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Trade What You See - Almost Naked Trading

  • #5,541
  • Nov 24, 2010 8:06pm Nov 24, 2010 8:06pm
Quoting pt49
I should start by saying that I'm Demo trading at present

I'm up over 400 pips on my work account and 250 pips on my home account (both demo's) trading exclusively Lawgirls method.

I only started testing this method seriously on Monday... I've had 10 winners and 3 losing trades in 3 days for a total of over 650 pips profit.

Currently got 3 open trades at +220
Kudos PT! Which pairs are you trading?
  • #5,542
  • Nov 24, 2010 8:25pm Nov 24, 2010 8:25pm
Quoting FXMajors
Kudos PT! Which pairs are you trading?
Been doing best with the eur/aud and eur/cad. I closed my open trades, placed a few pending orders... aud/cad short and usd/chf long
In the days of old when sailors were bold, and seldom if ever contented.
  • #5,543
  • Nov 24, 2010 9:36pm Nov 24, 2010 9:36pm
Quoting pt49
I prefer the daily and weekly charts, and use 50 to 70 pip stops to let the trades breathe a bit. I have 3-400 pip TP's on my weekly trades, but usually close them early.

My Monday trade on the Eur/cad was sell at 1.3909 with TP at 1.3502, however I closed out at 1.3798 ... I should have stayed in obviously. Woulda been +430 by now. LOL
Hi pt49,

I was thinking of moving up a TF as well, so I can 'slow down' the pace a bit.
And since you're doing so well and it's definitely not affecting your pip level, I think I will (move to daily).
Do you mind if I ask if most of your trades are 3taps or BO's?
Thanks in advance for your reply.
  • #5,544
  • Nov 24, 2010 9:48pm Nov 24, 2010 9:48pm
Quoting forexjpn
Hi pt49,

I was thinking of moving up a TF as well, so I can 'slow down' the pace a bit.
And since you're doing so well and it's definitely not affecting your pip level, I think I will (move to daily).
Do you mind if I ask if most of your trades are 3taps or BO's?
Thanks in advance for your reply.
3 taps mainly.

If moving up to higher time frames you'll need longer stops so be careful with your risk. You may need to reduce your trade size a little.

I'm trading 1 lot on a $10,000 account... with a 50 pip stop that's $500 at risk per trade... 5%. If you are careful with your trades this is acceptable with this method.

I have had 3 trades open at the same time, however I'd only open that 3rd trade if I was well in profit on the 1st one.

THE BEST TRADES...
The BO/3tap combo is the best trade to take.... find a 4H or daily 3 tap with all RSI's in conjuntion and then look for the BO trade off the H1 in the same dirction, or the break of a key support/resist level.
In the days of old when sailors were bold, and seldom if ever contented.
  • #5,545
  • Nov 24, 2010 10:04pm Nov 24, 2010 10:04pm
Keep up the good trading everyone. I am baking pumpkin pies and getting the turkey and dressing ready for tomorrow. To all of you celebrating Thanksgiving...have a very happy one, eat too much and laugh alot with family and friends. See you back here. Rebecca
  • #5,546
  • Nov 24, 2010 11:02pm Nov 24, 2010 11:02pm
Quoting lawgirl21
Hi Scrutch-- Are you considering pairs with both set ups as A++ trades? I think we would all benefit from an elaboration on how you pick those trades.
how about we call the combination system "Combo Makyus"
"Trade Until I Come Back" Luke
  • #5,547
  • Nov 24, 2010 11:49pm Nov 24, 2010 11:49pm
Can send some to me or not?

Quoting lawgirl21
Keep up the good trading everyone. I am baking pumpkin pies and getting the turkey and dressing ready for tomorrow. To all of you celebrating Thanksgiving...have a very happy one, eat too much and laugh alot with family and friends. See you back here. Rebecca
  • #5,548
  • Nov 25, 2010 12:15am Nov 25, 2010 12:15am
Well done tj. Yes, a bit of history is useful for a bigger picture. Just a humble suggestion: can include, say, yellow color when RSI is horizontal at 3 o'clock +/- a few minutes?

