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Trade what you see NOT what you expect

  • #33,461
  • Apr 28, 2010 10:32am Apr 28, 2010 10:32am
ok for the second day in a row now..FXCM has had some of the WORST PA known to man.
I can watch the market move quite quickly on my FXDD MT4 charts, but FXCM is WAY behind..like a minute..the Price on MT4 was 5158 and FXCM was 5175..WTF???
can anybody explain what the hell is going on? Does anybody else have this problem?
  • #33,462
  • Apr 28, 2010 10:49am Apr 28, 2010 10:49am
Quoting dakrusha
ok for the second day in a row now..FXCM has had some of the WORST PA known to man.
I can watch the market move quite quickly on my FXDD MT4 charts, but FXCM is WAY behind..like a minute..the Price on MT4 was 5158 and FXCM was 5175..WTF???
can anybody explain what the hell is going on? Does anybody else have this problem?
I don't know what is going on, that's why I quit using them years ago.

A good trader can use the discrepancies to their advantage for scalps.
Hi, my name is Barry and you can keep your doctor...
  • #33,463
  • Apr 28, 2010 11:06am Apr 28, 2010 11:06am
Quoting cisco
I don't know what is going on, that's why I quit using them years ago.

A good trader can use the discrepancies to their advantage for scalps.
yeah i haven't had any real issues with them but this PA problem is pretty big. it's just "too" off for me
  • #33,464
  • Apr 28, 2010 3:06pm Apr 28, 2010 3:06pm
Quoting fx_magic
Hi BKg ,
for the 35/50 cross trade do you wait for a pull back to small MAs like 5,10 or will u enter straight away after the candle that closed through 35 SMA.
Sorry for the slow response but here is how I play the 35 +35. Lets take todays trade on the eur/jpy.At 9:00 gmt a bullish candle crossed the 35ma and closed at a price of 123.13.I do not set a pending order 35 pips beyond that because I want a candle to close 35 pips beyond 123.13.So at 9:45 gmt a candle closed at 123.73 and then I place my buy order with a 50 pip t/p and a 30 pip s/l. I play this on gbp/usd gbp/jpy and eur/jpy.It will normally get me 250 pips per week on the average.Last week it was around 150 and this week 200 so far.It does not work everytime but I take it everytime because when you start trying to figure out which ones to take and which ones not to take it screws it all up.I have an alert sent to my phone from an indicator fxguru made for me so the only time I have to look at computer is when I enter the order.You MUST put a s/l and t/p when you enter the trade to be successful at it.I have attached the indicator so good luck and if you need a question answered it may be quicker to PM me.Good luck!!

Kent
Attached File(s)
File Type: ex4 FXGuru_3535Indicator.ex4   12 KB | 318 downloads
Please ask questions and share your experiences with us all!
  • #33,465
  • Apr 28, 2010 3:44pm Apr 28, 2010 3:44pm
Quoting bkg102665
Sorry for the slow response but here is how I play the 35 +35. Lets take todays trade on the eur/jpy.At 9:00 gmt a bullish candle crossed the 35ma and closed at a price of 123.13.I do not set a pending order 35 pips beyond that because I want a candle to close 35 pips beyond 123.13.So at 9:45 gmt a candle closed at 123.73 and then I place my buy order with a 50 pip t/p and a 30 pip s/l. I play this on gbp/usd gbp/jpy and eur/jpy.It will normally get me 250 pips per week on the average.Last week it was around 150 and this week 200 so far.It does...

Thanks Kent --

Wondering about the .mq4 file for your alert? is there one? can the .ex4 be changed to .mq4?
  • #33,466
  • Apr 28, 2010 5:57pm Apr 28, 2010 5:57pm
Quoting perch
Thanks Kent --

Wondering about the .mq4 file for your alert? is there one? can the .ex4 be changed to .mq4?
I am not computer savy at all but it loads on my mt4 charts fine.....
Please ask questions and share your experiences with us all!
  • #33,467
  • Apr 28, 2010 6:17pm Apr 28, 2010 6:17pm
I need some help from you guys. I need to add an alert to the indicator that will alert more than once, I need it to keep alerting until I manually cut it off.Does anyone know how to do that?
Please ask questions and share your experiences with us all!
  • #33,468
  • Apr 28, 2010 6:21pm Apr 28, 2010 6:21pm
Quoting PippiNole
This is a quick response due to being extremely busy today. You were correct in your analysis of my entry near the top of the 15min wick (126.11). Before every trading session I check the HTF charts and saw we had a pin on the 4hr chart so I was looking to take a short up the 4hr wick.

I will have to respond to your other trades a little later.
Sorry for the delay in my response!

1) Would not have taken the trade you took but would have waited until price reach the 1hr 62 area.

2) Missed taking the 1hr 62 trade because I was still in the middle of a date with my pillow but had a TP set there from the previous short.

3) The next little circled hammer tempted me but I waited to take a short at your next circled area.

4) Took a long from the previous 1hr 62 support area.

