Trade what you see NOT what you expect | Page 1548 | 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

  • #30,941
  • Feb 3, 2010 8:57am Feb 3, 2010 8:57am
Quoting eohater
That's correct! Now, you've pointed out the HUGE SL of 65 pips, I didn't even have that big of one's trading HTF, so I began tweeking the system, adding ma's, understanding my PA. On your above example, buyers would pound her around the price of 5970-5975 and send her back up. From here, there are multiple ways to play the move. If price clears the 35 pip price, let it come back and take an entry short off the ma's on the m15.

Actually that is happening right now on GBPUSD... from the last m15 35MA... but looking at the H1 Chart seems bulls are coming again... for a retest of the 62 MA (in 1 hour chart) and the 50 MA (15m) ... which coincide with yesterday's high.

Are those the kind of HTF analysis that we (newie) should do??
I don't want a job, i want money!
  • #30,942
  • Feb 3, 2010 9:14am Feb 3, 2010 9:14am
Quoting dario1002
Actually that is happening right now on GBPUSD... from the last m15 35MA... but looking at the H1 Chart seems bulls are coming again... for a retest of the 62 MA (in 1 hour chart) and the 50 MA (15m) ... which coincide with yesterday's high.

Are those the kind of HTF analysis that we (newie) should do??
Yes, with our last h1 close, it gave us a dblhc which supports the longs. If you narrow down on your h1, you'll see why price halted where it did.
Just digging in the trenches like everyone else!
  • #30,943
  • Feb 3, 2010 9:19am Feb 3, 2010 9:19am
Quoting MCFly
Hi macc,

I have a question regarding your last post. Do you trade only when the price bounces from/breaking a HTF s&r?
Hi McFly.

That's my preferred area of entry but as well as the traditional HTF s/r (horizontal areas drawn off the daily/4h charts) I treat the 200sma (on all TFs) like floating HTF s/r and the 35/50 ma's on the 15m get my attention for possible trades (away from the ma's)

As mentioned in my post, the +/- 35 pip range either side of the 15m 35sma also gets my attention for trades back to the ma's.

The 1h 62ma bounce trade and the 35/50 cross and reverse are also trades I consider.

I always prefer 15m pa confirmation before I enter a trade, although I will consider a touch trade on the 1h 62ma or occasionally the 200sma depending on how things look at the time.

Whichever side of the 15m 35/50 price is on I consider her to be continuing in that direction until one of the above areas comes into view. I don't play all the counter-trend bounces off HTF s/r but if I do, I try to cover as quickly as possible.

Macc
  • #30,944
  • Feb 3, 2010 9:19am Feb 3, 2010 9:19am
Quoting eohater
Yes, with our last h1 close, it gave us a dblhc which supports the longs. If you narrow down on your h1, you'll see why price halted where it did.
But I see a s&r zone at 5980-5965 on the 1 hr chart.
  • #30,945
  • Feb 3, 2010 9:20am Feb 3, 2010 9:20am
Quoting eohater
Yes, with our last h1 close, it gave us a dblhc which supports the longs. If you narrow down on your h1, you'll see why price halted where it did.
around 35 pips lower than the 50 MA ????
I don't want a job, i want money!
  • #30,946
  • Feb 3, 2010 9:24am Feb 3, 2010 9:24am
Watch for buyers at 5945
Just digging in the trenches like everyone else!
  • #30,947
  • Feb 3, 2010 9:31am Feb 3, 2010 9:31am
Quoting macc
Hi McFly.

That's my preferred area of entry but as well as the traditional HTF s/r (horizontal areas drawn off the daily/4h charts) I treat the 200sma (on all TFs) like floating HTF s/r and the 35/50 ma's on the 15m get my attention for possible trades (away from the ma's)

As mentioned in my post, the +/- 35 pip range either side of the 15m 35sma also gets my attention for trades back to the ma's.

The 1h 62ma bounce trade and the 35/50 cross and reverse are also trades I consider.

