Trade what you see NOT what you expect | Page 1671 | 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

  • #33,401
  • Apr 12, 2010 1:57am Apr 12, 2010 1:57am
Quoting ethanworks
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.
I hope you don't confuse chart patterns with candles.
While i have never looked for chart patterns i have spend much time looking at what the candles mean and what they tell about direction. There is a lot of strength there.
  • #33,402
  • Apr 12, 2010 1:58am Apr 12, 2010 1:58am
up 98.5 pips for the day. Nice opening day for me.
Hope you all are killin it as well.
  • #33,403
  • Apr 12, 2010 2:02am Apr 12, 2010 2:02am
Quoting dakrusha
up 98.5 pips for the day. Nice opening day for me.
Hope you all are killin it as well.
No, I think I was on the other side of your trades. Ah well its early yet.
  • #33,404
  • Apr 12, 2010 2:07am Apr 12, 2010 2:07am
Quoting Chicopips
No, I think I was on the other side of your trades. Ah well its early yet.
sorry bro...keep vigilant...it will come to you
  • #33,405
  • Apr 12, 2010 10:25am Apr 12, 2010 10:25am
Dakrusha, it's 8:25 here (San Diego). During what time period did you make your 98.5 pips and on what pairs, if I may ask? Congrats!
  • #33,406
  • Apr 12, 2010 11:29am Apr 12, 2010 11:29am
Quoting mary4x
Dakrusha, it's 8:25 here (San Diego). During what time period did you make your 98.5 pips and on what pairs, if I may ask? Congrats!
of course you may ask. i have no secrets. (with trading )

I made my pips from right when my broker opened (bout 5 min after 2 pm...i'm in so cal also) thru last night.

i trade on the 5M TF so i'm catching 10-20 pip bounces. A few trades were doubled up as well so i had a couple that were +15 x2 at the same time.

i only trade the GU. I stay away from others. i find it distracting. there is plenty of money to be made on this pair alone and it allows me to "get into the groove" easier.
  • #33,407
  • Apr 12, 2010 11:33am Apr 12, 2010 11:33am
When you say a few trades were doubled up, does that mean you were in 2 trades going the same direction at the same time?
  • #33,408
  • Apr 12, 2010 12:12pm Apr 12, 2010 12:12pm
Quoting mary4x
When you say a few trades were doubled up, does that mean you were in 2 trades going the same direction at the same time?
yes.
what i often do is this...
i enter a trade. if it goes against my entry and lingers there (less than 15 pips) i will often RE enter AT or NEAR my original entry as it is going back into my direction.

The 5M offers lots of great trades but can have a lot of noise in it if you're not careful and can also be very deseptive if the big dogs are looking at a larger TF so it's important to keep note of what is happening on the other TF's.

SO...if on the 1H it's been dropping for the last three hours and is now sitting at an MA, then it's time to find a good long entry on the 5M. I'm constantly checking other TF's to compare and see what's happening. If you look carefully, you can usually see what TF the money is looking at. It has a way of showing itself and it seems to have specific followers during certain sessions.

hope this helps

EDIT......
now up 132 pips for the last 24 hours.... i only have a few hours of trading to achieve that. it's not always that profitable but when you're on a heater, you don't leave...
  • #33,409
  • Apr 12, 2010 12:41pm Apr 12, 2010 12:41pm
Quoting dakrusha
...if on the 1H it's been dropping for the last three hours and is now sitting at an MA, then it's time to find a good long entry on the 5M.... If you look carefully, you can usually see what TF the money is looking at. It has a way of showing itself and it seems to have specific followers during certain sessions.
Great suggestions.
  • #33,410
  • Apr 13, 2010 3:56am Apr 13, 2010 3:56am
Dakrusha,

What setups do you trade? I also trade the 5min and then the 15min, only GU. I go for the 5 ema/10ema touch, If I recall correctly it is called the 1 o'clock or 5 0'clock trade in the pdf.. This strategy can give a lot of trades on the right days and 130 pips+ is certainly very possible. I do not post a lot on FF as it distracts me due to peoples market sentiment that doesn't correspond to mine, so I just check in now and again, but I have been trading for quite a few years.. Good luck to all.
Thank you j16!
  • #33,411
  • Apr 13, 2010 8:36am Apr 13, 2010 8:36am
Hi anderou,

Do you wait for all the MA's (35/50) to be "inline" for the setup or just the minor ones (5/10/21)?

Do you trade the 21 too?

tdeu

Quoting anderou
Dakrusha,

What setups do you trade? I also trade the 5min and then the 15min, only GU. I go for the 5 ema/10ema touch, If I recall correctly it is called the 1 o'clock or 5 0'clock trade in the pdf.. This strategy can give a lot of trades on the right days and 130 pips+ is certainly very possible. I do not post a lot on FF as it distracts me due to peoples market sentiment that doesn't correspond to mine, so I just check in now and again, but I have been trading for quite a few years.. Good luck to all.
  • #33,412
  • Apr 13, 2010 10:38am Apr 13, 2010 10:38am
Quoting anderou
Dakrusha,

What setups do you trade? I also trade the 5min and then the 15min, only GU. I go for the 5 ema/10ema touch, If I recall correctly it is called the 1 o'clock or 5 0'clock trade in the pdf.. This strategy can give a lot of trades on the right days and 130 pips+ is certainly very possible. I do not post a lot on FF as it distracts me due to peoples market sentiment that doesn't correspond to mine, so I just check in now and again, but I have been trading for quite a few years.. Good luck to all.

