Trade what you see NOT what you expect | Page 1837 | 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

  • #36,721
  • Oct 1, 2012 4:07pm Oct 1, 2012 4:07pm
Quoting Turtle
So Cap, what's this indicator????

PM me with some info, I'm interested. :nerd:

BTW....WAAAASSSSSUUUPPPPP??

HOLLA
What's up Turtle!

The "Pathfinder" we speak of isn't an indicator, but rather a trading platform. It's the platform of Fastbrokers, and I opened an account with them recently because I love the platform. If you still want some more info let me know, they have it available to demo on their website.

I'm stuck to the daily charts lately while working my ass off for the man.

PEACE!
Cap
  • #36,722
  • Oct 1, 2012 6:47pm Oct 1, 2012 6:47pm
Quoting The Captain
What's up Turtle!

The "Pathfinder" we speak of isn't an indicator, but rather a trading platform. It's the platform of Fastbrokers, and I opened an account with them recently because I love the platform. If you still want some more info let me know, they have it available to demo on their website.

I'm stuck to the daily charts lately while working my ass off for the man.

PEACE!
I've been using 3 charts to trade: Weekly, Daily and 4hr.

Yes, please send me some info, always want to learn more.

Thanks in advance

HOLLA (no peace icon...WTF) damm thing must be stuck. LOL
  • #36,723
  • Oct 2, 2012 6:34am Oct 2, 2012 6:34am
Cable getting coiled tight, looks like a big move is coming- which way will she go? I'm long from the lower trendline.
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There is no top. There are always further heights to reach. Jascha Heifetz
  • #36,724
  • Oct 2, 2012 6:40am Oct 2, 2012 6:40am
Tough resistance to crack here- been short from the top of the range too. Could go either way. I'm covered +11, with SL just below the TL so net +2 if stopped out
There is no top. There are always further heights to reach. Jascha Heifetz
  • #36,725
  • Oct 2, 2012 7:12am Oct 2, 2012 7:12am
Wonder if it will manage to stay under the Daily Pivots this time?

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  • #36,726
  • Oct 2, 2012 7:20am Oct 2, 2012 7:20am
Yes, difficult to say, there's a real battle going on -the last 4hr candle close was bearish, but we are in a very tight range- if she breaks south, I'll be stopped and will look for shorts then
There is no top. There are always further heights to reach. Jascha Heifetz
  • #36,727
  • Oct 2, 2012 8:23am Oct 2, 2012 8:23am
Finally some movemen... taking some off here, added in again at the green arrow earlier after the inverted hangman at support. Thought it had died, but hey ho, turned out ok. Taking some off here- would be great if we break north, as it's been a tedious day!
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There is no top. There are always further heights to reach. Jascha Heifetz
  • #36,728
  • Oct 2, 2012 9:23am Oct 2, 2012 9:23am
Well the good news for longs is that the hourly closed well above the range, but the bad news is it closed a long green candle right up against resistance at 16183and the weekly pivot. Moving my stop up to 16157 to protect my profits, whilst giving it space to breathe
There is no top. There are always further heights to reach. Jascha Heifetz
  • #36,729
  • Oct 2, 2012 3:46pm Oct 2, 2012 3:46pm
Quoting Trader131
Well the good news for longs is that the hourly closed well above the range, but the bad news is it closed a long green candle right up against resistance at 16183and the weekly pivot. Moving my stop up to 16157 to protect my profits, whilst giving it space to breathe
Good call, came right back down.

HOLLA (PEACE)
  • #36,730
  • Edited 7:55am Oct 18, 2012 7:54am | Edited 7:55am
Hi all.

New trader here, live for about 4 months (10% down at the end of the 4 months, risked 1% per trade to this point but am now risking 0.1% per trade for learning purposes and experience).

Have found this thread and been working my way through the PDF's and a few of EO's posts, I intend to work my way through the entire thread.
There some amazing knowledge and experience to be found within these pages.

It's awesome to see some of the names in recent posts have been characters all the way through since early on in the thread. Turtle, Captain, Trader131!

You guys are obviously still posting and trading, from the PDF's a few of the main setups mentioned are 35-50 EMA cross on the 15 minute chart, 62 EMA bounces on the hourly, bounces off trending MA's. Are these still key setups you guys look for, or are these just small nuances in a much larger understanding that EO was able to impart on the thread?

