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Trade what you see NOT what you expect

  • #12,021
  • May 12, 2009 6:18pm May 12, 2009 6:18pm
Quoting m0N5Ta
Hi guys,

I am still confused about the 35/50 crossing, is that mean a bar have to cross both lines or a line crossing the other line.

Is this cross meaning up it goes?

Thank you for your help

It is one single candle passes throught the 35 and 50 ma's then we go opposite on the open of the next candle.. see attached chart.. Need more information just ask..
Attached Image (click to enlarge)
Click to Enlarge Name: 1b Misc GBP.JPG Size: 169 KB
Good Trading To All ; Ken Lee
  • #12,022
  • May 12, 2009 6:20pm May 12, 2009 6:20pm
Quoting m0N5Ta
Hi guys,

I am still confused about the 35/50 crossing, is that mean a bar have to cross both lines or a line crossing the other line.

Is this cross meaning up it goes?

Thank you for your help

On your chart the pin did not cross through and CLOSE on the opposite side of them...
Good Trading To All ; Ken Lee
  • #12,023
  • May 12, 2009 6:21pm May 12, 2009 6:21pm
Quoting Turtle

But if the candle had closed at 5190, this closed candle would be 35+ pips past the MA......is the reverse still valid???

HOLLA
Ok, I gotcha now. If it was me I'd probably take the trade if the close had little to no lower wick. I'd also be looking around on the various time frames to see if we're at or near s/r to confirm my confidence in the trade.

For a definitive answer, though, maybe you should wait on EO or Infinity.
Hi, my name is Barry and you can keep your doctor...
  • #12,024
  • May 12, 2009 6:24pm May 12, 2009 6:24pm
Quoting cisco
Ok, I gotcha now. If it was me I'd probably take the trade if the close had little to no lower wick. I'd also be looking around on the various time frames to see if we're at or near s/r to confirm my confidence in the trade.

For a definitive answer, though, maybe you should wait on EO or Infinity.
Thanks bro........

Yea, I'll wait on them......

HOLLA
  • #12,025
  • May 12, 2009 6:24pm May 12, 2009 6:24pm
Quoting KENNETH lEE
On your chart the pin did not cross through and CLOSE on the opposite side of them...
Thank you Ken, was the pin showing a validate entry also? it is heading up now after that pin a few bars
Many happy pips returned ...
  • #12,026
  • May 12, 2009 6:48pm May 12, 2009 6:48pm
yes see charts ,, If you would like the complete set of over 25 charts PM me your e-mail address...
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 2 Hammer Trade a.JPG Size: 185 KB
Click to Enlarge Name: 2 Hammer Trade b.JPG Size: 190 KB
Click to Enlarge Name: 2 Hammer Trade c.JPG Size: 186 KB
Click to Enlarge Name: 3 MA cross setup a.JPG Size: 192 KB
Click to Enlarge Name: 3 MA cross setup b.JPG Size: 197 KB
Good Trading To All ; Ken Lee
  • #12,027
  • May 12, 2009 7:13pm May 12, 2009 7:13pm
Anybody in a trade?????

I'm in demo......long EJ @ 131.50

HOLLA
  • #12,028
  • May 12, 2009 7:17pm May 12, 2009 7:17pm
Quoting Turtle
Anybody in a trade?????

I'm in demo......long EJ @ 131.50

HOLLA

Closed and reverse at 131.76

HOLLA
  • #12,029
  • May 12, 2009 7:24pm May 12, 2009 7:24pm
Quoting Turtle
Closed and reverse at 131.76

HOLLA
What were you looking at to do that. If you don't mind me asking..
Good Trading To All ; Ken Lee
  • #12,030
  • May 12, 2009 7:26pm May 12, 2009 7:26pm
Quoting Turtle
Closed and reverse at 131.76

HOLLA

Looking good, looks like we might get a reversal pin here at the close...
Good Trading To All ; Ken Lee
  • #12,031
  • May 12, 2009 7:42pm May 12, 2009 7:42pm
Quoting KENNETH lEE
What were you looking at to do that. If you don't mind me asking..
35/50 closed and reverse with a 35 pip s/l at 132.11

That's the one trade I want to master, because there are usually 1-4 setups a day. So far it is making it easier to spot because I have less MA's on my charts. Taking a page from the book I'm reading by Mark Douglas "How to Become a Discipline Trader" He talks about "Becoming an expert at just one market behavior" 35/50 is the one, so you will see me asks questions about this.

Took profit on the short at 131.56 and covered.

HOLLA
Attached Image
  • #12,032
  • May 12, 2009 7:48pm May 12, 2009 7:48pm
Quoting Turtle
35/50 closed and reverse with a 35 pip s/l at 132.11

That's the one trade I want to master, because there are usually 1-4 setups a day. So far it is making it easier to spot because I have less MA's on my charts. Taking a page from the book I'm reading by Mark Douglas "How to Become a Discipline Trader" He talks about "Becoming an expert at just one market behavior" 35/50 is the one, so you will see me asks questions about this.

Took profit on the short at 131.56 and covered.

