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Trade What You See - Almost Naked Trading

  • #5,601
  • Nov 26, 2010 1:58am Nov 26, 2010 1:58am
Only Lawgirls methods. I have posted the charts in the thread before I've entered every trade this week.

I've been trading just on 7 years spending probably over 15,000 hours in front of these bloody screens, staring at squiggly lines, reading books, manuals etc, winning and losing many small and two large fortunes, and I must say that this week (even tho its only in demo accounts) is nothing short of amazing.

I have increased my 2 demo accounts 50% and 35% in 5 days demo trading, risking no more than 5% of my accounts per trade (50 pip stops).

One account has has 8 closed trades (5 in profit) and 3 open all in big profit, the other account has had 9 closed trades (8 in profit) with 4 open, all in big profit.
In the days of old when sailors were bold, and seldom if ever contented.
  • #5,602
  • Nov 26, 2010 2:20am Nov 26, 2010 2:20am
i wish you great success. real challenge is kickin in when you go live.
plan to go live myself soon.

by the way.. it snows here... f** freezing

cheers
og
  • #5,603
  • Nov 26, 2010 2:52am Nov 26, 2010 2:52am
I see all forms of crazy BOs every time in this thread. May I say that BO must have at least 2 candles in the congestion area and no maximum. Someone can't possibly abitrarily draw a line in the middle of his chart and tell us a BO is expected. We're all learning and when I took up this business I was ready to be a student all my life (hope no one takes it personal tho).

Hope everyone had a great thanksgiving.

PC2
Mystery Is The Final Product Of Ignorance. Hey! What's ma chart doin'
  • #5,604
  • Nov 26, 2010 3:00am Nov 26, 2010 3:00am
Quoting Precap2
I see all forms of crazy BOs every time in this thread. May I say that BO must have at least 2 candles in the congestion area and no maximum. Someone can't possibly abitrarily draw a line in the middle of his chart and tell us a BO is expected. We're all learning and when I took up this business I was ready to be a student all my life (hope no one takes it personal tho).

Hope everyone had a great thanksgiving.

PC2
PC2 can u show on a chart a good BO and a crazy one and show the important difference between them ...thanks
  • #5,605
  • Nov 26, 2010 3:12am Nov 26, 2010 3:12am
I have closed all my trades that were open... I'm finished for the week.

I demo traded 2 accounts, one at home and one at work.

Home account... 11 trades for 8 wins, 3 losses for a Net +441 pips.

Work account... 13 trades for 11 wins and 2 losses for a Net +610 pips.

Total trades 24 for 19 wins... 79% winning trades... ave +44 pips per trade opened.

If I average the 2 accounts (because both accounts opened some trades that were the same) I can safely say I made 525 pips profit for the week... not bad for 4½ days.
In the days of old when sailors were bold, and seldom if ever contented.
  • #5,606
  • Nov 26, 2010 3:29am Nov 26, 2010 3:29am
Quoting pt49
If you're trading longer timeframes like daily or weekly, you can get away with checking the charts once or twice a day.

Checking for 3 Taps at about 2:00PM gmt and about an hour or so b4 the London open will get you more trades than you can handle.

If you are trading the 4 bar BO (hourly chart) and don't have a lot of time, just check at 4 to 5 hours after the day starts... after 2:00 PM GMT.

I guess it really depends where you are in the world.
Hi pt
Thank you for your amazing and inspiring trades descriptions.
I have one question: why you are checking 2:00 pm it is one hour after NY open, does it work the best ?
  • #5,607
  • Nov 26, 2010 3:45am Nov 26, 2010 3:45am
Quoting LFB
Hi pt
Thank you for your amazing and inspiring trades descriptions.
I have one question: why you are checking 2:00 pm it is one hour after NY open, does it work the best ?
2:00PM GMT is when the 1st 4 bars on 1 hour chart are finished each day
In the days of old when sailors were bold, and seldom if ever contented.
  • #5,608
  • Nov 26, 2010 3:48am Nov 26, 2010 3:48am
Quoting pt49
2:00PM GMT is when the 1st 4 bars on 1 hour chart are finished each day
2:00am maybe?

(just seen u are in Oz so maybe that's your chart time)
  • #5,609
  • Nov 26, 2010 3:49am Nov 26, 2010 3:49am
Looks like I stopped trading too early... all my trades that I closed an hour ago are up a combined 140 pips.

Oh well.... I gotta cook dinner and have a few beers, its Fri nite!
In the days of old when sailors were bold, and seldom if ever contented.
  • #5,610
  • Nov 26, 2010 3:53am Nov 26, 2010 3:53am
Quoting pt49
Looks like I stopped trading too early... all my trades that I closed an hour ago are up a combined 140 pips.