Going into this trading session I was anticipating some consolidation (range trading) after having the big run up the previous trading day.
  • #33,469
  • Apr 29, 2010 9:55am Apr 29, 2010 9:55am
Hi Kent ,

Thanks for the reply..will demo this first and see how it works for me..happy trading!!
  • #33,470
  • Apr 29, 2010 10:59am Apr 29, 2010 10:59am
Quoting PippiNole
Sorry for the delay in my response!

1) Would not have taken the trade you took but would have waited until price reach the 1hr 62 area.

2) Missed taking the 1hr 62 trade because I was still in the middle of a date with my pillow but had a TP set there from the previous short.

3) The next little circled hammer tempted me but I waited to take a short at your next circled area.

4) Took a long from the previous 1hr 62 support area.

Going into this trading session I was anticipating some consolidation (range trading) after having the big run...
Hi Pippi,

my english teacher told me ever "better late than never sir".
It's nice to life in europe (okay atm not so much) because I can trade the Frankfurt/London and US session in the daytime. I make a very good progress in trading the EO style and it's nice to get some guidance from the experienced traders.
  • #33,471
  • Apr 29, 2010 5:22pm Apr 29, 2010 5:22pm
Quoting dakrusha
ok for the second day in a row now..FXCM has had some of the WORST PA known to man.
I can watch the market move quite quickly on my FXDD MT4 charts, but FXCM is WAY behind..like a minute..the Price on MT4 was 5158 and FXCM was 5175..WTF???
can anybody explain what the hell is going on? Does anybody else have this problem?


http://www.forexfactory.com/showthre...t=8960&page=67

http://www.forexfactory.com/showthread.php?t=233844

Inserted Video
  • #33,472
  • Apr 29, 2010 7:53pm Apr 29, 2010 7:53pm
First question would be is it Demo chart/account?

I tend to keep a live chart open with actual broker as well as running MT4 (demo) that way I can be sure that entry/price is correct.
Don't Anticipate
  • #33,473
  • Apr 30, 2010 2:14am Apr 30, 2010 2:14am
Quoting Utopia
http://www.forexfactory.com/showthre...t=8960&page=67

http://www.forexfactory.com/showthread.php?t=233844

http://www.youtube.com/watch?v=IwMY-zjYEek

thanks for this.
i'm glad to see i'm not alone in my frustration with them.
i had three trades that closed WAY off of where i picked their closure. I call them on it and they gave me back my trades 100%.
so i was happy with that
  • #33,474
  • Apr 30, 2010 1:18pm Apr 30, 2010 1:18pm
I beleive it was Ken Lee - if I am wrong apologize. The topic here as of late is a 35 + 35 cross over or some sort.

I just read in this document I think we all know if a candle passes the 35 and then 50 and closes 'above/below' the 50 with a small wick - we are to play the reverse immediately on the open of the other candle - and this has to be ONLY if the break of the 50 is not more than 35 pips in fact it said - if the break is 10 pips - then your SL is 25 pips vs. 35 pips.

So what I am trying to get to is the next statements in this document state if this candle crossed both 35 and 50 and has gone 35+ pips PAST the 50 - -this is NO LONGER a Trade the reverse - - but rather trade in the direction. for a 'continuation' trade - - the example I think had waited for a little retrace - where one of the next candles looks like a 'bounce' off the 50.


Maybe i am off base here - correct me if I am, as I a new to EOhaters thread - but I am smitten with it. this is the one that makes sense between my ears -- -and I think that is sometimes 1/2 the battle - - if it doesn't make sense their - then how can you think you will be profitable.
  • #33,475
  • May 1, 2010 7:33am May 1, 2010 7:33am
Quoting perch
I beleive it was Ken Lee - if I am wrong apologize. The topic here as of late is a 35 + 35 cross over or some sort.
Hi Perch

Ken has got a very good grasp of the trade set-ups mentioned in EO's method and, as always, he's posted some great chart examples.

Here are just some of my thoughts on the 35/50 and +35 pip elements.

I consider there to be two elements related to this part of the method. One refers to a single candle cross of the 15m 35 & 50 ma's, and the other refers to identifying price direction (long or short) based on where price is in relation to the 15m 35sma.

The first element is the 35/50 cross trade which itself is split into two parts depending on where price is in the bigger picture:

Part 1 could be when price is trending in one direction but makes a retrace/pullback (possibly off a s/r area or a previous high/low) back to the 15m ma's. Here, when price crosses the 35/50, you trade the reversal as per the rules back across the 35/50 and price then continues on in the original direction of the trend, possibly going on to break the s/r area that originally caused the retrace and on to the next area of interest.

Part 2 could be when price has reached a significant area of interest (higher time frame s/r or ma) and has turned (reversed) and is now going to have to cross back over the 15m ma's on its way to the next significant area of interest. Here, when price crosses the 35/50 and closes, you may only be presented with a retrace back to the 35 or 50 before price then continues in the direction of the break (i.e, it doesn't cross back through the 35/50)

The key here of course is recognising which is going to be a cross and reverse trade and which is going to be a breakthrough trade. This comes from understanding where price is on its higher time frame moves.

