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Trade what you see NOT what you expect

  • #12,321
  • May 14, 2009 12:45pm May 14, 2009 12:45pm
Quoting eohater
Pippi, how's EJ treating you today?
She was good earlier but she is a little tired of going down so much so she is taking a break at a 38 fib level.
  • #12,322
  • May 14, 2009 12:59pm May 14, 2009 12:59pm
Quoting eohater
Yes sir, I agree! My next TP will be at 5245
YES!!!!! I stayed away all last night and this morning, trying to think on my own, watching the setups.... for the 1st time in a while, I'm green +42 over about 8 trades since last night, and just got a seat a little while ago at .5200 for what I estimated should be a long..... TP set for +43, I saw the head and shoulders and estimated she's working on the right shoulder as well...plus she still seems to be trending up on higher timeframes- I came on here, just to check and see what everyone else is up to, and I see I'm not too far from what you guys are also seeing... I'M LEARNING! WOOHOO!
  • #12,323
  • May 14, 2009 1:00pm May 14, 2009 1:00pm
Quoting PippiNole
She was good earlier but she is a little tired of going down so much so she is taking a break at a 38 fib level.
I agree, but I'm still short. I'll be looking to add to my position at the h1 62/50 and keep my position covered green. It's a no loss move for me to do such. I don't like how yesterday's daily candle closed and how today's daily is shaping up, but she's paid me well since Sunday so I cannot complain.
Just digging in the trenches like everyone else!
  • #12,324
  • May 14, 2009 1:01pm May 14, 2009 1:01pm
Quoting EzRidr62
YES!!!!! I stayed away all last night and this morning, trying to think on my own, watching the setups.... for the 1st time in a while, I'm green +42 over about 8 trades since last night, and just got a seat a little while ago at .5200 for what I estimated should be a long..... TP set for +43, I saw the head and shoulders and estimated she's working on the right shoulder as well...plus she still seems to be trending up on higher timeframes- I came on here, just to check and see what everyone else is up to, and I see I'm not too far from what you...
Good job on the positive pippage!
Just digging in the trenches like everyone else!
  • #12,325
  • Edited 1:07pm May 14, 2009 1:05pm | Edited 1:07pm
Careful with our longs!! 5217 has held her twice now.
Just digging in the trenches like everyone else!
  • #12,326
  • May 14, 2009 1:14pm May 14, 2009 1:14pm
I hope everyone is making pips today! I have been very busy all day.... I only managed 1 trade so far today...from 5090 to 5190.. Volume seems to be low in the market atm.... Waiting on the next h4 close..
Patience + Discipline - Greed = Success
  • #12,327
  • May 14, 2009 1:15pm May 14, 2009 1:15pm
Quoting eohater
I agree, but I'm still short. I'll be looking to add to my position at the h1 62/50 and keep my position covered green. It's a no loss move for me to do such. I don't like how yesterday's daily candle closed and how today's daily is shaping up, but she's paid me well since Sunday so I cannot complain.
Yes, I was in a long at 8:30 this morning looking for the 1hr 62 which is also near the 50% fib level but she decided to put the brakes on at the 38% level to take a break. She still gave me some nice green pips and I'm waiting for the 62 short as well.
  • #12,328
  • May 14, 2009 1:16pm May 14, 2009 1:16pm
Quoting eohater
Careful with our longs!! 5217 has held her twice now.
I think 524x is possible.... would love to see pa there....
Attached Image
Patience + Discipline - Greed = Success
  • #12,329
  • May 14, 2009 1:18pm May 14, 2009 1:18pm
Here's a Video I found the link too in Mike w's stuff.. Very interesting I am sure it corelates to smaller time frames also . but good for longing for higher time frame entries for sure..... Ken Lee

http://www.james16group.us/Guests/vi...troduction.wmv
Good Trading To All ; Ken Lee
  • #12,330
  • May 14, 2009 1:24pm May 14, 2009 1:24pm
Quoting Infinity
I think 524x is possible.... would love to see pa there....
5245 is my next set TP area. If PA is right, I'll reverse.

