Trade what you see NOT what you expect | Page 1502 | 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

  • #30,021
  • Jan 22, 2010 2:59am Jan 22, 2010 2:59am
Quoting PippiNole
For those that want a little excercise in chart analysis I want you to look at the Mistress 4hr, 1hr and 15 min charts during the Asian session from last night and tell me where I went long and why. This is to get you to correlate what you see on the HTF down to the 15 min chart.
on 4h we have pin at 8 pm (gmt),
so we would be looking to go long down the wick on the next candle.

15min we have a flat 3.30 am candle followed by inverted hammer, so here would be long entry at 126.8x

i see nothing on 1h
  • #30,022
  • Jan 22, 2010 3:44am Jan 22, 2010 3:44am
Quoting PippiNole
For those that want a little excercise in chart analysis I want you to look at the Mistress 4hr, 1hr and 15 min charts during the Asian session from last night and tell me where I went long and why. This is to get you to correlate what you see on the HTF down to the 15 min chart.
15 min pin at 126.54 support

The 15 min I see a flat bottom candle at 3.30gmt followed with a inverted hammer
good entry place?

plus pin 15 min and pin 1hr

the 4hr candle after the pin failed to close lower
  • #30,023
  • Jan 22, 2010 3:45am Jan 22, 2010 3:45am
Quoting Attraction
on 4h we have pin at 8 pm (gmt),
so we would be looking to go long down the wick on the next candle.

15min we have a flat 3.30 am candle followed by inverted hammer, so here would be long entry at 126.8x

i see nothing on 1h
I guess you were the only one who wanted to give a stab at it.

Good analysis by the way.

My first long was from the 15 min hammer. Price pushed up for about 70 pips. I realized that this created the 4hr and 1hr wick. What to do? I shorted down the wick. Where did price turn going down the 4hr wick? Right at the low close of the 15 min hammer. Time to go long again and I was filled at 126.81. This was the 1st candle that ended up being the 15 min tweezers. Price pushed up about 40 pips before I went to bed. I booked my 40 and kept my stop just below the tweezers. If I had stayed up later the inverted hammer area that you mentioned would have been an area I would have added back on to my long.

Hope this helps to see the correlation in seeing the trades a little clearer!
  • #30,024
  • Jan 22, 2010 3:47am Jan 22, 2010 3:47am
Morning all

My contribution to the question.. Yes the 4hr shows a pin through S/r at 127.

Looking to trade from down the wick on smaller TF's. For the 1hr and 15 min, I think it's easier to show the charts:
Attached Image(s) (click to enlarge)
Click to Enlarge Name: ej1hr.gif Size: 16 KB
Click to Enlarge Name: ej15min.gif Size: 27 KB
There is no top. There are always further heights to reach. Jascha Heifetz
  • #30,025
  • Jan 22, 2010 3:51am Jan 22, 2010 3:51am
Great examples Pippi!
There is no top. There are always further heights to reach. Jascha Heifetz
  • #30,026
  • Jan 22, 2010 3:54am Jan 22, 2010 3:54am
Quoting PippiNole
I guess you were the only one who wanted to give a stab at it.

Good analysis by the way.

My first long was from the 15 min hammer. Price pushed up for about 70 pips. I realized that this created the 4hr and 1hr wick. What to do? I shorted down the wick. Where did price turn going down the 4hr wick? Right at the low close of the 15 min hammer. Time to go long again and I was filled at 126.81. This was the 1st candle that ended up being the 15 min tweezers. Price pushed up about 40 pips before I went to bed. I booked my 40 and kept my stop just...

I just posted after your reply pippi I am a new student to the class
  • #30,027
  • Jan 22, 2010 4:00am Jan 22, 2010 4:00am
Time to go back to bed. I hope everyone took the short on GU from the 1hr 200 area. Cya in a few hours!
  • #30,028
  • Jan 22, 2010 4:16am Jan 22, 2010 4:16am
Quoting eohater
Welcome to the thread Dario! BE does mean Break Even. As to when we set out SL to BE is one's personal choice. I myself, will usually get my SL to BE after 30m or 2 m15 candles since my entry and manage the move from there. Don't get me wrong, there are times I'll set it to BE within 15m. It's all based upon how price is reacting to the PA and the ma's. I wish I could give you a better explaination, but it's an art and one's own personal risk appetite.

Trade well!
EO
Hi EO....
First of all... thanks for the answer.
Just i am not sure i got u right... are u telling me that u just close your trade after a certain timeframe, and not when the chart hit a precise position??
And, if i may ask again. As a beginner... i am a VERY CAREFUL trader, which in other words means that sometimes i just move my SL right on my entry place as soon as i can and... as a result, i go out with 0 pips and in the next 30 mins ... well... i would have gained some good pips. I just would hate to see +20 pips, and then risk to go out at -10. Well.. it's a risky job anyway, the question is... do u guys ever move your SL at your entry point? and, in case, how long do u wait before doing it?

