Trade what you see NOT what you expect | Page 209 | Forex Factory

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Trade what you see NOT what you expect

  • #4,161
  • Mar 26, 2009 5:12am Mar 26, 2009 5:12am
The long-term trader in me is still strong!

If you look at the daily bar chart, you can see two previous bars forming a pin bar.

So taking a short-term long with this formation, is still a bit hard for me.

But what i'm learning here is that monitoring your (short-term) trades and locking in profit almost immediately, is key to this type of trading.

It's all about swiftness.

Take care and happy pip hunting.
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  • #4,162
  • Edited 6:14am Mar 26, 2009 5:28am | Edited 6:14am
First of all hats off to everyone on this thread, it seems like a great group that is really supportive of others, kind of refreshing on ff as of late.

Thought I would post this for anybody that may want to use it, it is an indi that will email you when price has either simply touched an ma or when it bounces off of the ma. I find it handy to alert me to trades when I am not right in front of the screen. It can be used on any time frame chart.

It is fully customizable you can adjust:
1: The 1st MA value
2: The 2nd MA value
3: The 3rd MA value
4: The Tolerance of the touches
5: The distance from the candle to place the arrows.

The tolerance feature is to allow you to decide how far above or below an EMA is still considered a bounce for eg...

If the price comes up to an MA and goes through it by 5 pips and then goes back down this can be considered a bounce....but if the price goes 50 pips through an EMA it is broken and can not be considered a bounce...

There is a tolerance setting for you so that you can choose how far the price can go through an MA and still be considered a bounce if it comes back...by default I have set it to 5 pips so this means...

If price comes from below and goes up through the EMA no more than 5 pips and then comes back down the Indy will alert you to a bounce...but if it goes beyond the tolerance level and comes back the indy will alert you that it was beyond the tolerance level...this will prevent false signals to an extent.
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File Type: ex4 EMA_Cross_Bounce_Alerterv01.ex4   9 KB | 365 downloads
  • #4,163
  • Mar 26, 2009 5:37am Mar 26, 2009 5:37am
Morning, fellows.

Missed the south train, but still...
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  • #4,164
  • Mar 26, 2009 5:49am Mar 26, 2009 5:49am
Todays Debt auction results were better than expected. Damn! This does affect some of the pessimism from yesterday, so although I still hold half my short targeting the 14405 level, from a fundamental point of view it is quite possible that the H&S may have less reason to play out. Technically it looks great and with a wet Brown fart at the helm in the UK, the south plays so nicely.
Ride the Bulls bearback!
  • #4,165
  • Mar 26, 2009 6:49am Mar 26, 2009 6:49am
Hi Friends
How are you all? At last thankx to Komissar figured out how to post VT charts. Thank you buddy......Zpazebo ......
I have my short from yesterday 1.4710 ,normally I close end of the day but left it open.......due to fundamental situation in u.k ............expect it to drop at least to 1.4430 region and even to 1.42 ........
What you guys think?
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BANDA333
  • #4,166
  • Mar 26, 2009 7:34am Mar 26, 2009 7:34am
another perfect 15m 35-50 cross just now with the 1h 62ema at the same resistance point. Thanks again EO
  • #4,167
  • Mar 26, 2009 7:36am Mar 26, 2009 7:36am
Quoting ezodisy
another perfect 15m 35-50 cross just now with the 1h 62ema at the same resistance point. Thanks again EO
Makes two of us. Thanks, EO
  • #4,168
  • Mar 26, 2009 7:53am Mar 26, 2009 7:53am
took a long as soon as this 15m candle passed top of previous one. Thanks Infinity I remembered it

EDIT missed the short tho was in the toilet
please DON'T copy my trades I am still learning
  • #4,169
  • Mar 26, 2009 7:54am Mar 26, 2009 7:54am
Quoting ezmystic
took a long as soon as this 15m candle passed top of previous one. Thanks Infinity I remembered it
that sounds like a good one
  • #4,170
  • Mar 26, 2009 7:57am Mar 26, 2009 7:57am
Quoting ezmystic
took a long as soon as this 15m candle passed top of previous one. Thanks Infinity I remembered it

EDIT missed the short tho was in the toilet
Couldn't give some info or a chart on this trade could you?

Thanks
  • #4,171
  • Mar 26, 2009 7:57am Mar 26, 2009 7:57am
Quoting ezodisy
that sounds like a good one
yeah, I remembered Infinity showed this trade, that candle was not hangman, so as soon as it went past top I longed.

taken half off at top sr level
please DON'T copy my trades I am still learning
  • #4,172
  • Mar 26, 2009 8:05am Mar 26, 2009 8:05am
Quoting pmn100
Couldn't give some info or a chart on this trade could you?

Thanks
sure...
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please DON'T copy my trades I am still learning
  • #4,173
  • Mar 26, 2009 8:05am Mar 26, 2009 8:05am
Quoting ezmystic
yeah, I remembered Infinity showed this trade, that candle was not hangman, so as soon as it went past top I longed.

taken half off at top sr level
EZ, maybe I missed something, but why that 15M candle was not a hangman?
Thanks

I've got it, never mind
  • #4,174
  • Mar 26, 2009 8:09am Mar 26, 2009 8:09am
That's very good trading ez, thanks for the chart. I agree because it closed above the ma, and also the upward pressure, if you were watching, was very intense. I will remember this for the future, thank you. I went short at 4632 and am out for 25
  • #4,175
  • Mar 26, 2009 8:10am Mar 26, 2009 8:10am
Quoting Komissar
EZ, maybe I missed something, but why that 15M candle was not a hangman?
Thanks

I've got it, never mind
cool was just about to answer, will say anyway incase anyone else need to know.
wick at top is not 2 times bigger than body , I think this is correct please someone say if I'm wrong and I'll pull this (don't want to be putting up wrong info)
please DON'T copy my trades I am still learning
  • #4,176
  • Mar 26, 2009 8:13am Mar 26, 2009 8:13am
Quoting ezmystic
took a long as soon as this 15m candle passed top of previous one. Thanks Infinity I remembered it

EDIT missed the short tho was in the toilet

It is funny how we all see different things.. I took a short off the top of the wick 50 sma 1 hr and a trendline. also previous top. already out though...

A hangman should have a wick at least 2 times longer than the body according to the books....
Good Trading To All ; Ken Lee
  • #4,177
  • Mar 26, 2009 8:15am Mar 26, 2009 8:15am
Quoting KENNETH lEE
It is funny how we all see different things.. I took a short off the top of the wick 50 sma 1 hr and a trendline. also previous top. already out though...

A hangman should have a wick at least 2 times longer than the body according to the books....
cheers ken for clarification, will change my post
please DON'T copy my trades I am still learning
  • #4,178
  • Mar 26, 2009 8:19am Mar 26, 2009 8:19am
Quoting KENNETH lEE
It is funny how we all see different things.. I took a short off the top of the wick 50 sma 1 hr and a trend line. also previous top. already out though...

A hangman should have a wick at least 2 times longer than the body according to the books....
Will I ever learn to stay in a trade ? Probably not.
Good Trading To All ; Ken Lee
  • #4,179
  • Mar 26, 2009 8:24am Mar 26, 2009 8:24am
My shorts from last night closed out at 4550... I am currently flat and tired...

Be back in a few....
Patience + Discipline - Greed = Success
  • #4,180
  • Mar 26, 2009 8:24am Mar 26, 2009 8:24am
Quoting ezmystic
sure...
Thanks ez. I was a little confused because that seems like a hangman to me, so was wondering why the opposite trade was valid. The cloase above the MAs like that is very bullish I suppose, so something to look out for with hangmans.
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