Oh well.... I gotta cook dinner and have a few beers, its Fri nite!
Great trading pt - how long do u plan to demo for?
  • #5,611
  • Nov 26, 2010 3:53am Nov 26, 2010 3:53am
Quoting pt49
I have closed all my trades that were open... I'm finished for the week.

I demo traded 2 accounts, one at home and one at work.

Home account... 11 trades for 8 wins, 3 losses for a Net +441 pips.

Work account... 13 trades for 11 wins and 2 losses for a Net +610 pips.

Total trades 24 for 19 wins... 79% winning trades... ave +44 pips per trade opened.

If I average the 2 accounts (because both accounts opened some trades that were the same) I can safely say I made 525 pips profit for the week... not bad for 4½ days.
Looks like with your stop loss worth 5% and 50 pip size you have managed to earn something like 50% this week ?
  • #5,612
  • Nov 26, 2010 3:54am Nov 26, 2010 3:54am
Quoting Ph22
2:00am maybe?

(just seen u are in Oz so maybe that's your chart time)
LOL... you are correct... 2PM East australian time... adjust accordingly.
In the days of old when sailors were bold, and seldom if ever contented.
  • #5,613
  • Nov 26, 2010 3:55am Nov 26, 2010 3:55am
Quoting LFB
Looks like with your stop loss worth 5% and 50 pip size you have managed to earn something like 50% this week ?
Yeppers!
In the days of old when sailors were bold, and seldom if ever contented.
  • #5,614
  • Nov 26, 2010 3:55am Nov 26, 2010 3:55am
Quoting pt49
I have closed all my trades that were open... I'm finished for the week.

I demo traded 2 accounts, one at home and one at work.

Home account... 11 trades for 8 wins, 3 losses for a Net +441 pips.

Work account... 13 trades for 11 wins and 2 losses for a Net +610 pips.

Total trades 24 for 19 wins... 79% winning trades... ave +44 pips per trade opened.

If I average the 2 accounts (because both accounts opened some trades that were the same) I can safely say I made 525 pips profit for the week... not bad for 4½ days....
those are awesome numbers,congrats
  • #5,615
  • Nov 26, 2010 3:58am Nov 26, 2010 3:58am
Quoting Ph22
Great trading pt - how long do u plan to demo for?
At least another few weeks... one swallow does not a spring make.

And I got no intention of trading live thru the holiday season, so probably mid to late January b4 I go live again.
In the days of old when sailors were bold, and seldom if ever contented.
  • #5,616
  • Nov 26, 2010 4:07am Nov 26, 2010 4:07am
Quoting LolCat
those are awesome numbers,congrats
Thank you... the beauty of LawGirls methods is that even a novice trader can work it, all they gotta do is not be greedy nor be fearful of holding onto a trade.

Just remember guys... greed and fear are our #1 enemies, and they live within all of us.
In the days of old when sailors were bold, and seldom if ever contented.
  • #5,617
  • Nov 26, 2010 4:09am Nov 26, 2010 4:09am
Quoting pt49
LOL... you are correct... 2PM East australian time... adjust accordingly.
Next week i will try to limit my trades opening to two time frames. One hour since London open, and Two hours since NY open.
  • #5,618
  • Nov 26, 2010 4:18am Nov 26, 2010 4:18am
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 pt, it is a real eye-opener to me that it's possible to trade off the weekly & daily using max 70pip sl
  • #5,619
  • Nov 26, 2010 4:40am Nov 26, 2010 4:40am
Quoting Ph22
hi pt, it is a real eye-opener to me that it's possible to trade off the weekly & daily using max 70pip sl
You've seen me post trade setup charts all week... go back, check each one against the currency pairs in your trade station and see if I'm wrong... what else you gonna do for the next 2 days anyways?

Not all of them were daily/weekly setups, but quite a few were.
In the days of old when sailors were bold, and seldom if ever contented.
  • #5,620
  • Nov 26, 2010 4:52am Nov 26, 2010 4:52am
Quoting pt49
You've seen me post trade setup charts all week... go back, check each one against the currency pairs in your trade station and see if I'm wrong... what else you gonna do for the next 2 days anyways?

Not all of them were daily/weekly setups, but quite a few were.
Hey i hope that didn't come across as I was doubting u! I already looked as most as u posted them. Just saying I always thought daily/weekly = 150+ stops and u have totally changed that mindset..tnx
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