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Trade What You See - Almost Naked Trading

  • #3,021
  • Nov 3, 2010 4:26pm Nov 3, 2010 4:26pm
Quoting lawgirl21
Thank you for finding that link vbro. I will try to put it on page one.

The RSI Arrows Indicator by Scrutch is now on page 1.
  • #3,022
  • Nov 3, 2010 4:27pm Nov 3, 2010 4:27pm
Quoting NKE
I would agree with this

While you might have a trend "for the day", it makes more sense to look at the three sessions as separate trading times

It is a bit confusing at the London open because you have Frankfurt opening 1 hour earlier, which can lead to the "Frankfurt fake out", but in summary Frankfurt opens at 7, London 8 (UK time) and NY 1 pm (8EST) - London will usually make its move and direction fairly clear in the first 15 mins...

Sorry LG but...Excellent post NKE...I have noticed this and it proves to be a big advantage (/edge).
  • #3,023
  • Nov 3, 2010 4:57pm Nov 3, 2010 4:57pm
Hi Lawgirl

My total pips so far this week is +350. This is for me amazing. After a couple of years of struggling with Forex Trading, one blown account, I find your method and it suits me thankyou !! So simple, I've read about price action trading before and now understand it thanks to you. It's like you can just see what's going to happen. I find myself placing trades with a high degree of confidence. I'm going to see what happens over the next few weeks and then hopefully repeat the success on live again. Im looking forward to trading every day now.
  • #3,024
  • Nov 3, 2010 5:06pm Nov 3, 2010 5:06pm
[quote=NateSpecs;4145317]What is your take on trading on FOMC days? Would it be better to stay out because price action - spikey as it is - does barely allow for tradeable patterns?


I hope lawgirl doesn't mind me jumping in here,if she does, i will erase my post in the next hour, it's getting late in London! but in my opinion,as a retail trader, stay out. Just as some background, i worked for many years professionally, as a broker in the london interbank mkts. I worked in spot for over 10 yrs, and in the options mkt for over 5 yrs. My clients were the international merchant and investment banks.
You can't expect to trade news, without seeing the order flow,and as retail traders you will never see the big boys order books.
Take what lawgirl has given you, add a couple of rules, such as stay out on days like today, be aware of the first friday every month, look at the calendar, you should be able to work it out for yourself.
When i get some time hopefully i can contribute more. As an aside, anyone know if this was a POMO day, or not?
yeah, google it!!

Regards
  • #3,025
  • Nov 3, 2010 5:14pm Nov 3, 2010 5:14pm
Quoting Scrutch
Ok folks...a nice big round of applause for gspe if you will.

I've been communicating with gspe the last few days and he has been kind enough to almost completely redo his indicator for us. This is an indicator so it needs to be placed in the indicator folder and MT4 will have to be rebooted for this file to compile so you can use it. Experienced users can open it with MetaEditor and compile it and be done.

Default location is the upper right hand corner with enough room left for an Expert to show up. The indicator can be moved...

Wow! That's really cool! Thanks guys!
  • #3,026
  • Nov 3, 2010 5:30pm Nov 3, 2010 5:30pm
Quoting simmo24
My total pips so far this week is +350... This is for me amazing.... It's like you can just see what's going to happen.
Congrats, Simmo! Great work!
  • #3,027
  • Nov 3, 2010 5:39pm Nov 3, 2010 5:39pm
Quoting mary4x
Congrats, Simmo! Great work!
+1
  • #3,028
  • Edited 5:57pm Nov 3, 2010 5:45pm | Edited 5:57pm
Quoting simmo24
Hi Lawgirl

My total pips so far this week is +350. This is for me amazing. After a couple of years of struggling with Forex Trading, one blown account, I find your method and it suits me thankyou !! So simple, I've read about price action trading before and now understand it thanks to you. It's like you can just see what's going to happen. I find myself placing trades with a high degree of confidence. I'm going to see what happens over the next few weeks and then hopefully repeat the success on live again. Im looking forward to trading every day...
That is an amazing weekly total for any trader!!! I am so impressed with your success and very, very pleased that I had a little something to do with it.
  • #3,029
  • Nov 3, 2010 5:51pm Nov 3, 2010 5:51pm
[quote=yogibear;4145386]
Quoting NateSpecs
What is your take on trading on FOMC days? Would it be better to stay out because price action - spikey as it is - does barely allow for tradeable patterns?


