Trade what you see NOT what you expect | Page 1783 | 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

  • #35,641
  • May 16, 2012 4:35am May 16, 2012 4:35am
Quoting Trader131
Hey Trotty, don't worry about not contributing to the thread- we all know you are a staunch supporter of the thread and it's ethos. Work has to come first, but hopefully there will be a time when trading can come first! I'm busy too at the moment rehearsing Wagner operas- they are ridiculously long and demanding (this one's 5 1/2 hours!) - my arm feels like it's going to fall off! We've got the dress rehearsal today. There must be a better way to earn a living...

Ahh but there is, we just need to make sure the time is right to make the final leap

Good luck with the show, that sounds pretty demanding. I won't ever pretend my job is especially physically or mentally demanding but it does zap the hours out of your day something terrible.

The pound is taking a beating right now. Jobless figures fell as well. Even with this swift action, it still gave you a chance to short up the wick of the M15 pin on GU......
  • #35,642
  • May 16, 2012 4:59am May 16, 2012 4:59am
I didn't take it, Trotty, not risking the news, but the PA was perfect- I hope you took it!

I'm looking for longs on eurusd and aussie, watching 15 min pa for an entry. I know it's countertrend, and the whole world is short right now, but we're overdue a correction,and in a prime place. I just have to be careful to trade what I see not what I expect. Not sure I'll get an entry before I have go to work, and with everthing so volatile I'm not happy leaving anything open at the moment. So will probably sit it out.
There is no top. There are always further heights to reach. Jascha Heifetz
  • #35,643
  • May 16, 2012 5:08am May 16, 2012 5:08am
Quoting Trader131
I didn't take it, Trotty, not risking the news, but the PA was perfect- I hope you took it!

I'm looking for longs on eurusd and aussie, watching 15 min pa for an entry. I know it's countertrend, and the whole world is short right now, but we're overdue a correction,and in a prime place. I just have to be careful to trade what I see not what I expect. Not sure I'll get an entry before I have go to work, and with everthing so volatile I'm not happy leaving anything open at the moment. So will probably sit it out.
No, I didn't take it for the same reasons but as EO always said, he doesn't pay much attention to the fundies as price action is reliable regardless of them.
  • #35,644
  • May 16, 2012 5:24am May 16, 2012 5:24am
Ok it took a cheeky long- on eurusd based on 15min pa. Didn't want to post the entry as it was countertrend, and not perfect PA. I drew these channel lines, entry was after the small doji closed at the bottom of the channel at 01 and took 1st profit at the channel top at 18. SL now moved up to 92, so net green pips if I'm stopped
Attached Image (click to enlarge)
Click to Enlarge Name: eur15min.gif Size: 21 KB
There is no top. There are always further heights to reach. Jascha Heifetz
  • #35,645
  • May 16, 2012 5:30am May 16, 2012 5:30am
And I'll add to that trade that I probably would not have taken it had we not already closed above the 50ma's on the 15 min with that first retrace (showing some strength- HH). There was round no. support as well. So enough confluence for me.
There is no top. There are always further heights to reach. Jascha Heifetz
  • #35,646
  • May 16, 2012 5:47am May 16, 2012 5:47am
Last 15 min close was not good for my long, so tightening my SL to +4 05 below last green candle
Attached Image (click to enlarge)
Click to Enlarge Name: eur15min.gif Size: 21 KB
There is no top. There are always further heights to reach. Jascha Heifetz
  • #35,647
  • May 16, 2012 6:21am May 16, 2012 6:21am
Missed my stop by a whisker, and showing signs of support here, so I'm redrawing new channel lines now, as the previous one was a very tight scalping channel that I knew wouldn't last long, and they give my trade new boundaries ie the stop is just below channel bottom
Attached Image (click to enlarge)
Click to Enlarge Name: eur15min.gif Size: 20 KB
There is no top. There are always further heights to reach. Jascha Heifetz
  • #35,648
  • May 16, 2012 6:32am May 16, 2012 6:32am
Taken 1/4 off here +25 as sp500 touching top of 4 hourly channel, and previous resistance
Attached Image (click to enlarge)
Click to Enlarge Name: eur15min.gif Size: 20 KB
There is no top. There are always further heights to reach. Jascha Heifetz
  • #35,649
  • May 16, 2012 6:47am May 16, 2012 6:47am
Ok, off to work now. It would be nice to come back and still be in this one!
There is no top. There are always further heights to reach. Jascha Heifetz
  • #35,650
  • May 16, 2012 9:04am May 16, 2012 9:04am
Quoting Trader131
And thanks for the tip on scaling, Captain. I'd never thought about that before- but to clarify I think you mean adjust the scale to 100-150 pips on 15mins otherwise it's like a superzoom!
100-150 for the total scale yes. I was talking about the amount of pips between each line on the right hand side of the chart. Glad you find the scaling useful!
Cap
  • #35,651
  • May 16, 2012 9:08am May 16, 2012 9:08am
Quoting Trader131
Ok, off to work now. It would be nice to come back and still be in this one!
Nice work, looking ok at the minute....

