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Trade What You See - Almost Naked Trading

  • #261
  • Sep 30, 2010 11:53am Sep 30, 2010 11:53am
Quoting lawgirl21
Wow, Scrutch..double thanks.
It's my pleasure...you deserve it.
BTW, I did that yesterday...you just didn't notice.
Listen to the whispers.... You may learn something
  • #262
  • Sep 30, 2010 11:55am Sep 30, 2010 11:55am
Quoting Scrutch
It's my pleasure...you deserve it.
BTW, I did that yesterday...you just didn't notice.
Now I see it..that was very kind of you.
  • #263
  • Sep 30, 2010 11:56am Sep 30, 2010 11:56am
Quoting JGforex7780
In now with +8pips. target 20pips
Good job!
  • #264
  • Sep 30, 2010 12:04pm Sep 30, 2010 12:04pm
Quoting lawgirl21
Yes, that is correct: third tap is against the trend. You can call it a retrace, a pullback, an attempt to break through the TL.---it's all those things.

If because of my schedule, I come to a potential trade at the time of the 3rd tap, I will wait to see if PA breaks through the TL or heads back into the trend direction. If I come to a potential trade after the 3rd tap, then my analyse is different: how many candles ago was the tap? is there room to travel (reasonable R/S levels above and below)? are all TF trends still in confirmation?
I'm wondering if you have ever tried dropping to a lower time frame for you entries. I don't have your charts up (I'm watching a few things of my own at the moment) so I don't know if your daily AU {AUDUSD} chart is showing a long direction as the weekly and monthly did a while ago but for the sake of an example, say all three have given a green light and the daily just tagged your trendline for the third time.

Example Only:
Drop down to an AU 5min chart...there is an excellent PA entry to go long with very small risk...?
Listen to the whispers.... You may learn something
  • #265
  • Sep 30, 2010 12:35pm Sep 30, 2010 12:35pm
Quoting Scrutch
I'm wondering if you have ever tried dropping to a lower time frame for you entries. I don't have your charts up (I'm watching a few things of my own at the moment) so I don't know if your daily AU {AUDUSD} chart is showing a long direction as the weekly and monthly did a while ago but for the sake of an example, say all three have given a green light and the daily just tagged your trendline for the third time.

Example Only:
Drop down to an AU 5min chart...there is an excellent PA entry to go long with very small risk...?

I have never liked anything lower than 15M, but I often use the 15M chart to enter breakout treads--a close of candle completely away form TL.
I would probably want to see a couple of 5M candles close before entering..so I would probably just use the 15M, which would require more patience, but would be 3x the confirmation of a 5M entry.
  • #266
  • Sep 30, 2010 1:05pm Sep 30, 2010 1:05pm
Quoting lawgirl21
I have never liked anything lower than 15M, but I often use the 15M chart to enter breakout treads--a close of candle completely away form TL.
I would probably want to see a couple of 5M candles close before entering..so I would probably just use the 15M, which would require more patience, but would be 3x the confirmation of a 5M entry.
LG...do you use the same approach to enter on you 3tag methodology as well? Providing that you have all rsi's showing the same direction.

Perhaps you would be so kind as to show an example of how you would enter on the recent EJ 3tag. Think all watching your thread would be very interested in a walk through on this as well.
Listen to the whispers.... You may learn something
  • #267
  • Sep 30, 2010 1:17pm Sep 30, 2010 1:17pm
Hi There Lawgirl21
I've been following this thread for a while and wanted to ask, do you have any performance figures for this method. I know you set a dollar value for your weekly goal, but if you had to guess, how long would you say it would take you to double you account, obviously using proper MM (not risking more than 5% per trade).
  • #268
  • Sep 30, 2010 1:58pm Sep 30, 2010 1:58pm
Quoting Baloo
hi Lawgirl, what do you think of this breakout on the EUR/AUD?

For some reason, I missed this post. Sorry I'm so late in responding. Excellent, all TFs were long. Did you make pips on it?
  • #269
  • Sep 30, 2010 2:04pm Sep 30, 2010 2:04pm
Quoting starlite
Hi There Lawgirl21
I've been following this thread for a while and wanted to ask, do you have any performance figures for this method. I know you set a dollar value for your weekly goal, but if you had to guess, how long would you say it would take you to double you account, obviously using proper MM (not risking more than 5% per trade).
I have no performance figures. I do not attempt to double my account. I pull money off the table every time I am up a certain amount of money. As I have stated before, at first I let my winning trades accumulate until it did not feel like "real" money and I got careless. That is why I withdrawn money.
  • #270
  • Edited 3:46pm Sep 30, 2010 2:10pm | Edited 3:46pm
Quoting Scrutch
LG...do you use the same approach to enter on you 3tag methodology as well? Providing that you have all rsi's showing the same direction.

Perhaps you would be so kind as to show an example of how you would enter on the recent EJ 3tag. Think all watching your thread would be very interested in a walk through on this as well.
Yes I often use the same method of going to 15M chart and waiting for movement in my direction with PA. Not always, depending on what I'm seeing PA doing on the H4 chart, but I think it is a good and cautious idea.
  • #271
  • Sep 30, 2010 2:22pm Sep 30, 2010 2:22pm
New to FF, saw this thread and it made a whole lot of intuitive sense, so I am beginning to trade it on demo. (Also read selected posts from the J16 thread and am trying to reconcile the two).

