Trade what you see NOT what you expect | Page 1438 | 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

  • #28,741
  • Jan 13, 2010 3:21am Jan 13, 2010 3:21am
Quoting Deputy Dawg
Daily trend is down and 15m is up,I think someone replied to the point the other day that more often than not the higher t/f will prevail.
Just my viewpoint but I do like how EO sees price as moving East (left to right on your screen) rather than up or down.

I agree with your comment about the higher timeframes though my take on the daily is that it's been moving East in a range of 15800 to 17000 since May last year and it's currently in an up move for the last few days.

Macc
  • #28,742
  • Jan 13, 2010 3:23am Jan 13, 2010 3:23am
Quoting davids
Nice one Macc we take out 6241 and this will be very sweet
It's 6242 for me. LOL

I really am trying to get out of this bad habit of seeing single lines of supp/res and looking more at "areas"

Macc
  • #28,743
  • Jan 13, 2010 3:29am Jan 13, 2010 3:29am
16267 is next on my list if 1624x is out of the way

Macc
  • #28,744
  • Jan 13, 2010 3:34am Jan 13, 2010 3:34am
I am not sure what daily chart you are looking at but the trend is clearly up has been for 4 days now

Quoting Deputy Dawg
Daily trend is down and 15m is up,I think someone replied to the point the other day that more often than not the higher t/f will prevail.
  • #28,745
  • Jan 13, 2010 3:43am Jan 13, 2010 3:43am
Bull eng on 30th Dec i am presuming you mean.

Yes,i suppose it is,and do you know what,I had'nt even noticed or thought about it in that way until you pointed it out.

Ultimately,no trend last forever,and new trends are formed,so who knows in the end.

Just have to go with what you see in the moment (with an eye on the past) I suppose.

I'm still at the stage of building enough confidence in the 15m ema's at this point,even though i have seen them pay out countless times and have left more pips behind by either not taking entries or closing out early than I can count.

Good luck to all with your trades.
  • #28,746
  • Jan 13, 2010 3:43am Jan 13, 2010 3:43am
Good morning everybody.
  • #28,747
  • Jan 13, 2010 3:48am Jan 13, 2010 3:48am
Good morning Mcfly, hope you are well
" When the ship starts to sink, don't just pray. JUMP "
  • #28,748
  • Jan 13, 2010 3:50am Jan 13, 2010 3:50am
Quoting davids
I am not sure what daily chart you are looking at but the trend is clearly up has been for 4 days now

Oh oh,now you've opened up a can of worms lol.

I posted a daily chart on previous page ,which clearly shows all ema's poiting down,except for 5/10.

Now if that was transferred to a 15mt/f ,there's no way in hell that you would be telling me that it was in uptrend is there.It would be classed as a pullback surely and you would be still looking to short I'm guessing.
  • #28,749
  • Jan 13, 2010 3:52am Jan 13, 2010 3:52am
Quoting Deputy Dawg
Bull eng on 30th Dec i am presuming you mean.

Yes,i suppose it is,and do you know what,I had'nt even noticed or thought about it in that way until you pointed it out.

Ultimately,no trend last forever,and new trends are formed,so who knows in the end.

Just have to go with what you see in the moment (with an eye on the past) I suppose.

I'm still at the stage of building enough confidence in the 15m ema's at this point,even though i have seen them pay out countless times and have left more pips behind by either not taking entries or closing...

No worries . We all started somewhere. Just keep up with your analysis. Just remember That fornthe trend to change on any higher time frame chart the time below has to change first. But also Like the chart we just reviewed. There are always countertrends within major trends.

keep it up and you will reap the benefits.
Good Trading To All ; Ken Lee
  • #28,750
  • Jan 13, 2010 3:55am Jan 13, 2010 3:55am
Quoting Deputy Dawg
Bull eng on 30th Dec i am presuming you mean.

Yes,i suppose it is,and do you know what,I had'nt even noticed or thought about it in that way until you pointed it out.

Ultimately,no trend last forever,and new trends are formed,so who knows in the end.

Just have to go with what you see in the moment (with an eye on the past) I suppose.

I'm still at the stage of building enough confidence in the 15m ema's at this point,even though i have seen them pay out countless times and have left more pips behind by either not taking entries or...
You're right in what you say though about seemingly conflicting timeframe directions causing hesitation or doubt. That's why this thread is great. There are some great traders on here, EO for starters of course, who generously share their viewpoints on what "they" are seeing and that can help open our eyes to the bigger picture.

