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Trade what you see NOT what you expect

  • #13,601
  • May 29, 2009 7:00am May 29, 2009 7:00am
Quoting Shilva
take a look at this u guys......

I attached a Moving Average Cross automatic trading system to the ma's we use just to see if i could get some signals to generate around the candle patterns we look for...........


Sounding board...let's have some feedback.

Nice find, Shilva, I myself was using a system called Wizetrade, and after trying to learn it for 6 months, am starting to give up on it altogether. The idea of placing trades simply on the existence of a cross is exactly what WT software tells you to do. But, after getting caught in so many bad trades (I averaged 1 good trade for every 10-15 bad ones) and my fried brain about to give up on learning trading altogether, my logic figured there HAD to be more reasons for sudden movement that was being hidden from me. After I started coming here, and getting caught by the catchy phrase, "Trade what you see,NOT what you expect", which was basically ALL I could do with that software, I began to understand that I was not wrong, but that it was my logic being misled by a bunch of false indicators. Learning how to read candles is such an eye and mind opening experience after 6 months of feeling like I was trading in the dark, I'll never go back. It's all up from here. Just my $.02. I'd rather be able to see all the raw data than have it hidden from me and just trade crosses.
Great job on the "out of the box" thinking,though. Original thinkers like you will always find something useful to use in their own right. Keep trying new things, nothing is wasted. I'm sure EO did a lot of that to find his system.

Ez
  • #13,602
  • May 29, 2009 7:03am May 29, 2009 7:03am
Quoting Shilva
take a look at this u guys......

I attached a Moving Average Cross automatic trading system to the ma's we use just to see if i could get some signals to generate around the candle patterns we look for.

I tried all the ma's. The 10ema (red line) crossing the 50sma (blue line)seems to work the best!

If it crosses up a short signal is generated. Down is the long.

Can any of y'all see what i am talking about or am i nuts! As long as it stays in a range it seems to work so far.

Looks like a nice little scalper to me

Sounding board...let's...
Hey Shilva, I see what your talking about, but you said the key, if it stays in a range. You'll notice that once she breaks out of the range, a cross up would generate a long signal and a cross down would generate a short signal. There are some that trade the cross up for longs and cross downs for shorts based upon the angle of the cross and how wide the mouth is once the cross occurs. We have to remember that the ma's follow price, so fake signals could be generated by solely relying upon the ma's.

Could be good for some nice scalping during the Asian session or even late US Session, but I would be careful of the breakout times during the opening of London and opening of the US Sessions.

Trade well bro!
EO
Just digging in the trenches like everyone else!
  • #13,603
  • May 29, 2009 7:07am May 29, 2009 7:07am
Quoting EzRidr62
.....Great job on the "out of the box" thinking,though. Original thinkers like you will always find something useful to use in their own right. Keep trying new things, nothing is wasted. I'm sure EO did a lot of that to find his system.

Ez
In deed, but it all comes back to the foundation. The foundation of this system is what's the strongest.

Ez, good job on your development!
Just digging in the trenches like everyone else!
  • #13,604
  • May 29, 2009 7:33am May 29, 2009 7:33am
Quoting eohater
In deed, but it all comes back to the foundation. The foundation of this system is what's the strongest.

Ez, good job on your development!

Ok,
Ken and I have shared our views on what we thought was the foundation....
care to elaborate (at least for a newbie like me) whether we (more like I) are close?

I just bought a copy of Steve Nison's Candlestick Trading Study guide, along with the online version thru Amazon, and I can't put it down..... it's great! So much of what is there is happening live right here.... you guys are like a "live Lab" of what I'm learning. After what seems like such a long time spent wishing there was something logical I could apply to trading, I am finally finding it. At last, there is room in this business for a "technician" mentality like mine to excel.

Thanks so much for the vote of confidence, from both you, and the rest of the traders here. I think I found a new home.

Ez
  • #13,605
  • May 29, 2009 8:04am May 29, 2009 8:04am
Quoting eohater
Hey Shilva, I see what your talking about, but you said the key, if it stays in a range. You'll notice that once she breaks out of the range, a cross up would generate a long signal and a cross down would generate a short signal. There are some that trade the cross up for longs and cross downs for shorts based upon the angle of the cross and how wide the mouth is once the cross occurs. We have to remember that the ma's follow price, so fake signals could be generated by solely relying upon the ma's.

Could be good for some nice scalping during...
You're exactly right Eo....I started out trading ma crosses. I have tried a lot of different styles over the years. News, trend lines, swing trading, ma crosses, fibo's, Elliott waves.....u name it i have tried it! The ma's as support and resistance along with candle recognition is this best trading system i have found.

The weakest link in my trading is during consolidation or ranging so i was just playing around trying to see if i could get something that might help.
I was surprised that i could generate signals from lagging indicators that even seem to relate to our style and i certainly would not place a trade because of them. When price breaks out a false signal will definitely pop up.

Sorry to deviate from the fundamentals here......thought it might be interesting or at least just something to talk about.
  • #13,606
  • May 29, 2009 8:15am May 29, 2009 8:15am
EzRidr62...Shilva

Great job on your trading....it's is a constant learning process and everyone has to figure out which method applies best for them.

Hope everyone is doing well today.

I'm in demo mode since I already had my pip basket full this week. I working on trading higher time frames to include it with my daily EO/Infinity method. :nerd:

HOLLA
  • #13,607
  • May 29, 2009 8:39am May 29, 2009 8:39am
I tried a crazy trade during sleep and woke up to some lost some pipparroons...
I had an order at 6010 with stop at 6092 pt1 at 5880.... Don't have to say how that worked out....

