Trade what you see NOT what you expect | Page 135 | Forex Factory

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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

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Trade what you see NOT what you expect

  • #2,681
  • Mar 18, 2009 3:10am Mar 18, 2009 3:10am
Quoting eohater
Before I head out, for those that follow this thread, whether you've posted or not, please let me know if this thread is helping you or not. Like I said before, I want everyone in my thread to make positive pippage.

Thanks guys!
EO
Hi Eo, Great thread, getting heaps of training & lots of friendly people makes it one of the greatest threads around.
cheers
Target 2 : Stoploss in the green
  • #2,682
  • Mar 18, 2009 3:24am Mar 18, 2009 3:24am
Morning all - woke up a bit late and only got 66 pips off the recent run down from 1.4065 (I got in at 1.4031 for 66 pips). So far enjoying the London trading session (green pips are always good). Anyone looking for her to turn north at this time? 1.394x seems to have drawn a line in the sand, so now just need some buyers to come in at London comes online for the day.

BTW - If you haven't tried it, check out rumus charting software. I love how I can "undock" the individual charts, so I can move them as their own window wherever I want on my desktop and arrange them across both monitors. Very awesome stuff.
  • #2,683
  • Mar 18, 2009 3:31am Mar 18, 2009 3:31am
Quoting nyjetfan
Morning all - woke up a bit late and only got 66 pips off the recent run down from 1.4065 (I got in at 1.4031 for 66 pips)....
hey NY.

like to share what your trade was based on?

thanks
  • #2,684
  • Mar 18, 2009 3:37am Mar 18, 2009 3:37am
Quoting FOURX
hey NY.

like to share what your trade was based on?

thanks
Sure thing Fourx, see attached chart.

1.4065 shows the "high" and I liked seeing the candles bouncing off there with long wicks. I got up and first candle closed I saw was the one with the body below the cyan/light blue 62EMA (248EMA on 15m chart). I liked the looks of that one and the close below the 62EMA, so I got short about on the 10EMA bounce (dark blue). If you look at the PDF I'd personally characterize this one as a bounce off the MAs that are pointing towards 5 o'clock. This is basic setup c from the pdf.

Hope this helps.
Attached Image (click to enlarge)
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  • #2,685
  • Mar 18, 2009 3:51am Mar 18, 2009 3:51am
Thanks mate
  • #2,686
  • Mar 18, 2009 3:55am Mar 18, 2009 3:55am
Anyone currently in a position? I'm looking for a new seat, but not wanting to jump in front of this southbound freight train too hastily.
  • #2,687
  • Mar 18, 2009 3:59am Mar 18, 2009 3:59am
Quoting nyjetfan
Anyone currently in a position? I'm looking for a new seat, but not wanting to jump in front of this southbound freight train too hastily.
there is some news out in 30 minutes,wait to see for any impact or otherwise....imho

baz
  • #2,688
  • Mar 18, 2009 4:02am Mar 18, 2009 4:02am
Quoting baz
there is some news out in 30 minutes,wait to see for any impact or otherwise....imho

baz
Thanks for the heads up Baz. Looks like it might be a good time to head to the gym as I typically try to wait 30m on either side of an announcement to let the dust settle a bit.
  • #2,689
  • Mar 18, 2009 4:05am Mar 18, 2009 4:05am
Quoting nyjetfan
Thanks for the heads up Baz. Looks like it might be a good time to head to the gym as I typically try to wait 30m on either side of an announcement to let the dust settle a bit.
good idea

baz
  • #2,690
  • Mar 18, 2009 4:31am Mar 18, 2009 4:31am
holy shit that is some news
  • #2,691
  • Mar 18, 2009 6:18am Mar 18, 2009 6:18am
Here is another chart showing NYJetfan's trade also 2 other possblities,, If anyone EVER has another Take on my charts please let us all know as I don't want to spread bad information.. I am going to try and but all the text on the charts the same as others do , This way all we have to do is SAVE the picture to your (EO thread file) to study later.. Ken
Attached Image (click to enlarge)
Click to Enlarge Name: March 18th.JPG Size: 246 KB
Good Trading To All ; Ken Lee
  • #2,692
  • Mar 18, 2009 6:24am Mar 18, 2009 6:24am
Quoting KENNETH lEE
Here is another chart showing NYJetfan's trade also 2 other possblities,, If anyone EVER has another Take on my charts please let us all know as I don't want to spread bad information.. I am going to try and but all the text on the charts the same as others do , This way all we have to do is SAVE the picture to your (EO thread file) to study later.. Ken
Good analysis Ken

I need to wake up earlier to catch the rest of that move. I'd have loved to entered off the pin, but that was already history so had to wait for the next bus stop to hop on. Big key, don't chase a trade, if you miss it another one will be along shortly. If you chase the trade, you'll end up losing more times than you win (Don't ask me how I know this.. )

Just a heads up - we're about an hour from US CPI and then we have FOMC after lunch.

