Trade what you see NOT what you expect | Page 55 | Forex Factory

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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 NOT what you expect

  • #1,081
  • Mar 5, 2009 10:05am Mar 5, 2009 10:05am
Quoting nyjetfan
I think it was post 1 where patience was listed as a requirement. I know I'm always itching to get into a trade, but its better to be out of a trade wishing you were in, instead of in a trade wishing you were out. Another trade will be along shortly, so even if you miss some, as long as you stick to the quality setups you'll be much better off in the long run.
your right there, iknow i'd much rather be out than in a trade wishing i was out.
please DON'T copy my trades I am still learning
  • #1,082
  • Mar 5, 2009 10:07am Mar 5, 2009 10:07am
Quoting nyjetfan
So my "EO user manual" tells me that close across 35/50EMA only gives reversal with a short wick. So was that correct to sit out going long on current candle?

Edit: Even though it looks like a winner now :-/
Post a chart for me if you would and point out what candles your referring too.
Just digging in the trenches like everyone else!
  • #1,083
  • Mar 5, 2009 10:07am Mar 5, 2009 10:07am
Quoting eohater


The trade was really easy to take, the resistance and the major spike was through the 15m 35/50. If she spikes that hard through, even if she closes that high, she's going to come back down to atleast touch the 15m 35/50 before continuing her journey. A positive exit is about 90% in my eyes. I've not done the math, but it works.
so you'd always jump in when it hits the resistance ?
please DON'T copy my trades I am still learning
  • #1,084
  • Mar 5, 2009 10:07am Mar 5, 2009 10:07am
Quoting eohater


The trade was really easy to take, the resistance and the major spike was through the 15m 35/50. If she spikes that hard through, even if she closes that high, she's going to come back down to atleast touch the 15m 35/50 before continuing her journey. A positive exit is about 90% in my eyes. I've not done the math, but it works.
Thanks EO, will be adding this one to the playbook
  • #1,085
  • Mar 5, 2009 10:08am Mar 5, 2009 10:08am
Quoting BenScoobert
Good morning EO and all

Today I will try to understand a little more about how you think, I have 4 hours until i go to bed early for a very important assesment at work tomorrow
Sounds like it's evening time for you Ben! I hope you have a good evening and learn something of value. Additionally, I hopey our assessment at work tomorrow goes good.
Just digging in the trenches like everyone else!
  • #1,086
  • Mar 5, 2009 10:09am Mar 5, 2009 10:09am
Quoting ezmystic
so you'd always jump in when it hits the resistance ?
wha tif there was no resistance, it just busts up thru the ma's?

questions
questions

sorry for all the questions
please DON'T copy my trades I am still learning
  • #1,087
  • Mar 5, 2009 10:10am Mar 5, 2009 10:10am
Quoting eohater
Sounds like it's evening time for you Ben! I hope you have a good evening and learn something of value. Additionally, I hopey our assessment at work tomorrow goes good.
Its 1609 here in the yookay

a £17k payrise rides on my next 3 assestments so no messing
  • #1,088
  • Mar 5, 2009 10:13am Mar 5, 2009 10:13am
Quoting BenScoobert
Its 1609 here in the yookay

