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Trade What You See - Almost Naked Trading

  • #321
  • Sep 30, 2010 9:28pm Sep 30, 2010 9:28pm
Quoting Dejan
screenshot
[/quote]


Great job!
  • #322
  • Sep 30, 2010 10:57pm Sep 30, 2010 10:57pm
is there a rule whereby we can join two points from one swing to another? the chfjpy trade posted has two point joint by only the next 4hour bar.
  • #323
  • Sep 30, 2010 11:15pm Sep 30, 2010 11:15pm
Quoting juzgood1978
is there a rule whereby we can join two points from one swing to another? the chfjpy trade posted has two point joint by only the next 4hour bar.
There really are no hard and fast rules, only observations and comments on what has worked in the past and is likely to work in the future. I really liked that chart and it worked for him. If PA is continuing in the same direction and there are multiplies of signals (taps) why not piggy back the taps..
  • #324
  • Sep 30, 2010 11:22pm Sep 30, 2010 11:22pm
Quoting juzgood1978
is there a rule whereby we can join two points from one swing to another? the chfjpy trade posted has two point joint by only the next 4hour bar.
JG, look back at my post #315, wherein I said that I believed working with only a few charts, but in a continuim would yield lots of money...this continued tap piggy backing would be an important element in that process...as long as the trend continues, of course.
  • #325
  • Sep 30, 2010 11:28pm Sep 30, 2010 11:28pm
Quoting lawgirl21
JG, look back at my post #315, wherein I said that I believed working with only a few charts, but in a continuim would yield lots of money...this continued tap piggy backing would be an important element in that process...as long as the trend continues, of course.
Also re-read post #227.
  • #326
  • Oct 1, 2010 12:18am Oct 1, 2010 12:18am
He Lawgirl21 , like the way this thread goes and like your system. I will be looking closer to this thread.

Thanks
  • #327
  • Oct 1, 2010 12:27am Oct 1, 2010 12:27am
Hi Lawgirl,

I like this sentence in yr first post "TRADE ANY MARKET THAT MAKES SENSE FOR YOUR LIFESTYLE. DON'T WORRY ABOUT WHICH MARKET IS OPEN, WHICH IS CLOSED." I lost my life since i start trading... 1 year back. Everynight I will switch on my pc after work and starring at it till i go to bed. My wife and daughter complaining that I look at the monitor more than i look at her...haha

I decided to drop back and look at the bigger tf. There are different way of trading, some trading MTF and it really need screen time in order to place a trade. As I am doing it part time, i prefer to be a position trader.

I am going to go thru yr thread this weekend and thank you for the sharing. I will follow this thread and hope we can have many happy pips.

EJ monthly showing a Railway Track Pattern. One long bear candle AND 1 bull candle... what is your view for this pair? Thanks
  • #328
  • Oct 1, 2010 1:03am Oct 1, 2010 1:03am
Quoting freedomsg
Hi Lawgirl,

I like this sentence in yr first post "TRADE ANY MARKET THAT MAKES SENSE FOR YOUR LIFESTYLE. DON'T WORRY ABOUT WHICH MARKET IS OPEN, WHICH IS CLOSED." I lost my life since i start trading... 1 year back. Everynight I will switch on my pc after work and starring at it till i go to bed. My wife and daughter complaining that I look at the monitor more than i look at her...haha

I decided to drop back and look at the bigger tf. There are different way of trading, some trading MTF and it really need screen time in order to place a trade....
Hi freedom--I tried setting my alarm clock to wake up at 3:00 a.m. or whatever because someone said to trade the London market..it about killed me. Then I found I could make money trading anytime I had a chance to get to a computer. Trading is lonely enough.

I don't see much happening for EJ right now. H4 is in the ditch, being indecisive. Daily is short, but weekly and monthly are long..although PA for monthly on my chart is short. Too much confusion for me. This is beginning of new trading month, so I would give direction a little more time.
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  • #329
  • Oct 1, 2010 1:05am Oct 1, 2010 1:05am
Quoting Jmb33
He Lawgirl21 , like the way this thread goes and like your system. I will be looking closer to this thread.

Thanks
Thanks Jmb. Glad to have you here.
  • #330
  • Oct 1, 2010 1:45am Oct 1, 2010 1:45am
http://www.bigdaypictures.com.sg/euraudtrade.jpgValid Trade?
  • #331
  • Oct 1, 2010 3:24am Oct 1, 2010 3:24am
Hi Lowgirl, please explane me how to understand the RCI: For LONG: RSI should be pointing between 12:00 and 2:00. 3:00 is neutral.

