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Tradewhatyousee

Trade what you see, not what you think or hope!There’s no better time to post this educational article than right now. Despite constantly reminding myself to "trade what you see, not what you think or hope," two days ago I did the exact opposite. I ignored a clear double Pin Bar formation at a support level, which resulted in me taking a stop loss. Ironically, I knew better. But, as the saying goes, "Do as the preacher says, not as the preacher does." Let’s dive deeper into this vital concept—how emotions and our tendency to predict or hope for the market’s next move can lead us astray, and why sticking to what the charts show is crucial for long-term trading success. Trade What You See, Not What You Think or Hope In trading, the temptation to predict the market’s movement based on gut feeling, emotions, or even hope is always present. Whether you’re new to trading or experienced, this temptation can lead you to stray from your strategy, often with disastrous results. Successful traders have mastered the discipline of relying on objective data—what they see on the charts—and they minimize the influence of personal bias or emotional decision-making. In this section, we will cover why trading what you see is essential, the pitfalls of emotional trading, and strategies to remain focused. 1. The Pitfall of Predicting the Market One of the biggest mistakes traders make is attempting to outsmart the market by predicting its next move based on feelings or speculation. It's a lot like gambling. For instance, after a loss, traders may try to "get back" at the market by forcing trades or doubling down, just as a gambler would after a bad hand. This reactive behavior is the opposite of trading based on logic and a structured plan. In fact, reacting emotionally after a loss or even after a win (due to overconfidence) creates patterns of erratic trading. Instead, traders should stick to price action setups and predefined trading strategies. 2. Objectivity Over Emotion Trading involves acknowledging that the market doesn’t care about your emotional state. It’s not personal. And yet, so many traders get emotionally attached to their trades, thinking they can make the market to move in their favor. Instead, your goal should be to detach emotionally from individual trades and focus on the larger picture: is the setup you are seeing aligned with your strategy? No matter how perfect a setup looks, you should never become overly confident or emotionally invested in a trade. Always maintain your risk management, even if you are sure this trade is a “winner.” 3. Emotions Can Be Deceptive Your mind can play tricks on you, especially when you're hoping for a specific outcome. Often, traders get caught up in their ideas of where they "want" the price to go, or what they "think" the market "should" do. This can cloud judgment and lead to chasing trades, forcing setups where none exist. Price action on the chart is objective. It doesn’t care about your opinions. By focusing on clean price action patterns and setups, you will avoid being misled by your own expectations. 4. Stick to Your Trading Plan One of the most effective ways to ensure you're trading based on what you see is to stick to your trading plan. Every trade should be in line with the rules you’ve set in advance, whether that’s for entering, exiting, or managing risk. Deviating from your plan because of a gut feeling can quickly turn a good strategy into a string of bad decisions. Ask yourself: Is there a clear setup here, or am I just trying to make one up? Does this trade align with my strategy and risk management rules? 5. Trust What the Charts Show You The key takeaway is that no matter how tempting it is to speculate or act on emotions, the price action is your guide. Trust what the charts show you, even if it contradicts what you “feel” should happen. For instance, ignoring a perfect Pin Bar setup because you “hope” for a retracement can result in missed opportunities or losses. Ultimately, price action trading boils down to looking at what the chart is telling you and not what you want it to say. Have a nice weekend! Mihai Iacob
OANDA:XAUUSDEducation
by Mihai_Iacob
GBPUSD Trade ideaI’ve posted a few ideas for trades i have taken personally on this pair. I have been steadily taking partials and moving stops up into profit. They finally got me this morning. But that’s what they are there for. Currently this pair seems to be ranging around the 1.38 level. I’m expecting and break to the upside followed by a sell back down into the consolidation so we can pursue those lower price targets. once this happens i’m going to release another update. for those of you who followed i appreciate you being here and i hope to welcome many more as time goes on. As for now have a good morning everyone and let’s have a profitable week.
by kamaricolmn
2
CHECK THIS AUDUSD SHORT!Monthly: Un, Dos, Tre's, nice triple top rejecting the 150EMA. Weekly: Showing the end of a Head and Shoulders. Daily: Rejecting the 0.78000 zone on the outside shoulder of the H & S. 4hr: Clear consolidation zone rejecting the 150EMA, long term trendline which has rejected previous and is in a long term descending wedge formation 1hr: Descending wedge using the 0.77225 area as minor support. 15min: Waiting for support to break and the retest to confirm as an entry
Short
by Richie_the_trader
Clear points of entry for either scenario - VERY clean setup.This pair has been sat in some serious corrective price action. i'm hoping we can see a break next week. Which way do i think its likely to break? Probably up, but i'm also very aware that if the bears muster the strength to break that 1.180 area, then we also have a double top that could be good to trade to the bottom of that correction. Targets for the (potential) double top sit near enough directly on that bottom level. So to summarise, although i think this pair is likely to break above, i will not be trading my opinion. i'll be trading what i see. A break, close & pullback on the upper level and ill be looking for longs. A break of that (potential) double top neckline and ill be looking to short to the corrections bottom. MACD looking as though the double top could easily come into play, but as above, i'll trade whatever it wants to give us.
Education
by TeePeeFX
3
AUD Rejecting DOWNTREND LINE (H4)Hi traders! A nice opportunity seems to apear on the AUD chart, meanwhile the price action made a huge correction to the first downtrend line and allready on h4 it made a Bearish Engulfing candddlestick pattern. We may expect a huge falling of aud even if it fights a lot with the virus. If you want to be conservative you can wait until 0.63464 is breaked, then enter the sell transaction. Stop loss have to be above the last high wich is 0.65462. Be careful at 0.61754 too. Verry good Risk Reward/ Be careful on your money management! If your analyse match mine, leave a comment and a like, i really apreciate it. Remember, don't look for FAT wins because the only thing you will get is FAT ! Stay safe!
Short
by Fuelfxc
3