Trade what you see NOT what you expect | Page 1729 | 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

  • #34,561
  • Feb 2, 2012 10:15am Feb 2, 2012 10:15am
Quoting cisco
Supply and demand??? Give me a break! You're in the wrong thread with that junk. Go see Ken's thread and drink some of his kool-aid.
Why so hostile

What's wrong with the supply area? How you call it then? Resistance? Better?
  • #34,562
  • Feb 2, 2012 11:04am Feb 2, 2012 11:04am
Quoting 1pipperhour
Why so hostile

What's wrong with the supply area? How you call it then? Resistance? Better?
No hostility here, bro. Just a bit of loyalty to Eo, et al.

Over the years we've had a lot of fun joking and kidding with each other but when it came to trading we pretty much talked about EO's methodology. In my personal trading I do thing differently sometimes than EO did, but in here I try to give deference to EO's methods. After all, he started this thread.

Just one more thing along those lines. There's a lot of people on this forum espousing methodologies that contain the holy grail. That's fine and dandy, but a lot of them fail miserably in their own trading. They can talk the talk but they can't walk the walk. Another way to put that would be...those who can, do. Those who can't, teach.

I know many of the traders on here personally. Traders like EO, Pippi, and Infinity to name a few. They definitely can.
Hi, my name is Barry and you can keep your doctor...
  • #34,563
  • Feb 2, 2012 11:17am Feb 2, 2012 11:17am
Quoting cisco
No hostility here, bro. Just a bit of loyalty to Eo, et al.

Over the years we've had a lot of fun joking and kidding with each other but when it came to trading we pretty much talked about EO's methodology. In my personal trading I do thing differently sometimes than EO did, but in here I try to give deference to EO's methods. After all, he started this thread.

Just one more thing along those lines. There's a lot of people on this forum espousing methodologies that contain the holy grail. That's fine and dandy, but a lot of them fail miserably...
I can respect that. No problem.

But it's just if you see something is wrong, just say how is right, don't send anybody to anywhere or this thread will never wake up from the dead.
  • #34,564
  • Feb 2, 2012 2:09pm Feb 2, 2012 2:09pm
Quoting cisco
No hostility here, bro. Just a bit of loyalty to Eo, et al.

Over the years we've had a lot of fun joking and kidding with each other but when it came to trading we pretty much talked about EO's methodology. In my personal trading I do thing differently sometimes than EO did, but in here I try to give deference to EO's methods. After all, he started this thread.

Just one more thing along those lines. There's a lot of people on this forum espousing methodologies that contain the holy grail. That's fine and dandy, but a lot of them fail miserably...

I'd echo that, having read the whole thread and absorbed the wealth of knowledge that these guys gave us on these pages.

That's also the problem that i've had in posting charts up. I want to play my part in keeping this thing going but as much as I learned so much from this thread, i've also learnt some things elsewhere that have helped my trading in a big way. Finding clean setups along EO's methodology alone isn't always that easy (primarily because VSA is almost always a consideration when I trade).

I will do my best though, this thread deserves to keep going.....
  • #34,565
  • Feb 3, 2012 12:52am Feb 3, 2012 12:52am
Quoting Trotty
I'd echo that, having read the whole thread and absorbed the wealth of knowledge that these guys gave us on these pages.

That's also the problem that i've had in posting charts up. I want to play my part in keeping this thing going but as much as I learned so much from this thread, i've also learnt some things elsewhere that have helped my trading in a big way. Finding clean setups along EO's methodology alone isn't always that easy (primarily because VSA is almost always a consideration when I trade).

I will do my best though, this thread...
  • #34,566
  • Feb 3, 2012 2:46am Feb 3, 2012 2:46am
Quoting cisco
No hostility here, bro. Just a bit of loyalty to Eo, et al.

Over the years we've had a lot of fun joking and kidding with each other but when it came to trading we pretty much talked about EO's methodology. In my personal trading I do thing differently sometimes than EO did, but in here I try to give deference to EO's methods. After all, he started this thread.

Just one more thing along those lines. There's a lot of people on this forum espousing methodologies that contain the holy grail. That's fine and dandy, but a lot of them fail miserably...

