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Trade What You See - Almost Naked Trading

  • #2,181
  • Oct 26, 2010 7:31am Oct 26, 2010 7:31am
Quoting mg_vinodkuma
Hello Lawgirl,

First,thanks for sharing this method and i see most of them get success with this method.I read this thread over the weekend and i am trying only H1 4 candle breakout.

In demo, today i placed trade on H1 4 candle breakout,but the trade went against me.Attached is chart,pls guide how to avoid such situation.

RSI on H4,W1,H1,M15 was down,but everything got changed suddenly.

Regards
Kumar
Kumar, it looks like PA never really BO short only peaked through the support line.
  • #2,182
  • Oct 26, 2010 7:36am Oct 26, 2010 7:36am
Lawgirl,

thanks for your kind reply.After drawing S/R from H1 4 candles.I switched my chart to 15M.After i saw a candle close outside Support line.I took the trade.Am i doing wrong ? Do we need to wait for the H1 candle to get closed outside Support / Resistence line ?

Regards
Kumar
Dragon the best Indicator
  • #2,183
  • Oct 26, 2010 7:41am Oct 26, 2010 7:41am
Quoting Lazar83
perfect 3 taps , on TL , and i am out with + 40 pips !
btw i was practicing on lower TF , like 15 , 30 min , and 3 taps works like charm ! Lg u are a genius !
It doesn't get much prettier than that...everything perfect! On the lower TFs, if you enter on the M15, are you looking to have the M30 and H1 confirm direction?
  • #2,184
  • Oct 26, 2010 7:45am Oct 26, 2010 7:45am
Quoting mg_vinodkuma
Lawgirl,

thanks for your kind reply.After drawing S/R from H1 4 candles.I switched my chart to 15M.After i saw a candle close outside Support line.I took the trade.Am i doing wrong ? Do we need to wait for the H1 candle to get closed outside Support / Resistence line ?

Regards
Kumar
No, you did exactly right. If you waited for a close on M15 completely outside the support line, you followed the rules. The only thing would have been to wait a little longer to further confirm direction. Sometimes the market does not go our way. But waiting another 15-30 mins. may have been enough time to notice the direction change on the RSI.
  • #2,185
  • Oct 26, 2010 7:52am Oct 26, 2010 7:52am
Quoting lawgirl21
No, you did exactly right. If you waited for a close on M15 completely outside the support line, you followed the rules. The only thing would have been to wait a little longer to further confirm direction. Sometimes the market does not go our way. But waiting another 15-30 mins. may have been enough time to notice the direction change on the RSI.
Lawgirl you mean complete candle close outside the box?
  • #2,186
  • Oct 26, 2010 7:55am Oct 26, 2010 7:55am
Quoting Pip26
Lawgirl you mean complete candle close outside the box?
Yes..completely outside the box.
  • #2,187
  • Oct 26, 2010 8:04am Oct 26, 2010 8:04am
I think the biggest thing we all have to remember here is that LG's thread is "almost naked" trading and is therefore heavily biased towards PA not RSI, BO boxes, etc. These are there to help find set-ups but we must remember that this is not a mechanical strategy. PA rules and therefore there will always be a need for trader discretion - even when all the stars align
Also, even when we do think we have the perfect set-up, the mkt can still kick our ass. We will never get 100%, so need to take the hit and move on.
  • #2,188
  • Oct 26, 2010 8:09am Oct 26, 2010 8:09am
Quoting lawgirl21
Yes..completely outside the box.
thnx lawgirl got it....
  • #2,189
  • Oct 26, 2010 8:09am Oct 26, 2010 8:09am
Quoting Ph22
I think the biggest thing we all have to remember here is that LG's thread is "almost naked" trading and is therefore heavily biased towards PA not RSI, BO boxes, etc. These are there to help find set-ups but we must remember that this is not a mechanical strategy. PA rules and therefore there will always be a need for trader discretion - even when all the stars align
Also, even when we have the pefrect set-ups, the mkt can still kick our ass. We will never get 100%, so need to take the hit and move on.
You really summed everything up beautifully. I am going to mark this comment and come back to it often to remind myself and others that sometimes our very best efforts are just not enough....but thankfully, often they are.
  • #2,190
  • Oct 26, 2010 8:12am Oct 26, 2010 8:12am
Quoting Ph22
I think the biggest thing we all have to remember here is that LG's thread is "almost naked" trading and is therefore heavily biased towards PA not RSI, BO boxes, etc. These are there to help find set-ups but we must remember that this is not a mechanical strategy. PA rules and therefore there will always be a need for trader discretion - even when all the stars align
Also, even when we do think we have the perfect set-up, the mkt can still kick our ass. We will never get 100%, so need to take the hit and move on....
Yes Ph22 agree with u.. but i think learning steps in forex never ends so keep asking and keep learning
  • #2,191
  • Oct 26, 2010 8:12am Oct 26, 2010 8:12am
Quoting lawgirl21
You really summed everything up beautifully. I am going to mark this comment and come back to it often to remind myself and others that sometimes our very best efforts are just not enough....but thankfully, often they are.
Thanks LG
  • #2,192
  • Oct 26, 2010 8:13am Oct 26, 2010 8:13am
Quoting Pip26
Yes Ph22 agree with u.. but i think learning steps in forex never ends so keep asking and keep learning
Absolutely!
  • #2,193
  • Oct 26, 2010 8:19am Oct 26, 2010 8:19am
Who is in any trades? I am in only one.. EURUSD which is doing pretty well.
  • #2,194
  • Oct 26, 2010 8:23am Oct 26, 2010 8:23am
Quoting lawgirl21
Who is in any trades? I am in only one.. EURUSD which is doing pretty well.
Am in AUDUSD short and USDCAD long, both up 20 or so pips. SL at BE and profit targets set. Lets see what happens. Taken off some profit on both.

