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Trade What You See - Almost Naked Trading

  • #2,481
  • Oct 28, 2010 9:07am Oct 28, 2010 9:07am
This one fizzled...never did anything..
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  • #2,482
  • Oct 28, 2010 9:17am Oct 28, 2010 9:17am
Quoting Cencored
I did. I took it on the first leg and closed it for 20 pips. It wold have gotten against me by 40 pips, so glad I closed it out.

LG, could you please take a look at EURCHF? That one whipped me today. I took it long first after the 1hr BO, got stopped out and then tried to enter a short when it broke below the support.
Could I please ask your opinion? Maybe we can learn all from my error, if there were any...
Looks like it never really had a decisive BO. Notice the several hours of consolidation/indecision marked by the top yellow line. Moving to the M15 chart for your short entry, several pinbars..indecision. I think you just tried to chase the trade. This is probably your only loss this week.
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  • #2,483
  • Oct 28, 2010 9:24am Oct 28, 2010 9:24am
Quoting lawgirl21
Looks like it never really had a decisive BO. Notice the several hours of consolidation/indecision marked by the top yellow line. Moving to the M15 chart for your short entry, several pinbars..indecision. I think you just tried to chase the trade. This is probably your only loss this week.
Agreed the short trade was stupid, lots of reversal bars.
However the long I could not prevent, I had a nice full-bodied candle on m15, which I entered on. However all those previous highs should have been a worry for me? I entered at the top of a horizontal channel...
Trading Makes Money!
  • #2,484
  • Oct 28, 2010 9:29am Oct 28, 2010 9:29am
Good job, Pippete...a lovely 3 tap trade.
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  • #2,485
  • Oct 28, 2010 9:30am Oct 28, 2010 9:30am
Hey LG, 2 quick questions:
- do you demo ALL your trades first then go live when they are in the money or just the shaky ones? Don't you lose a good part of the pips while waiting for that confirmation?
- Also, for the 1HR BO trades, do you always wait for triple directional bias before you enter? Seems like during the asian session (after the 4th candle) RSIs are not doing much, they mostly start pumping after London open, but then you (and me) are sleeping, and orders are in...

Thanks for the great thread, starting to make some pips after burning my previous account...
  • #2,486
  • Oct 28, 2010 9:30am Oct 28, 2010 9:30am
Quoting Cencored
Agreed the short trade was stupid, lots of reversal bars.
However the long I could not prevent, I had a nice full-bodied candle on m15, which I entered on. However all those previous highs should have been a worry for me? I entered at the top of a horizontal channel...
Don't beat yourself up..but maybe wait for another M15 candle to close, I think you would have noticed a problem if you had.
  • #2,487
  • Oct 28, 2010 9:35am Oct 28, 2010 9:35am
Quoting lawgirl21
Don't beat yourself up..but maybe wait for another M15 candle to close, I think you would have noticed a problem if you had.
Agreed. It would have paid off to wait and see what next bar does. Something to keep in mind in general. The next bar did not go in my favor by a single pip, so this would have prevented the trade.
Thanks for your thoughts.

I also entered AJ 5 hours ago. It was a nice BO to the downside on h1, but completely retraced. It came very close to my SL just above those tops and went back down finally. First target hit at 20 pips. Remainder is open, SL at BE.
Trading Makes Money!
  • #2,488
  • Oct 28, 2010 9:36am Oct 28, 2010 9:36am
Quoting pippete
Hey LG, 2 quick questions:
- do you demo ALL your trades first then go live when they are in the money or just the shaky ones? Don't you lose a good part of the pips while waiting for that confirmation?
- Also, for the 1HR BO trades, do you always wait for triple directional bias before you enter? Seems like during the asian session (after the 4th candle) RSIs are not doing much, they mostly start pumping after London open, but then you (and me) are sleeping, and orders are in...

Thanks for the great thread, starting to make some pips after...

Yes, I do lose some of the run by demoing first. But I also save time on my live accounts by not playing around with set ups. Sometimes I won't even have the chart up on my live screen..just the trade going. But I almost never have a losing trade and I meet my goals. I am a big risk taker and like to try different set-ups, but learned the hard way not to do it with real $...so every trade has to prove itself to me, so to speak.

I do use pending orders and will often get up in the middle of the night to check them, as I do not sleep well anyway.
  • #2,489
  • Oct 28, 2010 9:38am Oct 28, 2010 9:38am
Quoting triciahar
Hi Dryclean, when u said Steve's EA, u mean this EA open trades for u if u install on the mt4? Where can I get this and the SL adjuster is g8 will give it a try. Look fwd to your advice/tips on the usage of the EA. Tks.
should be on page 1
  • #2,490
  • Oct 28, 2010 9:43am Oct 28, 2010 9:43am
Quoting Cencored
Agreed. It would have paid off to wait and see what next bar does. Something to keep in mind in general. The next bar did not go in my favor by a single pip, so this would have prevented the trade.
Thanks for your thoughts.

