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Trade What You See - Almost Naked Trading

  • #5,981
  • Nov 30, 2010 8:22am Nov 30, 2010 8:22am
Quoting Centu
USDCAD 1H BO

also looks quite ready to go
You need period separators Centu. Hard to tell the parameters of your trades from your charts.
  • #5,982
  • Nov 30, 2010 8:24am Nov 30, 2010 8:24am
Quoting fred12345
wow ..
and the eur/usd is heading to 1.27 just like u said couple days ago

I'm still in EURUSD too.
  • #5,983
  • Nov 30, 2010 8:25am Nov 30, 2010 8:25am
Quoting oman21
thanks lawgirl for this eye opener thread. i got BO on EU, GU and AU. this is really a good thread.
You are very welcome. Hope you make many many pips.
  • #5,984
  • Nov 30, 2010 8:29am Nov 30, 2010 8:29am
Quoting fred12345
wow ..
and the eur/usd is heading to 1.27 just like u said couple days ago
http://i51.tinypic.com/a2rsbp.gif

When EUR/USD was around 1.21 in May 2010, traders were "thinking" 1.000 would happen before the year was out. There was a poll on a forum about the Euro price. Much better to "Trade What You See" than predict.
  • #5,985
  • Nov 30, 2010 8:31am Nov 30, 2010 8:31am
Quoting lawgirl21
You need period separators Centu. Hard to tell the parameters of your trades from your charts.

Fascinating stuff LG, so thanks!

Just want to clear up the period seperator issue - its not just 4 random H1 adjoining candles, but the start of day? What is optimal start of day peeps use, London, New York?

Thanks again.
  • #5,986
  • Nov 30, 2010 8:31am Nov 30, 2010 8:31am
This chart may have been posted already..so many good trades they are hard to keep up with..but this is one we were watching last night. Had a 100+ pip BO from consolidation on the H4 chart. Beautiful!
Attached Image (click to enlarge)
Click to Enlarge Name: 4xxx.gif Size: 13 KB
  • #5,987
  • Nov 30, 2010 8:34am Nov 30, 2010 8:34am
Quoting lawgirl21
This chart may have been posted already..so many good trades they are hard to keep up with..but this is one we were watching last night. Had a 100+ pip BO from consolidation on the H4 chart. Beautiful!
Lawgirl21: Are you watching the divergence between price and RSI(3) at all?

Around Nov 19, the negative divergence on your chart was screaming, "SELL!".
  • #5,988
  • Nov 30, 2010 8:38am Nov 30, 2010 8:38am
Quoting lawgirl21
You need period separators Centu. Hard to tell the parameters of your trades from your charts.
Added for future screeners - Thx
  • #5,989
  • Nov 30, 2010 8:39am Nov 30, 2010 8:39am
Quoting bimmerbob
Fascinating stuff LG, so thanks!

Just want to clear up the period seperator issue - its not just 4 random H1 adjoining candles, but the start of day? What is optimal start of day peeps use, London, New York?

Thanks again.

No, it is not a random start of the day. It is your broker's start of the day. My broker's new trading day starts at 5:00 pm EST (New York), which is 2:00 pm my time PST (California).

It is my understanding that all brokers use 5:00 pm for end/start of new day. But when is that according to your local time? It is those first 4 H1 candles that is the measure for this BO trade. (That is why period serarators are a must.)
  • #5,990
  • Nov 30, 2010 8:41am Nov 30, 2010 8:41am
@PT

did you get the PN ? I´m not sure, didn´t see it in the outbox.

Added:

Checked the User settings - done
  • #5,991
  • Nov 30, 2010 8:41am Nov 30, 2010 8:41am
Quoting tjfxtrader
Lawgirl21: Are you watching the divergence between price and RSI(3) at all?

