Trade what you see NOT what you expect | Page 1721 | 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

  • #34,401
  • Apr 25, 2011 11:17am Apr 25, 2011 11:17am
short on the pb to the ma's and the 00 round number.
  • #34,402
  • Apr 26, 2011 2:32pm Apr 26, 2011 2:32pm
Hi, first of all plz forgive my english, Im not a native speaker...

I've been following this thread for the past month, and trying rly hard to understand it, soo far I feel like Im doing ok, alread read the manual 2 times, and Im starting to see the setups in front of me while I spend some screen time, but u guys think its a good idea to read the entire thread (very very intimidating with more than 2k posts ) or the miscellaneous posts will do the trick?? And its ok if I post some graphs (im demo trading obv) with rly rly noob questions??

PS.: I'm rly in luv with this method btw <3

best regards
FF
  • #34,403
  • Apr 26, 2011 4:34pm Apr 26, 2011 4:34pm
Quoting ForexForce
Hi, first of all plz forgive my english, Im not a native speaker...

I've been following this thread for the past month, and trying rly hard to understand it, soo far I feel like Im doing ok, alread read the manual 2 times, and Im starting to see the setups in front of me while I spend some screen time, but u guys think its a good idea to read the entire thread (very very intimidating with more than 2k posts ) or the miscellaneous posts will do the trick?? And its ok if I post some graphs (im demo trading obv) with rly rly noob questions??

PS.:...
If you can't read the whole thread, I would recommend reading ALL the posts of EOhater, Infinity, Pippinole, and Kenneth Lee at the very least, just click on their usernames, and then view posts that will make it much easier to find them. Once you understand the setups then screentime is the next thing you need. That and trying out on a micro account so you are only risking cents. Demo accounts I feel are only good for getting used to the platform you're on, then trade micro and gradually increase as you begin winning more than losing. Just my 2 cents.
  • #34,404
  • Apr 27, 2011 7:22am Apr 27, 2011 7:22am
Quoting ohammond
If you can't read the whole thread, I would recommend reading ALL the posts of EOhater, Infinity, Pippinole,...

tyvm my friend
  • #34,405
  • Apr 27, 2011 9:55am Apr 27, 2011 9:55am
Hi

My first post here

I'm a noob to forex and trading, just finished baby pips school over the last week and this is my first day looking at charts on a Demo account, also working through this thread and the PDF's to try and get my head around this trading style as It will suit my personality/situation best I think.

Anyway what are you guys views on the market currently flirting with the 50EMA on the 15M charts? 15.55GMT.

as its a main concern in intraday trading from what I'm learning...so much info *brain melts*....hehe

Thanks in advance
  • #34,406
  • Apr 27, 2011 8:13pm Apr 27, 2011 8:13pm
EO, Infinity, thanks again. I hope you will keep posting from time to time, I'm reading the whole thread and feel like you are old friends already and it's said to see the thread move so slow!

Price is getting to the top of a channel I drew on my daily and 4 hour charts, it will be interesting to see what happens when it hits the top. I'll be watching for 15m chart PA signaling a possible retracement back to the MAs or down to the .660x area.

Constructive comments/criticism are welcome!

Cory
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  • #34,407
  • Apr 27, 2011 9:35pm Apr 27, 2011 9:35pm
Quoting Cbh123
EO, Infinity, thanks again. I hope you will keep posting from time to time, I'm reading the whole thread and feel like you are old friends already and it's said to see the thread move so slow!

Price is getting to the top of a channel I drew on my daily and 4 hour charts, it will be interesting to see what happens when it hits the top. I'll be watching for 15m chart PA signaling a possible retracement back to the MAs or down to the .660x area.

Constructive comments/criticism are welcome!

