Trade what you see NOT what you expect | Page 1723 | 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

  • #34,441
  • May 10, 2011 8:34pm May 10, 2011 8:34pm
tag
  • #34,442
  • May 11, 2011 12:53am May 11, 2011 12:53am
Tag. Still reading the PDF and Thread before posting
  • #34,443
  • May 13, 2011 8:18am May 13, 2011 8:18am
Well another 35/50 cross which coincide with news release, but I took it though.
+35
My entry was bit delayed because of "my slip of the pen" - I pressed sell button instead of buy.....
(tp and sl was inputed so server rejected my order)

How about 35/50 cross circled magenta earlier today??
Didn't took it because wasn't "working" at that moment, beside it is not a short wick. But EO says...................



Comments appreciate!
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  • #34,444
  • May 14, 2011 2:08am May 14, 2011 2:08am
You have taken that trade as a textbook example; Well Done.
As I'm new to this thread and am working my way through this methodology I am struggling to see if there was a trade in your "Mageta box". Isn't the first candle in the box the setup bar which failed as it does not have a "short wick"?
Am I correct in then taking the next candle as an entry position to go long? Sure, I know this looks good with hindsight but is this the way this should be traded?
Comments will be appreciated.
  • #34,445
  • May 14, 2011 3:11am May 14, 2011 3:11am
Someone sent me a pm asking me to post my templates with S/R that I use, I will do that but please bear in mind I look at the 5min for entries on bounces.

I have attached 2 templates, the one I use for 5 and 15min and the HTF one for 1hr and above. I use the ma indicator that was posted on this thread further back written for this system as I find it very useful when I have to switch from 5 to 15min and vice versa as it keeps the ma's in the right place without having to change anything, likewise if I have to switch from 4hr to daily etc it keeps the right ma's I should be looking at on that time frame. Posted all the indicators as well.

The trading sessions indicator I have on there just alerts me to market open times, I had it changed so that it shows all of them and puts the lines on the chart a few bars before the open of a new session just so that I am aware of the time you may have to change the GMT offset so that they line up properly.

On the smaller time frame template I also have Recent SR from Hanover as mentioned a few pages back I have the same settings as the Captain for that, I will find the post so you can set it up yourselves.

Hope someone finds it useful.
Attached File(s)
File Type: tpl eohater.tpl   80 KB | 489 downloads
File Type: tpl eohaterhtf.tpl   3 KB | 409 downloads
File Type: ex4 FXGuru_EOMAs.ex4   18 KB | 403 downloads
File Type: ex4 AutoPivotIndicator_ver5.ex4   32 KB | 354 downloads
File Type: ex4 CandleTime THV.ex4   3 KB | 328 downloads
File Type: mq4 Trading Session vLines.mq4   10 KB | 390 downloads
File Type: mq4 Trading Session vLines2.mq4   10 KB | 368 downloads
  • #34,446
  • May 14, 2011 3:53am May 14, 2011 3:53am
The Recent SR indicator by Hanover is excellent, I have attached it here with the presets file for the less computer literate of us. The settings in the presets file can be changed to suit if you want to, but I recommend going to Hanovers thread on it and reading his descriptions. http://www.forexfactory.com/showthread.php?t=204276 I have attached the indi to this post (experts/indicators) and the presets file which has to go into experts/files.
Attached File(s)
File Type: ex4 Recent SR.ex4   44 KB | 390 downloads
File Type: txt Presets---Recent SR.txt   < 1 KB | 359 downloads
  • #34,447
  • Edited 9:46am May 14, 2011 8:16am | Edited 9:46am
Quoting Hammo
You have taken that trade as a textbook example; Well Done.
As I'm new to this thread and am working my way through this methodology I am struggling to see if there was a trade in your "Mageta box". Isn't the first candle in the box the setup bar which failed as it does not have a "short wick"?
Am I correct in then taking the next candle as an entry position to go long? Sure, I know this looks good with hindsight but is this the way this should be traded?
Comments will be appreciated.
I would even say I am far from an expert of this trading method!

As EO says always look on higher tf charts!
According with post #391 on this thread you may go long on next candle, but EO use PO because of not knowing where price will go. So if you went long on the next candle it would be some kind EO's PA 35/50 cross derivative! But higher timeframes says.............
I quoted post #391 where EO answers on post #389 which is with attachment.
  • #34,448
  • May 15, 2011 4:23am May 15, 2011 4:23am
Thanks rompe for your explanation.
I think I now understand this alternate strategy and look forward to watching future 35/50 breakouts this week to make sure I'm on the right wavelength before adding this to my trading arsenal and going live with them. I only trade the EU & because of my time zone concentrate on the Euro/London open.
  • #34,449
  • May 22, 2011 8:56pm May 22, 2011 8:56pm
Quoting bkg102665
Where is everyone? Captain I know you are out there somewhere!!
Been MIA for a bit, took a couple of losses a week ago, trying to fight the trend, it was a losing battle.