For SHORT: RSI should be pointing between 4:00 and 6:00. Again, 3:00 is neutral why not above/below 50%? Sorry, I did not understand how you use RCI, but RCI is an important part of your strategy, correct? Thank you,
  • #332
  • Oct 1, 2010 4:03am Oct 1, 2010 4:03am
Hi Lite,
If you read the thread (which is not very long at the moment!) this question has been asked and answered already
Just think of the last line on the indi as the hour hand of a clock
You don't have to be right, just don't be too wrong
  • #333
  • Edited 5:03am Oct 1, 2010 4:16am | Edited 5:03am
Quoting lawgirl21
Hi freedom--I tried setting my alarm clock to wake up at 3:00 a.m. or whatever because someone said to trade the London market..it about killed me. Then I found I could make money trading anytime I had a chance to get to a computer...................
Lawgirl21 - If this thread carries on at the current rate you're going to have to give up the dayjob. Respect for answering everyones comments....everyone else...you may well find answers to any questions earlier on in the thread.

Third day in profit today as a result of this method and that is a first in 2 years of trading.

Thank you Lawgirl21
  • #334
  • Oct 1, 2010 5:00am Oct 1, 2010 5:00am
This sytem is excellent just that speaking on behalf newbies it has a couple of "vagueness" or grey area. Like how far the taps can we go and the tap touches is it base on bid or ask? Also when there's a zigzag pattern do we take long or short?
This is an amazing trading thread and I love it an personally see light and hope in forex trading now. Just that if we can't get the. "vagueness" sort out it will affect on our emotions during real money trading I guess..
  • #335
  • Oct 1, 2010 6:40am Oct 1, 2010 6:40am
Quoting lite27
Hi Lowgirl, please explane me how to understand the RCI: For LONG: RSI should be pointing between 12:00 and 2:00. 3:00 is neutral.

For SHORT: RSI should be pointing between 4:00 and 6:00. Again, 3:00 is neutral why not above/below 50%? Sorry, I did not understand how you use RCI, but RCI is an important part of your strategy, correct? Thank you,

RSI is used, along with PA, to determine direction only. It is not used to indicate overbought/sold for our purposes. Basically, RSI needs to be pointing up for long and down for short.
  • #336
  • Oct 1, 2010 6:42am Oct 1, 2010 6:42am
Quoting hirnant
Lawgirl21 - If this thread carries on at the current rate you're going to have to give up the dayjob. Respect for answering everyones comments....everyone else...you may well find answers to any questions earlier on in the thread.

Third day in profit today as a result of this method and that is a first in 2 years of trading.

Thank you Lawgirl21
I am so happy for you, L Please post your trades for all to see and learn from.
  • #337
  • Oct 1, 2010 6:51am Oct 1, 2010 6:51am
Quoting lawgirl21
RSI is used, along with PA, to determine direction only. It is not used to indicate overbought/sold for our purposes. Basically, RSI needs to be pointing up for long and down for short.
Hi Lawgirl, in regardless above/below the 50 level? Thanks
  • #338
  • Oct 1, 2010 7:03am Oct 1, 2010 7:03am
Quoting juzgood1978
This sytem is excellent just that speaking on behalf newbies it has a couple of "vagueness" or grey area. Like how far the taps can we go and the tap touches is it base on bid or ask? Also when there's a zigzag pattern do we take long or short?
This is an amazing trading thread and I love it an personally see light and hope in forex trading now. Just that if we can't get the. "vagueness" sort out it will affect on our emotions during real money trading I guess..
JG, I do not believe that this system is really a good newbie system. I think that even though it is simple, it is really an advanced system of trading. And one reason is that there will always be vagueness, because there are no exact numbers involved..only areas i.e. areas of support, areas of resistence etc.

Another reason I believe this is a better system for advanced traders is that we are really trading three different styles, based on trend and PA alone.

1. 3 tap system - the easiest. Basically find the trend. Look for taps.

2. Breakout system - when there are no discernable trends. The first three days of this week were like this on many pairs.

3. Channel Trading - knowing the trend, but trading the bounces off of trend channels. The hardest and riskiest of the three, in my opinion, because countertrend trades are involved.

There are whole threads and indeed books written on each of these styles of trading. We are using them interchangably because we are "reading the charts" and can determine what type of market we are in. And we can determine what type of trade is called for. We can also determine when a pair doesn't fit into any of our trade types and move on to another pair. This is advanced trading.
  • #339
  • Oct 1, 2010 7:06am Oct 1, 2010 7:06am
Quoting freedomsg
Hi Lawgirl, in regardless above/below the 50 level? Thanks
The 50 level is just there for point of reference.
  • #340
  • Oct 1, 2010 7:17am Oct 1, 2010 7:17am
Quoting lawgirl21
The 50 level is just there for point of reference.
Hi Lawgirl, are you saying, 1 can leave the 50 level out? Because I need only look at the direction of the RSI 12 to 2 or 3 to 5? Sorry for the trouble. Thanks
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