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Trade What You See - Almost Naked Trading

  • #3,841
  • Nov 11, 2010 4:39am Nov 11, 2010 4:39am
Quoting Ph22
Not sure I agree with any of the above in relation to this thread, but to each their own
lol
Hero calls followed by margin calls...
  • #3,842
  • Nov 11, 2010 4:59am Nov 11, 2010 4:59am
setup for Break Out Trade on au

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Hero calls followed by margin calls...
  • #3,843
  • Nov 11, 2010 5:31am Nov 11, 2010 5:31am
Morning guys
Watching charts today, quiet day with holidays in France, US and Canada, anyway
Noticed this 3 tap on this pair but rsi are opposite, interesting

Tom (UK)
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  • #3,844
  • Nov 11, 2010 5:34am Nov 11, 2010 5:34am
ignore last post, price shot through 3 tap

Tom (UK)
  • #3,845
  • Nov 11, 2010 5:39am Nov 11, 2010 5:39am
Quoting booktimes
ignore last post, price shot through 3 tap

Tom (UK)
no u should entered trade when 3rd tap touched trendline
good trade
Hero calls followed by margin calls...
  • #3,846
  • Nov 11, 2010 5:47am Nov 11, 2010 5:47am
Hi Phanti
The trend is very much down and all rsi tf pointing down, the 3 tap tl i drew was looking to bounce it up again, totally against the rules and it is hovering just below the tl now

Tom
  • #3,847
  • Nov 11, 2010 5:58am Nov 11, 2010 5:58am
Will it break (?)
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  • #3,848
  • Nov 11, 2010 6:06am Nov 11, 2010 6:06am
Good Morning all 3 tap NZDUSD
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Always Learning
  • #3,849
  • Nov 11, 2010 6:10am Nov 11, 2010 6:10am
3 Tap
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Always Learning
  • #3,850
  • Nov 11, 2010 6:11am Nov 11, 2010 6:11am
I'm still waiting on this pair
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  • #3,851
  • Nov 11, 2010 6:14am Nov 11, 2010 6:14am
Quoting JayTrader
3 Tap
Attachment
Hi JayTrader, I'm sorry if I'm incorrect (as I can't see you bought or sold), but do you have your TP smaller than SL ?!
.
  • #3,852
  • Nov 11, 2010 6:14am Nov 11, 2010 6:14am
Are you looking to go long on this pair? My WK and H4 rsi are suggesting short
Quoting manniMe
I'm still waiting on this pair
Always Learning
  • #3,853
  • Nov 11, 2010 6:19am Nov 11, 2010 6:19am
Yes but will adjust as trade starts moving It is just a pre set just to have a SL on the board just in case the what if happens and have TP below resistance for now, will take lot 1 off there move everything else to +3 and let the rest do whatever ( I went long this pair)
Quoting manniMe
Hi JayTrader, I'm sorry if I'm incorrect (as I can't see you bought or sold), but do you have your TP smaller than SL ?!
Always Learning
  • #3,854
  • Nov 11, 2010 6:21am Nov 11, 2010 6:21am
Quoting JayTrader
Are you looking to go long on this pair? My WK and H4 rsi are suggesting short
I don't know yet, see chart:

I believe it should go down to retest 0.76000 imho.
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  • #3,855
  • Nov 11, 2010 6:46am Nov 11, 2010 6:46am
Hi Lawgirl,

Here is the short EJ trade you and I were in yesterday. It's the 15M chart, which I used to determine a stoploss level. As you can see, I used the previous swing high and put my stop 1 pip plus spread above that, 44 pips away from entry.

Unfortunately price came up and the spread just nicked my stop and took me out and then proceeded to head down to target, -44 pips. Not quite there yet, but it looks like it will make it. I hope you're still in it.

I was trading very small, so no huge loss, just another learning experience. So my question to you is: Did you eventually place a SL, and if so, where did it go and how did you determine that level?

I'm just wondering if my SL is still too tight and need to give it even more room, or did I do the right thing, and this is just one of those trades that make traders grow old before their time.

Thanks for your help!

Wally

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"Be the change that you wish to see in the world." --Gandhi
  • #3,856
  • Nov 11, 2010 6:53am Nov 11, 2010 6:53am
Quoting Ph22
Yeah, I make that TL around 3847, so u are near a round number as well. Hoping it holds for u LG
Hoping u did hold your DD nerve on this trade last night LG
  • #3,857
  • Nov 11, 2010 7:01am Nov 11, 2010 7:01am
Quoting Wally1953
Hi Lawgirl,

Here is the short EJ trade you and I were in yesterday. It's the 15M chart, which I used to determine a stoploss level. As you can see, I used the previous swing high and put my stop 1 pip plus spread above that, 44 pips away from entry.

Unfortunately price came up and the spread just nicked my stop and took me out and then proceeded to head down to target, -44 pips. Not quite there yet, but it looks like it will make it. I hope you're still in it.

I was trading very small, so no huge loss, just another learning experience. So...
Hi Wally...I was just about to post that trade. I am up about 50 pips. No I never placed a SL on this trade because the weekly RSI stayed with me and before I went to bed, PA had already tested my resistence line and was heading down. It would have taken an extraordinary act to reverse the weekly RSI on a Thursday...not saying it could not happen, but not likely.
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  • #3,858
  • Nov 11, 2010 7:07am Nov 11, 2010 7:07am
Good morning people. Add this euro pair to the others, EU already tanking, this one is in the money also.
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  • #3,859
  • Nov 11, 2010 7:08am Nov 11, 2010 7:08am
Watching - something gotta give
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  • #3,860
  • Nov 11, 2010 7:10am Nov 11, 2010 7:10am
Quoting Ph22
Hoping u did hold your DD nerve on this trade last night LG
Yes, I did hang on to this trade. DD was over 140 pips, and I was down lots of real money. It is not quite in the money yet, but I think it will be. I really like this weekly chart.
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