I did get trapped in an EURAUD long and EURCAD long. Both had to be closed at a loss. Would you have gotten faked into those two as well, LG?
Trading Makes Money!
  • #2,195
  • Oct 26, 2010 8:24am Oct 26, 2010 8:24am
Quoting Ph22
I think the biggest thing we all have to remember here is that LG's thread is "almost naked" trading and is therefore heavily biased towards PA not RSI, BO boxes, etc. These are there to help find set-ups but we must remember that this is not a mechanical strategy. PA rules and therefore there will always be a need for trader discretion - even when all the stars align
Also, even when we do think we have the perfect set-up, the mkt can still kick our ass. We will never get 100%, so need to take the hit and move on....
Yes, I totally AGREE!
  • #2,196
  • Oct 26, 2010 8:27am Oct 26, 2010 8:27am
Quoting Cencored
Am in AUDUSD short and USDCAD long, both up 20 or so pips. SL at BE and profit targets set. Lets see what happens. Taken off some profit on both.

I did get trapped in an EURAUD long and EURCAD long. Both had to be closed at a loss. Would you have gotten faked into those two as well, LG?
Here's how my chart looks..absolutely no movement. So no, I would not have gotten into a long trade.
Attached Image (click to enlarge)
Click to Enlarge Name: 4x.gif Size: 15 KB
  • #2,197
  • Oct 26, 2010 8:29am Oct 26, 2010 8:29am
I am in this almost @ my TP 0f 50pips
Attached Image (click to enlarge)
Click to Enlarge Name: ej.JPG Size: 107 KB
  • #2,198
  • Oct 26, 2010 8:30am Oct 26, 2010 8:30am
Trade of the day was certainly EURGBP. I love that pair. You almost get double the pip value (or lose double for that matter ).
There was a perfect entry on m15 and it went down without much resistance to the move...
Trading Makes Money!
  • #2,199
  • Oct 26, 2010 8:32am Oct 26, 2010 8:32am
Quoting lawgirl21
Who is in any trades? I am in only one.. EURUSD which is doing pretty well.
Not in any trades currently, but Ive pulled +62 pips on eur/usd and +18 pips on usd/jpy. Your stradegy is pretty awsome and this is a great forum that Ive followed since your first post. I appreciate everyone here and hope to be able to contribute myself one day. Thanks to everyone.
  • #2,200
  • Oct 26, 2010 8:34am Oct 26, 2010 8:34am
Quoting forxsniper1
Not in anytrades currently, but Ive pulled +62 pips on eur/usd and +18 pips on usd/jpy. Your stradegy is pretty awsome and this is a great forum that Ive followed since your first post. I appreciate everyone here and hope to be able to contribute myself one day. Thaks to everyone.
Well done forxsniper! If u have pulled 80 pips in one session/day then u can feel free to contribute NOW!
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