I get exercise just pushing my luck
Trade What You See - Almost Naked Trading
- #1,485
- Oct 17, 2010 2:44pm Oct 17, 2010 2:44pm
- Joined Dec 2009 | Status: Trader | 6,603 Posts
Well, I thought the question was addressed to LG from first post...so here's my 2 cents for what it's worth...
You got the 3rd tap alright, but it also confirmed a HL on the 4h TF...
for me, I'd have to see that taken out before I decided a short was in order...
Besides confusing yourself with the crossing RSI's, (RSI 3) is enough per this method, they are both headed north, indicating no short...
The 3rd tap candle is also an Bullish Engulfing setup to indicate a possible turn north...You entered short about have way retrace of this BE candle on...
- #1,491
- Oct 17, 2010 4:53pm Oct 17, 2010 4:53pm
Hi Lawgirl,
Having read the whole thread more than once and began on what seems to be quite a succesful start employing this method to my forex trading I have a question which believe hasnt been asked before on this thread, although clearly please accept my appologise if it has already and has managed to slip my attention.
As a majority of this method is about trading with the weekly trend, on a monday do you take data from last weeks trend and also take note of this weeks opening price compared to last weeks closing price?
To me it would seem safer to not trade monday and let the trend establish itself slightly before making any hasty decisions, however that is my own personal opinion and I would be very interested to hear your view on this as clearly you have been successfully implementing this method longer than myself.
Many Thanks,
TheDell
PS - Thankyou once again for your on going commitment to what has to be one of the best threads here on FF
Having read the whole thread more than once and began on what seems to be quite a succesful start employing this method to my forex trading I have a question which believe hasnt been asked before on this thread, although clearly please accept my appologise if it has already and has managed to slip my attention.
As a majority of this method is about trading with the weekly trend, on a monday do you take data from last weeks trend and also take note of this weeks opening price compared to last weeks closing price?
To me it would seem safer to not trade monday and let the trend establish itself slightly before making any hasty decisions, however that is my own personal opinion and I would be very interested to hear your view on this as clearly you have been successfully implementing this method longer than myself.
Many Thanks,
TheDell
PS - Thankyou once again for your on going commitment to what has to be one of the best threads here on FF
- #1,495
- Oct 17, 2010 5:10pm Oct 17, 2010 5:10pm
- | Joined May 2009 | Status: Focus + Patience = Pip$ | 1,513 Posts
I always stand in open-mouth amazement at people who can spin out code as if they were typing text from a child's storybook.
I have a question and a request .. when I attach the EA (I used a chart of GU, daily, and blacked out everything .. is that how to do it?) .. I get a list of the pairs and whether they are trending but in the corner the little smiley face is not smiling. My EA button is green/active. How do I make him smile?
And ... is it possible to have an option to use a larger font? Older eyes have a problem seeing that size 8 .. I know it is all colored but I have to get really close to screen to see the pair names.
Thanks ... for someone who is a 'complete idiot' you are pretty dang smart!!
I have a question and a request .. when I attach the EA (I used a chart of GU, daily, and blacked out everything .. is that how to do it?) .. I get a list of the pairs and whether they are trending but in the corner the little smiley face is not smiling. My EA button is green/active. How do I make him smile?
And ... is it possible to have an option to use a larger font? Older eyes have a problem seeing that size 8 .. I know it is all colored but I have to get really close to screen to see the pair names.
Thanks ... for someone who is a 'complete idiot' you are pretty dang smart!!
Cheers. Actually, I am a complete idiot but this thread is not the place for a deep discussion about my lack of intellectual clout.
I had another idea, also easy to code, so you might like to go back to my previous post again, as I have edited it.
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I'd rather make money than be right.
- #1,496
- Oct 17, 2010 5:12pm Oct 17, 2010 5:12pm
- | Joined May 2009 | Status: Focus + Patience = Pip$ | 1,513 Posts
Also as there is no option to input an email address .. how does it know where to send the email? I'm afraid to ask..... 
*******************
I'd rather make money than be right.
- #1,497
- Oct 17, 2010 5:12pm Oct 17, 2010 5:12pm
Hi!
A question about the RSI.
From your first post:
Scan through any or all pairs you wish to trade and jot down only those which have confirmation of direction on all three TFs. Do this by observing the RSI.
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
NOTICE ON THE CHART BELOW THAT THE DIRECTION IS DOWN, OR SHORT. (RSI IS BETWEEN 4:00 AND 5:00 O'CLOCK)
My Q:
Does it matter if the rsi is above or below the 50 level??
A question about the RSI.
From your first post:
Scan through any or all pairs you wish to trade and jot down only those which have confirmation of direction on all three TFs. Do this by observing the RSI.
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
NOTICE ON THE CHART BELOW THAT THE DIRECTION IS DOWN, OR SHORT. (RSI IS BETWEEN 4:00 AND 5:00 O'CLOCK)
My Q:
Does it matter if the rsi is above or below the 50 level??
Small steps shall help me forward!
