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Trade What You See - Almost Naked Trading

  • #1,881
  • Oct 21, 2010 2:03pm Oct 21, 2010 2:03pm
Hi LG ,
could you explain me what happened on this chart and which trend line is legit? I went long , looking on support line , but the PA went threw the support line...did i draw lines on the wrong way? I am trying to understand , and not to repeat same mistake again . Tnx in advance
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Help to be helped.
  • #1,882
  • Oct 21, 2010 2:16pm Oct 21, 2010 2:16pm
Quoting Lazar83
Hi LG ,
could you explain me what happened on this chart and which trend line is legit? I went long , looking on support line , but the PA went threw the support line...did i draw lines on the wrong way? I am trying to understand , and not to repeat same mistake again . Tnx in advance
It looks to me like the weekly RSI at that point was probably pointing down. Did you confirm that all three TF's were trending up?

If you did, then perhaps you didn't do anything wrong. You can make a perfectly good trade and still have it go against you. It happens all the time. The question is how things will balance out over a longer sequence of trades.
  • #1,883
  • Oct 21, 2010 5:11pm Oct 21, 2010 5:11pm
to be honest , i rushed into the trade , not to miss a train...what a mistake to make , i didnt look for higher TF , only a 4h...but...i cant stop looking to this chart , were the TL correctly drown?
Help to be helped.
  • #1,884
  • Oct 21, 2010 5:29pm Oct 21, 2010 5:29pm
Quoting lawgirl21
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
+133
Reached my goal this week....sitting out live trading now...11 trades with 8 successful & 3 losers.....on 4 pairs...EU, GU, EJ & AU. Thank you, Lawgirl, for providing all of us a way to simplify our trading.
  • #1,885
  • Oct 21, 2010 6:28pm Oct 21, 2010 6:28pm
My most successful trade for the week, a 106 pip BO trade. Thanks again for sharing your method, Lawgirl.


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  • #1,886
  • Oct 21, 2010 7:10pm Oct 21, 2010 7:10pm
Quoting Phx62
+133
Reached my goal this week....sitting out live trading now...11 trades with 8 successful & 3 losers.....on 4 pairs...EU, GU, EJ & AU. Thank you, Lawgirl, for providing all of us a way to simplify our trading.
Great job! You are very welcome!

+279 running total
  • #1,887
  • Edited 8:45pm Oct 21, 2010 7:18pm | Edited 8:45pm
Quoting Lazar83
Hi LG ,
could you explain me what happened on this chart and which trend line is legit? I went long , looking on support line , but the PA went threw the support line...did i draw lines on the wrong way? I am trying to understand , and not to repeat same mistake again . Tnx in advance
Quoting Lazar83
to be honest , i rushed into the trade , not to miss a train...what a mistake to make , i didnt look for higher TF , only a 4h...but...i cant stop looking to this chart , were the TL correctly drown?
Your chart looks fine, you just went the wrong way on the trade, weekly was a strong down. It will help if you make a check list to use until this becomes second nature for you. Put the RSI direction and HTF's at the top of the list, if you don't have this or it doesn't look like it's about to set up, pass on the trade.
The trade was a short just after the 3rd tap...
First in was good for 30+ depending on entry and MM.
Could have covered the trade and outted, if not the stop would have had to be in excess of 40p's to keep you in for the ride.

I missed the first go at the 3T but was watching it when it started pushing for the 4T. I used the M5 (yeah, don't say it LG... ) to watch PA and entered on the break of the trend line when the next push up collapsed. Fat side of 100p's. Showing the H1 chart for clairity but if you go to the M5 you should be able to see what I was looking at. Not everyone can trade off a M5 but should be able to handle the M15...M30 easily enough.
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Listen to the whispers.... You may learn something
  • #1,888
  • Oct 21, 2010 7:32pm Oct 21, 2010 7:32pm
Quoting Scrutch
Your chart looks fine, you just went the wrong way on the trade, weekly was a strong down. It will help if you make a check list to use until this becomes second nature for you. Put the RSI direction and HTF's at the top of the list, if you don't have this or it doesn't look like it's about to set up, pass on the trade.
The trade was a short just after the 3rd tap...
First in was good for 30+ depending on entry and MM.
Could have covered the trade and outted, if not the stop would have had to be in excess of 40p's to keep you in for the ride.

I...
Excellent analysis for us, Scrutch. I will sometimes enter on the M5 chart after everything has fallen into place. Probably your recommendation to use M15 is best for newer traders I think. You must have had at least a 200 pip week! Maybe I should up my weekly goal!
  • #1,889
  • Oct 21, 2010 7:51pm Oct 21, 2010 7:51pm
Quoting lawgirl21
Great job! You are very welcome!

