Trade what you see NOT what you expect | Page 1789 | 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

  • #35,761
  • May 24, 2012 7:56am May 24, 2012 7:56am
Forgot chart
Attached Image (click to enlarge)
Click to Enlarge Name: eur15min1st tp.gif Size: 23 KB
There is no top. There are always further heights to reach. Jascha Heifetz
  • #35,762
  • May 24, 2012 7:58am May 24, 2012 7:58am
Quoting Trotty
Yep, i've been through most of that at certain stages as well. It's all part of the development curve I believe.

If I have one criticism of a lot of "gurus", particularly the ones who hover around forums, is that they almost forget the difficulties that they had and that everyone has starting out. They often seem to suggest that by just doing x, y and z that they will get similar results to them. A simple factor such as rarely getting at least 1:1 R/R on trades because you're taking profit too easy can kill your progress dead.

My biggest problem...
Great post, Trotty. I'll try and digest some of that -you talk a lot of sense!
There is no top. There are always further heights to reach. Jascha Heifetz
  • #35,763
  • May 24, 2012 8:02am May 24, 2012 8:02am
WASSSSUUUPPPP???

Hope everyone is doing well.

HOLLA
  • #35,764
  • May 24, 2012 8:04am May 24, 2012 8:04am
That was quick- 2nd TP 2615. +56
Attached Image (click to enlarge)
Click to Enlarge Name: eur15min2ndtp.gif Size: 23 KB
There is no top. There are always further heights to reach. Jascha Heifetz
  • #35,765
  • May 24, 2012 8:10am May 24, 2012 8:10am
Hey Turtle. Good to hear you! Hope all's well. Looks like I caught the top of that spike! SL to +5 now on Euro- Aussies doing well too. A good morning's trading for me. If I can just slay my demons I'll do fine.
There is no top. There are always further heights to reach. Jascha Heifetz
  • #35,766
  • May 24, 2012 8:17am May 24, 2012 8:17am
Managed much trading around the DJing recently Turtle?
There is no top. There are always further heights to reach. Jascha Heifetz
  • #35,767
  • May 24, 2012 8:31am May 24, 2012 8:31am
Quoting Trader131
Hey Turtle. Good to hear you! Hope all's well. Looks like I caught the top of that spike! SL to +5 now on Euro- Aussies doing well too. A good morning's trading for me. If I can just slay my demons I'll do fine.
Looks like your doing well, glad to hear it.

HOLLA
  • #35,768
  • May 24, 2012 8:35am May 24, 2012 8:35am
Quoting Trader131
Great post, Trotty. I'll try and digest some of that -you talk a lot of sense!
Shucks, thanks man. Just letting it all out of my system, as I said before, I have a habbit of wittering!!

Quoting Turtle
WASSSSUUUPPPP???

Hope everyone is doing well.

HOLLA
Ahhh, a leeser spotted Turtle. How are you man?
  • #35,769
  • May 24, 2012 8:47am May 24, 2012 8:47am
Took a short on the AU here at 94. H1 hangman failed to close above the H1 previous pin and a nice 15M pin.

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Click to Enlarge Name: AUEntry2012-05-24_07-17.jpg Size: 174 KB


Covered 1/2 here at 80, S/L at 9504, so a B/E trade now. Will adjust stop depending on upcoming PA.

Attached Image
  • #35,770
  • May 24, 2012 8:49am May 24, 2012 8:49am
Quoting Trotty
Shucks, thanks man. Just letting it all out of my system, as I said before, I have a habbit of wittering!!



Ahhh, a leeser spotted Turtle. How are you man?

Doing good, been doing slot of thinking these last couple of weeks and getting things in order.

How's eveerything with you?

HOLLA
  • #35,771
  • May 24, 2012 8:50am May 24, 2012 8:50am
Nice one, Dharma! I thought about closing my long when I saw that pin, but it's only a small position left on, so I've just moved my stop to below the 50ma's +15 which I'm quite happy to take.
There is no top. There are always further heights to reach. Jascha Heifetz
  • #35,772
  • May 24, 2012 8:54am May 24, 2012 8:54am
Quoting Trader131
DBLHC on both 15min charts of euro and cable. I took a long with a tight SL! (as hourly chart still bearish) after the news when price retraced down to the previous 2 bars lows and started turning back up and has now formed a TBLHC! Missed screenshot after I entered, as price moved up quickly but my entry was at 59, and first TP at 79 (screenshot below). SL is at 53 just onder the TBLHC.
131,

I was looking at this at the time but wasn't sure how to "know" when/if I should enter. Price is sort of hanging in midair, it's broken below the MAs which indicates downward movement. Is the DBLHC and the failure of the 3rd candle to go below the low all you need to take this entry?

