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Trade What You See - Almost Naked Trading

  • #1,981
  • Oct 24, 2010 7:39pm Oct 24, 2010 7:39pm
Quoting rovver
Subscribe to the thread. I found this is interesting. Thanks

You are welcome..glad you are joining us.
  • #1,982
  • Oct 24, 2010 7:54pm Oct 24, 2010 7:54pm
Quoting lawgirl21
THE CHART LOVERS METHOD

I am starting this thread for those of us who love charts..watching them...studying them...analyzing them and of course, making money from them.

My system is simple. It is a basic trend following one using the weekly, daily and H4 charts. I have made a goodly amount of money using this system, although I cannot say that I "discovered" it.

I have traded forex for approximately 4 years, have lost more than a few thousand dollars, have responded to more than one $99 special...
Agree with your trading method.
  • #1,983
  • Oct 24, 2010 8:08pm Oct 24, 2010 8:08pm
Quoting lawgirl21
AUDUSD...Out with +30 pips.
Quoting lawgirl21
NZDUSD...Out with +18 pips.

Looks like you're on a roll this evening.
Not that far away from 60 are you?
Listen to the whispers.... You may learn something
  • #1,984
  • Oct 24, 2010 8:09pm Oct 24, 2010 8:09pm
There are lots of pairs setting up..
  • #1,985
  • Oct 24, 2010 8:11pm Oct 24, 2010 8:11pm
Quoting Scrutch

Looks like you're on a roll this evening.
Not that far away from 60 are you?
No, but 100 is my goal. Thinking about what you said last week and may be raising it.
  • #1,986
  • Oct 24, 2010 8:14pm Oct 24, 2010 8:14pm
Quoting lawgirl21
No, but 100 is my goal. Thinking about what you said last week and may be raising it.
Yeah, but 100 was your weekly...I suggested about 60 per day which would raise your weekly to 300.
Half a dozen full size * 300 would make a very nice weekly income.
Listen to the whispers.... You may learn something
  • #1,987
  • Oct 24, 2010 8:19pm Oct 24, 2010 8:19pm
Not part of this threads method but...a perfect gap fill on the EURAUD and then pooofffhh, they pull the rug.
Listen to the whispers.... You may learn something
  • #1,988
  • Oct 24, 2010 8:25pm Oct 24, 2010 8:25pm
Quoting Scrutch
Yeah, but 100 was your weekly...I suggested about 60 per day which would raise your weekly to 300.
Half a dozen full size * 300 would make a very nice weekly income.
Indeed..My goal has been 100 per week at 2 full contracts..or... how I like to think of it is to average $500 per day, 4 days per week ..or 25 pips per day....certainly doable.

Sixty pips per day is doable too, but lots more work, isn't it?
  • #1,989
  • Oct 24, 2010 8:28pm Oct 24, 2010 8:28pm
Quoting lawgirl21
Indeed..My goal has been 100 per week at 2 full contracts..or... how I like to think of it is to average $500 per day, 4 days per week ..or 25 pips per day....certainly doable.
You say you trade 4 days a week, LG. Which day do you take off - Friday?
Trading Makes Money!
  • #1,990
  • Oct 24, 2010 8:28pm Oct 24, 2010 8:28pm
Quoting Scrutch
Not part of this threads method but...a perfect gap fill on the EURAUD and then pooofffhh, they pull the rug.
I like them. I talked about them earlier. Do you look for them too?
  • #1,991
  • Oct 24, 2010 8:30pm Oct 24, 2010 8:30pm
Quoting Cencored
You say you trade 4 days a week, LG. Which day do you take off - Friday?
No, no...I trade from market open on Sunday afternoons, my time, to Friday morning. That is just an average I like to hit.
  • #1,992
  • Oct 24, 2010 8:36pm Oct 24, 2010 8:36pm
H1 4 candle BO set-up
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  • #1,993
  • Oct 24, 2010 8:39pm Oct 24, 2010 8:39pm
Quoting lawgirl21
Indeed..My goal has been 100 per week at 2 full contracts..or... how I like to think of it is to average $500 per day, 4 days per week ..or 25 pips per day....certainly doable.

