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Trade What You See - Almost Naked Trading

  • #4,821
  • Nov 18, 2010 8:36am Nov 18, 2010 8:36am
Quoting lawgirl21
GBPUSD
I probably would have jumped in and taken pips on a pure PA trade, if I was watching it closely. All that would have been needed is to exit on the first hint of a red candle.
Thank you. You are always so patient with I persistent questions seeking deeper understanding. It means alot. Steve
  • #4,822
  • Nov 18, 2010 8:39am Nov 18, 2010 8:39am
Quoting stevewide
Thank you. You are always so patient with I persistent questions seeking deeper understanding. It means alot. Steve
I enjoy your questions..keep them up.
  • #4,823
  • Nov 18, 2010 8:47am Nov 18, 2010 8:47am
Quoting lawgirl21
All of the trades I posted above are ones that I set up before bedtime last night. All of them made good pips, except USDJPY, which may yet. The system really works....
Could you please summarize how we should play BOs, as you did recently for 3Tap?
Today i am trying 3Tap mostly and would like to confirm if i understand correctly.
In the second part of week we play following Weekly RSI, but do we always enter, or something should stop us ? How good enter should look like.
What should be most important in first part of week?
Regards
  • #4,824
  • Nov 18, 2010 8:50am Nov 18, 2010 8:50am
Quoting lawgirl21
A nice BO for about 60 pips . Was on my watch list, happened overnight and I didn't set a pending order.

Indicators tell us this pair will continue long. There is now a H4 3 Tap set up, but no trigger. Does everyone understand the difference between a setup and a trigger? If not.....speak out.
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  • #4,825
  • Nov 18, 2010 8:52am Nov 18, 2010 8:52am
Here are two 3TAP trades I took last night.
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  • #4,826
  • Nov 18, 2010 8:52am Nov 18, 2010 8:52am
Quoting lawgirl21
Indicators tell us this pair will continue long. There is now a H4 3 Tap set up, but no trigger. Does everyone understand the difference between a setup and a trigger? If not.....speak out.
what des trigger mean? buy when the 3 touch candle is either green for up or red for down?
We trade to live not live to trade................
  • #4,827
  • Nov 18, 2010 9:03am Nov 18, 2010 9:03am
3 taps
gbp jpy - sorry.
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  • #4,828
  • Nov 18, 2010 9:11am Nov 18, 2010 9:11am
BO ?
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  • #4,829
  • Nov 18, 2010 9:12am Nov 18, 2010 9:12am
Atlast good move
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  • #4,830
  • Nov 18, 2010 9:14am Nov 18, 2010 9:14am
Quoting ovyeh
what des trigger mean? buy when the 3 touch candle is either green for up or red for down?
The setup would be the 3 Taps for a 3 Tap trade or the S/R lines for a BO trade.

The trigger comes after the setup..it can be hours after the setup in fact. The trigger gives us the entry into the trade after the setup has occurred. Sometimes a trigger never happens, in which case we abandon the setup.

In the chart above, the trigger will be PA heading up, in which case the candle (will likely be the next candle, or even the candle after that) will turn green, and the RSI H4 indicator will turn up. That is the trigger which tells us to enter the trade.

Requires patience.
  • #4,831
  • Nov 18, 2010 9:15am Nov 18, 2010 9:15am
UsdJpy BO
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  • #4,832
  • Nov 18, 2010 9:16am Nov 18, 2010 9:16am
Quoting ofer e
BO ?
Yes, indeed..finally..
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  • #4,833
  • Nov 18, 2010 9:19am Nov 18, 2010 9:19am
Quoting Pip26
Atlast good move
We've been expecting that move too.
  • #4,834
  • Nov 18, 2010 9:24am Nov 18, 2010 9:24am
Quoting lawgirl21
We've been expecting that move too.
Have moved to M15 for an entry.
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  • #4,835
  • Nov 18, 2010 9:25am Nov 18, 2010 9:25am
Quoting lawgirl21
Yes, indeed..finally..
Can someone on this example shortly define how you would set your SL and TP based on the R/S levels so I understand on a real time example? (I do need to learn more about this to beter understand this process)
  • #4,836
  • Nov 18, 2010 9:31am Nov 18, 2010 9:31am
UsdChf BO
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  • #4,837
  • Nov 18, 2010 9:34am Nov 18, 2010 9:34am
Quoting KillerAntz
Can someone on this example shortly define how you would set your SL and TP based on the R/S levels so I understand on a real time example? (I do need to learn more about this to beter understand this process)
Finding logical SL and TP levels:

1. Minimize your chart (minus button on platform [-]). That's called pulling back on chart.

2. Using same TF, look for a levels of support and resistence. I did not see any on the H1 TF for this pair.

3. If you don't see any, move to next higher TF. In this case the H4 chart. Again look for levels of support and resistence. I still did not see any on this TF for this pair.

4. Move to the next higher TF, the daily chart...ah ha...there they are very clear.

5. That is where I put in my TP at around 84.26.

Same thing for SL.
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  • #4,838
  • Nov 18, 2010 9:38am Nov 18, 2010 9:38am
Quoting Shearer9
Hi Lawgirl - Im an avid follower of your thread and congratulate you on your success. I have one question re your overnight trades - am I right to presume that the RSI indicators were all pointing in the right direction at the time of entering the pending trades?

Thanks
Yes, we only think about setups on confirmation on the 3 TFs at the time of set up. They may move around somewhat after setup, but we can't control that as long as the longest TF (weekly for a H1 and H4 trade) stays with us.
  • #4,839
  • Nov 18, 2010 9:44am Nov 18, 2010 9:44am
Quoting lawgirl21
Finding logical SL and TP levels:

1. Minimize your chart (minus button on platform [-]). That's called pulling back on chart.

2. Using same TF, look for a levels of support and resistence. I did not see any on the H1 TF for this pair.

3. If you don't see any, move to next higher TF. In this case the H4 chart. Again look for levels of support and resistence. I still did not see any on this TF for this pair.

4. Move to the next higher TF, the daily chart...ah ha...there they are very clear.

5. That is where I put in my TP at around...
Thank you very very much, this is explained very clear!!!
  • #4,840
  • Nov 18, 2010 9:45am Nov 18, 2010 9:45am
Quoting lawgirl21
Indicators tell us this pair will continue long. There is now a H4 3 Tap set up, but no trigger. Does everyone understand the difference between a setup and a trigger? If not.....speak out.
We had a trigger on this setup.
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