I don't trade a formal set up, so much as i'm trading from bigger moves and capturing the rebound a lot. I mostly place trades that move to or from the 20 EMA. So as a price gets further away from it, i will look for PA to reverse and trade back to it. From that point it usually means we have a new local hi or low and then i will trade to/from that as well.

there is one setup that i watch a bit on my own system, that is 50sma50ema cross. If the PA is long and has been for a while, the 50's will start to move close (like stochs). Often there is a divergence in there. I will often look for a larger trade to be happening. for me that means 30-40 pips.
  • #33,413
  • Apr 13, 2010 12:04pm Apr 13, 2010 12:04pm
Quoting tdeu
Hi anderou,

Do you wait for all the MA's (35/50) to be "inline" for the setup or just the minor ones (5/10/21)?

Do you trade the 21 too?

tdeu
Hi, I trade in the direction of the longer trend, so the 35 and 50 ma's will naturally be "lined up". That doesn't mean they have to be perfectly pointing up/downwards, I have come to experience that it is very often the setups one isn't to sure about that works out great, hence "trade what you see, not what you expect" You have to trust your system, and just stay in the general trend.. Regarding the 21ma, I use the 5/10ma for the 1 o'clock and 5 o'clock type trades on a 5min timeframe, the 35 and 50 ma's for the cross and pullback trade on the 15min timeframe and then lastly I trade pinbars/doji on 15min timeframes IN THE DIRECTION OF THE TREND. So no, I do not use the 20ma, it is on my chart just for the visual but I do not use it to trade off. Not saying it wouldn't work though, I just don't use it..
I only trade GU, londen session mostly, sometimes a bit into NY sessions when London is already closed. I get anything from 5-15 setups a day.

Hope that answers all your questions..

regards,

anderou
Thank you j16!
  • #33,414
  • Apr 14, 2010 5:17pm Apr 14, 2010 5:17pm
This thread better not be dying! Hope all is well everyone.
Cap
  • #33,415
  • Apr 14, 2010 5:44pm Apr 14, 2010 5:44pm
yeah it's been real quiet hear lately....strange to me
  • #33,416
  • Apr 14, 2010 11:35pm Apr 14, 2010 11:35pm
Quoting dakrusha
yeah it's been real quiet hear lately....strange to me
Hows' the trading going Dak? From the last few posts of yours it looks like you're killing it.
Cap
  • #33,417
  • Apr 14, 2010 11:50pm Apr 14, 2010 11:50pm
Quoting The Captain
Hows' the trading going Dak? From the last few posts of yours it looks like you're killing it.
i've been doing great.
i've learned a lot in the last three months. Over the last three years trading was always a bit...i guess distant from reality to me. Not because i didn't like/want to be doing it but i was always so busy with work. At the beginning of this year i laid a pile of cash at the forex gods feet for a higher stake in trading and i got my ass kicked. BADLY! but i have stuck to it and i have really weathered this storm. What's different now about my trading is now there's a sense of "groundedness" to it which is something i personally lacked. I think it took this storm to ground me somehow. I have found my bearings again and i'm doing great. I'm back to my trading before jan which is more like 300-400 pip weeks. My goal is only 250 per week and i have already met that goal this week. Everything here on in is gravy.

hows ur trading going? hope you're doing great
dak
  • #33,418
  • Apr 15, 2010 1:18am Apr 15, 2010 1:18am
Hi anderou,

What is your longer term trend, where do you put your SL and when do you take profit?

I looked into trading in the direction of the 5/10 as soon as they crossed regardless of what all the other MA's are doing. Usually you have one or two losing trades at the end of the session or when the trend breaks.

e.g. 5 crosses 10 to the upside go long already at the first pullback to the 5 and then to the 10. After that I wait for a new high or low to trade again.

cheers

tdeu

Quoting anderou
Hi, I trade in the direction of the longer trend, so the 35 and 50 ma's will naturally be "lined up". That doesn't mean they have to be perfectly pointing up/downwards, I have come to experience that it is very often the setups one isn't to sure about that works out great, hence "trade what you see, not what you expect" You have to trust your system, and just stay in the general trend.. Regarding the 21ma, I use the 5/10ma for the 1 o'clock and 5 o'clock type trades on a 5min timeframe, the 35 and 50 ma's for the cross and pullback trade on...
  • #33,419
  • Apr 15, 2010 10:02am Apr 15, 2010 10:02am
Quoting dakrusha
i've been doing great.
i've learned a lot in the last three months. Over the last three years trading was always a bit...i guess distant from reality to me. Not because i didn't like/want to be doing it but i was always so busy with work. At the beginning of this year i laid a pile of cash at the forex gods feet for a higher stake in trading and i got my ass kicked. BADLY! but i have stuck to it and i have really weathered this storm. What's different now about my trading is now there's a sense of "groundedness" to it which is something i personally...
Awesome dude. My trading is going well. Real busy with work so I only get a chance to trade off the dailys. I've been reading a lot in the james16 thread, and learning tons. Whenever work slows down I'll go back to EO's method and I know that trading the HTF's is going to help me out with intraday big time. Take care and hopefully some of the experience around here starts poking their heads in. Peace.
Cap
  • #33,420
  • Apr 15, 2010 4:43pm Apr 15, 2010 4:43pm
Quoting The Captain
Awesome dude. My trading is going well. Real busy with work so I only get a chance to trade off the dailys. I've been reading a lot in the james16 thread, and learning tons. Whenever work slows down I'll go back to EO's method and I know that trading the HTF's is going to help me out with intraday big time. Take care and hopefully some of the experience around here starts poking their heads in. Peace.
Hey Captain,

I work so cannot intraday trade - Agree, James16 thread is good for htf and has quality info. I think both EO's and James16's systems can add to the trading skill set.

Hey Daks,

Keep posting - this thread is too good to let go. Here's hoping those who have benefited start posting ideas.

Green pips to all
It's a dirty job but someone's gotta do it!
15 traders viewing now