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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

  • #33,961
  • Mar 25, 2011 9:16am Mar 25, 2011 9:16am
Hi all,
honestly I could never make the 35/50, 1 hr 62 ema and 1/5 o'clock trades work. All I trade is MA's, s&r and candle patterns.

I'm trying to change to the higher tf's at the moment because I'm sure my government will install a financial transaction tax soon. This means that lower tf trading will be dead. For this reason I spend a lot of time in the J16 thread.

Happy trading all
  • #33,962
  • Mar 25, 2011 10:09am Mar 25, 2011 10:09am
Quoting lady bird
Good to see this EO Forum is back to Life
See you all back next week
Julia, didn't you used to have a pic of a sexy looking gal as your avatar before or am I confusing you with someone else?
Hi, my name is Barry and you can keep your doctor...
  • #33,963
  • Mar 25, 2011 12:34pm Mar 25, 2011 12:34pm
Quoting cisco
Julia, didn't you used to have a pic of a sexy looking gal as your avatar before or am I confusing you with someone else?
I think she did! The more pictures you post the more help you will receive!

Julia - j'vais repondre a ton message ce weekend, je n'oublierai pas - j'dois aller apres un semaine comme ca!!!

Hope everybody had a great week! My EU long last night missed the 4200 TP by 6 pips while I slept..so BE for me.

It was great to see so many charts when I got home from work today. I'm really looking forward to being able to trade almost full time next week with so many good traders around (Although Gadaffi is really F**ing up my trading schedule)

I would love to see some of your guys' analysis for the next week of what you will be looking for - we are near some interesting trendlines!

Best of luck to all and catch you all next week,

Peace in the middle east!

Cap
Cap
  • #33,964
  • Mar 25, 2011 1:20pm Mar 25, 2011 1:20pm
hi all

i have been taking certain types of setups. I have had enormous sucess with them till now. I dont know if it belongs here but i am certain that this thread was the source. Please forgive if it's way out of way but i genuinely feel can help someone.

In such setups price comes back to an MA and MA holds it up while there is consolidation in form of many small small candles. In these small candles i look for higher highs or lower lows depending on which way i am trading it. I often trade them with 5-6 pip SL and large trailing targets. Here is a trade that developed today.

I find such trades often and because they need small SL i am able to hit double/ triple lots gaining some serious net pip count. Let me know if someone need any clarification.
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Making money is easy- Just dont take losing trades
  • #33,965
  • Mar 25, 2011 1:54pm Mar 25, 2011 1:54pm
Hey Survivor, that move started yesterday, check out the arrow and look what happen when it clear the 62ema(white) and the 100sma (green), then really kicked in once it clear the 200sma (lawn green).

Brother wasn't up this morning to catch the part you posted. But I did see that area on a 5M.

Will post some charts late tonight after I come back from DJing.

Glad to see the thread getting an intervention.

Let the weekend begin.....

HOLLA
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  • #33,966
  • Mar 25, 2011 11:16pm Mar 25, 2011 11:16pm
Quoting Turtle
Hey Survivor, that move started yesterday, check out the arrow and look what happen when it clear the 62ema(white) and the 100sma (green), then really kicked in once it clear the 200sma (lawn green).

Brother wasn't up this morning to catch the part you posted. But I did see that area on a 5M.

Will post some charts late tonight after I come back from DJing.

Glad to see the thread getting an intervention.

Let the weekend begin.....

HOLLA
Thanks turtle. Yours is bound to be better entry. But i have been trading what works for me and using this money to figure what doesn't work for me and why. I would think at least three four solid setups are needed to make money consistently.
Making money is easy- Just dont take losing trades
  • #33,967
  • Mar 25, 2011 11:31pm Mar 25, 2011 11:31pm
Quoting Survivor
hi all

i have been taking certain types of setups. I have had enormous sucess with them till now. I dont know if it belongs here but i am certain that this thread was the source. Please forgive if it's way out of way but i genuinely feel can help someone.

