Trade what you see NOT what you expect | Page 1801 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

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

How do you see trading - Do you see it as a means to an end? 12 replies

how long do you expect to trade? 10 replies

Trade What You See And Not What You Hope 0 replies

Attachments: Trade what you see NOT what you expect
Exit Attachments

Trade what you see NOT what you expect

  • #36,001
  • Jun 11, 2012 9:15am Jun 11, 2012 9:15am
Long Euro at 42. Bit risky, a couple of mins before candle close, but it's a good entry price. It look to be forming a double bottom on 15min, and this closing candle is an inverted hangman at the moment and will likely close bullish
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
  • #36,002
  • Jun 11, 2012 9:41am Jun 11, 2012 9:41am
My chart connection with Alpari uk has dropped for the last 10 mins, (anybody else have problems?) so no screenshots, but I've added in to my Euro long at 30 and added an Aussie long at 36. Can't show screenshot, as charts are full of gaps now. Stopped out on cable
There is no top. There are always further heights to reach. Jascha Heifetz
  • #36,003
  • Jun 11, 2012 9:44am Jun 11, 2012 9:44am
Stopped out on Euro
There is no top. There are always further heights to reach. Jascha Heifetz
  • #36,004
  • Jun 11, 2012 9:59am Jun 11, 2012 9:59am
Quoting Trader131
Stopped out on Euro
Sorry to hear that, my initial TP just hit. If only I do not move my SL, but what is done is done.
  • #36,005
  • Jun 11, 2012 10:00am Jun 11, 2012 10:00am
Took a long here on the GU at the 1H 62 EMA and the round number.

Attached Image (click to enlarge)
Click to Enlarge Name: GU2012-06-11_08-56.jpg Size: 161 KB
  • #36,006
  • Jun 11, 2012 10:09am Jun 11, 2012 10:09am
Quoting Passerby
Sorry to hear that, my initial TP just hit. If only I do not move my SL, but what is done is done.
The important thing is that you stick to your plan. If your plan says to move your stop to B/E once a certain level is hit then do it. If you find that your plan needs to be adjusted because you are constantly being stopped out at B/E then make adjustments to your plan and then trade that new plan.

Psychologically, it is dangerous to look back and say: "if only I hadn't moved my stop" because it causes you to doubt your plan. Believe me, I've been there and done that and it doesn't lead to better trading.
  • #36,007
  • Jun 11, 2012 10:11am Jun 11, 2012 10:11am
Yes, unfortunately, we learn the most from our mistakes. I should have waited for better PA than that, before entering CT, and not added to it. Still in the Aussie long which may come good.
There is no top. There are always further heights to reach. Jascha Heifetz
  • #36,008
  • Edited 10:33am Jun 11, 2012 10:26am | Edited 10:33am
I shaved 1/2 of my GU long at B/E +2 as we are not yet seeing a strong turn. I'm waiting to see what happens come the London close in 5 min to decide what to do next.

Update: Closed the remaining 1/2 at B/E -2. EU and AU are still falling so I'll look for a better trade.
  • #36,009
  • Jun 11, 2012 10:31am Jun 11, 2012 10:31am
Quoting DharmaTrader
The important thing is that you stick to your plan. If your plan says to move your stop to B/E once a certain level is hit then do it. If you find that your plan needs to be adjusted because you are constantly being stopped out at B/E then make adjustments to your plan and then trade that new plan.

Psychologically, it is dangerous to look back and say: "if only I hadn't moved my stop" because it causes you to doubt your plan. Believe me, I've been there and done that and it doesn't lead to better trading.
Yes I know that, its saving me earlier on GU. But thanks I appreciate your concern. EU is just slightly below my daily trend line. Got a reaction on volume, its very tempting to take long around this level. If we got an indication that she would turn her back, I might take an entry.
  • #36,010
  • Jun 11, 2012 10:51am Jun 11, 2012 10:51am
Watching the EU to see if the 1H closes as a hammer right at the Weekly Pivot. If so, there may then be an opportunity to buy down the wick of the 1H candle using 15M PA to confirm.

Attached Image
  • #36,011
  • Jun 11, 2012 11:38am Jun 11, 2012 11:38am
Yes, I'm watching that too, cable also finding support here.
There is no top. There are always further heights to reach. Jascha Heifetz
  • #36,012
  • Jun 11, 2012 11:45am Jun 11, 2012 11:45am
Got nothing, I think I should call it a day. See you all later tomorrow.
  • #36,013
  • Jun 11, 2012 11:52am Jun 11, 2012 11:52am
Yes, not a great day for me either, Passerby. Tomorrow will be better. I took a long on Eurusd at 98, in the wick of the pin, when it looked like it wasn't going lower, but that's the last for me. Catch you tomorrow.
There is no top. There are always further heights to reach. Jascha Heifetz
  • #36,014
  • Jun 11, 2012 3:03pm Jun 11, 2012 3:03pm
Looks like the 2 trades that I didn't take were the winners today. The AU short just at the NY open and the GU shampoo at the same time. Going into the close both of those trades are at about +70 pips.