Cory
Glad to have you on board. Your channel looks good to me but there seems to be a lot of pressure for longs so be careful if you short and lock in profit early.
Please ask questions and share your experiences with us all!
  • #34,408
  • Apr 27, 2011 9:53pm Apr 27, 2011 9:53pm
I have a pending order at 1.6580 but I doubt we will see that this week but just in case we do...... 1hr and 4hr charts show why I am looking at that area.
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Please ask questions and share your experiences with us all!
  • #34,409
  • Apr 27, 2011 10:01pm Apr 27, 2011 10:01pm
I had a good ride today made a little over 200 pips. This shit is fun when you think you know what you are doing...haha!!
Please ask questions and share your experiences with us all!
  • #34,410
  • Apr 27, 2011 10:23pm Apr 27, 2011 10:23pm
Quoting bkg102665
I had a good ride today made a little over 200 pips. This shit is fun when you think you know what you are doing...haha!!
Nice! I made about 100 on a long on the E/U earlier on a retrace/pin off the 15m 10ema. Thanks for the input, please keep commenting on anything I post so I can learn to see what you guys see and I definitely agree about being careful with shorts right now.

I like your area on G/U and agree that it looks like nice. I didn't notice if you had a fib on your chart but that is also about where the 50% retracement of the last move is, which should help!

Cheers

Cory
  • #34,411
  • Apr 27, 2011 10:30pm Apr 27, 2011 10:30pm
Quoting Cbh123
Nice! I made about 100 on a long on the E/U earlier on a retrace/pin off the 15m 10ema. Thanks for the input, please keep commenting on anything I post so I can learn to see what you guys see and I definitely agree about being careful with shorts right now.

I like your area on G/U and agree that it looks like nice. I didn't notice if you had a fib on your chart but that is also about where the 50% retracement of the last move is, which should help!

Cheers

Cory
I do not use fibs as I could never figure out which fib it may turn on.....but to each his own. You will not find many if any people here that rely on fibs. Good luck and trade well!!
Please ask questions and share your experiences with us all!
  • #34,412
  • Apr 27, 2011 11:33pm Apr 27, 2011 11:33pm
Quoting Cbh123
Nice! I made about 100 on a long on the E/U earlier on a retrace/pin off the 15m 10ema. Thanks for the input, please keep commenting on anything I post so I can learn to see what you guys see and I definitely agree about being careful with shorts right now.

I like your area on G/U and agree that it looks like nice. I didn't notice if you had a fib on your chart but that is also about where the 50% retracement of the last move is, which should help!

Cheers

Cory
Can you post a chart with retrace/pin!
Thanks
  • #34,413
  • Apr 28, 2011 12:14am Apr 28, 2011 12:14am
Quoting rompe
Can you post a chart with retrace/pin!
Thanks
Here you go! I entered on the retrace down the wick so my max drawdown was like 2 pips! (sorry entry was through my broker Oanda so it's not on the chart, but I entered on bar after the arrow) A nice uptrend was starting so I consider this a 1 o' clock (5 o' clock) MA trade. If anyone has an comments feel free!

Cory

Disclaimer: (I am not an expert and just happened to get this one right, and am personally still trading on a tiny account for practice with this method)
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  • #34,414
  • Apr 28, 2011 4:03am Apr 28, 2011 4:03am
Great Method.

New babies should remember we enter trade here as scalper and hold as a swing trader. The maximum stop loss is 35 pips but most entered trade with less than 20 pips and make cool pips.

We also protect as soon as possible. So going to Break even is our daily bread too.

Always remember to use stop loss. A trade without stop loss hoping that the price will reverse is deadly with this system.

