Trade what you see NOT what you expect | Page 1696 | Forex Factory

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Why did you start trading and what do you expect from it? 19 replies

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Trade what you see NOT what you expect

  • #33,901
  • Mar 23, 2011 8:13pm Mar 23, 2011 8:13pm
Quoting cisco
Kinda reminds me of all those idiots who bought more house than they can afford and now want the taxpayers to bail them out. You know...those same taxpayers who live within their means and always get saddled with helping out the deadbeats who think the gov't owes it to them.
You are just old fashioned! Everybody needs a 2 car garage, 4 bathrooms, and a pool!
Cap
  • #33,902
  • Mar 23, 2011 8:16pm Mar 23, 2011 8:16pm
Quoting bkg102665
NOW THIS IS WHAT I AM TALKING ABOUT!! Lets get some game back in this thread.


HOLLA
  • #33,903
  • Mar 23, 2011 9:00pm Mar 23, 2011 9:00pm
Quoting The Captain
This is a chart to show why I will be closing my long and reversing short at 6280. It shows the resistance I'm looking at, and is also the H1 62ema.

Daily Chart
And after 1 hour of being up 15 pips, back to break even... I hate the Asian session!
Cap
  • #33,904
  • Mar 24, 2011 2:24am Mar 24, 2011 2:24am
Quoting cisco
Kinda reminds me of all those idiots who bought more house than they can afford and now want the taxpayers to bail them out. You know...those same taxpayers who live within their means and always get saddled with helping out the deadbeats who think the gov't owes it to them.
Ah yes, we have the very same people in the UK.

Sure, the banks were lending 100%+ mortgages but that doesn't mean you have to take them. It's the largely forgotten factor in the whole sorry mess. By all means blame the bankers but there's a big group of irresponsible borrowers that are as much to blame.

Anyhoo, Cable busy breaking new ground, may look for a breakout retest of yesterdays low if we get some positive trading below that level.
  • #33,905
  • Mar 24, 2011 3:11am Mar 24, 2011 3:11am
Quoting Trotty
Ah yes, we have the very same people in the UK.

Sure, the banks were lending 100%+ mortgages but that doesn't mean you have to take them. It's the largely forgotten factor in the whole sorry mess. By all means blame the bankers but there's a big group of irresponsible borrowers that are as much to blame.

Anyhoo, Cable busy breaking new ground, may look for a breakout retest of yesterdays low if we get some positive trading below that level.
No H1 close under it so nothing doing there for now.
  • #33,906
  • Mar 24, 2011 3:30am Mar 24, 2011 3:30am
Hi guys... it's nice to see some action in here. I have to say that somehow i don't follow EO's method anymore... but still have in mind his good advices. Especially all the vouce for the higher TF and the whole spirit of his method (don't be afraid to re-enter the trade, wait for the right moment, take your time to get a journal where u write your level and so on).

Will be reading what u guys will post and will give u all the credit that i think u guys deserve, after all.... doesn't matter if i pull the trigger for a reason or another one.. what matter is that we are on the same side of the trade and both profitable

one final personal note on luckylady... don't know if it's true what they said... as far as i remember she was gentle and wishing to help, so that is how i consider her... not knowing the facts we can't really judge

cheers guys! and wish u all greep pips!
I don't want a job, i want money!
  • #33,907
  • Mar 24, 2011 9:22am Mar 24, 2011 9:22am
Had a nice +20pip short trade on EU this Morning! Good Resistence/bounce off 200sma(15min) and round number.

http://img863.imageshack.us/img863/6850/eu20pip.gif
  • #33,908
  • Mar 24, 2011 9:42am Mar 24, 2011 9:42am
But here you go:

Brown ma is the 50, great ppa line acting as support and fibs and other gooood stuff all in there. You may call this approach EO/Ken Lee hybrid styleee

If you wonder why it looks as if i'm not actually in the trade, my trades are on Oanda but I chart with MT4.
Attached Image (click to enlarge)
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  • #33,909
  • Mar 24, 2011 9:53am Mar 24, 2011 9:53am
Quoting Ahsanfx
Had a nice +20pip short trade on EU this Morning! Good Resistence/bounce off 200sma(15min) and round number.
And taking a look at the H4, there is a good bounce off of the 50ema which also coincides with the weekly pivot and that would take it back long.
Consistency separates luck from Skill
  • #33,910
  • Mar 24, 2011 9:56am Mar 24, 2011 9:56am
Quoting Trotty
But here you go:

Brown ma is the 50, great ppa line acting as support and fibs and other gooood stuff all in there. You may call this approach EO/Ken Lee hybrid styleee

If you wonder why it looks as if i'm not actually in the trade, my trades are on Oanda but I chart with MT4.
Similar situation on the EY as well Nice Trade!