Sometimes I focus too much attention on the PA that confirms a reversal instead of concentrating on the PA which indicates a continuation of the trend of the moment. As EO stated and The Captain has recently reminded me of, trading away from the MAs works.

Let's see what happens next...
  • #36,015
  • Jun 11, 2012 8:03pm Jun 11, 2012 8:03pm
What do you think about posting trades after the fact? Does it add value? It can sometimes get hectic trying to post and trade at the same time. Also, does posting real time trades add value?

I'd personally like to have more real time discussion about potential upcoming opportunities as opposed to mainly posting trades after I've entered. I'm not talking about the signal service variety but more pointing out what we are looking at either on the long term charts or when PA is starting to speak to us. That seems to be more like what was going on when the thread was newer and there was a bunch of people interacting. What do you think?

  • #36,016
  • Jun 12, 2012 1:38am Jun 12, 2012 1:38am
Morning all. Dharma, you're right, this is what I mentioned a couple of weeks ago- it can get very complicated, posting charts and replying to posts in the thick of trading. You must do what you are comfortable with- the trading comes first. You don't need to prove that you are not bullshitting us with silly "oh yes, I sold at the top and grabbed 100 pips posts"! I agree that posting possible things we are looking out for- areas of interest etc is really useful, and maybe less of the live trading charts. I personally chose to put up lots of charts as having read the thread, I found it much easier to follow when someone put up a chart

Yes trading away from the ma's is good, but those 2 trades that you talk of were trading into the ma's!

Possible inverted H and S on Euro
There is no top. There are always further heights to reach. Jascha Heifetz
  • #36,017
  • Jun 12, 2012 2:20am Jun 12, 2012 2:20am
Took a Euro long after seeing the poss H&S forming at 87 after the 15min pin. Went and had breakfast, and just got back to cover 1/2 +28 pips (I should go away more often!). Screenshots of 15min entry and TP1 below. Good start to the day!
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eur15min.gif Size: 20 KB
Click to Enlarge Name: eur15mintp 1.gif Size: 20 KB
There is no top. There are always further heights to reach. Jascha Heifetz
  • #36,018
  • Jun 12, 2012 3:49am Jun 12, 2012 3:49am
Quoting DharmaTrader
What do you think about posting trades after the fact? Does it add value? It can sometimes get hectic trying to post and trade at the same time. Also, does posting real time trades add value?

I'd personally like to have more real time discussion about potential upcoming opportunities as opposed to mainly posting trades after I've entered. I'm not talking about the signal service variety but more pointing out what we are looking at either on the long term charts or when PA is starting to speak to us. That seems to be more like what was going...
Morning all,

Dharma, I get your point. I agree with you to post upcoming trades, my main concern to post the trade taken is to convey the reason why I enter the trade and to let others to evaluate my decision. I might miss something, if you follow my discussion with trader 131 you will know that I miss that some flag are developing. But yes, posting a chart before taking the trade will also do that.

For the following post I will try to post before I take the trade.

@Trader131: I also took the same trade with you after I think M15 closed above supply level, still in the trade right now aiming at 2599 with 2550 to look after. Btw, after looking around and evaluate yesterday trade I found what we missed. Look at the daily tf, I think you also missed that one. Yesterday PA is not a mess if you look there. I know it's a bit late but at least we could learn from our mistake for future trades.

PS: It's rather weird, my surname is also Dharma.
  • #36,019
  • Jun 12, 2012 4:04am Jun 12, 2012 4:04am
Look at this chart, I spot a possible development of an expanding triangle. The same formation also occurred in AU.

If I got a reaction on the upper trend lines, I might close my long and enter on short.

Add: BTW, I took long on different candle. I took it after the long one, not when it close like I usually do but after some correction. I read the pdf in post#1 and I agree with Eohater that it was worth to wait a bit to enter on slightly better price.
Attached Image (click to enlarge)
Click to Enlarge Name: expanding triangle.gif Size: 20 KB
  • #36,020
  • Jun 12, 2012 4:08am Jun 12, 2012 4:08am
Quoting Passerby
Morning all,

Dharma, I get your point. I agree with you to post upcoming trades, my main concern to post the trade taken is to convey the reason why I enter the trade and to let others to evaluate my decision. I might miss something, if you follow my discussion with trader 131 you will know that I miss that some flag are developing. But yes, posting a chart before taking the trade will also do that.

For the following post I will try to post before I take the trade.

@Trader131: I also took the same trade with you after I think M15 closed above...
Passerby, I wouldn't try too hard to post charts before or during the trade, as it can make things difficult trading.

I got stopped out BE on my earlier Euro trade, but am in long on cable from the opening of the candle in the screenshot below. I got in at 75 , have just taken 1/2 off here +26 pips at the round no. and SL to BE now. Reasons for entry- triple bottom on weekly pivot and support that failed to close below the previous wicks. As I type we have formed a hammer on the hourly, so I might cut it sooner.

Re: the daily chart yesterday- I know what you mean!
There is no top. There are always further heights to reach. Jascha Heifetz
4 traders viewing now