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Trade What You See - Almost Naked Trading

  • #4,061
  • Nov 12, 2010 9:36am Nov 12, 2010 9:36am
RSIs all down. Looks like a BO setup.

Edit: Sorry, wrong pair in title...correct chart AUDUSD
Attached Image (click to enlarge)
Click to Enlarge Name: 4x.gif Size: 12 KB
  • #4,062
  • Nov 12, 2010 9:39am Nov 12, 2010 9:39am
Quoting florins
hi
lawgirl i see a potential BO down on aud/usd ...do u see same?
Indeed! We posted at the same time.
  • #4,063
  • Nov 12, 2010 9:43am Nov 12, 2010 9:43am
Hope everyone has a nice weekend. Im done for the week. Total this week on Law Girl Trades is 515 plus about 250 cooking on a Monthly 3tap eurusd. Please dont take this as bragging , Im am just giving stats on how Im doing on Law girl trades. Also unless their are objections I will post Live Quotes from another account I have that opens early on Sunday (1pm est) around 4:45pm est to give reference for Gaps trades on Sunday.

Take Care
Jay
Always Learning
  • #4,064
  • Edited 10:01am Nov 12, 2010 9:51am | Edited 10:01am
Quoting lawgirl21
3Tap setup, no trigger yet.
Would you please be kind enough and explain the "3-tap" here?

As I interpret the "3-tap" on your picture, ....... there are 3 Green Candles from the bottom of your TL going UP which qualifies for a "3-tap" by itself, right?

Than you draw the BO-lines on the 5th candle with the last (current) candle's wick, touching the top line of the BO-set-up. Is this what you consider to be the "3rd tap" as your reference above?

Unfortunately you do not use a clock so one cannot see how far away from present candle close you were at time of taking the screen-print.

What I see is a "Zero-line reject" (ZLR) of the RSi (taking the 50-level as "zero") which is a very strong indication of direction.

Looking forward to hearing from you.

Sincerely.
Hercs
  • #4,065
  • Nov 12, 2010 9:51am Nov 12, 2010 9:51am
Quoting JayTrader
Total this week on Law Girl Trades is 515 plus
Jay: Outstanding; glad to know it can be done. You deserve to be proud!

I had 150 pips after several foolish mistakes; howeverl I jumped in Eu short as soon as I awoke this morning NY time zone. I used to have a rule to watch mkt. for 30 minutes before trading. May dust it off...

Steve
  • #4,066
  • Nov 12, 2010 9:55am Nov 12, 2010 9:55am
Quoting JayTrader
Hope everyone has a nice weekend. Im done for the week. Total this week on Law Girl Trades is 515 plus about 250 cooking on a Monthly 3tap eurusd. Please dont take this as bragging , Im am just giving stats on how Im doing on Law girl trades. Also unless their are objections I will post Live Quotes from another account I have that opens early on Sunday (1pm est) around 4:45pm est to give reference for Gaps trades on Sunday.

Take Care
Jay
Well, Jay, unless someone tops 515...beer is definitely on you this week! I am so happy for you! That is better than I did this week. (Teachers always want their students to surpass them!....[maybe not so quickly though])

It is very important to me to know how traders are doing here. So, everyone, please tell us how you are doing...good or bad. That is the only way I can tell if this is worth my time or not.

And yes, please post your earlier market open for us on Sunday..let's see if we can get an advantage from it. Have a great weekend! You deserve it!
  • #4,067
  • Nov 12, 2010 9:57am Nov 12, 2010 9:57am
Quoting stevewide
Jay: Outstanding; glad to know it can be done. You deserve to be proud!

I had 150 pips after several foolish mistakes; howeverl I jumped in Eu short as soon as I awoke this morning NY time zone. I used to have a rule to watch mkt. for 30 minutes before trading. May dust it off...

Steve
Excellent week's work Steve!
  • #4,068
  • Nov 12, 2010 10:01am Nov 12, 2010 10:01am
Quoting lawgirl21
Well, Jay, unless someone tops 515...beer is definitely on you this week! I am so happy for you! That is better than I did this week. (Teachers always want their students to surpass them!....[maybe not so quickly though])

It is very important to me to know how traders are doing here. So, everyone, please tell us how you are doing...good or bad. That is the only way I can tell if this is worth my time or not.

And yes, please post your earlier market open for us on Sunday..let's see if we can get an advantage from it. Have a great weekend!...
How does someone keep track of all pips earned/lost? Do you write down every trade that you enter? When you say"pips"? is that assuming one lot per trade or are you multiplying by the number of lots? Would it be easier to keep track of money earned as all you would have to do is starting balance at start of week, and end balance at end of week (maybe everyoen can trade just one lot per trade) ... I don't really have the answer to this one, just tryign to see if there is a consistent way to report this number. Cheers.
  • #4,069
  • Nov 12, 2010 10:01am Nov 12, 2010 10:01am
Hi Lawgirl

My weekly pips are 132 for the week, using your superb strategy, this is my 1st week using, so I am made up with it, many many thanks, you are an angel, and have a great weekend,

Tom (UK)
  • #4,070
  • Nov 12, 2010 10:03am Nov 12, 2010 10:03am
Quoting Wally1953
Attachment
Attachment

Out with +40 pips on this quick 3-tap (also a BO) short
  • #4,071
  • Nov 12, 2010 10:07am Nov 12, 2010 10:07am
Quoting lawgirl21
It's a litle risky, but not much. Generally the only thing that will happen is that the trade will not trigger..or which is more likely, that the trade will trigger and the TP will be off. That is why I said earlier that it is a good idea not to try to bank a week's pips on this kind of trade. Stay modest with TP of 20-30 pips.