Also given that this is a monster thread, only a couple weeks out from being 4 years old. I was just wondering how much has changed along the way, for the forex market and/or for the system.

Looking back on my charts to 08-09 it seems moves were alot bigger back then compared to now.

I'm sure i'll find out about any great changes or adaptations as I make my way through the entire thread, but that's going to take awhile and I guess I'm just eager to get active!

Attached an image of a 62EMA hourly bounce I'm in atm, there have been a couple today already. (Hope it shows on my post, 1st post on the site here )
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  • #36,731
  • Oct 18, 2012 6:43pm Oct 18, 2012 6:43pm
Quoting DeeSam
Hi all.

New trader here, live for about 4 months (10% down at the end of the 4 months, risked 1% per trade to this point but am now risking 0.1% per trade for learning purposes and experience).

Have found this thread and been working my way through the PDF's and a few of EO's posts, I intend to work my way through the entire thread.
There some amazing knowledge and experience to be found within these pages.

It's awesome to see some of the names in recent posts have been characters all the way through since early on in the thread. Turtle, Captain,...
Welcome DeeSam

35-50 close and reverse and the 1hr 62ema bounce are the more popular trades. EO, has ALOT of different ones. He always use to say, find one that you like, get a good feel for it and then work on the next one.

I'm trading more long term now, so I use a little different method. 131 stills works the currencies like a magician.

As far as back in 2008 - 2009, you have to remember the financial world was fallin apart, so 100 - 200 pip days was the norm.

There are still plenty of trades to made, just practice patience, do your homework and "Trade what you see, not what you expect" And this rings true no matter what method you use.

If you got questions, feel free to ask.

HOLLA
  • #36,732
  • Oct 20, 2012 4:00am Oct 20, 2012 4:00am
Welcome Deesam,

"are these just small nuances in a much larger understanding that EO was able to impart on the thread?"

I think you've hit the nail on the head with that remark. Whilst the method in the PDF as in the 1hr 62bounce, 1 and 5 o'clock bounces, 35/50 cross and reverse will work, it's always within the bigger frame of price action at support and resistance.

Traidng them on their own without an eye on this will not be successful. Reading the thread is the best thing you can do, as you will see what they saw and start to think like them. Regarding the actual method, I think a lot of traders have moved on and tweaked things for their own style, but generally remained true to the overall trading price action at S/R.

I personally, having tried out different chart software, found that too many ma's were not homogenised across the different timeframes (I mean why have an ema on some charts and the same but sma on a different TF?) and did some backtesting with mixed results. The thing about ma's is that there is a danger of curve fitting- that if you plonk any ma on a chart that you are going to see what you think is a reaction to the ma, when the reason for the reaction will generally be a level. I think the ma's should be a form of secondary confluence. The 1hr 62ema does have a habit of being in the right place at the right time, but if you look at the times when it is successful in bouncing the price- it's usually because price is revisiting a level where price had a reaction previously (like in your trade)and it hasn't hit in a while, or a fib retrace or whatever.


I haven't posted recently as I've been experimenting changing and simplifying ma's and didn't want to confuse the thread, but the core way I trade is the same. I suspect that most of the senior traders here have adapted things to their own style as well. It's not that it doesn't work anymore, but markets change and like Turtle says, the moves of 2009 were generally larger than we get nowadays- I think we need to adapt also.

Anyway, good luck with it, and remember it's not all about the ma's
There is no top. There are always further heights to reach. Jascha Heifetz
  • #36,733
  • Dec 5, 2012 9:36am Dec 5, 2012 9:36am
This Turtle indi may be of help to you.
As far as I can tell it does not repaint - I have not seen it repaint in a month of watching.
regards
George
Attached File(s)
File Type: ex4 TheTurtleTradingChannel & mtf.ex4   7 KB | 627 downloads
  • #36,734
  • Apr 11, 2013 4:45am Apr 11, 2013 4:45am
anyone still using this system to trade. personally i would use them on lower time frames looking fir bounce or scalp orders
  • #36,735
  • May 27, 2013 7:05pm May 27, 2013 7:05pm
What's up people?? Where is everyone who was posting most recently.. Trotty, 131, Turtle, Cisco.... Pippi.. The man himself EO??? Check in and give some news about how you are all doing!
Cap
  • #36,736
  • May 28, 2013 12:38am May 28, 2013 12:38am
Hey Captain! How's thing with you?