OK let do it again and again with EO method to keep the thread going. We can as well help new babies
THE DIFFERENCE BETWEEN GOOD AND EXCELLENT IS ATTENTION TO DETAILS.
  • #34,567
  • Feb 25, 2012 6:36pm Feb 25, 2012 6:36pm
Quoting cisco

I know many of the traders on here personally. Traders like EO, Pippi, and Infinity to name a few. They definitely can.


HOLLA
  • #34,568
  • Feb 26, 2012 1:01pm Feb 26, 2012 1:01pm
Quoting cisco
No hostility here, bro. Just a bit of loyalty to Eo, et al.

Over the years we've had a lot of fun joking and kidding with each other but when it came to trading we pretty much talked about EO's methodology. In my personal trading I do thing differently sometimes than EO did, but in here I try to give deference to EO's methods. After all, he started this thread.

Just one more thing along those lines. There's a lot of people on this forum espousing methodologies that contain the holy grail. That's fine and dandy, but a lot of them fail miserably...
I'm not sure I should be mentioned in the same sentence as those two great traders. Remember I'm still just trading a demo account!
  • #34,569
  • Feb 26, 2012 4:54pm Feb 26, 2012 4:54pm
Quoting PippiNole
I'm not sure I should be mentioned in the same sentence as those two great traders. Remember I'm still just trading a demo account!

Most of the alledged big players on here do that to, atleast your honest.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #34,570
  • Feb 27, 2012 4:40am Feb 27, 2012 4:40am
Quoting Turveyd
Most of the alledged big players on here do that to, atleast your honest.
So true
  • #34,571
  • Feb 27, 2012 4:44am Feb 27, 2012 4:44am
Quoting BenScoobert
So true
It is true but I do think Pippinole was joking
  • #34,572
  • Feb 27, 2012 7:48am Feb 27, 2012 7:48am
Quoting ohammond
It is true but I do think Pippinole was joking
You are very correct! I guess I should have used this instead of this when I posted.
  • #34,573
  • Feb 27, 2012 8:38am Feb 27, 2012 8:38am
Quoting PippiNole
You are very correct! I guess I should have used this instead of this when I posted.
Then I'll use this one
  • #34,574
  • Feb 27, 2012 1:26pm Feb 27, 2012 1:26pm
Quoting BenScoobert
Then I'll use this one
Instead of this one use this one and you might figure it out!
  • #34,575
  • Mar 1, 2012 11:31pm Mar 1, 2012 11:31pm
Folks are coming out the WOODWORK.

Haven't seen this much action since the last decade!


WAAAZZZZZZZUUUUPPPPP!!!!!

I sure like this one Pippi.

HOLLA
  • #34,576
  • Mar 1, 2012 11:33pm Mar 1, 2012 11:33pm
Quoting PippiNole
I'm not sure I should be mentioned in the same sentence as those two great traders. Remember I'm still just trading a demo account!
Love that classic line.

HOLLA
  • #34,577
  • Mar 6, 2012 3:56am Mar 6, 2012 3:56am
Hello all. I'm just in the process of re-reading the entire thread (on about page 550 at the moment!) and I must admit that I'm finding more gems on the second read. To fully appreciate EO's method you really need to immerse yourself in the thread.

I read it the first time a couple of years ago, and got involved a bit then, but in my quest for the holy grail I then looked at other threads and tried other methods but now found myself drawn back to Eo's method.

I'm not someone that posts a lot on forums, but to anyone out there struggling right now I'd say read and re-read the thread (yes, I know it's long, but it's worth it), be patient and disciplined- define your entries and exits and don't interfere with them (my problem!). Anyway enough talk here's a chart:
Attached Image (click to enlarge)
Click to Enlarge Name: gbp15m.gif Size: 37 KB
There is no top. There are always further heights to reach. Jascha Heifetz
  • #34,578
  • Edited 5:17am Mar 6, 2012 4:26am | Edited 5:17am
Quoting Trader131
Hello all. I'm just in the process of re-reading the entire thread (on about page 550 at the moment!) and I must admit that I'm finding more gems on the second read. To fully appreciate EO's method you really need to immerse yourself in the thread.

