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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

  • #13,821
  • Jun 1, 2009 11:16am Jun 1, 2009 11:16am
Quoting PippiNole
Shorted EJ at 137.00.

went long at the 10 ema
Good Trading To All ; Ken Lee
  • #13,822
  • Jun 1, 2009 11:19am Jun 1, 2009 11:19am
Quoting KENNETH lEE
went long at the 10 ema
Be careful we have already done the daily range and we have bumped up against a resistance level on my daily chart.
  • #13,823
  • Jun 1, 2009 11:22am Jun 1, 2009 11:22am
Quoting KENNETH lEE
That is the same thing I am struggling with.. Really Really know almost all the setups and understand most price action. But getting the loose nut between the seat and the Keyboard to cooperate is the hardest thing. Never in my life would I have dreamed of a struggle as bad as this. Keep trying to come up with some type of excrises to help improve on it. But I guess just don't give up and keep on trucking.

But great news on the success you ae having and we will get better as we go along.
Im really struggling with entering on these pullbacks from the 5, 10 or 21.

I know we are in a strong uptrend but when price is heading back down my head is not letting me enter, yet time and time again there is another decent move from the ma's

Need to have a word with myself
  • #13,824
  • Jun 1, 2009 11:25am Jun 1, 2009 11:25am
Quoting riggster
Im really struggling with entering on these pullbacks from the 5, 10 or 21.

I know we are in a strong uptrend but when price is heading back down my head is not letting me enter, yet time and time again there is another decent move from the ma's

Need to have a word with myself
I think you should give yourself a right good rollocking :-)
  • #13,825
  • Jun 1, 2009 11:28am Jun 1, 2009 11:28am
Quoting PippiNole
Be careful we have already done the daily range and we have bumped up against a resistance level on my daily chart.

For sure took 15 on it and close loking for a better retrace and reentry back to the top hopefully
Good Trading To All ; Ken Lee
  • #13,826
  • Jun 1, 2009 11:34am Jun 1, 2009 11:34am
Quoting BenScoobert
I think you should give yourself a right good rollocking :-)
Need to do something mate....its one area im missing out on pippys
  • #13,827
  • Jun 1, 2009 11:35am Jun 1, 2009 11:35am
Quoting KENNETH lEE
For sure took 15 on it and close loking for a better retrace and reentry back to the top hopefully
Ok cool.
  • #13,828
  • Jun 1, 2009 11:40am Jun 1, 2009 11:40am
I'm on the side and I'm going to take a break for a little while. See ya later.
  • #13,829
  • Jun 1, 2009 11:44am Jun 1, 2009 11:44am
Quoting riggster
Im really struggling with entering on these pullbacks from the 5, 10 or 21.

I know we are in a strong uptrend but when price is heading back down my head is not letting me enter, yet time and time again there is another decent move from the ma's

Need to have a word with myself

Yes it goes against our logic but logic be damn it works. If the only thing we did was to take trades off the ma's we would do great at trading. Look at the gbp today 3 bounces off the 21 ema. Good for well over a 110 then a bounce off the 10 ema for over 60.. with a tight stop we should do fine and we will learn the finer points as we go.

Beats the hell outa of thinking your in at the top or bottom just to get s#@t kicked outa of you.. At least with the ma's we have a line and if we notice price action at them they do start to make more sense. It will get easier with time .. Like jumping out of a plane. Geronimo !!!!!!

Damn should have re-entered the E/J at the second touch of the 10 ema 30 pipper..
Good Trading To All ; Ken Lee
  • #13,830
  • Jun 1, 2009 11:48am Jun 1, 2009 11:48am
Quoting KENNETH lEE
Yes it goes against our logic but logic be damn it works. If the only thing we did was to take trades off the ma's we would do great at trading. look at the gbp today 3 bounces off the 21 ma. good for well over a 110 then a bounce off the 10 eam for over 60.. with a tight stop we should do fine and we will learn the iner points as we go.

Beats the hell outa of thinking your in at the top or bottom just to get s#@t kicked outa of you.. At least with the ma's we have a line and if we notice price action at them they do start to make more sense....
Funny you should say that...Skydiving is my hobby!!

No problems jumping out of planes ...but cant pull the damn trigger when we hit a MA!!
  • #13,831
  • Jun 1, 2009 11:55am Jun 1, 2009 11:55am
Quoting riggster
Funny you should say that...Skydiving is my hobby!!

No problems jumping out of planes ...but cant pull the damn trigger when we hit a MA!!
I am not starting trouble ,,but to help me with the ma entries I have a small 1 min chart I use when we are ranging it shows the the turns faster. Might help mentally..
Good Trading To All ; Ken Lee
  • #13,832
  • Jun 1, 2009 1:03pm Jun 1, 2009 1:03pm
Quoting KENNETH lEE
That is the same thing I am struggling with.. Really Really know almost all the setups and understand most price action. But getting the loose nut between the seat and the Keyboard to cooperate is the hardest thing. Never in my life would I have dreamed of a struggle as bad as this. Keep trying to come up with some type of excrises to help improve on it. But I guess just don't give up and keep on trucking.

Ken, this is exactly what I think about many times when thinking about a live account, which I am not yet near to having....so to be fair, I admit I have no practical knowledge of handling a real account yet...but I have put much thought into "how am I going to handle this for real?" scenario:

Although it is only a theory, and I admire you guys for admitting your vulnerabilities, I think I would have to "thicken my skin", so to speak, with an account that I would not mind testing the waters with....namely, a micro-account.......something where I can apply theory without hurting myself financially too much....if I threaten an account worth relatively small $, then at least all that has been damaged is my pride, not my pockets.
Trade your main account as you do now, but use the micro account to be a bit brazen for yourself, and be your own renegade where it is safe to be one.....you'll still reap the profits, if only a smaller profit...but, pips are pips. Lessening your internal fear of loss by allowing the pips to come and go without the monetary consequence behind it may help rebuild that confidence level within. Or, at least regain some more of a clearer perspective in it....small gains at first...keep building upon it.

