Trade what you see NOT what you expect | Page 1371 | Forex Factory

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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

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Trade what you see NOT what you expect

  • #27,401
  • Nov 26, 2009 6:44am Nov 26, 2009 6:44am
Here is a 5 min chart showing those area .. You don't have to use a 5 min chart just pay attention at these areas and you will see the movement.
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Good Trading To All ; Ken Lee
  • #27,402
  • Nov 26, 2009 10:27am Nov 26, 2009 10:27am
http://i275.photobucket.com/albums/j...ig_1804516.gif
Good Trading To All ; Ken Lee
  • #27,403
  • Nov 26, 2009 10:32am Nov 26, 2009 10:32am
Quoting KENNETH lEE
http://i275.photobucket.com/albums/j...ig_1804516.gif
Have a good one, just a regular day here, a regular day with a very flat market.
  • #27,404
  • Nov 26, 2009 10:37am Nov 26, 2009 10:37am
Quoting BenScoobert
Have a good one, just a regular day here, a regular day with a very flat market.

Flat ??? What are you looking at ? shorts everywhere.

Been nice trading no matter what entry no reversals yet but may not happen.

Happy Thanksgiving..

ps what is everyone going to do if we go back to 60 pip range days.. LOL
Good Trading To All ; Ken Lee
  • #27,405
  • Nov 26, 2009 11:09am Nov 26, 2009 11:09am
Quoting KENNETH lEE
Flat ??? What are you looking at ? shorts everywhere.

Been nice trading no matter what entry no reversals yet but may not happen.

Happy Thanksgiving..

ps what is everyone going to do if we go back to 60 pip range days.. LOL
I wish every day would be so flat like today
  • #27,406
  • Nov 26, 2009 6:38pm Nov 26, 2009 6:38pm
Big moves in asia this morning any idea whats triggering this
  • #27,407
  • Nov 26, 2009 7:57pm Nov 26, 2009 7:57pm
Quoting frenz
Big moves in asia this morning any idea whats triggering this

Dubia problem and hint of rate cut in euro interest.
Good Trading To All ; Ken Lee
  • #27,408
  • Nov 26, 2009 7:57pm Nov 26, 2009 7:57pm
(IGM)[EUR/DLR] falls to 1.4938 on ECB rate cut rumor and overall anti-risk...

[EUR/DLR] falls to 1.4938 on ECB rate cut rumor and overall anti-risk assets buying, and is rebounding back to the 1.4980-1.5000 zone along with Kamei and Fujii driven Eur/Yen's rebound. The WSJ says European banks faces potential losses of an estimated $40 billion in exposures to Dubai, and analysts see about half of the $60 billion liabilities by the Dubai World, within the city state's $80 billion, are held by European banks.
Good Trading To All ; Ken Lee
  • #27,409
  • Nov 27, 2009 1:35am Nov 27, 2009 1:35am
wow nice bounces off 35GU, 21 EU and 50 EJ
  • #27,410
  • Nov 27, 2009 8:13am Nov 27, 2009 8:13am
Hi All

I have been lurking here for a few months now and have some questions regarding this strategy.

What I am trying to understand is yesterday cable sold off and then this morning it turned and started to go up should I have tried to enter at the bottom or do I wait for it to get to the ma's. THe reson I ask is it seems that the system favours trading away from the MA's I am not sure when to enter really.

I have read the PDF and your slides you have posted Ken but I am still sort of confused lol

Sorry to be a nuisance
  • #27,411
  • Nov 27, 2009 9:35am Nov 27, 2009 9:35am
Quoting ForexLady
Hi All

I have been lurking here for a few months now and have some questions regarding this strategy.

What I am trying to understand is yesterday cable sold off and then this morning it turned and started to go up should I have tried to enter at the bottom or do I wait for it to get to the ma's. THe reson I ask is it seems that the system favours trading away from the MA's I am not sure when to enter really.

I have read the PDF and your slides you have posted Ken but I am still sort of confused lol

Sorry to be a nuisance
No problem ,, This is the only way many can learn as they are scared to ask the same questions.. But yes the strategy has entries for every area the tops and bottoms are the best of course. Those are the ones that most struggle to get right though. That is the only reason I suggest trading away from the ma's to start as it is a bit easier for begginers.

But you don't have to limit yourself to any one trade. It is just easier for most to learn one or two entries then move on to the rest. If you have some trading exprience then certian entries will be similiar to some you already are use too. Just adopt some of the principals off here to enhance those you know.

But if you read through the pdf again you will see that the reversal trades
Shooting stars, hangman,Hammer and the DBHLC and IB and engulfing are all used to enter when the price is making a new high or Low. Just try and have as much confirmation formk S/R trendlines channels or whatever is avaialbe off all time frame charts to be more certian of your entries.

Then lock profit as you reach the different MA's the higher even more so . Because then you start to see retracement trades.

As you can more exprience trading this startegy or system. You will see each trade actually flows into the next one. So if you are very ggod . You could either manage your trade at each area by scaling in or out . Or possiblly reversing at the exact correct entry point. Infinty is very good at reversing trades at the right spots. ( Wonder how he is ?)

Just be carefull don't risk to much till you KNOW FOR A FACT , you got it. aand practice.. Hope this helps. If you need particualrs on any trades you take post them and someone will respond..

Trade Well Ken
Good Trading To All ; Ken Lee
  • #27,412
  • Nov 27, 2009 9:45am Nov 27, 2009 9:45am
Quoting KENNETH lEE
No problem ,, This is the only way many can learn as they are scared to ask the same questions.. But yes the strategy has entries for every area the tops and bottoms are the best of course. Those are the ones that most struggle to get right though. That is the only reason I suggest trading away from the ma's to start as it is a bit easier for begginers.

