Trade what you see NOT what you expect | Page 1082 | Forex Factory

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Trade what you see NOT what you expect

  • #21,621
  • Aug 7, 2009 4:08am Aug 7, 2009 4:08am
Nap time for me! I'll see everyone in a couple of hours.
Just digging in the trenches like everyone else!
  • #21,622
  • Aug 7, 2009 4:10am Aug 7, 2009 4:10am
Quoting albchr
Short GU at 6719 / Tight Sl 6740
I know why you took the short, notice how price has been respecting the m15 5? Next time, let price pullback up into the m15 5 and get in, you can set it as a PO, you could of gotten filled around 6729.
Just digging in the trenches like everyone else!
  • #21,623
  • Aug 7, 2009 4:13am Aug 7, 2009 4:13am
Quoting eohater
I know why you took the short, notice how price has been respecting the m15 5? Next time, let price pullback up into the m15 5 and get in, you can set it as a PO, you could of gotten filled around 6729.
Yep, just got stopped out too... -25...

I honestly don't get it. Everything was linned up and yet it just turns and spikes?? PA just seems to be breaking all the rules.
Ghost Rider - WWTBMD?
  • #21,624
  • Aug 7, 2009 4:20am Aug 7, 2009 4:20am
Quoting albchr
Yep, just got stopped out too... -25...

I honestly don't get it. Everything was linned up and yet it just turns and spikes?? PA just seems to be breaking all the rules.
Rule 1: there are no rules.
Probability Professor
  • #21,625
  • Aug 7, 2009 4:25am Aug 7, 2009 4:25am
Quoting Galation
Rule 1: there are no rules.
Well there has to be "some" way to tip the odds. Otherwise this is nothing but a guessing game. If that's the case, I'd be better off playing black jack...lol
Ghost Rider - WWTBMD?
  • #21,626
  • Aug 7, 2009 4:27am Aug 7, 2009 4:27am
Quoting albchr
Yep, just got stopped out too... -25...

I honestly don't get it. Everything was linned up and yet it just turns and spikes?? PA just seems to be breaking all the rules.
Sorry about your loss Mate,


I use a tighter bollinger bands (4,2) and i tended to going short at the bottom of that BB, and going to long at the top of that before..I could have gotten better entries if i wait till touch at least the middle line of this BB ,which is nearly the same that our M15 5 ma or the touch of the other side..In this case you sold the bottom on my BB at 6719..I went short at 6745 the top of this BB and the ma20 price...Hope it helps, because it helped me recently to get a better entry...Sometimes iam still not patient enough to wait, but it is worth
  • #21,627
  • Aug 7, 2009 4:36am Aug 7, 2009 4:36am
Quoting Isty
Sorry about your loss Mate,


I use a tighter bollinger bands (4,2) and i tended to going short at the bottom of that BB, and going to long at the top of that before..I could have gotten better entries if i wait till touch at least the middle line of this BB ,which is nearly the same that our M15 5 ma or the touch of the other side..In this case you sold the bottom on my BB at 6719..I went short at 6745 the top of this BB and the ma20 price...Hope it helps, because it helped me recently to get a better entry...Sometimes iam still not patient enough...
Thanks Isty,

I was going off resistance, 1H close bearish pin, 15M & 1H closed under LTL and outside lower channel line.

Is that a standard BB, set to close and on 15M?
Ghost Rider - WWTBMD?
  • #21,628
  • Aug 7, 2009 4:38am Aug 7, 2009 4:38am
Quoting albchr
Well there has to be "some" way to tip the odds. Otherwise this is nothing but a guessing game. If that's the case, I'd be better off playing black jack...lol
youll recover it later - Fridays always tougher - pre NFP????
  • #21,629
  • Aug 7, 2009 4:44am Aug 7, 2009 4:44am
Quoting albchr
Well there has to be "some" way to tip the odds. Otherwise this is nothing but a guessing game. If that's the case, I'd be better off playing black jack...lol
Guidelines yes, but nothing works 100% of time, so it's important to be flexible and not rigid. It's an art.
Probability Professor
  • #21,630
  • Aug 7, 2009 4:46am Aug 7, 2009 4:46am
Quoting albchr
Thanks Isty,

I was going off resistance, 1H close bearish pin, 15M & 1H closed under LTL and outside lower channel line.

