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Trade What You See - Almost Naked Trading

  • #3,801
  • Nov 10, 2010 8:01pm Nov 10, 2010 8:01pm
To test this further I entered GBP/USD short at 6150, SL at 6195, TP at 6070. So risking 45 to make 80. Lets see how it plays out. BTW this is for testing purposes only I am in no way telling anyone to get into this trade. Really stupid I feel the need to put in a disclaimer.
  • #3,802
  • Nov 10, 2010 8:13pm Nov 10, 2010 8:13pm
Quoting Ph22
Might go back to test the weeks main TL
I am hoping the 3840 resistence level holds and sends PA back down. Weekly still looks good for short with trading in tight (well, as tight as weekly candles can be) range. And monthly has a 3 Tap set up and trigger short. It's that darn DD that is so troubling.....
  • #3,803
  • Edited 8:31pm Nov 10, 2010 8:14pm | Edited 8:31pm
Quoting TheDirtySerb
I'm sure you guys have already been asked this question, but I'd like to know how many of you place limit orders near the third tap. For example, PH22's potential short setup on 4 hr GBP/USD looks promising. If we wait for confirmation candle, we potentially miss some if not all of the move. If a limit order is placed near the third tap and a tight stop is placed above the nearest major support, we can maximize profits by setting a 2:1 risk reward ratio. Now I know there will be more losers that way, but the winners will be greater. The loses will...
Hi DS, for me, I never place limit orders coz it can do what GU is doing now..ie keep going.

In order to get to a "trading with the trend" TL the PA will normally be travelling opposite to the desired direction (retracement) which doesn't immediately favour H1 or H4. For me, if at least the weekly and daily RSI are in agreement, I will wait for H1 to turn and then go to M15 to watch PA for a potential entry. If by then I feel I have missed the boat, I wait on the dockside for the next ship.
  • #3,804
  • Nov 10, 2010 8:17pm Nov 10, 2010 8:17pm
Quoting lawgirl21
I am hoping the 3840 resistence level holds and sends PA back down. Weekly still looks good for short with trading in tight (well, as tight as weekly candles can be) range. And monthly has a 3 Tap set up and trigger short. It's that darn DD that is so troubling.....
Yeah, I make that TL around 3847, so u are near a round number as well. Hoping it holds for u LG
  • #3,805
  • Nov 10, 2010 8:19pm Nov 10, 2010 8:19pm
...You're in demo mode...right?

Quoting TheDirtySerb
To test this further I entered GBP/USD short at 6150, SL at 6195, TP at 6070. So risking 45 to make 80. Lets see how it plays out. BTW this is for testing purposes only I am in no way telling anyone to get into this trade. Really stupid I feel the need to put in a disclaimer.
Listen to the whispers.... You may learn something
  • #3,806
  • Edited 8:25pm Nov 10, 2010 8:20pm | Edited 8:25pm
Quoting lawgirl21
I'm still short this trade. Seeing if I can survive the DD.
LG21
Be careful with this pair. H&S is forming in the hourly chart and in daily chart a Hammer candle. I don't know if you pay much attention to these things but I believe the pair is on way up.
MayinFX
  • #3,807
  • Nov 10, 2010 8:23pm Nov 10, 2010 8:23pm
Quoting Ph22
Yeah, I make that TL around 3847, so u are near a round number as well. Hoping it holds for u LG
Thanks Ph..I have a fairly high tolerance for risk but once in a while I have to take a trade on a weekly or even monthly chart and test it, I guess.
  • #3,808
  • Nov 10, 2010 8:24pm Nov 10, 2010 8:24pm
Quoting MayinFx
LG21
be careful with this pair. H&S is forming in the hourly chart and in daily chart a shooting star. I I believe the pair is on way up.
MayinX
Yes, I think you are right...
  • #3,809
  • Nov 10, 2010 8:42pm Nov 10, 2010 8:42pm
Quoting Ph22
Hi DS, for me, I never place limit orders coz it can do what GU is doing now..ie keep going.

[font=Arial][color=black]In order to get to a "trading with the trend" TL the PA will normally be travelling opposite to the desired direction (retracement) which doesn't immediately favour H1 or H4. For me, if at least the weekly and daily RSI are in agreement, I will wait for H1 to turn and then go to M15 to watch PA for a potential entry. If by then I feel I have missed the boat, I wait on the dockside for...
I understand your thinking. I really like this style of trading and I appreciate all the work that Lawgirl has put into this thread and I respect it. In no way am I trying to change the way people trade on this thread. I am just testing all possible scenarios. Always learning, trying to get better, evolving.
  • #3,810
  • Nov 10, 2010 8:45pm Nov 10, 2010 8:45pm
Quoting Scrutch
...You're in demo mode...right?
Never, ever trade demo. To me it is a complete waste of time. Emotions are different, quotes are sometimes different, etc. All my trades are live, however, on test trades like this one I risk only 1% of my account.
  • #3,811
  • Nov 10, 2010 8:46pm Nov 10, 2010 8:46pm
Quoting TheDirtySerb
I understand your thinking. I really like this style of trading and I appreciate all the work that Lawgirl has put into this thread and I respect it. In no way am I trying to change the way people trade on this thread. I am just testing all possible scenarios. Always learning, trying to get better, evolving.
  • #3,812
  • Nov 10, 2010 9:01pm Nov 10, 2010 9:01pm
Good luck see you all tomorrow.
Blessed are they who maintain justice, who constantly do what is right.
  • #3,813
  • Nov 10, 2010 9:19pm Nov 10, 2010 9:19pm
Hmmmm....
At this point you're just about BE.
Lower time frames are making LL's and LH's and there is some resistance around the 6575ish level. Interesting trade.
Wish you only positive pips.

