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Trade What You See - Almost Naked Trading

  • #7,161
  • Dec 16, 2010 9:07am Dec 16, 2010 9:07am
Quoting lawgirl21
Tight trading on H1 and H4 charts.
Hi LG,

Are we looking for a BO in a specific (UP or DOWN) direction, or any direction?

I'm asking this because I see that the overall trend seems to be down, while RSI seems biased upwards.

Sorry if this is an obvious question... just trying to learn here...

Thank you!
  • #7,162
  • Dec 16, 2010 9:08am Dec 16, 2010 9:08am
GBP and EUR are breaking down on a BO against the USD (due to Philly fed numbers I suppose)
  • #7,163
  • Dec 16, 2010 9:13am Dec 16, 2010 9:13am
Quoting geula4
Hi LG,

Are we looking for a BO in a specific (UP or DOWN) direction, or any direction?

I'm asking this because I see that the overall trend seems to be down, while RSI seems biased upwards.

Sorry if this is an obvious question... just trying to learn here...

Thank you!
While you are waiting for her reply, I will say my word. The most secure signal is when we have RSI and BO in one direction, same goes for 3tap rule.
  • #7,164
  • Dec 16, 2010 9:15am Dec 16, 2010 9:15am
Quoting geula4
Hi LG,

Are we looking for a BO in a specific (UP or DOWN) direction, or any direction?

I'm asking this because I see that the overall trend seems to be down, while RSI seems biased upwards.

Sorry if this is an obvious question... just trying to learn here...

Thank you!
No, we are not looking at a specific direction in a consolidation..we are following RSIs which follow PA. But we have no directional bias when we look at these set ups. Check EURUSD now and see which direction it is breaking in.

Update: I might add that at this time in the trading week, there is a very strong directional bias toward the weekly RSI direction. On EURUSD though it is neutral. On USDCAD the weekly directional bias is short. I personally will almost never trade against the direction of the weekly RSI this far into the trading week, UNLESS I am intentionally placing a countertrend trade.
  • #7,165
  • Dec 16, 2010 9:15am Dec 16, 2010 9:15am
Quoting antonix
While you are waiting for her reply, I will say my word. The most secure signal is when we have RSI and BO in one direction, same goes for 3tap rule.
Thank you, Antonix!
  • #7,166
  • Dec 16, 2010 9:16am Dec 16, 2010 9:16am
BO on eurusd..+22pips
  • #7,167
  • Dec 16, 2010 9:17am Dec 16, 2010 9:17am
Quoting lawgirl21
No, we are not looking at a specific direction in a consolidation..following RSIs which follow PA. But we have no directional bias when we look at these set ups. Check EURUSD now and see which direction it is breaking in.
Thank you... got it!
  • #7,168
  • Dec 16, 2010 9:23am Dec 16, 2010 9:23am
Quoting lawgirl21
Always know which stage you are in!

1. Losing - because of one, or a combination of poor money management, lack of discipline, insisting on reaching that TP no matter what, poor set up and entry strategy, poor exit strategy, letting a winning trade turn into a losing trade, "knowing" what the market will do. Ego;

2. Making pips, then losing them - reaching a daily/ weekly goal, then continuing to trade believing you "know" what the market is going to do, the "just one more trade" syndrome, just a few more pips. Ego;

3....
In Live Acc still in step 1... strugle to next Step
In Demo Acc in step 2 can't go further to step4 offcourse (Withdrawing) Step 3 the target.
Keep Learning and Mastering this Almost Naked (LG sYstem)... Yes We Can Do it Guys !
  • #7,169
  • Dec 16, 2010 9:30am Dec 16, 2010 9:30am
3 tap and a breakout?
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  • #7,170
  • Dec 16, 2010 9:31am Dec 16, 2010 9:31am
Hi LG This BO-PullBack-Continuatian (ZC) on EURUSD chart
Correct?
Attached Image (click to enlarge)
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  • #7,171
  • Dec 16, 2010 9:40am Dec 16, 2010 9:40am
Quoting lawgirl21
Always know which stage you are in!

