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Trade What You See - Almost Naked Trading

  • #4,341
  • Nov 15, 2010 8:21pm Nov 15, 2010 8:21pm
Long H1 4C BO..Resistence at the 84.90 level, but still room to travel 35-40 pips.
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  • #4,342
  • Nov 15, 2010 8:27pm Nov 15, 2010 8:27pm
does the BO trade include the current hourly candle???

I thought it included 5,6,7,8 pm EST candles
  • #4,343
  • Nov 15, 2010 8:30pm Nov 15, 2010 8:30pm
Quoting lawgirl21
Long H1 4C BO..Resistence at the 84.90 level, but still room to travel 35-40 pips.
Not that I want to question the master's decisions, but I honestly don't see the breakout on the CHFJPY that you took long.. was your entry based on the RSI agreement? Or did you mean this was a "watch" setup?

puzzled,

Joe
  • #4,344
  • Nov 15, 2010 8:31pm Nov 15, 2010 8:31pm
Quoting jsmanuse
Not that I want to question the master's decisions, but I honestly don't see the breakout on the CHFJPY that you took long.. was your entry based on the RSI agreement? Or did you mean this was a "watch" setup?

puzzled,

Joe

don't thiunk LG entered long yet.. it is just a heads up for a long
  • #4,345
  • Nov 15, 2010 9:03pm Nov 15, 2010 9:03pm
4H chart ...
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  • #4,346
  • Nov 15, 2010 9:04pm Nov 15, 2010 9:04pm
Quoting PurePrice
Pending order at 113.15
Hey PP, I'm with you on that one, let's make some $$. I'm shooting for 30pips.
PP
  • #4,347
  • Nov 15, 2010 9:17pm Nov 15, 2010 9:17pm
Quoting pippete
Hey PP, I'm with you on that one, let's make some $$. I'm shooting for 30pips.
PP
sounds good
  • #4,348
  • Nov 15, 2010 9:31pm Nov 15, 2010 9:31pm
Hi , just arrived home checking if there is any opportunity to learn and trade.
esz
Blessed are they who maintain justice, who constantly do what is right.
  • #4,349
  • Nov 15, 2010 9:41pm Nov 15, 2010 9:41pm
I love the way LG and everyone else has explained this type of trading. It is easy to understand with no emotion attached to when and how to get out of the trade. I so very much appreciate it because I still get nervous just playing on the demo account, wanting to do good before going live. Thank You Everyone. :o) I will be watching and joining in on the fun!
  • #4,350
  • Nov 15, 2010 9:47pm Nov 15, 2010 9:47pm
Quoting evasz
Hi , just arrived home checking if there is any opportunity to learn and trade.
esz
I only see usdcad 3-tap short ... but i don't follow all pairs
  • #4,351
  • Nov 15, 2010 10:01pm Nov 15, 2010 10:01pm
Quoting PurePrice
does the BO trade include the current hourly candle???

I thought it included 5,6,7,8 pm EST candles
It includes the first four candles candles of the new trading day. For me that is 2,3,4,5 PST which is 5,6,7,8 EST (I think, I'm terrible with time zones).

I often start setting the S/R lines early, knowing that I will need to adjust after the close of the 5:00 p.m. candle, but usually not much.
  • #4,352
  • Nov 15, 2010 10:02pm Nov 15, 2010 10:02pm
Quoting Triple Kiss
Hello LawGirl and All Friends,
Newbe In here, i want to ask How you insert the Little H1,D1,W1,MN Arrow in the right of Yor RSI indicator?

I'm Begin Practising These Almost Naked System in Demo Acc.
Hope I will be better trader. Thanks Alot LG for Sharring it with us.
Page 1. Welcome!
  • #4,353
  • Nov 15, 2010 10:04pm Nov 15, 2010 10:04pm
Quoting PurePrice
don't thiunk LG entered long yet.. it is just a heads up for a long
That's correct..thanks.
  • #4,354
  • Nov 15, 2010 10:06pm Nov 15, 2010 10:06pm
Quoting lawgirl21
It includes the first four candles candles of the new trading day. For me that is 2,3,4,5 PST which is 5,6,7,8 EST (I think, I'm terrible with time zones).

I often start setting the S/R lines early, knowing that I will need to adjust after the close of the 5:00 p.m. candle, but usually not much.

Thanks LG .. but when you posted BO trades, they included 6pm oclock hour candle's body, which is your 5th hour .. I am a bit confused
  • #4,355
  • Nov 15, 2010 10:07pm Nov 15, 2010 10:07pm
Quoting PurePrice
4H chart ...
I've been short this pair for the past 16 hours...getting very bored with it.
Attached Image (click to enlarge)
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  • #4,356
  • Nov 15, 2010 10:09pm Nov 15, 2010 10:09pm
Hello PP,
Newbe In here, i want to ask How you insert the Little H1,D1,W1,MN Arrow in the right Top your Chart?http://cdn.forexfactory.com/images/s...m/confused.gif

I'm Begin Practising These Almost Naked System in Demo Acc.
THX PP


Quoting PurePrice
4H chart ...
  • #4,357
  • Nov 15, 2010 10:10pm Nov 15, 2010 10:10pm
Quoting PurePrice
Thanks LG .. but when you posted BO trades, they included 6pm oclock hour candle's body, which is your 5th hour .. I am a bit confused

You are right. My platforms line drawing button is hard to control and goes wobbly if it is not extended out. I hate it because I can't be exact with it. But I was looking at those first four candles basically.
  • #4,358
  • Nov 15, 2010 10:18pm Nov 15, 2010 10:18pm
Night all...I hope to wake to see that you all have made lots of pips.
  • #4,359
  • Nov 15, 2010 10:28pm Nov 15, 2010 10:28pm
Thanks LG I my self have hard tome to keep my self awake.
Blessed are they who maintain justice, who constantly do what is right.
  • #4,360
  • Nov 15, 2010 10:44pm Nov 15, 2010 10:44pm
Hello everyone! I have been following this thread for a few weeks now and trying out this method. I start to get the hang of it and I like it. I have a question though.

Since trading is a game of probabilities, how do you make profit trading this way?

Would this method be profitable because you would make more successful trades than losing ones or because your RRR (risk to reward ratio) would be higher than 1:1 so even if you lose more than you win, you can still come out profitable?

My problem I am trying to fix trading this method is SL and TP. How do you guys determine your SL and TP? I would usually try to have at least 1:1.5-2 RRR but a lot of times I have noticed that a trade would be complete to take profits at 1:1 RRR and then reverse. I feel like trading with 1:1 RRR (sometimes even lower like 1:0.8) would be ideal but too risky because you could incur higher losses than profits (but I see it happen a lot of times).

So that's why I would like to know how is this method profitable - more winning trades or better RRR.
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