Trade what you see NOT what you expect | Page 789 | Forex Factory

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Trade what you see NOT what you expect

  • #15,761
  • Jun 17, 2009 9:25am Jun 17, 2009 9:25am
Quoting eohater
this is playing out, now, the question is how long will it play out for. Sellers around 635x-6365.
6347 looks like many converging MAs, huge resistance i think
  • #15,762
  • Jun 17, 2009 9:26am Jun 17, 2009 9:26am
Took some more profit at 6320 stop now adjusted to +25 pips.. I'm going on the road now... talk to you guys later...Good luck with your trades..
Patience + Discipline - Greed = Success
  • #15,763
  • Jun 17, 2009 9:27am Jun 17, 2009 9:27am
I use a slightly different method as I favour longer term trades of 200 to 400 pips at a time I start of with a small position and then once it is secure I add every 50 pips or so the way I see it if I am in profit on my first trade and the market turns against me on the second position then I just close both ensuring I have no loss. On that big trade I did last month I had 23 positions open by the time the trade had closed yet I only risked 2% of my account on the very first position.

This is not a recommendation to try this in your live account practice in a demo account first as it depends on how volatile the market is
  • #15,764
  • Jun 17, 2009 9:31am Jun 17, 2009 9:31am
Off for lunch! I'll be back in about an hour.
Just digging in the trenches like everyone else!
  • #15,765
  • Jun 17, 2009 9:55am Jun 17, 2009 9:55am
Quoting eohater
I agree with Infinity's answer. I have a set amount that I'm comfortable with risking and it's not directly tied to my account balance, but more of an emotional feeling and a percentage of my base balance. I keep a base balance in my account at all times. This base balance is what I base my % gains on as well. For example, let me use some easy numbers, if my base is $100K but my balance is $250K. I want a 20% gain on my base weekly. I'll risk upto 5% of my base, but usually cut it around 3% and take the hit on the chin. I'm kinda at a threshold...

thanks infin and EO,

im short 16328 off 50sma 15min chart
Trading is 80% Emotional, 20% Technical
  • #15,766
  • Jun 17, 2009 10:03am Jun 17, 2009 10:03am
Quoting eohater
Sorry bro, but I'm just a little frustrated right now that's all. Please don't take offense. We have anywhere from 20-40 people a day in here and half the time only 5 of us contribute. Take my analysis I posted on Sunday. Only two people made a comment about it. The two that did comment I know already know how to read charts, I was kinda expecting more questions. I know that not everyone is getting this method and that's fine, but you can't get it if you don't ask questions.
Sorry EO, you'd posted the question, answered it, and gotten frustrated by the lack of responses before I even read the post. I don't keep up as much as I used to as I find I trade better when I spend less time on the forums.
  • #15,767
  • Jun 17, 2009 10:43am Jun 17, 2009 10:43am
My 1.6360 target looks like it could be met...but damn, this is a slow moving market today.
Hi, my name is Barry and you can keep your doctor...
  • #15,768
  • Jun 17, 2009 10:45am Jun 17, 2009 10:45am
Quoting BenScoobert
6347 looks like many converging MAs, huge resistance i think
to hold or not to hold, that is the question
  • #15,769
  • Jun 17, 2009 10:58am Jun 17, 2009 10:58am
im short here at 1hour 62ema, see if it plays out,

long up to it was the play thou....
Trading is 80% Emotional, 20% Technical
  • #15,770
  • Jun 17, 2009 11:00am Jun 17, 2009 11:00am
Quoting fx local
im short here at 1hour 62ema, see if it plays out,

long up to it was the play thou....
Good job bro! I've taken another short position myself here in my other account.
Just digging in the trenches like everyone else!
  • #15,771
  • Jun 17, 2009 11:00am Jun 17, 2009 11:00am
Quoting fx local
im short here at 1hour 62ema, see if it plays out,

long up to it was the play thou....
where's your sl?
  • #15,772
  • Jun 17, 2009 11:00am Jun 17, 2009 11:00am
Quoting cisco
My 1.6360 target looks like it could be met...but damn, this is a slow moving market today.
It sure has but it was nice to come back from lunch to green pips on both my longs. Took some off at the 62 on GU.
  • #15,773
  • Jun 17, 2009 11:04am Jun 17, 2009 11:04am
I wimped out and closed both my longs at 1.6358 because of the H1 62 and the 50 fib of yesterday's range.

I think I'll call it a day and do a little yardwork before it rains.

Good luck folks
Hi, my name is Barry and you can keep your doctor...
  • #15,774
  • Jun 17, 2009 11:05am Jun 17, 2009 11:05am
Quoting cisco
I wimped out and closed both my longs at 1.6358 because of the H1 62 and the 50 fib of yesterday's range.

I think I'll call it a day and do a little yardwork before it rains.

Good luck folks
Nice trading Cisco have a great afternoon.
  • #15,775
  • Jun 17, 2009 11:06am Jun 17, 2009 11:06am
Quoting BenScoobert
where's your sl?
im out should it go above 6400
Trading is 80% Emotional, 20% Technical
  • #15,776
  • Jun 17, 2009 11:11am Jun 17, 2009 11:11am
Quoting cisco
I wimped out and closed both my longs at 1.6358 because of the H1 62 and the 50 fib of yesterday's range.

I think I'll call it a day and do a little yardwork before it rains.

Good luck folks

I want to learn how to wimp out like that.... good trading.
Good Trading To All ; Ken Lee
  • #15,777
  • Jun 17, 2009 11:16am Jun 17, 2009 11:16am
Quoting fx local
im out should it go above 6400
i wimped out at 6380, waiting for a seat now
  • #15,778
  • Jun 17, 2009 11:18am Jun 17, 2009 11:18am
bounced right off the D1 5MA
  • #15,779
  • Jun 17, 2009 11:19am Jun 17, 2009 11:19am
Quoting fx local
im out should it go above 6400
WOW, that was one hell of a spike!
Just digging in the trenches like everyone else!
  • #15,780
  • Jun 17, 2009 11:19am Jun 17, 2009 11:19am
I just closed my longs at 6420... I did'nt expect it so soon but I was looking at this area... looking for a new seat now...
Patience + Discipline - Greed = Success
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