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Trade what you see NOT what you expect

  • #26,441
  • Oct 6, 2009 4:49am Oct 6, 2009 4:49am
Quoting KENNETH lEE
take a look .. You may have already seen it now. That is the way I am see great after the fact LOL.
Yeah, absolutely saw that long,but kept waiting/wanting for it to actually touch the line for some reason,so it took off without me and then froze like a rabbit in the headlights and missed all the rise,anybody else behave like this,cos I sure do need a cure for it lol.
  • #26,442
  • Oct 6, 2009 5:05am Oct 6, 2009 5:05am
playing a 5 o'clock at the moment currently a few pips in...had a long stopped for b/e also.
  • #26,443
  • Oct 6, 2009 5:19am Oct 6, 2009 5:19am
Quoting KENNETH lEE
take a look .. You may have already seen it now. That is the way I am see great after the fact LOL.
price doesn't touch 35/50 On my chart.. so I miss the long trade.. But I enter short on Top...

and again thank you Kenneth..

KENNETH ...could you tell please about MM trading GU.. Max SL trades for one Day?.. Win target for one Day?.. and how much % You risk on one trade.. 2% from acc size??
  • #26,444
  • Oct 6, 2009 5:21am Oct 6, 2009 5:21am
Quoting lazyboy
playing a 5 o'clock at the moment currently a few pips in...had a long stopped for b/e also.
tp 50% for 15 pips running the rest.
  • #26,445
  • Oct 6, 2009 5:49am Oct 6, 2009 5:49am
Quoting KENNETH lEE
take a look .. You may have already seen it now. That is the way I am see great after the fact LOL.
Hi Ken, I wasn't arround when the first set up occured but catched the short entry. I covered near the 5 and the 10 ema which was definitely too early.
  • #26,446
  • Oct 6, 2009 6:58am Oct 6, 2009 6:58am
Quoting MCFly
Hi Ken, I wasn't arround when the first set up occured but catched the short entry. I covered near the 5 and the 10 ema which was definitely too early.
Imo that was the perfect place to cover mate but only half, leave the rest on as EO says and then manage it from there....the only thing we know is its going east
  • #26,447
  • Oct 6, 2009 7:24am Oct 6, 2009 7:24am
Quoting InDjaLV
price doesn't touch 35/50 On my chart.. so I miss the long trade.. But I enter short on Top...

and again thank you Kenneth..

KENNETH ...could you tell please about MM trading GU.. Max SL trades for one Day?.. Win target for one Day?.. and how much % You risk on one trade.. 2% from acc size??

What is right for one person isn't going to be right for others. After you get exprience and no what your average draw down may be it is easier to decide what % of your account you want to risk.. My ideas are not exactlly the same as most folks. I will be covering this in the post I have been making after the signals. But if your not making more prfotable trades than lsers. The 1% rule or less should be in place. There is no reason you should lose much money to learn to trade .. If your really losing a lot. Go to demo for a while. just to learn entries and such. Or paper trade writing down or marking your charts with what you think is good entries.

I also vary my trade amount if I don't feel real good about a entry I will enter with less. Everyone has to get out of this all or nothing mentality. It just isn't so. We have trades that are different risk just like trades have different stops. But above all lose as little as possible. That is the key in my mind. To make any profits you have to make back what you lost first. So don't lose any if you can..

I know this didn't help much but we will go over it better later it just isn't a this and this formula.. At least I don't thing so.. Trade Sane Ken
Good Trading To All ; Ken Lee
  • #26,448
  • Oct 6, 2009 7:27am Oct 6, 2009 7:27am
lazyboyQuote:
Originally Posted by MCFly http://cdn.forexfactory.com/images/buttons/viewpost.gif
Hi Ken, I wasn't arround when the first set up occured but catched the short entry. I covered near the 5 and the 10 ema which was definitely too early.

Imo that was the perfect place to cover mate but only half, leave the rest on as EO says and then manage it from there....the only thing we know is its going east

This is true there is never nothing wrong with covering plus it was a strong uptrend at the time.. But leaving some runners would be good also as we can see in hindsight.. That is my problem as well not letting the trade play out fully.. But we will get there ... Nice trade by the way....
Good Trading To All ; Ken Lee
  • #26,449
  • Oct 6, 2009 8:15am Oct 6, 2009 8:15am
Heres my 1hr chart just woke up and missed the move glad some got a piece of it. Like to see this retrace some, I am flat and need to find a seat like the 1.5960 area and all those ma's

Ken you've posted lots of useful info great job as usual!!
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  • #26,450
  • Oct 6, 2009 8:16am Oct 6, 2009 8:16am
Good morning, fellows

Does anybody else see GU reaching 5960s?

