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Trade What You See - Almost Naked Trading

  • #1,381
  • Oct 14, 2010 9:34am Oct 14, 2010 9:34am
Quoting lawgirl21
They can be consecutive candles. This was three taps. Because the 3rd tap was a bullish candle, the entry for a short would have been the next H4 candle to verify direction. Doesn't have to be a the close of that next candle.

If the third tap to go long is a bearish candle, we would wait until the next H4 candle opened and moved a little, to verify direction before taking the trade.
Just to further illustrate the third tap and entries, take a look at this pair. It was a great daily 3 tap trade, but it was also a great 3 tap H4 trade.

Because we were looking to enter long and the 3rd tap candle was long, we did not have to wait and verify direction...could have if wanted to be a little more conservative..but did not need to.
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  • #1,382
  • Oct 14, 2010 9:39am Oct 14, 2010 9:39am
Quoting Scrutch
...depends on how you see if from your end. When you have well known posters reading your thread it's usually an indication that the thread is usefull. As for any of the coders writing an EA for this...that's pure speculation.

Watching EJ as it attempts to make a HH. We have multiple H4 taps, all RSI's are strong up's and an up move here would be a BO trade as well.

Edit1: W1 RSI just turned from a weak up to neutral sideways.
Edit2: W1 RSI has changed back to the weak up direction.
Thanks for pointing this out. I was looking for a breakout and there it is. You are right, weekly is a little weak, but monthly is solidly long.

Are you going in?
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  • #1,383
  • Oct 14, 2010 9:44am Oct 14, 2010 9:44am
LG - I believe this would be a valid 3 tap short? Although I've been following the thread re BOJ intervention I'm not at all familiar with it. Is this too close to the bottom to get short?
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  • #1,384
  • Oct 14, 2010 9:47am Oct 14, 2010 9:47am
Quoting lawgirl21
It was the "lurking around" I didn't understand.
Steve Hopwood, the EA machine was 'lurking around'.
  • #1,385
  • Oct 14, 2010 9:50am Oct 14, 2010 9:50am
Quoting lawgirl21
Thanks for pointing this out. I was looking for a breakout and there it is. You are right, weekly is a little weak, but monthly is solidly long.

Are you going in?
Not right now...look to the M5. The current area above the BO line looks like a picket fence. EJ is having real problems clearing the 114.8ish level. I'll be watching to see what the PA looks like with the upcoming news...
Listen to the whispers.... You may learn something
  • #1,386
  • Oct 14, 2010 9:51am Oct 14, 2010 9:51am
Quoting dmostpips
LG - I believe this would be a valid 3 tap short? Although I've been following the thread re BOJ intervention I'm not at all familiar with it. Is this too close to the bottom to get short?

You are right, it is a good 3 tap set-up...BUT it is at 1994 lows. That is a really, really big deal. I would not go live at these levels.
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  • #1,387
  • Oct 14, 2010 9:53am Oct 14, 2010 9:53am
Quoting Scrutch
Not right now...look to the M5. The current area above the BO line looks like a picket fence. EJ is having real problems clearing the 114.8ish level. I'll be watching to see what the PA looks like with the upcoming news...
Sounds like a smart plan. I'm watching too.
  • #1,388
  • Oct 14, 2010 9:55am Oct 14, 2010 9:55am
My channel trade is in the money now.
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  • #1,389
  • Oct 14, 2010 10:07am Oct 14, 2010 10:07am
how about eur/jpy at 4 hr chart? Would that be something you would look at?
  • #1,390
  • Oct 14, 2010 10:14am Oct 14, 2010 10:14am
Quoting mac53532002
how about eur/jpy at 4 hr chart? Would that be something you would look at?
Mac, you tell me what you see and then I'll tell you what I see...(is that like show me yours and I'll show you mine?)
  • #1,391
  • Oct 14, 2010 10:17am Oct 14, 2010 10:17am
I will not take it.
Most breakouts seem to happen before/during london session and not just before NY-lunch time.

Quoting mac53532002
how about eur/jpy at 4 hr chart? Would that be something you would look at?
  • #1,392
  • Oct 14, 2010 10:20am Oct 14, 2010 10:20am
Quoting lawgirl21
Oh!...what an honor! Glad to have you here.
Thanks for your lovely greeting; this time the honour and good fortune are all mine.

Guys, is it just my perception or has the quality of threads here at FF improved dramatically in recent months. It seems to me that every couple of weeks or so, someone is stepping forward with a system they are trading successfully already, rather than an idea he or she is hoping to develop with help from more experienced traders. These days, there seem to be far fewer systems requiring 14 pretty-coloured thingies to line up before a trade is triggered.

Granted, not all systems suit traders but with the quality of what is on offer, most of us should be able to find something.

I like David's 4H trendline scalping system. I like Lawgirl's system still more. I do not immediately see a way to automate it; I tried an automation of David's system and it works reasonably well but there was always a problem with precisely identifying appropriate taps, or legs as D calls them. Here, we have the added difficulty of the angle of ascent/descent of the Rsi.

This will not stop me thinking about possible automation and would be happy to take pm's from people with ideas about how to measure it. Not here, please, as this would clutter up what is a beautifully clear thread.

I attach a few goodies:

Lawgirl's Trendline Buy/Sell ea's.

These are not robot traders of the kind I usually write. They are for use when traders have identified the first two trendline taps and are awaiting the third. In a downtrend, you will drag the Sell ea onto the chart; it will wait until the market achieves the third tap and enter the trade for you, to save you possibly missing it through not being at the computer. The ea will attempt to send the trade and then suspend itself.

