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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

  • #28,941
  • Jan 13, 2010 9:57am Jan 13, 2010 9:57am
Quoting The Captain
This short is making me nervous! Don't bail on me EO !

But the H1 looks like it may help us.
Looks like it will play out now.
  • #28,942
  • Jan 13, 2010 10:13am Jan 13, 2010 10:13am
Quoting albchr
Ummm...why?

My reason to short was the dollar bounce off support and the pound starting to fall.

my brother.. where can i find Dollar index Chart ??

i am using MT4 FXDD
Never sell @ lower upward channel unless breacked and vise versa .
  • #28,943
  • Jan 13, 2010 10:14am Jan 13, 2010 10:14am
Quoting albchr
OK, taking a shot at the Mrs. Short 6283 with a 30 SL
good short. i was short from 295 however i closed at 277. this may take a while to play out though..just my two cents...maybe only 1.5 cents coming from me.
  • #28,944
  • Jan 13, 2010 10:22am Jan 13, 2010 10:22am
Quoting dakrusha
good short. i was short from 295 however i closed at 277. this may take a while to play out though..just my two cents...maybe only 1.5 cents coming from me.
my short in 293 out 277 But she's going down further.
  • #28,945
  • Jan 13, 2010 10:25am Jan 13, 2010 10:25am
Quoting WedWed
my brother.. where can i find Dollar index Chart ??

i am using MT4 FXDD
I use SIGTrader 4 for the USD, YEN, GBP & EUR indexes. But remember it's just another tool in the box. I don't trade off them. I just look for some additional confluence to add to EO'S method and a few others I've studied.

I've finally come to understand that it's the combination of ALL these things that gives me a "possible" edge.

When I grow up to be like EO, I'm sure I'll use "mostly" this method.

EDIT: One thing. on the yen it's inverse meaning that when it goes UP on the chart, the yen is getting weaker. Go figure...LOL
Ghost Rider - WWTBMD?
  • #28,946
  • Jan 13, 2010 10:30am Jan 13, 2010 10:30am
Quoting dakrusha
good short. i was short from 295 however i closed at 277. this may take a while to play out though..just my two cents...maybe only 1.5 cents coming from me.
Agreed!

I'm actually hoping this will be a "longer" term trade (few days maybe?). I only hope my SL is good enough.
Ghost Rider - WWTBMD?
  • #28,947
  • Jan 13, 2010 10:37am Jan 13, 2010 10:37am
Quoting albchr
Agreed!

I'm actually hoping this will be a "longer" term trade (few days maybe?). I only hope my SL is good enough.
I'm thinking the exact same about the long term. Maybe the master can give his thoughts on this.
Cap
  • #28,948
  • Jan 13, 2010 10:39am Jan 13, 2010 10:39am
Maybe we get a right shoulder on the 15 min
  • #28,949
  • Jan 13, 2010 10:43am Jan 13, 2010 10:43am
Quoting albchr
Agreed!

I'm actually hoping this will be a "longer" term trade (few days maybe?). I only hope my SL is good enough.
i'm seein a great opp on the 1H for bout 40 pips to return to the 20 EMA. just a thought
  • #28,950
  • Jan 13, 2010 10:47am Jan 13, 2010 10:47am
Quoting dakrusha
i'm seein a great opp on the 1H for bout 40 pips to return to the 20 EMA. just a thought
Yeah and that's about 4 pips under good daily S/R at 6240. I wouldn't mind seeing that happen soon....
Ghost Rider - WWTBMD?
  • #28,951
  • Jan 13, 2010 11:04am Jan 13, 2010 11:04am
Quoting The Captain
I'm thinking the exact same about the long term. Maybe the master can give his thoughts on this.
The short in play is being played off the h4 candles, so yes, this is a trade that will take time to develop completely. I have booked some profit on the trade, however, my SL is stil lin tact as the original. I will evaluate the SL and trade more as we get closer to the h4's closing in the next hour and 2 hours since we have 2 working h4's that close at different times.
Just digging in the trenches like everyone else!
  • #28,952
  • Jan 13, 2010 11:22am Jan 13, 2010 11:22am
are we there yet?
Ghost Rider - WWTBMD?
  • #28,953
  • Jan 13, 2010 11:25am Jan 13, 2010 11:25am
Quoting ejiexe
Surprise! I long @ the price where you short on Mrs. same as 1hr trade EO took yesterday.
I don't understand why you went long at the 6283 price when you did. Looking back, you've not been green too much. Your position is middle of the road and price is fighting for a side right now.
Just digging in the trenches like everyone else!
  • #28,954
  • Jan 13, 2010 11:25am Jan 13, 2010 11:25am
Quoting albchr
are we there yet?
No kidding. I'm looking at it like she is just stalling gaining momentum.. The longer she goes sideways the harder she falls?
Cap
  • #28,955
  • Jan 13, 2010 11:26am Jan 13, 2010 11:26am
Quoting The Captain
No kidding. I'm looking at it like she is just stalling gaining momentum.. The longer she goes sideways the harder she falls?
Breathe!
Just digging in the trenches like everyone else!
  • #28,956
  • Jan 13, 2010 11:28am Jan 13, 2010 11:28am
Quoting The Captain
No kidding. I'm looking at it like she is just stalling gaining momentum.. The longer she goes sideways the harder she falls?
in my exp not necessarily. the longer she shows support above x65 she may infact jump quite hard before she drops like a stone.

protect your profits and be careful people
  • #28,957
  • Jan 13, 2010 11:29am Jan 13, 2010 11:29am
Quoting eohater
Breathe!
I knew I was forgetting something!
Cap
  • #28,958
  • Jan 13, 2010 11:31am Jan 13, 2010 11:31am
Quoting The Captain
No kidding. I'm looking at it like she is just stalling gaining momentum.. The longer she goes sideways the harder she falls?
DT (I admire him MUCH) had a great little explanation here....

http://www.forexfactory.com/showpost...postcount=2854

We're all waiting on the same thing me thinks.

EDIT: Whoops...although that was OK it was the wrong link...LOL

http://www.forexfactory.com/showpost...postcount=2850

Maybe it's just because I like fishing...LOL

OK, Up at 1:00am...yep...I'm getting a bit run down now.
Ghost Rider - WWTBMD?
  • #28,959
  • Jan 13, 2010 11:33am Jan 13, 2010 11:33am
Quoting eohater
I don't understand why you went long at the 6283 price when you did. Looking back, you've not been green too much. Your position is middle of the road and price is fighting for a side right now.
Thanks EO. I will apprecate if you can correct me. I went long becos 1 hr failed to close below 10 MA on 1hr and there was a bullish candle formation immediately after that candle. It has also broken 1.6274 which now acting as a support.
THE DIFFERENCE BETWEEN GOOD AND EXCELLENT IS ATTENTION TO DETAILS.
  • #28,960
  • Jan 13, 2010 11:45am Jan 13, 2010 11:45am
Quoting ejiexe
Thanks EO. I will apprecate if you can correct me. I went long becos 1 hr failed to close below 10 MA on 1hr and there was a bullish candle formation immediately after that candle. It has also broken 1.6274 which now acting as a support.
I think I can help you out. If you look at your H4 there was a very bearish candle that closed - the hanging man. Also the H1 candle the closed around that time was a shooting star - also bearish. There are alot of good candlestick pattern websites.. I recommend the school at babypips.com
Cap
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