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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

  • #21,361
  • Aug 6, 2009 7:17am Aug 6, 2009 7:17am



Quoting eohater
Morning Rob!...
  • #21,362
  • Aug 6, 2009 7:27am Aug 6, 2009 7:27am
Quoting robgsxr
Hey Rob, there's another item I neglected to mention. Turtle and I were talking about this yesterday. Looking at your daily chart, notice how yesterdays close did not close higher than the high of the prior days candle. I don't care what time frame you trade, this shows that the sellers are starting to gain control.
Just digging in the trenches like everyone else!
  • #21,363
  • Edited 7:53am Aug 6, 2009 7:30am | Edited 7:53am
Quoting daffy
Not quite, a high volume down bar, indicates possible hidden selling, we need to wait for confirmation to enter in the other direction. Until it's confirmed, we're on yellow alert as to whether we take a long position.

Also bear in mind we've been choppy all morning, largely in anticipation of BoE and ECB rate decision - based on that, my current position is flat.
So here's another high volume bar, but this time we're looking for hidden buying and this time we also got confirmation to enter a position.

In the red circle, the first candle is our wide spread high volume down bar. Trading senses to on. We're waiting to see if SM is really bearish, or if they are trying to sucker in the herd.

The next bar was an inside bar, with narrow spread, with high volume. With that amount of volume, you would expect some movement, so perhaps contracts are exchanging hands.

The third bar tested the lows of the wide spread bar, and closed on the highs.

The next bar further tested the seller's resolve.

The blue circled bar was a low volume test, sellers had the opportunity to push the price down, they weren't interested.

NB. I limited my max volume for the picture so you could see the rest of the volume bars more easily.
Attached Image (click to enlarge)
Click to Enlarge Name: chart.jpg Size: 117 KB
  • #21,364
  • Aug 6, 2009 7:34am Aug 6, 2009 7:34am
I read that post last night yet it didn't enter my mind this morning.. these are the little nuances that seperate the men from the boys.

I was 45 this year but I don't think I have even reached trading pubity yet

And I am hoping to follow david to full time trading.. geez i have some way to go.

Good luck david


Quoting eohater
Hey Rob, there's another item I neglected to mention. Turtle and I were talking about this yesterday. Looking at your daily chart, notice how yesterdays close did not close higher than the high of the prior days candle. I don't care what time frame you trade, this shows that the sellers are starting to gain control.
  • #21,365
  • Aug 6, 2009 7:40am Aug 6, 2009 7:40am
I still haven't made it to the shower yet. As to our mistress, she's showing intent to go higher. I will wait for the next h4 to consider going shot on her. I can see 139.2 as a possiblity for today.
Just digging in the trenches like everyone else!
  • #21,366
  • Aug 6, 2009 7:46am Aug 6, 2009 7:46am
h1 is going to give us a dblhc which supports the continued move north for another hour after our h1 closes in 15m.
Just digging in the trenches like everyone else!
  • #21,367
  • Aug 6, 2009 7:48am Aug 6, 2009 7:48am
Quoting eohater
I still haven't made it to the shower yet. As to our mistress, she's showing intent to go higher. I will wait for the next h4 to consider going shot on her. I can see 139.2 as a possiblity for today.
You better get to that shower EO. I think I can smell the stench of money from here....
Ghost Rider - WWTBMD?
  • #21,368
  • Aug 6, 2009 8:10am Aug 6, 2009 8:10am
Quoting eohater
I still haven't made it to the shower yet. As to our mistress, she's showing intent to go higher. I will wait for the next h4 to consider going shot on her. I can see 139.2 as a possiblity for today.

EJ can pull of super strong trends, but I say NO CHANCE!!!

The trend is up though on it, expect GU will move back to a uptrend later to, Downtrending currently though.

Time will tell, sure do with 150pips!!
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #21,369
  • Aug 6, 2009 8:30am Aug 6, 2009 8:30am
hey guys i am new to this material and honestly i feel a little lost. So to help me find my way I have a question?

which ma's are the most important to look at and what tf?

or do i look at all of them and how they relate to each other.

right now i am thinking the m15 35 and 50

and the h1 50 and 62

am i on the right track?

any other advice to make me a success at this style?

thanks, john

btw eo don;t mind anyone being negative they are just jelous of your

Big Pips
  • #21,370
  • Edited 8:44am Aug 6, 2009 8:41am | Edited 8:44am
Quoting johnnykanoo
hey guys i am new to this material and honestly i feel a little lost. So to help me find my way I have a question?

which ma's are the most important to look at and what tf?

or do i look at all of them and how they relate to each other.

right now i am thinking the m15 35 and 50

and the h1 50 and 62

am i on the right track?

any other advice to make me a success at this style?

thanks, john

btw eo don;t mind anyone being negative they are just jelous of your

Big Pips
Hey JohnnyKanoo - Welcome to the thread. For starters, I'd recommend going to post #1 of this thread and downloading the pdf file that is there. Its full of different nuggets of wisdom that was taken from approximately the first 1500 posts of the thread. Read through that and it should provide more insight into how everything ties together. If there's anything unclear after reviewing that document, please post additional questions.

