Trade what you see NOT what you expect | Page 1427 | 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

  • #28,521
  • Jan 10, 2010 1:35pm Jan 10, 2010 1:35pm
Quoting VonTrader
I find ridiculous that you are talking about pips. The pips amount are useless, what count is the %.



so the edge comes from PA? interesting...


Don't take me wrong guys and girls, I agree that we need to trade what we see but also what we expect, because if we don't expect anything then probably it's called gambling.
And I agree that the market is random but sometimes the market have a bias!
For instance I take my edge from my analysis and I expect a scenario, but if it's not working as planed then I take action based...

I understand what you are saying, and i partially agree in that i see something and therefore i am expecting a specific result. I try to stay limber that way since i trade on a 5M TF and what i see can turn wrong quickly.

As for pips over %....i don't agree. Everybody needs to trade within their comfort level. If i have a 5K account but can only comfortable trade single mini's then percentage growth matters not. It will look negligible, however looking at it from a pip count will most likely boost my confidence and hopefully push me to a level where i can trade where a single trade significantly affects my % without being concerned about pip count.

Peace
dak
  • #28,522
  • Jan 10, 2010 1:51pm Jan 10, 2010 1:51pm
Quoting dakrusha
I understand what you are saying, and i partially agree in that i see something and therefore i am expecting a specific result. I try to stay limber that way since i trade on a 5M TF and what i see can turn wrong quickly.

As for pips over %....i don't agree. Everybody needs to trade within their comfort level. If i have a 5K account but can only comfortable trade single mini's then percentage growth matters not. It will look negligible, however looking at it from a pip count will most likely boost my confidence and hopefully push me to a level...
nice said.....
  • #28,523
  • Jan 10, 2010 2:54pm Jan 10, 2010 2:54pm
Quoting VonTrader
I find ridiculous that you are talking about pips. The pips amount are useless, what count is the %.

...


Have a wonderful week!
For me the pip amount is very important...

Every trade that I take will be 1% of account (money management), so the pips will slowly add up to a consistantly growing %.
It's a dirty job but someone's gotta do it!
  • #28,524
  • Jan 10, 2010 3:13pm Jan 10, 2010 3:13pm
Tomorrow I'm back at work (day job) after having last week off...

I watched this thread unravel last Wed and Thur and it was nice to see how various people were taking the trades (the seniors, the trainee seniors and the juniors) but the most impressive stuff was the general willingness to help and provide the 'learning experience'.

I'll try to follow this thread more closely (time permitting) and will definetely extract ideas from here as the h15 time frame will be difficult unless I take in the asia open session or ideally the London open session.

So for all those using this system, hope you guys continue to learn and kick it!

Thanks!
It's a dirty job but someone's gotta do it!
  • #28,525
  • Jan 10, 2010 7:45pm Jan 10, 2010 7:45pm
Wow how about those Arizona Cardinals!!

Will watch this area from the 15m chart for pa the 200 is up another level.
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  • #28,526
  • Jan 10, 2010 9:13pm Jan 10, 2010 9:13pm
Quoting 4fun
Wow how about those Arizona Cardinals!!

Will watch this area from the 15m chart for pa the 200 is up another level.

Fun games to watch (forex and the AZ Cards).

Dr. D. (living in sunny AZ)
  • #28,527
  • Jan 11, 2010 2:36am Jan 11, 2010 2:36am
Hi Cisco

You are talking 40% per week

How many trades are you doing for that ?? and what size lots

10k account Trade for a couple of years compounding on the way

What are we saying rock start of the investment world

Adios Bill Gates Hello cisco
  • #28,528
  • Jan 11, 2010 3:10am Jan 11, 2010 3:10am
Quoting frenz
Hi Cisco

You are talking 40% per week

How many trades are you doing for that ?? and what size lots

10k account Trade for a couple of years compounding on the way

What are we saying rock start of the investment world

Adios Bill Gates Hello cisco
40% isn't unusual in this thread, and we all know that taking a $10,000 account and compounding it for 2 years isn't likely. It is more likely that once an account has reached a certain level people either take their risk down or make a good living from it, meaning they take funds out, in which case you're still not compounding.

