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Trade What You See - Almost Naked Trading

  • #4,141
  • Nov 14, 2010 8:14am Nov 14, 2010 8:14am
Quoting firecapt
Greetings LG,

Ran across your thread first of the week but didnt have time to read it all until today.Slow day at the firehouse so i read the whole thread. Great system i look forward to implementing it. I have been trading for about three years and like most traders i have spent $ on systems,indicators, signals and the famous fapturbo and other bots which was a bad thing. No more automated trading for me.

As a career fireman i enjoy helping folks and it seems that you share the same enjoyment with your thread. I hope you will keep up the good...
Glad you are here, firecapt. I went the fapturbo route too, in fact, I can't get rid of their emails, have tried. I look on that as a kind of path that must be traveled before arriving at successful trading. But maybe we can spare others that route. Thanks for the kind words.
  • #4,142
  • Nov 14, 2010 8:27am Nov 14, 2010 8:27am
Quoting stevewide
lawgirl: In post 3145 you show a Gj 4h BO short which is against the weekly rsi3. I'm reading into this that it is just an example; and you rarely, if ever, no need to, trade against the weekly rsi3. However, in this case, it ran for 100+ pips as the Gj tends to be very very volatile.

Any comments you have that might help me think this thru? I was tempted to take either the attached 4h 3 tap or the 1h BO long trade after this BO short which paid well. Like you said in another post earlier this week you prefer to trade with the weekly rsi3...just...
I could not find that chart you were referring to at post 3145, but Steve, it depends on where we are in the trading week. Yes, after say Wednesday late and certainly into Thrusday, I personally, will almost never trade against the weekly....unless consciously making a countertrade. I may miss the occasionaly good trade, but we have so many good trades, it is nothing to worry about.

I will try to find the GBPJPY chart you are referring to. As Scrutch calls it "the beast".
  • #4,143
  • Nov 14, 2010 8:47am Nov 14, 2010 8:47am
Quoting stevewide
lawgirl: In post 3145 you show a Gj 4h BO short which is against the weekly rsi3. I'm reading into this that it is just an example; and you rarely, if ever, no need to, trade against the weekly rsi3. However, in this case, it ran for 100+ pips as the Gj tends to be very very volatile.

Any comments you have that might help me think this thru? I was tempted to take either the attached 4h 3 tap or the 1h BO long trade after this BO short which paid well. Like you said in another post earlier this week you prefer to trade with the weekly rsi3...just...
I knew I would raise a few eyebrows over post #4136....both a short and a long trade. But if you run a vertical line through the breakout and another one through the 3 Tap, you will see the direcion of the RSI confirmed both. I am not positive what the weekly RSI showed on the
BO.
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  • #4,144
  • Nov 14, 2010 8:49am Nov 14, 2010 8:49am
Hi LawGirl..

I like your thread and I was follow and use your strategy for about month now.
I was able to double account in matter of about 3 weeks, with more wins than loses, but only in Demo - for now. I am sure I would maximize earnings even more if I was able to follow trades, but I could not do it because of daily job. I just set SL TP and forget it.

If it continues to perform good I will go live, and maybe quit my job.

I would like to ask you in which post can I find those indicator with arrows up and down for different time frames? See attachment? Thanks for sharing it.
  • #4,145
  • Nov 14, 2010 8:56am Nov 14, 2010 8:56am
Quoting JayTrader
Hi Pure Price,(and who ever else can benefit from this)...
Jaytrader, thanks for the pip log. It will make my life easier and more organized.
  • #4,146
  • Nov 14, 2010 9:05am Nov 14, 2010 9:05am
Hello Lawgirl,

Again thanks for your system.I have a quick question about the second part of taking breakout.The chart attached is EURJPY.H1 4 candle BOs was fine.I have a question how to take the second part of the trade when the market reverses.
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Dragon the best Indicator
  • #4,147
  • Nov 14, 2010 9:16am Nov 14, 2010 9:16am
here's a good video link to a system for trading triangles

Inserted Video
  • #4,148
  • Nov 14, 2010 10:25am Nov 14, 2010 10:25am
It is important to study charts for many reasons, most of which we will not discuss at this time. Gap chart study is particularly interesting, because we can learn so much from it.

Look at the AUDNZD H4 chart below (a chart we don't normally trade because of the spread). Using your Crosshair bar to measure Friday's close to Sunday's open, you will notice that it is approximately 53-55 pips. We start licking our lips...because we say to ourselves, "most gaps are filled, most gaps are filled" and we are banking about 50 pips in our heads. Not a bad start for the week.....we think.

This gap was no exception, it did fill...but look at what it did before it finally did so toward the end of the week. Hanging on to this pair for that 50 or so pips would have produced a DD of about 140-180 pips.

How many of us are willing to risk 180 pips for 50 pips? Now, it could be that PA continues downward, but we don't know that at this point.
Attached Image (click to enlarge)
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  • #4,149
  • Nov 14, 2010 10:35am Nov 14, 2010 10:35am
Quoting BatmanXXL
Hi LawGirl..

I like your thread and I was follow and use your strategy for about month now.
I was able to double account in matter of about 3 weeks, with more wins than loses, but only in Demo - for now. I am sure I would maximize earnings even more if I was able to follow trades, but I could not do it because of daily job. I just set SL TP and forget it.

If it continues to perform good I will go live, and maybe quit my job.

I would like to ask you in which post can I find those indicator with arrows up and down for different time frames?...
Glad you are having success Batman. The indicator is on page 1.