You offer so much basic knowledge that many of us newbies need, I figure I would counter by offering a reminder. Thanks.

Thanks for your excellent charts and explanations over the weekend...they are VERY helpful in cementing the thread's intent and lessons.

Ez
  • #13,833
  • Jun 1, 2009 1:46pm Jun 1, 2009 1:46pm
Quoting EzRidr62
Ken, this is exactly what I think about many times when thinking about a live account, which I am not yet near to having....so to be fair, I admit I have no practical knowledge of handling a real account yet...but I have put much thought into "how am I going to handle this for real?" scenario:

Although it is only a theory, and I admire you guys for admitting your vulnerabilities, I think I would have to "thicken my skin", so to speak, with an account that I would not mind testing the waters with....namely, a micro-account.......something where...
EZ; Thanks for your input// I actually tried to remove all that stuff from the weekend it wasn't what I wanted to get across and was way to fractured. I have really never traded demo. Even with real money if it isn't a realistic amount I have trouble acting like it is important. I think part of the issue is money has never been that important to me . Just a means to a end.

I actually have 3 live accounts and one is a micro , But use it for set it and forget it trades (Longer Term). there is a potential problem in your text above .

I have found that it is normally detrimental for some people to switch to demo or a lesser account. Because as you stated they can become a renegade with it. We have to train ourselves to always be looking for the proper trading setups . weighing everything and then assigning a risk to it. If we want to take a riskier trade we might not load it up with to many soldiers. Then when it shows its true colors we can add to it. So better to start small and compound your account if you feel your struggling lessing the amount you are risking per trade. I would not continue to trade a live account if i thought I didn't have a great system to trade. I still win 8 to 9 out of 10 but not taking enough profit and letting stops run a bit far some times.

But when I get into a trade the right way and the screen goes to green in a timelly fashion it is a great feeling. Worth repeating. I am slowlly getting there but it has been a trip for sure.. The funny thing is once you get IT. The change is so drastic. even the finacial part. It will come like water. Then you will say What was hard about this. The key is to learn, a lot of people don't learn anything they want a silver bullet to fame..

Again Thanks ,Trade Happy Ken

Damn look at those 21 ema trades both pairs... This time of day you get in and out. both could have taken 20 and covered I took the gbp but missed the E/J. If you look at the E/J sometimes they don't exactlly touch but a s in most of our trading we are looking at a area not a exact point.

another book sorry. ken
Good Trading To All ; Ken Lee
  • #13,834
  • Jun 1, 2009 2:41pm Jun 1, 2009 2:41pm
Quoting KENNETH lEE
.............there is a potential problem in your text above .

I have found that it is normally detrimental for some people to switch to demo or a lesser account. Because as you stated they can become a renegade with it. We have to train ourselves to always be looking for the proper trading setups . weighing everything and then assigning a risk to it. ......... ken
You are correct in that statement, perhaps I chose the word "renegade" and used it too liberally..... I did not intend to mean that trades or money management should be taken in a cavalier fashion....but, rather that the intent was to lesson one's fears about a highly probable outcome by lowering the potential loss attached to it. Sorry for misleading comment.

I'm glad you were unable to remove what you posted. I took something productive away from it, without skewing the thread's original intent.

Ez
  • #13,835
  • Jun 1, 2009 7:20pm Jun 1, 2009 7:20pm
Ken did you get either of those moves?
  • #13,836
  • Jun 1, 2009 7:36pm Jun 1, 2009 7:36pm
Quoting PippiNole
Ken did you get either of those moves?

No took the small long now waiting for it to turn back. Thinking that was due to the news will see if we get a long signal in a bit. Always seem to be on the wrong side of the fence.
Good Trading To All ; Ken Lee
  • #13,837
  • Jun 1, 2009 7:39pm Jun 1, 2009 7:39pm
Quoting KENNETH lEE
No took the small long now waiting for it to turn back. Thinking that was due to the news will see if we get a long signal in a bit. Always seem to be on the wrong side of the fence.
I was still short on EJ from the 3:30 pinbar. I was looking for at least a 38% retrace to 136.00. I shorted the GU off the flat candle and took profit at the 50 ema.
  • #13,838
  • Jun 1, 2009 7:49pm Jun 1, 2009 7:49pm
Quoting PippiNole
I was still short on EJ from the 3:30 pinbar. I was looking for at least a 38% retrace to 136.00. I shorted the GU off the flat candle and took profit at the 50 ema.

Yes I should have taken that short from the 35 sma . But still a bit nervous around news time.. Plus still working on looking for the next trade while in a trade already. Because a lot of times the end of one trade is the exact point to enter even a better trade.
Good Trading To All ; Ken Lee
  • #13,839
  • Jun 1, 2009 7:55pm Jun 1, 2009 7:55pm
Quoting KENNETH lEE
Yes I should have taken that short from the 35 sma . But still a bit nervous around news time.. Plus still working on looking for the next trade while in a trade already. Because a lot of times the end of one trade is the exact point to enter even a better trade.
I have my goal for the evening so I'm going to call it a night. See ya tomorrow.
  • #13,840
  • Jun 1, 2009 7:56pm Jun 1, 2009 7:56pm
Quoting PippiNole
I have my goal for the evening so I'm going to call it a night. See ya tomorrow.

Great day today .... Take care just took the long ... Good Evening..
Good Trading To All ; Ken Lee
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