The 35/50 cross and reverse trade can of course also occur when price is consolidating/ranging (referred to as "Gumping" in EO's thread) backwards and forwards across the 15m ma's until it finally breaks out of the range and starts to trend in one direction. This ties in with the second element of the 35/50 and +35 pip part of the method.

If price crosses the 15m 35sma and closes, EO only considers price to be truly moving (trending) in that direction when it has gone 35 pips or more beyond the closed price of the candle that crossed through the 35sma. If price has now moved more than 35 pips (beyond the closed price) it can be said to be trending in that direction (long or short) and targeting the higher time frame areas of interest. At this point you would start looking for the "1 O'clock" or "5 O'clock" trades i.e buying dips if direction is long or selling rallies if direction is short.

If, however, price has not yet moved 35 pips beyond the closed price of the candle which last crossed the 35sma there remains a chance that a 15m reversal candle &/or previous price action or minor s/r could send price back to (and possibly through) the 15m ma's.

As with all trading methods nothing is 100% and you have to keep one eye on the bigger picture, however, I see this part of the method as a quick reference when you open up your 15m charts as to whether price is currently long or short, or whether it's not yet made its mind up.

The best place to see EO's description of this part of his method is in his Intraday Worksheet. If you haven't already seen this document you can find it attached to the first post of the thread. It's a great summary document of the way this method can be traded intraday and gives you some structure to plan your day's trading on.

As I mentioned at the start this is just my take on things. There are other traders that have posted their understanding of this part of EO's method. Look at posts by "Leemonk" and "bkg102665" (there are other traders too) as they also provide comments as to how they trade it.

I personally think it's worthwhile taking the time and effort to fully understand this important part of the method.

Macc
  • #33,476
  • May 1, 2010 8:54am May 1, 2010 8:54am
Quoting macc
Hi Perch

Ken has got a very good grasp of the trade set-ups mentioned in EO's method and, as always, he's posted some great chart examples.

Here are just some of my thoughts on the 35/50 and +35 pip elements.

I consider there to be two elements related to this part of the method. One refers to a single candle cross of the 15m 35 & 50 ma's, and the other refers to identifying price direction (long or short) based on where price is in relation to the 15m 35sma.

The first element is the 35/50 cross trade which itself is split into two parts depending...
Hi Macc,

nice post. I hope your trading is going well.
  • #33,477
  • May 2, 2010 10:40am May 2, 2010 10:40am
I was just 'stepping' through the month of april on the 15 minute charts - trying my own little thing, when it did hit me pretty good, that maybe finally, I've got a shot at break even trading - BECAUSE - of what you are writing Macc.

It really does no good (for me) and I assume for anyone - to trade a system - -even if they understand the system perfectly - - if you don't understand the 'why' behind it - or maybe it's better said - you don't get the 'system' (I am using this very loosely - I do not want to down play that EO's trading is a "system" it just is the quickest way to refer to a trading methodology)

Anyway - if you don't understand the why behind it - you are still trading blindly. Is this a fair statement?

And so my 'method/system' is/was when the faster ema's curl over and go towards the slower ema's it is time to 'look' for an entry - that lead to the 10 x 21 ema's - - and so I thought I was onto something nice - only to about 1/2 hr later realize - frick - I am trading a simple cross of 2 ema's how dumb is that.

But now comes the 'better' part - actually the 10 x 21 might be just fine, IF you like you say Macc - understand "where" you are in the bigger picture. Sometimes the X is a buy signal and sometimes the same X is a sell signal - AND sometimes this same X is a no trade signal.

Here is what I am just now thinking - if a person can identify which 'signal' the 10 X 21 is signalling - that raises the success rate to 70% or better.

I think practice practice practice - -
  • #33,478
  • May 3, 2010 9:31am May 3, 2010 9:31am
Quoting macc
The best place to see EO's description of this part of his method is in his Intraday Worksheet. If you haven't already seen this document you can find it attached to the first post of the thread. It's a great summary document of the way this method can be traded intraday and gives you some structure to plan your day's trading on.

Just re - reading - and if you pay attention - you are correct sir! thank you.

I think I believe if you can strictly follow this one document - of course using some of your learned descretion - you (I) will become a profitable trader.
  • #33,479
  • May 4, 2010 8:55am May 4, 2010 8:55am
Quoting eohater
You said what I wanted to hear. STICKING TO TRADES THAT FALL ON S/R and I'm going to make a stab that your referring to the HTF S/R.

Keep it up Captain! Your on your way to another stage in your trading. This next stage is fun! It just keeps getting better from here, just remember your ground rules.

just wanted to bump this post that's all
  • #33,480
  • May 4, 2010 9:00am May 4, 2010 9:00am
Quoting eohater
As our monthly candle is nearing it's final burn, we should all take notice. The working monthly candle is indecisive in it's current state. This monthly candle has a big impact upon a short position I've been holding. As the current PA is showing, we are bearish from the prior 2 closed monthly candles. Take notice of the pin, followed by the full bearish candle that closed below the bottom wick of the pin. The working monthly candle has done it's retest of the pins closed price of 645x and the sellers have pushed price back down. If this monthly...

bumping this one too . *Note to self - you can read here, what you are suppose to be able to understand from chart reading on your own.
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