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Trade What You See - Almost Naked Trading

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Quoting JGforex7780
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.
...20m after the BO would put you right around the high, think I see your problem now.
Listen to the whispers.... You may learn something
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!
I generally will not trade against a strong weekly direction by this time..unless I am intentionally placing a countertrend trade. The weekly is further confirmation that we have the correct direction. Of course the market can do whatever it wants to do whenever it wants to do it..but it would take a great deal of momentum to change direction by this time in the week.

That said the set-up rules don't change..use confirmation on the 3 TFs before a trade.
Hi lawgirl21,

Great thread, its up there with EOHaters, Trade What You See.

When looking at potential trades (especially late pm, GMT) look at whether the pips Average Daily Range has been used up. The trend generally runs out of steam.

Thanks Again!
entered nzdusd @ 0.7488 stopped @ 0.7536 bummer, was in the same pair before that, short also but had tp too small and got out at + 32 pips managing trades is not easy am trying to have faith in my stops but this one bit me .. great day yesterday tho
bed time now good trading all
Allan J
Hmm .. this discussion of candle color on the 3rd tap means you're supposed to wait for the 3rd tap 4h candle to close?? I thought once you had the two taps connected with TL, you just waited for price to touch that line again & take the trade, putting stop just above (or below) TL depending on direction. That's how I've been doing it ... obviously also watching for other signals that do not show conflict. Am I supposed to be waiting for that 3rd tap candle to close completely? Looks like you could miss some moves that way... ??

Quoting duffypratt
I'm not sure, but I think what you are saying here is that sometimes you get to the chart after there has been a third tap, but while the trade is still valid, meaning it should have some more to run. Otherwise, it seems pretty obvious that when the third tap on a short happens, the candle must be green.
******************* I'd rather make money than be right.
I agree, nearly all the answers are in the thread, one just needs to set aside a couple of hours to read through it.

However ... it might not be a bad idea to edit that first post LG, and make it clear that the RSI numbers refer to the face of a CLOCK! It took me a while to figure that out when I first read it as well .. and lots of people are getting stuck there.


Quoting lawgirl21
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.
******************* I'd rather make money than be right.
Very boring PA .. maybe time to work in the garden. But the minute I leave the screen something dramatic will happen I am sure!
I'm long USDCHF on that 3rd tap of 4h candle, stop now at b/e.

And it is probably too early, but I am long UJ because I can put stop under the recent historic low (25 pips away from my entry) and because I do not want to short it since BoJ could decide to intervene again at any minute, like they did a couple of weeks ago.
******************* I'd rather make money than be right.
Hi All

I did take a ride on the Eur/Usd BO. I got in a bit late but took a +30 pip out of it.

Just realised why I missed most of it. I was treating it like the H1 breakout, completely missed the 3 tap.
Quoting 4xStar
Hmm .. this discussion of candle color on the 3rd tap means you're supposed to wait for the 3rd tap 4h candle to close?? I thought once you had the two taps connected with TL, you just waited for price to touch that line again & take the trade, putting stop just above (or below) TL depending on direction. That's how I've been doing it ... obviously also watching for other signals that do not show conflict. Am I supposed to be waiting for that 3rd tap candle to close completely? Looks like you could miss some moves that way... ??
You are correct. I did not want to start talking about candle color and don't think we should get hung up on it. Third tap and enter..more conservative is waiting to confirm PA in desired direction, but you are correct again, that misses much of the move. Have you been making pips with the 3 taps?
Quoting 4xStar
I agree, nearly all the answers are in the thread, one just needs to set aside a couple of hours to read through it.

However ... it might not be a bad idea to edit that first post LG, and make it clear that the RSI numbers refer to the face of a CLOCK! It took me a while to figure that out when I first read it as well .. and lots of people are getting stuck there.

Good advice...I'll do that..
Quoting lawgirl21
... Have you been making pips with the 3 taps?
Yep

Another tool in the toolbox.
******************* I'd rather make money than be right.
Quoting 4xStar
I agree, nearly all the answers are in the thread, one just needs to set aside a couple of hours to read through it.

However ... it might not be a bad idea to edit that first post LG, and make it clear that the RSI numbers refer to the face of a CLOCK! It took me a while to figure that out when I first read it as well .. and lots of people are getting stuck there.
DONE!
Quoting 4xStar
Yep

Another tool in the toolbox.
I'm so glad to hear it!
I think it would be fun to add up the pips made this week for those who wanted to do it. I will start as I am not trading live for the remainder of the week. Take my pip total and add (subtract, hopefully not) to that, next trader takes that number and adds/subtracts, etc.

+146
It's getting late and it's near NY lunch time.
Anyway, I entered this trade and now are waiting to see where the 'trend god' sees the target fits best....
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Quoting AndreasF
It's getting late and it's near NY lunch time.
Anyway, I entered this trade and now are waiting to see where the 'trend god' sees the target fits best....
You should be in the pips!
...just BO.
Thanks for this method! I am a new trader, and have found the less congested a chart is, the better. When I started, I was just basically looking at the charts, marking a few "knocks", and placing trades with the trends. Then I tried to incorporate more and more indicators, and I started losing a lot. I will give this a try, but it's in line with my thinking.
Thanks again!
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Quoting lawgirl21
You should be in the pips!
It looks fine, yes
However we missed USDCHF...

Many thanks for sharing such a an excellent and profitable method, LG!
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