Trading What I see !?

The sport of kings.
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goat68
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I follow Pete's videos to the letter, trying to trade order flow momentum, that I SEE. I see "backing", so I jump in, it then consistently goes the other way..... I feel I should trade the opposite of what I see!?
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to75ne
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"I feel I should trade the opposite of what I see!?"

if your trading what you see, should you not be ignoring what you feel? if the price as moved against you too far, should you not cut out? if that is what you see.
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Euler
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You felt the market was going to go lower so you let that dictate how you traded. The market pushed you into making that trade. You have to detach yourself from that emotion.
goat68
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Joined: Tue Jun 30, 2020 3:53 pm
Location: Hampshire, UK

Euler wrote:
Fri Jul 31, 2020 3:03 pm
You felt the market was going to go lower so you let that dictate how you traded. The market pushed you into making that trade. You have to detach yourself from that emotion.
no, I SAW that the market was going lower, so I traded that momentum, it wasn't "feel". However, it seems I am always late on the momentum, and it turns by the time I get in!

All 7 trades i've done this afternoon have been a loser!
goat68
Posts: 677
Joined: Tue Jun 30, 2020 3:53 pm
Location: Hampshire, UK

to75ne wrote:
Fri Jul 31, 2020 2:53 pm
"I feel I should trade the opposite of what I see!?"

if your trading what you see, should you not be ignoring what you feel? if the price as moved against you too far, should you not cut out? if that is what you see.
I am ignoring what I feel... I'm just saying that just trading what I see seems a losing strategy for me at the moment!!
I'm obviously not seeing it correctly!!
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Tuco
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All 7 trades i've done this afternoon have been a loser!
...don't forget that for every pound won by someone, a pound is also lost by another!
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Tuco
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The market pushed you into making that trade. You have to detach yourself from that emotion.
...absolutely correct!
goat68
Posts: 677
Joined: Tue Jun 30, 2020 3:53 pm
Location: Hampshire, UK

Tuco wrote:
Fri Jul 31, 2020 5:49 pm
The market pushed you into making that trade. You have to detach yourself from that emotion.
...absolutely correct!
So you're saying don't trade what I see the market is telling me, as it's fooling me? In which case i've missinterpreted what both Pete and Caan have said about trading only what you see.....?
goat68
Posts: 677
Joined: Tue Jun 30, 2020 3:53 pm
Location: Hampshire, UK

So then does that mean when Pete says in his Order Flow explanation video, "start by looking for favourites being backed", he actually means when you find a fav being backed, you should "lay" it?!
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Euler
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goat68 wrote:
Fri Jul 31, 2020 4:56 pm
Euler wrote:
Fri Jul 31, 2020 3:03 pm
You felt the market was going to go lower so you let that dictate how you traded. The market pushed you into making that trade. You have to detach yourself from that emotion.
no, I SAW that the market was going lower, so I traded that momentum, it wasn't "feel". However, it seems I am always late on the momentum, and it turns by the time I get in!

All 7 trades i've done this afternoon have been a loser!
You felt the market was headed lower. So you jumped on it.

When trading you have a setup and adhere to that. You look for the set-up and execute against that, rather than following the market.

The fact you lost all seven in a row is evidence that the market is telling you what to do and you are feeling guided by it.

If you trade at random with no emotion, your strike rate will hover around 50%. So seven losses in a row is a 0.50^7 or a 128 to one chance.

The market forced your hand and you were trading what you felt and that feeling was given to you by the market.
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