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Trade What You See - Almost Naked Trading

  • #5,621
  • Nov 26, 2010 4:53am Nov 26, 2010 4:53am
can we call this as a Scrutch A++ trade?
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  • #5,622
  • Nov 26, 2010 4:59am Nov 26, 2010 4:59am
Quoting Ph22
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
The beauty is in the setups as defined by Lawgirl. I guess I do use my own knowledge of how support and resistance lines work as well tho.

I don't enter automatically on seeing a setup, I'll usually place a pending order below or above a support/resist line near the setup... I may miss some early pips in the trade but I enter with less risk, and then have the comfort of letting a trade run as well.
In the days of old when sailors were bold, and seldom if ever contented.
  • #5,623
  • Nov 26, 2010 5:03am Nov 26, 2010 5:03am
Quoting pt49
The beauty is in the setups as defined by Lawgirl. I guess I do use my own knowledge of how support and resistance lines work as well tho.

I don't enter automatically on seeing a setup, I'll usually place a pending order below or above a support/resist line near the setup... I may miss some early pips in the trade but I enter with less risk, and then have the comfort of letting a trade run as well.
Experience is for sure your big advantage. I have always problem when to decide if S/R level was confirmed or broken. How many pips from the line i have should i leave pending order. Could you help me and others and say a few words about S/R levels. Something that is key for you.
  • #5,624
  • Nov 26, 2010 5:09am Nov 26, 2010 5:09am
Quoting LFB
Experience is for sure your big advantage. I have always problem when to decide if S/R level was confirmed or broken. How many pips from the line i have should i leave pending order. Could you help me and others and say a few words about S/R levels. Something that is key for you.
5 pips below a support line is a good entry.

Generally if a strong support/res line is broken, it stays broken. Support becomes resistance, resistance becomes support.

A 50 pip stop is usually more than enough once a line is broken.
In the days of old when sailors were bold, and seldom if ever contented.
  • #5,625
  • Nov 26, 2010 5:13am Nov 26, 2010 5:13am
UsdChf BO
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  • #5,626
  • Nov 26, 2010 5:22am Nov 26, 2010 5:22am
Quoting Pip26
UsdChf BO
P26 would you be kind enough to post a link or the indicator appears on your chart below the LG arrow indicator?

Thanks in advance...
  • #5,627
  • Nov 26, 2010 5:26am Nov 26, 2010 5:26am
Quoting FXMajors
P26 would you be kind enough to post a link or the indicator appears on your chart below the LG arrow indicator?
Here it is
Attached File(s)
File Type: ex4 1000pips Mini.ex4   8 KB | 629 downloads
  • #5,628
  • Nov 26, 2010 5:33am Nov 26, 2010 5:33am
Quoting Pip26
Here it is
I have uploaded on to the chart its not working, Thanks anyways.
  • #5,629
  • Nov 26, 2010 5:51am Nov 26, 2010 5:51am
Quoting uncletrumpet
0.9670 is the level that it would touch it, so get ready to buy it there, I have been looking at this level for over 14 days. GET READY TO GO LONG ON AUD/USD, it will fetch you at least 200 pips, don't mind all those blue lines they are my minor s and r levels, the yellow lines is the main trendline of the bullish channel valid from 6th of June 2010, 6th of July, 25th of August and now this week it comes
Trend lines are made to be broken... the market does NOT respect squiggly nor straight lines we may draw.

ONLY price action can be trusted.
In the days of old when sailors were bold, and seldom if ever contented.
  • #5,630
  • Nov 26, 2010 5:52am Nov 26, 2010 5:52am
The fact that Gold is dropping helps... LOL
In the days of old when sailors were bold, and seldom if ever contented.
  • #5,631
  • Nov 26, 2010 6:04am Nov 26, 2010 6:04am
Quoting Pip26
Here it is
Is this currency strength indicator ?
  • #5,632
  • Nov 26, 2010 6:07am Nov 26, 2010 6:07am
Quoting LFB
Is this currency strength indicator ?
Yes
  • #5,633
  • Nov 26, 2010 6:08am Nov 26, 2010 6:08am
Quoting FXMajors
I have uploaded on to the chart its not working, Thanks anyways.
Ask some coder about the issue, same problem happened to some other member also.. can be broker problem.
  • #5,634
  • Nov 26, 2010 6:16am Nov 26, 2010 6:16am
Quoting Pip26
Yes
Do you know on what those values are based, other words how it is calculated?
And the most important thing, do you think it works well for H1 BOs ?
  • #5,635
  • Nov 26, 2010 6:16am Nov 26, 2010 6:16am
Quoting Pip26
Ask some coder about the issue, same problem happened to some other member also.. can be broker problem.
Thanks P I uploaded on FxPro and it's working fine.
  • #5,636
  • Nov 26, 2010 6:22am Nov 26, 2010 6:22am
Todays pip count I'm done for the day.
Lot size: 0.50 all pairs
Risk : 1.50% all pairs

EU +115
EJ + 97
GU +96
AU + 112

Thanks to LG and all the other's providing help on this thread. Patience is necessity. Have a great weekend. We'll start all over again on Monday.

Cheers
  • #5,637
  • Nov 26, 2010 6:27am Nov 26, 2010 6:27am
Quoting LFB
Do you know on what those values are based, other words how it is calculated?
And the most important thing, do you think it works well for H1 BOs ?
I am not that much technical about calculations. I m using this meter for almost 5-6 months, use only to find the strong/weak currencies combinations and then select the pairs to trade.

I am also testing it with LG method, so u can test it and find the result.
  • #5,638
  • Nov 26, 2010 6:31am Nov 26, 2010 6:31am
Quoting Pip26
I am not that much technical about calculations. I m using this meter for almost 5-6 months, use only to find the strong/weak currencies combinations and then select the pairs to trade.

I am also testing it with LG method, so u can test it and find the result.
I also need it to pick few BOs i will focus on. And that is why i am curious if you had any wrong trades with this indicator as additional trade selector.
  • #5,639
  • Nov 26, 2010 6:34am Nov 26, 2010 6:34am
I have been using this strength indicator for awhile it takes a lot of bandwidth. switching to P26 provided indicator less bandwidth does the same job.
Thanks again P
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  • #5,640
  • Nov 26, 2010 6:36am Nov 26, 2010 6:36am
Quoting FXMajors
I have been using this strength indicator for awhile it takes a lot of bandwidth. switching to P26 provided indicator less bandwidth does the same job.
Thanks again P
I am not fully comfortable to use indicator that i have no idea how it works, but i will try to test it.
If anyone of you knows where i can find any description of it, please let me know.
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