In such setups price comes back to an MA and MA holds it up while there is consolidation in form of many small small candles. In these small candles i look for higher highs or lower lows depending on which way i am trading it. I often trade them with 5-6 pip SL and large trailing targets. Here...
Hi Survivor

Though the clarification is more than enough.... but just have have a couple of queries that is suppose u are going to go long would u wait for atleast 3 bullish candles/soldiers or maybe more during the consolidation or smaller candles phase? and do you use only the hourly timeframe to make your entries? thanks

Regards

Ali Raza
Raza
  • #33,968
  • Edited 1:26am Mar 26, 2011 1:24am | Edited 1:26am
Quoting Survivor
Thanks turtle. Yours is bound to be better entry. But i have been trading what works for me and using this money to figure what doesn't work for me and why. I would think at least three four solid setups are needed to make money consistently.
No worries bro......I missed the whole move myself. Was more focus on school this week.

Just got in from DJing a gig, a military ball. Dude sprained his wrist dancing...go figure!!!!

Anyway, until schools out, I can only trade 4hr charts, gotta see the setup then, after that it is back to the books until May. :nerd:

Brother wish I was up this morning, that was a nice move from your spot, glad you got some. One thing I learn from this thread is whatever you feel comfortable with is cool with me.

DAMM....it's late. Gonna look at some charts later on.

HOLLA
  • #33,969
  • Mar 26, 2011 2:07am Mar 26, 2011 2:07am
Quoting shr5
Hi Survivor

Though the clarification is more than enough.... but just have have a couple of queries that is suppose u are going to go long would u wait for atleast 3 bullish candles/soldiers or maybe more during the consolidation or smaller candles phase? and do you use only the hourly timeframe to make your entries? thanks

Regards

Ali Raza

Hi ali,

First, I take these trades in any time frame i find. But you have to adjust targets accordingly. A constrainment in 1h will certainly give more pips than a constarinment in 15M.

Second, 3 candles are good enough. Also note that higher time frames / fast movers will give lesser number of candle. 15m USDCAD is likely to give large number of candles but GU 1H is hardly likely to give 2 candles. THis information helps in deciding if one should jump fast with larger Sl or wait patiently for replacements for entry.

The candles themselves maybe bullish or bearish. I dont care about red or green candles. what i like to see is higher lows for long and lower highs for shorts. That basically means your ma should rising for long and falling for short. In this case 10 EMA was rising because of higher lows.

Hope that helps. If any more clarification is needed i would love to post them here.
Making money is easy- Just dont take losing trades
  • #33,970
  • Mar 27, 2011 12:33am Mar 27, 2011 12:33am
It could go either way, back in a big area again, looking for some nice PA to lead the way.


That TL running south is from May 13, 2008, next touch Nov 22, 2009.

TL running north is from January 9, 2011, next touch Feb 13, 2011

Wondering if that 200SMA @ 3961 is gonna bounce or break.

HOLLA
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  • #33,971
  • Mar 27, 2011 12:51am Mar 27, 2011 12:51am
Looks like decision time here bounce or break.......

Also wonder if the news (see below) from this weekend will set a trend, only time will tell:

A quarter-million mostly peaceful demonstrators marched through central London on Saturday against the toughest cuts to public spending since World War II, with a small breakaway group smashing its way into a bank, breaking windows and spray painting logos on the walls.

TL running south @ 2007 11 04, 2nd touch at 2008 07 20,

TL running north @ 2010 05 16, 2nd touch @ 2010 12 19,

200SMA @ 1.7090

HOLLA
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  • #33,972
  • Edited 1:54am Mar 27, 2011 1:36am | Edited 1:54am
Quoting Turtle
Looks like decision time here bounce or break.......

Also wonder if the news (see below) from this weekend will set a trend, only time will tell:

A quarter-million mostly peaceful demonstrators marched through central London on Saturday against the toughest cuts to public spending since World War II, with a small breakaway group smashing its way into a bank, breaking windows and spray painting logos on the walls.