I read it the first time a couple of years ago, and got involved a bit then, but in my quest for the holy grail I then looked at other threads and tried other methods but now found myself drawn back to Eo's method.
A familiar tale and one which mirrors exactly what I did.

I think some of the problem with this thread is that EO never really intended for it to be a system for new starters. He's a very advanced trader with the ability to understand when to take scalping profit and when to hold a trade and manage it off the longer term timeframes, despite having a tight entry off the M15 charts. That is such a skill and his understanding of market structure is light years ahead of the rest of us (apart from one or two people on the thread) so it's folly for us to try and keep up.

Initially, the thread confused me as much as it excited me. It is an overwhelming experience and probably one of the most complete guides to trading you can find on any forum or blog. If you want to get anything out of it, you have to start to understand that just because a setup might look like something that these guys would have taken, it doesn't always mean that it is. Unless there was supporting reasons off the longer term TFs or a key area involved, they will leave many setups that look great on first impressions. Learning that is so key.

Like trading as a general rule, so many will try and follow this way of trading and fail terribly but the few that study hard and wrap their head around it, they will be the few % who are richly, richly rewarded.


Btw, to complement the learning...and I have said this over and over in this forum, get yourself a good simulator with real historical data. I got one that cost £100 and it's without doubt the best money I have ever spent in my whole life. It's so much better than trying to back-test on historical charts it's barely worth comparing the two. Do it!

Great trade pal.

I leave you with this:

I young man in his early 20's went into a bar at the weekend in Liverpool and bought £200,00 worth of drink, it's being touted as the biggest single bill ever. Job? Forex Trader. It CAN be done!
  • #34,579
  • Mar 6, 2012 5:12am Mar 6, 2012 5:12am
Hello Trotty. Great post. I agree with you, that this is advanced trading, and not for everyone.

Personally, I still struggle with my exits, for example todays trade was a great entry, but I took profit too soon. I should have left some soldiers on the battlefield as EO would say! The bigger picture was backing up my 15 min entry- Bearish weekly pin(sort of) and price had stalled under the 1hr 62 ema after retracing 50% of the downmove. An absolute classic textbook trade! I hope my issues of bailing too soon will improve as I gain more confidence that the setups do work. Thanks for the tip about a simulator, I 'll look into it.
There is no top. There are always further heights to reach. Jascha Heifetz
  • #34,580
  • Mar 6, 2012 7:20am Mar 6, 2012 7:20am
Quoting Trader131
Hello Trotty. Great post. I agree with you, that this is advanced trading, and not for everyone.

Personally, I still struggle with my exits, for example todays trade was a great entry, but I took profit too soon. I should have left some soldiers on the battlefield as EO would say! The bigger picture was backing up my 15 min entry- Bearish weekly pin(sort of) and price had stalled under the 1hr 62 ema after retracing 50% of the downmove. An absolute classic textbook trade! I hope my issues of bailing too soon will improve as I gain more confidence...
Exits are a big issue when you move away from trading silly systems with defined stops and take profits. Once you begin trading price action setups, you then are at the mercy of your own judgement if you don't have a strict trade management approach.

Some Ideas. Target your next obvious area of support/resistance for your ultimate TP, maybe taking a portion of your position off at 1:1 or at your first potential problem area.

Take profit 1 at 1:1 and then trail your stop up with each closed positive candle. In strong moves, you can catch a good number of the pips that way. In ranges, you'll have a lot of 1:0.5 trades.

Trail TP2 up/down with every swing. This is what I tend to do a lot now. Wait for a swing to form and for price to continue in my direction and then move the stop up to the high/low of that swing. I will always have an ultimate TP in mind that I think price will take a reversal at, though. If it doesn't reverse where you think, use some of your profit to find a good re-entry spot.

Ultimately, we need to reach a point where our reading of the market is so sharp that we will let price action take our trades out as we re-enter in the opposite direction. Even then, we may actually find we are so hot that we are hedging our longs by scalping shorts but keeping the longs on for further moves and visa versa.

Always let your higher timeframe charts/market sentiment be the deciding factors of whther you look for a quick profit or to hold your positions.

I've long felt that the holy grail is not about finding entries, it's about knowing how to manage trades to extract as many pips as possible from them. It's a great skill.
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