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Trade What You See - Almost Naked Trading

  • #5,001
  • Nov 21, 2010 5:56am Nov 21, 2010 5:56am
Quoting pt49
Ph22... you can overcome the fear factor by reducing your lot size... and in doing so hopefully allow your trades to run to their 80-150 pips.

The other answer may be to take ½ your trade off the table at +20 pips, move your stop to break even or to the level that the 3rd tap hit the line... and let that balance run to 80-100 pips (or whatever you are comfortable with).
Hoping to achieve that but at the moment I already trade the smallest size available to me so no option to reduce or take half off until I get my account back up.
  • #5,002
  • Nov 21, 2010 6:28am Nov 21, 2010 6:28am
I know this thread is not news driven, but this could make early Dec trading "interesting"
http://www.guardian.co.uk/world/2010...otest-campaign
  • #5,003
  • Edited 7:37am Nov 21, 2010 7:21am | Edited 7:37am
Have put USDCAD at my watchlist and wait for confirmation with the Daily and H4.

Try to trade the box and will wait of any breakouts in the future.
Attached Image (click to enlarge)
Click to Enlarge Name: USDCAD, Weekly, 2010 November 21.jpg Size: 171 KB
  • #5,004
  • Nov 21, 2010 7:38am Nov 21, 2010 7:38am
Quoting pt49
Now my question is...

Lawgirl says she has no losing trades (or very few)... so I wonder what stops she is using.

I have traded live accounts without using stops and ultimately they all got in trouble at some point. The most I lost on a live account is a lot... not a traded lot, but a LOT (well over 6 figures in fact).

I haven't been watching this method long enough to know how good it is, but it would be interesting to know what size stops you guys are using for your 4 hour, 1 day and weekly trades.
I hope I did not say that I have no losing trades (or very few). I have plenty, but as I put every trade up on my demo screen before going live, I do have few losing live trades.
  • #5,005
  • Nov 21, 2010 7:49am Nov 21, 2010 7:49am
Quoting Forexcube
Have put USDCAD at my watchlist and wait for confirmation with the Daily and H4.

Try to trade the box and will wait of any breakouts in the future.
The USDCAD weekly chart has looked like this for the entire year. Even now at the end of the trading month, the direction is unclear. There are other pairs which have weekly charts showing definite, definable direction. Why waste time on this one?
Attached Image (click to enlarge)
Click to Enlarge Name: 4xxx.gif Size: 12 KB
  • #5,006
  • Nov 21, 2010 7:52am Nov 21, 2010 7:52am
Quoting chanu
Thanx Lawgirl for an awesome thread.....and your prompt and honest feedback has made this even better

May you get all the Pips that you wish for !

I shall post further when I have something useful to share...which I will definately soon enough....

take care

chanu
Thanks for your kind words, chanu. So glad you joined us.
  • #5,007
  • Nov 21, 2010 7:59am Nov 21, 2010 7:59am
Quoting Ph22
I know this thread is not news driven, but this could make early Dec trading "interesting"
http://www.guardian.co.uk/world/2010...otest-campaign

Oh jeez.... how are we as traders supposed to react to this...do we trade? don't we trade? We could have a 10 page discussion on it. Thanks for pointing it out to us, but again trying to determine the impact of most news events more often than not..paralyzes traders. The charts will hold the truth.
  • #5,008
  • Nov 21, 2010 8:10am Nov 21, 2010 8:10am
Quoting Ph22
Hi LG, I think all of these were more or less by the book tho I may have slightly pre-empted rsi on a couple if PA was moving in desired direction with some momentum.

Sun: UC short 15pips - Gap
Mon: No trades
Tue: EU short 35pips - 3tap 1600
Tue: AU short 20pips - 3tap 1600
Tue: GU short 20pips - BO 1700

Wed: GU long 15pips - BO 1100
Thu: EJ long 24pips - 3tap 1600
Fri: EJ long 20pips - 3tap 0800
Fri: GU short 15pips - BO 1400

(Last column is fxdd candle time.)

As u can see, my problem is not greed but fear ie I usually exit too early...

Thanks for posting them. I wanted to look back at my charts and make sure I didn't miss anything. You are sounding disappointed that you had a week of 150+ pips. Do this consistently, without trying to squeeze every last pip and you will obtain real wealth. Remember Bernard Baruch.
  • #5,009
  • Edited 8:32am Nov 21, 2010 8:16am | Edited 8:32am
Quoting lawgirl21
The USDCAD weekly chart has looked like this for the entire year. Even now at the end of the trading month, the direction is unclear.
...due to the fact of this resistance line (see monthly chart below, please).

Quoting lawgirl21
There are other pairs which have weekly charts showing definite, definable direction. Why waste time on this one?
I don't think so that I have to give an obligation to provide in form of posting the best currency chart of all, only one with which I have make up my mind, ...will also make money in the next time, may be next week again.

Kindest regards
FXcube
Attached Image (click to enlarge)
Click to Enlarge Name: USDCAD, Monthly, 2010 November 21.jpg Size: 179 KB
  • #5,010
  • Nov 21, 2010 8:39am Nov 21, 2010 8:39am
Quoting Forexcube
...due to the fact of this resistance line (see monthly chart below, please).



I don't think so that I have to give an obligation to provide in form of posting the best currency chart of all, only one with which I have make up my mind, ...will also make money in the next time, may be next week again.

