Trade what you see NOT what you expect | Page 1138 | Forex Factory

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Trade what you see NOT what you expect

  • #22,741
  • Edited 10:37am Aug 14, 2009 10:26am | Edited 10:37am
Quoting tdeu
Hi Ken,

When do you figure out that 21ema holds (working or closed candle)? And when do you add to your position?

thanks tdeu

I you know your in a downtrend being on the bottom side of the MA's So a low risk trade is when the price aproaches , Because remember with your lower time ma's they move around a lot.

But remember this is all the basic Price action your not closing above the previous high If you look at the 21 you will see the wick came almost right to the open of the red candle That is a sign also. Just wait for it to stall and start it's downward move and get in with a tight stop.

I as I showed you would add to your position at the 21 if you were still short from the 50 ema.hardlly any draw down you coverd at 30 pips . The bottom of the second red candle. Those you could addd that back at the 21 ema..

Hope That Helps
Good Trading To All ; Ken Lee
  • #22,742
  • Aug 14, 2009 10:26am Aug 14, 2009 10:26am
Tomorrow marks 40 years since the start of Woodstock.

Hi, my name is Barry and you can keep your doctor...
  • #22,743
  • Aug 14, 2009 10:27am Aug 14, 2009 10:27am
Quoting eohater
Excellent job! Did you leave anything on the table to continue?
Haven't got to that chapter in the pdf and thread reading.

Wish I had. At this stage of my 'EO training' I'm working
on babypips and single lots and a far more cautious r/r.

I'll enter again short if she retests the conglomerate
of mas gathering on the 15m between 1.6551-59.

It's all good.

Dr. D. -(Mr. Conservative)
  • #22,744
  • Aug 14, 2009 10:27am Aug 14, 2009 10:27am
Quoting InDjaLV
thanks EO for your chart.. my 4h chart looks different.. +2 gmt
My chart was an m15 chart, not an h4.
Just digging in the trenches like everyone else!
  • #22,745
  • Aug 14, 2009 10:31am Aug 14, 2009 10:31am
Quoting fourxtrader
Haven't got to that chapter in the pdf and thread reading.

Wish I had. At this stage of my 'EO training' I'm working
on babypips and single lots and a far more cautious r/r.

I'll enter again short if she retests the conglomerate
of mas gathering on the 15m between 1.6551-59.

[i][color=#0000ff][i][color=#0000ff]It's...
Don't beat yourself up! You had a good entry, just a premature exit on it. In time, you will become more comfortable with taking partial profit, covering the position and booking more along the way. Your entry long went right to the m15 35. I added to my shorts at that price with new soldiers since my position was reduced from profit taking earlier.

Good job on the trade!
Just digging in the trenches like everyone else!
  • #22,746
  • Aug 14, 2009 10:32am Aug 14, 2009 10:32am
Quoting cisco
F*&# the youth...show me da money!
  • #22,747
  • Aug 14, 2009 10:34am Aug 14, 2009 10:34am
Quoting eohater
My chart was an m15 chart, not an h4.
HAHA... sorry ... Now I fell quite stupid.. .BUt anyway took pips at this sell..
thank EO for your setup ..
  • #22,748
  • Aug 14, 2009 10:39am Aug 14, 2009 10:39am
Quoting eohater
Don't beat yourself up! You had a good entry, just a premature exit on it. In time, you will become more comfortable with taking partial profit, covering the position and booking more along the way. Your entry long went right to the m15 35. I added to my shorts at that price with new soldiers since my position was reduced from profit taking earlier.

Good job on the trade!
And also to a nice 1h 62ema bounce (1.6552). Yes?

Dr. D.
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  • #22,749
  • Aug 14, 2009 10:41am Aug 14, 2009 10:41am
Quoting KENNETH lEE
I you know your in a downtrend being on the bottom side of the MA's So a low risk trade is when the price aproaches , Because remember with your lower time ma's they move around a lot.

But remember this is all the basic Price action your not closing above the previous high If you look at the 21 you will see the wick came almost right to the open of the red candle That is a sign also. Just wait for it to stall and start it's downward move and get in with a tight stop.

I as I showed you would add to your position at the 21 if you were still...
Everyone should not forget you never have to enter with your full order, If your not comfortable with those types of entries yet. Enter with a third or quater. Then if it goes threw to the next Ma. You could add another 1/3 or quarter, But don't add on if you started with a full position. That is adding to a losing trade. You most have made that part of the plan for that trade.


I just took the 5 ema of the EJ With a small position as it had pulled back previouslly pretty well.
Good Trading To All ; Ken Lee
  • #22,750
  • Aug 14, 2009 10:44am Aug 14, 2009 10:44am
Quoting KENNETH lEE
Everyone should not forget you never have to enter with your full order, If your not comfortable with those types of entries yet. Enter with a third or quater. Then if it goes threw to the next Ma. You could add another 1/3 or quarter, But don't add on if you started with a full position. That is adding to a losing trade. You most have made that part of the plan for that trade.


