Trade what you see NOT what you expect | Page 1769 | 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

  • #35,361
  • Apr 3, 2012 6:30am Apr 3, 2012 6:30am
Quoting Trader131
Yes, you're probably right. Stopped out on Aussie +8 with that spike through the 10ma. looks like she might go lower without me now
And there you have it..
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There is no top. There are always further heights to reach. Jascha Heifetz
  • #35,362
  • Apr 3, 2012 7:24am Apr 3, 2012 7:24am
Quoting Trader131
And there you have it..
Sucks when that happens, maybe the last swing high a better place to move the stop to? I just jumped back on the EU short at 13314.7 already banked half and stop is at b/e
  • #35,363
  • Apr 3, 2012 7:47am Apr 3, 2012 7:47am
Quoting lazyboy
Sucks when that happens, maybe the last swing high a better place to move the stop to? I just jumped back on the EU short at 13314.7 already banked half and stop is at b/e
Yes, you're right. The reason I kept tightening my stop was because Euro and cable were not moving with Aussie and I was prepared for it to go north and it's in my psyche that I don't like wide stops.

This is one of the areas where I struggle with EO's method, as he advocated stops 25 pips above/below the wick on a pin and 35 on an inverted hangman if I remember right on cable- which is fine if you can consistently have higher take profit areas, but I struggle leaving a first take profit to 20 in the current markets.As you've seen from my charts, I often get it spot on when to take profit, but that's more often than not between 10-20 pips, but am then more comfortable to let the trade breathe. Whether I'm shooting myself in the foot here, I'm not sure, it depends on my win ratio, but I prefer tighter stops where possible.

Talking of which, Lazyboy. You're stops are pretty tight too!
There is no top. There are always further heights to reach. Jascha Heifetz
  • #35,364
  • Apr 3, 2012 7:59am Apr 3, 2012 7:59am
That 4 hour candle closing on Aussie right now has me looking for a long entry.
There is no top. There are always further heights to reach. Jascha Heifetz
  • #35,365
  • Apr 3, 2012 8:38am Apr 3, 2012 8:38am
Quoting Trader131
Yes, you're right. The reason I kept tightening my stop was because Euro and cable were not moving with Aussie and I was prepared for it to go north and it's in my psyche that I don't like wide stops.

This is one of the areas where I struggle with EO's method, as he advocated stops 25 pips above/below the wick on a pin and 35 on an inverted hangman if I remember right on cable- which is fine if you can consistently have higher take profit areas, but I struggle leaving a first take profit to 20 in the current markets.As you've seen from my charts,...
Thats exactly the way I think too, hence my stops are tight! I like to try and get in as tight as possible and once I have taken some off the table mentally its easier for me to leave a wider stop and walk away and let it ride ( hopefully ) to a bigger target.

The current markets sure ain't the same these days. Seems like much more compression before volatile moves. All we can do is keep at it and use the higher timeframes as a guide and try to make sure we are on the train when it leaves the station!

What I have found recently is that I get a lot of small wins / losses and b/e trades then a few really nice winners. I guess thats due to a fairly defensive style of trading. Have you found this?
  • #35,366
  • Apr 3, 2012 8:42am Apr 3, 2012 8:42am
Also just looked at A/U depending on what times / feed you use its just filled the sunday gap, there was a nice m15 pin to get long off down there. What do you think, I'm not trading A/U but looked good to me.
  • #35,367
  • Apr 3, 2012 8:56am Apr 3, 2012 8:56am
"What I have found recently is that I get a lot of small wins / losses and b/e trades then a few really nice winners. I guess thats due to a fairly defensive style of trading. Have you found this?"

Yes, exactly. It's just then a matter of finding the best balance ie when to take most of your position off at TP1 vs say, just a third looking for a longer run, and this is by nature intuitive.
There is no top. There are always further heights to reach. Jascha Heifetz
  • #35,368
  • Apr 3, 2012 8:58am Apr 3, 2012 8:58am
Don't see a 15 min pin on Aussie, but have just entered at 70 off the trendline
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There is no top. There are always further heights to reach. Jascha Heifetz
  • #35,369
  • Apr 3, 2012 9:02am Apr 3, 2012 9:02am
It was about 5 pips off filling the gap on my feed, but close enough!
There is no top. There are always further heights to reach. Jascha Heifetz
  • #35,370
  • Apr 3, 2012 9:07am Apr 3, 2012 9:07am
Quoting Trader131
Don't see a 15 min pin on Aussie, but have just entered at 70 off the trendline
I was referring to the 3rd candle to the right of the low, red body. Nice entry off the t/l
  • #35,371
  • Apr 3, 2012 9:09am Apr 3, 2012 9:09am
Taking 1/2 off at 12 pips as we're at minor resistance and countertrend
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There is no top. There are always further heights to reach. Jascha Heifetz
  • #35,372
  • Apr 3, 2012 9:11am Apr 3, 2012 9:11am
SL to -4 (66) just below recent lows
There is no top. There are always further heights to reach. Jascha Heifetz
  • #35,373
  • Apr 3, 2012 9:17am Apr 3, 2012 9:17am
Stopped- another small win
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There is no top. There are always further heights to reach. Jascha Heifetz
  • #35,374
  • Apr 3, 2012 9:53am Apr 3, 2012 9:53am
Quoting Trader131
Stopped- another small win
Just gone short EU here at 38...small stop again.
  • #35,375
  • Apr 3, 2012 10:00am Apr 3, 2012 10:00am
Just got back from schoolrun, and see I missed this one on Euro. Lovely 15min pin double bottom off trendline was good up to the higher trendline
Attached Image (click to enlarge)
Click to Enlarge Name: euro15min.gif Size: 22 KB
There is no top. There are always further heights to reach. Jascha Heifetz
  • #35,376
  • Apr 3, 2012 10:03am Apr 3, 2012 10:03am
Quoting Trader131
Just got back from schoolrun, and see I missed this one on Euro. Lovely 15min pin double bottom off trendline was good up to the higher trendline
I was waiting for a retest of that pin....never got it!
  • #35,377
  • Apr 3, 2012 10:04am Apr 3, 2012 10:04am
That's me done for today. Good luck with the euro short!
There is no top. There are always further heights to reach. Jascha Heifetz
  • #35,378
  • Apr 3, 2012 10:09am Apr 3, 2012 10:09am
Quoting Trader131
That's me done for today. Good luck with the euro short!
Cheers
  • #35,379
  • Apr 3, 2012 1:16pm Apr 3, 2012 1:16pm
Quoting egkid
Best option to me Aud/u to sell any up move
1.0233 will b touch this week

The real dilemma to me , U know aud/u and e/u high correlated pair
so how come aud go down and e/u go up!!
any way will go get some sleep have work early
Catch u on Monday bro
I sell [email protected] , 1.0445
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  • #35,380
  • Apr 3, 2012 5:35pm Apr 3, 2012 5:35pm
Quoting egkid
I sell [email protected] , 1.0445
Attachment

http://www.youtube.com/watch?v=tnUalOWhQCQ
So did I...sh-t been up there since early Asia...

Took a nice profit, left a runner.

Makes up for the AUDUSD that blew me out of the water on Sunday...

Let's see how she rolls.......


HOLLA
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