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Trade What You See - Almost Naked Trading

  • #2,141
  • Oct 25, 2010 9:11pm Oct 25, 2010 9:11pm
Quoting lawgirl21
This trade is now a H1 4 candle BO trade.
GBPUSD

I am realllllllly not liking this pair this week!
  • #2,142
  • Oct 25, 2010 9:12pm Oct 25, 2010 9:12pm
Still in LG? PA reversing now...
  • #2,143
  • Oct 25, 2010 9:14pm Oct 25, 2010 9:14pm
hi lawgirl~ greatly appreciate for ur sharing
this might be a stupid question.. hope u understand since im still kinda newbie in forex.
how do u set up ur RSI? i mean period 3 i get that but my RSI shows different numbers next to period 3, urs something like 20.4898 and mines something around 63.86... hmm...
i need to know what else i need to adjust on my RSI to look just like urs..

i have currently made a transition to live trading using john's 1-2-3 set ups... i thought i was having consistency on demo but its a whole different story on live trading...
im goin to use ur strategy on my demo, it seems very simple and make sence and i get the concept(most important thing when trading.. we have to know what we are doing)

if u dont mind me askin.. how was ur winnin percentage usin this setup?
  • #2,144
  • Oct 25, 2010 9:21pm Oct 25, 2010 9:21pm
Quoting lawgirl21
GBPUSD

I am realllllllly not liking this pair this week!
What was it you told me LG? Gotta sit on the sidelines, even though it's hard!! You made a good few trades overnight right? Nearly/Have already hit your weekly target? Perhaps only take those trades which look "perfect" as it's still only the beginning of the week, plenty to be had!

As for the GU, rewarded me nicely yesterday taking a long for +70 Currently in a long EURAUD. Will post a screenshot soon, but if you flip to the H4 chart you'll see the decent support we recently hit.

It's kinda looking like the last couple of weeks of the AUDJPY all over again!
  • #2,145
  • Oct 25, 2010 9:23pm Oct 25, 2010 9:23pm
Quoting pedross
Still in LG? PA reversing now...
No I got out with 9 pips.
  • #2,146
  • Oct 25, 2010 9:27pm Oct 25, 2010 9:27pm
Quoting pierre23
What was it you told me LG? Gotta sit on the sidelines, even though it's hard!! You made a good few trades overnight right? Nearly/Have already hit your weekly target? Perhaps only take those trades which look "perfect" as it's still only the beginning of the week, plenty to be had!

As for the GU, rewarded me nicely yesterday taking a long for +70 Currently in a long EURAUD. Will post a screenshot soon, but if you flip to the H4 chart you'll see the decent support we recently hit.

It's kinda looking like the last couple of weeks...
You are right. I have gone over my weekly target already. We have been following the rules with GU though, and it has not cooperated...just the way the market is sometimes.
  • #2,147
  • Oct 25, 2010 9:27pm Oct 25, 2010 9:27pm
Just curious LG, what was your reason for bailing at +9?
  • #2,148
  • Oct 25, 2010 9:31pm Oct 25, 2010 9:31pm
Quoting pedross
Just curious LG, what was your reason for bailing at +9?
It was up around +15 pips then turned around and I did not want to let a winning trade turn into a loser...especially since I had already lost 35 pips on this pair today.
  • #2,149
  • Oct 25, 2010 9:37pm Oct 25, 2010 9:37pm
Quoting pierre23
What was it you told me LG? Gotta sit on the sidelines, even though it's hard!! You made a good few trades overnight right? Nearly/Have already hit your weekly target? Perhaps only take those trades which look "perfect" as it's still only the beginning of the week, plenty to be had!

As for the GU, rewarded me nicely yesterday taking a long for +70 Currently in a long EURAUD. Will post a screenshot soon, but if you flip to the H4 chart you'll see the decent support we recently hit.

It's kinda looking like the last couple of weeks...
I'm not seeing any trend here..why are you long?
  • #2,150
  • Oct 25, 2010 9:39pm Oct 25, 2010 9:39pm
Hi All,

From my point of view, GU is now trap inside triangle. Its in downtrend now and if buying GU is against the trend. For me i will look for sell trade instead of buy trade, until the price drop to previous low to form triple bottom.

Focus + Patient + Discipline = Success, ( Fx_Prince )
Attached Image (click to enlarge)
Click to Enlarge Name: Untitled.jpg Size: 90 KB
  • #2,151
  • Oct 25, 2010 9:43pm Oct 25, 2010 9:43pm
Potential BO trade here... what do you think?

Attached Image (click to enlarge)
Click to Enlarge Name: gg.jpg Size: 100 KB
  • #2,152
  • Oct 25, 2010 9:43pm Oct 25, 2010 9:43pm
Quoting pierre23
As for the GU, rewarded me nicely yesterday taking a long for +70
Hi Pierre,

Can you explain the long GU trade of yesterday?