There is a 'safety feature in the form of a prompt for confirmation when you drag the ea onto the chart. This prompt also appears if your platform is closed and restarted for any reason; this is to ensure the ea does not inadvertently send the trade twice before you have the chance to remove it.

One significant input is TrendLineName. This defaults to 'T' and has to be the same name as that of the trendline you are using to trigger the trade; easiest is to leave the default in place and change the name of your trendline. The ea will whinge at you if it does not find an appropriately-named trendline.

Another input to understand is CriminalIsECN. Set this to 'true' if your criminal insists on two-stage order-sending.

Included are opportunities to use Atr to decide on a tp and trading hours limitations, should you want them. Alternatively, the ea can be told to send default tp/sl that you can adjust once the trade has triggered.

Those of you familiar with Nanningbob's V5 and the robots developed to trade his system, and my development of The Beast, will be familiar with Recovery; this is what ReEntryLinePips and ReEntryLineColour are all about; when it sends a trade, the ea will draw the ReEntry line for us. I doubt I am alone in contemplating whether Recovery can be of benefit here.

Might I respectfully suggest that those of us who are familiar with Recovery refrain from discussing it here, again to avoid cluttering up the thread. In a few weeks time will be the time to introduce it if some of us can come on and state that we are using it successfully.

Those of you with no idea what I am wittering about are best off forgetting about it for now. Just concentrate on getting the basics in place in your minds first.

Click and drag take profit and stop loss EA
When you have a trade open and wish to easily manipulate the sl/tp, drag this onto the chart.

 

  1. if sl or tp are missing, it will place defaults into the trade
  2. it will draw a green line at your tp and a red line at your sl. Selecting either and moving them will make the ea attempt to alter the relevant sl/tp at the next tick


Both ea's accommodate x digit criminals.

----------------------------------------------

Over the weekend, I shall develop an ea to work as the Buy/Sell ea's above, but for use when straddling a range and waiting for a breakout.

Attached File(s)
File Type: mq4 Lawgirl's Trendline BUY EA by Steve Hopwood.mq4   13 KB | 787 downloads
File Type: mq4 Lawgirl's Trendline SELL EA by Steve Hopwood.mq4   13 KB | 669 downloads
File Type: mq4 Click-and-drag take profit and stop loss EA.mq4   12 KB | 786 downloads
  • #1,393
  • Oct 14, 2010 10:27am Oct 14, 2010 10:27am
Quoting SteveHopwood
Thanks for your lovely greeting; this time the honour and good fortune are all mine.

Guys, is it just my perception or has the quality of threads here at FF improved dramatically in recent months. It seems to me that every couple of weeks or so, someone is stepping forward with a system they are trading successfully already, rather than an idea he or she is hoping to develop with help from more experienced traders. These days, there seem to be far fewer systems requiring 14 pretty-coloured thingies to line up before a trade is triggered.

Granted,...

Here we go again ... Thank you Steve for your efforts, but I certainly hope this won't turn inot another EA discussion thred as David's did when he introduced his NN1 netwrok robot thing. just my 2 pips (worth about 2 cents)
  • #1,394
  • Oct 14, 2010 10:36am Oct 14, 2010 10:36am
..simple thanks is so inadequate. But thanks a thousand times. This means so much to me, that you would take your time to do this and that you think favorably of this simple little trading system. You and several others who have dropped in from time to time with encouraging remarks, prove to the rest of us, what we suspected all along... that FF has the most successful, talented, and generous traders to be found anywhere.
  • #1,395
  • Oct 14, 2010 10:43am Oct 14, 2010 10:43am
Quoting lawgirl21
..simple thanks is so inadequate. But thanks a thousand times. This means so much to me, that you would take your time to do this and that you think favorably of this simple little trading system. You and several others who have dropped in from time to time with encouraging remarks, prove to the rest of us, what we suspected all along... that FF has the most successful, talented, and generous traders to be found anywhere.
That includes you too LG.
  • #1,396
  • Oct 14, 2010 10:44am Oct 14, 2010 10:44am
Quoting PurePrice
Here we go again ... Thank you Steve for your efforts, but I certainly hope this won't turn inot another EA discussion thred as David's did when he introduced his NN1 netwrok robot thing. just my 2 pips (worth about 2 cents)
I sent you a PM
  • #1,397
  • Oct 14, 2010 10:45am Oct 14, 2010 10:45am
Quoting PurePrice
Here we go again ... Thank you Steve for your efforts, but I certainly hope this won't turn inot another EA discussion thred as David's did when he introduced his NN1 netwrok robot thing. just my 2 pips (worth about 2 cents)
Read Steve's statement carefully. He doesnt want anyone to discuss his EA on this thread.
  • #1,398
  • Oct 14, 2010 11:02am Oct 14, 2010 11:02am
Quoting vinesh
That includes you too LG.
Thanks, vinesh.
  • #1,399
  • Oct 14, 2010 11:24am Oct 14, 2010 11:24am
Quoting PurePrice
How do you put period separators on your charts? Is it an option in MT4 platform, or do you need an indicators for that... if indicator, can you please post it? Thank you in advance!
press control Y, "ctrl Y" on your keyboard
  • #1,400
  • Oct 14, 2010 11:28am Oct 14, 2010 11:28am
Both of these are trending down on all TFs, and consolidating tightly. There could shortly be a triple tap trade, or a breakout trade on one or the other.
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