Is that a standard BB, set to close and on 15M?
Yes you are right,

I went short because we broke our H1 range and closed below..Next H1 confirmed that break, since it is just retest that range bottom..The next H1 our current working one where the bulls wanted to push back the price again to the range but i hope they fail to do so..
One of my broker friend use this tight BB, i tested it and found reliable for me...
  • #21,631
  • Aug 7, 2009 4:47am Aug 7, 2009 4:47am
Quoting albchr
Yep, just got stopped out too... -25...

I honestly don't get it. Everything was linned up and yet it just turns and spikes?? PA just seems to be breaking all the rules.
Hi chris & everyone

Chris, I know you trade with a different setup now, but I think you missed out a small detail with the stop. PA is obeying the rules so far I'm afraid bro. There's a minor s/r level which I think you forgot to highlight.

Have a good one bro
Attached Image (click to enlarge)
Click to Enlarge Name: gu1.JPG Size: 69 KB
Thank You
  • #21,632
  • Aug 7, 2009 4:49am Aug 7, 2009 4:49am
Quoting Isty
Yes you are right,

I went short because we broke our H1 range and closed below..Next H1 confirmed that break, since it is just retest that range bottom..The next H1 our current working one where the bulls wanted to push back the price again to the range but i hope they fail to do so..
One of my broker friend use this tight BB, i tested it and found reliable for me...
And today is friday..I had a lots of bad trades on fridays before..And NFP as well , so i keep my SL tight and cover asap..Everything is possible, just last friday the end of the week and end of the month
  • #21,633
  • Aug 7, 2009 4:56am Aug 7, 2009 4:56am
Quoting wormboy
Hi chris & everyone

Chris, I know you trade with a different setup now, but I think you missed out a small detail with the stop. PA is obeying the rules so far I'm afraid bro. There's a minor s/r level which I think you forgot to highlight.

Have a good one bro
Hey Azim,

I have minor support at 6743 and stronger at 6760. Where is that support on your chart (number)?
Ghost Rider - WWTBMD?
  • #21,634
  • Aug 7, 2009 5:01am Aug 7, 2009 5:01am
good morning guys.
i woke up to my zinger trade being negative im long gu and as of now -57 what do i do? kill it or wait for a retrace? unfortunatly i need to work today so i can't even be around for nfp but i can keep an eye on hourlys. any ideas?

thanks john
  • #21,635
  • Aug 7, 2009 5:03am Aug 7, 2009 5:03am
Quoting Galation
Guidelines yes, but nothing works 100% of time, so it's important to be flexible and not rigid. It's an art.
I do try to be flexible for sure. Only 10 months trading (2 live) I started out by learning S/R & PA via James 16 (only I have to do it on smaller TF's). Before July, it was working rather well. Since June I admit, it's been a bit baffling to me as it doesn't seem the same.

Pa is working fine for traders who can place a small fraction % position, give it a mile SL and wait days for profit but unfortunately, that's not my case...lol
Ghost Rider - WWTBMD?
  • #21,636
  • Aug 7, 2009 5:04am Aug 7, 2009 5:04am
Next week should see some really strong opportunities once NFP is out of the way.
  • #21,637
  • Aug 7, 2009 5:05am Aug 7, 2009 5:05am
Quoting albchr
Hey Azim,

I have minor support at 6743 and stronger at 6760. Where is that support on your chart (number)?
that s/r is @6760
Thank You
  • #21,638
  • Aug 7, 2009 5:06am Aug 7, 2009 5:06am
Quoting johnnykanoo
good morning guys.
i woke up to my zinger trade being negative im long gu and as of now -57 what do i do? kill it or wait for a retrace? unfortunatly i need to work today so i can't even be around for nfp but i can keep an eye on hourlys. any ideas?

thanks john
Hi,

In my eyes you took a large SL for that, if your are still in that trade with -57 pips...And now everything is loks like a downmove
  • #21,639
  • Aug 7, 2009 5:09am Aug 7, 2009 5:09am
Quoting albchr
Hey Azim,

I have minor support at 6743 and stronger at 6760. Where is that support on your chart (number)?
Have a look to my chart please...You can see my BB and the resistance what Wormboy posted...Anyway nice chart Wormboy..
Attached Image (click to enlarge)
Click to Enlarge Name: gbp.png Size: 195 KB
  • #21,640
  • Aug 7, 2009 5:10am Aug 7, 2009 5:10am
Quoting wormboy
that s/r is @6760
OK, so I have it but based on all the afore mentioned factors, just didn't think it would get there. And it didn't. But it got higher than I thought it would obviously...
Ghost Rider - WWTBMD?
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