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Trade What You See - Almost Naked Trading

  • #3,701
  • Nov 10, 2010 7:48am Nov 10, 2010 7:48am
Quoting JayTrader
Made my 5% (+70 pips) for the day already so on demo rest of the day. I hate giving back pips to the market. Early in the week yet but I have an account that opens around 1pm est on Sunday and if it would benefit anyone I could post my live quotes page around 4:45pm est for people to compare with their Friday evening numbers on their trading platform to see where the Gaps are worth trading.
Jay, if you can stick to that discipline, and with your background I am sure you can, you will be very, very successful.
  • #3,702
  • Nov 10, 2010 7:51am Nov 10, 2010 7:51am
Quoting pippete
Good morning people. woke up to +58 pips. Look at this one. This BO didn't work out to the downside, but hit SL, however, RSIs turned up an went back again, and made my loss back and then some. Take your losses, see for a reversal and you'll find gold..
nice one...prob : i've got about 20 pips spread on nzdusd : D
Hero calls followed by margin calls...
  • #3,703
  • Nov 10, 2010 7:52am Nov 10, 2010 7:52am
Quoting Bl888
LG

If you was to only monitor 5 pairs. what would they be?
The pairs that are called the majors, BL. Generally the first firve pairs listed on most platforms.
  • #3,704
  • Nov 10, 2010 7:57am Nov 10, 2010 7:57am
I'm not sure I have every seen all TFs in the same direction like this. But I can't see a way to enter this trade.
Attached Image
  • #3,705
  • Nov 10, 2010 7:58am Nov 10, 2010 7:58am
Thanks, I use that rule everyday. In a perfect world that doubles your account every month (15 or so trading days) And I also will only allow for a 5% draw down on total trades for the day. That way I am only giving back a max. of one days trading. (I never let it get to a 5% loss though) Sounds strict but I have gone the other route and it is heart breaking to lose 50% 0r more in a day trying to get back to even .
Jay
Quoting lawgirl21
Jay, if you can stick to that discipline, and with your background I am sure you can, you will be very, very successful.
Always Learning
  • #3,706
  • Nov 10, 2010 8:01am Nov 10, 2010 8:01am
Quoting pippete
Good morning people. woke up to +58 pips. Look at this one. This BO didn't work out to the downside, but hit SL, however, RSIs turned up an went back again, and made my loss back and then some. Take your losses, see for a reversal and you'll find gold..
Excellent trade...
  • #3,707
  • Nov 10, 2010 8:04am Nov 10, 2010 8:04am
Quoting JayTrader
Thanks, I use that rule everyday. In a perfect world that doubles your account every month (15 or so trading days) And I also will only allow for a 5% draw down on total trades for the day. That way I am only giving back a max. of one days trading. (I never let it get to a 5% loss though) Sounds strict but I have gone the other route and it is heart breaking to lose 50% 0r more in a day trying to get back to even .
Jay
I've had to learn the hard way too. I set my goal a little differently, but we should all have one and stick by it. I love the Rule of 72!
  • #3,708
  • Edited 8:25am Nov 10, 2010 8:04am | Edited 8:25am
held Chf/Jpy awhile with small profit; news popped it to target=+30 pips.

Weekly RSI was all I had solid pointing up when entered with lower rsi's sideways; I recall lawgirl21 never trading against weekly rsi3. Those golden nuggests she occassionally gives us are very helpful.

Still in Uchf long holdiing till 0.9770 from hours ago; may have made a mistake not taking profit or scaling out of some of it at the 50 level during news. USD has weakened since news...

Too many pairs to keep up with all the entries last few hours.

Steve
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  • #3,709
  • Nov 10, 2010 8:06am Nov 10, 2010 8:06am
I'm not familiar with that . What is the rule of 72?
Quoting lawgirl21
I've had to learn the hard way too. I set my goal a little differently, but we should all have one and stick by it. I love the Rule of 72!
Always Learning
  • #3,710
  • Nov 10, 2010 8:18am Nov 10, 2010 8:18am
Quoting JayTrader
I'm not familiar with that . What is the rule of 72?
The Rule of 72 has some amazing mathematical accuracy used worldwide to tell how many days, weeks, months or years it will take to double ones money.

Divide 72 by whatever percentage number you like..in your case 5%, so 72 divided by 5 = 14.4, which tells you that ideally every 14.4 days (since 5 was a daily goal) your money will double.

Say one wanted to average 20% per month: 72 divided by 20 = 3.6, meaning at that rate, ones money would double every 3.6 months. Powerful incentive. I play with it all the time.
  • #3,711
  • Nov 10, 2010 8:20am Nov 10, 2010 8:20am
Quoting lawgirl21
Excellent trade...
Thanks LG, I'm taking a break for the day, family time. For everyone, it's a good idea to take a break sometimes, trading could really burn you out. It's very refreshing to not think about forex for a day. Happy pipping!
  • #3,712
  • Nov 10, 2010 8:27am Nov 10, 2010 8:27am
I had this pair on my watch list for a BO and then didn't watch it. Nice BO.
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  • #3,713
  • Nov 10, 2010 8:36am Nov 10, 2010 8:36am
Has been trading in a fairly tight range for hours. It should be breaking in some direction soon...likes for now like it will be down.
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  • #3,714
  • Nov 10, 2010 8:38am Nov 10, 2010 8:38am
Keep an eye on EURUSD H1 BO
The Kamakazi
  • #3,715
  • Nov 10, 2010 8:40am Nov 10, 2010 8:40am
It Sounds really cool. I will definitely play around with it.
Quoting lawgirl21
The Rule of 72 has some amazing mathematical accuracy used worldwide to tell how many days, weeks, months or years it will take to double ones money.

Divide 72 by whatever percentage number you like..in your case 5%, so 72 divided by 5 = 14.4, which tells you that ideally every 14.4 days (since 5 was a daily goal) your money will double.

Say one wanted to average 20% per month: 72 divided by 20 = 3.6, meaning at that rate, ones money would double every 3.6 months. Powerful incentive. I play with it all the time.
Always Learning
  • #3,716
  • Nov 10, 2010 8:44am Nov 10, 2010 8:44am
Quoting Bl888
Keep an eye on EURUSD H1 BO
Breaking out now....
  • #3,717
  • Nov 10, 2010 8:47am Nov 10, 2010 8:47am
Quoting Bl888
Keep an eye on EURUSD H1 BO
Hero calls followed by margin calls...
  • #3,718
  • Nov 10, 2010 8:52am Nov 10, 2010 8:52am
3 Tap USDCHF
Attached Image (click to enlarge)
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Always Learning
  • #3,719
  • Nov 10, 2010 8:55am Nov 10, 2010 8:55am
Quoting lawgirl21
Breaking out now....

loving it....
The Kamakazi
  • #3,720
  • Nov 10, 2010 8:56am Nov 10, 2010 8:56am
Quoting lawgirl21
I had this pair on my watch list for a BO and then didn't watch it. Nice BO.

nice one here as well.
The Kamakazi
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