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Trade What You See - Almost Naked Trading

  • #2,981
  • Nov 3, 2010 8:50am Nov 3, 2010 8:50am
I hate that I missed this trade and PA keeps going up. So I looked for a way that I could enter it and found a small H1 BO. I'll see if it works.
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  • #2,982
  • Nov 3, 2010 8:58am Nov 3, 2010 8:58am
Quoting lawgirl21
I hate that I missed this trade and PA keeps going up. So I looked for a way that I could enter it and found a small H1 BO. I'll see if it works.
Hi lawgirl

From all the screenshots posted recently, there seems to be more H1 BOs than H4 3 taps. Is that correct? If so, do you tend to leave charts on H1 rather than mnitorin ghte h4?
The Kamakazi
  • #2,983
  • Nov 3, 2010 9:04am Nov 3, 2010 9:04am
Quoting Bl888
Hi lawgirl

From all the screenshots posted recently, there seems to be more H1 BOs than H4 3 taps. Is that correct? If so, do you tend to leave charts on H1 rather than mnitorin ghte h4?
I think you are right. For the past 2 weeks most of my trades have been BOs. I go back and forth between H1 and H4 charts. Sometimes even daily charts, but I am not having the success I expected from the dailies. Remember we are trading what we see, so look around.
  • #2,984
  • Nov 3, 2010 9:21am Nov 3, 2010 9:21am
Quoting lawgirl21
Looking for a BO trade short here.

Hi Lawgirl, i noticed you were lookng at a possible short on the aud/usd,
Do you still look at confirmation on 3 time frames?
because the weekly appears to be up.
Thanks!
  • #2,985
  • Nov 3, 2010 9:27am Nov 3, 2010 9:27am
Quoting artieboy
Hi Lawgirl, i noticed you were lookng at a possible short on the aud/usd,
Do you still look at confirmation on 3 time frames?
because the weekly appears to be up.
Thanks!
No, not for BOs.
  • #2,986
  • Nov 3, 2010 9:37am Nov 3, 2010 9:37am
Quoting pippete
The straddle technique is another BO method for LG's 4C technique, especially if you can't monitor your trades closely, or at night. Straddle for the 1H breakout involves drawing our lines for the 4 candles as usual. Then 2 pending orders are placed, a buy stop a certain number of pips above the upper line and a sell stop a certain number of pips below the lower line (plus spread)....
do u use sl for this orders? thnx.
  • #2,987
  • Nov 3, 2010 10:04am Nov 3, 2010 10:04am
Quoting dialpips
do u use sl for this orders? thnx.
Yes, as I mentioned, the SL are at the lower and upper lines, respectively. If a short BO turns back and hits the upper line and stops you out, it is considered a false breakout, or "fakeout" and invalidates the trade. So yes, you need SL definitely.
  • #2,988
  • Nov 3, 2010 10:14am Nov 3, 2010 10:14am
Hit my SL.
  • #2,989
  • Nov 3, 2010 10:17am Nov 3, 2010 10:17am
I have a question lawgirl are you moving your SL orders when you move to the profit area?
  • #2,990
  • Nov 3, 2010 10:22am Nov 3, 2010 10:22am
Quoting leife
I have a question lawgirl are you moving your SL orders when you move to the profit area?
Yes I am..try to never let a winner turn into a loser.
  • #2,991
  • Nov 3, 2010 10:24am Nov 3, 2010 10:24am
Earlier trade going against me. I have now put in a SL.
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  • #2,992
  • Nov 3, 2010 10:26am Nov 3, 2010 10:26am
Now breaking out.
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  • #2,993
  • Nov 3, 2010 10:27am Nov 3, 2010 10:27am
Breaking out.
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  • #2,994
  • Nov 3, 2010 10:38am Nov 3, 2010 10:38am
If you want to see PA in its purest form, switch to a line chart and watch. Still waiting for an entry.
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  • #2,995
  • Nov 3, 2010 10:43am Nov 3, 2010 10:43am
and how are you moving your SLs? I am moving them usually to logical points like SR. or are you putting SL immediately to B/E breakeven?
thats whole art out there
  • #2,996
  • Nov 3, 2010 10:46am Nov 3, 2010 10:46am
ALL

Remember tonight is going to be BIG BIG BIG.

Not so much the rate announcement, but the final QE results.
We could see massive moves tonight if we see > 750 or < 400. Expected is 500Bn

Speaking to a lot of my contacts at hedge funds and banks, everyone has been waiting on this and markets should be much more liquid going forward. People who are reading the statements released tonight could start trading tomorrow or even on monday for beginning of the week.

Fingeres crossed all and good luck tongiht, tomorrow and monday should be very interesting days ahead......
The Kamakazi
  • #2,997
  • Nov 3, 2010 10:51am Nov 3, 2010 10:51am
Quoting lawgirl21
I think you are right. For the past 2 weeks most of my trades have been BOs. I go back and forth between H1 and H4 charts. Sometimes even daily charts, but I am not having the success I expected from the dailies. Remember we are trading what we see, so look around.

yeah very very true. trade literally what you see.

On the H1 BO do you need RSI on H1, H4, D1 and W1 to all agree before entry??
The Kamakazi
  • #2,998
  • Nov 3, 2010 11:23am Nov 3, 2010 11:23am
Quoting lawgirl21
Yes I am..try to never let a winner turn into a loser.
correct, but also try to never let a winner turn to be stopped out at BE.
consider the right time before placing stops at BE, consider the right SL before entering a position.
  • #2,999
  • Nov 3, 2010 11:24am Nov 3, 2010 11:24am
Quoting lawgirl21
If you want to see PA in its purest form, switch to a line chart and watch. Still waiting for an entry.

short you mean?
  • #3,000
  • Nov 3, 2010 11:35am Nov 3, 2010 11:35am
Quoting Martingale
correct, but also try to never let a winner turn to be stopped out at BE.
consider the right time before placing stops at BE, consider the right SL before entering a position.
I don't agree..I consider a BE a win. There is no way to know the "right SL".
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