Trade what you see NOT what you expect | Page 1106 | 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

  • #22,101
  • Aug 10, 2009 8:23pm Aug 10, 2009 8:23pm
Quoting Shilva
Timing looks good for a 1h slow stotch trade coming up. If it gets back up in overbought area fairly quickly she might not stay there long.
That lawyer guy on TV keeps asking, "Did you ever want to get inside of a pro traders mind.

And the pro trader says, "I'm working a 20 - 80 slow stochastic cross...at the moment!"

And then the broker says, "Send me your money!"
  • #22,102
  • Aug 11, 2009 1:48am Aug 11, 2009 1:48am
Quoting arodriguez
Hi eohater, (and everyone !)

I have read your PDF today. I really like this thread because it's 100% technical trading. I just would like to share with all of you in this thread some comments:

1. "Trade what you see" is a hard part of trading. That is why I have been trading at 90% based in technicals. I really believe if you follow technical indicators, ultimately you are following the market. Stop getting blind from emotions is the first step to get into profitability.

2. Trading only the GBP/USD is an interesting part. I recognize that...
Welcome to the thread! Glad you enjoyed the read! Anytime you have questions, please ask. To answer your question if anyone is trading for a living in here only trading GU, I can say yes to that. I have been known to cheat from time to time though with our mistress EJ (any pair I see a HTF setup), but I intraday trade GU 99.9% of the time only.

Trade well!
EO
Just digging in the trenches like everyone else!
  • #22,103
  • Aug 11, 2009 1:57am Aug 11, 2009 1:57am
Quoting Infinity
Took some more profit on my longs at 6515..
Good job bro! I had some come off at 6510 myself. I still have my remaining position open, covered at +10.
Just digging in the trenches like everyone else!
  • #22,104
  • Aug 11, 2009 2:04am Aug 11, 2009 2:04am
Quoting eohater
Good job bro! I had some come off at 6510 myself. I still have my remaining position open, covered at +10.

Scaling in and out of those profitable positions , Is like the difference between living in Pippin's shack or Infinity's resort.. Can't wait..

http://www.friedmanarchives.com/Brit...2300%20dpi.jpg

http://www.allinclusivecaribbeanbeac...amian_pool.jpg

Where to you want to be? Stress Free trading ..... Or ????
Good Trading To All ; Ken Lee
  • #22,105
  • Aug 11, 2009 2:05am Aug 11, 2009 2:05am
Morning Everyone...
Ghost Rider - WWTBMD?
  • #22,106
  • Aug 11, 2009 2:06am Aug 11, 2009 2:06am
Quoting albchr
Morning Everyone...
Morning bro! You good today? Missed you during the US Session.
Just digging in the trenches like everyone else!
  • #22,107
  • Aug 11, 2009 2:09am Aug 11, 2009 2:09am
Quoting eohater
Morning bro! You good today? Missed you during the US Session.
I'll send you a PM...

But I sure missed being here too.
Ghost Rider - WWTBMD?
  • #22,108
  • Aug 11, 2009 2:10am Aug 11, 2009 2:10am
Quoting KENNETH lEE
Scaling in and out of those profitable positions , Is like the difference between living in Pippin's shack or Infinity's resort.. Can't wait..

http://www.friedmanarchives.com/Brit...2300%20dpi.jpg

http://www.allinclusivecaribbeanbeac...amian_pool.jpg

Where to you want to be? Stress Free trading ..... Or ????
Don't worry once I hit the power ball I'm going to get the roof fixed and have everyone over for a party.
  • #22,109
  • Aug 11, 2009 2:13am Aug 11, 2009 2:13am
Quoting PippiNole
Don't worry once I hit the power ball I'm going to get the roof fixed and have everyone over for a party.

Didn't Obama send you one of those blue FEMA tarps.. along with your stimulus check..

35/50 reversal was sweet.. GBP
Good Trading To All ; Ken Lee
  • #22,110
  • Aug 11, 2009 2:15am Aug 11, 2009 2:15am
Quoting PippiNole
Don't worry once I hit the power ball I'm going to get the roof fixed and have everyone over for a party.


You told me that was a skylight!
Just digging in the trenches like everyone else!
  • #22,111
  • Aug 11, 2009 2:17am Aug 11, 2009 2:17am
Quoting KENNETH lEE
Didn't Obama send you one of those blue FEMA tarps.. along with your stimulus check..

35/50 reversal was sweet.. GBP
No on the tarp.

No on the check.

35/50 a thing of beauty.
  • #22,112
  • Aug 11, 2009 2:19am Aug 11, 2009 2:19am
Quoting KENNETH lEE
Didn't Obama send you one of those blue FEMA tarps.. along with your stimulus check..

35/50 reversal was sweet.. GBP


Good job on the pippage!
Just digging in the trenches like everyone else!
  • #22,113
  • Aug 11, 2009 2:20am Aug 11, 2009 2:20am
I have a question, I have been watching this thread for ever, and read the PDF its even getting ragged on screen but I must have missed this somehow so if its been answered already I apologise.

