Trade what you see NOT what you expect | Page 1424 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

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

How do you see trading - Do you see it as a means to an end? 12 replies

how long do you expect to trade? 10 replies

Trade What You See And Not What You Hope 0 replies

Attachments: Trade what you see NOT what you expect
Exit Attachments

Trade what you see NOT what you expect

  • #28,461
  • Jan 8, 2010 7:55am Jan 8, 2010 7:55am
Quoting iForex
looks like this time, 15m 35/50ma is not working?
If you've taken the trade, keep your SL around 5970 and let price battle it out.
Just digging in the trenches like everyone else!
  • #28,462
  • Jan 8, 2010 7:57am Jan 8, 2010 7:57am
Quoting iForex
looks like this time, 15m 35/50ma is not working?
Today, I am very unlucky. trying 1/5 O'clock, it was not working, tried 15m35/50ma, it was not working.
brothers and sisters, can you give me some advise.
Dancing with Candlesticks
  • #28,463
  • Jan 8, 2010 7:57am Jan 8, 2010 7:57am
Quoting eohater
What was your best setup/trade you took?
I followed your lead but my best here was today. flat close on hr 62ma before NFP (naughty ? ) then short 1.6110 and holding
" When the ship starts to sink, don't just pray. JUMP "
  • #28,464
  • Jan 8, 2010 7:59am Jan 8, 2010 7:59am
Quoting Gladis Night
I followed your lead but my best here was today. flat close on hr 62ma before NFP (naughty ? ) then short 1.6110 and holding
Excellent!

Be sure to get some profit booked! No one ever went broke booking profit. Then let some run and target your HTF S/R and let PA tell you when to bail.
Just digging in the trenches like everyone else!
  • #28,465
  • Jan 8, 2010 7:59am Jan 8, 2010 7:59am
Quoting Shilva
what can i say?
Thanks Shilva.

It's cropped up before with my 200sma being out of whack with others on the thread (my 4h candles too) but as it's not something that comes in to play on a regular basis I don't think it has too much bearing on how I apply the method.

Macc
  • #28,466
  • Jan 8, 2010 8:06am Jan 8, 2010 8:06am
Quoting iForex
Today, I am very unlucky. trying 1/5 O'clock, it was not working, tried 15m35/50ma, it was not working.
brothers and sisters, can you give me some advise.

Post a chart showing your entries so we can analysis what your doing.

It will come ..
Good Trading To All ; Ken Lee
  • #28,467
  • Jan 8, 2010 8:16am Jan 8, 2010 8:16am
Quoting KENNETH lEE
Post a chart showing your entries so we can analysis what your doing.