Always protect as soon as possible
THE DIFFERENCE BETWEEN GOOD AND EXCELLENT IS ATTENTION TO DETAILS.
  • #34,415
  • Apr 28, 2011 10:09am Apr 28, 2011 10:09am
Quoting ejiexe
Trade what you see NOT what you expect.
Quoting bkg102665
I like to trade with some type of game plan in mind when I start my day and I like to share my thoughts to see if others are seeing the same thing.I gave a reason for why I think it will go down but asked no one to jump in a trade based of what I think.
As I too got called on what seems to be a semantic infraction, I wanted to reiterate what bkg’s response was to the same issue. As we are studying price action, we identify strategic areas of S/R on all TF’s and it should come as no surprise when price responds to these areas. This is when we look to SEE what the candles tell us as to how it’s responding and when we SEE the setup, we KNOW there is a high probability of what is going to happen. Again, it’s about having a plan and not being surprised when price action takes place.
I’ll try to keep any reference to my THINKING to a minimum. . . I guess I also need to get better at posting charts to back up what I SEE.
(Hope I didn't use any wrong words here)
Consistency separates luck from Skill
  • #34,416
  • Apr 28, 2011 2:12pm Apr 28, 2011 2:12pm
Quoting wingnut
As I too got called on what seems to be a semantic infraction, I wanted to reiterate what bkg’s response was to the same issue. As we are studying price action, we identify strategic areas of S/R on all TF’s and it should come as no surprise when price responds to these areas. This is when we look to SEE what the candles tell us as to how it’s responding and when we SEE the setup, we KNOW there is a high probability of what is going to happen. Again, it’s about having a plan and not being surprised when price action takes place....
Hi Wingnut, I just wanted to let you know I appreciated your original post. I'm sure Ejiexe meant well, but that type of post quoting the name of the thread really isn't helpful in my opinion. He could have just asked for clarification of what and why you were thinking or asked for a chart instead.

If you read the thread (I'm about 500 pages in myself) you'll see there are countless times that EO, Infinity, and other experienced traders mention areas they are looking for price action at before the price gets there thinking they are possible areas price could change directions. This isn't "trading what you expect", but doing your research to know which areas price action signals are most likely to be successful.

Thanks to everyone who contributes and posts trades so we all can learn together!

I hope everyone is having a good week trading.

Cory
  • #34,417
  • Edited 2:58am Apr 29, 2011 2:38am | Edited 2:58am
Quoting Cbh123
Hi Wingnut, I just wanted to let you know I appreciated your original post. I'm sure Ejiexe meant well, but that type of post quoting the name of the thread really isn't helpful in my opinion. He could have just asked for clarification of what and why you were thinking or asked for a chart instead.

If you read the thread (I'm about 500 pages in myself) you'll see there are countless times that EO, Infinity, and other experienced traders mention areas they are looking for price action at before the price gets there thinking they are possible areas...
I quite appreciate your comment. Yes it is true that everybody has an area in mind before placing a trade but a categorically statement like price will reach a level today and move to this level tomorrow is what we are discouraging as much as possible in this thread. It is very easy to be bais with market. It has happen to me several times when I will say a price will reached this level b4 it moves on and never did. For instance, I was in a trade of 50 pips on EU yesterday and move to BE and still have the believe that it is going to hit my profit level and what happen next before I came back from a call was to hit me out at BE. what I am saying in essence is that if I was to be on sit I would have closed base on "What I see and not what I expect. So if we have a level in mind we either use PO for trade like 1h 62ema or wait for DBHLC/DBLHC and pull the trigger with HTF in mind. there are other setup we watch too. We don't have control on where the price will move to but we can control ourself to follow it when it is ready. I hope you understand the message I am trying to pass.
THE DIFFERENCE BETWEEN GOOD AND EXCELLENT IS ATTENTION TO DETAILS.
  • #34,418
  • Apr 29, 2011 9:43am Apr 29, 2011 9:43am
Is when you have a pending order at 6621 to go long because of the confluence of numerous support touches and the 62 ema on the hourly lined up and you go and give the missus a massage and come back to notice your order missed by 3 pips and price runs up some 50 pips.

Tough break but anyone else get on it at all
  • #34,419
  • Edited 8:09am May 1, 2011 6:18am | Edited 8:09am
This is my last 18th week trade.
As you see I'm new in this forum and not long with FX also!
Coments please.
Horizontal line 1.4837 and 1.4855 are just bought and TP lines, others are different S/R
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  • #34,420
  • May 1, 2011 8:07am May 1, 2011 8:07am
  •  Jey
  • | Joined Jun 2009 | Status: Market Slave-Overworked/Underpipped | 283 Posts
Hey guys, new to the thread. Reporting in to learn sir!!!!
I have seen the enemy, and it is me.
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