Trade what you see NOT what you expect | Page 1608 | Forex Factory

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Trade what you see NOT what you expect

  • #32,141
  • Feb 26, 2010 6:41am Feb 26, 2010 6:41am
Quoting kc0793
what a slow day!! friday + month end, so kind of expected. I got in a bit too early in e/u for the trendline bounce, i wish my SL was a few more pips
Hi,

I have a very good day with G/U. This is the reason why I monitor 2 pairs. When one pair won't move I take the other pair which shows better PA.
  • #32,142
  • Feb 26, 2010 6:48am Feb 26, 2010 6:48am
Quoting MCFly
Hi,

I have a very good day with G/U. This is the reason why I monitor 2 pairs. When one pair won't move I take the other pair which shows better PA.
McFly, what was your trade, and on what basis, if you don't mind?
  • #32,143
  • Feb 26, 2010 7:19am Feb 26, 2010 7:19am
Hellloooo all - just got 10 pips ha that'll teach em. I am suffering from "paralasys by over analysis" anyone got a cure?
Sleeping boys catch no fish
  • #32,144
  • Feb 26, 2010 7:19am Feb 26, 2010 7:19am
Good morning everyone!!
Please ask questions and share your experiences with us all!
  • #32,145
  • Feb 26, 2010 7:23am Feb 26, 2010 7:23am
Good morning bkg and wm. i hope you are both well today
" When the ship starts to sink, don't just pray. JUMP "
  • #32,146
  • Feb 26, 2010 7:25am Feb 26, 2010 7:25am
Quoting Gladis Night
Good morning bkg and wm. i hope you are both well today
Great and I hope you are also!!
Please ask questions and share your experiences with us all!
  • #32,147
  • Feb 26, 2010 7:25am Feb 26, 2010 7:25am
Quoting wmloto
Hellloooo all - just got 10 pips ha that'll teach em. I am suffering from "paralasys by over analysis" anyone got a cure?
Hi, I'll tell you what I did, maybe it will be helpful for you. When starting off initially, I traded on my real account a few completely mechanical systems, with very well defined rules. I kept my discretionary trading (like this method) to demo account. The mechanical trades were profitable, but obviously not as much as a good PA based method is. As and when you get into the groove of trading a discretionary method, only then u move it from demo to real.
  • #32,148
  • Feb 26, 2010 7:26am Feb 26, 2010 7:26am
Quoting wmloto
Hellloooo all - just got 10 pips ha that'll teach em. I am suffering from "paralasys by over analysis" anyone got a cure?
Hi WM
are you trading just this method ? or are you looking at other stuff as well ?
" When the ship starts to sink, don't just pray. JUMP "
  • #32,149
  • Feb 26, 2010 7:26am Feb 26, 2010 7:26am
Quoting kc0793
McFly, what was your trade, and on what basis, if you don't mind?
I hope this helps. Some trades are a bit more risky than other. Short always at the beginning of the candle which follows the cycled candle.

PPA - Previous Price Action
BEOB - Bearish outside bar

Attached 15 min and 1 hr chart.

On the 4 hr there was a bearish candle too.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 15 min.jpg Size: 178 KB
Click to Enlarge Name: 1 hr.png Size: 348 KB
  • #32,150
  • Feb 26, 2010 7:27am Feb 26, 2010 7:27am
Quoting bkg102665
Great and I hope you are also!!
thats good to hear. I am fine thanks
" When the ship starts to sink, don't just pray. JUMP "
  • #32,151
  • Feb 26, 2010 7:32am Feb 26, 2010 7:32am
Quoting Gladis Night
thats good to hear. I am fine thanks
Hi Gladis and nice sig
  • #32,152
  • Feb 26, 2010 7:34am Feb 26, 2010 7:34am
Hi MCFly. I hope you are well today
" When the ship starts to sink, don't just pray. JUMP "
  • #32,153
  • Feb 26, 2010 7:36am Feb 26, 2010 7:36am
Quoting MCFly
I hope this helps. Some trades are a bit more risky than other. Short always at the beginning of the candle which follows the cycled candle.

PPA - Previous Price Action
BEOB - Bearish outside bar

Attached 15 min and 1 hr chart.

On the 4 hr there was a bearish candle too.
Thanks McFly. Nice colorful charts btw
  • #32,154
  • Feb 26, 2010 7:40am Feb 26, 2010 7:40am
Quoting Gladis Night
Hi MCFly. I hope you are well today
I'm fine. I hope you too.
  • #32,155
  • Feb 26, 2010 7:47am Feb 26, 2010 7:47am
Quoting kc0793
Thanks McFly. Nice colorful charts btw
When you want to see a bit more colorful charts than you can look here

http://www.forexfactory.com/showthread.php?t=185027

I haven't explained the trades in detail but I think you can see things like the round number 5300, trendlines, chart patterns...
  • #32,156
  • Feb 26, 2010 7:50am Feb 26, 2010 7:50am
I sure would like to see this thing run back up to 1.5360 today but I looked at the monthly chart since it is the last day of the month and it looked like it had some support down at 1.5168 to me so not real sure right now.EO I get that off the june 2000 close or would you be looking more at the dec 2000 close which is 1.4935, am I right in my thinking on that or all together wrong?
Please ask questions and share your experiences with us all!
  • #32,157
  • Feb 26, 2010 8:06am Feb 26, 2010 8:06am
Hi gladis, bkg, kc and all.I am good thnx hope all are too. I used to just trade with what I saw in front of me and did very very well. BUT.... One night I placed 1 trade , it went bad, very very bad, It spiralled from there - the wrong way. I thought that's it my luck has ran out. I need rules ( and stops)Hence my frustration and why I am here and babypips. I know you can make money in fx and a small percentage do incredibly well. So in short I am studying this method on it's own in a live account (small money) because i don't get that edge in a demo. My win to lose ratio is good but I am definately missing trades sorry to go on
great trading all
Sleeping boys catch no fish
  • #32,158
  • Feb 26, 2010 8:12am Feb 26, 2010 8:12am
Quoting wmloto
Hi gladis, bkg, kc and all.I am good thnx hope all are too. I used to just trade with what I saw in front of me and did very very well. BUT.... One night I placed 1 trade , it went bad, very very bad, It spiralled from there - the wrong way. I thought that's it my luck has ran out. I need rules ( and stops)Hence my frustration and why I am here and babypips. I know you can make money in fx and a small percentage do incredibly well. So in short I am studying this method on it's own in a live account (small money) because i don't get that edge in...
We all miss trades, well not EO, but most humans do just take your time and build your confidence back up
" When the ship starts to sink, don't just pray. JUMP "
  • #32,159
  • Feb 26, 2010 8:15am Feb 26, 2010 8:15am
Quoting Gladis Night
We all miss trades, well not EO, but most humans do just take your time and build your confidence back up
EO is not human he is a robot...
Please ask questions and share your experiences with us all!
  • #32,160
  • Feb 26, 2010 8:25am Feb 26, 2010 8:25am
Trust me I am taking this slow - how long do you think it will take me to become a robot?
Sleeping boys catch no fish
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