It will come ..
Thanks for any suggestions
Attached Image (click to enlarge)
Click to Enlarge Name: fxo11.gif Size: 45 KB
Dancing with Candlesticks
  • #28,468
  • Jan 8, 2010 8:25am Jan 8, 2010 8:25am
Quoting iForex
Thanks for any suggestions
Think of physics if you will. First, notice how hard she shot up? She'll come down just as hard usually. Ask yourself why did it shoot up? News. Ok, so news is out of the way and price starts coming back to reality. If you notice at the top of the run, your following m15 candle was a DBHLC candle. You should have went short there after that candle closed with the momentum in mind of falling just as hard as she rose with SL on the other side of the high. Your long trade was not bad, but your SL should have been at the m15 10. Limit your loss. Then, once the h1 closed with an IB, you should have been willing to go short off of it as well. The m15 35/50 cross and reverse does not always work, keep your eyese open to the HTF and S/R there.
Just digging in the trenches like everyone else!
  • #28,469
  • Jan 8, 2010 8:28am Jan 8, 2010 8:28am
Quoting iForex
Thanks for any suggestions
i may be wrong
5 o'clock trades are short trades when approaching from below.
where you show 35/50 cross, my ma's are 248/200
" When the ship starts to sink, don't just pray. JUMP "
  • #28,470
  • Jan 8, 2010 8:31am Jan 8, 2010 8:31am
Quoting Gladis Night
i may be wrong
5 o'clock trades are short trades when approaching from below.
where you show 35/50 cross, my ma's are 248/200
The 5 and 1 o'clock trades refer to the direction the ma's are pointing. If the ma's are spread apart pointing toward the 1 o'clock hand on a clock if you will, then you want to take long positions and vice versa, if the ma's are pointing toward 5 o'clock, you want to take short positions. These positions are taken with the ma's on the m15 as your SL. For example, after the DBHLC candle closed on the m15, if you didn't get short and waited for the 1 o'clock trade, you should have taken it around the price of 6065 with SL around 6050 or whatever price of the m15 10 was at the time. These are trades that are taken with a contol on risk and should get you green within 1-3 candles, otherwise, your standing in front of a bus.
Just digging in the trenches like everyone else!
  • #28,471
  • Jan 8, 2010 8:37am Jan 8, 2010 8:37am
Quoting eohater
The 5 and 1 o'clock trades refer to the direction the ma's are pointing. If the ma's are spread apart pointing toward the 1 o'clock hand on a clock if you will, then you want to take long positions and vice versa, if the ma's are pointing toward 5 o'clock, you want to take short positions. These positions are taken with the ma's on the m15 as your SL. For example, after the DBHLC candle closed on the m15, if you didn't get short and waited for the 1 o'clock trade, you should have taken it around the price of 6065 with SL around 6050 or whatever...
Thank you for the explaination. I am still learning
" When the ship starts to sink, don't just pray. JUMP "
  • #28,472
  • Jan 8, 2010 8:38am Jan 8, 2010 8:38am
Quoting Gladis Night
Thank you for the explaination. I am still learning
We all are still learning! Don't ever stop!
Just digging in the trenches like everyone else!
  • #28,473
  • Jan 8, 2010 8:40am Jan 8, 2010 8:40am
Quoting PippiNole
Just as I would imagine seat time in an aircraft breeds familiarity so will chart time with forex. After observing these types of candles you will most likely go back through your charts with an eye for them to see how price has reacted to them in the past. They do occur quite frequently in areas of previous support or resistance. Look at the 15 min GU chart during the Asian session last night and you might spot one.
Thanks Pippi. Something to add to the bag of tricks. Unfortunately couldn't trade today but it's been a very fun week with everyone and I wish you all a great weeekend. See you next week!
Cap
  • #28,474
  • Jan 8, 2010 8:43am Jan 8, 2010 8:43am
Here is a post showing some 1 and 5 O'clock trades.This is not from today .. Ken
Attached Image (click to enlarge)
Click to Enlarge Name: 19c 1 and 5 oclock trades.JPG Size: 233 KB
Good Trading To All ; Ken Lee
  • #28,475
  • Jan 8, 2010 8:47am Jan 8, 2010 8:47am
Quoting eohater
Think of physics if you will. First, notice ...
Thanks for you very helpful explaination. I will remember this in my mind
Dancing with Candlesticks
  • #28,476
  • Jan 8, 2010 8:59am Jan 8, 2010 8:59am
Quoting KENNETH lEE
Here is a post showing some 1 and 5 O'clock trades.This is not from today .. Ken
So 1 o'clock trades ma's are showing mini uptrend and PA is above ma, trade long, away from ma ?
5 o'clock trade, ma's show mini down trend, PA below ma, trade short away from ma ?
" When the ship starts to sink, don't just pray. JUMP "
  • #28,477
  • Jan 8, 2010 9:04am Jan 8, 2010 9:04am
The temptress just grabbed back 15piparonies from me. Going to step out for some brunch with some friends not sure when this could end with this group. Have a great weekend everyone was sure a nice week in here.
  • #28,478
  • Jan 8, 2010 9:06am Jan 8, 2010 9:06am
Quoting Gladis Night
So 1 o'clock trades ma's are showing mini uptrend and PA is above ma, trade long, away from ma ?
5 o'clock trade, ma's show mini down trend, PA below ma, trade short away from ma ?
Not always a MINI. look back a page or two you will see a prevoius post of todays chart showing a 1:00 entry. I see them as secondary entries to the start of a trend big or small. Once price breaks consolidation and the MA's spread out. You can get a pullback that hits the lower ma's then continues. This happens a lot with confirmation of breakouts and retest of highs and lows as well as S/R lines.

It takes time to spot all the different possiblities . So focus on the ones you understand the best while learning to spot the others. If you took every setup in EO's system you are rarely out of a trade or you see where to manage the long term trade your in taking profits as well as adding on.

Also you see 3 entries those don't have to be 3 trades. But depending on when you start trading those are just the possiblities of entries so you don't miss the move completely.
Good Trading To All ; Ken Lee
  • #28,479
  • Jan 8, 2010 9:09am Jan 8, 2010 9:09am
Quoting KENNETH lEE
Not always a MINI. look back a page or two you will see a prevoius post of todays chart showing a 1:00 entry. I see them as secondary entries to the start of a trend big or small. Once price breaks consolidation and the MA's spread out. You can get a pullback that hits the lower ma's then continues. This happens a lot with confirmation of breakouts and retest of highs and lows as well as S/R lines.

It takes time to spot all the different possiblities . So focus on the ones you understand the best while learning to spot the others. If you took...
Thank you Ken, I think the light bulb is starting to glow now, not brightly but not off
thanks for a great week guys, have a terrific weekend
" When the ship starts to sink, don't just pray. JUMP "
  • #28,480
  • Jan 8, 2010 9:23am Jan 8, 2010 9:23am
Looks like this thread is attracting some really good women traders. Maybe I can pick up a sugar mama!
4 traders viewing now