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Trade What You See - Almost Naked Trading

  • #2,281
  • Oct 26, 2010 6:45pm Oct 26, 2010 6:45pm
Quoting lawgirl21
I'm still short this pair. Took half off table. Letting the other half ride. Up about 75 pips now.
Hi LG,
Well done.
Was it a BO trade? If I have stayed up I would have got in on that trade. It happened past midnight our time. Also I was tired, having worked early that day.
Anyway will try to do better next time.
MayinFx
  • #2,282
  • Oct 26, 2010 6:47pm Oct 26, 2010 6:47pm
Oh, and one more thing - how do you avoid false BO? How many pips away from the BO line do you put your Buy/Sell order?
  • #2,283
  • Oct 26, 2010 7:24pm Oct 26, 2010 7:24pm
Quoting The Sage
Hey LG,

Thanks for the posts - I found it all very interesting.

My question is: What should I do if the 3rd Tap goes through the trend line. See for example eur/jpy H4 now
It's not a valid 3rd tap. Redraw the TL.
  • #2,284
  • Oct 26, 2010 7:30pm Oct 26, 2010 7:30pm
Quoting MayinFx
Hi LG,
Well done.
Was it a BO trade? If I have stayed up I would have got in on that trade. It happened past midnight our time. Also I was tired, having worked early that day.
Anyway will try to do better next time.
MayinFx
No, it was a 3 tap H4 trade taken about 16 hours ago on the 3rd tap. See red vertical line on chart.
Attached Image (click to enlarge)
Click to Enlarge Name: 4x.gif Size: 15 KB
  • #2,285
  • Oct 26, 2010 7:32pm Oct 26, 2010 7:32pm
Quoting The Sage
Oh, and one more thing - how do you avoid false BO? How many pips away from the BO line do you put your Buy/Sell order?
You can't totally avoid false BOs, but you can wait longer to get into a trade to observe PA...say wait for 2-3 M15 candle closes instead of just one.
  • #2,286
  • Oct 26, 2010 7:33pm Oct 26, 2010 7:33pm
Hi LawGirl.

I just want to confirm and double check whether 3 taps is still valid for USDCHF weekly chart as shared below;

http://www.forexfactory.com/attachme...1&d=1288139471
[IMG]file:///C:/Users/izani/AppData/Local/Temp/moz-screenshot.png[/IMG]
Attached Image (click to enlarge)
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  • #2,287
  • Oct 26, 2010 7:33pm Oct 26, 2010 7:33pm
Quoting pierre23
The 4hour candle just closed ON the support line (on my chart) just then. Kinda dangerous as you can see, because the last 4 times price was at this area it just bounced off of it as well as there's no strong reaction around this point anymore (it's floating around this line too long).

Yellow arrow is the candle I entered on, profit to be had however due to work I had to leave the chart a TP which never got hit (TP @ bottom of blue resistance box). I will observe for some momo upward.. if none, I'll cut my losses short!

Edit: Just realised...
Negative AUD figures!! Price skyrocketting! Hope you guys are short AUD/xxx and long xxx/AUD pairs!
  • #2,288
  • Oct 26, 2010 7:34pm Oct 26, 2010 7:34pm
Quoting MayinFx
Hi LG,
Well done.
Was it a BO trade? If I have stayed up I would have got in on that trade. It happened past midnight our time. Also I was tired, having worked early that day.
Anyway will try to do better next time.
MayinFx
Don't ever worry about missing a particular trade. There will so many more that you won't remember the missed ones.
  • #2,289
  • Oct 26, 2010 7:38pm Oct 26, 2010 7:38pm
Quoting pierre23
Negative AUD figures!! Price skyrocketting! Hope you guys are short AUD/xxx and long xxx/AUD pairs!
E/A TP hit +51pips.. can thank the news release for that.. I feel like I've cheated though
  • #2,290
  • Oct 26, 2010 7:39pm Oct 26, 2010 7:39pm
Quoting pierre23
Negative AUD figures!! Price skyrocketting! Hope you guys are short AUD/xxx and long xxx/AUD pairs!
I got caught, but will ride it out for awhile and see what happens.
Attached Image (click to enlarge)
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  • #2,291
  • Oct 26, 2010 7:44pm Oct 26, 2010 7:44pm
LG there were negative news on the AUD, not sure if it's worth hanging on to that one...
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  • #2,292
  • Oct 26, 2010 7:51pm Oct 26, 2010 7:51pm
Quoting lawgirl21
You can't totally avoid false BOs, but you can wait longer to get into a trade to observe PA...say wait for 2-3 M15 candle closes instead of just one.

And if I'm not by the computer, what order should I give? How many pips away from the BO line should my sell stop/buy stop order be?
  • #2,293
  • Oct 26, 2010 7:51pm Oct 26, 2010 7:51pm
Quoting Cencored
LG there were negative news on the AUD, not sure if it's worth hanging on to that one...
You are probably right. I have it on demo though and will wait awhile to see how it shakes out.
  • #2,294
  • Oct 26, 2010 8:08pm Oct 26, 2010 8:08pm
Out of my short trade. +80 pips.
  • #2,295
  • Oct 26, 2010 8:19pm Oct 26, 2010 8:19pm
H1 4 candle BO setup--actually has already broken out.
Attached Image (click to enlarge)
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  • #2,296
  • Oct 26, 2010 8:23pm Oct 26, 2010 8:23pm
The same
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  • #2,297
  • Oct 26, 2010 8:26pm Oct 26, 2010 8:26pm
Quoting lawgirl21
Out of my short trade. +80 pips.
  • #2,298
  • Oct 26, 2010 8:28pm Oct 26, 2010 8:28pm
the same
Attached Image (click to enlarge)
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  • #2,299
  • Oct 26, 2010 8:29pm Oct 26, 2010 8:29pm
Really too many to post!
  • #2,300
  • Oct 26, 2010 9:13pm Oct 26, 2010 9:13pm
I entered EURUSD, USDCHF and EURGBP. Did anyone else enter any Bo setups?
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