Trade what you see NOT what you expect | Page 1415 | Forex Factory

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

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Trade what you see NOT what you expect

  • #28,281
  • Jan 6, 2010 11:20am Jan 6, 2010 11:20am
Quoting eohater
If your not short on EJ, take a look at your h1 and tell me why your not.

yep maybe the top for the Asian drift if FOMC doesn't take it out.
Good Trading To All ; Ken Lee
  • #28,282
  • Jan 6, 2010 11:31am Jan 6, 2010 11:31am
Quoting KENNETH lEE
yep maybe the top for the Asian drift if FOMC doesn't take it out.

KEN!

Long Time. How are you man?
Ghost Rider - WWTBMD?
  • #28,283
  • Jan 6, 2010 11:35am Jan 6, 2010 11:35am
Quoting albchr
KEN!

Long Time. How are you man?
I am still moving along hope your doing well.
Good Trading To All ; Ken Lee
  • #28,284
  • Jan 6, 2010 11:40am Jan 6, 2010 11:40am
Hi EO

Thnx 4 the great education...

How do you spot where the buyers and sellers are getting ready to come to the table?
It's a dirty job but someone's gotta do it!
  • #28,285
  • Jan 6, 2010 11:41am Jan 6, 2010 11:41am
Quoting KENNETH lEE
I am still moving along hope your doing well.
I am buddy.

I may have to buy one of those wheel barrels you guys use. I hear you offer them here at a discount right?.....
Ghost Rider - WWTBMD?
  • #28,286
  • Jan 6, 2010 11:48am Jan 6, 2010 11:48am
Quoting albchr
I am buddy.

I may have to buy one of those wheel barrels you guys use. I hear you offer them here at a discount right?.....
Think I might have one left laying around pretty price though 2% of gains for 3 months..
Attached Image
Good Trading To All ; Ken Lee
  • #28,287
  • Jan 6, 2010 11:53am Jan 6, 2010 11:53am
Hahaha nice.
Cap
  • #28,288
  • Jan 6, 2010 11:59am Jan 6, 2010 11:59am
Happy new Year to all on the thread
  • #28,289
  • Jan 6, 2010 11:59am Jan 6, 2010 11:59am
Quoting KENNETH lEE
Think I might have one left laying around pretty price though 2% of gains for 3 months..

SOLD!! ...
Ghost Rider - WWTBMD?
  • #28,290
  • Jan 6, 2010 12:01pm Jan 6, 2010 12:01pm
Quoting davids
Hppay new Year to all on the thread
David!

How are you sir?

Happy new year to you too. I just love seeing all you folks again...
Ghost Rider - WWTBMD?
  • #28,291
  • Jan 6, 2010 12:27pm Jan 6, 2010 12:27pm
Hi Chris

I am fine thanks how are you mate?



Quoting albchr
David!

How are you sir?

Happy new year to you too. I just love seeing all you folks again...
  • #28,292
  • Jan 6, 2010 12:28pm Jan 6, 2010 12:28pm
Anyone still with me on the GU short? Closed out the other 2 ladies but just shorted EJ again at 133.22 (last few h1 candles and the wick tops on the m15) hoping for a close below the m15 10.
Cap
  • #28,293
  • Jan 6, 2010 12:37pm Jan 6, 2010 12:37pm
Good to have you back bro


Quoting eohater
I hope somewhere in all my posts, some people made some pippage!

I've enjoyed today! Been a while since I've been able to be in the thread like this. I do miss it.
  • #28,294
  • Jan 6, 2010 12:41pm Jan 6, 2010 12:41pm
Quoting davids
Hi Chris

I am fine thanks how are you mate?
I'm doing well David. A lot more study, a few New Years rules and so far, I haven't had a losing trade this year (yet)...LOL

One BE but as we all know, in Forex, BE goes in the win column....

I know it won't last forever but it's going to be fun to see how long I can go without giving any back....
Ghost Rider - WWTBMD?
  • #28,295
  • Jan 6, 2010 12:47pm Jan 6, 2010 12:47pm
Well done mate keep it up, you are right be's are better than losses

Quoting albchr
I'm doing well David. A lot more study, a few New Years rules and so far, I haven't had a losing trade this year (yet)...LOL

One BE but as we all know, in Forex, BE goes in the win column....

