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Trade What You See - Almost Naked Trading

  • #6,661
  • Dec 9, 2010 3:46am Dec 9, 2010 3:46am
hi there folks and LG,

being following the system the whole week and this my report card so far


Total lost ~ 100+ pips
Total gain ~ 160+ pips

of the 100+ lost about 80 or so was the first 2 days. i gave myself the excuse of im figuring it out
most of my gains came about on wed and thurs after i sort of understand whats happening.
but cuz im new to forex, my gains where limited to usually half of what the "wave" would result.
  • #6,662
  • Dec 9, 2010 3:53am Dec 9, 2010 3:53am
Hi again,

A Newb question if you guys dont mind

alot is written about entry signs(am getting the hang of it) but how bout exits? and the duration of each entry?

For winning trades:
as mentioned here its relative to S & R but what tf S & R should i pay attention more?

For losing trades:
How long should i hold before giving up? is it base on a time discretion or is it if i spot a change of direction + after certain time period.


I am currently using a S&R indicator cuz i am not very confident in determing my own and its pretty accurate. i stay out of BOs and signals thats close to what it indicates and its pretty precise.

I understand exits is relative to experience and how strong the stomach is but it would be most helpful if theres a general direction you folks can point me to so i can better figure out.

thanks for all the help
  • #6,663
  • Dec 9, 2010 6:35am Dec 9, 2010 6:35am
Quoting nnk8968
Dear Brother,
I like your time indicator on the top right corner of your chart. Where can i download the same? Thanks
Here you go.
Attached File(s)
File Type: mq4 Clock_v1_3.mq4   8 KB | 457 downloads
  • #6,664
  • Edited 7:01am Dec 9, 2010 6:49am | Edited 7:01am
there is a 3tap for a short on this pair what do u think guys. this indicator has a signal as well. sorry disregard that

Bay
Bay The earth is the Lord's and the fullness thereoff.
  • #6,665
  • Dec 9, 2010 6:56am Dec 9, 2010 6:56am
Quoting bayana2020
there is a 3tap for a short on this pair what do u think guys. this indicator has a signal as well.

Bay
Can u put up a chart pls so we can see where your lines are? I am not seeing a 3tap short on cable
  • #6,666
  • Dec 9, 2010 7:00am Dec 9, 2010 7:00am
Scanning for BO'S
Attached Image (click to enlarge)
Click to Enlarge Name: all.jpg Size: 264 KB
  • #6,667
  • Dec 9, 2010 7:02am Dec 9, 2010 7:02am
that's a mistake i was looking at 1hour chart

Quoting bayana2020
there is a 3tap for a short on this pair what do u think guys. this indicator has a signal as well. sorry disregard that

Bay
Bay The earth is the Lord's and the fullness thereoff.
  • #6,668
  • Dec 9, 2010 7:02am Dec 9, 2010 7:02am
Bay, this is my H4. Only a 2tap and RSI needs a lot of work, but for a long.

EDIT: just read your correction
Attached Image (click to enlarge)
Click to Enlarge Name: GU_H4_2tap.png Size: 47 KB
  • #6,669
  • Dec 9, 2010 7:12am Dec 9, 2010 7:12am
Nice 4H ditch... Watching for a pop on the bottomside...
Attached Image (click to enlarge)
Click to Enlarge Name: eurcad.gif Size: 10 KB
  • #6,670
  • Dec 9, 2010 7:17am Dec 9, 2010 7:17am
3tap setup, waiting for H4 and trigger... Maybe 830am with the news...
Attached Image
  • #6,671
  • Dec 9, 2010 7:20am Dec 9, 2010 7:20am
is that a potential trade guys
Bay
Attached Image (click to enlarge)
Click to Enlarge Name: NZD.png Size: 125 KB
Bay The earth is the Lord's and the fullness thereoff.
  • #6,672
  • Dec 9, 2010 7:36am Dec 9, 2010 7:36am
Only going for 10 pips cause resistance was so close. I've been trying to be realistic about TPs, even if it sometimes means not so good R:R. This was a 3-tap on the H4, but I posted the H1 chart.

Attached Image


EDIT: hit target +10 pips...that was a quickie!
"Be the change that you wish to see in the world." --Gandhi
  • #6,673
  • Dec 9, 2010 7:56am Dec 9, 2010 7:56am
Quoting Wally1953
Only going for 10 pips cause resistance was so close. I've been trying to be realistic about TPs, even if it sometimes means not so good R:R. This was a 3-tap on the H4, but I posted the H1 chart.

Attachment

EDIT: hit target +10 pips...that was a quickie!
Good Wally, take profit when you can. This has been a hard market for pips the last couple of days.
  • #6,674
  • Dec 9, 2010 7:59am Dec 9, 2010 7:59am
Quoting lawgirl21
Good Wally, take profit when you can. This has been a hard market for pips the last couple of days.
I couldn't agree more. I have been strugling with some losses that went to profit, I didn't want them to close because they could cath up and give me more profit, all of them are now back in the min, so, next time, close when possible, prevent worse and make new pips on new trades.
  • #6,675
  • Dec 9, 2010 8:02am Dec 9, 2010 8:02am
Quoting pippete
Nice 4H ditch... Watching for a pop on the bottomside...
Looks pretty much the same.
Attached Image (click to enlarge)
Click to Enlarge Name: 4xxx.gif Size: 13 KB
  • #6,676
  • Dec 9, 2010 8:05am Dec 9, 2010 8:05am
Quoting lawgirl21
Good Wally, take profit when you can. This has been a hard market for pips the last couple of days.
Agree, apart from Sun gap trade every pip I have gained this week has been hard won. Might be time for demo only til 2011
  • #6,677
  • Dec 9, 2010 8:11am Dec 9, 2010 8:11am
Quoting lawgirl21
Looks pretty much the same.
Here is another perspective:
Attached Image
  • #6,678
  • Dec 9, 2010 8:13am Dec 9, 2010 8:13am
3 Tap setup and trigger, BUT PA is stalled in a ditch on H1
Attached Image (click to enlarge)
Click to Enlarge Name: 4xxx.gif Size: 13 KB
  • #6,679
  • Dec 9, 2010 8:14am Dec 9, 2010 8:14am
Quoting Ph22
Agree, apart from Sun gap trade every pip I have gained this week has been hard won. Might be time for demo only til 2011
I'm wondering too Ph, if it is going to be this way until January...I know in the US, if what's called Bush's tax cuts are not extended, there is going to be a stock sell off the likes of which we have never seen. Don't know what that would do for this market.
  • #6,680
  • Dec 9, 2010 8:19am Dec 9, 2010 8:19am
BUT PA is also stalled on H1
Attached Image (click to enlarge)
Click to Enlarge Name: EURGBP.GIF Size: 45 KB
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