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Trade What You See - Almost Naked Trading

  • #5,321
  • Nov 23, 2010 6:41am Nov 23, 2010 6:41am
Congratz Lazar!

Your chart with mini-charts looks cool. How do you do that?

Thx.

Quoting Lazar83
i am in USDCHF from 0.9868 Sl25 tp50 ! this pair broke Tl and its going down

exited after 25 pips ! waiting for reentry
  • #5,322
  • Nov 23, 2010 6:43am Nov 23, 2010 6:43am
Made my pips today. After two bad weeks.
Attached Images
  • #5,323
  • Nov 23, 2010 6:45am Nov 23, 2010 6:45am
The eur/cad is still a valid 3 tap trade, and I'll most likely re-enter it on the retrace. Being midnight here, I may place a pending order b4 bed.
In the days of old when sailors were bold, and seldom if ever contented.
  • #5,324
  • Nov 23, 2010 6:52am Nov 23, 2010 6:52am
Quoting Dl17
how different our charts are!

good trading PT49.
Our charts are different because our brokers are in different timezones no doubt. Mine is in Europe.

Being 4H candles our charts would look the same if our brokers were apart in multiples of 4 hours (say 12 hours), but if they are 14 hours apart, the candles will be different.

I think our daily charts will be identical.
Attached Image (click to enlarge)
Click to Enlarge Name: eur-cad daily.jpg Size: 91 KB
In the days of old when sailors were bold, and seldom if ever contented.
  • #5,325
  • Edited 7:20am Nov 23, 2010 6:55am | Edited 7:20am
Quoting pt49
Our charts are different because our brokers are in different timezones no doubt. Mine is in Europe.

Being 4H candles our charts would look the same if our brokers were apart in multiples of 4 hours (say 12 hours), but if they are 14 hours apart, the candles will be different.

I think our daily charts will be identical.
My broker is europe based and a "bank" too.
Attached Image (click to enlarge)
Click to Enlarge Name: eurcad1Ddukasmt4.PNG Size: 27 KB
  • #5,326
  • Nov 23, 2010 6:57am Nov 23, 2010 6:57am
mmmm... well so much for that theory.
In the days of old when sailors were bold, and seldom if ever contented.
  • #5,327
  • Nov 23, 2010 7:00am Nov 23, 2010 7:00am
Quoting JayTrader
... so your saying the one with the gap has more price manipulation .?
No, the opposite in fact.
In the days of old when sailors were bold, and seldom if ever contented.
  • #5,328
  • Nov 23, 2010 7:03am Nov 23, 2010 7:03am
Thanks for clearing that up.
Quoting pt49
No, the opposite in fact.
Always Learning
  • #5,329
  • Nov 23, 2010 7:32am Nov 23, 2010 7:32am
Hi Lawgirl

Further to my question in post #5299, may I know what is roughly the win rate of the 3 tap & H1 4 candle b/o strategies based on your experience? The reason for asking is to know what risk reward ratio I shd be looking at before taking a trade.

Peace!
  • #5,330
  • Nov 23, 2010 7:43am Nov 23, 2010 7:43am
Thank U LG for your system trading but i don't know to exit (i mean good exit)
Attached Image (click to enlarge)
Click to Enlarge Name: ok.jpg Size: 81 KB
"Trade Until I Come Back" Luke
  • #5,331
  • Nov 23, 2010 7:47am Nov 23, 2010 7:47am
I woke to several trades that triggered and hit TP;
GBPUSD +25
EURCAD + 40
EURJPY + 50

CHFJPY triggered long, but my TP was too high and was not hit. Will probably cut my losses on this one.

EURUSD short trade in the money again.
  • #5,332
  • Nov 23, 2010 7:50am Nov 23, 2010 7:50am
Quoting CollectPIPS
Hi Lawgirl

Further to my question in post #5299, may I know what is roughly the win rate of the 3 tap & H1 4 candle b/o strategies based on your experience? The reason for asking is to know what risk reward ratio I shd be looking at before taking a trade.

Peace!
Sorry, CP, I don't keep those stats. They would be different for each trader anyway. I can say that I seldom have a losing live trade using either system.
  • #5,333
  • Nov 23, 2010 7:54am Nov 23, 2010 7:54am
Quoting CollectPIPS
Thank you Precap (PC?). What you said is correct in general. But not sure in this LG's H1 4 candle b/o trade.

Assuming daily ATR is 100 pips, & let's say the high-low distance for the 4 candles is 70 pips (sorry for taking it to that extreme, which is usually unlikely, esp in the 1st 4 hours of the day; but just to illustrate a point), that wld theoretically leave only 30 pips more to go vis-a-vis a stop loss behind the line on the other side which is 70 pips away. This wld not be a good trade to take then. Of course, there is no reason why price...
Sorry I couldn't reply quickly, I went on a munching break

A whole lot of traders might be considering ATR before placing orders, but I don't. It's basically academic to me, the market doesn't know about ATR unless momentum is not there, then you know you have an illiquid, quiet market. And BO doesn't often happen in such market.
That's just my personal views.

Peace!
Mystery Is The Final Product Of Ignorance. Hey! What's ma chart doin'
  • #5,334
  • Nov 23, 2010 7:54am Nov 23, 2010 7:54am
That daily 3 Tap we talked about yesterday did have more steam.
Attached Image
  • #5,335
  • Nov 23, 2010 7:56am Nov 23, 2010 7:56am
Quoting superpipo
Thank U LG for your system trading but i don't know to exit (i mean good exit)
Exit a little "shy" of a logical support area for a short trade or resistence area for a long trade.
  • #5,336
  • Nov 23, 2010 7:59am Nov 23, 2010 7:59am
Quoting Precap2
Sorry I couldn't reply quickly, I went on a munching break

A whole lot of traders might be considering ATR before placing orders, but I don't. It's basically academic to me, the market doesn't know about ATR unless momentum is not there, then you know you have an illiquid, quiet market. And BO doesn't often happen in such market.
That's just my personal views.

Peace!
Very well said, PC2. I don't know of anyone here who uses it, as it is the first time ATR has been mentioned.
  • #5,337
  • Nov 23, 2010 8:01am Nov 23, 2010 8:01am
Quoting pt49
I closed out my 3 trades on the EUR/CAD that I placed yesterday... net profit of 286 pips. That increased the bottom line by 35%.
That is fantastic. I hope you stop trading live for the week now.
  • #5,338
  • Nov 23, 2010 8:04am Nov 23, 2010 8:04am
Quoting Fitness09
Just closed up 51 pips on the E/U 4H 3T trade from earlier. Just tired and going to sleep.
I do that sometimes, just too tired to care. Sounds like you have more than made up for the gap losses. I am so pleased about that.
  • #5,339
  • Nov 23, 2010 8:05am Nov 23, 2010 8:05am
Quoting mikok730
hi lawgirl,can you give some example the differences between a 3 tap trade and non 3 tap trade,i am still a bit confuse about it.thanks
The entire thread is filled with examples.
  • #5,340
  • Nov 23, 2010 8:07am Nov 23, 2010 8:07am
Quoting CollectPIPS
Like most fx traders I was totally overwhelmed when I 1st entered the market. There were uncountable number of “gurus” out there touting innumerable strategies of diff shapes & colors; myriads of EAs costing from $29 to thousands, that were supposedly to make you filthy rich within a very short span of time; all those indicators flying around; & not to forget those trdg signals for sale ……

Having been in the wilderness, losing more than winning along the way I thanked God for leading me to this site, this thread, these people here…… It is so reassuring...
Glad you are here CP. I think your question was answered, but no we do not have a rule on the distance between the S/R lines.
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