But remember it is not this system that must continue to perform well, it will because it is based on classic principles, rather it is the trader who must continue to perform well.
  • #4,150
  • Nov 14, 2010 10:40am Nov 14, 2010 10:40am
Quoting SkullCandy
lawgirl, how do you think about 2morow in Eur/Usd? Still will go down with no reason, or maybe,maybe.. Will get back to the top? )
I have no way of knowing, SC. My money is on continuing down however. But, this is the only pair that I have any emotion about, so I have to give you that disclosure.
  • #4,151
  • Nov 14, 2010 10:43am Nov 14, 2010 10:43am
Quoting piporary
Look at the same trade on a H1 chart with a 15 sma on it-----nothing else. That is what I call naked trading.

Post the pair please, piporary. Our only cardinal rule here!
  • #4,152
  • Nov 14, 2010 10:50am Nov 14, 2010 10:50am
Quoting holister
Because I'm a new guy, my first few posts get read by mods first and I see you found the how-to for posting chart clips in the meantime. I posted a reply around 6am Sat morning and as of 6pm, my post is still not shown on the thread... So... when this does show up... here's how I did those

(my original reply)
I use open source software which has everything Windows could dream of and more. It's all FREE and source code is open to public. It's a great thing. Anyway... For this, I used a screen capture program with "region" selection...
You got it! That's why this simple system is really not so simple as it calls for discretion on the part of the trader. I hope you are demoing first because of that. We almost never have to "jump in" as things on the H4 chart do not move that quickly, in fact, it is generally better to watch PA for awhile before entering. On H1 BO trades we sometimes do just jump in, however.

Thanks for the explanation for your charts. I really like them. I received other suggestions before you posted and actually spent hours working on it yesterday.

Glad to have you join us.
  • #4,153
  • Nov 14, 2010 11:05am Nov 14, 2010 11:05am
could someone be nice giving me indi what shows the m,w.d.h4 and h1 trend direction
  • #4,154
  • Nov 14, 2010 11:54am Nov 14, 2010 11:54am
Quoting lawgirl21
I could not find that chart you were referring to at post 3145, but Steve, it depends on where we are in the trading week. Yes, after say Wednesday late and certainly into Thrusday, I personally, will almost never trade against the weekly....unless consciously making a countertrade. I may miss the occasionaly good trade, but we have so many good trades, it is nothing to worry about.

I will try to find the GBPJPY chart you are referring to. As Scrutch calls it "the beast".
Hi lawgirl again.

I'm so sorry. It was post 3146. I apologize for that and you answered my question well. Thanks again.
Steve
  • #4,155
  • Nov 14, 2010 12:00pm Nov 14, 2010 12:00pm
Quoting mg_vinodkuma
Hello Lawgirl,

Again thanks for your system.I have a quick question about the second part of taking breakout.The chart attached is EURJPY.H1 4 candle BOs was fine.I have a question how to take the second part of the trade when the market reverses.
hi
could you share with us your indicator please

thanks
  • #4,156
  • Nov 14, 2010 12:46pm Nov 14, 2010 12:46pm
These are live Quotes, A little early I will re post them at 4:45 est
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Always Learning
  • #4,157
  • Nov 14, 2010 12:46pm Nov 14, 2010 12:46pm
Hi all
During this weekend i have tried to do some chart analyzes for seven main pars which i will try to focus on this week. USD/CAD, GBP/USD and GBP/JPY have 3tap setup, this one at USD/CAD looks very promising. I am attaching charts with my analyzes. The worst thing is that it all will be obsolete when i will wake up. (I am at GMT+1 timezone) and forex starts at 23:00 my time. There is one fibo on it, all other are just pure naked S/R lavels and channels
Attached Image (click to enlarge)
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  • #4,158
  • Nov 14, 2010 12:52pm Nov 14, 2010 12:52pm
Hi LG and others,

I have gone down the path of EA's; been on courses with so called 'traders' and have traded manual fx strategies for some years, all with some limited success. Came across this thread by accident last week whilst researching fx indicators and other strategies.

LG I commend you on an excellent method http://cdn.forexfactory.com/images/icons/icon14.gif and thread, which I have now read almost 50% of. I have also started trying it out on demo and the results are starting to show promise. I will try to contribute where I can as I become more familiar with the 3T/BO and gap trade strategies

Thanks again LG for the sharing of knowledge and also to the contributors. It is not often one comes across such a generous thread. Congratulations
  • #4,159
  • Nov 14, 2010 1:17pm Nov 14, 2010 1:17pm
Hi LG, i thank you for this thread, i have been flicking on and off it for a couple of weeks and promising myself to read the whole thread from start to finish, well today was that day, and i love it, mainly because is just so simple and clean.

Like you i have paid bucket loads of cash for systems,some that work and unfortunately lots that do not, but along the road of trying these systems i have also required a good education about FX, mainly from trying to figure out why they didnt work out.

So i would like to thank you for taking the time to keep this thread running with some nice simple material to help us just have that little extra edge


Thanks

David
  • #4,160
  • Nov 14, 2010 3:04pm Nov 14, 2010 3:04pm
Hi lawgirl

I have recently come across your thread and find the system that you have most appealing and will be looking to try it out over the next few weeks. I have downloaded the indicator, but at the moment it comes up with numerous pairs on each timeframe - how do i get it only to show the pair which i have open.

Thanks
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