Trade what you see NOT what you expect | Page 747 | 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 NOT what you expect

  • #14,921
  • Jun 9, 2009 1:56pm Jun 9, 2009 1:56pm
Quoting bosko
short at 6335
If I had your position, I would have booked 10 by now. Not covered just yet, wait til the next 15m candle comes.
Just digging in the trenches like everyone else!
  • #14,922
  • Jun 9, 2009 1:56pm Jun 9, 2009 1:56pm
Quoting eohater
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
From 6375, would 100 pips wrong direction make you think you were wrong?

or would you be more or less than that?
  • #14,923
  • Jun 9, 2009 2:00pm Jun 9, 2009 2:00pm
Quoting BenScoobert
From 6375, would 100 pips wrong direction make you think you were wrong?

or would you be more or less than that?
I wouldn't hold the position upside down that long. If we continue north past 6375, next stop will be 6440, then 655x. 6375 - 6390 will be a tough cookie to break.
Just digging in the trenches like everyone else!
  • #14,924
  • Jun 9, 2009 2:01pm Jun 9, 2009 2:01pm
Quoting eohater
If I had your position, I would have booked 10 by now. Not covered just yet, wait til the next 15m candle comes.
Tnx Eo.... I'll analize my entry

I'm out (+10)
  • #14,925
  • Jun 9, 2009 2:04pm Jun 9, 2009 2:04pm
Quoting eohater
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.
Thanks, I hope you get your target. I was comfortable with the pippage I took off the trade and this time of day is generally pretty slow. I still have some longs on EJ. She is struggling again to break this 137.20 area but I have some nice profit and I'm covered on the remaining.
  • #14,926
  • Jun 9, 2009 2:04pm Jun 9, 2009 2:04pm
Quoting eohater
Ben, check out this post. I'm pulling 6375 as a non-greedy TP area based upon the h1.
I think you'll see 1.6375...maybe more.

It wouldn't surprise me to see 1.6433 tested again.
Hi, my name is Barry and you can keep your doctor...
  • #14,927
  • Jun 9, 2009 2:04pm Jun 9, 2009 2:04pm
Quoting bosko
Tnx Eo.... I'll analize my entry

I'm out (+10)
Bro, your entry was fine, I'm just pointing out fine details to take you to the next level. Good job on your +10.
Just digging in the trenches like everyone else!
  • #14,928
  • Jun 9, 2009 2:16pm Jun 9, 2009 2:16pm
Quoting cisco
I think you'll see 1.6375...maybe more.

It wouldn't surprise me to see 1.6433 tested again.
I've got that area on my charts as well, but 6375 will be the end of the line for this long position. It's only one soldier covered at +200. I'm already starting to feel like I was greedy by not TP at 6360.
Just digging in the trenches like everyone else!
  • #14,929
  • Jun 9, 2009 2:23pm Jun 9, 2009 2:23pm
Quoting eohater
I'm already starting to feel like I was greedy by not TP at 6360.
Greed can be a good thing! It let's you know you've read the signals correctly.

I was telling Pippi earlier that last week I traded less. But I ended up letting my trades run longer and actually made more pips than normal because of it.
Hi, my name is Barry and you can keep your doctor...
  • #14,930
  • Jun 9, 2009 2:26pm Jun 9, 2009 2:26pm
Quoting eohater
I wouldn't hold the position upside down that long. If we continue north past 6375, next stop will be 6440, then 655x. 6375 - 6390 will be a tough cookie to break.
I dont normally place pending orders for whilst im away/asleep. So im going to risk it for a biscuit and place a gnat's whisker of a sell order at 6375, sl 6440, tp 6100.
  • #14,931
  • Jun 9, 2009 2:26pm Jun 9, 2009 2:26pm
Quoting eohater
If I had your position, I would have booked 10 by now. Not covered just yet, wait til the next 15m candle comes.
Bosko, I would book more at 6320 here and then cover my remaining position at BE or even +3. BE would probably be a better choice.
Just digging in the trenches like everyone else!
  • #14,932
  • Jun 9, 2009 2:28pm Jun 9, 2009 2:28pm
Quoting BenScoobert
I dont normally place pending orders for whilst im away/asleep. So im going to risk it for a biscuit and place a gnat's whisker of a sell order at 6375, sl 6440, tp 6100.
That's a nice R:R trade. I know it's 8:30pm for you now, so I understand that your evening is winding down. If you can get back to the charts in 4-5 hours, you might get a nice clean entry. 6375 might not get hit or it might.
Just digging in the trenches like everyone else!
  • #14,933
  • Jun 9, 2009 2:37pm Jun 9, 2009 2:37pm
Quoting eohater
That's a nice R:R trade. I know it's 8:30pm for you now, so I understand that your evening is winding down. If you can get back to the charts in 4-5 hours, you might get a nice clean entry. 6375 might not get hit or it might.
Well im not worried due to the lot size, ill be looking around 6am.