Today I saw an opportunity in EURUSD. lined up W1, D1 and H4 with RSI, saw what I thought was a reasonable triple tap in H4; it all looked good and I went long. Set SL at 100 pips and TP at 30. Working from home today so I set up M1 to glance at occasionally and found myself stopped out 35 minutes later.

My question has to do with a) did I just see the trend too late? and b) how does one arrive at a reasonable SL so that the trade can 'run' but not bankrupt me, so to speak?

Attachments are the charts I was using to decide on the trade and the M1 chart that showed me being stopped out.

Thanks for any wisdom the forum can offer!




[IMG]file:///C:/Users/CIRCUI%7E1/AppData/Local/Temp/moz-screenshot.png[/IMG][IMG]file:///C:/Users/CIRCUI%7E1/AppData/Local/Temp/moz-screenshot-1.png[/IMG]
  • #272
  • Sep 30, 2010 3:15pm Sep 30, 2010 3:15pm
Quoting oradba
New to FF, saw this thread and it made a whole lot of intuitive sense, so I am beginning to trade it on demo. (Also read selected posts from the J16 thread and am trying to reconcile the two).

Today I saw an opportunity in EURUSD. lined up W1, D1 and H4 with RSI, saw what I thought was a reasonable triple tap in H4; it all looked good and I went long. Set SL at 100 pips and TP at 30. Working from home today so I set up M1 to glance at occasionally and found myself stopped out 35 minutes later.

My question has to do with a) did I just see the...

By the way we can't see yur charts.... I had the same question about EURUSD Long before and Lawgirl suggeted that the different Tf were mixed, thusly no trade confirmation on all TFs and therefore no trade .. please read back a few posts regarding EURUSD and AUDUSD today


BTW I still entered long on both, AFTER the trendline was broken by 25 pips, and I am now 60 pips in profit on EURUSD and 37 pis on AUD USD
  • #273
  • Sep 30, 2010 3:19pm Sep 30, 2010 3:19pm
chart ...
Attached Image (click to enlarge)
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  • #274
  • Sep 30, 2010 3:22pm Sep 30, 2010 3:22pm
chart ...
Attached Image (click to enlarge)
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  • #275
  • Sep 30, 2010 3:36pm Sep 30, 2010 3:36pm
I also went back in long a little later, and ended up taking 57 pips. I need to work on entry and exit timing, that's for sure.

How does one attach the thumbnails? Would like to post mine and see where I erred.
  • #276
  • Sep 30, 2010 3:38pm Sep 30, 2010 3:38pm
Am reading Murphy's book on Technical Analysis and noticed you set up a channel (just finished that chapter). Is that how you determine entry and exit points?
  • #277
  • Sep 30, 2010 3:55pm Sep 30, 2010 3:55pm
Quoting PurePrice
By the way we can't see yur charts.... I had the same question about EURUSD Long before and Lawgirl suggeted that the different Tf were mixed, thusly no trade confirmation on all TFs and therefore no trade .. please read back a few posts regarding EURUSD and AUDUSD today


BTW I still entered long on both, AFTER the trendline was broken by 25 pips, and I am now 60 pips in profit on EURUSD and 37 pis on AUD USD
That is fantastic! And thanks for responding, it helps me greatly.
  • #278
  • Sep 30, 2010 4:06pm Sep 30, 2010 4:06pm
Quoting oradba
I also went back in long a little later, and ended up taking 57 pips. I need to work on entry and exit timing, that's for sure.

How does one attach the thumbnails? Would like to post mine and see where I erred.
There is no secret .. first have the chart that you want to capture up on your MT4 platform ... Hit ALT+PrtSc button to capture to the Windows clipboard... then open up Paint program .. in Paint just Edit-Paste (or hit CTRL+V) that should bring in the image you just captured to the clipboard... Save the file somewhere as a jpg. In your "Reply to thread" window, where you write your commnets in this forum, just click on "attachments" on your toolbar, browse to the file you want to attach, hit upload, and then submit the reply, and VIOLA
  • #279
  • Sep 30, 2010 4:13pm Sep 30, 2010 4:13pm
Quoting oradba
Am reading Murphy's book on Technical Analysis and noticed you set up a channel (just finished that chapter). Is that how you determine entry and exit points?
I still use the triple hit method as presented by lawgirl ... However, if I see a channel as well, then the more reason I think that the triple hit will hold. I like to setup my TP near the other side of channel - a few pips just in case the Price does not quite make it all the way to the other end of the channel. I do NOT like to trade the channel in oposite direction of the trend ... meaning with the EUR/USD or AUD USD channel presented earlier, I will not short the top of the channel usually (there is much risk the price may break though the top for a breakout, and not enough reward since the channel is rising not much meat in pips to the downside) but wil certainly Long the bottom of the channel on the third tap.
  • #280
  • Sep 30, 2010 4:20pm Sep 30, 2010 4:20pm
I totally missed this trade. Did anyone catch it? A 200 piper.
Attached Image (click to enlarge)
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