http://img857.imageshack.us/img857/7369/eyeusim.gif
  • #33,911
  • Mar 24, 2011 9:58am Mar 24, 2011 9:58am
Quoting wingnut
And taking a look at the H4, there is a good bounce off of the 50ema which also coincides with the weekly pivot and that would take it back long.
Yup noticed that as well, as "Trotty" has also mentioned in his post. Similar situation on the EY as posted in the chart above. I was not at the computer to catch those setups. You win some and you miss some, just don't ever lose some! lol
  • #33,912
  • Mar 24, 2011 10:00am Mar 24, 2011 10:00am
Quoting Ahsanfx
Similar situation on the EY as well Nice Trade!

http://img857.imageshack.us/img857/7369/eyeusim.gif
Cheers, very similar trade that but wasn't watching it. Nice spot.
  • #33,913
  • Mar 24, 2011 10:04am Mar 24, 2011 10:04am
Quoting Ahsanfx
Yup noticed that as well, as "Trotty" has also mentioned in his post. Similar situation on the EY as posted in the chart above. I was not at the computer to catch those setups. You win some and you miss some, just don't ever lose some! lol
I wasn't at the pc either as I have the "job" to contend with. . . but is see our next PPA/resistance on this off the H4 around 4245 if it can bust through the 4200 to 4220 area.
Consistency separates luck from Skill
  • #33,914
  • Mar 24, 2011 10:22am Mar 24, 2011 10:22am
Quoting wingnut
I wasn't at the pc either as I have the "job" to contend with. . . but is see our next PPA/resistance on this off the H4 around 4245 if it can bust through the 4200 to 4220 area.
Yes Sir, you are Correct.

Here is a visual for those who would like to see what "wingnut" is talking about. My S/r Lines are bit off from his numbers but they are close enough to represent the general idea. Hope this helps.

Red lines=Resistance Blue Lines=Support

http://img683.imageshack.us/img683/6007/euh41.gif
  • #33,915
  • Mar 24, 2011 10:36am Mar 24, 2011 10:36am
Hey Guys,

Good to see some of you grabbing some pips today. Here's a Temptress trade I just entered a few minutes ago. Not a huge resistance but enough to print a 15 minute pin. I like to wait to see what price is going to do on situations like this, so to try to get a better price I wait to see if it will run up the wicks, in this case it did and I entered. Hoping for a bit of a late day retrace - we shall see.
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Cap
  • #33,916
  • Mar 24, 2011 10:42am Mar 24, 2011 10:42am
Quoting The Captain
Hey Guys,

Good to see some of you grabbing some pips today. Here's a Temptress trade I just entered a few minutes ago. Not a huge resistance but enough to print a 15 minute pin. I like to wait to see what price is going to do on situations like this, so try and get a better price I wait to see if it will run up the wicks, in this case it did and I entered. Hoping for a bit of a late day retrace - we shall see.
Just took a quick scalp off the same area.

I sometimes watch M1 at these areas using a few bits and bats I know about VSA, it can get you really tight entries to siphon off a few pips. I took 10 and left half in as a wait and see.
  • #33,917
  • Mar 24, 2011 10:47am Mar 24, 2011 10:47am
Quoting Trotty
Just took a quick scalp off the same area.

I sometimes watch M1 at these areas using a few bits and bats I know about VSA, it can get you really tight entries to siphon off a few pips. I took 10 and left half in as a wait and see.
Nice one! At this time of day one can't expect much, so taking quick profit can be a good idea. I'll take half off at 15.
Cap
  • #33,918
  • Mar 24, 2011 10:51am Mar 24, 2011 10:51am
Quoting The Captain
Nice one! At this time of day one can't expect much, so taking quick profit can be a good idea. I'll take half off at 15.
Should be there soon, best of luck man.
  • #33,919
  • Mar 24, 2011 11:42am Mar 24, 2011 11:42am
Quoting Trotty
Should be there soon, best of luck man.
Thanks. Took half at +15 and half at +30.

Much like what EO said last week, I also hope to see more people post charts to justify the trade they are taking - before, or as they take them, in real time.

It doesn't happen very often around here, but the best way for everyone to learn is to see the trades while they are happening, instead of after the fact. Showing past trades, or trades that would have worked do not do the justice that live setups do.

This is why I started posting my trades in real-time. This also could help people from taking losing trades, as others may jump in with advice.

Hopefully this is beneficial to people, and I hope more join in. Remember, nobody has anything to prove to eachother, or any reputation to uphold. Even EO has losing trades - nobody has a 100% win ratio.

So I encourage everyone to not be afraid to post trades as they are happening, as the learning potential is far greater!

Cheers
Cap
  • #33,920
  • Mar 24, 2011 12:07pm Mar 24, 2011 12:07pm
Quoting The Captain
Thanks....
Yeah, couldn't agree more with that.

I began posting live setups and entries on Ken's thread but it was too inactive during London (my usual trading time) so nobody seemed to be benefitting from it. If we get this going again, it'd be excellent to get a few us throwing up pending setups and live entries.
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