I know it won't last forever but it's going to be fun to see how long I can go without giving any back....
  • #28,296
  • Jan 6, 2010 1:50pm Jan 6, 2010 1:50pm
Does everyone stop trading when EO leaves or what?
Cap
  • #28,297
  • Jan 6, 2010 1:51pm Jan 6, 2010 1:51pm
Quoting The Captain
Does everyone stop trading when EO leaves or what?
Better not!
Just digging in the trenches like everyone else!
  • #28,298
  • Jan 6, 2010 1:59pm Jan 6, 2010 1:59pm
Hi All,

Post 1, yipee :-)

I am just wanting to start getting into FOREX. I have been doing research and trying my best to understand this beast. I've spent most of my time on babypips.

I have read the PDF at the start of this thread and the PDF that is on babypips explaining the same system. There are a few fundamental things I don't understand or "get".

What I do understand (still need practice though):
- 1hr 62ema trade
- 5 o'clock somewhere bounce
- 35-50MA cross

But what I don't understand:
- Multiple lots and taking profits at different points. And knowing when to get out completely.
- Pin/Doji/Hangman reversal (this is what I want to ask about in this message)


The taking of profits is one spot that you will still ahve control over. We discuss a lot about covering trades this is for the protection of your equity. The taking of profits is a choice you will have to make. The longer you let profits grow the better. but there is a limit never let it turn against you. Your profit targets like your best entry areas are off your longer term charts. The amnagement of the trade betewwen those points. is key..

Once you get covered you then have to be careful at areas that price could change direction maybe removing some profit until price passes that area but don't forget to add it back once that area is crossed and you get a signal to add.

This will become more clear as time goes by. Just make sure you cover your trades to prevent any losses first. then work on getting the most you can by holding and managing the trade.

EO has a short from 1.7000 area thatb doesn't meaan he just entered and has let it just go back and forth . he has added to it a dn taken profit in many areas. Plus tradedd against that position in his other account. but that only comes with practice and skill. Not to be rushed.

I have done some seperate study into candlestick patterns, and it's easy tio find lots of them. But there are so many of them and I find that they don't consistently show reversals. I imagine there is some kind of confirmation you use before taking a trade, but the PDF doesn't talk about it.

Questions:
- Do you use confirmation?
- What is it?
- Is it just previous support and resistance lines (ie. if a pattern occurs on a line then the trade is confirmed)?
- Do you actually just trade the pattern.

The actual trading here is Price Action With confirmation. PPA Previous Price Action Whta has happened in this aree in the past where your S/R and other trend lines maybe. Then PA price Action which is what the price is doing here right now. Price Action is what forms the candle stick pattern we use to take na trade the signal.

So using PPA and PA . Then confirming by the formation of a candlestick pattern. Plus any other thing like a double top or bottom a dchlc, there is plenty of confirmation.

There will be times when the more exprienced take trades that you will think have no confirmation . That agian comes with skill . but they have after lots of trading Know that area to be of little risk and untio you understand that clearly better to stay away. Wait for a signal is best.

Hope this helps Ken
Good Trading To All ; Ken Lee
  • #28,299
  • Edited 5:40pm Jan 6, 2010 4:57pm | Edited 5:40pm
Quoting The Captain
Does everyone stop trading when EO leaves or what?
No and I will try to do a better job of helping out in here and talking about my trades more.It is really quite in here and we need to trade and learn together even when EO and some of the others are busy with other things.It looks like the 4 hr will be a nice pin so if it stays this way I would really be thinking short after a test of the wick so I will be back later to see what is happening and share more.
Please ask questions and share your experiences with us all!
  • #28,300
  • Edited 6:07pm Jan 6, 2010 5:56pm | Edited 6:07pm
I cant speak for everyone else but I thought this morning was the stuff synergy, energy ok how about majic is made of, was pretty special. I dont know of another place on the innernet or ?? that has the positive one for all, all for one vibe about it or I'd be there THANKS EO special stuff 4real!!! Just a FN awesome envoirment to learn and be apart of.
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