Trade what you see NOT what you expect | Page 1670 | 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

  • #33,381
  • Edited 6:22am Apr 9, 2010 5:57am | Edited 6:22am
BKG,

I trust you got your favourite 35+35 this morning?

Not sure if you were up though.

Out of interest.... do you often find that they retest the break somewhat? I found that today, both got tested to around 50% of the candle I bought in on which probably wouldhave been around a 38%fib (guess - as I dont use them).

Cheers
  • #33,382
  • Apr 9, 2010 5:58am Apr 9, 2010 5:58am
It is surely quiet in here Leemonk!
When this baby hits 88 miles per hour, you're gonna see some serious s***.
  • #33,383
  • Apr 9, 2010 6:13am Apr 9, 2010 6:13am
Aye,

It certainly is.

I am determined to keep the thread running for a little more. At least until I finish reading it.

I Just wish EO and Pippi would post a little more

That said, they certainly deserve their own quiet time, so you can't blame them for that.

Lee
  • #33,384
  • Apr 9, 2010 6:17am Apr 9, 2010 6:17am
Not to remove you from this thread...I too visit everyday but if you get a chance take a look at these two threads. Some fantastic traders in them.

Nearly Naked (Simple Trades)
Weekly COT report Analysis + Trade Ideas


When this baby hits 88 miles per hour, you're gonna see some serious s***.
  • #33,385
  • Apr 9, 2010 6:26am Apr 9, 2010 6:26am
Quoting MarcVUM
Not to remove you from this thread...I too visit everyday but if you get a chance take a look at these two threads. Some fantastic traders in them.

Nearly Naked (Simple Trades)
Weekly COT report Analysis + Trade Ideas



Thanks for that. I shall have a nosey at those as soon as I have finished reading this thread.

As I mentioned previously, the amount of information in the thread thats not in the manual is amazing. The manual is great, but just some little touches here and there make a massive difference.

note though, I am only on post #1046..... and you can see how many there are!

I am new to trading, so, will those thread compliment whats here as I do not have the patience to trade longer term.... ie holding daily trades on a regular basis?

Regards

Lee
  • #33,386
  • Apr 9, 2010 6:28am Apr 9, 2010 6:28am
Quoting leemonk

I am new to trading, so, will those thread compliment whats here as I do not have the patience to trade longer term.... ie holding daily trades on a regular basis?

Regards

Lee
Yep. Just do what EO says and follow your S/R lines. Use this site as well for your S/R's. http://www.actionforex.com/technical...-200603205734/
When this baby hits 88 miles per hour, you're gonna see some serious s***.
  • #33,387
  • Apr 9, 2010 6:41am Apr 9, 2010 6:41am
Thanks again Marc!

I'm looking at that site now.

As I am still learning - only 6 weeks in now!!, may I ask a question of you.

Given that there are multiple Timeframes there, I take it you would expect the lower timeframes to react to the higher timeframe SR's.

ie there is no 15 minute there, but the 15min chart will react with the 1hr chart.

It seems obvious to me that it will, but in this game, I am learning that there is no silly questions to ask....... and as my Dad always said, you should eat like a king in the morning, a prince in the afternoo...... oh, wrong saying

He said, a silly question is one thats not asked!

Can I also ask (ps - this is where you begin to regret chatting with me ) These numbers are gained from previous price action?

I ask as I have a pivot indicator given to me by a friend that has the same points for all the time frames.

Regards

Lee
  • #33,388
  • Apr 9, 2010 6:50am Apr 9, 2010 6:50am
Quoting leemonk
Thanks for that. I shall have a nosey at those as soon as I have finished reading this thread.

As I mentioned previously, the amount of information in the thread thats not in the manual is amazing. The manual is great, but just some little touches here and there make a massive difference.

note though, I am only on post #1046..... and you can see how many there are!

I am new to trading, so, will those thread compliment whats here as I do not have the patience to trade longer term.... ie holding daily trades on a regular basis?

Regards

Lee...
Hi leemonk,

have you read Ken's thread too? The thread is in the trading system section and deals with EO's method. It's definitively worth to read the thread.
  • #33,389
  • Apr 9, 2010 6:56am Apr 9, 2010 6:56am
I've not, but my friend from these forums has highly recomended it to me.

I would imagine I might find a lot of the 'old faces' in there.... well, as old as they can be for someone thats only been here a few months
  • #33,390
  • Apr 9, 2010 7:53am Apr 9, 2010 7:53am
Quoting leemonk
Thanks again Marc!

I'm looking at that site now.

As I am still learning - only 6 weeks in now!!, may I ask a question of you.

Given that there are multiple Timeframes there, I take it you would expect the lower timeframes to react to the higher timeframe SR's.

ie there is no 15 minute there, but the 15min chart will react with the 1hr chart.