Thanks,


fxtsun
___________________________________
"Chance favours the prepared mind" - Louis Pasteur
  • #2,153
  • Oct 25, 2010 9:54pm Oct 25, 2010 9:54pm
Quoting lawgirl21
I'm not seeing any trend here..why are you long?
Attached chart. Disregard the blue channel lines. Blue box is a resistance area (I remember a few weeks ago you traded near this area LG, I've posted this chart before with this area of resistance). Price bouncing off support shown by red line. I'm long at green dotted line.

Purely a Range trade off support. SL is 100pips... it's an emergency stop. If it breaks support and closes lower I'll close position and cut my losses.
Attached Image (click to enlarge)
Click to Enlarge Name: ea-long.jpg Size: 119 KB
  • #2,154
  • Oct 25, 2010 9:55pm Oct 25, 2010 9:55pm
Quoting pedross
Potential BO trade here... what do you think?

Attachment
I'm seeing mixed signals.
  • #2,155
  • Oct 25, 2010 10:00pm Oct 25, 2010 10:00pm
Quoting pierre23
Attached chart. Disregard the blue channel lines. Blue box is a resistance area (I remember a few weeks ago you traded near this area LG, I've posted this chart before with this area of resistance). Price bouncing off support shown by red line. I'm long at green dotted line.

Purely a Range trade off support. SL is 100pips... it's an emergency stop. If it breaks support and closes lower I'll close position and cut my losses.
Oh I like trades like that and I remember that chart. You have really analysized well and with patience this should be a good trade. Keep us posted.
  • #2,156
  • Oct 25, 2010 10:02pm Oct 25, 2010 10:02pm
Quoting Fx_Prince
Hi All,

From my point of view, GU is now trap inside triangle. Its in downtrend now and if buying GU is against the trend. For me i will look for sell trade instead of buy trade, until the price drop to previous low to form triple bottom.

Focus + Patient + Discipline = Success, ( Fx_Prince )
I'm leaving it alone for awhile until it really decides what it wants to do. Too many other good pairs setting up.
  • #2,157
  • Oct 25, 2010 10:04pm Oct 25, 2010 10:04pm
Hi lawgirl. I used to be an active member here until eventually I realised that there is much more to trading than I thought. Its a long road of harsh learning. The statement 'you have to find the trees through the forest '(something like that) is very true. I still have much more to learn. I have a couple of strategys, if thats what you could call them, that produce small amounts of profit, but for the risk I decided my money was better in a bank. Im not interested in earning 2-3% for risking thousands that I dont really have.

Sorry to go on, I dont mean to detract from this thread...

I have enjoyed reading your thread in particular, not for the methods you have freely given, but for an insight into how an intelligent/analytical person looks at the market. I see you joined this forum about a year ago, and in that time you have a clear understanding of things and have been able to cut through the garbage out there very quickly. I wish I had your abilities, but its taken me many years to come to the conclusion that the forex market is so chaotic that substantial and viable profits cannot consistenly come in... Im not saying its not possible and I believe you are a very truthfull person, but im saying it takes a special person to do what your doing.

Anyway, the real reason Im posting is because I was interested in why you would want to trade the forex market when you have a very good job as an attorny?
Also do you still work as an attorny or are you trading full time now?
Which do you prefere?

Personally I would much rather make christmas cards all day every day than to trade to earn the same money.. but I suppose we are all different.

I understand if you would rather not answer these questions, its totally acceptable, I am just interested to know.

I hope you get out of this thread as much as you have been giving.
  • #2,158
  • Oct 25, 2010 10:05pm Oct 25, 2010 10:05pm
Quoting fxtsun
Hi Pierre,

Can you explain the long GU trade of yesterday?

Thanks,


fxtsun
___________________________________
"Chance favours the prepared mind" - Louis Pasteur
Sure mate, see attached screenshot. Sorry, may be a little hard to see... Red lines are a weekly channel (go to the weekly chart you'll see it clearly).

Support at thick green line + price at lower channel is what made me take a long. I've shown a daily screenshot, but have a look at the H4, it shows the recent Support area more clearly.. Went long at dotted green line and managed 70 out of this trade.
Attached Image (click to enlarge)
Click to Enlarge Name: gu-long.jpg Size: 110 KB
  • #2,159
  • Oct 25, 2010 10:13pm Oct 25, 2010 10:13pm
Quoting pierre23
Sure mate, see attached screenshot. Sorry, may be a little hard to see... Red lines are a weekly channel (go to the weekly chart you'll see it clearly).

Support at thick green line + price at lower channel is what made me take a long. I've shown a daily screenshot, but have a look at the H4, it shows the recent Support area more clearly.. Went long at dotted green line and managed 70 out of this trade.
Couldn't be more simpler than that

Sometimes we look for more reasons than we need to.

Thanks for clarifying.


fxtsun
___________________________________
"Chance favours the prepared mind" - Louis Pasteur
  • #2,160
  • Oct 25, 2010 10:20pm Oct 25, 2010 10:20pm
Quoting fxtsun
Couldn't be more simpler than that

Sometimes we look for more reasons than we need to.

fxtsun
___________________________________
"Chance favours the prepared mind" - Louis Pasteur
It's true, just keep it simple and don't get hung up on trades that don't go your way. There is such a thing as over-analysing and sometimes it confuses more than it helps
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