As far as watching the RSI directions after the trade triggers..they are generally going to go in different directions, especially on the lower TFs. As long as the weekly is still with us, especially from about Wednesday...

Here is an example of setting a TF too remote for a pending order. This short BO trade triggered overnight, but my TP was set at 60 pips. As you can see, had it been no more than 30 pips, it would have hit profit. I did not take my own advice..

But because of the weekly trend and now daily and H4 I should hit profit.
Attached Image
  • #4,072
  • Nov 12, 2010 10:15am Nov 12, 2010 10:15am
Hi LG
Did you count my pips too?

Tom (UK)
  • #4,073
  • Nov 12, 2010 10:15am Nov 12, 2010 10:15am
Quoting PurePrice
How does someone keep track of all pips earned/lost? Do you write down every trade that you enter? When you say"pips"? is that assuming one lot per trade or are you multiplying by the number of lots? Would it be easier to keep track of money earned as all you would have to do is starting balance at start of week, and end balance at end of week (maybe everyoen can trade just one lot per trade) ... I don't really have the answer to this one, just tryign to see if there is a consistent way to report this number. Cheers.

You should be keeping track of your winnings! We are talking about net pips. It is best not to mention money earned here because we are using different amounts and lot sizes...some are trading pennies, others are trading multiple lots..real money.

For example, when I say my goal is 100 pips per week, I am talking about net gain. I may have lost some pips along the way..but I am looking at the net gain. And when I hit that goal, whether it is on Sunday or Monday or Friday...I stop trading live (except for EURUSD is week!), because I don't want to risk losing my net gain..it is sizable money.
  • #4,074
  • Nov 12, 2010 10:17am Nov 12, 2010 10:17am
Quoting booktimes
Hi Lawgirl

My weekly pips are 132 for the week, using your superb strategy, this is my 1st week using, so I am made up with it, many many thanks, you are an angel, and have a great weekend,

Tom (UK)
Thanks Tom..great week's work!
  • #4,075
  • Nov 12, 2010 10:18am Nov 12, 2010 10:18am
Thanks LG
I felt left out then lol

take care

Tom (UK)
  • #4,076
  • Nov 12, 2010 10:19am Nov 12, 2010 10:19am
Quoting booktimes
Thanks LG
I felt left out then lol

take care

Tom (UK)
Don't want you left out..it would not have been on purpose.
  • #4,077
  • Nov 12, 2010 10:20am Nov 12, 2010 10:20am
Quoting lawgirl21
Well, Jay, unless someone tops 515...beer is definitely on you this week! I am so happy for you! That is better than I did this week. (Teachers always want their students to surpass them!....[maybe not so quickly though])

It is very important to me to know how traders are doing here. So, everyone, please tell us how you are doing...good or bad. That is the only way I can tell if this is worth my time or not.

And yes, please post your earlier market open for us on Sunday..let's see if we can get an advantage from it. Have a great weekend!...

Hi Lawgirl

My results for the week. +315 and that is only trading Uk session with no overnight trades

Many thanks for sharing once again.. Cant wait for sunday night to start now.
The Kamakazi
  • #4,078
  • Nov 12, 2010 10:23am Nov 12, 2010 10:23am
Quoting Bl888
Hi Lawgirl

My results for the week. +315 and that is only trading Uk session with no overnight trades

Many thanks for sharing once again.. Cant wait for sunday night to start now.
Wow! I am so impressed with all of you! What a extraordinary week of trading this was...and I thought the market was a little difficult this week. Excellent job, 888..have a great weekend..see you on Sunday.
  • #4,079
  • Edited 11:18am Nov 12, 2010 10:24am | Edited 11:18am
Quoting lawgirl21
Here is an example of setting a TF too remote for a pending order. This short BO trade triggered overnight, but my TP was set at 60 pips. As you can see, had it been no more than 30 pips, it would have hit profit. I did not take my own advice..

But because of the weekly trend and now daily and H4 I should hit profit.
You are a wonderful teacher. You are a wonderful person too for biving so much to us. I really needed that lesson.

Will look for trades in line with the weekly RSI-3 (bedrock) to make sure there is room from S/R to make more than the 20-30 pips TP I will set.

Even though you trust it so well to trade without a stop loss I may set one a little past the opposite 1h BO line and see how it goes.

I go to bed at 9pm EST...at the time my 4 hourly candles complete so should work out nicely.

God bless you for blessing us,

Steve
  • #4,080
  • Nov 12, 2010 10:32am Nov 12, 2010 10:32am
Quoting JayTrader
Hope everyone has a nice weekend. Im done for the week. Total this week on Law Girl Trades is 515 plus about 250 cooking on a Monthly 3tap eurusd.
Take Care
Jay
Dude, you're a machine! I already told you my total pips of around 300 for the week, but would have been 400 if not for greed and some silly mistakes. Continue to learn... have a great weekend everyone!
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