Quoting TheDirtySerb
Never, ever trade demo. To me it is a complete waste of time. Emotions are different, quotes are sometimes different, etc. All my trades are live, however, on test trades like this one I risk only 1% of my account.
Listen to the whispers.... You may learn something
  • #3,814
  • Nov 10, 2010 9:25pm Nov 10, 2010 9:25pm
I did a quick scan of most pairs and see no confirmation on the 3 major TFs. ...Hmmm..most unusual. Does anyone see things differently?
  • #3,815
  • Nov 10, 2010 9:37pm Nov 10, 2010 9:37pm
That's the same thing I'm seeing...a mixed lot.
I'm thinking I'm going to call it a wrap.

Quoting lawgirl21
I did a quick scan of most pairs and see no confirmation on the 3 major TFs. ...Hmmm..most unusual. Does anyone see things differently?
Listen to the whispers.... You may learn something
  • #3,816
  • Nov 10, 2010 9:38pm Nov 10, 2010 9:38pm
Hey people, hi LG, hope you had a great day. Kids are down, ready to trade, but you're right, not much in confirmation
Maybe Eur/JPY has some promise. Keep an eye on that..
Attached Image
  • #3,817
  • Nov 10, 2010 9:47pm Nov 10, 2010 9:47pm
There was a decent H4-3T on the EJ.
EJ is about the only one that shows any promise of rolling the RSI's in the same directin at the moment.

Quoting pippete
Hey people, hi LG, hope you had a great day. Kids are down, ready to trade, but you're right, not much in confirmation
Maybe Eur/JPY has some promise. Keep an eye on that..
Listen to the whispers.... You may learn something
  • #3,818
  • Nov 10, 2010 9:47pm Nov 10, 2010 9:47pm
Quoting Scrutch
That's the same thing I'm seeing...a mixed lot.
I'm thinking I'm going to call it a wrap.
Think I will too..maybe watch some TV, which I never do. Night all..see you in the morning..happy trading through the night.
  • #3,819
  • Nov 10, 2010 10:09pm Nov 10, 2010 10:09pm
Hello Lawgirl,

Thanks for sharing your system.I have read few posts of this thread and have few questions.

How do we scan the 'pairs for the day' to trade ? Do we have to use Lawgirls_trend_display_v1.02 ? & what time do we need to look for pairs? after formation of 4th candle ?

My first candle forms 00:00 ldn and 4th candle 04:00 london time as i use Alpari (UK).So, @ 04:00 am ldn time after the close of 4th candle,I have to select the pair which shows in Lawgirls_trend_display_v1.02 which has H1,H4,D1,W1 all in the same direction ? Do we have to see for match of W1 as well..most of the time during trend changes,this may be different..would it not sufficient to see H1,H4,D1 matches alone ?

After drawing High of first four candle i have to place a buystop/sellstop based on Lawgirls_trend_display_v1.02 up or down ? do u have any pips away should i have place,as to avoid whipsaws or false BOs & TPs at the Major S/R.

I am starting to demo this for couple of weeks.
Please correct me if any of my understanding is wrong.

I am bit confused with H4 3 taps..So i am comfortable with H1 4 candle BOs & willing to follow H1 4 cdl bos.

Thanks again for helping us and for your patients in educating us..

Cheers
Safi
  • #3,820
  • Nov 10, 2010 11:25pm Nov 10, 2010 11:25pm
Quoting safi
Hello Lawgirl,

Thanks for sharing your system.I have read few posts of this thread and have few questions.

How do we scan the 'pairs for the day' to trade ? Do we have to use Lawgirls_trend_display_v1.02 ? & what time do we need to look for pairs? after formation of 4th candle ?

My first candle forms 00:00 ldn and 4th candle 04:00 london time as i use Alpari (UK).So, @ 04:00 am ldn time after the close of 4th candle,I have to select the pair which shows in Lawgirls_trend_display_v1.02 which has H1,H4,D1,W1 all in the same direction ? Do...
Hey Safi, just draw Trendlines at the H4 chart. Connect highs and lows.When Trendline is being touched a 3rd time u enter the trade for an 3 tap trade.

best regards Phanti
Hero calls followed by margin calls...
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