Quoting tjfxtrader
http://i55.tinypic.com/2116kv5.gif

I read the word doc to catch up with the goings on here. Attached is an indicator (QuickChange_RSI) that shows if the rsi(3) is pointing up or down on H4, D1 and W1. A bit faster than looking at three charts. Having the history may help with your trading decisions.
  • #5,549
  • Nov 25, 2010 12:39am Nov 25, 2010 12:39am
I only cought 63 pips because I was too scared...
Possible were more than 200 pips (points)...
Attached Image (click to enlarge)
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There`s no life before COFFEE!
  • #5,550
  • Nov 25, 2010 1:19am Nov 25, 2010 1:19am
Quoting Edmundo
Hello all,

Sorry I know this isn't the place for this but I can't send PM since I'm junior member. Pip26 I've dl'd the 1000 pip indicator but can't seem to get it showing. Are there settings that need to be adjusted? Thanks.
Sorry for late response.. it can be broker or platform issue. there is no such settings.
  • #5,551
  • Nov 25, 2010 1:24am Nov 25, 2010 1:24am
Quoting Scrutch
Two trades that are turning out very well.
Both were H4-3T and H1-4C-BO trades.
Sitting on your hands until you find an A++ trade is worth the effort.
Nice enough moves here to make your full day sucessful.
Low risk entries with High rewards.

Attachment
Attachment

If you think you are overtrading you may want to consider just taking A++ trades.
There has been several in the past several hours.
Great approach Scrutch
  • #5,552
  • Nov 25, 2010 1:37am Nov 25, 2010 1:37am
Lets start the day.

UsdChf, ChfJpy BO
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  • #5,553
  • Nov 25, 2010 2:53am Nov 25, 2010 2:53am
Been waiting for this to setup for over 24 hours... we got 3tap and a strong resistance just above. The way will trade this is to wait for price to break above resistance at 1.0000 ... I enter when price hits 1.0005

There is also a H1 BO trade as posted by Pip26, making this trade a no-brainer in my opinion... BUT, it must break that resistance b4 I'm in.
Attached Image
In the days of old when sailors were bold, and seldom if ever contented.
  • #5,554
  • Nov 25, 2010 2:54am Nov 25, 2010 2:54am
CadChf BO
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  • #5,555
  • Nov 25, 2010 3:01am Nov 25, 2010 3:01am
Quoting pt49
Been waiting for this to setup for over 24 hours... we got 3tap and a strong resistance just above. The way will trade this is to wait for price to break above resistance at 1.0000 ... I enter when price hits 1.0005

There is also a H1 BO trade as posted by Pip26, making this trade a no-brainer in my opinion... BUT, it must break that resistance b4 I'm in.
Not easy for it to break above... play it carefully
  • #5,556
  • Nov 25, 2010 3:03am Nov 25, 2010 3:03am
Quoting Ph22
GU combo setting up. Could this be a potential "Scrutch Special?"
(post 5522) Looks like Scrutch was correct - PA sluggish overnight, more of a pop out than a break out and back in range again.
  • #5,557
  • Nov 25, 2010 3:28am Nov 25, 2010 3:28am
Quoting pt49
Been waiting for this to setup for over 24 hours... we got 3tap and a strong resistance just above. The way will trade this is to wait for price to break above resistance at 1.0000 ... I enter when price hits 1.0005

There is also a H1 BO trade as posted by Pip26, making this trade a no-brainer in my opinion... BUT, it must break that resistance b4 I'm in.
Zoom out a little and there was a trendline break on the RSI that was good for 30 pips.
  • #5,558
  • Nov 25, 2010 3:34am Nov 25, 2010 3:34am
Quoting fuzzle
Zoom out a little and there was a trendline break on the RSI that was good for 30 pips.
Thanks fuzz, but I'm not scalping, I'm looking for set and forget trades that have the potential to make 100+ pips.

I placed a BuyStop at 1.0005 with a 55 pip stop and 150 TakeProfit... if it fires up and closes out either way while I sleep, I'm ok with it.
In the days of old when sailors were bold, and seldom if ever contented.
  • #5,559
  • Nov 25, 2010 3:38am Nov 25, 2010 3:38am
I am in AUD/CHF long 1H-4C break out. What do you think about?
  • #5,560
  • Nov 25, 2010 4:29am Nov 25, 2010 4:29am
Quoting pt49
Thanks fuzz, but I'm not scalping, I'm looking for set and forget trades that have the potential to make 100+ pips.

I placed a BuyStop at 1.0005 with a 55 pip stop and 150 TakeProfit... if it fires up and closes out either way while I sleep, I'm ok with it.
1.0005 looks like a good choice
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