At only 2% risk per trade (and some trade 3 or 4%) with a 25 pip average stop loss you would need only 500 pips per week to get a 40% return.
  • #28,529
  • Jan 11, 2010 3:24am Jan 11, 2010 3:24am
Theorys good but I imagine even in this thread there are a few people that cant quite maintain the dicipline

either way its a good dream and its why most of us are trading forex
  • #28,530
  • Jan 11, 2010 3:58am Jan 11, 2010 3:58am
I'm a strong believer of the theory that you are only restricted by what you think you can do.
  • #28,531
  • Jan 11, 2010 4:13am Jan 11, 2010 4:13am
Hello,

I have a question regarding my E/J trade arround 9 am gmt. I entered long after the price broke and retested the resistance area at 134,00. The next candle after my entry candle went above last week's high and closed below it as a pin. I closed the trade with +2. Needless to say that the price moved up after I exit the trade. Was it a wrong decision or was it only a bit unlucky?
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  • #28,532
  • Jan 11, 2010 4:56am Jan 11, 2010 4:56am
E/j approaching a point of intrest at 134.50

E/u I have a line at 1.4526 from that line chart i posted not likeing that its spending this much time here. Some bearish divergence is showing up
  • #28,533
  • Jan 11, 2010 5:18am Jan 11, 2010 5:18am
Hey McFly was looking at your chart, seems it was still making higher highs didnt get a close below the 5ema you made pips thats good seems it just needed a bit more breathing room this is a good one for Ken I am still sleep walking.
  • #28,534
  • Jan 11, 2010 5:33am Jan 11, 2010 5:33am
Quoting fourxtrader
Fun games to watch (forex and the AZ Cards).

Dr. D. (living in sunny AZ)

Hi neighbor, great game boy I am feeling it this morning couldnt wind down after that one. See what cardinal team shows up next week against the saints??
  • #28,535
  • Jan 11, 2010 6:25am Jan 11, 2010 6:25am
Quoting frenz
Hi Cisco

You are talking 40% per week

How many trades are you doing for that ?? and what size lots

10k account Trade for a couple of years compounding on the way

What are we saying rock start of the investment world

Adios Bill Gates Hello cisco
Account size has nothing to do with percentages.

As luckylady said, once my personal account got to a good size I started taking money out each week. I did it because I don't trust brokers to stay in business forever. They can and do go under occasionally and when they do they take your money down with them.

Other traders in here don't do that. They don't worry about the broker going under. I guess I'm just a worry wart, I don't trust them.
Hi, my name is Barry and you can keep your doctor...
  • #28,536
  • Jan 11, 2010 6:29am Jan 11, 2010 6:29am
Quoting MCFly
Hello,

I have a question regarding my E/J trade arround 9 am gmt. I entered long after the price broke and retested the resistance area at 134,00. The next candle after my entry candle went above last week's high and closed below it as a pin. I closed the trade with +2. Needless to say that the price moved up after I exit the trade. Was it a wrong decision or was it only a bit unlucky?

Probably over analysised but here you go.
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Good Trading To All ; Ken Lee
  • #28,537
  • Jan 11, 2010 6:36am Jan 11, 2010 6:36am
Good MAE Everyone
Ghost Rider - WWTBMD?
  • #28,538
  • Jan 11, 2010 6:41am Jan 11, 2010 6:41am
Quoting albchr
Good MAE Everyone
Good morning Chris
  • #28,539
  • Jan 11, 2010 6:43am Jan 11, 2010 6:43am
Quoting luckylady
I'm a strong believer of the theory that you are only restricted by what you think you can do.


I couldn't agree more ...
Ghost Rider - WWTBMD?
  • #28,540
  • Jan 11, 2010 6:46am Jan 11, 2010 6:46am
Quoting MCFly
Hello,

I have a question regarding my E/J trade arround 9 am gmt. I entered long after the price broke and retested the resistance area at 134,00. The next candle after my entry candle went above last week's high and closed below it as a pin. I closed the trade with +2. Needless to say that the price moved up after I exit the trade. Was it a wrong decision or was it only a bit unlucky?

One other thing there is never ever anything wrong with closing with a little bit of profit if your unsure of a trade. Any gain verses a loss is a good thing. As EO siad last week. "NO one ever went broke taking profits "

So don't strees about and "where's that bus?"
Good Trading To All ; Ken Lee
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