Trade what you see NOT what you expect | Page 338 | 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

  • #6,741
  • Apr 9, 2009 1:52am Apr 9, 2009 1:52am
Quoting ezodisy
I am wary of breakouts during bank holiday weeks. Just going to sit back and take it in, do some studying for now. I can see we've broken above a sort of symmetrical triangle on the 1h but I think horizontal resistance is still in play for now. With all this consolidation though we're going to get one hell of a move once the markets get back to a full week, if not before.
Nothing wrong with that!

I'm gonna take a nap for about an hour. I'll see how the h4 is looking then and consider my postion. I'm covered on it, remember I had a long position from a lower price, it's coverd with a blended price of 4710 and SL is at 4715. I'm always weary of breakouts myself.
Just digging in the trenches like everyone else!
  • #6,742
  • Apr 9, 2009 1:56am Apr 9, 2009 1:56am
nice one I am still in favour of longs overall, just a bit more cautious during these holiday weeks. See you later on mate
  • #6,743
  • Apr 9, 2009 1:57am Apr 9, 2009 1:57am
Good morning everyone! Short at 4765.
  • #6,744
  • Apr 9, 2009 2:01am Apr 9, 2009 2:01am
Quoting PippiNole
Good morning everyone! Short at 4765.
1.477x is a critical area, good luck man
i still hold my short from 1.4875
When life gives you lemons, make lemonade
  • #6,745
  • Apr 9, 2009 2:02am Apr 9, 2009 2:02am
Quoting PippiNole
Good morning everyone! Short at 4765.
20 in the bank and +2 now.
  • #6,746
  • Apr 9, 2009 2:07am Apr 9, 2009 2:07am
Quoting PippiNole
20 in the bank and +2 now.
I'm out at the 10 ema.
  • #6,747
  • Apr 9, 2009 2:09am Apr 9, 2009 2:09am
she is ready to go down now possibly, after hitting the target of the last 4h small trend
When life gives you lemons, make lemonade
  • #6,748
  • Apr 9, 2009 2:11am Apr 9, 2009 2:11am
Quoting PippiNole
I'm out at the 10 ema.

u r a chicken
When life gives you lemons, make lemonade
  • #6,749
  • Apr 9, 2009 2:18am Apr 9, 2009 2:18am
Quoting micho

u r a chicken
With positive pips in the bank.
  • #6,750
  • Apr 9, 2009 2:21am Apr 9, 2009 2:21am
Quoting PippiNole
With positive pips in the bank.
no thats not the point

you entered in a excellent position, at least you should keep it till the end, if the price moved against you add another short when you see another signal and it pays off double. we are in a down trend, it will be very hard to break up simply, we need alot of oscillation before breaking up and by that time you would have closed your trades for + but now its too early
When life gives you lemons, make lemonade
  • #6,751
  • Apr 9, 2009 2:23am Apr 9, 2009 2:23am
Quoting micho
no thats not the point

you entered in a excellent position, at least you should keep it till the end, if the price moved against you add another short when you see another signal and it pays off double. we are in a down trend, it will be very hard to break up simply, we need alot of oscillation before breaking up and by that time you would have closed your trades for + but now its too early
now if you entered in 1.4765 like u did, your target would be 1.454x. thats where u should close ur trade, if it went against u and broken up, u adjust the target and wait for another signal to sell again... you will end up in positive pips.

im not talking about just adding positions like that, im talking about seeing sell setups and adding
When life gives you lemons, make lemonade
  • #6,752
  • Apr 9, 2009 2:24am Apr 9, 2009 2:24am
Gotcha
  • #6,753
  • Apr 9, 2009 2:26am Apr 9, 2009 2:26am
Quoting micho
you entered in a excellent position, at least you should keep it till the end, if the price moved against you add another short when you see another signal and it pays off double.
"keep it till the end"? And what happens if "the end" is a move back to the previous high? You are trading in a different style from most in here, so do not expect people to treat setups like you do. I think most traders in this thread, selling at resistance there, would have moved their stop to breakeven after progressing 20-30pips down, and then locking in profit as we hit certain targets as Pippinole did.
  • #6,754
  • Apr 9, 2009 2:31am Apr 9, 2009 2:31am
I dont' think I will trade today because of the holiday week. Just wanted to say that it looks like an ascending triangle on the 1h. We have this key horizontal resistance around where price just fell off, and we have a rising trendling pushing prices up continually. I remain in favour of longs just now.
  • #6,755
  • Apr 9, 2009 2:32am Apr 9, 2009 2:32am
Quoting ezodisy
"keep it till the end"? And what happens if "the end" is a move back to the previous high? You are trading in a different style from most in here, so do not expect people to treat setups like you do. I think most traders in this thread, selling at resistance there, would have moved their stop to breakeven after progressing 20-30pips down, and then locking in profit as we hit certain targets as Pippinole did.
ah i see he is scalping the resistance line hehe ok

but thats not effective you know, its like +20 +20 +20 +10 +15 -200
you know what i mean, better stick to a larger plan
When life gives you lemons, make lemonade
  • #6,756
  • Apr 9, 2009 2:35am Apr 9, 2009 2:35am
Quoting micho
ah i see he is scalping the resistance line hehe ok

but thats not effective you know, its like +20 +20 +20 +10 +15 -200
you know what i mean, better stick to a larger plan
It is all good. My larger plan is +2000 for the week.
  • #6,757
  • Apr 9, 2009 2:37am Apr 9, 2009 2:37am
for instance if you have 5000 in your account, play 0.1 mini lot per trade and add to the position on clear signals
you can buy on small time frames and sell on bigger time frames, that doesn't mean hedge yourself and get screwed in your positions. if you know when to add and where to get rid of your trades you will minimize the loss and maximize the gains in both directions
When life gives you lemons, make lemonade
  • #6,758
  • Apr 9, 2009 2:39am Apr 9, 2009 2:39am
Quoting PippiNole
It is all good. My larger plan is +2000 for the week.
+2000 pips per week? that is rather not realistic with current market conditions on one pair.
unless you are talking about 2000$ which is 2 lot size which is not healthy to play unless you have like 50000$ in your account hehe
When life gives you lemons, make lemonade
  • #6,759
  • Apr 9, 2009 2:42am Apr 9, 2009 2:42am
Quoting micho
+2000 pips per week? that is rather not realistic with current market conditions on one pair.
unless you are talking about 2000$ which is 2 lot size which is not healthy to play unless you have like 50000$ in your account hehe
I trade 2 pairs and that is my haul for this week.
  • #6,760
  • Apr 9, 2009 2:47am Apr 9, 2009 2:47am
Quoting PippiNole
I trade 2 pairs and that is my haul for this week.
thats great man

all pairs react the same ways price accumulation with time, but what is different is volatility
When life gives you lemons, make lemonade
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