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Trade what you see NOT what you expect

  • #28,181
  • Jan 6, 2010 4:57am Jan 6, 2010 4:57am
Quoting Deputy Dawg
So we have a 62ema 1hr touch and also a 200ma touch to trade short but the price has broken above the 35/50 and 62 ema's (i just put that on myself as i like to see it) by a more than 35 pips which is saying longs are the way to go.So,which is the stronger better option to take ?? This is where I get confused with this stuff.Anybody else feel the same.
Price broke above them but then just as the price reached the 200sma we had (on my chart) a DBHLC which says to me down, so in my book that would take precedence. The point is, they are such tight stop losses that they are worth the risk/reward. Even if you went short after the hangman on the 15min after it touched the 62 (8.15am GMT candle) it would not have touched my stop losss of 25pips plus spread.
  • #28,182
  • Jan 6, 2010 5:14am Jan 6, 2010 5:14am
Quoting Deputy Dawg
So we have a 62ema 1hr touch and also a 200ma touch to trade short but the price has broken above the 35/50 and 62 ema's (i just put that on myself as i like to see it) by a more than 35 pips which is saying longs are the way to go.So,which is the stronger better option to take ?? This is where I get confused with this stuff.Anybody else feel the same.
For me personally I am not a fan of the first touch trades but dam do I love a good retest. For me after we hit the 200 sma on the 15 I set a PO right at the 200sma and hoped for a good retest, my stop always on retest trades like this is 10 + spread, no point in going any higher as it is either going to break through and keep on going or turn at the level.
  • #28,183
  • Jan 6, 2010 6:12am Jan 6, 2010 6:12am
Hello,

I had massive internet problems since christmas but now I can wish you a happy new year.

I'm short G/U atm.
  • #28,184
  • Jan 6, 2010 7:43am Jan 6, 2010 7:43am
Thank you for the replies,even with the tips and info on this thread,this sure ain't an easy game is it hehe.Hope you all took the signals and made some nice pips,turned right on my rising trendline too,about 80pips or so,as you may have guessed by now i was'nt in the trade,bugger
  • #28,185
  • Jan 6, 2010 8:48am Jan 6, 2010 8:48am
Good morning fellow traders!

How is the forex money machine treating everyone?
  • #28,186
  • Jan 6, 2010 8:57am Jan 6, 2010 8:57am
Quoting PippiNole
Good morning fellow traders!

How is the forex money machine treating everyone?
Hello Pipi,

Good morning? It's afternoon here in europe

It's really a good day so far.
  • #28,187
  • Jan 6, 2010 8:57am Jan 6, 2010 8:57am
Quoting PippiNole
Good morning fellow traders!

How is the forex money machine treating everyone?
Good morning Pippi, the girls were well behaved last night except the mistress for me so I just let her do her thinghttp://cdn.forexfactory.com/images/icons/icon7.gif
  • #28,188
  • Jan 6, 2010 8:58am Jan 6, 2010 8:58am
Quoting PippiNole
Good morning fellow traders!

How is the forex money machine treating everyone?
good morning Pippi
" When the ship starts to sink, don't just pray. JUMP "
  • #28,189
  • Jan 6, 2010 9:15am Jan 6, 2010 9:15am
I'm watching 133.4x on EJ for a possible short and definately the 133.8x area. PA will lead the way.
Just digging in the trenches like everyone else!
  • #28,190
  • Jan 6, 2010 9:16am Jan 6, 2010 9:16am
Buy EJ at 132.8x with SL around 132.6x. She might not get down to the 132.8x, but it would be the retest of the break.
Just digging in the trenches like everyone else!
  • #28,191
  • Jan 6, 2010 9:18am Jan 6, 2010 9:18am
Sell GU around 599x with SL around 601x.
Just digging in the trenches like everyone else!
  • #28,192
  • Jan 6, 2010 9:22am Jan 6, 2010 9:22am
Quoting eohater
Sell GU around 599x with SL around 601x.
Buyers on GU around 596x could send her above the h1 10.
Just digging in the trenches like everyone else!
  • #28,193
  • Jan 6, 2010 9:24am Jan 6, 2010 9:24am
Quoting 4fun
Good morning Pippi, the girls were well behaved last night except the mistress for me so I just let her do her thinghttp://cdn.forexfactory.com/images/icons/icon7.gif
I am enjoying my time with all three of the ladies.
  • #28,194
  • Jan 6, 2010 9:26am Jan 6, 2010 9:26am
Quoting eohater
Buyers on GU around 596x could send her above the h1 10.
Watch your PA on the m15 right now, we could get the entry for a nice short again around 599x with tight SL
Just digging in the trenches like everyone else!
  • #28,195
  • Jan 6, 2010 9:27am Jan 6, 2010 9:27am
How's it going everyone?

Still holding the remainder of a short from 6052

http://www.forexfactory.com/showthre...57#post3343957

I was targeting 5900/5800 but Hmmm....LOL
Ghost Rider - WWTBMD?
  • #28,196
  • Jan 6, 2010 9:29am Jan 6, 2010 9:29am
Quoting albchr
How's it going everyone?

Still holding the remainder of a short from 6052

http://www.forexfactory.com/showthre...57#post3343957

I was targeting 5900/5800 but Hmmm....LOL
Morning Chris! I'm in the same short with you, got you by a couple of pips, looking at the same area, 586x. We might get to add back on if she breaks north here. Watch our m15 200 like we had for entry for our shorts.
Just digging in the trenches like everyone else!
  • #28,197
  • Jan 6, 2010 9:31am Jan 6, 2010 9:31am
Quoting eohater
Morning Chris! I'm in the same short with you, got you by a couple of pips, looking at the same area, 586x. We might get to add back on if she breaks north here. Watch our m15 200 like we had for entry for our shorts.
Morning EO... long time bro! Yep I'm a watching it like a hawk now...LOL
Ghost Rider - WWTBMD?
  • #28,198
  • Jan 6, 2010 9:32am Jan 6, 2010 9:32am
Quoting eohater
Watch your PA on the m15 right now, we could get the entry for a nice short again around 599x with tight SL
If you took the short, SL around 6005 would be good, if she breaks north, she'll see 604x and maybe more. She might need to build value to pick up more sellers. We'll see shortly how it turns out.
Just digging in the trenches like everyone else!
  • #28,199
  • Jan 6, 2010 9:33am Jan 6, 2010 9:33am
Shorts on GU need to get back under the m15 5/10 now, or we'll continue our venture north. Don't be afraid to change your position if we don't get under.
Just digging in the trenches like everyone else!
  • #28,200
  • Jan 6, 2010 9:35am Jan 6, 2010 9:35am
Quoting iForex
Enter too early, still in RED!
Patience is key in this industry.
Likewise...

Luckily had the sl just above the 200ma so stayed in the green - followed her as far as i could but just got stopped for +46 pips.
It's a dirty job but someone's gotta do it!
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