I always prefer 15m pa confirmation before I enter a trade, although...
Thx for your answer macc.
  • #30,948
  • Feb 3, 2010 9:33am Feb 3, 2010 9:33am
The best days are always the ones where I can't trade! The forex gods hate me.
Cap
  • #30,949
  • Feb 3, 2010 9:35am Feb 3, 2010 9:35am
Quoting The Captain
The best days are always the ones where I can't trade! The forex gods hate me.
good MAE Captain
" When the ship starts to sink, don't just pray. JUMP "
  • #30,950
  • Feb 3, 2010 9:40am Feb 3, 2010 9:40am
Quoting Gladis Night
good MAE Captain
Morning babe.
Cap
  • #30,951
  • Feb 3, 2010 9:52am Feb 3, 2010 9:52am
Quoting The Captain
The best days are always the ones where I can't trade! The forex gods hate me.
I don't think they hate you, they just fear your potential
" When the ship starts to sink, don't just pray. JUMP "
  • #30,952
  • Feb 3, 2010 9:52am Feb 3, 2010 9:52am
Somebody please tell me..what is the prefered stop loss on a 62 ema trade???
Is it also same as 35/50 trades ..35 pips SL??Thanks
  • #30,953
  • Feb 3, 2010 10:37am Feb 3, 2010 10:37am
Quoting p1p
Somebody please tell me..what is the prefered stop loss on a 62 ema trade???
Is it also same as 35/50 trades ..35 pips SL??Thanks
Hi p1p.

I don't think there is a preferred stop loss for the 62 ema trade.

Although EO mentions (or suggests) stop losses for certain trades I see it as good practice to assess each trade on it's own (and your own) merits.
If you've got certain risk rules where you never risk more than a certain percentage of your account per trade, then calculate your stop from that.

The 62 ema trade has a certain way to be traded (as outlined in the PDF document) and each 62 trade is unique. Equally, some work and some don't. For the ones that don't work out then your stop just needs to do its job and prevent losses that would be harmful to your account.

I guess that doesn't really help but in my opinion trades such as the 35/50 cross/reverse and 62ema bounce require the same general rules you would apply for other trades using this method, whatever those stop loss rules are to fit your circumstances.

Macc
  • #30,954
  • Feb 3, 2010 10:54am Feb 3, 2010 10:54am
Buyers have shown some strong interest i the 591x area. I'm down to only 2 shorts left from 6060 and I have a new long position northbound at 5918
Just digging in the trenches like everyone else!
  • #30,955
  • Feb 3, 2010 11:06am Feb 3, 2010 11:06am
Good Morning Everyone, I hope you all had a Successful trading morning. I was hoping if someone could give their comments/opinion/concerns on my trade and trade analysis on the GU I took today.

http://img502.imageshack.us/img502/1239/gutrade.gif

My trade was based on the M15 and H1. Price reached upto a resistence line on my chart as well as the H4 50MA. We had a bearish engulfing bar and during that time i switched over to M15 for a possible short PA. Circle A represents the bearish bar which closed below the 5/10MAs which is where I went short on the next candle. My TP was set at the lower support line which is in black. Circle B represents a close and retest of the 35/50MAs. This is where i opened my second position and targeted the same support as the first and moved the SL to break even on the first trade and let the trades do the rest. Both Closed in full profit.

-Ahsan
  • #30,956
  • Feb 3, 2010 11:15am Feb 3, 2010 11:15am
Quoting eohater
Buyers have shown some strong interest i the 591x area. I'm down to only 2 shorts left from 6060 and I have a new long position northbound at 5918

NIce Bro I closed my shorts for 89 and 75 earlier I have a long at 5974 under water and a new long from 5919
  • #30,957
  • Feb 3, 2010 11:47am Feb 3, 2010 11:47am
Quoting davids
NIce Bro I closed my shorts for 89 and 75 earlier I have a long at 5974 under water and a new long from 5919
Here is that retest of the low of last weeks range i was talking about yesterday. If cable closes below the centerline, (5950), it may honor this channel and head toward 5700.

Like to get in on NY session low and then asian high is my plan..... if it works that way.
Attached Image (click to enlarge)
Click to Enlarge Name: feb310.jpg Size: 133 KB
  • #30,958
  • Feb 3, 2010 11:51am Feb 3, 2010 11:51am
Quoting Gladis Night
I don't think they hate you, they just fear your potential
You're probably right Gladis. Just like women fear my extreme good looks.
Cap
  • #30,959
  • Feb 3, 2010 1:03pm Feb 3, 2010 1:03pm
You guys still in your long from 591x? I jumped in on the last pinbar.
Cap
  • #30,960
  • Feb 3, 2010 1:19pm Feb 3, 2010 1:19pm
Quoting The Captain
You guys still in your long from 591x? I jumped in on the last pinbar.
i'm long at 5908 and 5914 ....not loving it either for some reason
71 traders viewing now