Trade what you see NOT what you expect | Page 561 | 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

  • #11,201
  • May 6, 2009 6:53am May 6, 2009 6:53am
Quoting baz
I think next year is going to be GREAT....Wenger has got the TEAM in place,and maybe new a rrivals as well..

baz
Patience + Discipline - Greed = Success
  • #11,202
  • May 6, 2009 7:07am May 6, 2009 7:07am
Another 62ema bounce anyone??
  • #11,203
  • May 6, 2009 7:08am May 6, 2009 7:08am
Quoting baz
I think next year is going to be GREAT....Wenger has got the TEAM in place,and maybe new a rrivals as well..

baz
  • #11,204
  • May 6, 2009 7:14am May 6, 2009 7:14am
This HUGE pin is forming on 15M.
Does it mean reversal,
Or it's just pointing direction?
Attached Image (click to enlarge)
Click to Enlarge Name: 15min.jpg Size: 72 KB
  • #11,205
  • May 6, 2009 7:23am May 6, 2009 7:23am
Hi Alan and Komissar
I trust you are well
  • #11,206
  • May 6, 2009 7:23am May 6, 2009 7:23am
Quoting FOURX

http://tbn0.google.com/images?q=tbn:...om/arsenal.jpg
Patience + Discipline - Greed = Success
  • #11,207
  • May 6, 2009 7:30am May 6, 2009 7:30am
Quoting Komissar
This HUGE pin is forming on 15M.
Does it mean reversal,
Or it's just pointing direction?
I suspect that pin got formed because as soon as we hit support, lots of buy orders were triggered. I would expect a lot of these orders to take profit, and thus send us back down again. It's also not a pin I would look to go long on, since the low did not make a new low, and the body closed in the middle of our trading range for today. A pin works far better when it is either at the top of the trading range or at the bottom.
  • #11,208
  • May 6, 2009 7:38am May 6, 2009 7:38am
Hi guys seems like market manipulators hard at work today.

I am only short on GBP/$ target 1.49 --1.4850 .........I am day dreaming until this is to drop to 1.40
Attached Image (click to enlarge)
Click to Enlarge Name: GBP.JPG Size: 105 KB
BANDA333
  • #11,209
  • May 6, 2009 7:41am May 6, 2009 7:41am
Hiya mate. Hi Guys. Been a bit busy riding the rodeo queen for a good pip haulage today and did not get to say hi to the boys. Just closed my short because of that pin and waiting for a new bus if I take it. Done for the day I think. You smashing the lady?

Quoting davids
Hi Alan and Komissar
I trust you are well
Ride the Bulls bearback!
  • #11,210
  • May 6, 2009 7:48am May 6, 2009 7:48am
Quoting daffy
I suspect that pin got formed because as soon as we hit support, lots of buy orders were triggered. I would expect a lot of these orders to take profit, and thus send us back down again. It's also not a pin I would look to go long on, since the low did not make a new low, and the body closed in the middle of our trading range for today. A pin works far better when it is either at the top of the trading range or at the bottom.
However, failure of the next bar to close below the pin, and close with a flat bottom, and nearer to support, would be a possibility to enter a long trade.
  • #11,211
  • May 6, 2009 8:00am May 6, 2009 8:00am
Quoting daffy
However, failure of the next bar to close below the pin, and close with a flat bottom, and nearer to support, would be a possibility to enter a long trade.
Rephrasing the Queen
"Flat bottomed girls
You make the rockin world go round"
  • #11,212
  • May 6, 2009 8:13am May 6, 2009 8:13am
Hey guys I have a question when do you call it quits for the day, I mean say your up so much, and take profit. Do you set goal for the day, lately I have been up well, but start to overtrade the market and get owned by the close.
  • #11,213
  • May 6, 2009 8:16am May 6, 2009 8:16am
Quoting kalparker
Hey guys I have a question when do you call it quits for the day, I mean say your up so much, and take profit. Do you set goal for the day, lately I have been up well, but start to overtrade the market and get owned by the close.
Set a goal for the day... when you reach it ... relax.. if you are going to continue trading, only look for high probability trades...
Patience + Discipline - Greed = Success
  • #11,214
  • May 6, 2009 8:36am May 6, 2009 8:36am
Looks like we're going to get another indecisive daily close today. I'm guessing the market is waiting for the results of the stress test, and until then we'll be ranging.
  • #11,215
  • May 6, 2009 8:37am May 6, 2009 8:37am
Quoting daffy
Looks like we're going to get another indecisive daily close today. I'm guessing the market is waiting for the results of the stress test, and until then we'll be ranging.

