filled at 4490. I was supposed to wait for 4510, so I jumped early. The price then peaked around 4540, which was really close to my default SL of 50 pips, which I manually dropped(oh foolish me).

As the price started to drop again, after a couple hours, I opened another trade short on the EJ, which went higher a bit, before the worst happened. As I saw my Cable trade go towards BE, but not quite make it, my internet connection dropped out. I was up almost 5 hours watching CNBC for a glimpse of the Cable quote to reassure me. I watched 50 pips go by here and there and knew the EMAs were at work and even though I was upside right in the trade, knew I was missing opportunities. At one point I was up almost 100 pips and wish I could have closed the trade or at least set a reasonable SL, because I feared it would turn back north and go from profitable to a run away loss.

Long story shortened, finally got internet back this morning and found my TP had been hit, just a couple pips from the low and my EJ trade was at +75 just a few minutes before NY close. So it was an anxious way to get a total of 180 pips(including an earlier play that I closed a bit late for +11, which should have been +30), but this time it worked out. Moral of the story, Wait for your entry target(the very most important lesson) and always set a SL.

Sorry for the long-winded post, but I wanted to share with someone who understands. My wife just rolls her eyes and I can tell she's not listening. It's just not her thing. At least she is getting the picture though. She invested in this venture for Christmas by getting me a laptop, a couple forex books, and dedicating some cash for the account. I'm not going to use it just yet, still practicing. At least I'm profitable and using the markets money for the last week. Now to hold on to those pips and add on! Here's to a new year of successful trading!
therealisttruest (FF wouldn't let me put my full ID because of length)
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