I also entered AJ 5 hours ago. It was a nice BO to the downside on h1, but completely retraced. It came very close to my SL just above those tops and went back down finally. First target hit at 20 pips. Remainder is open, SL at BE.
AJ looks good now...
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  • #2,491
  • Oct 28, 2010 10:31am Oct 28, 2010 10:31am
Entered a little late, but still making pips.
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  • #2,492
  • Oct 28, 2010 10:37am Oct 28, 2010 10:37am
Quoting lawgirl21
Entered a little late, but still making pips.

This is like 5 taps now

I entered NZD and AUD actually using the same way .. up channel on both. Now about +20 on each
  • #2,493
  • Oct 28, 2010 10:52am Oct 28, 2010 10:52am
Quoting lawgirl21
Yes, I do lose some of the run by demoing first. But I also save time on my live accounts by not playing around with set ups. Sometimes I won't even have the chart up on my live screen..just the trade going. But I almost never have a losing trade and I meet my goals. I am a big risk taker and like to try different set-ups, but learned the hard way not to do it with real $...so every trade has to prove itself to me, so to speak.

I do use pending orders and will often get up in the middle of the night to check them, as I do not sleep well anyway....
Thanks for your reply. so the middle of night wakeup is happening... Used to do that for news trading. Horrible days. I called those "trigger finger" trades. Nerve-wrecking...
Kiwi - out + 28 pips. that's +132 for the day, would have been +172 if I leave USDCAD going longer (which was not a valid setup anyways) ... Wow, I've never made that much ever in a day. LG, I'm sold on this method, everyone else, keep working with it, it works!
  • #2,494
  • Oct 28, 2010 10:59am Oct 28, 2010 10:59am
Quoting pippete
Thanks for your reply. so the middle of night wakeup is happening... Used to do that for news trading. Horrible days. I called those "trigger finger" trades. Nerve-wrecking...
Kiwi - out + 28 pips. that's +132 for the day, would have been +172 if I leave USDCAD going longer (which was not a valid setup anyways) ... Wow, I've never made that much ever in a day. LG, I'm sold on this method, everyone else, keep working with it, it works!
Good job pipp
  • #2,495
  • Oct 28, 2010 11:22am Oct 28, 2010 11:22am
Quoting lawgirl21
Entered a little late, but still making pips.
I have exited the trade with 50pips. But looking at the PA the trend will continue. now looking to get into the trade

Give up looking. Keeping my pips for the day. Going to bed now. Happy pipping guys.
  • #2,496
  • Oct 28, 2010 1:54pm Oct 28, 2010 1:54pm
Quoting FXMajors
Long @ 1.3764 Sup confirmed @ 1.3733 SL moved @ 1.3877 target @ 1.4049.
Patience is not only a virtue but a necessity.

Cheers

Awesome chart. Like all the timeframes being @ one place.
  • #2,497
  • Oct 28, 2010 2:45pm Oct 28, 2010 2:45pm
FXMajors, those are both really nice trades. Looking at your charts, however, it doesn't look like there is a third tap on either of them. Are you doing these trades according to the three tap system? Or are you using something else that lets you enter them?

LG sometimes talks about a 2 Tap and move to H1 approach for a breakout. I could see how that might work here, except I'm not sure if this is where she would actually use that approach. And, of course, I don't know if that's what you were doing here, so it might just be irrelevant.
  • #2,498
  • Oct 28, 2010 3:41pm Oct 28, 2010 3:41pm
Quoting learningpips
awesome chart. Like all the timeframes being @ one place.

please post your pairs guys....
  • #2,499
  • Oct 28, 2010 3:43pm Oct 28, 2010 3:43pm
Quoting pippete
Thanks for your reply. so the middle of night wakeup is happening... Used to do that for news trading. Horrible days. I called those "trigger finger" trades. Nerve-wrecking...
Kiwi - out + 28 pips. that's +132 for the day, would have been +172 if I leave USDCAD going longer (which was not a valid setup anyways) ... Wow, I've never made that much ever in a day. LG, I'm sold on this method, everyone else, keep working with it, it works!
One hundred pips has been my weekly goal, although I have recently moved it up some. You may want to do no more live trading for the week. Keeping pips can sometimes be as hard as making them.
  • #2,500
  • Oct 28, 2010 3:53pm Oct 28, 2010 3:53pm
Potential setup? Maybe.
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