P. S. Missed previous post by seconds, but I am not alone. Good!
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  • #26,451
  • Oct 6, 2009 8:21am Oct 6, 2009 8:21am
Quoting KENNETH lEE
lazyboyQuote:
Originally Posted by MCFly http://cdn.forexfactory.com/images/buttons/viewpost.gif
Hi Ken, I wasn't arround when the first set up occured but catched the short entry. I covered near the 5 and the 10 ema which was definitely too early.

Imo that was the perfect place to cover mate but only half, leave the rest on as EO says and then manage it from there....the only thing we know is its going east

This is true there is never...
Hi Ken and lazyboy,

I'm interessted in how many portions you divide your trades usually. I remeber that ken wrote that I should break 1 standardlot in 10 minilots (0.1). How much of you trade do you cover when the price hits the 5 ema, 10 ema... (I know in the end there are other things like s&r which come in play) Aditionally I have read in this thread that I should partially enter. For example on the open of the next candle after a valid signal enter with 1/4 of your soldiers when it goes against you take another 1/2...
  • #26,452
  • Oct 6, 2009 8:24am Oct 6, 2009 8:24am
Atm the round 1.5900 is under attack if it turns resistance really tough but that 1.5960 area I am watching too anything can happen thats the only 4 sure
  • #26,453
  • Oct 6, 2009 8:29am Oct 6, 2009 8:29am
Quoting KENNETH lEE
lazyboyQuote:
Originally Posted by MCFly http://cdn.forexfactory.com/images/buttons/viewpost.gif
Hi Ken, I wasn't arround when the first set up occured but catched the short entry. I covered near the 5 and the 10 ema which was definitely too early.

Imo that was the perfect place to cover mate but only half, leave the rest on as EO says and then manage it from there....the only thing we know is its going east

This is true there is...
I find its the best way to try and play the higher t/f bigger moves with a lower risk and also less stress, once you have t/p and moved the stop to flat its a free ride wherever it gos
  • #26,454
  • Oct 6, 2009 8:38am Oct 6, 2009 8:38am
Just to show how useful a tool a line chart can be and then with candles on. When price is moving up or down doesnt matter look left for decent jags and price reacts more times than not
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  • #26,455
  • Oct 6, 2009 8:38am Oct 6, 2009 8:38am
Quoting MCFly
Hi Ken and lazyboy,

I'm interessted in how many portions you divide your trades usually. I remeber that ken wrote that I should break 1 standardlot in 10 minilots (0.1). How much of you trade do you cover when the price hits the 5 ema, 10 ema... (I know in the end there are other things like s&r which come in play) Aditionally I have read in this thread that I should partially enter. For example on the open of the next candle after a valid signal enter with 1/4 of your soldiers when it goes against you take another 1/2...
I use 6 orders for my full trade value.. It gives me options to enter what I want to as far as risk and also . If I ever do it right .. the option to scale profits out at different levels. As far as partial entries. Really the main one is the pins. because sometimes price will pull back in to the wick before heading the correct way. You could wait to see if it pulls back but could miss the trade. I wouldn't enter with anything less than a 1/3 or 1/2 . On those because if it heads good straight away you don't have anything on the trade.. Hope this helps we will cover this more on the signals.
Good Trading To All ; Ken Lee
  • #26,456
  • Oct 6, 2009 9:00am Oct 6, 2009 9:00am
Would like to see this 1hr candle close above 1.5921 dont think it will happen cant tell if price just catching its breath or really trying to put in a temporary bottom the 1hrs showing but that last 4hr beob has me scratchin my head
  • #26,457
  • Oct 6, 2009 10:12am Oct 6, 2009 10:12am
I've taken a long at 1.5924 off the 1hr test at 1.5921 and 15m ma's
  • #26,458
  • Oct 6, 2009 10:17am Oct 6, 2009 10:17am
Quoting MCFly
Hi Ken and lazyboy,

I'm interessted in how many portions you divide your trades usually. I remeber that ken wrote that I should break 1 standardlot in 10 minilots (0.1). How much of you trade do you cover when the price hits the 5 ema, 10 ema... (I know in the end there are other things like s&r which come in play) Aditionally I have read in this thread that I should partially enter. For example on the open of the next candle after a valid signal enter with 1/4 of your soldiers when it goes against you take another 1/2...
Hey MC if your doing one standard (as I am ) I would rip it into 2 lots of 5 minis. That's what I have done until I can increase my size.
  • #26,459
  • Oct 6, 2009 10:19am Oct 6, 2009 10:19am
Cisco breakout the bullwhip
  • #26,460
  • Oct 6, 2009 10:26am Oct 6, 2009 10:26am
The misstress is where all the pips are this morning
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