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Trade What You See - Almost Naked Trading

  • #701
  • Oct 5, 2010 3:49pm Oct 5, 2010 3:49pm
Quoting TheFutureAce
Does anyone has a indicator or service that will alert me when the price is touching one of my trendlines.

Its almost impossible to keep a eye on 25 currencies simultaneously

Thanks in advance
You should be able to scan multiple pairs in a matter of a few minutes and make your short list. Short lists are generally no longer than 3-4 pairs..today, at this time, even 1. If that doesn't work, limit yourself to the 6 majors.
  • #702
  • Oct 5, 2010 3:50pm Oct 5, 2010 3:50pm
hi Lawgirl i appreciate what you are doing. i hav alwayz dreamt of trading in this styleA. i know that no indicator works in FOREX.
anyway, im planning to fund my acc. next. after i did that, i will come in fully into ya thread and post my trading ideas and consequently make some sexy pips from it.
thanks
Allow the Market to get to your target entry...
  • #703
  • Oct 5, 2010 3:52pm Oct 5, 2010 3:52pm
Quoting sexypips
hi Lawgirl i appreciate what you are doing. i hav alwayz dreamt of trading in this styleA. i know that no indicator works in FOREX.
anyway, im planning to fund my acc. next. after i did that, i will come in fully into ya thread and post my trading ideas and consequently make some sexy pips from it.
thanks
Best of luck to you! Have you been demo trading for awhile?
  • #704
  • Oct 5, 2010 4:03pm Oct 5, 2010 4:03pm
Quoting lawgirl21
You should be able to scan multiple pairs in a matter of a few minutes and make your short list. Short lists are generally no longer than 3-4 pairs..today, at this time, even 1. If that doesn't work, limit yourself to the 6 majors.
yupe thats what i was thinking. Here is how i trade:

I draw trendlines on daily and weekly timeframes and keep watching the 4hr charts. Once I get a good PA on the 4hr chart....I go into the trade. I have to learn how not to go against the weekly/daily trade or keep a tighter stop loss.
  • #705
  • Oct 5, 2010 4:15pm Oct 5, 2010 4:15pm
Quoting lawgirl21
I just quickly scanned 16 pairs and found only 1 pair with confirmed direction AUDCAD short.

Did I miss something? Please post if you see anything differently.
i am a bit confused LG, i see the RSI as being positive on the H4 and daily - am i missing some
Attached Image (click to enlarge)
Click to Enlarge Name: audcad.gif Size: 24 KB
thing??
also, is there not a violation of the trendline??
  • #706
  • Oct 5, 2010 4:26pm Oct 5, 2010 4:26pm
Quoting TheFutureAce
yupe thats what i was thinking. Here is how i trade:

I draw trendlines on daily and weekly timeframes and keep watching the 4hr charts. Once I get a good PA on the 4hr chart....I go into the trade. I have to learn how not to go against the weekly/daily trade or keep a tighter stop loss.

No, no--you are making this far too difficult. TLs are the last thing to do. Try this order of doing things..

1. have you template on the screen with the first pair that your broker has displayed on "Market Watch" ( your template should look something like the chart on p.1 of this thread.) Start off with weekly. Look at RSI direction and glance at PA (red and green candles really help)

Click daily, then H4. Say outloud (No, I'm not kidding!) as you go to each TF: "up, up, down (or whatever)

2. Go to the next pair on Market Watch by dragging the pair over to the chart on the screen. Starting at weekly again saying outloud: "down, up, down" (whatever the direction)

3. Go to the next pair by dragging over to the chart and start at weekly again: this time, let's say it: "up, up, up" Write this pair down on a piece of paper. ( I use a notebook so I don't have a million scrapes of paper around.)