I hope lawgirl doesn't mind me jumping in here,if she does, i will erase my post in the next hour, it's getting late in London! but in my opinion,as a retail trader, stay out. Just as some background, i worked for many years professionally, as a broker in the london interbank mkts. I worked in spot for over 10 yrs, and in the options mkt for over 5 yrs. My clients...
Please, please..always feel free to answer or discuss any topic that arises here. It actually helps me out a great deal.
  • #3,030
  • Nov 3, 2010 6:14pm Nov 3, 2010 6:14pm
Hi LG,
BO hopefully headed north....We'll see what happens

whip
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  • #3,031
  • Nov 3, 2010 6:31pm Nov 3, 2010 6:31pm
A lovely 3 Tap trade.
Attached Image
  • #3,032
  • Nov 3, 2010 6:47pm Nov 3, 2010 6:47pm
Quoting hiredwhip
Hi LG,
BO hopefully headed north....We'll see what happens

whip
HW--please post your pair and the TF. Too hard to figure out otherwise.
  • #3,033
  • Nov 3, 2010 6:50pm Nov 3, 2010 6:50pm
Hi,

I am waiting for a 3rd tap on this H4 GBP-USD chart. What do you think?
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  • #3,034
  • Edited 7:06pm Nov 3, 2010 6:51pm | Edited 7:06pm
Quoting lawgirl21
HW--please post your pair and the TF. Too hard to figure out otherwise.
LG.....Sorry....That is the Cable on 4H(I just noticed it was misslabeled)....That thing may make it all the way to the London open and make the drop

whip

I have a H1 setup but the H4 indi's looked better
  • #3,035
  • Nov 3, 2010 7:36pm Nov 3, 2010 7:36pm
Quoting MikeNYC
Hi,

I am waiting for a 3rd tap on this H4 GBP-USD chart. What do you think?
I'm watching it too. Already 3 taps on my chart, but I don't like the PA. I'm going to move it to a H1-4C-BO and watch it from there.
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  • #3,036
  • Nov 3, 2010 7:39pm Nov 3, 2010 7:39pm
Same chart with H1-4C-BO added.
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  • #3,037
  • Nov 3, 2010 7:40pm Nov 3, 2010 7:40pm
Quoting hiredwhip
LG.....Sorry....That is the Cable on 4H(I just noticed it was misslabeled)....That thing may make it all the way to the London open and make the drop

whip

I have a H1 setup but the H4 indi's looked better
Oh..we're all watching it..
  • #3,038
  • Nov 3, 2010 7:50pm Nov 3, 2010 7:50pm
Fading horizontal lines.
I know that LG’s method deals primarily with diagonal trend lines and breakouts but the same can be done using horizontal lines of support and resistance. I rarely use Rsi when I trade but it can be applied when fading large lines of S+R just as well
This cable trade last year is typical of how powerful trading S+R can be whether its breakouts or fading a major level as was the case here. This thing happens time and time again and check out the direction on the Rsi looks familiar right. Really zoom out on the first weekly chart and notice how the level is screaming out at you to be traded.
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  • #3,039
  • Nov 3, 2010 8:57pm Nov 3, 2010 8:57pm
Potential H1-4C- BO trade long.
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  • #3,040
  • Nov 3, 2010 8:57pm Nov 3, 2010 8:57pm
Hi LG,
Nice long 3 tap and the Cable in the ditch.....This will either be alot of fun or a train wreck.....Good Luck

whip
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