Trade what you see NOT what you expect | Page 1815 | 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

  • #36,281
  • Jun 19, 2012 3:40am Jun 19, 2012 3:40am
Quoting Trotty
Cheers and I did thanks. I see you are making very solid and cosistent pips now, happy days!
Glad to hear it. Yes, things are looking up for me, thanks. Where did you go on hols?
There is no top. There are always further heights to reach. Jascha Heifetz
  • #36,282
  • Jun 19, 2012 3:44am Jun 19, 2012 3:44am
Quoting Trader131
Glad to hear it. Yes, things are looking up for me, thanks. Where did you go on hols?
Corfu for a couple of weeks. We were there for Greece progressing in the Euros and their elections, which was kinda neat.
  • #36,283
  • Jun 19, 2012 3:52am Jun 19, 2012 3:52am
Very nice. I lived in Athens for two years after leaving college. I loved it there- being able to just get on a ferry from Piraeus at the weekend and reach those beautiful islands in a couple of hours- it's a bit different now in cardiff- well I suppose there's Barry Island!
There is no top. There are always further heights to reach. Jascha Heifetz
  • #36,284
  • Jun 19, 2012 3:55am Jun 19, 2012 3:55am
Quoting Trader131
Very nice. I lived in Athens for two years after leaving college. I loved it there- being able to just get on a ferry from Piraeus at the weekend and reach those beautiful islands in a couple of hours- it's a bit different now in cardiff- well I suppose there's Barry Island!
Ha ha....close but not quite!
  • #36,285
  • Jun 19, 2012 3:56am Jun 19, 2012 3:56am
Closed out the rest of my Euro short +5. Longs are starting to look good again I should have reversed!
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
  • #36,286
  • Jun 19, 2012 3:57am Jun 19, 2012 3:57am
The hourly close on euro is looking bullish. 2 mins to go
There is no top. There are always further heights to reach. Jascha Heifetz
  • #36,287
  • Jun 19, 2012 4:02am Jun 19, 2012 4:02am
Quoting Trader131
The hourly close on euro is looking bullish. 2 mins to go
4hr looks bearish though.....at least on my Alpari feed
  • #36,288
  • Jun 19, 2012 4:08am Jun 19, 2012 4:08am
Yes, I see that, but it's enough of a trade for me- I've bought in the wick of that hourly pin, ignoring news just looking at the charts, and what I see. In fact the news helped me get a great entry
Attached Image (click to enlarge)
Click to Enlarge Name: eur15min.gif Size: 19 KB
There is no top. There are always further heights to reach. Jascha Heifetz
  • #36,289
  • Jun 19, 2012 4:10am Jun 19, 2012 4:10am
Sorry it's a screenshot of the 15min, as I used that for the entry. The 1hour chart would have been clearer. Anyway, taking 1/2 off at the 1hr62ema +23 pips
Attached Image (click to enlarge)
Click to Enlarge Name: eur15min.gif Size: 19 KB
There is no top. There are always further heights to reach. Jascha Heifetz
  • #36,290
  • Jun 19, 2012 4:20am Jun 19, 2012 4:20am
Here's the 1hr chart. The brown ma is the 1hr 200sma- which we bounced from last night- this is a very strong rejection this time, which hopefully will have the momentum to break the 1hr 62ema
Attached Image (click to enlarge)
Click to Enlarge Name: eur1hr.gif Size: 23 KB
There is no top. There are always further heights to reach. Jascha Heifetz
  • #36,291
  • Jun 19, 2012 4:33am Jun 19, 2012 4:33am
No, looks like momentum is slowing after that last 15 min close, so I'm taking another 1/4 off +26, as we may stay in this range
Attached Image (click to enlarge)
Click to Enlarge Name: eur15min2ndtp.gif Size: 19 KB
There is no top. There are always further heights to reach. Jascha Heifetz
  • #36,292
  • Jun 19, 2012 7:02am Jun 19, 2012 7:02am
Quoting DharmaTrader
Any comments on the following would be appreciated. I watched this trade form on the AU but didn't take it. Was this an obvious trade or do you see reasons to hesitate. My feeling is that I saw the trade and thought that it would be good but I didn't take it even though there seemed to be ample evidence that it was a good entry. Therefore, a psychological reason instead of a technical one.