Around Nov 19, the negative divergence on your chart was screaming, "SELL!".
No, no divergence watching at all. I only watch RSIs for direction and PA.
  • #5,992
  • Nov 30, 2010 8:43am Nov 30, 2010 8:43am
Please explain me the situation - all arrows show one direction, after BO is done, 4H arrow change the direction and D1 also - what should i do in this situation?
  • #5,993
  • Nov 30, 2010 8:57am Nov 30, 2010 8:57am
I miss a lot of H1 BO's as they happen during Asia when I'm in the land of and I think I have missed the train. LG, I hope u don't mind me posting this for anyone in same boat but I have been having good success waiting for a pullback on H1 and entering on the break of that H1 candle only in direction of original BO with a 20pip stop and taking 20-40pips.
See charts:
Attached Image(s) (click to enlarge)
Click to Enlarge Name: EJ_H1.png Size: 47 KB
Click to Enlarge Name: GY_H1.png Size: 50 KB
  • #5,994
  • Nov 30, 2010 9:05am Nov 30, 2010 9:05am
Quoting Magnat
Please explain me the situation - all arrows show one direction, after BO is done, 4H arrow change the direction and D1 also - what should i do in this situation?
When you say "after BO is done" do you mean after the trade has run its course? That, and PA would signal to exit the trade.

Take a look at the EURGBP chart. At the BO all RSIs were down. PA had a nice trip down. Now the direction is showing ambivalence. I need to decide whether or not to exit that trade. That is a call I, as a trader, will need to make depending on whether or not I believe that after this little rest on the part of PA (consolidation), it will continue down.

No one can tell me what to do with this trade..they can give an opinion..but I make the decision and I live by it. You ask: "What should I do in this situation?" You will have to decide.
Attached Image (click to enlarge)
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  • #5,995
  • Nov 30, 2010 9:09am Nov 30, 2010 9:09am
Quoting Ph22
I miss a lot of H1 BO's as they happen during Asia when I'm in the land of and I think I have missed the train. LG, I hope u don't mind me posting this for anyone in same boat but I have been having good success waiting for a pullback on H1 and entering on the break of that H1 candle only in direction of original BO with a 20pip stop and taking 20-40pips.
See charts:
Why aren't you placing pending orders? Pullbacks are a good way to catch the long and continuing train though.
  • #5,996
  • Nov 30, 2010 9:13am Nov 30, 2010 9:13am
Quoting Ph22
I miss a lot of H1 BO's as they happen during Asia when I'm in the land of and I think I have missed the train. LG, I hope u don't mind me posting this for anyone in same boat but I have been having good success waiting for a pullback on H1 and entering on the break of that H1 candle only in direction of original BO with a 20pip stop and taking 20-40pips.
See charts:
Some issues I notice also. When I wake up I see a lot of good trades that started when I was asleep. Looking at them in the middle of a H4 candle does makes me wonder a lot. I do have to study more about entering late in the game, because I had some trades that were actually chasing and ended up losing more pips then winning. Before doing any of following or entering lately is always on demo! I do enther though if a new H4 is created and the 3 tap is available and PA is still correct, otherwise I have to conclude this trade is to risky and I should wait for the next one.
  • #5,997
  • Nov 30, 2010 9:13am Nov 30, 2010 9:13am
Quoting lawgirl21
Why aren't you placing pending orders? Pullbacks are a good way to catch the long and continuing train though.
Just personal preference LG. I never enter any BO trades without watching PA on M15 first and seeing what the RSI's are doing. Anyway I sleep better with no positions pending/open
  • #5,998
  • Nov 30, 2010 9:18am Nov 30, 2010 9:18am
nice BO
Attached Image (click to enlarge)
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  • #5,999
  • Nov 30, 2010 9:23am Nov 30, 2010 9:23am
Quoting Ph22
Just personal preference LG. I never enter any BO trades without watching PA on M15 first and seeing what the RSI's are doing. Anyway I sleep better with no positions pending/open
Understood.
  • #6,000
  • Nov 30, 2010 9:27am Nov 30, 2010 9:27am
On GU. Might be worth keeping an eye on.
Attached Image (click to enlarge)
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