After doing this for all the pairs you are interested in..go back to each one and look for trends on the H4 chart and draw your TLs. I make notes for myself on the chart so that I can remember what I am looking for when I go back through for review. Hope this helps.
  • #707
  • Oct 5, 2010 4:31pm Oct 5, 2010 4:31pm
Quoting dimlat
i am a bit confused LG, i see the RSI as being positive on the H4 and daily - am i missing someAttachment thing??
also, is there not a violation of the trendline??
I went back 1 candle for my 1st tap, which if you did that would give your 3rd tap the top of the green candle next to your last candle. I have no idea why your RSI is up though.
  • #708
  • Oct 5, 2010 4:34pm Oct 5, 2010 4:34pm
Quoting lawgirl21
I went back 1 candle for my 1st tap, which if you did that would give your 3rd tap the top of the green candle next to your last candle. I have no idea why your RSI is up though.
Add your brokers' regular RSI to the chart to compare them.
  • #709
  • Oct 5, 2010 4:34pm Oct 5, 2010 4:34pm
Quoting lawgirl21
I went back 1 candle for my 1st tap, which if you did that would give your 3rd tap the top of the green candle next to your last candle. I have no idea why your RSI is up though.
ah, got it, thanks.

i wonder if it is because i am in UK?, hence day start is different?? broker offset, etc?? i use Alpari UK to trade.
  • #710
  • Oct 5, 2010 4:35pm Oct 5, 2010 4:35pm
Sorry I cant post the chart cause I am at work. Just took a short on nzdjpy a nice pin bar on the upper daily trendline
  • #711
  • Oct 5, 2010 4:36pm Oct 5, 2010 4:36pm
Quoting lawgirl21
Add your brokers' regular RSI to the chart to compare them.
Attached Image (click to enlarge)
Click to Enlarge Name: audcad.gif Size: 25 KB


curioser and curioser !!
  • #712
  • Oct 5, 2010 4:57pm Oct 5, 2010 4:57pm
Quoting lawgirl21
No, no--you are making this far too difficult....
I've been doing the same thing only slightly differently. I open a new chart, and then drag market watch pairs until I get one that has all three timeframes in the same direction. I leave that chart open and create a new chart, and go back to looking through the pairs til I find another, and so on. That leaves me with a chart tab for each chart worth watching. It comes down to the same thing. LG's way would obviously work as well, except I can't read my own handwriting.
  • #713
  • Oct 5, 2010 4:57pm Oct 5, 2010 4:57pm
Quoting dimlat
Attachment

curioser and curioser !!
That's better.
  • #714
  • Oct 5, 2010 5:05pm Oct 5, 2010 5:05pm
Entry on M30 chart...
H4 and D1 RSI are both up but a bit on the weak side.
Not exactly by the book making it a bit risky.
Attached Image (click to enlarge)
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Listen to the whispers.... You may learn something
  • #715
  • Oct 5, 2010 5:11pm Oct 5, 2010 5:11pm
Quoting Scrutch
Entry on M30 chart...
H4 and D1 RSI are both up but a bit on the weak side.
Not exactly by the book making it a bit risky.
Can't tell if you entered long or short...long?
  • #716
  • Oct 5, 2010 5:13pm Oct 5, 2010 5:13pm
Quoting lawgirl21
Can't tell if you entered long or short...long?

I'm still short this pair. Down 60 pips, but I am curious about it, so will keep it.
  • #717
  • Oct 5, 2010 5:16pm Oct 5, 2010 5:16pm
It's a low volatility time and we have a developed set up.. Only thing we need is a fast PA, in down side off course..... have a good watch....
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Failure is the mother of success: learn from 'her'
  • #718
  • Oct 5, 2010 5:17pm Oct 5, 2010 5:17pm
Quoting lawgirl21
Can't tell if you entered long or short...long?
Long entry...been long this guy all day long. At times the RSI slope was a bit weak for entry but they were always sloping upwards.

Appears that we are about to exchange pips here...
Listen to the whispers.... You may learn something
  • #719
  • Oct 5, 2010 5:22pm Oct 5, 2010 5:22pm
Quoting Scrutch
Long entry...been long this guy all day long. At times the RSI slope was a bit weak for entry but they were always sloping upwards.

Appears that we are about to exchange pips here...
They say it's a zero sum game. Do you see it going up to the next resistence level, I have marked around 1.4180?
  • #720
  • Oct 5, 2010 5:25pm Oct 5, 2010 5:25pm
Quoting lawgirl21
They say it's a zero sum game. Do you see it going up to the next resistence level, I have marked around 1.4180?
Chart
Attached Image (click to enlarge)
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