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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

  • #35,081
  • Mar 22, 2012 11:53am Mar 22, 2012 11:53am
Quoting Trotty
Took a little trade on GU, might not make sense to many on here but it's in profit. It was after the IB on H4 (my charts) printed.
What time do your 4HR candles closes?

Mines closes in 8 mins.

HOLLA
  • #35,082
  • Mar 22, 2012 11:55am Mar 22, 2012 11:55am
Quoting Turtle
What time do your 4HR candles closes?

Mines closes in 8 mins.

HOLLA
I use 3 different feeds actually, because there's volume in my trading and I like to get a cross broker view on it. One closes 3 hours, the others in 2.
  • #35,083
  • Mar 22, 2012 11:57am Mar 22, 2012 11:57am
Quoting Trotty
I'm not in it, it didn't get high enough and is now falling. Annoying but that's life.

I believe he is speaking, I still don't know who the hell he is though!

I will post the setup when I get a break fellas
  • #35,084
  • Mar 22, 2012 12:06pm Mar 22, 2012 12:06pm
Quoting Trotty
I use 3 different feeds actually, because there's volume in my trading and I like to get a cross broker view on it. One closes 3 hours, the others in 2.
Thanks, mines close at 5pm, 9pm, 1am, etc, etc.

I kinda like it that way because it closes the same time as my daily. I use to have charts that closed at 4pm, 8pm, 12am, etc, etc, but it seemed to confuse me at times.

Sidenote: went short around 3196 and closed out with some profit, good trading people. Time for lunch.

HOLLA
  • #35,085
  • Mar 22, 2012 12:16pm Mar 22, 2012 12:16pm
Sure Kodziro would explain this a helluva lot better than me.

You can look at this similarly to a mini version of a H+S the same sort of principles apply.

So the background is important. Ideally, you need a sharp move followed by an IB to display the weakness in the market. Then if there is a candle that breaches the high of the wicks but closes against the immediate momentum under the wicks (changes colour) then you have your setup. It's a classic sort of false breakout trade but if you took them all without the right background, you'll get burned. The right entry after that is to wait for price to test the highs of the wicks from the move before the Fake break and then trade away (black line on my chart).

You could also say this is similar in principle to the EO Hater "shorting up the wick of the pin" type trade. It's a great setup but I wanted to play by the rules so I could get my tight stop. Obviously catching the initial bounce is always best but this is a good way to get back in quite safely.
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  • #35,086
  • Mar 22, 2012 12:30pm Mar 22, 2012 12:30pm
Quoting Trotty
Sure Kodziro would explain this a helluva lot better than me.

You can look at this similarly to a mini version of a H+S the same sort of principles apply.

So the background is important. Ideally, you need a sharp move followed by an IB to display the weakness in the market. Then if there is a candle that breaches the high of the wicks but closes against the immediate momentum under the wicks (changes colour) then you have your setup. It's a classic sort of false breakout trade but if you took them all without the right background, you'll get...
Great explaination Trotty.

I got in a little earlier, but was using my 100 Hr MA and 100 bar MA on 15M as my stoploss area. If I would of seen a close above that level, I was looking to go long for some pips.

HOLLA
  • #35,087
  • Mar 22, 2012 12:39pm Mar 22, 2012 12:39pm
Quoting Trotty
Sure Kodziro would explain this a helluva lot better than me.

You can look at this similarly to a mini version of a H+S the same sort of principles apply.

So the background is important. Ideally, you need a sharp move followed by an IB to display the weakness in the market. Then if there is a candle that breaches the high of the wicks but closes against the immediate momentum under the wicks (changes colour) then you have your setup. It's a classic sort of false breakout trade but if you took them all without the right background, you'll get...
Thanks for the explanation, Trotty. I though it was some sort of fake inside bar break and reverse signal when you mentioned it.

I think you were looking for a perfect setup, expecting price to touch your black line, when in reality they rarely are. I'd have taken that "up the wick" like EO. I've also drawn a trendline of my own from the highs of the inside bars which would have given a pip perfect entry
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There is no top. There are always further heights to reach. Jascha Heifetz
  • #35,088
  • Mar 22, 2012 12:51pm Mar 22, 2012 12:51pm
Just re-read that last line that I wrote, and it sounds a bit arrogant or patronising- that's not what I meant- I'm just sounding out ideas- looking to improve- sometimes things come across wrong!
There is no top. There are always further heights to reach. Jascha Heifetz
  • #35,089
  • Mar 22, 2012 12:58pm Mar 22, 2012 12:58pm
Nice explanation Trotty! pretty much what happened to me this am on EU very similar setup.
  • #35,090
  • Mar 22, 2012 2:47pm Mar 22, 2012 2:47pm
Quoting Trader131
Just re-read that last line that I wrote, and it sounds a bit arrogant or patronising- that's not what I meant- I'm just sounding out ideas- looking to improve- sometimes things come across wrong!