Good to see you bro!
Just digging in the trenches like everyone else!
  • #12,331
  • May 14, 2009 1:28pm May 14, 2009 1:28pm
At the risk of asking something already covered in the last 12000 posts or so, and being I've rarely had enough success to warrant this scenario, at what point in my money management and strategy should I condiser adding "extra soldiers" to a trade? Is it based on pips cleared, percentage of profit goal, total profit goal divided by X??? or should I have pulled the trigger on all, and taken one off on each set of pips up the ladder? if someone is not too busy, I could use some help in this theory.

Thanks in Advance
Ez
  • #12,332
  • May 14, 2009 1:45pm May 14, 2009 1:45pm
GBP_USD Spot.png

we are now at an intresting POINT.........

baz
Attached Image (click to enlarge)
Click to Enlarge Name: GBP_USD Spot.png Size: 14 KB
  • #12,333
  • May 14, 2009 1:46pm May 14, 2009 1:46pm
Quoting EzRidr62
At the risk of asking something already covered in the last 12000 posts or so, and being I've rarely had enough success to warrant this scenario, at what point in my money management and strategy should I condiser adding "extra soldiers" to a trade? Is it based on pips cleared, percentage of profit goal, total profit goal divided by X??? or should I have pulled the trigger on all, and taken one off on each set of pips up the ladder? if someone is not too busy, I could use some help in this theory.

Thanks in Advance
Ez
Ez, I wish I could give you a concrete answer to your question. A lot depends on your broker, for example, my broker blends my multiple orders into a price, for example, if I long at 5100 with 2 soldiers add at 5125 with 2 soldiers, then my blended price become 51125. As I add, my price gets averaged out. Some brokers open up new positions all together and don't blend. Once your comfortable with understanding how the system moves and works, you will become comfortable with adding more soldiers along the way.
Just digging in the trenches like everyone else!
  • #12,334
  • May 14, 2009 1:47pm May 14, 2009 1:47pm
Quoting eohater
Yes sir, I agree! My next TP will be at 5245
Target achieved on my 2nd TP level. I have not reversed yet and might be pissed.
Just digging in the trenches like everyone else!
  • #12,335
  • May 14, 2009 1:48pm May 14, 2009 1:48pm
Short EJ at 130.88.
  • #12,336
  • May 14, 2009 1:48pm May 14, 2009 1:48pm
Quoting baz
GBP_USD Spot.png

we are now at an intresting POINT.........

baz
Nice chart bro! People should take note of the circled areas you have on your chart.
Just digging in the trenches like everyone else!
  • #12,337
  • May 14, 2009 1:50pm May 14, 2009 1:50pm
Quoting PippiNole
Short EJ at 130.88.
Nice job bro! I missed it!
Just digging in the trenches like everyone else!
  • #12,338
  • May 14, 2009 1:51pm May 14, 2009 1:51pm
Quoting eohater
Ez, I wish I could give you a concrete answer to your question. A lot depends on your broker, for example, my broker blends my multiple orders into a price, for example, if I long at 5100 with 2 soldiers add at 5125 with 2 soldiers, then my blended price become 51125. As I add, my price gets averaged out. Some brokers open up new positions all together and don't blend. Once your comfortable with understanding how the system moves and works, you will become comfortable with adding more soldiers along the way.
I Understand perfectly. My PT engine works thru MB Trading, so it gets blended and averaged. I also just had my TP hit, and my TTO was set for 4 mini-lots, while my trade on the way up was for 2 mini-lots, so it sold my position for 2 and bought me into a short for 2 at .5245. Thanks for trying to answer.

Ez
  • #12,339
  • May 14, 2009 1:52pm May 14, 2009 1:52pm
15 in the bank.
  • #12,340
  • May 14, 2009 1:53pm May 14, 2009 1:53pm
Quoting EzRidr62
I Understand perfectly. My PT engine works thru MB Trading, so it gets blended and averaged. I also just had my TP hit, and my TTO was set for 4 mini-lots, while my trade on the way up was for 2 mini-lots, so it sold my position for 2 and bought me into a short for 2 at .5245. Thanks for trying to answer.

Ez
I'm with MB for my main account as well. Don't be afraid to add to positive positions. Good job on the close and reverse!
Just digging in the trenches like everyone else!
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