Don't forget tomorrow we have interest rate statements and NFP on Friday.

HOLLA
  • #11,216
  • May 6, 2009 8:46am May 6, 2009 8:46am
Quoting daffy
Looks like we're going to get another indecisive daily close today. I'm guessing the market is waiting for the results of the stress test, and until then we'll be ranging.
Hi Daffy
i have no idea what this means,BUT when are the results or announcement going to happen.....

baz
  • #11,217
  • May 6, 2009 8:47am May 6, 2009 8:47am
Quoting kalparker
Hey guys I have a question when do you call it quits for the day, I mean say your up so much, and take profit. Do you set goal for the day, lately I have been up well, but start to overtrade the market and get owned by the close.
What I do is :

1) Define the time I am going to trade
2) Trade the setups
3) Relax anyway

I know where Infinity is coming from when he says "Daily goal" and then leave it, because it happens to me as well, I always think to myself "I have made some nice profits today, so I am not going to waste it on just any old price action".

But anyway, I just trade my setups, I don't have a daily goal because I personally found it restricting when I had one, also it would make me overtrade. I would be trying to make stuff happen (lol) .

Most of my trading is done on the Daily and 4HR so I am not really much of an intraday trader in terms of the 5min and 15min, but I am getting more experienced at it .

I also trade the 1HR of 28 pairs, but they are more "buy and hold" types of trades.

EDIT - What actually is your Daily goal Infinity ? (If you dont mind me asking) Some days I can't trade because of Uni but if I am studying I always get to catch the 1HR closes


Did anyone take the 1HR 62ema "near bounce" this morning ? Price action formed just above it by maybe 2 pips, I was asleep at the time .


Also - THE GAME LAST NIGHT - I watched it and was expecting a big performance from the gunners, and they started brightly. I think if Arsenal scored first it would have been a different game because the united 1-0 was so harsh, considering the gunners needed 3 goals to win outright then :|.

Ronaldos goal was amazing, too bad he is such an idiot.
  • #11,218
  • May 6, 2009 8:49am May 6, 2009 8:49am
Quoting baz
Hi Daffy
i have no idea what this means,BUT when are the results or announcement going to happen.....

baz
This is the stress test of the US banks, to determine their health, on whether they are adequately capitalized or need to raise more money. If they are worse than expected, we can see the dow skydiving and the dollar gaining strength.

It's due out tomorrow, but there's no fixed time when the news will be released.
  • #11,219
  • May 6, 2009 8:50am May 6, 2009 8:50am
Quoting alcando
Hiya mate. Hi Guys. Been a bit busy riding the rodeo queen for a good pip haulage today and did not get to say hi to the boys. Just closed my short because of that pin and waiting for a new bus if I take it. Done for the day I think. You smashing the lady?
Sorry for the late reply I have a had a good day so far, I am happy to hear you are making good pips
  • #11,220
  • May 6, 2009 8:53am May 6, 2009 8:53am
Quoting daffy
This is the stress test of the US banks, to determine their health, on whether they are adequately capitalized or need to raise more money. If they are worse than expected, we can see the dow skydiving and the dollar gaining strength.

It's due out tomorrow, but there's no fixed time when the news will be released.
Ok mate ,thanks.........no trading for me tommorow anyway......might just get CRAZZZZZZy......

baz
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