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Trade What You See - Almost Naked Trading

  • #1,541
  • Oct 17, 2010 8:59pm Oct 17, 2010 8:59pm
Quoting lawgirl21
Yes the EURCHF is exactly right. The other chart was a H4 chart with 2 candles at the period separator, so I thought you were using 1 H4 candle instead of 4 H1 candles, which would, of course been the same thing. The only difficulty with doing that is that entries are harder.
Thanks again, lawgirl.
Well, I will sleep now. I see you tomorrow.
Have an excellent week, people!
  • #1,542
  • Edited 9:16pm Oct 17, 2010 9:00pm | Edited 9:16pm
As soon as I posted this last chart, PA started moving down again. Looks like a valid re-entry.
Attached Image
  • #1,543
  • Oct 17, 2010 9:06pm Oct 17, 2010 9:06pm
Am short EJ and GJ on h1 4 candle BO. Both in the money now.
Trading Makes Money!
  • #1,544
  • Oct 17, 2010 9:09pm Oct 17, 2010 9:09pm
Closed EJ at double bottom (visible on h4) for 18 pips. Good start.
Trading Makes Money!
  • #1,545
  • Oct 17, 2010 9:10pm Oct 17, 2010 9:10pm
Current AUDJPY, H1. Entered short @ 80.37. Stop-Loss is at 80.77 the highest high of the 1st 4 bars of the day. Right now Price is around 80.13. Looking good so far.
Attached Image (click to enlarge)
Click to Enlarge Name: audjpy, h1.jpg Size: 118 KB
  • #1,546
  • Oct 17, 2010 9:17pm Oct 17, 2010 9:17pm
I'm in EJ also.
  • #1,547
  • Oct 17, 2010 9:20pm Oct 17, 2010 9:20pm
Quoting alexmackel
Thanks again, lawgirl.
Well, I will sleep now. I see you tomorrow.
Have an excellent week, people!
Good night Alex.
  • #1,548
  • Oct 17, 2010 9:27pm Oct 17, 2010 9:27pm
Quoting lawgirl21
I'm in EJ also.
...but looks like a lot of momo downward, would be nice to see it break and hit that daily TL (dark red)

update on EU short trade: closed for +91
Attached Image (click to enlarge)
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  • #1,549
  • Oct 17, 2010 9:29pm Oct 17, 2010 9:29pm
" I would like to hear more about how you took a larger loss than you needed to."

I generally put my stop below/above signifigant support/resistance areas or recent swing high or lows, or where not practical above or below psych levels of 50 or 100.

Consequently my larger loss last week was triggered at a psych level 53 pips away from entry for a loss of 1% (which is what I risk on any trade at this moment).

I'm assuming LG, that since there are no SL on your charts that you do not apply them (apart from pending orders when sleep is needed), since PA reversal would indicate trade closure on your part. Am I correct?

Or do you use a mental SL when live trading, what is your method here, I'm very curious.

Cheers,
Pedross
  • #1,550
  • Edited 11:00pm Oct 17, 2010 9:38pm | Edited 11:00pm
Quoting pedross
" I would like to hear more about how you took a larger loss than you needed to."

I generally put my stop below/above signifigant support/resistance areas or recent swing high or lows, or where not practical above or below psych levels of 50 or 100.

Consequently my larger loss last week was triggered at a psych level 53 pips away from entry for a loss of 1% (which is what I risk on any trade at this moment).

I'm assuming LG, that since there are no SL on your charts that you do not apply them (apart from pending orders when sleep is...
I do not use them unless I have to leave an open trade for a significant period of time. When I do use them, I do what you do, use S/R levels, but far enough away to allow wide swings because of trading longer TFs.
I do not recommend not putting in stops.
  • #1,551
  • Oct 17, 2010 10:28pm Oct 17, 2010 10:28pm
I noticed that you have trimmed down the number of currency pairs you watch on the LTD EA...Is there a reason for this? Since you also trade other pairs, I'm just currious is all.
Cliff

Quoting lawgirl21
You were right to get out of this trade when you did, Alex. It is having trouble moving further down at this point.
I get exercise just pushing my luck
  • #1,552
  • Oct 17, 2010 10:56pm Oct 17, 2010 10:56pm
Quoting cce
I noticed that you have trimmed down the number of currency pairs you watch on the LTD EA...Is there a reason for this? Since you also trade other pairs, I'm just currious is all.
Cliff
No, I just have them set up in groups...the eur set, the gbp set, the usd set, etc.
  • #1,553
  • Oct 17, 2010 10:58pm Oct 17, 2010 10:58pm
Quoting pierre23
...but looks like a lot of momo downward, would be nice to see it break and hit that daily TL (dark red)

update on EU short trade: closed for +91
Excellent trading...you are almost done for the week!
  • #1,554
  • Oct 17, 2010 11:03pm Oct 17, 2010 11:03pm
Quoting bobby2
Current AUDJPY, H1. Entered short @ 80.37. Stop-Loss is at 80.77 the highest high of the 1st 4 bars of the day. Right now Price is around 80.13. Looking good so far.
Good job, Bobby. I am looking to get into this trade short too.
  • #1,555
  • Edited 11:37pm Oct 17, 2010 11:03pm | Edited 11:37pm
Attached Image (click to enlarge)
Click to Enlarge Name: audjpy, h1.jpg Size: 134 KB
I got out at 80.06 for 31 pips. Price is currently6 stuck around 80.02 - 80.03 which looks like strong support. There's some retracement. Looking for a re-entry short if it continuues down.
  • #1,556
  • Oct 17, 2010 11:14pm Oct 17, 2010 11:14pm
Good night all. I will check back in a few hours. Please report your pips, positive hopefully, but negative also.
  • #1,557
  • Oct 17, 2010 11:20pm Oct 17, 2010 11:20pm
Lots of USD and JPY buying going on. EUR and GBP taking the beating as a result. Nothing much on AUD, CAD, CHF front. If BOJ intervene's now then USD could go the distance.
  • #1,558
  • Oct 18, 2010 1:04am Oct 18, 2010 1:04am
long gold? ( almost third hit on TL,weekly and daily bullish)
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what do u say guys?
Hero calls followed by margin calls...
  • #1,559
  • Oct 18, 2010 1:10am Oct 18, 2010 1:10am
Good night LG21. For us traders in Japan (I live just east of Tokyo, I'm an American), it's 2pm, Monday afternoon. And I've got nothing better to do today 'cept watch the charts and old Cheers episodes on You Tube. (At the same time of course.) Pleasant dreams.
  • #1,560
  • Oct 18, 2010 6:18am Oct 18, 2010 6:18am
Short in EURCHF. H1 BO setup.
Attached Image (click to enlarge)
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