Thanks again

Hope i'm not bothering u, but on the other side, when i will have more experience, i will take the burden to explain to newie

Dario
I don't want a job, i want money!
  • #30,029
  • Jan 22, 2010 4:17am Jan 22, 2010 4:17am
Quoting PippiNole
Time to go back to bed. I hope everyone took the short on GU from the 1hr 200 area. Cya in a few hours!
Thanks for the insight on your trades Pippi.
Have a good rest!
  • #30,030
  • Jan 22, 2010 4:41am Jan 22, 2010 4:41am
Quoting dario1002
Hi EO....
First of all... thanks for the answer.
Just i am not sure i got u right... are u telling me that u just close your trade after a certain timeframe, and not when the chart hit a precise position??
And, if i may ask again. As a beginner... i am a VERY CAREFUL trader, which in other words means that sometimes i just move my SL right on my entry place as soon as i can and... as a result, i go out with...
Hell Dario, EO doesn't say anywhere in his post about closing trades. He talks about moving his SL to breakeven, just as you asked him. Have you read the pdf's you can find in the first post, because in there, there are some very good examples of managing your trades.
  • #30,031
  • Jan 22, 2010 4:53am Jan 22, 2010 4:53am
have a good weekend everybody!
  • #30,032
  • Jan 22, 2010 5:04am Jan 22, 2010 5:04am
Quoting Snowmeizer
have a good weekend everybody!
have a good one yourself Snow
" When the ship starts to sink, don't just pray. JUMP "
  • #30,033
  • Jan 22, 2010 5:12am Jan 22, 2010 5:12am
Quoting Snowmeizer
have a good weekend everybody!
You too Snow. Don't forget to
  • #30,034
  • Jan 22, 2010 6:05am Jan 22, 2010 6:05am
Thank GOD first.

FOLLOW BY EO
FOLLOW BY KEN
FOLLOW BY CAPTAIN

This are the people are really BOW my head for!

This method is so good but if you don't understand it, it is DEADLY. The last chart posted by Captain and EO has made a great change in me. I don't know of theres but I am sure I may speak the mind of some people. Once I am through, I will make some contributions which I hope is going to help someone. There is nothing in saying I short EJ from here, I long mrs from there and so on. The most important is to explain how you did it if you want to share your knowledge, otherwise, there is no point in telling us this and that bcos this is what is really the issue that confuse beginner who is really kin to follow you guys.

The chart EO posted yesterday is a GOLD. I advice new and old members to print and past beside to refer to all the time. He explained why he took his trade and what he saw that made him exit the trade well enough for people to understand. This is what had changed my knowledge about this system entirely. Even if you know the RHYTHM of the market and you could not get a great entry like EO, you will be frustrated.

I used the chart to enter GU on the approach of 50 SMA and switch to 15 min for entry. Same for EJ.

Captain I appreciate you too for your complete insight to the way you see the trade that you also share with us.

I advice others who had really understand the system to share there trade HOW rather than I long, I short, I cry, I laugh etc. There is no doubt that alot are lossing money from this system while alot are really making pips from it.

I had join the group of those who will be making pips from this system in the Mighty name of GOD
THE DIFFERENCE BETWEEN GOOD AND EXCELLENT IS ATTENTION TO DETAILS.
  • #30,035
  • Jan 22, 2010 6:09am Jan 22, 2010 6:09am
Trying a long on EJ at 127.10, flat candle on my 15m, 1hr and 4hr which just closed, also support at 127.19 tight stop.
  • #30,036
  • Jan 22, 2010 6:11am Jan 22, 2010 6:11am
Quoting luckylady
Trying a long on EJ at 127.10, flat candle on my 15m, 1hr and 4hr which just closed, also support at 127.19 tight stop.
Took some off at +20 and stop moved to breakeven.
  • #30,037
  • Jan 22, 2010 6:19am Jan 22, 2010 6:19am
Quoting Gladis Night
some one needs to chaparon LL
To have a chaperone would imply a social setting. Knowing Pippi and EO I have no doubt they'll both get right down to business!
Hi, my name is Barry and you can keep your doctor...
  • #30,038
  • Jan 22, 2010 6:22am Jan 22, 2010 6:22am
Quoting luckylady
Took some off at +20 and stop moved to breakeven.
Took some more off when it struggled at the 1hr 10ema, rest will do what it does
  • #30,039
  • Jan 22, 2010 6:52am Jan 22, 2010 6:52am
Hello everyone
  • #30,040
  • Jan 22, 2010 6:56am Jan 22, 2010 6:56am
Quoting luckylady
Took some more off when it struggled at the 1hr 10ema, rest will do what it does
Nice luckylady i didn't take this one,but i just close 3 position on dragon +15 + 160 +180, also close one position on GU +115.

Nice Friday
Trade with the momentum
21 traders viewing now