Thanks fellas.

I didn't take it that way at all, I was nodding along whilst I was reading it. Don't panic! The only reason why I was waiting was just to get a tighter stop but of course, we should be vigilant and agile and if it clearly looks like it won't make it there, better to have a larger stop and a trade than no trade at all.

As has been said, we're all here to share thoughts, ideas and opinions. Never be worried about speaking your mind
  • #35,091
  • Mar 22, 2012 3:17pm Mar 22, 2012 3:17pm
Quoting Trotty
Thanks fellas.

I didn't take it that way at all, I was nodding along whilst I was reading it. Don't panic! The only reason why I was waiting was just to get a tighter stop but of course, we should be vigilant and agile and if it clearly looks like it won't make it there, better to have a larger stop and a trade than no trade at all.

As has been said, we're all here to share thoughts, ideas and opinions. Never be worried about speaking your mind
Great, glad you didn't take it the wrong way! We're all in this together to learn and improve, and bouncing ideas around can be really useful. But sometimes, when posting quickly things can come out wrong

Just been watching the Apprentice- in their speak we'd be "brainstorming". "Alright Trader131, shut up, I've had enough of your excuses, you're fired!"
There is no top. There are always further heights to reach. Jascha Heifetz
  • #35,092
  • Mar 22, 2012 3:21pm Mar 22, 2012 3:21pm
Hey Captain, when you next check in. Thanks for the vouch! I am humbled by all of you here.
There is no top. There are always further heights to reach. Jascha Heifetz
  • #35,093
  • Mar 22, 2012 4:23pm Mar 22, 2012 4:23pm
Well finally taken out at break even on that EU short, it came 2 pips off my TP1 so I moved my stop as I was hoping to be able to have just half running overnight, didn't want to risk any more. Not sure it was the right thing to do and not really my plan originally. We will see. Have a good one guys if your on the Asian session 
  • #35,094
  • Mar 23, 2012 1:34am Mar 23, 2012 1:34am
Morning guys, not much to go on so far, still looking short on EU I think, will see if and entry is on m15
  • #35,095
  • Mar 23, 2012 1:42am Mar 23, 2012 1:42am
Morning Lazyboy, looking for shorts, but that long bottom wick on yesterday's daily close concerns me. Euro has retraced to the 61 fib (so far) whilst cable barely made it to the 50 fib of yesterday's move, so cable may be the weaker today
There is no top. There are always further heights to reach. Jascha Heifetz
  • #35,096
  • Mar 23, 2012 1:59am Mar 23, 2012 1:59am
Eurusd 1 hr closing soon is also a concern for shorts- that trendline that we tested from above is the neckline of the h & s
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There is no top. There are always further heights to reach. Jascha Heifetz
  • #35,097
  • Mar 23, 2012 2:29am Mar 23, 2012 2:29am
Looks it was right to be cautious for shorts. Should have gone long from that 1hr pin off the neckline, but can't hedge with my broker. That last short soldier from yesterday has stopped out on that spike now though
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There is no top. There are always further heights to reach. Jascha Heifetz
  • #35,098
  • Mar 23, 2012 2:36am Mar 23, 2012 2:36am
Quoting Trader131
Looks it was right to be cautious for shorts. Should have gone long from that 1hr pin off the neckline, but can't hedge with my broker. That last short soldier from yesterday has stopped out on that spike now though
Missed that, just got to work. Short @ 41 stop 52.

Edit, TP1 at 215.
  • #35,099
  • Mar 23, 2012 2:45am Mar 23, 2012 2:45am
Quoting Trader131
Great, glad you didn't take it the wrong way! We're all in this together to learn and improve, and bouncing ideas around can be really useful. But sometimes, when posting quickly things can come out wrong

Just been watching the Apprentice- in their speak we'd be "brainstorming". "Alright Trader131, shut up, I've had enough of your excuses, you're fired!"


Morning chaps. Beautiful morning here in Manchester, my good lady walked the dog so I got to start the day with a run in the sun. Spring is most certainly here
  • #35,100
  • Mar 23, 2012 2:47am Mar 23, 2012 2:47am
Quoting Trotty


Morning chaps. Beautiful morning here in Manchester, my good lady walked the dog so I got to start the day with a run in the sun. Spring is most certainly here
Lovely, looking like its going to be a belter here as well
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