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Trade What You See - Almost Naked Trading

  • #6,101
  • Edited 6:07am Dec 1, 2010 5:53am | Edited 6:07am
Quoting stevewide
I can't take a long with the weekly rsi3 barely pointing up. It can turn down quicker than most of us think...just an opinion.
good point.
on ur experience, normally how long you observe so you can much confidence on the pointing direction is much stable?
  • #6,102
  • Dec 1, 2010 5:54am Dec 1, 2010 5:54am
Quoting LFB
CHF/JPY h4 3Tap and trigger
Few minutes later and all RSIs mixed like hell, i think i should consider it as BO setup not 3tap, looks like i am gonna lose again.
  • #6,103
  • Dec 1, 2010 6:02am Dec 1, 2010 6:02am
Quoting LFB
Few minutes later and all RSIs mixed like hell, i think i should consider it as BO setup not 3tap, looks like i am gonna lose again.
same here LFB... i m holding it as 83.40 is rejecting pretty well.
  • #6,104
  • Dec 1, 2010 6:07am Dec 1, 2010 6:07am
Quoting Pip26
same here LFB... i m holding it as 83.40 is rejecting pretty well.
i can tell that your entry point was 15 pips better.
  • #6,105
  • Dec 1, 2010 6:10am Dec 1, 2010 6:10am
Quoting pt49
The aussie has dropped a bit the last week or so and may consolidate b4 one last drop to around 9380
equity markets looking pretty green, Portugal raised money pretty easily, sovereign issues still remain, china might do another tightening later this month. i think it will test 0.97 and consolidate, depending on the US data tonight
  • #6,106
  • Dec 1, 2010 6:35am Dec 1, 2010 6:35am
Quoting LFB
i can tell that your entry point was 15 pips better.
SL hit
  • #6,107
  • Dec 1, 2010 7:15am Dec 1, 2010 7:15am
Quoting lawgirl21
AUDJPY
I'm in this trade. Should work like any other 3 Tap trade. I also like the third tap pinbar.
Down 100 pips.
  • #6,108
  • Dec 1, 2010 7:26am Dec 1, 2010 7:26am
At least this pair is doing what it "supposed" to do. The monthly chart was posted over the weekend. The H1 chart shows a very nice BO.
Attached Image(s) (click to enlarge)
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  • #6,109
  • Dec 1, 2010 7:33am Dec 1, 2010 7:33am
Hope some of you caught this BO going down. Now looks like there will be a BO going up.
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  • #6,110
  • Edited 7:48am Dec 1, 2010 7:34am | Edited 7:48am
LawGirl
Here is EA that i have wrote. It marks automatically 3 taps with set tolerance. It doesn't open any trades. Maybe you will find it useful.
Here is short description.
It searches for two earlier candles for current candle that will create three tap with current one. Search is done in defined number of candles 30 at default and is done from current backward.
Same time both search for uptrend and downtrend is performed. If three tap is found and both Daily and weekly RSIs are in agreement with trend line, except marking alarm notification is sent.
It works for H1, H4, Daily, Weekly and Monthly candles. For smaller time frames it is suspended.
If you have any questions please ask.
Attached File(s)
File Type: ex4 Third Tap Marker.ex4   8 KB | 1,025 downloads
  • #6,111
  • Dec 1, 2010 7:40am Dec 1, 2010 7:40am
This pair wasn't on my radar. But a beautiful BO.
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  • #6,112
  • Dec 1, 2010 7:42am Dec 1, 2010 7:42am
I think as we get closer to Xmas and the volume thins out you will see a lot more markets going against your best judgments . I personally don't trade live from DEC 1 until after New years ( bit extreme but works well for me). I Just trade a demo account until Then. Pulled the plug on the E/U 3 tap monthly yesterday for 921 pips.
Quoting lawgirl21
At least this pair is doing what it "supposed" to do. The monthly chart was posted over the weekend. The H1 chart shows a very nice BO.
Always Learning
  • #6,113
  • Dec 1, 2010 7:47am Dec 1, 2010 7:47am
Quoting lawgirl21
Hope some of you caught this BO going down. Now looks like there will be a BO going up.
Yes. I caught its down move, but profit is gone now. How would you have managed this trade to protect profit?
  • #6,114
  • Dec 1, 2010 7:50am Dec 1, 2010 7:50am
Quoting JayTrader
I think as we get closer to Xmas and the volume thins out you will see a lot more markets going against your best judgments . I personally don't trade live from DEC 1 until after New years ( bit extreme but works well for me). I Just trade a demo account until Then. Pulled the plug on the E/U 3 tap monthly yesterday for 921 pips.
That's great! Can't complain about anything else with that kind of profit. I did the same thing with about 700 pips. Also EURGBP which I have been in and out of for the past few weeks. Directions are changing, which can be expected...we just have to change with them.

I don't see any reason to stop trading during this time, but of course, if that's what works out well for you, that's what you should do.
  • #6,115
  • Dec 1, 2010 7:51am Dec 1, 2010 7:51am
Quoting lawgirl21
This pair wasn't on my radar. But a beautiful BO.
Hi Lawgirl, I have been watching this pair the last 7 hours. At no point did the three RSI's indicate that we should enter until right at the bottom of the move, which I'm guessing is too late to enter. Please tell me if I'm doing something wrong here? Keep up the good work.
Thanks.
  • #6,116
  • Dec 1, 2010 7:56am Dec 1, 2010 7:56am
Market on steroid. I think I'm done for such a Wednesday. Banked +29 pips from 7 trades. I need some cold beverage and a good sleep.

PC2
Mystery Is The Final Product Of Ignorance. Hey! What's ma chart doin'
  • #6,117
  • Dec 1, 2010 7:58am Dec 1, 2010 7:58am
Quoting Shearer9
Hi Lawgirl, I have been watching this pair the last 7 hours. At no point did the three RSI's indicate that we should enter until right at the bottom of the move, which I'm guessing is too late to enter. Please tell me if I'm doing something wrong here? Keep up the good work.
Thanks.
BOs are pure price action trades. Of course the RSIs will eventually follow the PA, but we look at PA breaking above/below the R/S lines for these trades.
  • #6,118
  • Dec 1, 2010 7:59am Dec 1, 2010 7:59am
Quoting lawgirl21
This pair wasn't on my radar. But a beautiful BO.
Iīm in. Bit late, so small gain at the moment. It is fighting with the support zone reaching from 0185 to 0165. If that one breaks, there could be a nice move to 0125 and 0085.

Letīs see
  • #6,119
  • Dec 1, 2010 8:00am Dec 1, 2010 8:00am
Quoting Precap2
Market on steroid. I think I'm done for such a Wednesday. Banked +29 pips from 7 trades. I need some cold beverage and a good sleep.

PC2
It was a tough overnight for me too. Get your beauty sleep..
  • #6,120
  • Dec 1, 2010 8:02am Dec 1, 2010 8:02am
Quoting Shearer9
Hi Lawgirl, I have been watching this pair the last 7 hours. At no point did the three RSI's indicate that we should enter until right at the bottom of the move, which I'm guessing is too late to enter. Please tell me if I'm doing something wrong here? Keep up the good work.
Thanks.
The market needs to have a readme file attached to it.
If your RSI refuse to agree, then you should know your risk is great. Don't trade it.
Mystery Is The Final Product Of Ignorance. Hey! What's ma chart doin'
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