Trade what you see NOT what you expect | Page 1776 | 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

  • #35,501
  • Apr 24, 2012 7:30am Apr 24, 2012 7:30am
Quoting ForexForce
missed the re-entry, waiting for PA to show me some entry
I got stopped out on my last quarter to the pip on that news spike, so I'm on the sidelines too. We may go a higher with the markets as they are v. bullish now even though gbp is weak, if dollar is weaker cable will rise.
There is no top. There are always further heights to reach. Jascha Heifetz
  • #35,502
  • Apr 24, 2012 7:48am Apr 24, 2012 7:48am
Quoting Trader131
I got stopped out on my last quarter to the pip on that news spike, so I'm on the sidelines too. We may go a higher with the markets as they are v. bullish now even though gbp is weak, if dollar is weaker cable will rise.
Trader131, what's ur thoughts on using m5 to filter enters?
  • #35,503
  • Apr 24, 2012 7:52am Apr 24, 2012 7:52am
Something to watch. Attached are weekly and daily charts.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gu weekly.jpg Size: 76 KB
Click to Enlarge Name: gu daily.jpg Size: 75 KB
  • #35,504
  • Apr 24, 2012 8:34am Apr 24, 2012 8:34am
This chart need public review please help
Attached Image (click to enlarge)
Click to Enlarge Name: trade__001.png Size: 53 KB
  • #35,505
  • Apr 24, 2012 8:49am Apr 24, 2012 8:49am
Quoting ForexForce
Trader131, what's ur thoughts on using m5 to filter enters?
I've tried m5 charts (and 1m!), personally I find them unnecessary and overcomplicating, as entries can be pretty much pip perfect "in the wick" on 15min but it's all horses for courses, and they may suit you. We all have different traits as traders, and half the battle is finding what works for you and sticking to it!
There is no top. There are always further heights to reach. Jascha Heifetz
  • #35,506
  • Apr 24, 2012 8:58am Apr 24, 2012 8:58am
Quoting japfx
This chart need public review please help
I don't trade gold, but see the pinbar at a decent level- my only concern is that ir broke and it's not bouncing, and like earlier on cable, when PA shows something like that and then it doesn't happen after a reasonable time somethings wrong, and it could be a trap. Just make sure you manage your risk.
There is no top. There are always further heights to reach. Jascha Heifetz
  • #35,507
  • Apr 24, 2012 9:18am Apr 24, 2012 9:18am
Here's an aussie short I took a few pips out of- it was a 1hr 62ema /50sma bounce. Sorry for not posting it live, but it's pretty hard to post charts with multiple trades on (and also look after two young boys back from school!).

I only spotted it after the initial push through the 15min 248ema (orange dashed line-1hr62) and a doji had formed. I entered in the following bar, closed half above the figure at 10 pips and have just closed the rest now ahead of the 50ema/35sma for 18 pips. Look to the left of the chart for more reasons why it was a good entry.
Attached Image (click to enlarge)
Click to Enlarge Name: aussie15min.gif Size: 23 KB
There is no top. There are always further heights to reach. Jascha Heifetz
  • #35,508
  • Edited 1:11pm Apr 24, 2012 11:12am | Edited 1:11pm
Took the retracement trade to the 15M 10/21/35/50. It also had broken through the TL and retested it from the bottom.

Exited 1/2 at + 10 and have a target of the Daily S1 for the rest. Not sure if this 1.0280 area will break as there is some support to the left.

UPDATE: Exited the other 1/2 @ 1.0283 when it couldn't break the 80 level.

http://my.jetscreenshot.com/demo/m_2...-xpqf-76kb.jpg
  • #35,509
  • Apr 24, 2012 1:56pm Apr 24, 2012 1:56pm
Quoting DharmaTrader
Took the retracement trade to the 15M 10/21/35/50. It also had broken through the TL and retested it from the bottom.

Exited 1/2 at + 10 and have a target of the Daily S1 for the rest. Not sure if this 1.0280 area will break as there is some support to the left.