Macc
  • #28,751
  • Jan 13, 2010 4:00am Jan 13, 2010 4:00am
Quoting MCFly
Good morning everybody.
Morning McFly. Morning Gladis. Morning all.

Macc
  • #28,752
  • Jan 13, 2010 4:02am Jan 13, 2010 4:02am
Good morning macc, I hope you are well
" When the ship starts to sink, don't just pray. JUMP "
  • #28,753
  • Jan 13, 2010 4:07am Jan 13, 2010 4:07am
Quoting Gladis Night
Good morning Mcfly, hope you are well
Yes everything is fine. I hope I can say the same thing at the end of the day.

Good trading
  • #28,754
  • Jan 13, 2010 4:14am Jan 13, 2010 4:14am
Quoting Gladis Night
Good morning macc, I hope you are well
All's well in my part of the world. Sad to hear things are not so good in Haiti at the moment.

Ken, perhaps not the most geographically astute thought but I'm assuming your plenty far enough away (thick end of a 1000 miles?) to not have any repercussions from the earthquake in Haiti. Hopefully the same goes for Infinity and all is ok with him.

Macc
  • #28,755
  • Jan 13, 2010 4:37am Jan 13, 2010 4:37am
Quoting AnonYmos
Done. 1 o'clock something?
My 1st trade went wrong. What did I do wrong? Thanks for teaching!
Attached Image (click to enlarge)
Click to Enlarge Name: ec 2010-01-12 15 m.gif Size: 29 KB
  • #28,756
  • Jan 13, 2010 4:40am Jan 13, 2010 4:40am
Hi anybody took the short E/J from the 62 ema??was this a valid signal?
  • #28,757
  • Jan 13, 2010 4:51am Jan 13, 2010 4:51am
Quoting AnonYmos
My 1st trade went wrong. What did I do wrong? Thanks for teaching!
Hi Anonymos.

Unfortunately I don't follow EU and so can be of no help really. My decision making process on trade entries, as well as incorporating EO's ma's and candle price action signals, looks to higher timeframe support and resistance areas (Daily and 4hr) over a period of time.

Without pulling up some EU charts and going over them a while it's hard for me to offer any viewpoint on your trade. Some of the traders on here trade EU (luckylady or 4fun I think?) so they may be able to give you their input when they're next on.

Of course, just because the trade didn't work out doesn't mean you didn't do anything wrong. Every method has winners and losers.

Macc
  • #28,758
  • Jan 13, 2010 4:59am Jan 13, 2010 4:59am
Hi Anon
I am still learning this method but I did trade this move.
What I saw was
at the start I had PPA and DBLHC so went long
at top I had PPA so was wary. then hanging man ? so exited and reversed trade. Don't know if this was right thing to do but made pips
hope that helps and look forward to a better analysis from senior traders
" When the ship starts to sink, don't just pray. JUMP "
  • #28,759
  • Jan 13, 2010 5:07am Jan 13, 2010 5:07am
Quoting AnonYmos
My 1st trade went wrong. What did I do wrong? Thanks for teaching!
Hi,I am assuming you're saying you went long somewhere on that spike marked by the blue arrow.but i can't understand why you would,perhaps you can highlight why you thought this was the candle to enter on.Also your stop was massive.I think half the point of using this method is to get a good entry with as tight a stoploss as possible,therefore reducing your risk.

if you were going to trade the euro,then the two candles highlighted with red and black arrows were the best entries in my eyes at least,hope this helps,good luck
Attached Image (click to enlarge)
Click to Enlarge Name: Spot FX EUR_USD (13-JAN-10).png Size: 24 KB
  • #28,760
  • Jan 13, 2010 5:14am Jan 13, 2010 5:14am
Quoting AnonYmos
My 1st trade went wrong. What did I do wrong? Thanks for teaching!
What gladis said The PA at the top should have alerted you that it may not go up further at the moment, as gladis said you had PPA, hangman, failing to make a higher high etc.

Another thing is, if I'm reading that chart correctly, you were up around 30 pips or so? Then you should at least have covered yourself by either taking some profit and moving your stop to breakeven when it started to look like it may not go up further, or at the very least just move your stop to breakeven, that way you at least won't lose money,
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