No worries though.... it has been a good week and it was a relatively small loss compared to the gains obtained during the week. It's winding down time for me now and only looking at the charts for another 2 hrs or so...
Patience + Discipline - Greed = Success
  • #13,608
  • May 29, 2009 8:40am May 29, 2009 8:40am
Quoting Turtle
EzRidr62...Shilva
.................


I'm in demo mode since I already had my pip basket full this week......
Way to go,Turtle!
  • #13,609
  • May 29, 2009 8:51am May 29, 2009 8:51am
Quoting Infinity
I tried a crazy trade during sleep and woke up to some lost some pipparroons...
I had an order at 6010 with stop at 6092 pt1 at 5880.... Don't have to say how that worked out....

No worries though.... it has been a good week and it was a relatively small loss compared to the gains obtained during the week. It's winding down time for me now and only looking at the charts for another 2 hrs or so...
Sorry to here you gave some back.

I had a sleep trade that had the opposite consequence. Got out of bed for London just in time to take a 5 ema trade on GU. I was filled at 1.6022 long. Took 40 off covered and went back to bed. Got back up at 7 to a pleasant surprise.

I'm done for the week and it was a very good one.
  • #13,610
  • May 29, 2009 8:54am May 29, 2009 8:54am
unlucky there infin, minor for u bro!!

looking to buy closer to 1.6000 alot of things leading to support there....
Trading is 80% Emotional, 20% Technical
  • #13,611
  • May 29, 2009 8:54am May 29, 2009 8:54am
Quoting PippiNole
Sorry to here you gave some back.

I had a sleep trade that had the opposite consequence. Got out of bed for London just in time to take a 5 ema trade on GU. I was filled at 1.6022 long. Took 40 off covered and went back to bed. Got back up at 7 to a pleasant surprise.

I'm done for the week and it was a very good one.
It's ok bro! Congrats on your trade! I was too tired to wake up during London session... if I did, things would have been different....
Patience + Discipline - Greed = Success
  • #13,612
  • May 29, 2009 8:56am May 29, 2009 8:56am
Quoting Infinity
I tried a crazy trade during sleep and woke up to some lost some pipparroons...
I had an order at 6010 with stop at 6092 pt1 at 5880.... Don't have to say how that worked out....

No worries though.... it has been a good week and it was a relatively small loss compared to the gains obtained during the week. It's winding down time for me now and only looking at the charts for another 2 hrs or so...
No worries bro! You saw the one I gave back yesterday, but I turned around and shorted her higher at 1.6 and got them right back in my brigade. It's been a good week bro! Let's finish it out with a bang.

BTW, I went long at 6020 last night and took out this morning at 6155. I might be done for the day, but this 35/50 cross is setting up just asking for me to take it, so I don't think I can say no.
Just digging in the trenches like everyone else!
  • #13,613
  • May 29, 2009 8:58am May 29, 2009 8:58am
Quoting fx local
unlucky there infin, minor for u bro!!

looking to buy closer to 1.6000 alot of things leading to support there....
Thanks bro! I actually just took a long at 70.... took 20 pips already and covered...
Patience + Discipline - Greed = Success
  • #13,614
  • May 29, 2009 9:01am May 29, 2009 9:01am
Quoting Infinity
Thanks bro! I actually just took a long at 70.... took 20 pips already and covered...

good stuff, missed the trick there, wanted more greedy entry!

will be buying dips now thou
Trading is 80% Emotional, 20% Technical
  • #13,615
  • May 29, 2009 9:01am May 29, 2009 9:01am
Quoting eohater
No worries bro! You saw the one I gave back yesterday, but I turned around and shorted her higher at 1.6 and got them right back in my brigade. It's been a good week bro! Let's finish it out with a bang.

BTW, I went long at 6020 last night and took out this morning at 6155. I might be done for the day, but this 35/50 cross is setting up just asking for me to take it, so I don't think I can say no.
Thanks bro! Yup.... were seeing the same thing!

It was a small loss because I didn't put much on it.... I am always cautious with the orders that I leave on overnight....
Patience + Discipline - Greed = Success
  • #13,616
  • May 29, 2009 9:01am May 29, 2009 9:01am
Quoting Infinity
Thanks bro! I actually just took a long at 70.... took 20 pips already and covered...
Damn nice entry bro! I pulled in at 6088 myself and I've taken some off at 6105 and covered on the rest myself.
Just digging in the trenches like everyone else!
  • #13,617
  • May 29, 2009 9:03am May 29, 2009 9:03am
Quoting Infinity
Thanks bro! Yup.... were seeing the same thing!

It was a small loss because I didn't put much on it.... I am always cautious with the orders that I leave on overnight....
I'm so cautious with PO's that I won't set them if I'm not going to be awake. You've got balls and do it all the time and have great success. I watched the h4 closed at midnight, took a little nap and woke up to watch it breakout of the 6015 ceiling it made yesterday.
Just digging in the trenches like everyone else!
  • #13,618
  • May 29, 2009 9:03am May 29, 2009 9:03am
Quoting fx local
good stuff, missed the trick there, wanted more greedy entry!

will be buying dips now thou
... I took some more profit at the 5ema... 6116
Patience + Discipline - Greed = Success
  • #13,619
  • May 29, 2009 9:07am May 29, 2009 9:07am
Quoting Infinity
... I took some more profit at the 5ema... 6116

Trading is 80% Emotional, 20% Technical
  • #13,620
  • May 29, 2009 9:09am May 29, 2009 9:09am
Quoting Infinity
... I took some more profit at the 5ema... 6116
Outstanding bro! A true master you are!
Just digging in the trenches like everyone else!
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