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Trade What You See - Almost Naked Trading

  • #561
  • Oct 4, 2010 4:42pm Oct 4, 2010 4:42pm
Quoting sashasan
also, here is indi to check the values of RSI - could be set up as 50 level breakout or slope direction (50LevelBreakout == false)
I use 50 level to give a clear picture of neutral, I guess that would == false.
  • #562
  • Oct 4, 2010 4:48pm Oct 4, 2010 4:48pm
Quoting lawgirl21
I use 50 level to give a clear picture of neutral, I guess that would == false.
yes
if true, color agreement would be possible only if current values are above/below 50 level no matter what the angle of rsi curve is
  • #563
  • Oct 4, 2010 4:55pm Oct 4, 2010 4:55pm
Forgive me if this is slightly off topic as it's a question on fundamentals, but with the BoJ actively trying to devalue their currency, would it be prudent to avoid short trade set ups on JPY pairs, esp during Asian sessions? Would you ever something like this into when you're trading LG?

On the the other hand, there are strong down trends on most JPY pairs despite the intervention we saw a couple weeks ago so the market seems to be pretty bullish on the yen.
  • #564
  • Oct 4, 2010 5:06pm Oct 4, 2010 5:06pm
Quoting sashasan
yes
if true, color agreement would be possible only if current values are above/below 50 level no matter what the angle of rsi curve is
But, that is not what we are looking for. Above/below 50 is really getting to overbought/sold conditions...which we are not concerned with here at all. We are using RSI for trend confirmation only.
  • #565
  • Oct 4, 2010 5:11pm Oct 4, 2010 5:11pm
Quoting Baloo
Forgive me if this is slightly off topic as it's a question on fundamentals, but with the BoJ actively trying to devalue their currency, would it be prudent to avoid short trade set ups on JPY pairs, esp during Asian sessions? Would you ever something like this into when you're trading LG?

On the the other hand, there are strong down trends on most JPY pairs despite the intervention we saw a couple weeks ago so the market seems to be pretty bullish on the yen.
You have to decide if you are going to trade news. I decided a long time ago that I would not and I think I stated earlier in this thread my reasons for not doing so. It is certainly a legitimate question and every trader should consider their position on this matter. Again, it is an individual trader's decision.
  • #566
  • Oct 4, 2010 5:16pm Oct 4, 2010 5:16pm
Thanks for clarifying that point Lawgirl. Question however, what is the reason for the 50 level on the RSI 3?
  • #567
  • Oct 4, 2010 5:27pm Oct 4, 2010 5:27pm
I notice a number of different chart types being used here (triangles, wedges and flags, channels, etc.). I am currently reading Murphy and note that he always uses volume to give these shapes context. Is there a reason you good people are not doing so here?

Thanks.
  • #568
  • Oct 4, 2010 5:30pm Oct 4, 2010 5:30pm
to LG, have been lurking here for a while - took the plunge with a short on USDCHF last night, banked a sweet 40 pips - will continue to look and learn

Keep up the good work
  • #569
  • Oct 4, 2010 5:36pm Oct 4, 2010 5:36pm
Quoting dimlat
to LG, have been lurking here for a while - took the plunge with a short on USDCHF last night, banked a sweet 40 pips - will continue to look and learn


Keep up the good work
Good work! But please post your charts as you go into a trade. That way others may catch a trade that might have otherwise been missed.
  • #570
  • Oct 4, 2010 5:39pm Oct 4, 2010 5:39pm
Quoting lawgirl21
Good work! But please post your charts as you go into a trade. That way others may catch a trade that might have otherwise been missed.

sure, just need to figure out how to do it !
  • #571
  • Oct 4, 2010 5:43pm Oct 4, 2010 5:43pm
Quoting lawgirl21
But, that is not what we are looking for. Above/below 50 is really getting to overbought/sold conditions...which we are not concerned with here at all. We are using RSI for trend confirmation only.
i know
  • #572
  • Oct 4, 2010 5:44pm Oct 4, 2010 5:44pm
Quoting dimlat
sure, just need to figure out how to do it !
Go to "File" at top of platform--> "Save as Picture --> check "Active Charts (as is) --> then name the file and save ( I save to my documents)

I'm assuming that most brokers are alike.
  • #573
  • Oct 4, 2010 5:50pm Oct 4, 2010 5:50pm
LG, here goes, went short @ 9755 and TP was 9715
Attached Image (click to enlarge)
Click to Enlarge Name: usdchf short.gif Size: 23 KB
  • #574
  • Oct 4, 2010 5:55pm Oct 4, 2010 5:55pm
has anybody noticed the yen? is it too late now?
should be long at 83.3xx
Attached Image (click to enlarge)
Click to Enlarge Name: yen2.gif Size: 17 KB
  • #575
  • Oct 4, 2010 5:59pm Oct 4, 2010 5:59pm
This thread has been a pleasure to watch for so many different reasons. LG, has taken the simplest of ideas and made it work - more importantly, she worked it to her advantage.

Ah, I like it when somebody uses the simple to confound the wise.

I guess you can just...... on, with your bad self.
  • #576
  • Oct 4, 2010 6:08pm Oct 4, 2010 6:08pm
Quoting sashasan
has anybody noticed the yen? is it too late now?
should be long at 83.3xx
looks good to me, it seem sto tick all the boxes, just took a small long, thanks for heads-up
  • #577
  • Oct 4, 2010 6:08pm Oct 4, 2010 6:08pm
Quoting lawgirl21
Looks like it will be a good trade.
EU currently +105 pips. Position was entered with a 10pip stop so I am happy with this trade. I think I will move SL to + and see how this pair develops today.

Screenshot attached, Red lines are weekly channel, Blue daily channel and Green H4 channel. Will we see price reach the lower daily, or perhaps towards the lower weekly sometime soon? This is where trade management comes into play to try and maximize profit (patience).

Sorry the screenshot is shitty quality for some reason..
Attached Image (click to enlarge)
Click to Enlarge Name: eu-h4.jpg Size: 57 KB
  • #578
  • Oct 4, 2010 6:15pm Oct 4, 2010 6:15pm
Quoting pierre23
EU currently +105 pips. Position was entered with a 10pip stop so I am happy with this trade. I think I will move SL to + and see how this pair develops today.

Screenshot attached, Red lines are weekly channel, Blue daily channel and Green H4 channel. Will we see price reach the lower daily, or perhaps towards the lower weekly sometime soon? This is where trade management comes into play to try and maximize profit (patience).

edit: sorry the screenshot is shitty quality for some reason..
make a right click on chart and choose Svae As Picture and save as active chart
  • #579
  • Oct 4, 2010 6:16pm Oct 4, 2010 6:16pm
Quoting sashasan
make a right click on chart and choose Svae As Picture and save as active chart
yup, I have usually comes out alright as I've posted before.. not sure why its not this time..
  • #580
  • Oct 4, 2010 6:18pm Oct 4, 2010 6:18pm
Quoting pierre23
yup, I have usually comes out alright as I've posted before.. not sure why its not this time..
well, your pic is .jpeg but MT4 does only .bmp or .gif
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