HOLLA
Cool, But you have a 35 ema ... suppose to be a 35 sma according to EO's rules.. I do believe.. I agree it is always better to become expert on one thing at a time then add to it.. Like taking only with trend MA bounces. Good trade I don't know why I didn't take the short off the pin.. I mentioned it prior to it.. took a long on the gbp and two on ej earlier.. Grabbed a little bit.
Good Trading To All ; Ken Lee
  • #12,033
  • May 12, 2009 7:51pm May 12, 2009 7:51pm
Quoting KENNETH lEE
Cool, But you have a 35 ema ... suppose to be a 35 sma according to EO's rules.. I do believe.. I agree it is always better to become expert on one thing at a time then add to it.. Like taking only with trend MA bounces. Good trade I don't know why I didn't take the short off the pin.. I mentioned it prior to it.. took a long on the gbp and two on ej earlier.. Grabbed a little bit.
Here's the post by EO

http://www.forexfactory.com/nfs/cust...tar68545_2.gifeohater
"One for all, and all for one"
Member Since May 2008
http://www.forexfactory.com/images/misc/10+kt.gif 7,047 Posts

http://www.forexfactory.com/images/icons/icon1.gif Chart Configurations
Here are the charts that I use and what I have applied to them.

15m:
10ema, 21ema, 35sma and 50sma In a later post they added the 50 ema as the primary one

1h:
10sma, 50sma and 62ema

4h:
5sma, 10sma, 50ema and 150ema

Day;
5sma, 35sma and 50ema

Please note, the charts have different types of MA's applied to them. Some are EMA's and some are SMA's. MA's are nothing more than floating support/resistance. I use them for balance points and price targets for profit taking.
Good Trading To All ; Ken Lee
  • #12,034
  • May 12, 2009 7:56pm May 12, 2009 7:56pm
Quoting KENNETH lEE
Cool, But you have a 35 ema ... suppose to be a 35 sma according to EO's rules.. I do believe.. I agree it is always better to become expert on one thing at a time then add to it.. Like taking only with trend MA bounces. Good trade I don't know why I didn't take the short off the pin.. I mentioned it prior to it.. took a long on the gbp and two on ej earlier.. Grabbed a little bit.
Funny thing is me and EO discuss the MA's through a PM and it seems my EMA's line up with his SMA's, maybe off by a couple of pips because of bid/ask price.

So I changed mine to EMA's to be as close to his as possible....that must be the difference between the MT4 and the Rumus software that they use.

What I have been doing this week is only going live during the morning US session because of the huge group that is moving the market and then going to demo after that so I can keep on practicing. :nerd:

Working on my mental aspect of trading....it is a huge part and has been the cause of prior losing trades.

HOLLA
  • #12,035
  • May 12, 2009 7:59pm May 12, 2009 7:59pm
Quoting Turtle

Took profit on the short at 131.56 and covered.

HOLLA
Took half of what was left off @ 131.36 and covered the 3 soliders left.

HOLLA
  • #12,036
  • May 12, 2009 8:04pm May 12, 2009 8:04pm
Quoting Turtle
Funny thing is me and EO discuss the MA's through a PM and it seems my EMA's line up with his SMA's, maybe off by a couple of pips because of bid/ask price.

So I changed mine to EMA's to be as close to his as possible....that must be the difference between the MT4 and the Rumus software that they use.

What I have been doing this week is only going live during the morning US session because of the huge group that is moving the market and then going to demo after that so I can keep on practicing. :nerd:

[size=4]Working on my mental aspect of...

As long as it works for you.. price is over 20 pips difference between the sma and ema on mine.. But if it's working might have to change mine will keep and eye on you.. You will for sure get more signals like that the 50 and 35 are closer together that way..
Good Trading To All ; Ken Lee
  • #12,037
  • May 12, 2009 8:07pm May 12, 2009 8:07pm
Quoting Turtle
Took half of what was left off @ 131.36 and covered the 3 soliders left.

HOLLA
Took another off @ 131.16, moved s/l to +20, letting the last two soliders run.

Think I'm done practicing for the night, but will hang out for a bit.

HOLLA
  • #12,038
  • May 12, 2009 8:11pm May 12, 2009 8:11pm
Working on my mental aspect of trading....it is a huge part and has been the cause of prior losing trades.

I agree it is very frustrating to really understand the strategy and to KNOW it is successfull and not be able to make it work.. So like you I am trying to concentrate on one or two signal triggers, and then add on from there..

Good Luck Too Both of US . Ken Lee
Good Trading To All ; Ken Lee
  • #12,039
  • May 12, 2009 8:11pm May 12, 2009 8:11pm
Quoting KENNETH lEE
As long as it works for you.. price is over 20 pips difference between the sma and ema on mine.. But if it's working might have to change mine will keep and eye on you.. You will for sure get more signals like that the 50 and 35 are closer together that way..
That's what I like about it, because they are closer together, if you look back at the earlier GU chart I posted those were from the 35/50ema's, that was the reason I took that trade...missed the one around noon because I had to attend a luncheon, but I like it so far.

HOLLA
  • #12,040
  • Edited 8:32pm May 12, 2009 8:19pm | Edited 8:32pm
Quoting KENNETH lEE
Working on my mental aspect of trading....it is a huge part and has been the cause of prior losing trades.

I agree it is very frustrating to really understand the strategy and to KNOW it is successfull and not be able to make it work.. So like you I am trying to concentrate on one or two signal triggers, and then add on from there..

Good Luck Too Both of US . Ken Lee
And I quote from the book....

Because there is so much information and because so much of that information is conflicting, the beginning trader will need specifically to limit his awareness of market information to which he allows himself/herself to be exposed. More is not better: it creates confusion and overload that will ultimately lead to losses. ( That was me for sure)

You need to start as small as possible and then gradually allow yourself to grow into greater and greater amounts of market information.

Remember none of us at the early stages can move the market.

Great job Ken Lee...we will all make it there, one trade at a time.

HOLLA
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