All good here. Slight change of personal circumstances mind you. I got "head hunted" (called by a recruitment consultant!) 8 months ago and got offered an employed position that was too good to turn down. I get to work from home 2-4 days a week so still plenty of trading time but not enough time to post on here as well as concentrating on work and trading. Something had to give!

Just concentrating on growing equity now with a longer term plan to start a business, finish up employed work again (finally for good) and then have more trading time as well. The consulting piece was fine but there wasn't much I could grow. I need something I can develop and I don't think trading alone is going to keep me happy as a "business". It's all good though and i'm very optimistic for the future.

How about you, still getting in enough trading in between zipping about in your plane?
  • #36,737
  • May 28, 2013 6:45am May 28, 2013 6:45am
Hey Guys, good to see you're both still around!

Glad things are going well for you, Trotty. Hope all's well with you too, Captain. I've also been busy in the "real!" world too- this year has been mad. Lots of tv recordings with quartet, and orchestra/opera concerts. Trading has taken a backseat, until I really feel I am bulletproof (I still have those demons), and as a freelance musician, I have really to follow the work, and make hay while the sun shines! I'm still not giving up on the dream of being a full time trader though, and managing to squeeze it in where possible, but the markets will always be there.

Now I wonder how Turtle's getting on?
There is no top. There are always further heights to reach. Jascha Heifetz
  • #36,738
  • May 29, 2013 1:00am May 29, 2013 1:00am
131, how's it going? Good to see you're still around and still trading too. Sounds like you're having an exciting year then? Do you actually get yourself on TV during these recordings then? What sort of shows should I be looking out for you on?

I'm in a similar place to you I think. My proper career takes priority until I have enough equity that I no longer have any fears - either during an open trade or about running short of money. I also think having another business on the side that I can run from home will give me extra security but also something other than trading in my work life. The hard balance to find will be not having too much work that it distracts me from effective market analysis. It's a tough balance but one that EO seemed to navigate his way through. I'm sure it can be achieved.

I'll be back on this thread in a more constructive way one day. The markets aren't going to vanish and nor will this thread. It's just a matter of time
  • #36,739
  • May 29, 2013 2:11am May 29, 2013 2:11am
Quoting Trotty
131, how's it going? Good to see you're still around and still trading too. Sounds like you're having an exciting year then? Do you actually get yourself on TV during these recordings then? What sort of shows should I be looking out for you on?

It's going well, Trotty- great to hear from you.

No, it’s not that glamorous- I’m just playing the music in the background! It’s mostly stuff like natural history programmes, but recently I recorded “Frankie” a six part BBC1 drama based in Bristol that’s showing at the moment. It’s a busy Summer ahead as well, with 5 London prom concerts including the Doctor Who prom- my boy’s are very excited about going to the dress rehearsal!

I still manage to trade when I can, but it’s generally scalping- I was never a very good at holding trades anyway...

I agree about needing something other than trading in your life, that is, living in the “real” world. Also, I think trading should be of secondary importance, and that will help enormously with the psychological facets, even though it potentially will bring in much more financial income long term. The pressure of trying to trade "all or nothing" can be so destructive. Always good to have broader horizons

There is no top. There are always further heights to reach. Jascha Heifetz
  • #36,740
  • May 30, 2013 5:46am May 30, 2013 5:46am
Quoting Trader131
{quote} It's going well, Trotty- great to hear from you. No, it’s not that glamorous- I’m just playing the music in the background! It’s mostly stuff like natural history programmes, but recently I recorded “Frankie” a six part BBC1 drama based in Bristol that’s showing at the moment. It’s a busy Summer ahead as well, with 5 London prom concerts including the Doctor Who prom- my boy’s are very excited about going to the dress rehearsal! I still manage to trade when I can, but it’s generally scalping- I was never a very good at holding trades anyway...I...
That's it. Trading should enrich a life but it should never dominate it. If I ever am in a position when trading is all that I do, I would want it to be at a point where just a couple of hours a day gives me what I need and then for the rest of my free time, I live.

Wonder where all the rest are? Hope Turtle is getting on ok.
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