Sixty pips per day is doable too, but lots more work, isn't it?
Don't know if I fully understand here...? The 100 (or 300) per week should be just that, regardless of the size of the lots...so if you're doing 100 per week the total with 2 lots (micro, mini or full) would be 200. My thinking on this comes from trading futures and indices. I think that 60 per day is very doable, a bit on the conservitive side from my perspective.

So if you're doing 25 per day now (is that calculated on 1 lot size or a 2 lot size?) aim for 30 or 35 per day. Good rule of thumb is if you can mantain that for one or two months it's time to raise the bar.

None of us really remember the first part of out learning experience but it went like this.
Wiggling...Turning Over...Crawling...Scooting...Hands and Knees...Walking...Troting...Running...Sprinting.
It all takes time and the markets are not going anywhere so you don't have to do it all in a few days.
Listen to the whispers.... You may learn something
  • #1,994
  • Oct 24, 2010 8:42pm Oct 24, 2010 8:42pm
Quoting lawgirl21
I like them. I talked about them earlier. Do you look for them too?
Yeah, love em...was watching all the pairs connected with the Auz because of the news and most of them were saweeet.
They did the ole bump and fill and then 'bang' it the other way and catch em napping.
Listen to the whispers.... You may learn something
  • #1,995
  • Oct 24, 2010 8:45pm Oct 24, 2010 8:45pm
Quoting Scrutch
Don't know if I fully understand here...? The 100 (or 300) per week should be just that, regardless of the size of the lots...so if you're doing 100 per week the total with 2 lots (micro, mini or full) would be 200. My thinking on this comes from trading futures and indices. I think that 60 per day is very doable, a bit on the conservitive side from my perspective.

So if you're doing 25 per day now (is that calculated on 1 lot size or a 2 lot size?) aim for 30 or 35 per day. Good rule of thumb is if you can mantain that for one or two months it's...
I generally average 25 pips per day at $20 per pip x 4 days per week = $2000 per week. I could raise that to 30-35 per day average without a problem.
  • #1,996
  • Oct 24, 2010 8:47pm Oct 24, 2010 8:47pm
In the money now...
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  • #1,997
  • Oct 24, 2010 8:56pm Oct 24, 2010 8:56pm
Quoting lawgirl21
I generally average 25 pips per day at $20 per pip x 4 days per week = $2000 per week. I could raise that to 30-35 per day average without a problem.
Excellent......Try to maintain that for a month or two and decide if you're ready to raise the bar.
More than one way to go from there...You can either stay at the per day value and raise the lot size or keep the lot size the same and raise the per day value. If you move up the per day value you might consider setting two goals, the first goal would be what you have maintained for the preceding month(s) and the second goal would only be accomplished through A+++ trades.
Personal opinion is that it seems to add more stress as the lot size increases...more so than trying to raise the pip count. You won't have any trouble knowing when you've reached your maximum lot size, your stomach will let you know.
Listen to the whispers.... You may learn something
  • #1,998
  • Oct 24, 2010 9:05pm Oct 24, 2010 9:05pm
Quoting lawgirl21
In the money now...
I'm seeing fair resistance around 5750ish, I've moved to the M5 to watch the PA. No more news for several hours.
Listen to the whispers.... You may learn something
  • #1,999
  • Oct 24, 2010 9:07pm Oct 24, 2010 9:07pm
Quoting Cencored
You say you trade 4 days a week, LG. Which day do you take off - Friday?
And when do you sleep?
  • #2,000
  • Oct 24, 2010 9:12pm Oct 24, 2010 9:12pm
Quoting Scrutch
Excellent......Try to maintain that for a month or two and decide if you're ready to raise the bar.
More than one way to go from there...You can either stay at the per day value and raise the lot size or keep the lot size the same and raise the per day value. If you move up the per day value you might consider setting two goals, the first goal would be what you have maintained for the preceding month(s) and the second goal would only be accomplished through A+++ trades.
Personal opinion is that it seems to add more stress as the lot size increases...more...
You are right about that... 2 lots is my limit, I learned the hard way that my peace of mind would not tolerate more. Have been at 2 lots profitably for probably a year. I worry about greed in myself is why I have kept to the 100 pip weekly goal. I like your A+++ trade suggestion though. Last week I had met my goal by Wednesday morning and only traded demo the rest of the week. That is much less interesting than live trading. Not sure I can pick an A+++ trade though.
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