Trade what you see NOT what you expect | Page 1280 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Why did you start trading and what do you expect from it? 19 replies

How soon after you put on a trade do you expect to be "in the money"? 28 replies

How do you see trading - Do you see it as a means to an end? 12 replies

how long do you expect to trade? 10 replies

Trade What You See And Not What You Hope 0 replies

Attachments: Trade what you see NOT what you expect
Exit Attachments

Trade what you see NOT what you expect

  • #25,581
  • Edited 1:15pm Sep 8, 2009 12:54pm | Edited 1:15pm
Quoting RichLadyFX
What made you take the plunge @ 6344 and holding it until 6544? I was long too somewhere but out for 20 pips gain.
Hi RichLady,

Well for me, when I saw the 1H chart showing the candle marked with the Blue Arrow I sat up and took notice because it was obvious that orders were starting to come in. After seeing the candle marked with the Red arrow not get back down to support I "guessed" they may be buying. Since my SL could be below support and only 30 pips or so away, for me it was worth the shot.

As far as staying in it? It was such a strong and obvious move up I saw no reason to get out anytime soon. So I just followed it up with stops on the 15m chart along the way. My exit(s) were simply based on S/R levels and the slowing of the up move. As I said in another post here, I honestly wasn't expecting that big a move. I just stayed with it to try and get everything I could from it.

Hope that helps...
Attached Image (click to enlarge)
Click to Enlarge Name: gu_1_hour.gif Size: 31 KB
Ghost Rider - WWTBMD?
  • #25,582
  • Sep 8, 2009 1:48pm Sep 8, 2009 1:48pm
chris great explanation on your trade!!!
  • #25,583
  • Sep 8, 2009 1:48pm Sep 8, 2009 1:48pm
the wife is starting to drop her ummmmm price
  • #25,584
  • Sep 8, 2009 1:52pm Sep 8, 2009 1:52pm
Quoting johnnykanoo
the wife is starting to drop her ummmmm price
It's OK John, you can say PANTIES.....

Holding a short on her at 6532 ATM. Closed half at 6512 and SL at 6517.

Second half of my 6560 got stopped out at +26
Ghost Rider - WWTBMD?
  • #25,585
  • Sep 8, 2009 1:53pm Sep 8, 2009 1:53pm
good afternoon guys......been some nice trades this week. I missed the long from euro session but traded the down moves yesterday and today.
  • #25,586
  • Sep 8, 2009 2:13pm Sep 8, 2009 2:13pm
Quoting albchr
Hi RichLady,

Well for me, when I saw the 1H chart showing the candle marked with the Blue Arrow I sat up and took notice because it was obvious that orders were starting to come in. After seeing the candle marked with the Red arrow not get back down to support I "guessed" they may be buying. Since my SL could be below support and only 30 pips or so away, for me it was worth the shot.

As far as staying in it? It was such a strong and obvious move up I saw no reason to get out anytime soon. So I just followed it up with stops on the 15m chart...
Thanks. There are times when i'm in the right direction and letting profit runs, it runs away from me. Thats why i always bail out in the range of 20-40 pips. How to really tackle this?
Great Bodies are Engineered not Born
  • #25,587
  • Sep 8, 2009 2:28pm Sep 8, 2009 2:28pm
Quoting RichLadyFX
Thanks. There are times when i'm in the right direction and letting profit runs, it runs away from me. Thats why i always bail out in the range of 20-40 pips. How to really tackle this?
Take partial profit off in this area and cover your position. Use your HTF for your targets along with your ma's on the m15, h1, h4.
Just digging in the trenches like everyone else!
  • #25,588
  • Sep 8, 2009 2:31pm Sep 8, 2009 2:31pm
Quoting eohater
Take partial profit off in this area and cover your position. Use your HTF for your targets along with your ma's on the m15, h1, h4.
Thank you. I'll try to apply this next time.
Great Bodies are Engineered not Born
  • #25,589
  • Sep 8, 2009 2:38pm Sep 8, 2009 2:38pm
Quoting RichLadyFX
Thanks. There are times when i'm in the right direction and letting profit runs, it runs away from me. Thats why i always bail out in the range of 20-40 pips. How to really tackle this?
Well, that's why EO teaches us to take some profit and cover the trade pretty quickly. That way, you simply can't loose.

The initial stop loss is where having a plan in mind "first" is so important. By doing so you've already accepted that as a possible loss so if it gets hit, no big deal and you move on.

For staying in the trade as long as possible, having the S/R zones identified "first" is key. When the move appears to be a strong one, I simply wait until it gets past a S/R level and then move my stop to just below/above it. I use the 15m (sometimes even the 5m) to do this because it's just easier to read the PA and spot a possible turn around quicker so I can either adjust my stops or just get out if it looks like it's turning around hard.

I've been told by many good traders that reading PA is somewhat of an art. I believe this to be true and it needs to be learned as best we can.

Patience is also key. As you can see, I waited 3 hours before entering that trade so I could see, as best as I could, which way I thought it might go.
Ghost Rider - WWTBMD?
  • #25,590
  • Sep 8, 2009 2:39pm Sep 8, 2009 2:39pm
Quoting eohater
Take partial profit off in this area and cover your position. Use your HTF for your targets along with your ma's on the m15, h1, h4.

...beat me to it....
Ghost Rider - WWTBMD?
  • #25,591
  • Sep 8, 2009 2:50pm Sep 8, 2009 2:50pm
Quoting RichLadyFX
Thank you. I'll try to apply this next time.
Take this trade. Short at 6533. I took half at 6512 and my SL is now at 6517 so it's already a "no loose" trade.