If you see a trade, for instance, a 35/50 cross, and I want to only risk 3% on that trade, do you put the whole amount money, on that trade?

Where does the scaling into trades come in, and how would you go about that practically. If something on the charts tells you its going a certain way, how to you put those trades in. Just an example trade showing % of total risk would be good when you have the time.
  • #22,114
  • Aug 11, 2009 2:27am Aug 11, 2009 2:27am
Quoting albchr
EDIT: An interesting note. The fib level 38.2% drawn on the overall drop from Nov. 07 to Jan 09, and the fib level 50% drawn on low of 6/9/2009 to current high match to within 1 pip at 6420 & 6421. Hmmmmm....
I had a feeling that would be a nice support. Darn shame I missed the fall yesterday. Couldn't trade. Congrats to all of you for taking the ride!

I wonder if we'll get a nice turn here or she'll make down through.
Attached Image (click to enlarge)
Click to Enlarge Name: gu_d.gif Size: 30 KB
Ghost Rider - WWTBMD?
  • #22,115
  • Aug 11, 2009 2:29am Aug 11, 2009 2:29am
Here is a copy of the same chart I posted over the weekend I had left some of the stuff I had put on it . to see if we could show that the PPA came back into play as you can see it did.... Trade Well
Attached Image (click to enlarge)
Click to Enlarge Name: Misc EJ Chart.jpg Size: 166 KB
Good Trading To All ; Ken Lee
  • #22,116
  • Aug 11, 2009 2:38am Aug 11, 2009 2:38am
Thanks for the chart Ken, I did see that the other day, ok something specific with that chart, if I wanted to risk a total of 3% and I want to put a PO long at 136.60 would you put in multiple small orders and close some out after x number of pips or would you put the whole 3% in one go, and close part after x number of pips?
  • #22,117
  • Aug 11, 2009 2:43am Aug 11, 2009 2:43am
Quoting luckylady
I have a question, I have been watching this thread for ever, and read the PDF its even getting ragged on screen but I must have missed this somehow so if its been answered already I apologise.

If you see a trade, for instance, a 35/50 cross, and I want to only risk 3% on that trade, do you put the whole amount money, on that trade?

Where does the scaling into trades come in, and how would you go about that practically. If something on the charts tells you its going a certain way, how to you put those trades in. Just an example trade showing...
Welcome to the thread!

Ken, thank you for your answers and chart!
Just digging in the trenches like everyone else!
  • #22,118
  • Aug 11, 2009 2:48am Aug 11, 2009 2:48am
Quoting luckylady
I have a question, I have been watching this thread for ever, and read the PDF its even getting ragged on screen but I must have missed this somehow so if its been answered already I apologise.

If you see a trade, for instance, a 35/50 cross, and I want to only risk 3% on that trade, do you put the whole amount money, on that trade?

Where does the scaling into trades come in, and how would you go about that practically. If something on the charts tells you its going a certain way, how to you put those trades in. Just an example trade showing...
I posted a section on covering over the weekend did you see that ? If so and need further clarifaction let me know and I will do my best to explain better .

The whole idea is to limit risk most trades you would enter with your full position size 3%. Then once your in profits at a certain level whichyou have to decide based on price action. And your risk tolerance..

Look at the GBP we finaaly got our turn at 1.630ish . But having been a down trend all day as soon as yu got 20 pips profit you might have wanted to take 1/2 off and move your stop to BE or +2 taht way you no longer have any risk. Then price moved up another 20 pips again you could scale out some here.

Then price retraced a bit to 164.65, we look left and see we have some PPA in that area when price turns backup of those flat candles you could scale in to your position putting back some you have taken off. then again as it moves up you remove some profits. when it hit the 50 ema being a major Line in the sand you would decide weither to close all or just scale out majorlly.. and move your stop to protect your gains..


The whole art of doing this ,, Works better with as many orders as you could trade.. Soem guys here trade 10 or 12 orders so they can take 1 or 2 off at various levels. The fewer you trade the less options you have,

If you need more clarifaction i could post another chart later..

ken
Good Trading To All ; Ken Lee
  • #22,119
  • Aug 11, 2009 2:52am Aug 11, 2009 2:52am
Quoting eohater
Welcome to the thread! Glad you enjoyed the read! Anytime you have questions, please ask. To answer your question if anyone is trading for a living in here only trading GU, I can say yes to that. I have been known to cheat from time to time though with our mistress EJ (any pair I see a HTF setup), but I intraday trade GU 99.9% of the time only.

Trade well!
EO
Thank you for answering. I am sure I will enjoy the thread.

What do you all think about current levels... GU trading at 6450... she is quite oversold... but trying to break down some key supports... isn't?

A.
  • #22,120
  • Aug 11, 2009 2:56am Aug 11, 2009 2:56am
As someone mentioned last week the 62 ema 1 Hr. E/J Trade missed the line by 2 pips. Don't miss a good trade for 2 pips.. Everything in trading is a AREA.. Not a bullseye.. EO has stated many times a 10 pip entry before the 62 maybe required.. But normally if you look around you will find some price actio to help you sort it out.
Good Trading To All ; Ken Lee
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