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Trade what you see NOT what you expect

  • #2,201
  • Mar 16, 2009 8:33am Mar 16, 2009 8:33am
Thanks EO. Nice to have a home from Home.

Quoting eohater
Welcome!

Thanks for coming by! Please stay as long as you'd like!
Ride the Bulls bearback!
  • #2,202
  • Mar 16, 2009 8:35am Mar 16, 2009 8:35am
Quoting alcando
Thanks EO. Nice to have a home from Home.
Cool bro! Hey, question outside of FOREX, do you know what English Mastiff's go for over there across the pond? They run around $2K USD here.
Just digging in the trenches like everyone else!
  • #2,203
  • Mar 16, 2009 8:38am Mar 16, 2009 8:38am
Quoting nyjetfan
Hey all, I'm interested to see if anyone has done any goal/target setting for their trading?...
Good morning to you and to ALL on this thread...
My goal is 100 pips a day...but I take any green pip that she gives me and the day I don't meet my goal...well...I smile and get ready for the next day.
Goal met for the day...so I am working on extra icing for the cake !!!
  • #2,204
  • Mar 16, 2009 8:43am Mar 16, 2009 8:43am
Here are my trades for today, the setups are in the red rectangles, entry is on the candle after the setups.

Setup 1 is printing a series of hammers, and the hammer with a green body, followed by a hammer with a black close, is a good probability trade for me.

Setup 2 is a hanging man and bounce/rejection off 10 EMA.

Setup 3 is a candlestick pattern known as bearish advance block. In the literature, the open is within the body of the previous candle, however, forex doesn't close and we're working with small timeframes, so we make the concession. The bearish advance block pattern signifies bulls losing strength, notice the bodies of each successive candle getting smaller and smaller.

Setup 4 is a hamer with a green body, and the wick touches/rejects the 21 EMA.

Setup 5 is a rejection of prevoius highs, a harami, and a tweezer top.
Attached Image (click to enlarge)
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  • #2,205
  • Mar 16, 2009 8:43am Mar 16, 2009 8:43am
Quoting rt4x
Good morning to you and to ALL on this thread...
My goal is 100 pips a day...but I take any green pip that she gives me and the day I don't meet my goal...well...I smile and get ready for the next day.
Goal met for the day...so I am working on extra icing for the cake !!!
Thank RT4x. That's pretty much my plan, my goal is to nail 50+ per day (I'm hoping to be closer to 100 like you) and then be able to continue seeing the slow and steady account growth that I desire.

Glad to hear you've made your pips already for today, I'm getting a late start so starting to look for a seat at this point.
  • #2,206
  • Mar 16, 2009 8:43am Mar 16, 2009 8:43am
50pips is mine, high enough to keep me well off but low enough that I can surpass it without much difficulty
  • #2,207
  • Mar 16, 2009 8:44am Mar 16, 2009 8:44am
Some private sellers on gumtree.com selling them at about £1000. Exported, seems similar to your local.


Quoting eohater
Cool bro! Hey, question outside of FOREX, do you know what English Mastiff's go for over there across the pond? They run around $2K USD here.
Ride the Bulls bearback!
  • #2,208
  • Mar 16, 2009 8:45am Mar 16, 2009 8:45am
Quoting rt4x
Good morning to you and to ALL on this thread...
My goal is 100 pips a day...but I take any green pip that she gives me and the day I don't meet my goal...well...I smile and get ready for the next day.
Goal met for the day...so I am working on extra icing for the cake !!!
Good job!

Goals are good to have and a necessity I believe. Like NYJETFAN said, he doesn't want to over extend himself, but bring in nice pippage consistantly. That's the key, CONSISTANCY!!! If there was just one setup that you knew 8 outta 10 times produces x amount of pips or positive pips, why wouldn't you trade it everytime. Now, if you knew of 3 or 5 or 10 setups that do the same, then your rock'n'rollin. That's what we're trying to show here, easy, quick setups that get you green and out with nice pippage. Sometimes, you might get BE, others might be +100, but either way, it's about controlling our risk, making profitable trades and repeating.
Just digging in the trenches like everyone else!
  • #2,209
  • Mar 16, 2009 8:46am Mar 16, 2009 8:46am
Quoting alcando
Some private sellers on gumtree.com selling them at about £1000. Exported, seems similar to your local.
Thanks bro!
Just digging in the trenches like everyone else!
  • #2,210
  • Mar 16, 2009 8:47am Mar 16, 2009 8:47am
Quoting nyjetfan
Thank RT4x. That's pretty much my plan, my goal is to nail 50+ per day (I'm hoping to be closer to 100 like you) and then be able to continue seeing the slow and steady account growth that I desire.

Glad to hear you've made your pips already for today, I'm getting a late start so starting to look for a seat at this point.
Nice trading!!
Just digging in the trenches like everyone else!
  • #2,211
  • Mar 16, 2009 8:47am Mar 16, 2009 8:47am
I think everyone might see this differently, Depending on there personal situation. I feel I would need to set a min weeklly $$ goal based on my needs at the time. Pull those funds out and grow the account with a percentage of the rest also taking some for other investments. those keeping diversified.