Maybe this is the future, use a lot size which is miniscule, place a fire and forget trade.
  • #14,934
  • Jun 9, 2009 2:48pm Jun 9, 2009 2:48pm
Quoting BenScoobert
Well im not worried due to the lot size, ill be looking around 6am.

Maybe this is the future, use a lot size which is miniscule, place a fire and forget trade.

I think that would help us a lot with holding for our profits . Because once we learn our profit target picks work we will trust them more.

I believe that is the advantage a few people have over us . They started out trading long term then switched to short term. So they already knew that there TP's were good.

Good luck with your plan.. Tonight..
Good Trading To All ; Ken Lee
  • #14,935
  • Jun 9, 2009 2:49pm Jun 9, 2009 2:49pm
Quoting KENNETH lEE
I think that would help us a lot with holding for our profits . Because once we learn our profit target picks work we will trust them more.

I believe that is the advantage a few people have over us . They started out trading long term then switched to short term. So they already knew that there TP's were good.

Good luck with your plan.. Tonight..
That's where I came from. I use to only trade the h4 candles. Once you can understand how to read your daily, h4, h1 candles, the 15m for entry and management become easier.
Just digging in the trenches like everyone else!
  • #14,936
  • Jun 9, 2009 3:21pm Jun 9, 2009 3:21pm
I'm outta here for now guys. I need to pick up my son from school and go party some. My long is still marching, covered at 6200 for SL and I'm wanting to short this little heater, but I'll wait til we get underway in the Asian session. Might be at 8pm est or maybe midnight. I'll be watching the h4 and h1 candles very close.

Trade well guys.

EO
Just digging in the trenches like everyone else!
  • #14,937
  • Jun 9, 2009 3:23pm Jun 9, 2009 3:23pm
Quoting eohater
I'm outta here for now guys. I need to pick up my son from school and go party some. My long is still marching, covered at 6200 for SL and I'm wanting to short this little heater, but I'll wait til we get underway in the Asian session. Might be at 8pm est or maybe midnight. I'll be watching the h4 and h1 candles very close.

Trade well guys.

EO

Thanks for everything.. See You Later
Good Trading To All ; Ken Lee
  • #14,938
  • Jun 9, 2009 3:30pm Jun 9, 2009 3:30pm
Quoting eohater
I'm outta here for now guys. I need to pick up my son from school and go party some. My long is still marching, covered at 6200 for SL and I'm wanting to short this little heater, but I'll wait til we get underway in the Asian session. Might be at 8pm est or maybe midnight. I'll be watching the h4 and h1 candles very close.

Trade well guys.

EO
Cheers brethren
Be good
  • #14,939
  • Jun 9, 2009 6:45pm Jun 9, 2009 6:45pm
So as an infrequent poster to this thread, I have to say that you guys have done an awesome job with this trading approach and have created a great thread.

EO I think your idea of using pending orders to pull people into a trade is simply brilliant, i will use POs for break outs etc but no on a lot of day to day trades and I will start playing around more with POs.

One thing I wanted to toss out there to everyone on the trade management side is to use the 5/10 emas to help manage your trade, for example if price closes below the 10 I am out. You will more than likely not get every pip possible out of the trade but you will also take home a nice little basket of green. This is certainly not for everyone but hopefully it will help a few.
  • #14,940
  • Jun 9, 2009 11:15pm Jun 9, 2009 11:15pm
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.
Good post bro......

That's why I have been leaving at least one runner, this helps you become a long term trader also. :nerd:

IT'S ALL ABOUT THE ENTRY!!!!

HOLLA
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