+279 running total
I have 114 to add, so 393 and running. Also have one open yet with 10 protected, but won't add that yet. Best week with live account. Thanx for the support & info LG and all.
  • #1,890
  • Oct 21, 2010 8:18pm Oct 21, 2010 8:18pm
Quoting Scrutch
Your chart looks fine, you just went the wrong way on the trade, weekly was a strong down.... The trade was a short just after the 3rd tap...
It's helpful if people would put the pair under discussion in the title line. Also, for those of us learning to determine the trend, it would help if people would identify the direction they're entering the trade. Then we can compare our take on it with theirs and maybe have one more clue as to where we went right or wrong.
  • #1,891
  • Oct 21, 2010 8:35pm Oct 21, 2010 8:35pm
Quoting lawgirl21
Excellent analysis for us, Scrutch. I will sometimes enter on the M5 chart after everything has fallen into place. Probably your recommendation to use M15 is best for newer traders I think. You must have had at least a 200 pip week! Maybe I should up my weekly goal!
Hmmm, that's a very conservative figure...a bit low for today even.
Longed the EC a bit ago on the 6T (it's a 3T on the daily) and it's off and running, course the Auz news helped a lot and Yank news is coming up in about 10m so I need to watch that, perhaps on the M1 . Have taken first position off at 30+ and tightened me protective stop.

If you are trading a single mini lot size then I think your target is a bit on the conservative side as well. Pretty easy to nail 60p's a day for a weekly of 300p's. That's only two to five trades a day. I don't quit at a certain amount...but I do move to A+++ trades after reaching my daily goal. If I don't make my daily book today then perhaps I go over it tomorrow or was over it yesterday. I look at a certain percentage gain on a monthly basis and I use a very tight MM process.

I can't truthfully play your pip count game as a lot of my trades are not strictly by this method, but I do try to post only trades from this method here.
Listen to the whispers.... You may learn something
  • #1,892
  • Oct 21, 2010 8:48pm Oct 21, 2010 8:48pm
Quoting mary4x
It's helpful if people would put the pair under discussion in the title line. Also, for those of us learning to determine the trend, it would help if people would identify the direction they're entering the trade. Then we can compare our take on it with theirs and maybe have one more clue as to where we went right or wrong.
My bad Mary, it was an oversight on my part......fixed it.
I did clairify the direction of the trend and trade though......one out of two = 50%
Listen to the whispers.... You may learn something
  • #1,893
  • Oct 21, 2010 10:09pm Oct 21, 2010 10:09pm
Quoting dmostpips

I have 114 to add, so 393 and running. Also have one open yet with 10 protected, but won't add that yet. Best week with live account. Thanx for the support & info LG and all.
Excellent...I am so happy you are making money..what it's all about.
  • #1,894
  • Oct 21, 2010 10:10pm Oct 21, 2010 10:10pm
+393
  • #1,895
  • Oct 21, 2010 10:14pm Oct 21, 2010 10:14pm
Quoting Scrutch
Hmmm, that's a very conservative figure...a bit low for today even.
Longed the EC a bit ago on the 6T (it's a 3T on the daily) and it's off and running, course the Auz news helped a lot and Yank news is coming up in about 10m so I need to watch that, perhaps on the M1 . Have taken first position off at 30+ and tightened me protective stop.

If you are trading a single mini lot size then I think your target is a bit on the conservative side as well. Pretty easy to nail 60p's a day for a weekly of 300p's. That's only two to five trades a day. I...
Are you a full time trader?
  • #1,896
  • Oct 21, 2010 10:45pm Oct 21, 2010 10:45pm
H1 4 candle BO trade short
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  • #1,897
  • Oct 21, 2010 10:46pm Oct 21, 2010 10:46pm
Quoting ramik
It's early in the morning but looks nice
Tell us what it's nice for... long... short? Your chart is hard to read.
  • #1,898
  • Oct 21, 2010 10:55pm Oct 21, 2010 10:55pm
Hi Lawgirl, I want to ask one question. We should see all 3 timeframe RSI showing one direction, but normally H4 RSI can not show the same direction as weekly and daily, because H4 candle correct itseff to trendline. Are weekly and daily RSI confirmation enough for set up? Thank you,
  • #1,899
  • Oct 21, 2010 10:58pm Oct 21, 2010 10:58pm
Quoting lawgirl21
Are you a full time trader?
At time yes, I have other things that I really enjoy and do for select clients. I've never really considered myself a full time trader but there are days when that's all I do. Spent about 12hr today trading, with breaks of course...so perhaps 8 or 10 hours total. Trading becomes very boring after you get the hang of it and as you mentioned several times...it's becomes a bit scary when you start talking to yourself, well not your exact words. That's why I'm here...trying out a new method and still looking for others from time to time.
Your method is great btw.

Still holding a position in EC and watching on the M5...if we get a couple of solid closes above 3489 on the M30 it may try to push to the 3520 area. If it starts to push the H4 and D1 should roll up and give a green light for me to add in. D1 is up at the moment but a bit on the weak side and while W1 is down it should only take a move above the prior highs to roll it up as well.
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Listen to the whispers.... You may learn something
  • #1,900
  • Oct 22, 2010 2:04am Oct 22, 2010 2:04am
Quoting lawgirl21
H1 4 candle BO trade short
That was an excellent trade, LG.
It shows once again how powerful trend trading is when all 3 TF are in agreement.
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