Attached Image
  • #35,773
  • May 24, 2012 8:56am May 24, 2012 8:56am
Quoting Trader131
Nice one, Dharma! I thought about closing my long when I saw that pin, but it's only a small position left on, so I've just moved my stop to below the 50ma's +15 which I'm quite happy to take.
Thanks. I've moved my stop to +9 on my remaining 1/2 and just above the current large bearish candle.
  • #35,774
  • May 24, 2012 8:59am May 24, 2012 8:59am
Stopped out +5 on the rest of my euro long. My stop may have been too tight- I might re-enter if I get decent PA. To be honest, I didn't expect such a fast retracement! Still hanging in there on the Aussie long though
There is no top. There are always further heights to reach. Jascha Heifetz
  • #35,775
  • May 24, 2012 9:04am May 24, 2012 9:04am
Quoting Turtle
Doing good, been doing slot of thinking these last couple of weeks and getting things in order.

How's eveerything with you?

HOLLA
Thinking is good Not enough of it about

I'm very good thanks mate, enjoying the first blast of British summer here! I'm getting some trading done but not planning on doing all that much intraday stuff until mid-June, I plan to make some more time for it when I get back off my hols (vacation). It's the same old work/trading balance that's so hard until you make that big leap to trading FT.
  • #35,776
  • May 24, 2012 9:10am May 24, 2012 9:10am
Quoting DharmaTrader
131,

I was looking at this at the time but wasn't sure how to "know" when/if I should enter. Price is sort of hanging in midair, it's broken below the MAs which indicates downward movement. Is the DBLHC and the failure of the 3rd candle to go below the low all you need to take this entry?

Attachment
Nice trading,

Here's what I did.......I first went long, these realize that resistance should be in the 1.2620 area, plus the trend is short. Closed for a loss, went short @ 1.2694, took profit, left a runner.

HOLLA
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  • #35,777
  • May 24, 2012 9:16am May 24, 2012 9:16am
Quoting DharmaTrader
131,

I was looking at this at the time but wasn't sure how to "know" when/if I should enter. Price is sort of hanging in midair, it's broken below the MAs which indicates downward movement. Is the DBLHC and the failure of the 3rd candle to go below the low all you need to take this entry?

Attachment

In a nutshell, yes. And this was a pure 15min play. As I think I said the HTF's was bearish, the hourly had closed bearish. I also eyeballed this trendline, though hadn't drawn it on when I took the trade, and there had been a previous bounce to the left off the 55 level. And it's probably a decent enough fib retracement, though I haven't checked. Also there was news which provided an initial push down to the bottom of the DBLHC and when it held and started to move up like a springboard I saw enough to take the trade. I wasn't sure that price would move above the previous highs, but there were 20 pips in between to 1st TP, and I had a 6 pip stop! Also when I could see that a TBLHC would be formed that gave me more confidence to hold. I hope that rahter lengthy explanation for a 15min trade helps! Chart with trendline below
Attached Image (click to enlarge)
Click to Enlarge Name: eur15min.gif Size: 23 KB
There is no top. There are always further heights to reach. Jascha Heifetz
  • #35,778
  • May 24, 2012 9:18am May 24, 2012 9:18am
I'm sure you can see another trade in there..
There is no top. There are always further heights to reach. Jascha Heifetz
  • #35,779
  • May 24, 2012 9:19am May 24, 2012 9:19am
Whether it's worth taking is down to your R:R bearing in mind that the hourly chart is against- well just about every TF above 15min!
There is no top. There are always further heights to reach. Jascha Heifetz
  • #35,780
  • May 24, 2012 9:39am May 24, 2012 9:39am
Stopped out on my AU short at 85. Thought about either closing my remaining half or reversing my position when the 2nd 15M candle failed at the 50ema but didn't. I go "deer in the headlights" sometimes at these decision points.

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