Trade what you see NOT what you expect | Page 1358 | Forex Factory

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Trade what you see NOT what you expect

  • #27,141
  • Nov 9, 2009 5:33am Nov 9, 2009 5:33am
Quoting macc
I'm never the most confident and move to cover my entry as early as possible, often too early. I've also been closing out Asia trades completely before hitting the sack, assuming they were going to turn and not wanting to give pips back. Fortunately this one made a good push from the get go so I let a small portion run and my stop was still intact when I woke up pre-Europe.

I bailed short of 16800 aware of the round number and that +/- 200 pips could have been a possible daily limit.

If only they all worked out this way.

Macc
That was awesome MACC.. Great Going Dude...
Good Trading To All ; Ken Lee
  • #27,142
  • Nov 9, 2009 6:25am Nov 9, 2009 6:25am
Good morning/afternoon, fellows.
What a jump from Sunday night!

I drew a couple channels up, but pin is forming on GU 4H.
And stochs are in overbought zone on 1H.
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  • #27,143
  • Nov 9, 2009 8:41am Nov 9, 2009 8:41am
Quoting KENNETH lEE
That was awesome MACC.. Great Going Dude...
Thanks Ken. I wish I could say these sorts of trades were coming naturally all the time but I still miss my mark plenty. As you have said previously, that can be the frustrating thing when you "get it" sometimes and then not others.

My personal way to tap in to EO's method has been to focus on the 15m 35sma with the +/- 35 pip zone mentioned in EO's worksheet. I'm looking for an entry at the outer limits of the +/- 35 pip zone to take me back to the ma's (and possibly cross through) or an entry at the ma's to trade a bounce. The key (for me at least) being to wait for an appropriate pa candle, preferably at a ppa "line in the sand".

When/if we break out of the +/- 35 pip zone I try to focus on the natural ebb/flow of price in a trend with my eye on the higher time frames for horizontal supp/res (or higher time frame ma's) where price may pause or turn, or obvious reversal patterns/candles. The idea being (as you have pointed out many times) to let the winners run for the maximum possible return.

As is often mentioned, this is all easier said than done and my main efforts recently have (in a similar way to yourself) been to focus on getting my mind in the right place to carry out the theory in the real world. My few remaining brain cells have a real battle on their hands

Keep up the great work on here Ken. Much appreciated.

Macc
  • #27,144
  • Nov 9, 2009 9:14am Nov 9, 2009 9:14am
Quoting macc
Thanks Ken. I wish I could say these sorts of trades were coming naturally all the time but I still miss my mark plenty. As you have said previously, that can be the frustrating thing when you "get it" sometimes and then not others.

My personal way to tap in to EO's method has been to focus on the 15m 35sma with the +/- 35 pip zone mentioned in EO's worksheet. I'm looking for an entry at the outer limits of the +/- 35 pip zone to take me back to the ma's (and possibly cross through) or an entry at the ma's to trade a bounce. The key (for me...
Thanks For sharing the way you apply the strategy. There are many ways to use the information here to trade well. It just shows you don't have to be perfect with all the entries . Just use what your comfortable first then add to it..

Nice Job Ken
Good Trading To All ; Ken Lee
  • #27,145
  • Nov 9, 2009 9:39am Nov 9, 2009 9:39am
Quoting KENNETH lEE
Thanks For sharing the way you apply the strategy. There are many ways to use the information here to trade well. It just shows you don't have to be perfect with all the entries . Just use what your comfortable first then add to it..

Nice Job Ken
Totally agree Ken. Focus/discipline is not my strongest subject so it helped me to narrow my target a little and just try to trade the set-ups I was comfortable with. That's the great thing about this method. There are plenty of options to work with.

My level of patience was already ok but working on some of the other mental aspects helped me a lot too. I hadn't paid that enough attention previously.