a £17k payrise rides on my next 3 assestments so no messing
hey bud you don't want to mess that up then, but there old Gordo Brown will take half of that and prob more when our taxes go up eventually
please DON'T copy my trades I am still learning
  • #1,089
  • Mar 5, 2009 10:13am Mar 5, 2009 10:13am
Quoting eohater
Post a chart for me if you would and point out what candles your referring too.
Chart attached - talking about the candle above the arrow (red candle, closed below 35/50EMA which are green and purple) and pretty much right on 248EMA (which is appx 62H EMA value). Due to long wick, didn't take the 35/50 reversal move.
Attached Image (click to enlarge)
Click to Enlarge Name: eo question.gif Size: 28 KB
  • #1,090
  • Mar 5, 2009 10:16am Mar 5, 2009 10:16am
This chart of eo's trade
Attached Image (click to enlarge)
Click to Enlarge Name: EO 35 50 break trade.JPG Size: 201 KB
Good Trading To All ; Ken Lee
  • #1,091
  • Mar 5, 2009 10:16am Mar 5, 2009 10:16am
Quoting nyjetfan
Chart attached - talking about the candle above the arrow (red candle, closed below 35/50EMA which are green and purple) and pretty much right on 248EMA (which is appx 62H EMA value). Due to long wick, didn't take the 35/50 reversal move.
That is correct. Wick was too long to take a postion after the close alone. I did add to mine, but only because my original sell order was only half my normal position. Why only half? In case she went higher and closed up higher, soldiers were waiting for the continued battle to support the first group.
Just digging in the trenches like everyone else!
  • #1,092
  • Mar 5, 2009 10:17am Mar 5, 2009 10:17am
Quoting KENNETH lEE
This chart of eo's trade
EXACTLY!!!
Just digging in the trenches like everyone else!
  • #1,093
  • Mar 5, 2009 10:18am Mar 5, 2009 10:18am
Quoting eohater
That is correct. Wick was too long to take a postion after the close alone. I did add to mine, but only because my original sell order was only half my normal position. Why only half? In case she went higher and closed up higher, soldiers were waiting for the continued battle to support the first group.
EO - Now this might sound like crazy talk, but don't you think it'd be nice if everyone had the same colors for their MA's on their charts? Since its your thread, I think its only fair to let you pick the colors and the rest of us follow suit.

P.S. Are you and your twin colorblind? That's the only explanation I can come up with for the different colors on the charts since everything else is identical..
  • #1,094
  • Mar 5, 2009 10:25am Mar 5, 2009 10:25am
Quoting nyjetfan
EO - Now this might sound like crazy talk, but don't you think it'd be nice if everyone had the same colors for their MA's on their charts? Since its your thread, I think its only fair to let you pick the colors and the rest of us follow suit.

P.S. Are you and your twin colorblind? That's the only explanation I can come up with for the different colors on the charts since everything else is identical..
No, we're not color blind.

We talked yesterday about the colors and he's choosen which ones he wants, now I need to choose. Last night was a late night out (guys night out every Wed), so I didn't get a chance to get the rest of the colors done. I will get them done today during idle time.
Just digging in the trenches like everyone else!
  • #1,095
  • Mar 5, 2009 10:31am Mar 5, 2009 10:31am
I got long at 4077 expecting a rebound here, does anyone agree?
  • #1,096
  • Mar 5, 2009 10:33am Mar 5, 2009 10:33am
Quoting BenScoobert
I got long at 4077 expecting a rebound here, does anyone agree?
My magic 8 ball says "Ask again later!"

Actually, before I answer why do you EXPECT a rebound? We are working to trade what we SEE...

Not picking on you Ben, just trying to understand the thought process/rationale that went into this one.

Edit: Not saying I agree nor disagree with your assessment either, but so far it looks like a winner.
  • #1,097
  • Mar 5, 2009 10:37am Mar 5, 2009 10:37am
My thinking was........

We were well below the 50 and 62 H1 and i felt a rebound due to it LOOKING oversold in such a short time
  • #1,098
  • Mar 5, 2009 10:38am Mar 5, 2009 10:38am
IMHO....That area (4080) has served a S/R the last few days...but as we just broke down through ALL MA's , I will wait for a PA confirmation candle to go long.....we might also test last night lows as well....HOWEVER, I might of just missed an opportunity for some green pips...
  • #1,099
  • Mar 5, 2009 10:39am Mar 5, 2009 10:39am
Quoting BenScoobert
My thinking was........

We were well below the 50 and 62 H1 and i felt a rebound due to it LOOKING oversold in such a short time
Short term trade, it's a good trade, don't be afraid to TP some profit and get yourself covered after this 15m candle closes.

Overall, I'm thinking we could still be going up higher than 4200.
Just digging in the trenches like everyone else!
  • #1,100
  • Mar 5, 2009 10:39am Mar 5, 2009 10:39am
Quoting BenScoobert
My thinking was........

We were well below the 50 and 62 H1 and i felt a rebound due to it LOOKING oversold in such a short time
Good for you on those green pips....congrats !!!
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