TL running south @ 2007 11 04, 2nd touch at 2008 07 20,

TL running north @ 2010 05 16, 2nd touch @...
Just a question about that upper trendline, I have a point running from 2007 11 04 but the second point is at 2008 07 13 which is higher on my chart than 2008 07 20 that also puts us underneath the trendline, are my charts different to yours, or do you draw them differently? The reason I noticed it was because I looked for a bounce from that trendline when it reached it around the beginning of March.

Incidentally this is a fantasic thread.
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  • #33,973
  • Mar 27, 2011 2:06am Mar 27, 2011 2:06am
Good catch, had to readjust mine, thanks alot.

Yea she got me last week because that 1.6000 is pretty huge, so alot of bouncing.

I didn't play the bounce off the TL because of that.

Been in this area since the end of January, something has to give.

HOLLA

Quoting ohammond
Just a question about that upper trendline, I have a point running from 2007 11 04 but the second point is at 2008 07 13 which is higher on my chart than 2008 07 20 that also puts us underneath the trendline, are my charts different to yours, or do you draw them differently? The reason I noticed it was because I looked for a bounce from that trendline when it reached it around the beginning of March.

Incidentally this is a fantasic thread.
  • #33,974
  • Mar 27, 2011 4:28am Mar 27, 2011 4:28am
Quoting Turtle
Good catch, had to readjust mine, thanks alot.

Yea she got me last week because that 1.6000 is pretty huge, so alot of bouncing.

I didn't play the bounce off the TL because of that.

Been in this area since the end of January, something has to give.

HOLLA
She's certainly not been an easy ride at all
  • #33,975
  • Mar 27, 2011 10:36am Mar 27, 2011 10:36am
Quoting Turtle
Good catch, had to readjust mine, thanks alot.

Yea she got me last week because that 1.6000 is pretty huge, so alot of bouncing.

I didn't play the bounce off the TL because of that.

Been in this area since the end of January, something has to give.

HOLLA
I'm with you on those trendlines bro!

Not too much to add that hasn't been shown already. Here's the 1.6000 level Turtle mentioned. 5980 seems to be where the exact support is. My first chart is a weekly showing where the level comes from, and my second is a 4 hour to show how strong it has been almost to the pip! We need to break 5980, and if we do we should head down to the lower trendline around 5800.

Cheers!
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Cap
  • #33,976
  • Mar 27, 2011 3:03pm Mar 27, 2011 3:03pm
Im watching 1.4 on e/u looks like we will gap into it on open, could provide very nice long trades.....
  • #33,977
  • Edited 4:15pm Mar 27, 2011 3:50pm | Edited 4:15pm
Quoting lazyboy
Im watching 1.4 on e/u looks like we will gap into it on open, could provide very nice long trades.....
Thanks for the info lazyboy.

Edit: I was on my way to get dinner, but decided to stay for the gap - you made me some nice cash lazyboy! Much appreciated.
Cap
  • #33,978
  • Mar 27, 2011 8:20pm Mar 27, 2011 8:20pm
Long EU.. 4041. I like what one of my H4's printed off some nice support.

Having four different 4-hour feeds has really helped my trading and I'd highly suggest it.

Here are the 4 feeds I use which have the different 4 hour closes. You can open demo accounts to use the charting.

1. FXPRO
2. MIG or Alpari
3. FXDD
4. ATC or MB Trading

Peace!
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Cap
  • #33,979
  • Mar 27, 2011 9:50pm Mar 27, 2011 9:50pm
Quoting The Captain
Long EU.. 4041. I like what one of my H4's printed off some nice support.
Closed half here at 4066, leaving the rest to ride. See everyone tomorrow.
Cap
  • #33,980
  • Mar 28, 2011 12:53am Mar 28, 2011 12:53am
Quoting The Captain
Closed half here at 4066, leaving the rest to ride. See everyone tomorrow.
Nice one, I wouldnt be supprised if we go to test 1.4 once we have had a sunday gap fill, will watch the 15 min for entries.
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