Went short on EU Friday @ 4207, s/l @ 4267. Let's see how she rolls.

HOLLA
  • #34,450
  • May 23, 2011 4:29pm May 23, 2011 4:29pm
Quoting Turtle
Been MIA for a bit, took a couple of losses a week ago, trying to fight the trend, it was a losing battle.

Went short on EU Friday @ 4207, s/l @ 4267. Let's see how she rolls.

HOLLA
Looks like that worked out well! I still have those days where I think I can change the trend myself and turn it around. It sure makes life a lot easier to go with the trend on a pullback though.
Please ask questions and share your experiences with us all!
  • #34,451
  • May 23, 2011 5:36pm May 23, 2011 5:36pm
This is a USD light forex chart that shows the dollar has gotten stronger and now it has closed above a trend line that goes back to November 2010. I suspect we will see this go back and check the top side of this trendline and who knows from there. If the trndline holds I would be looking for it to reach the red horizontal line at the 1.6477 area.
Attached Image (click to enlarge)
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Please ask questions and share your experiences with us all!
  • #34,452
  • May 23, 2011 5:40pm May 23, 2011 5:40pm
Quoting bkg102665
This is a USD light forex chart that shows the dollar has gotten stronger and now it has closed above a trend line that goes back to November 2010. I suspect we will see this go back and check the top side of this trendline and who knows from there. If the trndline holds I would be looking for it to reach the red horizontal line at the 1.6477 area.
I know this has nothing to do with what we study and use in this thread but just wanted to show that the dollar is showing some strength and seems to have just crossed a area of interst for me. If it helps you use it
Please ask questions and share your experiences with us all!
  • #34,453
  • May 25, 2011 11:14am May 25, 2011 11:14am
Hey dudes,

How's the trading going? Turtle and BKG still holding down the fort - great to see. I hope I will be back trading soon.
Cap
  • #34,454
  • Jun 5, 2011 6:30pm Jun 5, 2011 6:30pm
Hope everyone is doing well, market has been crazy.

Seems like everyone is waiting to see which country will fall first: US or Europe?????

On Tuesday Ben will shed some light and then Thursday my man Jean-Claude will fill in the blanks, make sure your stops are in place.

HOLLA
  • #34,455
  • Jun 8, 2011 5:19am Jun 8, 2011 5:19am
Dear friends:
Could you please tell me 50 SMA or 50EMA, i am confused about that.in the EO's pdf, it suggested 5ema 10ema 20ema 35sma and 50ema , but it seems many friends use 50sma.
Could you please help me to make ti clear.
Regards
I need time ,I need money, I need more patience
  • #34,456
  • Jun 8, 2011 6:47am Jun 8, 2011 6:47am
You know, sometimes I get bored and wander around the forum having a look at different "systems" try a few, but I always come back to this way of trading because there is simply nothing out there to compare it to. It's one of the very few threads on FF that are worth studying from start to finish and once mastered you can trade in any market conditions.
  • #34,457
  • Jun 8, 2011 6:47am Jun 8, 2011 6:47am
Quoting ztdep
Dear friends:
Could you please tell me 50 SMA or 50EMA, i am confused about that.in the EO's pdf, it suggested 5ema 10ema 20ema 35sma and 50ema , but it seems many friends use 50sma.
Could you please help me to make ti clear.
Regards
I use both.
  • #34,458
  • Jun 8, 2011 1:29pm Jun 8, 2011 1:29pm
Traded the range most of today, this is what I meant about being able to trade when other "systems" have to stay out, I think somewhere I saw EOhater called it gumping.

Didn't want to get greedy so took profit at 15 pips each time which is about half the range. Stop loss was 10 pips +spread above the top line and 10 pips below the bottom line. 6 x 15 = 90 pips no losses. I stopped where I did because the last trade got pretty close to my stop loss and it hadn't gone back down to the bottom line for the second time, so didn't look good for more sells, plus the old saying don't drink from the well too many times
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  • #34,459
  • Jun 9, 2011 9:21pm Jun 9, 2011 9:21pm
Quoting ohammond
You know, sometimes I get bored and wander around the forum having a look at different "systems" try a few, but I always come back to this way of trading because there is simply nothing out there to compare it to. It's one of the very few threads on FF that are worth studying from start to finish and once mastered you can trade in any market conditions.

That's why EO is the master!!

HOLLA
  • #34,460
  • Jun 13, 2011 6:30am Jun 13, 2011 6:30am
Dear friends:
I wait many hours for the EUR/USD to break out the range. Now it break the high. but what is my entry point? Need i to wait for the retrace?
Could you please help me to point out the entry point in the consolidation period.
thank you very much
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I need time ,I need money, I need more patience
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