Macc
  • #27,146
  • Nov 9, 2009 9:59am Nov 9, 2009 9:59am
For the adventurous, we're putting in a double bottom on the m15.
Hi, my name is Barry and you can keep your doctor...
  • #27,147
  • Nov 9, 2009 2:16pm Nov 9, 2009 2:16pm
Wonder if anyone can help explain a setup for me. Check out the 4h on the EJ. The two spinning tops looked like a for sure that she was heading back down. But as you can see the next candle is higher. Any thoughts?
Cap
  • #27,148
  • Nov 9, 2009 3:19pm Nov 9, 2009 3:19pm
Quoting The Captain
Wonder if anyone can help explain a setup for me. Check out the 4h on the EJ. The two spinning tops looked like a for sure that she was heading back down. But as you can see the next candle is higher. Any thoughts?
I'm bearish on EJ myself. I have been all day. If we break down and look at our lower time frame charts though, we can see that she has consolidated all day during the US Session. She can go either way at this point. Once she makes a break, she will confirm it and continue in that direction. At this point, she's just bouncing up and down waiting for a driver. We're not the drivers, just passengers, so don't try and drive it.
Just digging in the trenches like everyone else!
  • #27,149
  • Nov 9, 2009 3:41pm Nov 9, 2009 3:41pm
Thanks alot EO.
Cap
  • #27,150
  • Nov 9, 2009 4:13pm Nov 9, 2009 4:13pm
Quoting eohater
I'm bearish on EJ myself. I have been all day. If we break down and look at our lower time frame charts though, we can see that she has consolidated all day during the US Session. She can go either way at this point. Once she makes a break, she will confirm it and continue in that direction. At this point, she's just bouncing up and down waiting for a driver. We're not the drivers, just passengers, so don't try and drive it.

Great Statement we should all remember..
Good Trading To All ; Ken Lee
  • #27,151
  • Nov 9, 2009 11:32pm Nov 9, 2009 11:32pm
Being short would have just made somebody very happy. This drop on no news??
Cap
  • #27,152
  • Edited 2:45am Nov 10, 2009 2:43am | Edited 2:45am
Morning Guys

Hi Captain

This seems to be the consensus for the drop

$GBPUSD: Testing below pivot support at 1.6628 after Fitch comments, break lower to target 1.6501

about 3 hours ago from Echofon
$GBPUSD DROPS OVER 100 PIPS IN LESS THAN 10 MINUTES AFTER RATINGS AGENCY FITCH SAYS UK IS MOST AT RISK OF LOSING "AAA" CREDIT RATING

Not sure how this will affect the days movements however,,, so I will try to trade what we see after the 8 am H1 candle and 5am H4 prints at 9am..

Good trading

Rob

Quoting The Captain
Being short would have just made somebody very happy. This drop on no news??
  • #27,153
  • Nov 10, 2009 5:57am Nov 10, 2009 5:57am
Good morning all. Price closed below round number and the 50ma then went back to touch it then back down good enough for me like to see the 1.6600 level
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  • #27,154
  • Nov 10, 2009 6:06am Nov 10, 2009 6:06am
I've added on at the 35ma 1.6672
  • #27,155
  • Nov 10, 2009 6:15am Nov 10, 2009 6:15am
The last 1hr bar closed below all the 1hr ma's and is bearish see if this can push it down my 4hr closed higher though
  • #27,156
  • Nov 10, 2009 6:24am Nov 10, 2009 6:24am
Quoting 4fun
The last 1hr bar closed below all the 1hr ma's and is bearish see if this can push it down my 4hr closed higher though
Good morning/afternoon to all.
I am watching the current 4H very closely.
If 6650 will hold, so long is possible.
Attached Image (click to enlarge)
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  • #27,157
  • Nov 10, 2009 6:28am Nov 10, 2009 6:28am
Quoting Komissar
Good morning/afternoon to all.
I am watching the current 4H very closely.
If 6650 will hold, so long is possible.
Hey Komissar, I am watching that my last 4hr bar low was 1.6633 like to see that tested
  • #27,158
  • Nov 10, 2009 6:36am Nov 10, 2009 6:36am
Quoting 4fun
Good morning all. Price closed below round number and the 50ma then went back to touch it then back down good enough for me like to see the 1.6600 level
Catched the same move but I aim for 1,6630-1,6625.
  • #27,159
  • Nov 10, 2009 6:36am Nov 10, 2009 6:36am
The mistress is playing at a round number but I didnt pull trigger
  • #27,160
  • Nov 10, 2009 6:43am Nov 10, 2009 6:43am
Quoting MCFly
Catched the same move but I aim for 1,6630-1,6625.
McFly you've been catching some of these morning moves you've obviously been reviewing the charts posted in this thread. I am a big fan of charts really enjoy when Ken, EO or anyone post a chart with narration I go over that stuff very closely. Price is behaving atmhttp://cdn.forexfactory.com/images/icons/icon7.gif
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