I like a spreadsheet to keep track and to let you know your ROI, But don't feel it is as important as taking all the good trades that present themselves during the hours you have set aside to trade.

That way you don't limit yourself to a set goal. ei. hit my goal I am done. Those also limiting your overall success. Also you might need extra $$ to make up for a bad day..

So in summary. I would set trading hours like a job. Take all the trades that come available and let everything else work itself out... Good systems don't reguire goals just action.... Ken IMHO.. Cheers
Good Trading To All ; Ken Lee
  • #2,212
  • Mar 16, 2009 8:48am Mar 16, 2009 8:48am
Quoting eohater
Cool bro! Hey, question outside of FOREX, do you know what English Mastiff's go for over there across the pond? They run around $2K USD here.
Is that the same as a Bull mastiff, cos I haven't heard of an English Mastiff
please DON'T copy my trades I am still learning
  • #2,213
  • Mar 16, 2009 8:51am Mar 16, 2009 8:51am
Quoting ezmystic
Is that the same as a Bull mastiff, cos I haven't heard of an English Mastiff
Same I believe! We're leaning toward a neopolitan mastiff.
Just digging in the trenches like everyone else!
  • #2,214
  • Mar 16, 2009 8:53am Mar 16, 2009 8:53am
Quoting KENNETH lEE
I think everyone might see this differently, Depending on there personal situation. I feel I would need to set a min weeklly $$ goal based on my needs at the time. Pull those funds out and grow the account with a percentage of the rest also taking some for other investments. those keeping diversified.

I like a spreadsheet to keep track and to let you know your ROI, But don't feel it is as important as taking all the good trades that present themselves during the hours you have set aside to trade.

That way you don't limit yourself to a set...
Ken - I agree wholeheartedly. I'm not going to stop trading at 50 pips, but by having a goal set, you can ensure you're sticking to your approach and not trying to force trades. I think goals are great to help keep you focused and on target, but as you stated you have to take what the market gives you, as you can't force the market to move as you want it to.

I think we will agree, this is going to be different for everyone, but I'm more interested to get an idea of what others feel they can capture regularly using the trade setups being discussed here so that I'm not trying to make way more than the system can provide.
  • #2,215
  • Mar 16, 2009 8:56am Mar 16, 2009 8:56am
Quoting nyjetfan
Ken - I agree wholeheartedly. I'm not going to stop trading at 50 pips, but by having a goal set, you can ensure you're sticking to your approach and not trying to force trades. I think goals are great to help keep you focused and on target, but as you stated you have to take what the market gives you, as you can't force the market to move as you want it to.

I think we will agree, this is going to be different for everyone, but I'm more interested to get an idea of what others feel they can capture regularly using the trade setups being discussed...
Forcing trades!! Oh my! What can I say except we've all been caught doing this. It's a hard habit to break, but we CANNOT FORCE THE MARKET TO MOVE IN OUR DIRECTION. We don't have enough capital to do it. What we can do though, is take the ride the market gives us.
Just digging in the trenches like everyone else!
  • #2,216
  • Mar 16, 2009 8:58am Mar 16, 2009 8:58am
Quoting eohater
Forcing trades!! Oh my! What can I say except we've all been caught doing this. It's a hard habit to break, but we CANNOT FORCE THE MARKET TO MOVE IN OUR DIRECTION. We don't have enough capital to do it. What we can do though, is take the ride the market gives us.
Yes, well forced trades are moneymakers as well. Only downside is they make more money for someone else than they ever do for me...
  • #2,217
  • Mar 16, 2009 8:58am Mar 16, 2009 8:58am
Morning students (me included)

EO, if you're going to get a dog that large, maybe you should consider a horse. For 2k I could put you and the kids on a damned fine piece of horseflesh!
Hi, my name is Barry and you can keep your doctor...
  • #2,218
  • Mar 16, 2009 8:58am Mar 16, 2009 8:58am
Quoting eohater
Same I believe! We're leaning toward a neopolitan mastiff.
whichever one you choose they're both great dogs, i think you'll like them. good luck with your purchase
please DON'T copy my trades I am still learning
  • #2,219
  • Mar 16, 2009 9:00am Mar 16, 2009 9:00am
I'm after 35 pips per day, as it would replace the income I get from my job. I'm positive this is attainable, but as a newb, its all about having the confidence to pull the trigger, and that I suppose comes with experience. I'm positive this pippage can be achieved with one trade but it's waiting for the right setup.
  • #2,220
  • Mar 16, 2009 9:00am Mar 16, 2009 9:00am
Quoting cisco
Morning students (me included)

EO, if you're going to get a dog that large, maybe you should consider a horse. For 2k I could put you and the kids on a damned fine piece of horseflesh!
They are rather large!!

We've discussed a horse, problem for us though, we don't have the land to board or maintain a horse. Not to mention, I don't have a clue about taking care of a horse.

How you doing this morning? Trust everything is in order and doing well!

Long at 4124 for myself right now.
Just digging in the trenches like everyone else!
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