Trade what you see NOT what you expect | Page 746 | 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 And Not What You Hope 0 replies

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Trade what you see NOT what you expect

  • #14,901
  • Jun 9, 2009 12:37pm Jun 9, 2009 12:37pm
Quoting KENNETH lEE
PS I also have again reliazed I knew this before but forgot it. That as long as I don't get aggrevated and quit trading I stand a good chance of making my losses back up pretty quick. Plus I learn again and again that the smaller the loss the faster I am back on top....
The 80 odd wins I had, every one had a 3pip trailing stop.
Statistically its very likely that thought out entries WILL move the 6pips i needed to get the TS placed, from there i had no need to watch the trades.

It was just a few days of practicing entries really. I printed off you flash cards at the weekend, got them pinned hanging above the monitor.
  • #14,902
  • Jun 9, 2009 12:40pm Jun 9, 2009 12:40pm
Quoting BenScoobert
The 80 odd wins I had, every one had a 3pip trailing stop.
Statistically its very likely that thought out entries WILL move the 6pips i needed to get the TS placed, from there i had no need to watch the trades.

It was just a few days of practicing entries really. I printed off you flash cards at the weekend, got them pinned hanging above the monitor.
Hey Ben, here's something for you to consider. Once your in a trade, TP on 2/3 or 1/2 the position at 20 or 25 and then use a TS on the rest with TS being 20-25 pips. This way, your booking more profit and able to walk away from the remaining position without worries of being stopped out too soon.
Just digging in the trenches like everyone else!
  • #14,903
  • Jun 9, 2009 12:56pm Jun 9, 2009 12:56pm
Quoting eohater
Hey Ben, here's something for you to consider. Once your in a trade, TP on 2/3 or 1/2 the position at 20 or 25 and then use a TS on the rest with TS being 20-25 pips. This way, your booking more profit and able to walk away from the remaining position without worries of being stopped out too soon.
And there lies my next problem, picking a trade which has 20 or more pips to go and doesnt reverse to scare the crap out of me, then I close it, then it goes the way I wanted.
  • #14,904
  • Jun 9, 2009 12:57pm Jun 9, 2009 12:57pm
Quoting BenScoobert
And there lies my next problem, picking a trade which has 20 or more pips to go and doesnt reverse to scare the crap out of me, then I close it, then it goes the way I wanted.
What sessions are you trading Ben?
Just digging in the trenches like everyone else!
  • #14,905
  • Jun 9, 2009 1:02pm Jun 9, 2009 1:02pm
Quoting eohater
What sessions are you trading Ben?
Most of the NY session, I usually miss the first hour or so.
  • #14,906
  • Jun 9, 2009 1:16pm Jun 9, 2009 1:16pm
Quoting BenScoobert
Most of the NY session, I usually miss the first hour or so.
I see. How about Asian session, do you trade it? You probably don't have the opportunity to trade the London session.
Just digging in the trenches like everyone else!
  • #14,907
  • Jun 9, 2009 1:20pm Jun 9, 2009 1:20pm
Tokyo
Japan Asia/Tokyo 12:00 AM
10-June-2009 08:00 AM
10-June-2009


Sleepy hours :-)
  • #14,908
  • Jun 9, 2009 1:29pm Jun 9, 2009 1:29pm
Quoting eohater
I'm adjusting my TP on my long position for the final soldier to come off at 6375. Might not get it, but I'm this far up, might as well aim for the stars.

Also, we have the two faced card Geithner speaking right now. Who knows what he'll say today that'll contradict what he said last time.
It's coming! 6375!
Just digging in the trenches like everyone else!
  • #14,909
  • Jun 9, 2009 1:35pm Jun 9, 2009 1:35pm
Quoting eohater
It's coming! 6375!
stick or twist?
  • #14,910
  • Jun 9, 2009 1:37pm Jun 9, 2009 1:37pm
Quoting BenScoobert
stick or twist?
You got me on that one bro! What do you mean?
Just digging in the trenches like everyone else!
  • #14,911
  • Jun 9, 2009 1:39pm Jun 9, 2009 1:39pm
Quoting eohater
You got me on that one bro! What do you mean?
Stick with your 1st answer or change it(twist)

like in pontoon or blackjack
  • #14,912
  • Jun 9, 2009 1:41pm Jun 9, 2009 1:41pm
Quoting BenScoobert
Stick with your 1st answer or change it(twist)

like in pontoon or blackjack
I'm gonna stick with the 6375 for my final TP on my long position. It's been a good position. I would like to short it once it gets there.
Just digging in the trenches like everyone else!
  • #14,913
  • Jun 9, 2009 1:43pm Jun 9, 2009 1:43pm
Quoting eohater
I'm gonna stick with the 6375 for my final TP on my long position. It's been a good position. I would like to short it once it gets there.
why 6375?
im looking back 4 days to the jump north, are you picking that from there?
  • #14,914
  • Jun 9, 2009 1:46pm Jun 9, 2009 1:46pm
Quoting eohater
That's funny! I've got that same price from my h1 charts without trendlines. Here's where I'm pulling it from, notice the red circled areas.
Ben, check out this post. I'm pulling 6375 as a non-greedy TP area based upon the h1.
Just digging in the trenches like everyone else!
  • #14,915
  • Jun 9, 2009 1:47pm Jun 9, 2009 1:47pm
I closed my last soldier on GU at 6352. That was a nice run for the day.
  • #14,916
  • Jun 9, 2009 1:49pm Jun 9, 2009 1:49pm
Quoting eohater
Ben, check out this post. I'm pulling 6375 as a non-greedy TP area based upon the h1.
Got ya, I wouldnt have spotted the other 3 areas if i tried. More to learn.

So by the same logic, if you short there, will you be looking to unload a few at the 6120 area?
  • #14,917
  • Jun 9, 2009 1:49pm Jun 9, 2009 1:49pm
Quoting PippiNole
I closed my last soldier on GU at 6352. That was a nice run for the day.
Excellent job bro! I might regret not doing the same, but I'm holding til the h4 closes and I'll assess the position there. Either way, I'm not at a loss, but I can see this swinging south at the same time.
Just digging in the trenches like everyone else!
  • #14,918
  • Jun 9, 2009 1:52pm Jun 9, 2009 1:52pm
Quoting BenScoobert
Got ya, I wouldnt have spotted the other 3 areas if i tried. More to learn.

So by the same logic, if you short there, will you be looking to unload a few at the 6120 area?
I would, but I would also be targeting my ma's. For example. If I would get the short at 6375 I would target the h1 10 for some TP. Managing the trade on the 15m and TP of couse at the 35/50
Just digging in the trenches like everyone else!
  • #14,919
  • Jun 9, 2009 1:52pm Jun 9, 2009 1:52pm
short at 6335
  • #14,920
  • Jun 9, 2009 1:54pm Jun 9, 2009 1:54pm
Quoting bosko
short at 6335
Good job! Take a look at your entry. I'm sure you entered off the pin on the 15m. Notice how the following 15m candle moved up to the open price of the pin? Not that your entry is bad, and there are times where it will not move up to the opening price, but you could set a PO for that price and got pulled in. Just thoughts!
Just digging in the trenches like everyone else!
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