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Trade What You See - Almost Naked Trading

  • #6,401
  • Dec 6, 2010 4:23am Dec 6, 2010 4:23am
Already had BO Trades on these two pairs today for +30. Currently +30 on these 3T trades.
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  • #6,402
  • Dec 6, 2010 4:37am Dec 6, 2010 4:37am
i hope you are watching this breakout - will post chart soon, sorry.
  • #6,403
  • Dec 6, 2010 4:41am Dec 6, 2010 4:41am
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  • #6,404
  • Edited 5:08am Dec 6, 2010 4:57am | Edited 5:08am
Hi LG
Great thread , great stuff , great people.
I took 4 trades :
eurjpy +30 , eurusd +25 , eurchf +23
audjpy -24 (my fault)
For a total of +54 pips.
Some questions :
1. Do you enter as immediately as market opens ?
2. Is your target 100% of the gap size (Friday's close) ?
I have seen some traders target for example 75% of the gap.
3. I set as SL the same size of my target , so I get a RR of 1:1 , hoping they are high probability trades.
What's your SL policy for gap setups ?
4. As you follow 20 pairs , do you look , as market opens ,
at the ratio gap size/spread to decide which pairs are in priority for possible trades ?
5. Do you have a minimum gap size for considering a trade ? ( like 25-30 pips)
Tks
David
  • #6,405
  • Dec 6, 2010 5:06am Dec 6, 2010 5:06am
EURJPY H1 BO
closed the trade for +36 p as saw that price was not
able , atm , to hold bellow 110.00 , that was a major
support level last week.
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  • #6,406
  • Dec 6, 2010 5:10am Dec 6, 2010 5:10am
wats the furthest point away from the 3rd tap (in pips) where you could still get in. very often i always see the signal when its moved 20pips away then i think its too late.
Bay
Bay The earth is the Lord's and the fullness thereoff.
  • #6,407
  • Dec 6, 2010 5:16am Dec 6, 2010 5:16am
Here to pick the crumbs that you guys left behind over the night.
Goodmorning Gentlemen and Babes.

Hope the pips have been coming in. Looks like a pippy day already
Mystery Is The Final Product Of Ignorance. Hey! What's ma chart doin'
  • #6,408
  • Dec 6, 2010 5:21am Dec 6, 2010 5:21am
3 tap on GBP/JPY however D1 RSI pointing down i suppose thats not a trade
Bay
Bay The earth is the Lord's and the fullness thereoff.
  • #6,409
  • Dec 6, 2010 5:29am Dec 6, 2010 5:29am
M15 or M30 I use M30
Quoting yosih36
HI LG

Thanks for sharing

Could you tell me which TF you use for the GAPS ?

sorry for my English
Always Learning
  • #6,410
  • Dec 6, 2010 5:35am Dec 6, 2010 5:35am
Wow ! Good day so far, I'm up +100 pips and my GU 3T trade is still going, standing at +37 pips so far.
  • #6,411
  • Dec 6, 2010 5:39am Dec 6, 2010 5:39am
No not yet. You want to wait on the price momentum (RSI's) to be going in your direction. Time to sit on your hands . I have learned that jumping the gun will punish you more times than reward you
Quoting bayana2020
3 tap on GBP/JPY however D1 RSI pointing down i suppose thats not a trade
Bay
Always Learning
  • #6,412
  • Dec 6, 2010 5:47am Dec 6, 2010 5:47am
thanks @jay

Quoting JayTrader
No not yet. You want to wait on the price momentum (RSI's) to be going in your direction. Time to sit on your hands . I have learned that jumping the gun will punish you more times than reward you
Bay The earth is the Lord's and the fullness thereoff.
  • #6,413
  • Dec 6, 2010 5:53am Dec 6, 2010 5:53am
USDJPY 3 Tap
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Always Learning
  • #6,414
  • Dec 6, 2010 5:53am Dec 6, 2010 5:53am
Quoting JayTrader
No not yet. You want to wait on the price momentum (RSI's) to be going in your direction. Time to sit on your hands . I have learned that jumping the gun will punish you more times than reward you
If sitting on your hands (as Jay suggested) becomes so painful either on your hands or butt, take a walk and pretend to be going to see an imaginary girl friend (if you're M) or the other way around if you're F.

Have peace

PC2
Mystery Is The Final Product Of Ignorance. Hey! What's ma chart doin'
  • #6,415
  • Dec 6, 2010 5:59am Dec 6, 2010 5:59am
Quoting JayTrader
USDJPY 3 Tap
Attachment
It might be necessary to see UJ above 83.00 before considering long, or below 82.50 before looking for short. I think it's badly trapped.
Attached Image (click to enlarge)
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Mystery Is The Final Product Of Ignorance. Hey! What's ma chart doin'
  • #6,416
  • Dec 6, 2010 6:04am Dec 6, 2010 6:04am
I am waiting on this one to prove itself before entry, price seem capped at the moment. There are a few nice 3 taps but things are not 100% lined up yet
Quoting Precap2
It might be necessary to see UJ above 83.00 before considering long, or below 82.50 before looking for short. I think it's badly trapped.
Always Learning
  • #6,417
  • Dec 6, 2010 6:20am Dec 6, 2010 6:20am
Quoting JayTrader
I am waiting on this one to prove itself before entry, price seem capped at the moment. There are a few nice 3 taps but things are not 100% lined up yet
Very good. Mondays are known for such ugly habit, tho today is printing money already.

PC2
Mystery Is The Final Product Of Ignorance. Hey! What's ma chart doin'
  • #6,418
  • Dec 6, 2010 6:26am Dec 6, 2010 6:26am
Quoting simmo24
Wow ! Good day so far, I'm up +100 pips and my GU 3T trade is still going, standing at +37 pips so far.
Got stopped out at BE while I was at lunch. Oh well, I'm done for the day.
  • #6,419
  • Dec 6, 2010 6:33am Dec 6, 2010 6:33am
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"Be the change that you wish to see in the world." --Gandhi
  • #6,420
  • Dec 6, 2010 6:57am Dec 6, 2010 6:57am
Although I see the merits of the 3T and BO systems, my major problem remains that of not being able to ignore (my) predictive EW counts.

I tend to stick to GU - on the basis that I'd sooner be intimate with this pair's PA as opposed to looking at various pairs which tends to muddle my thoughts.

EW is like a drug, lol. Any suggestions how to step away from this psych?!
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