But you don't have to limit yourself to any one trade. It is just easier for most to learn one or two entries then move on to the rest. If you have some trading exprience then certian entries...
Thanks Ken I will give it a go
  • #27,413
  • Edited 5:54pm Nov 27, 2009 5:32pm | Edited 5:54pm
Hi Ken,

I have a question reg page 9b of your book.

Isn't the high of the candle preceding candle A the PA line because it's close was higher? And after that one the third candle after A (before the green spinning top)?

Happy Thanksgiving to All.


Cheers

Thomas
  • #27,414
  • Nov 27, 2009 8:51pm Nov 27, 2009 8:51pm
Quoting tdeu
Hi Ken,

I have a question reg page 9b of your book.

Isn't the high of the candle preceding candle A the PA line because it's close was higher? And after that one the third candle after A (before the green spinning top)?

Happy Thanksgiving to All.


Cheers

Thomas

Yes your correct that would be PA line for that high of candle A.
The caption on that page should say PPA or Previous Price Action. The idea behind the price action lines is to locate arefrence line that has been the Support or in this case a good resistance Line. we pick the first candles wick as the first point because that is the intial move into this area. Until we get a higher close then the first candle to this area. We assume the rest are just retest of that line.

A lot of times the second or third or even more candles can be the one that forms a signal candle. Possiblly having a long wick trying to break the PA lline.

The third and 7th candle are the same hieght as A . When looking for PPA it is the same as picking S/R lines, look for the tops with the most hits . The few that push threw are just trying to break. You could even use the highest wick in that group candle 4 after A. The only point to using PA and PPA is to alert you to a possiblity of a trade.It is one of the few things we can see before a actual signal appears to help us to look a bit closer for the impending entry..

Hope this helps Ken
Good Trading To All ; Ken Lee
  • #27,415
  • Nov 28, 2009 5:17pm Nov 28, 2009 5:17pm
Hi Ken - question from your pdf book - the section on Harami and Engulfing (OB) Bars - is this the same as DBLHC/DBHLC patterns?

I note you made a comment in the book that Harami and OB's fall under the DBLHC/DBHLC pattern, but am unsure if they are exactly the same or if there are subtle differences.

Thanks in advance.
  • #27,416
  • Edited Nov 29, 2009 6:59am Nov 28, 2009 6:52pm | Edited Nov 29, 2009 6:59am
Quoting Taylor
Hi Ken - question from your pdf book - the section on Harami and Engulfing (OB) Bars - is this the same as DBLHC/DBHLC patterns?

I note you made a comment in the book that Harami and OB's fall under the DBLHC/DBHLC pattern, but am unsure if they are exactly the same or if there are subtle differences.

Thanks in advance.

yes they are the same what makes them the same is that they both are turning at the same high or low of the previous candle. the engulfing would be a more stronger signal as it is engulfing the previous candle which is showing a greater rejection or reversal from that high or low.

Hope this helps . Ken

I was thinking last night and checked this morning , and found I am probablly wrong with this. That the DBLHC and The DBHLC . That we have posted are engulfing only.
I still think they are similar . I was just going by the label because they are higher or lower closes than the previous candles. But according to James 16 where the screen shot came from they are suppose to be below or higher than the high and low not the close. So my mistake sorry for that.

Ken

But a IB is still a good signal as it shows some retracement and is inside the body of the previous candle. It can even be a hangman. But the proper DBHLC,DBLHC would be stronger.
Good Trading To All ; Ken Lee
  • #27,417
  • Nov 29, 2009 7:32am Nov 29, 2009 7:32am
Quoting 4fun
Looks to be flirting on a cliff

Hope everyone had a wonderful Thanksgiving and is recovering well.

That previous chart showed the mistress to be playing with trouble. She looks vulnerable more so now. Maybe a tl or 131.74 area touch and more south, 122 isnt far-fetched if she keeps hittin that holiday punchbowl.

The temptress has really been respecting that 50ema, I would like to grab a seat and hold up to 154
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  • #27,418
  • Nov 29, 2009 7:40am Nov 29, 2009 7:40am
I forgot to mention, been awhile since a daily closed below the 50 and when she turns I'll watch for a significant close below then a retrace touch to get aboard dont see it happening anytime soon but!
  • #27,419
  • Nov 29, 2009 1:14pm Nov 29, 2009 1:14pm
Just opened my Oanda chart a little before 2;00 estern U.S. was seeing price moving but wasn't saving any history E/J was up almost 150 pips from Fridays close. So I hit the sell button and a order went in. So I went to the user prefrences and apparentlly the market opens at 1:00 eastern . But there is always a good chance that the gap will close after it opens like that and sure enough made 62 pips real fast even after paying the crazy 10 pip spread.. Just some Information. My other broker doesn't open for another 3 hrs. 5:00 oclock.

Hope Evryone has a great Week Ken
Good Trading To All ; Ken Lee
  • #27,420
  • Nov 29, 2009 3:25pm Nov 29, 2009 3:25pm
Hi Ken nice move on the ej Im always a bit wary around the opening as the spreads are so big but it does tend to move in big multiples as the kiwis and aussies wake up.

Interested on your thoughts on the news. I like to read the news as it happens and keep my eye on the forex calendar but I do find it creates a slant on where i expect the moves to go. Hence the name of the thread

On friday for example the asian market picked up the news in Dubai and started to sell off , this was followed by the early london open for several hours but then it hits resistance and starts to retrace

Is this retracement where the technical analysts cut in and say " ok we have had a few big red candles news wasnt that bad anyway, green will eventually follow red so lets start to go long . and low and behold several hours later its back to where we started.

Are there any news items or dates on the calendar you follow more than others or do you keep it strictly technical ?
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