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Trade What You See - Almost Naked Trading

  • #2,421
  • Oct 27, 2010 4:38pm Oct 27, 2010 4:38pm
Good night everyone. Good trading
  • #2,422
  • Oct 27, 2010 4:47pm Oct 27, 2010 4:47pm
Lawgirl, can I ask you how many trades you are willing to take at the same time? Monitoring 8-10 pairs, there can be as many as 5 or more trades confirm within hours, but this exposes the account to an accumulated risk.

Personally I want to keep my accumulated risk at less than 5% (risking no more than 2% on each trade), so that makes 2-3 trades for me at any one time.

How do you do it?
Trading Makes Money!
  • #2,423
  • Oct 27, 2010 5:06pm Oct 27, 2010 5:06pm
Quoting TheDirtySerb
Lawgirl, if the current PA confirms third tap on 1 hr ej, and W, D, and 1Hr are pointing down, does it matter if 4 hr is pointing up? Or, would you wait for 4 hr to confirm PA and RSI? 4 Hour chart not attached, but it is tapping. Sorry if this question has been asked of you 161.8 times. See my chart. BTW, nice job on the indicator guys, really cool.
I have only traded H1 3taps a few times, so I haven't tested it out, but I would confirm with that TF and the 2 next higher TFs on any TF I was trading i.e. if trading H4..confirm with daily and weekly. If trading daily, confirm with weekly and monthly...so if trading H1, confirm with H4 and daily. The reason for this is you are not expecting as many pips from an H1 trade as you might from an H4 or daily trade so longer term trade may not be as important.
  • #2,424
  • Oct 27, 2010 5:08pm Oct 27, 2010 5:08pm
Quoting PurePrice
Good night everyone. Good trading

Thanks PureP...have a great evening.
  • #2,425
  • Oct 27, 2010 5:20pm Oct 27, 2010 5:20pm
Quoting Cencored
Lawgirl, can I ask you how many trades you are willing to take at the same time? Monitoring 8-10 pairs, there can be as many as 5 or more trades confirm within hours, but this exposes the account to an accumulated risk.

Personally I want to keep my accumulated risk at less than 5% (risking no more than 2% on each trade), so that makes 2-3 trades for me at any one time.

How do you do it?
I will take as many as 3 at one time, but no more than that and that makes me a little uncomfortable. You are right, there are so many good trades it is often hard to know which ones to take. That is why I keep saying never worry about a missed trade as more will come along quicklyl.

So many good trades is another reason I put all trades on demo first and wait until they are going my way until I post them live. That way, I almost never have a live losing trade.
  • #2,426
  • Oct 27, 2010 5:32pm Oct 27, 2010 5:32pm
Quoting lawgirl21
I will take as many as 3 at one time, but no more than that and that makes me a little uncomfortable. You are right, there are so many good trades it is often hard to know which ones to take. That is why I keep saying never worry about a missed trade as more will come along quicklyl.

So many good trades is another reason I put all trades on demo first and wait until they are going my way until I post them live. That way, I almost never have a live losing trade.

Can you elaborate on that one. please? What do you mean by "wait until they are going my way"? When are you going into a trade?
  • #2,427
  • Oct 27, 2010 6:53pm Oct 27, 2010 6:53pm
Quoting The Sage
Can you elaborate on that one. please? What do you mean by "wait until they are going my way"? When are you going into a trade?
In my favor...in the money..making pips...
  • #2,428
  • Oct 27, 2010 7:22pm Oct 27, 2010 7:22pm
Well, so much for the H1 tap dance...perhaps the BO will show something.
Did not have RSI agreement when the prior tap occured but did have it when the current tap was setting up. And then the daily rolled down and shortly after the H1 rolled hard down. Sitting on me hands at the moment.

This exciting or what
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Listen to the whispers.... You may learn something
  • #2,429
  • Oct 27, 2010 7:42pm Oct 27, 2010 7:42pm
Is it safer to take triple tap trades only off 3 candles that match the trade you are taking? For example if you are taking long trade then it must be a triple tap of bull candles?
Today's zone = Tomorrow's opportunity!
  • #2,430
  • Oct 27, 2010 7:45pm Oct 27, 2010 7:45pm
Three potential H1 4 candle BOs
Attached Image
  • #2,431
  • Oct 27, 2010 7:46pm Oct 27, 2010 7:46pm
chart
Attached Image
  • #2,432
  • Oct 27, 2010 7:49pm Oct 27, 2010 7:49pm
chart
Attached Image
  • #2,433
  • Oct 27, 2010 8:03pm Oct 27, 2010 8:03pm
Quoting lawgirl21
Three potential H1 4 candle BOs
All three changed on a dime...
  • #2,434
  • Oct 27, 2010 8:05pm Oct 27, 2010 8:05pm
Entered this trade long based on 3rd tap. At 6:00 pm MST RSI was up; then at 6:15 RSI was flat then down; at 6:37 the RSI was up again. Posting chart as attachement; tried to insert as image but my chart does not have a url; hope this works.
Attached Image (click to enlarge)
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  • #2,435
  • Oct 27, 2010 8:19pm Oct 27, 2010 8:19pm
Quoting pres78
Is it safer to take triple tap trades only off 3 candles that match the trade you are taking? For example if you are taking long trade then it must be a triple tap of bull candles?
I am not sure that it is safer, but it is quicker to get into a trade. I have never thought in terms of whether or not it is safer. A good question, does anyone have any thoughts about that?
  • #2,436
  • Oct 27, 2010 8:25pm Oct 27, 2010 8:25pm
Potential trade to the upside after 4th hourly candle closes

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  • #2,437
  • Oct 27, 2010 8:41pm Oct 27, 2010 8:41pm
Quoting lawgirl21

So many good trades is another reason I put all trades on demo first and wait until they are going my way until I post them live. That way, I almost never have a live losing trade.
So in order to give everybody time to look at your chart setups, you post the demo trades here and you then take them live when price keeps on going in your favor by some pips?

That must be some effort, which we all really appreciate. You're a star, LG!
Trading Makes Money!
  • #2,438
  • Oct 27, 2010 8:57pm Oct 27, 2010 8:57pm
hi lawgirl..
been demoin about 3days now with ur 3top n bottom setups..
i just made all my trade on any confirmed 3tops and bottoms regardless of the trend and RSI... just to see the potential of this method.
i got about 2:1 ratio(win:loss).. looking pretty decent..
ok..so my question is.. when i make a few positions at the same time, i make all my position on the same track; for example if i make positions on eur/usd and usd/jpy, i go long on eur/usd and short on usd/jpy... of course only when i see the 3top and bottom formin up on both trades in opposite way..
once the market goes on ur way.. its pretty positve i would make profits on both trades but something bad happen like news event i may as well get wiped out on both trade...
what are ur thoughts on this subject?
  • #2,439
  • Oct 27, 2010 9:07pm Oct 27, 2010 9:07pm
Quoting Cencored
So in order to give everybody time to look at your chart setups, you post the demo trades here and you then take them live when price keeps on going in your favor by some pips?

That must be some effort, which we all really appreciate. You're a star, LG!
Well, no, I'm not as altruistic as you make it sound, CC. I post the charts as I find the set-ups, but I am trading to make money, so I don't take the set-up live until there is a trigger of the trade and that trade starts making pips. I think it is a good idea for everyone to do the same. However, the pips that I post are live pips...i.e. if I say I am up 45 pips that means live.
  • #2,440
  • Oct 27, 2010 9:35pm Oct 27, 2010 9:35pm
Potential BO on H1 to the upside on ibfx-chart.
W1, D1 and H4 are long bias.

Watching PA on M15 now.
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