Kindest regards
FXcube
You certainly do not have an obligation to provide anything here...I am the only one with an obligation here, and that obligation includes providing feedback to traders who post. Do not post here if you do not want feedback from me or from others. There are plenty of other threads where you can declare your intentions when your "mind is made up", perhaps you should find them.
  • #5,011
  • Nov 21, 2010 9:00am Nov 21, 2010 9:00am
Quoting lawgirl21
The USDCAD weekly chart has looked like this for the entire year. Even now at the end of the trading month, the direction is unclear. There are other pairs which have weekly charts showing definite, definable direction. Why waste time on this one?
Stop shooting off your big mouth!

Explain what is unclear at this monthly chart?

Don't you see the force resistance line?

Are you paying from the brokers?
  • #5,012
  • Nov 21, 2010 9:14am Nov 21, 2010 9:14am
Quoting Forexcube
Stop shooting off your big mouth!

Explain what is unclear at this monthly chart?

Don't you see the force resistance line?

Are you paying from the brokers?
You should learn to tame your tamper before being rude to nice and helpfull people.
Looks like you have a serious problem with your tamper.

Try to improve that - or leave this good thread alone.
  • #5,013
  • Nov 21, 2010 9:28am Nov 21, 2010 9:28am
The chart you posted really has nothing to do with the method LawGirl is trying to set forth here.
Please keep it civil.

Quoting Forexcube
Stop shooting off your big mouth!

Explain what is unclear at this monthly chart?

Don't you see the force resistance line?

Are you paying from the brokers?
Listen to the whispers.... You may learn something
  • #5,014
  • Nov 21, 2010 9:33am Nov 21, 2010 9:33am
How is every body today, I like to thank you LawGirl very much your help and dedication to this forum, and most of us here feel the same way it is GREATLY appreciated.

Have a wonderful day.
Respectfully

esz

"The Lord has made himself known,he has executed judgement, the wicked are snared in the work of their own hands."

Psalm9:16RSV
Blessed are they who maintain justice, who constantly do what is right.
  • #5,015
  • Nov 21, 2010 9:59am Nov 21, 2010 9:59am
Quoting Forexcube
Stop shooting off your big mouth!

Explain what is unclear at this monthly chart?

Don't you see the force resistance line?

Are you paying from the brokers?
This is most certainly a very rude comment. Why in the world do you need to post such things on a thread where EVERYONE (except you apparently) is polite and respectful toward someone who is generous and patient enough to start an excellent and very successful thread? I for one hope that you can cool your jets and show some respect for everyone here.

In my opinion, Lawgirl is 100% correct to point out that it is always a waste of time to guess what will happen with markets that are acting like USDCAD where it is very unclear how they will behave. There are many other much more promising markets.

Joe
  • #5,016
  • Nov 21, 2010 10:07am Nov 21, 2010 10:07am
Quoting lawgirl21
Besides all of what you are saying, which I totally agree with...I would never, never, never let any forex broker hold that much of my money.
Hehe- veeerrry smart Lawgirl... but then again you ARE a lawyer. I know someone who was on the hook for $100k a few years back when REFCO went bankrupt and he, like many others could not withdraw their cash as it was "locked" in their trading accounts until the completion of legal proceedings. Soon the accounts were valued at a fraction of their original size.
  • #5,017
  • Nov 21, 2010 10:07am Nov 21, 2010 10:07am
Quoting Forexcube
Stop shooting off your big mouth!

Explain what is unclear at this monthly chart?

Don't you see the force resistance line?

Are you paying from the brokers?
Yes, Pleas leave us with Lawgir method .
We found it very good for us and we love the way that Lawgirl lead this thread.
You invited to find a diffrent thread for your big mouth.
let us stick with this wanderful person and method.
  • #5,018
  • Nov 21, 2010 10:23am Nov 21, 2010 10:23am
Quoting jsmanuse
Hehe- veeerrry smart Lawgirl... but then again you ARE a lawyer. I know someone who was on the hook for $100k a few years back when REFCO went bankrupt and he, like many others could not withdraw their cash as it was "locked" in their trading accounts until the completion of legal proceedings. Soon the accounts were valued at a fraction of their original size.

That's why I like a $10,000 account. Build up to $15,000, withdraw $5,000, give the first $5k to your spouse to do with what they please, no questions asked. Build up again, withdraw $5k pay off the car, whatever....on and on. It of course can be done on any size account.

The beauty of this, and I believe we talked about this a few weeks ago, is that the trade lot size and the trading psychology never changes... from 10-15K.. then repeats 10-15K, over and over again. It is a wonderful thing and very doable.
  • #5,019
  • Nov 21, 2010 10:34am Nov 21, 2010 10:34am
guys can someone recommend me some MT4 micro account broker(with debit card deposit), my broker is hunting my SL like they are unicorns ! its becoming frustrating !

btw this is a best setup and trigger of week !!
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD.jpg Size: 74 KB
Help to be helped.
  • #5,020
  • Nov 21, 2010 10:39am Nov 21, 2010 10:39am
Quoting lawgirl21
That's why I like a $10,000 account. Build up to $15,000, withdraw $5,000, give the first $5k to your spouse to do with what they please, no questions asked. Build up again, withdraw $5k pay off the car, whatever....on and on. It of course can be done on any size account.

The beauty of this, and I believe we talked about this a few weeks ago, is that the trade lot size and the trading psychology never changes... from 10-15K.. then repeats 10-15K, over and over again. It is a wonderful thing and very doable.
A very very nice view!!!
Maybe I can get there some day too. I just started with € 1000,- and I have to acquire those missing € 9000,- by trading.
With your system I think I could make it.
Tank you very very much Lawgirl21 for this thread!
There`s no life before COFFEE!
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