It seems obvious to me that it will, but in this game, I am learning that there is no silly questions to ask....... and as my Dad always said, you should eat like a king in the morning, a prince in the...
No worries with the questions! Yes, these numbers are gained from previous price action. In my experience I have noticed that utilizing the weekly and daily numbers are most effective when trading on the H4, H1 and M15 TF's. Weekly more than anything else. You can pretty much set a PO at a weekly S/R and get a nice bounce!
When this baby hits 88 miles per hour, you're gonna see some serious s***.
  • #33,391
  • Apr 9, 2010 8:48am Apr 9, 2010 8:48am
Thats great. Thanks for taking the time to answer the questions!!!

I'll have a look at these figures over the weekend. I don't suppose you know if there are backlogs of them? might be interesting to have a look at them over the weekend.
  • #33,392
  • Apr 9, 2010 8:50am Apr 9, 2010 8:50am
Hey all,

Just seeing if anyone out there has taken advantage of the following:

 

  1. EJ 35+35 from earlier
  2. The 62 bounce around an hour ago (I pooped my pants and took 6 pips and look what happened!)
  3. GU 35+35 from earlier
  4. What could be another EJ 35+35, though I do not know if this works twice in a row!


WARNING - I AM NEW - PLEASE DONT TRADE MY OPINIONS - UNLESS YOU AGREE WITH THEM

Regards

Lee

  • #33,393
  • Apr 9, 2010 8:54am Apr 9, 2010 8:54am
Quoting leemonk
Thats great. Thanks for taking the time to answer the questions!!!

I'll have a look at these figures over the weekend. I don't suppose you know if there are backlogs of them? might be interesting to have a look at them over the weekend.
That I do not know but if there were I do not think that it would be of any help since the Daily's typically change daily and so on. It would be a bit of a pain to chart the changes in S/R's and PA back through history. The price level lines would be all over the place. It would be wise to plot the S/R's on H4, H1 and M15 charts on G/U and say A/U for this past week. You will see their accuracy.
When this baby hits 88 miles per hour, you're gonna see some serious s***.
  • #33,394
  • Apr 9, 2010 8:54am Apr 9, 2010 8:54am
Quoting leemonk
Hey all,

Just seeing if anyone out there has taken advantage of the following:

 

  1. EJ 35+35 from earlier
  2. The 62 bounce around an hour ago (I pooped my pants and took 6 pips and look what happened!)
  3. GU 35+35 from earlier
  4. What could be another EJ 35+35, though I do not know if this works twice in a row!


WARNING - I AM NEW - PLEASE DONT TRADE MY OPINIONS - UNLESS YOU AGREE WITH THEM

Regards

Lee

I took the GU trade. There were a lot of reasons why it was a good possibility to go long.
  • #33,395
  • Apr 9, 2010 9:07am Apr 9, 2010 9:07am
Quoting MCFly
I took the GU trade. There were a lot of reasons why it was a good possibility to go long.
Grats MCFly.

I am kind of flying a little blind on EO's system currently. I am just sad that I missed the 50 bounce before it.

I was looking at the EJ at the time.
  • #33,396
  • Apr 9, 2010 9:32am Apr 9, 2010 9:32am
Quoting leemonk
Grats MCFly.

I am kind of flying a little blind on EO's system currently. I am just sad that I missed the 50 bounce before it.

I was looking at the EJ at the time.
I don't know if it will help you when I say that it needs time to master EO's system. I think screentime, screentime and more screentime is most important.
  • #33,397
  • Apr 9, 2010 3:52pm Apr 9, 2010 3:52pm
Great weekend to all.
  • #33,398
  • Edited 11:37pm Apr 10, 2010 11:19pm | Edited 11:37pm
I sent this to Lee on a PM, but felt I needed to put it on the thread.

Most important things I learned from EO are:

1. Set your s/l........if it get's hit so what, MOVE ON!!! http://cdn.forexfactory.com/images/s.../yim/happy.gif

You have to let it go otherwise it affects your trading. http://cdn.forexfactory.com/images/s...ed_eyebrow.gif

2. After entering a trade once you get in profit....20+ pips or so, depending on your preference, take some profit and move s/l to +1-2.

If your +1-2 s/l gets hit so what, MOVE ON.....you can always re-enter. http://cdn.forexfactory.com/images/s...ed_eyebrow.gif

With a better plan. http://cdn.forexfactory.com/images/s...im/waiting.gif

Keep looking for the next setup, if your pre-planning the next trade, once the setup presents itself you can react.

HOLLA http://cdn.forexfactory.com/images/smilies/peace.gif
  • #33,399
  • Apr 11, 2010 12:02am Apr 11, 2010 12:02am
hey eohater,

I like that pdf you posted, "what you see is what you get" I read a forex book recentyly and it agrees with what you said... people tend to look for chart patterns which dont exist - if you dont see the pattern stick out instantly, chances are its not there and your just bending your perception.
  • #33,400
  • Apr 11, 2010 8:10am Apr 11, 2010 8:10am
Quoting Turtle
I sent this to Lee on a PM, but felt I needed to put it on the thread.

Most important things I learned from EO are:...
Hey Turtle, thanks for sharing
It's a dirty job but someone's gotta do it!
6 traders viewing now