1. Losing - because of one, or a combination of poor money management, lack of discipline, insisting on reaching that TP no matter what, poor set up and entry strategy, poor exit strategy, letting a winning trade turn into a losing trade, "knowing" what the market will do. Ego;

2. Making pips, then losing them - reaching a daily/ weekly goal, then continuing to trade believing you "know" what the market is going to do, the "just one more trade" syndrome, just a few more pips. Ego;

3....

Hi Lawgirl,

I been following this thread since it started, and i go to say its the most rewarding thread I have ever followed.
I started this thread losing half of my account. Keep losing as I could not figure out how to enter the trade. Got angry and went for revenge trading. (Stage 1)
Now about 2 months following the thread, I had recovered my account and now getting pips with almost 80% accuracy!!!. I must say I am still trying to stay out after reaching my goal for the week. But sometime its diffcult seeing BOs and 3taps forming.
I believe I am in stage 2 now. Still trying to move to stage 3. Someone in the thread suggest to switching to demo or micro accounts. I will probably do so in Jan11.
A big thank you for creating this thread.
  • #7,172
  • Dec 16, 2010 9:41am Dec 16, 2010 9:41am
Quoting Triple Kiss
Hi LG This BO-PullBack-Continuatian (ZC) on EURUSD chart
Correct?
You got it!
  • #7,173
  • Dec 16, 2010 9:42am Dec 16, 2010 9:42am
EUR/USD seems to be breaking on H4 and H1. But there also seems to be a good support at 1.3170 area. Will post chart later.
Mystery Is The Final Product Of Ignorance. Hey! What's ma chart doin'
  • #7,174
  • Dec 16, 2010 9:42am Dec 16, 2010 9:42am
Quoting floppynuts
3 tap and a breakout?
Simple suggestion: LG's system works off RSI (3)
  • #7,175
  • Dec 16, 2010 9:47am Dec 16, 2010 9:47am
Quoting JGforex7780
Hi Lawgirl,

I been following this thread since it started, and i go to say its the most rewarding thread I have ever followed.
I started this thread losing half of my account. Keep losing as I could not figure out how to enter the trade. Got angry and went for revenge trading. (Stage 1)
Now about 2 months following the thread, I had recovered my account and now getting pips with almost 80% accuracy!!!. I must say I am still trying to stay out after reaching my goal for the week. But sometime its diffcult seeing BOs and 3taps forming.
I believe...
I love success stories! Hearing this makes my day, truly.

Switching to demo or micro is a good idea. Another idea is increasing your goal by 10-20 %. That is what I probably am going to do in the new year.
  • #7,176
  • Dec 16, 2010 9:53am Dec 16, 2010 9:53am
Zorro Continuation (ZC)
I Got it.
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  • #7,177
  • Dec 16, 2010 9:53am Dec 16, 2010 9:53am
Quoting lawgirl21
I love success stories! Hearing this makes my day, truly.

Switching to demo or micro is a good idea. Another idea is increasing your goal by 10-20 %. That is what I probably am going to do in the new year.

its nice to hear you're giving all of us good + positive encouragement here selflessly. ideas are constructive too. thank you and you have good karma. comes along, good trades!
  • #7,178
  • Dec 16, 2010 9:58am Dec 16, 2010 9:58am
ZC trade, but right at big support level of 7350. If PA breaks that level, could continue down for 100 or so pips.
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  • #7,179
  • Dec 16, 2010 10:14am Dec 16, 2010 10:14am
Quoting lawgirl21
H4 3 Tap set up and trigger.
CHF/JPY moving up to 87.00
  • #7,180
  • Dec 16, 2010 10:32am Dec 16, 2010 10:32am
good evening from spain...
Lg...can I introduce some "extra" elements of price action in your set ups.
I am thinking in outside bars and pinbars. They´re very powerfull to set entry points. In this example EURGBP we have a very powerfull bearish outside bar. I took it as my entry point. We have it in 1H and 4H. Tell me your opinion please.
Thanks and happy trading.
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