On this 15m chart the yellow dots are 15m S/R (highs/lows) I can see it "might" turn around by the PA so I'll watch it closely. If it drops and closes below the dots I marked with the red arrow, I'll move my SL to just above them and watch PA from there.
Attached Image (click to enlarge)
Click to Enlarge Name: gu_15m.gif Size: 39 KB
Ghost Rider - WWTBMD?
  • #25,592
  • Sep 8, 2009 3:28pm Sep 8, 2009 3:28pm
Hey Chris

I have noticed your s/r indicator is showing different levels to the one I use.
Can I ask what mode and LBP settings you are using ( assuming it is vt version2)
If it is not convenient for you to check I will go through my settings to tune them

Rob




Quoting albchr
Take this trade. Short at 6533. I took half at 6512 and my SL is now at 6517 so it's already a "no loose" trade.

On this 15m chart the yellow dots are 15m S/R (highs/lows) I can see it "might" turn around by the PA so I'll watch it closely. If it drops and closes below the dots I marked with the red arrow, I'll move my SL to just above them and watch PA from there.
  • #25,593
  • Sep 8, 2009 6:43pm Sep 8, 2009 6:43pm
I would like to apologize to everyone especially Cisco , His comments were accurate and his concerns valid. I had no right to say what I did in regards to his comments. If anything I should have done so privately.

I hope all is forgiven between us , So Sorry Cisco .. Ken

I am still evaluating my own thoughts on if I should post my views or not.. I do have issues trading but they revolve around my ability to manage trades. Not the setups or entries.

What I normally post are my own opinions which may not serve others in the right way. In my life I have always lead by believing in those that worked with me or for me that they could do anything. Maybe this is incorrect to impart to the masses giving false hope. But I personally can't teach any other way. We are beat down so much in life that I will have no part in it. So this is the delima that I will have to resolve. But I wish everyone the very best and hope to contribute some along the way.


Trade Happy Ken Lee
Good Trading To All ; Ken Lee
  • #25,594
  • Sep 8, 2009 7:08pm Sep 8, 2009 7:08pm
Quoting KENNETH lEE
I would like to apologize to everyone especially Cisco , His comments were accurate and his concerns valid. I had no right to say what I did in regards to his comments. If anything I should have done so privately.

I hope all is forgiven between us , So Sorry Cisco .. Ken

I am still evaluating my own thoughts on if I should post my views or not.. I do have issues trading but they revolve around my ability to manage trades. Not the setups or entries.

What I normally post are my own opinions which may not serve others in the right way. In my...
Hi Ken,

Good to see you post. You add a lot of information to the mix that I personally value a LOT. Some folks may be ready, others not. So here's a silly little analogy that I think comes at least close to the mark.

I'm a professional carpenter and as such, I can drive a 12 penny framing nail with one shot. Now say I wrote a book (or post) explaining how to do that. Someone reads it and thinks without years of practice, they can as well and they smash their thumb to hamburger. Is that my fault? Just because I provide the information or example of how to do it or what "can" be done, doesn't mean everyone can or should try it.

You add information and examples of how to enter trades. It's up to "US" to take from it what we can and grow with it. I sincerely hope you'll continue as if nothing happened. Same for Cisco as I value his input as well.

Chris
Ghost Rider - WWTBMD?
  • #25,595
  • Sep 8, 2009 8:46pm Sep 8, 2009 8:46pm
Quoting KENNETH lEE
I would like to apologize to everyone especially Cisco , His comments were accurate and his concerns valid. I had no right to say what I did in regards to his comments. If anything I should have done so privately.

I hope all is forgiven between us , So Sorry Cisco .. Ken...
I'm surely one of those who benefitted immensely with your thought and insight. Please continue to contribute.
Great Bodies are Engineered not Born
  • #25,596
  • Sep 8, 2009 8:57pm Sep 8, 2009 8:57pm
Quoting albchr
Take this trade. Short at 6533. I took half at 6512 and my SL is now at 6517 so it's already a "no loose" trade.

On this 15m chart the yellow dots are 15m S/R (highs/lows) I can see it "might" turn around by the PA so I'll watch it closely. If it drops and closes below the dots I marked with the red arrow, I'll move my SL to just above them and watch PA from there.
Thanks chris.

How do you draw the yellow dot?
Great Bodies are Engineered not Born
  • #25,597
  • Sep 8, 2009 9:57pm Sep 8, 2009 9:57pm
Quoting KENNETH lEE
I would like to apologize to everyone especially Cisco , His comments were accurate and his concerns valid. I had no right to say what I did in regards to his comments. If anything I should have done so privately.

I hope all is forgiven between us , So Sorry Cisco .. Ken

I am still evaluating my own thoughts on if I should post my views or not.. I do have issues trading but they revolve around my ability to manage trades. Not the setups or entries.

What I normally post are my own opinions which may not serve others in the right way. In my...
....Looking forward to your continued contributions bro..
Patience + Discipline - Greed = Success
  • #25,598
  • Sep 8, 2009 9:59pm Sep 8, 2009 9:59pm
Patience + Discipline - Greed = Success
  • #25,599
  • Sep 8, 2009 10:04pm Sep 8, 2009 10:04pm
I'm thinking...maybe pullback to 6450 then possibly a test of 674x..... not in a straight line though...
Attached Image (click to enlarge)
Click to Enlarge Name: week.gif Size: 34 KB
Attached Image
Patience + Discipline - Greed = Success
  • #25,600
  • Sep 8, 2009 10:06pm Sep 8, 2009 10:06pm
Quoting Turtle
Glad to see everyone is doing well.

I've been long since Tuesday @ 6198 and covered, will see how she rides, like the way that weekly candle is starting to shape up.

School has been keeping a brother busy.....:nerd:

Hope everyone enjoys the weekend, Bob is so ready to get together with me tonight.

Back to the books...

HOLLA
Patience + Discipline - Greed = Success
10 traders viewing now