Trade what you see NOT what you expect | Page 610 | 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

  • #12,181
  • May 13, 2009 12:02pm May 13, 2009 12:02pm
Quoting riggster
Yes! very pleased. My mindset is starting to shape up. Im seeing how crucial entries are and all im looking for after entry is BE.

No rush loads of time

Broker wont let me move stop any closer than 10 from current price. But i guess thats not really an issue.
keep it up bro!
  • #12,182
  • May 13, 2009 12:09pm May 13, 2009 12:09pm
Quoting nAVIN2007
keep it up bro!
I will Bro! And if my dicipline strays there will be self flogging classes like Ken said after session close.

  • #12,183
  • May 13, 2009 12:19pm May 13, 2009 12:19pm
Quoting eohater
For others in the thread, if you don't know Mike W., then you need to take the time to go and read his posts. Mike is a highly skilled trader. He knows his shit and he has my utmost respect.
Hey now, no need to make me blush! haha

BTW, there's a 1 hour bearish pin that came out at 1 o' clock. Would I trade it? Maybe down to the 1.51 area and see where it goes from there. That's a pretty solid PPZ for the hourly anyway.
I dream, therefore I become.
  • #12,184
  • May 13, 2009 12:34pm May 13, 2009 12:34pm
Quoting eohater
This is for Riggster! Notice how what I said would happen happened? Thus why it is better to have both ma's on your 15m. Almost 40 pips in less than 20 min and ZERO draw down. Good trade if you ask me.
Just for shits and giggles, that trade is now valued over 70 pips. Damn, I wish I wouldn't have been at lunch.
Just digging in the trenches like everyone else!
  • #12,185
  • May 13, 2009 12:48pm May 13, 2009 12:48pm
Damn it...how come you didn't leave me any pips?
Hi, my name is Barry and you can keep your doctor...
  • #12,186
  • May 13, 2009 12:59pm May 13, 2009 12:59pm
Right guys im out for the day been here long enough!

Big thanks to everyone for the help today, great learning and highly appriciated.

See you tomorrow...Have a great afternoon.
  • #12,187
  • May 13, 2009 1:17pm May 13, 2009 1:17pm
Hey Eo,

I asked this earlier, but I guess you missed it. I was wondering if you have a rule where if a candle closes x pips beyond the 35/50 MAs, you won't take the reversal and see it as a continuation of trend instead just due to how far the candle closed beyond our MAs?

Cheers
  • #12,188
  • May 13, 2009 1:28pm May 13, 2009 1:28pm
Quoting daffy
Hey Eo,

I asked this earlier, but I guess you missed it. I was wondering if you have a rule where if a candle closes x pips beyond the 35/50 MAs, you won't take the reversal and see it as a continuation of trend instead just due to how far the candle closed beyond our MAs?

Cheers
Hey Daffy! I don't have a rule for it. If the candle closes through the ma's. I'll either take it right away or pause to see if it's going to go higher. A lot depends on how the candles are formed .
Just digging in the trenches like everyone else!
  • #12,189
  • May 13, 2009 1:56pm May 13, 2009 1:56pm
Quoting eohater
Hey Daffy! I don't have a rule for it. If the candle closes through the ma's. I'll either take it right away or pause to see if it's going to go higher. A lot depends on how the candles are formed .
Thanks for the response. I suppose it comes with experience and just watching enough 15/35 crosses, that you increase the odds of picking the ones that will provide profitable trades and those that won't.
  • #12,190
  • May 13, 2009 2:07pm May 13, 2009 2:07pm
Quoting daffy
Thanks for the response. I suppose it comes with experience and just watching enough 15/35 crosses, that you increase the odds of picking the ones that will provide profitable trades and those that won't.
Volume in the market bro! Like the one that happend today during the US lunch time. The trend had been established to be a downward trend, she hit a nice low, 200sma on the h1 and the 50sma on the h4. That sent her north to the 15m 35/50. Sellers started at the 21, 35/50, then bang she closed over the 35/50 and the 50sma was ontop, sellers jumped on with drool and drove her back down. Those are your trend traders that jumped on her, their not the traders like Infinity, myself and others who went long from the bottom, they waited for the price, then pounced. The 35/50sma cross and reverse is excellent once the trend for the day has been defined like it had been for us from London. Will the cross and reverse work everytime, no, hell no, but it will once we come off a new high or new low.
Just digging in the trenches like everyone else!
  • #12,191
  • May 13, 2009 2:15pm May 13, 2009 2:15pm
Quoting eohater
Volume in the market bro! Like the one that happend today during the US lunch time. The trend had been established to be a downward trend, she hit a nice low, 200sma on the h1 and the 50sma on the h4. That sent her north to the 15m 35/50. Sellers started at the 21, 35/50, then bang she closed over the 35/50 and the 50sma was ontop, sellers jumped on with drool and drove her back down. Those are your trend traders that jumped on her, their not the traders like Infinity, myself and others who went long from the bottom, they waited for the price, then...
Is that new high/low based on the daily or is it based on the current session???

HOLLA
  • #12,192
  • May 13, 2009 2:16pm May 13, 2009 2:16pm
looks as today will form a inside bar, a break of the extreme may be the way to go..

edit..resistance appears to be holding
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  • #12,193
  • May 13, 2009 3:29pm May 13, 2009 3:29pm
Quoting Turtle
Is that new high/low based on the daily or is it based on the current session???