PRO
4H - dead-end close on 10SMA
15M - bull engulfing candle followed by 3 hammers of various size
5M - bull engulfing candle followed by a small retacement...
Dharma, it was a good setup. It sounds like you were looking for a 1hr62 bounce that bounced before it reached it. The fact that on the 1hr chart we were forming a DBLHC just 3-4 pips above the 50ema would have been enough for me to look for an entry on the 15min. Don't hang on waiting for a setup if one is forming just a few pips from your area. EO said that with the 1hr 62- he would often enter a few pips above if it looked like it wouldn't touch it, and I think that can be applied to the 50ma's as well. We rarely get textbook entries, but if there is enough confluence, don't hesitate just enter. For example, you could have placed 1/2 a postition with your stop below 40 with a view to adding if it made it to the 62ema
There is no top. There are always further heights to reach. Jascha Heifetz
  • #36,293
  • Jun 19, 2012 7:05am Jun 19, 2012 7:05am
You might be overwhelming yourself with information having the 5 min chart as well- it means you have one more duck to line up.
There is no top. There are always further heights to reach. Jascha Heifetz
  • #36,294
  • Jun 19, 2012 7:05am Jun 19, 2012 7:05am
Quoting Trader131
No, looks like momentum is slowing after that last 15 min close, so I'm taking another 1/4 off +26, as we may stay in this range
Good that you keep gaining decent pips, I will avoid her. She look bullish there but I don't think she will break, should be ranging. Look like accumulation there.

Rather hard for me to trade without EU, just realize that I link my bias for another pair there. Stopped at BE+2 earlier on GU. Currently GU tempting to load short, but since support is too close I think I won't take it this time.

PS: Roboforex didn't offer ECN demo, is it wise to open account without trying their service?
Add: GU is bullish in my eyes, long after correction would be better.
Attached Image (click to enlarge)
Click to Enlarge Name: gu.gif Size: 24 KB
  • #36,295
  • Jun 19, 2012 7:20am Jun 19, 2012 7:20am
I don't know this broker, but a quick search on forexpeacearmy (I know brokers fix their own reviews so be wary) gave mixed reviews, so I would avoid it. Don't hand over any money until you've found one that isn't a scammer. There are plenty of threads on here about brokers, so please do your own research.
There is no top. There are always further heights to reach. Jascha Heifetz
  • #36,296
  • Jun 19, 2012 7:22am Jun 19, 2012 7:22am
Cable hourly chart- currently at the top of a bull flag
Attached Image (click to enlarge)
Click to Enlarge Name: cable1hr.gif Size: 21 KB
There is no top. There are always further heights to reach. Jascha Heifetz
  • #36,297
  • Jun 19, 2012 7:26am Jun 19, 2012 7:26am
Quoting Trader131
Cable hourly chart- currently at the top of a bull flag
According to VSA in my understanding, this one didn't qualified as a bull flag. But that is a bit off topic in this thread, sorry.

And about broker, I do not have much choice here in my place. I am stuck with my current one, my other only choice is Instaforex and FXOpen. I will try the demo on FXOpen, I will give them another chance as my choice is limited.
  • #36,298
  • Jun 19, 2012 7:35am Jun 19, 2012 7:35am
moving my Stop on Euro up to +10 as this current candle is becoming bearish
There is no top. There are always further heights to reach. Jascha Heifetz
  • #36,299
  • Jun 19, 2012 8:04am Jun 19, 2012 8:04am
Added back in long on euro after that flat close on the 35/50mas, and the following candle failed to break the low.
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
  • #36,300
  • Jun 19, 2012 8:08am Jun 19, 2012 8:08am
Covering half the new position here +23 pips
Attached Image (click to enlarge)
Click to Enlarge Name: eur15min1st tp.gif Size: 20 KB
There is no top. There are always further heights to reach. Jascha Heifetz
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