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Trade What You See - Almost Naked Trading

  • #2,361
  • Oct 27, 2010 10:02am Oct 27, 2010 10:02am
BO on EJ
  • #2,362
  • Oct 27, 2010 10:09am Oct 27, 2010 10:09am
Quoting rovver
BO on EJ
take part profit, set SL to BE & let the rest run to TP
  • #2,363
  • Oct 27, 2010 10:09am Oct 27, 2010 10:09am
Quoting Ph22
Not too keen on this pair so one for the demo but watching this for a BO trade.
Worked well..shame it was on demo. (GY H1 BO)
Attached Image (click to enlarge)
Click to Enlarge Name: gy.JPG Size: 106 KB
  • #2,364
  • Oct 27, 2010 10:31am Oct 27, 2010 10:31am
Did mine a bit differently.
In on a multiple H4 Tap...covered most and watching lower time frame as the H1 is rolling to the upside.

Quoting lawgirl21
I'm trying to get into a short trade. I'm looking at a 3 tap entry on a H1 chart. If PA taps the TL again, I'm in.
Attached Image (click to enlarge)
Click to Enlarge Name: EU-10-27-10-H4.jpg Size: 278 KB
Listen to the whispers.... You may learn something
  • #2,365
  • Oct 27, 2010 10:37am Oct 27, 2010 10:37am
Quoting Scrutch
Did mine a bit differently.
In on a multiple H4 Tap...covered most and watching lower time frame as the H1 is rolling to the upside.
Hi...good to see you! That was smart. I'm not in it yet because I couldn't find a way in...but multiple H4 taps..why not?
  • #2,366
  • Oct 27, 2010 11:04am Oct 27, 2010 11:04am
Quoting lawgirl21
I'm trying to get into a short trade. I'm looking at a 3 tap entry on a H1 chart. If PA taps the TL again, I'm in.
LG, when you enter based on 3rd tap on 1 hour chart, am I correct in assuming the RSI needs to match on the daily, 4-hour, and 1-hour charts first? Thx.
  • #2,367
  • Oct 27, 2010 11:23am Oct 27, 2010 11:23am
Quoting geocolo
LG, when you enter based on 3rd tap on 1 hour chart, am I correct in assuming the RSI needs to match on the daily, 4-hour, and 1-hour charts first? Thx.
Yes, that's correct.
  • #2,368
  • Oct 27, 2010 11:28am Oct 27, 2010 11:28am
Just had 3rd tap on H1 chart short.
  • #2,369
  • Oct 27, 2010 11:32am Oct 27, 2010 11:32am
Quoting lawgirl21
Just had 3rd tap on H1 chart short.
chart
Attached Image (click to enlarge)
Click to Enlarge Name: 4x.gif Size: 17 KB
  • #2,370
  • Oct 27, 2010 11:36am Oct 27, 2010 11:36am
what stop size you usually use for h1?
  • #2,371
  • Oct 27, 2010 11:40am Oct 27, 2010 11:40am
Quoting Magnat
what stop size you usually use for h1?
I have not placed a SL on this trade yet, will do so before I leave for my office. It will be at a resistence level. I have place TP at a support level of 1.3725. But look for yourself at various R/S levels and find something you are comfortable with.
  • #2,372
  • Oct 27, 2010 11:53am Oct 27, 2010 11:53am
Quoting lawgirl21
I have not placed a SL on this trade yet, will do so before I leave for my office. It will be at a resistence level. I have place TP at a support level of 1.3725. But look for yourself at various R/S levels and find something you are comfortable with.

I am in at 1.3780, I have TP1 at 1.3760 for +20 pips profit (R:R of 1:1) , ad TP2 at 1.3730 (1:2.5). My SL is at 1.3800 (this is double 00 and good 15M resistance)
  • #2,373
  • Oct 27, 2010 11:56am Oct 27, 2010 11:56am
Quoting lawgirl21
I got caught, but will ride it out for awhile and see what happens.
I enter trades on the 3rd tap, rather than wait for the close of the candle. I also typically set a TP.

I've noticed that a number of my trades go into a range, rather respect the trendline. When this happened last night with a USDCAD trade, I moved my TP to the highs of the two bars right before the third tap.

LG, in your chart, which I have re-attached, I noticed that your TP is the same as the high of the bar before the 3rd tap. Is this how you normally respond to this situation? By the way, how did the trade work out?

Others trades: what do you do?
Attached Image
  • #2,374
  • Oct 27, 2010 11:58am Oct 27, 2010 11:58am
Quoting PurePrice
I am in at 1.3780, I have TP1 at 1.3760 for +20 pips profit (R:R of 1:1) , ad TP2 at 1.3730 (1:2.5). My SL is at 1.3800 (this is double 00 and good 15M resistance)
Of course once my TP1 is hit, I move my SL to BE on the remaining 1/2
  • #2,375
  • Oct 27, 2010 12:03pm Oct 27, 2010 12:03pm
Quoting Location
I enter trades on the 3rd tap, rather than wait for the close of the candle. I also typically set a TP.

I've noticed that a number of my trades go into a range, rather respect the trendline. When this happened last night with a USDCAD trade, I moved my TP to the highs of the two bars right before the third tap.

LG, in your chart, which I have re-attached, I noticed that your TP is the same as the high of the bar before the 3rd tap. Is this how you normally respond to this situation? By the way, how did the trade work out?

Others trades: what...

If the thrid tap oocurs during the asian session (or generally after NY lunch time), then you will surely see PA stalling and goigng into a range. JPY pairs tend to be a bit more active during asian session.
  • #2,376
  • Oct 27, 2010 12:39pm Oct 27, 2010 12:39pm
Lawgirl,Please, answer me 3 questions. 1.Do you wait for closing of 3d tap candle or open position emmidiately when 3d tap candle touches trendline or is very close to it? 2.Usually when 3d tap candle correct to the trendline the RSI is not supporting our trade on H4. Is it important that RSI on H4 chart show the same direction as RSI on W and D when 3d tap candle touches the trendline? 3. Do you trade 30 min. and 15 min. using this method? Thank you very much for your simple , very good system and efforts to help peaple.
  • #2,377
  • Oct 27, 2010 1:07pm Oct 27, 2010 1:07pm
Quoting PurePrice
Of course once my TP1 is hit, I move my SL to BE on the remaining 1/2

I existed 1/2 at 1.3760 (+20 pips) and other 1/2 at 1.3740 (+40 pips).
  • #2,378
  • Oct 27, 2010 1:18pm Oct 27, 2010 1:18pm
Quoting Location
I enter trades on the 3rd tap, rather than wait for the close of the candle. I also typically set a TP.

I've noticed that a number of my trades go into a range, rather respect the trendline. When this happened last night with a USDCAD trade, I moved my TP to the highs of the two bars right before the third tap.

LG, in your chart, which I have re-attached, I noticed that your TP is the same as the high of the bar before the 3rd tap. Is this how you normally respond to this situation? By the way, how did the trade work out?

Others trades: what...
I lost 50 pips on that trade. I reentered short and made most of it back.

My TPs and SL are always at R/S levels.
  • #2,379
  • Oct 27, 2010 1:18pm Oct 27, 2010 1:18pm
Quoting PurePrice
I existed 1/2 at 1.3760 (+20 pips) and other 1/2 at 1.3740 (+40 pips).
Way to go!
  • #2,380
  • Oct 27, 2010 1:24pm Oct 27, 2010 1:24pm
Quoting lawgirl21
Way to go!
Thanks LG.


How did you do LG, are you in this one?
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