UPDATE: Exited the other 1/2 @ 1.0283 when it couldn't break the 80 level.

http://my.jetscreenshot.com/demo/m_2...-xpqf-76kb.jpg
Well managed, Dharma
There is no top. There are always further heights to reach. Jascha Heifetz
  • #35,510
  • Apr 24, 2012 11:17pm Apr 24, 2012 11:17pm
Morning all,

It's a big news day today, but here's something to look out for. Cable's looking tired up here on daily and 4hr. Of course if we have another risk on, dollar weakness day, then it's going nowhere, but if it becomes risk off, this could be a good short
Attached Image(s) (click to enlarge)
Click to Enlarge Name: cabledaily.gif Size: 25 KB
Click to Enlarge Name: cable4hr.gif Size: 20 KB
There is no top. There are always further heights to reach. Jascha Heifetz
  • #35,511
  • Apr 25, 2012 12:08am Apr 25, 2012 12:08am
Quoting Trader131
Morning all,

It's a big news day today, but here's something to look out for. Cable's looking tired up here on daily and 4hr. Of course if we have another risk on, dollar weakness day, then it's going nowhere, but if it becomes risk off, this could be a good short
Morning mate. Yep, seems a fair bit of weakness appearing on cable now but the weekly still has a fairly bullish look to it. The weekly close did suggest that we could see a retrace this week though as it closed around the resistance area.

Looks like LO is pusing her up for now but it's such a big news day today that we may not want to hold our biases too dear....
  • #35,512
  • Apr 25, 2012 1:00am Apr 25, 2012 1:00am
Quoting Trotty
Morning mate. Yep, seems a fair bit of weakness appearing on cable now but the weekly still has a fairly bullish look to it. The weekly close did suggest that we could see a retrace this week though as it closed around the resistance area.

Looks like LO is pusing her up for now but it's such a big news day today that we may not want to hold our biases too dear....
Yes, anything could happen today. I've just got back from the school run, and had left a pending order on cable at 62 with a 10 pip stop. Didn't expect it to get hit so quickly! I've taken 2/3 off at 15 pips and will keep my stop at 72 as we may see another test of the highs but that was a pretty strong rejection
Attached Image (click to enlarge)
Click to Enlarge Name: cable15min.gif Size: 22 KB
There is no top. There are always further heights to reach. Jascha Heifetz
  • #35,513
  • Apr 25, 2012 1:03am Apr 25, 2012 1:03am
Cable is going to be wild today I think. GBP GDP in 28mins
There is no top. There are always further heights to reach. Jascha Heifetz
  • #35,514
  • Apr 25, 2012 1:16am Apr 25, 2012 1:16am
Closed last 1/3 for 24 pips here at Daily pivot- not a time for holding cable
Attached Image (click to enlarge)
Click to Enlarge Name: cable15min.gif Size: 22 KB
There is no top. There are always further heights to reach. Jascha Heifetz
  • #35,515
  • Apr 25, 2012 1:37am Apr 25, 2012 1:37am
OK, bad news for GBP, we're officially back in a recession, and I'm so regretting cutting that last short! Oh well, just have to wait for another entry. 1hr chart below - note where she stalled from the fall.
Attached Image (click to enlarge)
Click to Enlarge Name: cable1hr.gif Size: 22 KB
There is no top. There are always further heights to reach. Jascha Heifetz
  • #35,516
  • Apr 25, 2012 1:51am Apr 25, 2012 1:51am
It just goes to show, the signs were there that we were heading for a fall much earlier- it was all in the charts. But it's difficult on big news days, and dangerous like Trotty says to have a bias, because you never really know anything for certain. As a general rule, it's better to avoid news unless you're well established in a trade.
There is no top. There are always further heights to reach. Jascha Heifetz
  • #35,517
  • Apr 25, 2012 2:03am Apr 25, 2012 2:03am
Quoting Trader131
It just goes to show, the signs were there that we were heading for a fall much earlier- it was all in the charts. But it's difficult on big news days, and dangerous like Trotty says to have a bias, because you never really know anything for certain. As a general rule, it's better to avoid news unless you're well established in a trade.
As soon as I heard about the news, I was certain she'd fall but there was no entry to be had with a risk that I was happy with.

Oh recession, how i've missed you so
  • #35,518
  • Apr 25, 2012 2:10am Apr 25, 2012 2:10am
Hey, thanks, Kodziro for the vouch! Have one in return! and also to all my favourite traders on here!
There is no top. There are always further heights to reach. Jascha Heifetz
  • #35,519
  • Apr 25, 2012 2:22am Apr 25, 2012 2:22am
Yes, we're in a right mess here in the UK, Trotty. This could be the start of a major correction on cable. Unfortunately there's more big news later from over the pond, so it might be tricky building any longer term positions with all that volatility till later.
There is no top. There are always further heights to reach. Jascha Heifetz
  • #35,520
  • Apr 25, 2012 2:23am Apr 25, 2012 2:23am
Quoting Trader131
Hey, thanks, Kodziro for the vouch! Have one in return! and also to all my favourite traders on here!
Thanks buddy, you have vouching rights

If you get the chance, have a look through Kodziro's old posts and charts if you haven't already. He's a very adept and experienced trader with some very smart and clever approaches to trading the market (all still with the spirit of this thread at the core). I learnt a lot from him.
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