Trade what you see NOT what you expect | Page 1716 | Forex Factory

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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

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Trade what you see NOT what you expect

  • #34,301
  • Apr 15, 2011 7:01am Apr 15, 2011 7:01am
can someone please put up a 15 min chart. left a pending order before heading out but dont have access to charting software here. cheers

BTW where price is now it depends on whether it retraced enough to put me in. Thanks

RT
  • #34,302
  • Apr 15, 2011 7:07am Apr 15, 2011 7:07am
Quoting Razor_trader
can someone please put up a 15 min chart. left a pending order before heading out but dont have access to charting software here. cheers

BTW where price is now it depends on whether it retraced enough to put me in. Thanks

RT
Ummm...what pair?
Ghost Rider - WWTBMD?
  • #34,303
  • Apr 15, 2011 7:14am Apr 15, 2011 7:14am
Quoting Trotty
That's what we like to call.......a flipping agressive entry!!

I don't have the balls for that sort of entry, like a pair of plumbs slow baked for 4 hours.

As captain Blackadder was told when facing the firing squad, sir, I have to admire you balls"......"yeeees, perhaps later"


Well, I have lost 10 pips on that trade.

I need to see more clearly the difference between what is considered aggressive and what is considered save.

I guess that with time and practice I will.

Thanks for your comments.
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  • #34,304
  • Apr 15, 2011 7:20am Apr 15, 2011 7:20am
Quoting Haydel
Hi, I'm learning how to trade and this thread has been very valuable on the process. All your comments are really appreciated.

I took this EUR/USD LONG a few minutes ago on the bounce on a H4 PPA after a long M15 fall.

May be I should have waited for more confirmation as the manual suggests.

What do you think? What else would you be looking for as confirmation to enter LONG?...
10 pips is a very tight sl, especially if you take a trade off the 4h.
  • #34,305
  • Apr 15, 2011 8:07am Apr 15, 2011 8:07am
Quoting AnonYmos
10 pips is a very tight sl, especially if you take a trade off the 4h.
Acctually the trade was taken on the M15 chart.

Is the PPA line, where the price bounced, the one that was drawn on the H4 chart.
  • #34,306
  • Apr 15, 2011 8:18am Apr 15, 2011 8:18am
Quoting albchr
Ummm...what pair?
Sorry EUR/USD my bad
  • #34,307
  • Apr 15, 2011 8:56am Apr 15, 2011 8:56am
Quoting Razor_trader
Sorry EUR/USD my bad
Doesn't have EO's MA's but....
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Ghost Rider - WWTBMD?
  • #34,308
  • Apr 15, 2011 10:12am Apr 15, 2011 10:12am
Quoting cisco
We could fill the library of congress with the things a young pup like you doesn't know!
I've had a few Mrs. R's in my day who thought they would teach a young lad a few tricks, and they ended up leaving the next day feeling like a forex trader who just found the holy grail system! :

Here's to a good weekend for everyone. Couldn't trade today but there was a wicked Temptress setup at 4400 off the lower 4 hour TL and H1 200's that hopefully some people got. Perfect textbook trade!!

Cheers
Cap
  • #34,309
  • Edited 9:59pm Apr 15, 2011 7:28pm | Edited 9:59pm
Quoting albchr
Doesn't have EO's MA's but....
Thanks for that. You know when you finish a day you need to finish a day. big mistake leaving a pending order in play without watching the market dynamics. Firstly the location of the order was sound and relevant at the time however it was missed in the initial pullback by 1 pip which meant it missed. It then went on to hit my profit target by just 2 pips before reversing and taking out my SL by 2 pips (on the way it collected my still pending order). Such tight areas would be avoided in short term trading by being available to the fluctuations. There was opportunties to get into the trade and make some decisions to protect the position looking for the break of the lows which didnt happen but the position could have been protected had I been available.

It is a reason why I seldom set and forget short term trades and even long term I am looking at the entry reasons and not just leaving a pending order in play just to have a potential trade. Tough break by that trade by the closest of executions and failures did hit me hard, and not just money wise (which I will get over) but the failure to follow the guidelines and be available hurt more so. Leason learnt time to move on to next week.

take care

RT
  • #34,310
  • Apr 16, 2011 11:42pm Apr 16, 2011 11:42pm
thank you eohater

i have started reading your thread today, excited to go through the entire thread.


Regards
.Hawk.
  • #34,311
  • Apr 17, 2011 6:18am Apr 17, 2011 6:18am
I just found this thready via some posts in the rookie forum. I found it really interesting as some fellow contributors from this thread seem to be doing really well, and I would like to learn this approach too.

My question is really, has anything changed about this system from the beginning? Or is the information on the first post including attachements enough to give me an idea of what is involved?

For someone new to the system would you recommend I only trade certain setups outlined in the pdf or read, understand and get testing?

Also does everyone just trade the 4 pairs or are there more?

Sorry just looking for some advice on how to get started.
  • #34,312
  • Apr 17, 2011 6:27am Apr 17, 2011 6:27am
Quoting PipRiderFX
I just found this thready via some posts in the rookie forum. I found it really interesting as some fellow contributors from this thread seem to be doing really well, and I would like to learn this approach too.

My question is really, has anything changed about this system from the beginning? Or is the information on the first post including attachements enough to give me an idea of what is involved?