Hey Captain!
  • #35,652
  • May 16, 2012 10:40am May 16, 2012 10:40am
Quoting Trotty
Nice work, looking ok at the minute....

Hey Captain!
Hey Trotty!

How's the trading going? Last time we chatted you were hoping to go full time soon.
Cap
  • #35,653
  • May 16, 2012 10:51am May 16, 2012 10:51am
Quoting The Captain
Hey Trotty!

How's the trading going? Last time we chatted you were hoping to go full time soon.
Hey bud. Slow at the minute! I found a decent balance in the end where I freelance and work from home a fair bit but haven't been at home nearly as much recently as in the past. It allowed me to trade pretty frequently at first but I started to find that the more busy I got with work, the more I began to trade poorly so I cut down the trading. I am doing much more H4 trading at the minute whilst I try and hone my M15 skills a little more to be able to execute better with less screen time (basically how EO traded).

I have absolutely no doubt at all that FT trading will come in the fullness of time but i'm going to try and do it in a step process. I will maybe start with 5/6 days trading FT a month and the rest on contract work and then just gradually phase out the contract work. The thing is, i'm not sure that trading alone will ever totally satisfy me so I would probably always run some sort of business on the side, just to have another interest/income stream.

How about you, how's the M1 trading treating you mate?
  • #35,654
  • May 16, 2012 11:30am May 16, 2012 11:30am
Quoting Trotty
Hey bud. Slow at the minute! I found a decent balance in the end where I freelance and work from home a fair bit but haven't been at home nearly as much recently as in the past. It allowed me to trade pretty frequently at first but I started to find that the more busy I got with work, the more I began to trade poorly so I cut down the trading. I am doing much more H4 trading at the minute whilst I try and hone my M15 skills a little more to be able to execute better with less screen time (basically how EO traded).

I have absolutely no doubt...

Good stuff! I have no doubt either that you will get there. I myself have the same aspirations, and as soon as my contract is over with my current job I will hopefully be joining you.

The M1 has been treating me well. I have always said that EO has given us the tools, we must learn our own craft. For me, the M1 and M5 are better options due to only being able to trade futures in the evening. I still look at all timefes and take setups off the 15 as well. All the same principles apply. The MA's are respected beautifully, still use higher time frame S&R, the works. The idea that the m1 is just noise is completely false.

I've been reluctant to post charts as I don't want to mess with EO's baby. Although I could probably hide the timeframe and say its the 15 minute.. haha.
Cap
  • #35,655
  • May 16, 2012 3:17pm May 16, 2012 3:17pm
mmm just got back, and see I've just been stopped out +4 on Euro. I could have taken 50+ on the last part of my long, but wasn't around, and can't trail stops. Oh well, that's the way it goes sometimes..
Attached Image (click to enlarge)
Click to Enlarge Name: eur15min.gif Size: 22 KB
There is no top. There are always further heights to reach. Jascha Heifetz
  • #35,656
  • May 17, 2012 4:03am May 17, 2012 4:03am
Quoting Trader131
mmm just got back, and see I've just been stopped out +4 on Euro. I could have taken 50+ on the last part of my long, but wasn't around, and can't trail stops. Oh well, that's the way it goes sometimes..
Yep this longs been a pig!
  • #35,657
  • May 17, 2012 6:48am May 17, 2012 6:48am
I know the bulls have all gone! Watching to see how cable reacts to daily 200
There is no top. There are always further heights to reach. Jascha Heifetz
  • #35,658
  • May 17, 2012 7:09am May 17, 2012 7:09am
Took a long on Aussie at 02 after the pinbar on15min at previous lows. Not much time to post today. Covered 1/2 +14
Attached Image (click to enlarge)
Click to Enlarge Name: aussie15min.gif Size: 25 KB
There is no top. There are always further heights to reach. Jascha Heifetz
  • #35,659
  • May 17, 2012 8:11am May 17, 2012 8:11am
Looking good- another 1/4 off at here +28. SL to +12 (14)
Attached Image (click to enlarge)
Click to Enlarge Name: aussie15min.gif Size: 26 KB
There is no top. There are always further heights to reach. Jascha Heifetz
  • #35,660
  • May 18, 2012 3:48am May 18, 2012 3:48am
Mornng all. Man, these markets just keep on falling. Seems to be totally panicked right now. Anyway I'm trying to ignore all the noise, as it's the time to buy when things seem at their worst, but are we there yet? Euro 1hr and daily charts below
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eur1hr.gif Size: 21 KB
Click to Enlarge Name: eurdaily.gif Size: 29 KB
There is no top. There are always further heights to reach. Jascha Heifetz
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