If you don't already have one, I'd recommend keeping an eye on a calendar something like what can be found here at FF:

http://www.forexfactory.com/calendar...th=3&year=2009
  • #2,693
  • Mar 18, 2009 6:30am Mar 18, 2009 6:30am
Quoting KENNETH lEE
Here is another chart showing NYJetfan's trade also 2 other possblities,, If anyone EVER has another Take on my charts please let us all know as I don't want to spread bad information.. I am going to try and but all the text on the charts the same as others do , This way all we have to do is SAVE the picture to your (EO thread file) to study later.. Ken
I have a question about the 35/50 cross and reverse trade. If you look at the chart posted by Ken above, there are two green candles whilst price was ranging, where they crossed and clossed through the 35/50ema, but the following reversal didn't come. Are there any reasons why the 35/50ema trade shouldn't have been taken in these instances?
  • #2,694
  • Mar 18, 2009 6:32am Mar 18, 2009 6:32am
Quote
If anyone EVER has another Take on my charts please let us all know as I don't want to spread bad information..

Just a comment on the above statement, while I'm all for opposing viewpoints/analysis, I think that the big key is finding the way to look at/analyze these things for yourself in a way that results in positive pips. I'm sure if you give the same chart to multiple traders, outside of EO and Infinity, I doubt you'd get the exact same opinion/analysis from any of the others.

But as Ken pointed out, additional information is always beneficial, especially as it lets others understand potential different ways to analyze things that might improve their profitability.

It doesn't matter if we all agree on every detail, as long as we all end up in the green at the end of the day.
  • #2,695
  • Mar 18, 2009 6:37am Mar 18, 2009 6:37am
Quoting nyjetfan
Good analysis Ken

I need to wake up earlier to catch the rest of that move. I'd have loved to entered off the pin, but that was already history so had to wait for the next bus stop to hop on. Big key, don't chase a trade, if you miss it another one will be along shortly. If you chase the trade, you'll end up losing more times than you win (Don't ask me how I know this.. )

Just a heads up - we're about an hour from US CPI and then we have FOMC after lunch.

If you don't already have one, I'd recommend keeping an eye on a calendar...
I agree whole heartedly, I have the calender and this thread set as my home page.. Yes that is why we are learning EO's style as it shows the many possibilities for good trades (I) didn't see before. Making that next trade come along a lot sooner.. I was for all those myself.. Didn't get any.. But as we know the next one is but a moment away.
Good Trading To All ; Ken Lee
  • #2,696
  • Mar 18, 2009 6:40am Mar 18, 2009 6:40am
Quoting pmn100
I have a question about the 35/50 cross and reverse trade. If you look at the chart posted by Ken above, there are two green candles whilst price was ranging, where they crossed and clossed through the 35/50ema, but the following reversal didn't come. Are there any reasons why the 35/50ema trade shouldn't have been taken in these instances?
PMN - Not sure about which candles you are referring to, but the ones to the left of the first pin (first circled candle) were during my sleeptime, but EO was probably awake then (he never sleeps..). Looking at the chart, we had a "lull before the storm" which would've allowed folks to do some scalping across the MA's as things "ping-ponged" back and forth.

There have been several posts about how to scalp in this type of environment - try these posts (which are also in the pdf) for starting points:
1155, 27 (and I'm sure there are others).

Hope this helps.
  • #2,697
  • Edited 6:53am Mar 18, 2009 6:42am | Edited 6:53am
Quoting pmn100
I have a question about the 35/50 cross and reverse trade. If you look at the chart posted by Ken above, there are two green candles whilst price was ranging, where they crossed and clossed through the 35/50ema, but the following reversal didn't come. Are there any reasons why the 35/50ema trade shouldn't have been taken in these instances?

MY VIEW on that is the price was actually folowing the ma's touching them most of the time.. The 2 red candles prior to our downturn closed above and away from the ma lines.. So when that one candle crossed all the lines and closed clear it was a NEW break of the ma lines.. IMO Ken

ps. Actually the first green candle did work but with any spread you would not have made anything. Looking back almost everytime the candle scrossed all the lines it reversed if just slightlly but the key might be how faraway it closes. If it is close doesn't have far to come back.. But I personally like it to start it's move away form the ma lines...
Good Trading To All ; Ken Lee
  • #2,698
  • Mar 18, 2009 6:55am Mar 18, 2009 6:55am
Quoting KENNETH lEE
Here is another chart showing NYJetfan's trade also 2 other possblities,, If anyone EVER has another Take on my charts please let us all know as I don't want to spread bad information.. I am going to try and but all the text on the charts the same as others do , This way all we have to do is SAVE the picture to your (EO thread file) to study later.. Ken
Great Job...just like some others I was sleep also, oh well will wait for another seat.

The setups look good to me and it also was in sync with the 1HR candle that tapped off of the 50sma at 0200 EDT.


HOLLA
  • #2,699
  • Mar 18, 2009 7:04am Mar 18, 2009 7:04am
Quoting Turtle
Great Job...just like some others I was sleep also, oh well will wait for another seat.

The setups look good to me and it also was in sync with the 1HR candle that tapped off of the 50sma at 0200 EDT.


HOLLA
Well I think we'll have 30-45 mins before the next bus comes along, as US core CPI is due in about 25 minutes. Once the dust settles from that, hopefully we'll return to our regularly scheduled profitable trades..
  • #2,700
  • Mar 18, 2009 7:08am Mar 18, 2009 7:08am
Quoting nyjetfan
Well I think we'll have 30-45 mins before the next bus comes along, as US core CPI is due in about 25 minutes. Once the dust settles from that, hopefully we'll return to our regularly scheduled profitable trades..
I like this attitude. So energetic, so positive!
Carry on, mate!
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