HOLLA
You know bro, it's kinda hard to set one hard rule on it. If we're trending, then it would be the day, if it's ranging, then it would be the session. Notice how the buyers came in when we got to the opening of yesterday's daily candle? Also, notice how the sellers came in when we got near the prior days high? This is where you need your h4 and h1 charts to assist as well. Sellers came in hard when we got to 535x yesterday. The h4 closed with a small wick, then the following h4 candle was bearish and full but closed above the 5/10 on the h4. There were still sellers sitting there ready to jump on board when price got near there again. I believe baz had posted an h8 chart showing the selling interest. Price floated back up and the sellers came again. I wish I wouldn't have taken last night off, but I needed the break. My ass is over stressed with the office right now.

Now, looking forward, we're going to close the daily with an inside bar. More selling interest will be produced from this, I can see 509x again and should we clear that on the h4, we could see 488x. I don't believe we'll get there though. Buyers on the daily are waiting around 497x. But, should we clear 488x, then we could see 474x. Buyers will pounce on it should we get there. We see that price, I will be starting to build a nice swing position to hold for 1.60 and above. I asked the troups and their drooling for that march.
Just digging in the trenches like everyone else!
  • #12,194
  • May 13, 2009 3:39pm May 13, 2009 3:39pm
TIW
Hi, my name is Barry and you can keep your doctor...
  • #12,195
  • May 13, 2009 3:42pm May 13, 2009 3:42pm
Assessment of my swing trades:

UJ's first target of 96 was hit. Didn't think it would continue, but she's fallen almost another 100 pips since. I've taken some profit here at 95.30. I have 1 soldier left with a SL covered nice and green. At this point, if I'm stopped out, I'm fine, otherwise, my next TP target set is 92.60 and a far reach of 90. Again, I don't see it really go down much farther, but I'm in at a nice price, so let 'er ride.

EJ, targets have been hit and soldiers have been added. Next TP of 127 and a far reach of 121. I'll assess the position should we get to my next TP of 127 for the 121. I know earlier today, I pointed out 125, but my weekly is showing 121 as a target as well. Now, for those intraday trading her, she will provide many pips in both directions. I'm in at an outstanding price. I had pointed out a week before I took the trade what price level I was looking at to short. I truely hope some of you have joined me on this march.

I know I'm an intraday trader, but my old school has to be brought out when I get busy from being able to actively trade. I did not call the UJ trade, I just happened to fall into it. Sorry for not having my eyes wide open for everyone.
Just digging in the trenches like everyone else!
  • #12,196
  • May 13, 2009 3:52pm May 13, 2009 3:52pm
Quoting eohater
Assessment of my swing trades:

UJ's first target of 96 was hit. Didn't think it would continue, but she's fallen almost another 100 pips since. I've taken some profit here at 95.30. I have 1 soldier left with a SL covered nice and green. At this point, if I'm stopped out, I'm fine, otherwise, my next TP target set is 92.60 and a far reach of 90. Again, I don't see it really go down much farther, but I'm in at a nice price, so let 'er ride.

EJ, targets have been hit and soldiers have been added. Next TP of 127 and a far reach of 121. I'll assess...

Great job on those trades bro.....

Also thanks for that reply about the 35/50.....just adding all the info into my notes. Once I learn this, I can move on to learning how to look at long-term charts for S&R areas. :nerd:

One day and one trade at a time.

HOLLA
  • #12,197
  • May 13, 2009 4:47pm May 13, 2009 4:47pm
EO; On the 35/50 reverse trade.

Volume in the market bro! Like the one that happend today during the US lunch time. The trend had been established to be a downward trend, she hit a nice low, 200sma on the h1 CIRCLE B and the 50sma on the h4 CIRCLE C. That sent her north to the 15m 35/50. Sellers started at the 21, 35/50, then bang she closed over the 35/50 and the 50sma was ontop,CIRCLE A sellers jumped on with drool and drove her back down. Those are your trend traders that jumped on her, their not the traders like Infinity, myself and others who went long from the bottom, they waited for the price, then pounced. The 35/50sma cross and reverse is excellent once the trend for the day has been defined like it had been for us from London. Will the cross and reverse work everytime, no, hell no, but it will once we come off a new high or new low.
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Good Trading To All ; Ken Lee
  • #12,198
  • May 13, 2009 5:38pm May 13, 2009 5:38pm
Quoting KENNETH lEE
EO; On the 35/50 reverse trade.

Volume in the market bro! Like the one that happend today during the US lunch time. The trend had been established to be a downward trend, she hit a nice low, 200sma on the h1 CIRCLE B and the 50sma on the h4 CIRCLE C. That sent her north to the 15m 35/50. Sellers started at the 21, 35/50, then bang she closed over the 35/50 and the 50sma was ontop,CIRCLE A sellers jumped on with drool and...
Great post Ken Lee......

Just added it to my notes. :nerd:

HOLLA
  • #12,199
  • May 13, 2009 6:20pm May 13, 2009 6:20pm
Quoting KENNETH lEE
EO; On the 35/50 reverse trade.

Volume in the market bro! Like the one that happend today during the US lunch time. The trend had been established to be a downward trend, she hit a nice low, 200sma on the h1 CIRCLE B and the 50sma on the h4 CIRCLE C. That sent her north to the 15m 35/50. Sellers started at the 21, 35/50, then bang she closed over the 35/50 and the 50sma was ontop,CIRCLE A sellers jumped on with drool and...

Great post.
  • #12,200
  • May 13, 2009 6:21pm May 13, 2009 6:21pm
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