As to advice to have success with this style, you need to take what fits from this style and apply it to your trading. No one style fits everyone exactly, so by understanding and trading (I recommend demo to start) the system, you can begin to learn what setups you like, what ones don't seem to work for you, etc.

Again welcome, and please feel free to ask any additional clarification questions, but I think the best way to get your arms around this system is to review the pdf at post #1.

Best of luck.

http://www.forexfactory.com/showpost...81&postcount=1
  • #21,371
  • Aug 6, 2009 8:51am Aug 6, 2009 8:51am
Quoting eohater
I still haven't made it to the shower yet. As to our mistress, she's showing intent to go higher. I will wait for the next h4 to consider going shot on her. I can see 139.2 as a possiblity for today.

Can you still see it mate

Interesting out of know where turn down here, glad I didn't take a long yet on the pull back!!
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #21,372
  • Aug 6, 2009 8:59am Aug 6, 2009 8:59am
johnnykanoo,
if i may....

imho, the H1 & H4 MAs are a "little" more important.
but in general, u have to look at all of them & must get used to/(try to) master the relation/interaction of the MA's with one another.
alternatively, u can pick 1 or several MAs that u fancy & study/practice them extensively along with your own/other method/system ----incorporate the MA's, in short & sort of "make it your own".

btw, i'll take this opportunity to pay my respect to eohater, the thread starter.
it's my first post here. i lurked here very shortly (last year). during the past few months, i have been 'branching out' from my "mother thread" (james16 thread). i have been using MA's for some time now, but what i like about your thread is that it's a showcase of the MA's that u use + your experience with them.
hopefully u will see this post after your green pips shower.
Thanks for your time here in FF!


EDIT: nyjetfan: does anybody encounter errors/blank pages with the latest pdf? i downloaded the ebook early today (Asian time) & it seem to be having problems. It's my second time to download the ebook (just wanna check if there were pdf updates/new sample charts, etc) thanks!
  • #21,373
  • Aug 6, 2009 9:00am Aug 6, 2009 9:00am
Quoting Turveyd
Can you still see it mate

Interesting out of know where turn down here, glad I didn't take a long yet on the pull back!!
Pull back hasn't finished yet in my book...
Ghost Rider - WWTBMD?
  • #21,374
  • Aug 6, 2009 9:02am Aug 6, 2009 9:02am
Quoting supremeChaos

EDIT: nyjetfan: does anybody encounter errors/blank pages with the latest pdf? i downloaded the ebook early today (Asian time) & it seem to be having problems. It's my second time to download the ebook (just wanna check if there were pdf updates/new sample charts, etc) thanks!

I can't speak for others, but I just downloaded the pdf since reading this post without any problems. If you are having trouble getting it, please pm me with an email address and I'll shoot you a copy.
  • #21,375
  • Aug 6, 2009 9:03am Aug 6, 2009 9:03am
Quoting Turveyd
Can you still see it mate

Interesting out of know where turn down here, glad I didn't take a long yet on the pull back!!
May I suggest you take a look at the daily chart.
  • #21,376
  • Aug 6, 2009 9:04am Aug 6, 2009 9:04am
Quoting Turveyd
EJ can pull of super strong trends, but I say NO CHANCE!!!

The trend is up though on it, expect GU will move back to a uptrend later to, Downtrending currently though.

Time will tell, sure do with 150pips!!
I cannot see it so easily right now, but it's still there, just like 7080 is still there for GU. We will probably experience a shit load of risk aversion today which will strengthen the dollar and the yen.

I can see a setup brewing on EJ though for a long from the 137.00 area w/ SL just below around 136.85.
Just digging in the trenches like everyone else!
  • #21,377
  • Aug 6, 2009 9:04am Aug 6, 2009 9:04am
I suppose the next bounce will come at 740-750 which is the 30 June high and 4h 50ema
'The past will always show us the future'
  • #21,378
  • Aug 6, 2009 9:05am Aug 6, 2009 9:05am
Quoting johnnykanoo
hey guys i am new to this material and honestly i feel a little lost. So to help me find my way I have a question?

which ma's are the most important to look at and what tf?

or do i look at all of them and how they relate to each other.

right now i am thinking the m15 35 and 50

and the h1 50 and 62

am i on the right track?

any other advice to make me a success at this style?

thanks, john

btw eo don;t mind anyone being negative they are just jelous of your

Big Pips
Your on the right track! Go through the pdf and it explains how we use them once price starts moving vs. ranging.
Just digging in the trenches like everyone else!
  • #21,379
  • Aug 6, 2009 9:07am Aug 6, 2009 9:07am
Quoting albchr
You better get to that shower EO. I think I can smell the stench of money from here....
Got my shower bro! I hope I don't stink anymore. Lord knows the cable thread stunk this morning though.
Just digging in the trenches like everyone else!
  • #21,380
  • Aug 6, 2009 9:08am Aug 6, 2009 9:08am
Quoting eohater
I cannot see it so easily right now, but it's still there, just like 7080 is still there for GU. We will probably experience a shit load of risk aversion today which will strengthen the dollar and the yen.

I can see a setup brewing on EJ though for a long from the 137.00 area w/ SL just below around 136.85.
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