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Trade What You See - Almost Naked Trading

  • #1,841
  • Oct 21, 2010 12:19am Oct 21, 2010 12:19am
Long on 3Tap
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  • #1,842
  • Oct 21, 2010 12:23am Oct 21, 2010 12:23am
Quoting duffypratt
Thanks for your comments. The point about the weekly direction is good. It's probably what kept me in the trade. It was a bit disconcerting to see the daily bouncing around mid-trade.

In other contexts, I have gotten the impression that a 20 pip move against the trade is enough for you to get out. (And in other contexts, it may be.) One of the "areas for judgment" is how much price action is enough to cause concern. It may be that this can't be easily defined and is something that one gets better at with experience. I'm fine with that, but I'm...
Because I am so goal oriented and I am looking to make at least 100 pips per week, I generally will not allow myself more than a 20-30 pip loss, that's true. But when the market is trending better, and I am looking for really big moves, I'll let the trade go much higher against me.. 100 or more pips. Depends...
  • #1,843
  • Oct 21, 2010 1:27am Oct 21, 2010 1:27am
Quoting lawgirl21
I believe the weekly RSI direction is the most powerful indicator I have ever worked with...especially, as I said, this late in the trading week.

I don't know that pair, but sounds like you handled the trade well.
By this time in the week can we base on the direction of the weekly RSI or should we still only trade pairs where the H4, D1, and W1 are trending in the same direction?

Lawgirl21, Thanks for all of your help!
  • #1,844
  • Oct 21, 2010 6:51am Oct 21, 2010 6:51am
Quoting Location
By this time in the week can we base on the direction of the weekly RSI or should we still only trade pairs where the H4, D1, and W1 are trending in the same direction?

Lawgirl21, Thanks for all of your help!
weekly as well
Hero calls followed by margin calls...
  • #1,845
  • Oct 21, 2010 8:29am Oct 21, 2010 8:29am
Has anyone made any pips in the last few hours?
  • #1,846
  • Oct 21, 2010 8:31am Oct 21, 2010 8:31am
Quoting lawgirl21
Has anyone made any pips in the last few hours?

Nope went in EUR/USD BO trade. but retrace back now still -ve hope to BE.
  • #1,847
  • Oct 21, 2010 8:35am Oct 21, 2010 8:35am
Nothing much. I closed EJ at B/E and GJ at +30 pips. You exited your trades at a good point LG
Trading Makes Money!
  • #1,848
  • Oct 21, 2010 8:41am Oct 21, 2010 8:41am
I'm not seeing much right now...
  • #1,849
  • Oct 21, 2010 8:42am Oct 21, 2010 8:42am
Quoting Cencored
Nothing much. I closed EJ at B/E and GJ at +30 pips. You exited your trades at a good point LG
Well, that's great..you managed those trades really well.
  • #1,850
  • Oct 21, 2010 8:43am Oct 21, 2010 8:43am
Quoting lawgirl21
Has anyone made any pips in the last few hours?

I took USDCHF- so far slow movements...
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  • #1,851
  • Oct 21, 2010 8:49am Oct 21, 2010 8:49am
LG...can you field the questions whatfx posed in post #1645 on page 110 please. I answered the question that was posed about the RSI slope there but the rest of the questions never got addressed and whatfx has asked about them again.
Listen to the whispers.... You may learn something
  • #1,852
  • Oct 21, 2010 8:51am Oct 21, 2010 8:51am
Quoting AndreasF
I took USDCHF- so far slow movements...
Looks like a good trade though.
  • #1,853
  • Oct 21, 2010 8:53am Oct 21, 2010 8:53am
Quoting JGforex7780
Nope went in EUR/USD BO trade. but retrace back now still -ve hope to BE.
...if you entered anywhere close to the time that the BO happened...why have you not already taken profit...
Listen to the whispers.... You may learn something
  • #1,854
  • Oct 21, 2010 9:00am Oct 21, 2010 9:00am
Quoting Scrutch
LG...can you field the questions whatfx posed in post #1645 on page 110 please. I answered the question that was posed about the RSI slope there but the rest of the questions never got addressed and whatfx has asked about them again.
Scrutch...I just can't bring myself to do it..every one of those questions is answered, if he would just keep reading and studying the charts that are posted. One, maybe two questions at a time..fine. Five or six at a time..too much. That's why I really think this is not the ordinary beginners thread...as simple as it is...although we have some very talented newbies here.
  • #1,855
  • Oct 21, 2010 9:01am Oct 21, 2010 9:01am
Quoting Scrutch
...if you entered anywhere close to the time that the BO happened...why have you not already taken profit...

I enter about 20mins after the BO and continued to work. (Office hours here). PLace a limit order about 35pips away but didnt hit. now just have to see and decide.
  • #1,856
  • Oct 21, 2010 9:08am Oct 21, 2010 9:08am
Most pairs seem to be resting at this time..getting ready to do something. Lots of potential BOs seem to be setting up.
  • #1,857
  • Oct 21, 2010 9:09am Oct 21, 2010 9:09am
Chart
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  • #1,858
  • Oct 21, 2010 9:11am Oct 21, 2010 9:11am
Chart
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  • #1,859
  • Oct 21, 2010 9:12am Oct 21, 2010 9:12am
Chart
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  • #1,860
  • Oct 21, 2010 9:14am Oct 21, 2010 9:14am
Chart Sorry-- AUDJPY
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