I just took the 5 ema of the EJ With a small position as it had pulled back previouslly pretty well.

KENNETH you allways enter 1/3 of position? and then add position if price go against You?
  • #22,751
  • Aug 14, 2009 10:47am Aug 14, 2009 10:47am
Quoting fourxtrader
And also to a nice 1h 62ema bounce (1.6552). Yes?

Dr. D.
Exactly, more confluence as to why I added to my short position!
Just digging in the trenches like everyone else!
  • #22,752
  • Aug 14, 2009 10:48am Aug 14, 2009 10:48am
Quoting KENNETH lEE
Everyone should not forget you never have to enter with your full order, If your not comfortable with those types of entries yet. Enter with a third or quater. Then if it goes threw to the next Ma. You could add another 1/3 or quarter, But don't add on if you started with a full position. That is adding to a losing trade. You most have made that part of the plan for that trade.


I just took the 5 ema of the EJ With a small position as it had pulled back previouslly pretty well.
Nice entry, did you exit already ? because at this moment price stay on ema5 again
Trade with the momentum
  • #22,753
  • Aug 14, 2009 10:50am Aug 14, 2009 10:50am
Quoting PippiNole
You hunting for a long position on the mistress? I've got my eyes peeled for one, I was wanting around 134.15. Turn of the h4 will lead the way for that possibly.
Just digging in the trenches like everyone else!
  • #22,754
  • Aug 14, 2009 10:51am Aug 14, 2009 10:51am
Quoting InDjaLV
KENNETH you allways enter 1/3 of position? and then add position if price go against You?
No not at all I mainlly enter with a full position. When I cover I normally take 2/3 off but thats just me.. Everyones different. The whole key is to have as many positive trades as possible. But if The trade looks questionable. Or your just not used to certian types of trades yet. It might make the difference between taking it or sitting on the sidelines.

We have to gain the experince that some trades take. On ly wa y is to get our feet wet.. The 5:00 oclock trades require a bit of trust of the ma. and you must jump in as the ma's are dancing about trying to stay away from you.. But look at both pairs right now.. they are trades you can take. and make $$ off of.

Trade Well Ken
Good Trading To All ; Ken Lee
  • #22,755
  • Aug 14, 2009 10:51am Aug 14, 2009 10:51am
Booked more profit on my shorts at 6515.
Just digging in the trenches like everyone else!
  • #22,756
  • Aug 14, 2009 10:55am Aug 14, 2009 10:55am
Quoting sailor68
Nice entry, did you exit already ? because at this moment price stay on ema5 again

I diid add to my position at -10 and was able to close with +4 .. The E/J had turned backup here on Tuesday look at your 4 hr. I had already taken a long from the bottom for 15. But I am waiting for confirmation of the turn . I get tired of being under the bus on fridays..
Good Trading To All ; Ken Lee
  • #22,757
  • Aug 14, 2009 10:55am Aug 14, 2009 10:55am
Quoting KENNETH lEE
No not at all I mainlly enter with a full position. When I cover I normally take 2/3 off but thats just me.. Everyones different. The whole key is to have as many positive trades as possible. But if The trade looks questionable. Or your just not used to certian types of trades yet. It might make the difference between taking it or sitting on the sidelines.

We have to gain the experince that some trades take. On ly wa y is to get our feet wet.. The 5:00 oclock trades require a bit of trust of the ma. and you must jump in as the ma's are dancing...

thanks a lot.. I need a little bit more screen time..
  • #22,758
  • Aug 14, 2009 10:56am Aug 14, 2009 10:56am
Quoting eohater
You hunting for a long position on the mistress? I've got my eyes peeled for one, I was wanting around 134.15. Turn of the h4 will lead the way for that possibly.
Flat on her and down to my last soldier short on GU.

Usually try to end up by noon on Friday. It's 5 oclock some where.
  • #22,759
  • Aug 14, 2009 10:59am Aug 14, 2009 10:59am
Quoting eohater
Don't beat yourself up! You had a good entry, just a premature exit on it. In time, you will become more comfortable with taking partial profit, covering the position and booking more along the way. Your entry long went right to the m15 35. I added to my shorts at that price with new soldiers since my position was reduced from profit taking earlier.

Good job on the trade!
"Dr., I suffer from premature exits".

"Take an EO and several MAs every 15m.
Also add some lemon to the mix."

"What's the lemon for?"

"To wipe that smile off of your face."

Dr. D.
  • #22,760
  • Aug 14, 2009 10:59am Aug 14, 2009 10:59am
Quoting PippiNole
Flat on her and down to my last soldier short on GU.

Usually try to end up by noon on Friday. It's 5 oclock some where.
It is Friday! Damn, I forgot for a minute. I'm going to join you on that move as well.

So, time for lunch! Be back in a little bit.
Just digging in the trenches like everyone else!
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