Trade what you see NOT what you expect

Looks like my trade has survived the bounce down off 5900.....let's hope so!

took 15 and locked in...hope it is not to early but risk free now!

Morning all.

Inverted shampoo on m15 and H1 forming.

took another 25 off this trade.....1 soldier left running now!

may take a short around 5920 if it looks good. upper TL on 15m.

Guys..I just added to this long on the retest of 5900....We will see!

My 20 pip stop held again but i closed the long from 03 with +2.

Closed the last of my long from 5880 there also!

Holiday and all.....i am done till early asian.

Ken Lee.......i read your post about tight stops! I have been thinking about bring that topic up for a while now but the last time i recommended tight stops like that in the "other" thread.....i was berated, ridiculed and called names.

Perhaps we should get EO's and Infinity's take on it. I remember last week Infinity had a P.O. set at 5550. I think, and priced looked to have spiked down against him 40 or so.....but the trade was good for a couple hundred.

My style is 20 pip stops.....i really try to hold to that but i would not recommend it to anybody. It has it's own issues but as u say, the good calls u make seem to never go against u for long........ and holding a bad trade has always been the first step of a "12 Step Margin Call" for me!

So focus and make good calls is my theory and your stops will not matter.

I don't mean for it to be the, be All/end all. Just a place where some that are struggling can start.. Some of the more exprienced traders Including EO and Infinity . They might enter off a 15 min chart knowing that it may go against them to another level they have a eye on. So this might be predetermined in there risk factor..

Some of us newer traders might follow them not knowing that, risking more. It is a money management issue but some haven't gotten any money to mange LOL. No really it is just something some are still dealing with how to manage those types of trades.

I am thinking a bunch of people here started off longer term trading verses short term they are to different styles and have different rules mainlly stops. Like a comparing a sprinter to a marathon racer.

The tight stops aren't right all the time but they can be a starting point.. and even EO has times he uses them. But I am just saying we have to start somewhere and we have to survive the learning curve. It would be better to use tight stops to begin with than the other way around to conserve funds. If you went the other way you could lose more than you take in.

Look at today on the GBP tight stops would have worked all day, and should have been used due to low volume. If we are getting in at the right spot they work most of the time. I believe though I am not sure because I have not traded long term (BUT want To Learn) That they place stops at the swings but just use higher time frame swings that is basicly the only difference.

The information gained here on the thread is SO SO vauable the entry levels the possible targets how to scale in and out of trades where to place stops. It is all great . But when the dust clears what works for Tom might not work for Bob. And as we grow as traders in exprience and confidence our trading will also change and grow.

I don'rt know about you all , But the worste thing about learning to trade is knowledge overload. I have been pretty lucky as I have always only focused on the movement of the price on the charts. i never felt when this indicator jumps throught his hoop and clears the moon go short was the way. It took a leap of faith to use this MA's as floating S/R lines but they are worthy of the faith given to take the trades. So if we are ging to have them on our charts we have to start trusting them.

Again long winded. feel like a damn politician.. Happy Memorial Day Ken

ps I managed to scrap 30 pips together today. Was in positions capable of producing over 200. But that aint my style. URGGG!!!

I remember the trade it was a set and forget it trade for EO I believe, Those are another animal all together which would almost always require a bigger stop because you aren't there to view the the way price is acting . When we read about those trades we need to take the time and go to our charts and look at where they are saying they placed the stop. This will help us to learn the why's and hows of those trades.

Normally you place a PO at one level or area it may turn and your stop below or above the next level in case it went a bit further. Fib traders use the next fib level S/R traders use the next S/R area. Are enter at one ma and stop if it breaks through them all. So on and so forth.

Just how I see it.. But Ask Infinty he is great about answering any questions..

I love this thread for that reason. Everyone is willing to share their knowledge.

I sure like the Asian session with the Mistress.

Where did you take it at the bottom132.60 ? I took it of the retest of the ma's 132.86'ish

132.69 after the IB.

Ken did you take the GU off the 200 sma?

Good eye ...

not mine that time difference thingy.. mine is still at 1.5888

should have taken it off the hangman but I got here a little later than then.

Ok cool. I took a quick 12 pips on this EJ short and now I'm flat on EJ and 1 north bound on GU. Going to bed shortly so I will see you in the A.M.

wondering if I should have taken the bounce off the 10 on the E/J ...

Good deal.. See you later.... I am not going to be here long either.