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Trade What You See - Almost Naked Trading

  • #2,021
  • Oct 24, 2010 10:35pm Oct 24, 2010 10:35pm
Quoting duffypratt
Not an engineer. I've had several careers. First I was a film editor. Then a lawyer (and still am). Then I was co-founder of a computer software firm that developed expert systems. For that gig, I worked mostly as a "knowledge engineer". That means I tried to get experts (mostly legal experts) to state clearly the rules that they used for making decisions, and then we worked on modeling those rules in software. Notice any similarity?

I'm fine with a hunch trade, especially when the hunch is based on experience. It's also good to know that that...
Ah..a fellow attorney..explains alot.
  • #2,022
  • Oct 24, 2010 10:46pm Oct 24, 2010 10:46pm
Calling it quits for the night. Will talk tomorrow. Good piping to everyone!
  • #2,023
  • Oct 24, 2010 10:54pm Oct 24, 2010 10:54pm
Quoting duffypratt
I'm glad you made your 18 pips, but I don't understand the trade. From the chart, it looks like the price gapped up, but still within a range. There's a buy line in the middle, and another line above it, I'm assuming that's TP. So, why buy and not sell? You said earlier that you expect gaps to close, but this looks like you are trading against that direction. And why did you enter when you did? Sometimes, reading this thread, I just feel really stupid.
duffy...It appears to me that Lawgirl waited for the gap to be filled and then longed NU to take advantage of the bounce. When the gap came down almost exactly to Friday's close and started the other way the odds were in favour of going long. This type of trade has nothing to do with the method that LG has layed out on this thread but she probably brought it to everyones attention because she just likes to share. Gotta love her for that, there aren't many people like that around.

There are multiple ways to do a gap trade and it's a very popular trading method that a lot of traders use. There are traders that trade nothing but the gaps, from the daily charts down to tic charts. A lot of traders will sell the gap up open and reverse to long when it fills the gap with a close stop below...a dual trade so to speak. This is probably not the type of trade that a NuB trader would want to take on as they can be very tricky and it's easy to get on the wrong side of them. I haven't looked for anything but I would think that there are a lot of gap trading discussions on FF if you would like further insight into them.

You can smack me hands if I'm overstepping here LG...

Edit: Should have read the thread before posting...see I've arrived after the discussion has been taken care of...
Listen to the whispers.... You may learn something
  • #2,024
  • Oct 25, 2010 12:44am Oct 25, 2010 12:44am
Out for 24 pips, very nice!
  • #2,025
  • Oct 25, 2010 1:23am Oct 25, 2010 1:23am
Great thread been following everyone since the 1st post. Was wondering how I can get the currency pairs trend indicator box that shows the trend direction for different time frames? Ive noticed this in several charts that have been posted. Thanx Sniper.
  • #2,026
  • Oct 25, 2010 1:43am Oct 25, 2010 1:43am
USDCHF just broke a TD line , and i am short with trailing stop with 25 pips
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Help to be helped.
  • #2,027
  • Oct 25, 2010 1:51am Oct 25, 2010 1:51am
Quoting Lazar83
USDCHF just broke a TD line , and i am short with trailing stop with 25 pips
I was short on USDCHF quite a while ago and will take the EURCHF short in a few minutes.
Trading Makes Money!
  • #2,028
  • Oct 25, 2010 2:05am Oct 25, 2010 2:05am
be careful daily range is already 120 pips
Help to be helped.
  • #2,029
  • Oct 25, 2010 2:11am Oct 25, 2010 2:11am
Quoting Lazar83
be careful daily range is already 120 pips
My daily range on EURCHF is only 60 pips so far...
Trading Makes Money!
  • #2,030
  • Oct 25, 2010 2:15am Oct 25, 2010 2:15am
sorry my bad, was looking on USDCHF Daily Range...
Help to be helped.
  • #2,031
  • Oct 25, 2010 3:39am Oct 25, 2010 3:39am
Buy setup on H4 with this great trend-following system
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  • #2,032
  • Edited 7:16am Oct 25, 2010 6:19am | Edited 7:16am
When does
Lawgirl usually get here?
  • #2,033
  • Oct 25, 2010 8:16am Oct 25, 2010 8:16am
Morning all! What a good time for pips it's been already. I had 3 trades going when I went to bed and woke up with my TP hit!

USDCAD - +40 pips
USDCHF - + 20 pips
GBPUSD = +20 Total for week = 118

Sounds like you guys made pips too!
  • #2,034
  • Oct 25, 2010 8:18am Oct 25, 2010 8:18am
Didn't get in this one...but hope someone did!
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  • #2,035
  • Oct 25, 2010 8:20am Oct 25, 2010 8:20am
This was pretty nice too! 50+ pips
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  • #2,036
  • Oct 25, 2010 8:22am Oct 25, 2010 8:22am
Didn't do what we thought it would do.
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  • #2,037
  • Oct 25, 2010 8:23am Oct 25, 2010 8:23am
Good for 50+ pips.
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  • #2,038
  • Oct 25, 2010 8:24am Oct 25, 2010 8:24am
Good for 40+ pips
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  • #2,039
  • Oct 25, 2010 8:27am Oct 25, 2010 8:27am
Quoting Scrutch
duffy...It appears to me that Lawgirl waited for the gap to be filled and then longed NU to take advantage of the bounce. When the gap came down almost exactly to Friday's close and started the other way the odds were in favour of going long. This type of trade has nothing to do with the method that LG has layed out on this thread but she probably brought it to everyones attention because she just likes to share. Gotta love her for that, there aren't many people like that around.

There are multiple ways to do a gap trade and it's a very popular...
Thanks for that great explanation of gaps Scrutch...we're going to put it in our arsonal of trading.
  • #2,040
  • Oct 25, 2010 8:28am Oct 25, 2010 8:28am
Quoting pedross
Out for 24 pips, very nice!
Great job..good start of the new trading week!
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