For someone new to the system would you recommend I only trade certain setups outlined in the pdf or read, understand and get testing?

Also does...

Follow the info on post one exactly. Nothing has changed.
Ghost Rider - WWTBMD?
  • #34,313
  • Apr 17, 2011 9:53am Apr 17, 2011 9:53am
Quoting albchr
Follow the info on post one exactly. Nothing has changed.
Hi Chris,
welcome back. I have seen you have reanimated your thread.

I'm really not sure how many traders are still following the orginal rules. Who is still paying attention to the 35 pip range? Who still cares about if the price is above or below the the 1 hr 10 sma? Who is trading the 35/50 cross and reverse trade with a 35 pip sl...

I have the feeling that the most people have adapted the method to their own preferences.
  • #34,314
  • Apr 17, 2011 9:57am Apr 17, 2011 9:57am
Quoting MCFly
Hi Chris,
welcome back. I have seen you have reanimated your thread.

I'm really not sure how many traders are still following the orginal rules. Who is still paying attention to the 35 pip range? Who still cares about if the price is above or below the the 1 hr 10 sma? Who is trading the 35/50 cross and reverse trade with a 35 pip sl...

I have the feeling that the most people have adapted the method to their own preferences.
Hey buddy, thanks.

True, but one has to learn the "method" before they can adapt it to thier own needs. No?

Good to see you still here man.
Ghost Rider - WWTBMD?
  • #34,315
  • Apr 17, 2011 10:12am Apr 17, 2011 10:12am
Quoting albchr
Hey buddy, thanks.

True, but one has to learn the "method" before they can adapt it to thier own needs. No?

Good to see you still here man.
Hey Chris fire your skype up.
  • #34,316
  • Apr 17, 2011 10:16am Apr 17, 2011 10:16am
Quoting MCFly
Hey Chris fire your skype up.
Don't have it on my new laptop dude and I'm about to go out riding.

Only have a couple days before getting back in the truck...lol
Ghost Rider - WWTBMD?
  • #34,317
  • Apr 17, 2011 10:24am Apr 17, 2011 10:24am
Quoting albchr
Don't have it on my new laptop dude and I'm about to go out riding.

Only have a couple days before getting back in the truck...lol
k I see you will be on the road again. Greetings to "Bandit" (When you have seen the move...).

Why don't you take the laptop with you and trade a bit while you're driving the truck. lol
  • #34,318
  • Apr 18, 2011 1:47am Apr 18, 2011 1:47am
Hello all.

Just an area to watch on AU, I like the look of this as either a scalping opportunity or turning point.

The fib level is one from a few potential fibs you could draw on the up swing, not the strongest as a result of that doubt but I think it's still a strong area.
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  • #34,319
  • Apr 18, 2011 1:55am Apr 18, 2011 1:55am
Quoting MCFly
Hi Chris,
welcome back. I have seen you have reanimated your thread.

I'm really not sure how many traders are still following the orginal rules. Who is still paying attention to the 35 pip range? Who still cares about if the price is above or below the the 1 hr 10 sma? Who is trading the 35/50 cross and reverse trade with a 35 pip sl...

I have the feeling that the most people have adapted the method to their own preferences.
Tend to agree McFly.

I would love to get EO's perspective on whether he still thinks that some of the setups are valid or work the way that they once did. I never trade the 35/50 cross trades and only have a fraction of the original moving averages on my charts, just the ones that i've migrated to over time. I am even thinking of getting rid of the 35 these days as I can barely recall the last time I used it in any meaningful way.

The thread is more than about the mas though. It's about learning to use timeframes together in harmony, how to know when it's right to scalp and when to hold (my own achilies heel still) and about the intimate detail of price action. I'm no longer sure how much value new traders will get from reading the PDF alone.
  • #34,320
  • Apr 18, 2011 3:37am Apr 18, 2011 3:37am
Quoting MCFly
Hi Chris,
welcome back. I have seen you have reanimated your thread.

I'm really not sure how many traders are still following the orginal rules. Who is still paying attention to the 35 pip range? Who still cares about if the price is above or below the the 1 hr 10 sma? Who is trading the 35/50 cross and reverse trade with a 35 pip sl...

I have the feeling that the most people have adapted the method to their own preferences.
Hey MCFly, good to see you around.

I see what you are saying, however I disagree slightly. EO has not given us a "system" per say, but what he has done is taught us "how" to trade. What you mention, such as the 35/50 cross is just one entry possibility of so many, and the 35 pip range is just a reference. However I do believe most still use the 1hour 62 trade. But again, these are just a few special setups.

Because this trading method is exactly that, a method, not a system, it is very subjective. It is not a "ma cross, macD going up - buy" system and therefore no 2 people will trade it the same way.

I have said it before - EO has given us the tools he uses, as well as great knowledge, it is up to us to interpret it to work for us. What works for some may not work for others, and while you seem to think everyone using their own style is a negative thing, I feel it is great. I'm sure even EO and Infinity never traded everything exactly the same.

The fact is that if someone mentions they took a 35/50 cross trade, or a bounce off an MA, we know exactly what they are talking about. So we must learn the knowledge EO and Infinity have dedicated so much valuable time into sharing, in order to devise our own method.

Peace
Cap
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