Trade What You See - Almost Naked Trading | Page 391 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Looking on a naked chart, can you pick the best strategy? 32 replies

How do you see trading - Do you see it as a means to an end? 12 replies

Can you tell with naked eyes? 151 replies

Bow's trading journal 2 (almost naked trading on m5) 26 replies

Trading as naked as you can get 0 replies

Attachments: Trade What You See - Almost Naked Trading
Exit Attachments

Trade What You See - Almost Naked Trading

  • #7,801
  • Dec 28, 2010 8:52am Dec 28, 2010 8:52am
Quoting lawgirl21
Exactly right
Let's just hope that the Price also thinks that we're right...
  • #7,802
  • Dec 28, 2010 8:54am Dec 28, 2010 8:54am
Quoting lawgirl21
This pair was totally off my radar..good for about 90 pips.
Hi LG/geula4, the USDJPY picture which you have attached previously for the above quoted, in post #7786, is the ideal scenario. right?

lets say this EURUSD pair which opened today. the arrow pointing the BO, is not what we hope to see everyday because we need to execute our stop loss becos it's a false BO.

Is my understanding correct?
Attached Image (click to enlarge)
Click to Enlarge Name: eur.jpg Size: 91 KB
  • #7,803
  • Dec 28, 2010 8:55am Dec 28, 2010 8:55am
Sorry for this nooby qn, but i wanna check if I understand the ZC rite; it is PA following trend, retracing, and then making a big move back towards trend in the H1 TF. Is that right?

I have to know this becuz I just made 17 pips off LG's tip on GBP/CHF
  • #7,804
  • Dec 28, 2010 9:08am Dec 28, 2010 9:08am
Quoting kedridder
Hi LG/geula4, the USDJPY picture which you have attached previously for the above quoted, in post #7786, is the ideal scenario. right?

lets say this EURUSD pair which opened today. the arrow pointing the BO, is not what we hope to see everyday because we need to execute our stop loss becos it's a false BO.

Is my understanding correct?
We are looking for RSIs to show us the general trend direction and then look for a BO setup, for example.
I'm not sure if the EURUSD RSIs were pointing up at the time.

Also, it's a good idea to get confirmation from a few 15M candles before entry.
Again, I cannot know from the chart you posted what the situation was in 15M timeframe.

Please read the first post of this thread about the 4C 1H BO.
  • #7,805
  • Dec 28, 2010 9:14am Dec 28, 2010 9:14am
Quoting kedridder
Hi LG/geula4, the USDJPY picture which you have attached previously for the above quoted, in post #7786, is the ideal scenario. right?

lets say this EURUSD pair which opened today. the arrow pointing the BO, is not what we hope to see everyday because we need to execute our stop loss becos it's a false BO.

Is my understanding correct?
You are correct..that USDJPY BO picture could be the poster child/chart for BOs in this system.

Your EURUSD arrow did not point to a BO, only a wick/tail poking through. We want to see a multiple candle BO, at the very least on the M15 chart and on the H1 chart, we want to see the candle body breaking. Watching for entry on the M15 chart would have kept you from entering that trade, so there would have been no need to set a SL. Remember that we have time to observe PA on most good BOs. There is no need to jump into a trade at the first hint of a BO.

You will notice on your chart that a long BO did occur a few candles after your arrow. It was good for about 30 pips, but there was an immediate reversal on the subsequent candle which produced a very nice short trade.
  • #7,806
  • Dec 28, 2010 9:17am Dec 28, 2010 9:17am
Quoting natnimrey
Sorry for this nooby qn, but i wanna check if I understand the ZC rite; it is PA following trend, retracing, and then making a big move back towards trend in the H1 TF. Is that right?

I have to know this becuz I just made 17 pips off LG's tip on GBP/CHF
IMHO we are looking for a BO --> Pullback --> Continuation.
Please look at post
http://www.forexfactory.com/showpost...postcount=7029
  • #7,807
  • Dec 28, 2010 9:17am Dec 28, 2010 9:17am
hey law, thanks for your posts, very informative.
  • #7,808
  • Dec 28, 2010 9:18am Dec 28, 2010 9:18am
Quoting geula4
We are looking for RSIs to show us the general trend direction and then look for a BO setup, for example.
I'm not sure if the EURUSD RSIs were pointing up at the time.

Also, it's a good idea to get confirmation from a few 15M candles before entry.
Again, I cannot know from the chart you posted what the situation was in 15M timeframe.

Please read the first post of this thread about the 4C 1H BO.
yup, you're right. RSIs will provide more clue to the picture i posted.
i read the 1st post on 4C 1H BO, but i can only ask more questions to clear my doubts because there are many many scenarios.
  • #7,809
  • Dec 28, 2010 9:19am Dec 28, 2010 9:19am
Quoting kedridder
yup, you're right. RSIs will provide more clue to the picture i posted.
i read the 1st post on 4C 1H BO, but i can only ask more questions to clear my doubts because there are many many scenarios.
Just trying to help.
No offense meant...

Ask whatever you want.
We are all learning here from LG, including me.
  • #7,810
  • Dec 28, 2010 9:25am Dec 28, 2010 9:25am
Quoting lawgirl21
You are correct..that USDJPY BO picture could be the poster child/chart for BOs in this system.

Your EURUSD arrow did not point to a BO, only a wick/tail poking through. We want to see a multiple candle BO, at the very least on the M15 chart and on the H1 chart, we want to see the candle body breaking. Watching for entry on the M15 chart would have kept you from entering that trade, so there would have been no need to set a SL. Remember that we have time to observe PA on most good BOs. There is no need to jump into a trade at the first hint of...


i see. thanks for the input. i'm asking, becos i see your system suits me v well and i love it. every system has its pros and cons, so i wana understand how to maximise this system.

if i may move my arrow further, i could see a full candle forming on the 1H TF.
is this considered a false BO which all of us do not hope to see/execute?
Attached Image (click to enlarge)
Click to Enlarge Name: eur.jpg Size: 89 KB
  • #7,811
  • Dec 28, 2010 9:27am Dec 28, 2010 9:27am
Quoting geula4
Just trying to help.
No offense meant...

Ask whatever you want.
We are all learning here from LG, including me.
no worries, we're all here for an objective. to make PIPs.
i appreciate your help so far and i hope 1 day i can be like you. helping other users and have LG to verify the answer.

this way, you will learn real fast! much more faster than being just a passenger here. no hard feelings and i look forward to hearing from you again for my future posts.
  • #7,812
  • Dec 28, 2010 9:31am Dec 28, 2010 9:31am
Quoting kedridder
no worries, we're all here for an objective. to make PIPs.
i appreciate your help so far and i hope 1 day i can be like you. helping other users and have LG to verify the answer.

this way, you will learn real fast! much more faster than being just a passenger here. no hard feelings and i look forward to hearing from you again for my future posts.
Thank you for your kind words....
  • #7,813
  • Dec 28, 2010 9:31am Dec 28, 2010 9:31am
Quoting kedridder
i see. thanks for the input. i'm asking, becos i see your system suits me v well and i love it. every system has its pros and cons, so i wana understand how to maximise this system.

if i may move my arrow further, i could see a full candle forming on the 1H TF.
is this considered a false BO which all of us do not hope to see/execute?

Yes, that is the BO candle I was referring to that was followed immediatly by a reversal. The M15 chart would have probably gotten you in that trade and if you had set a TP at 20-30 pips, you would probably have been OK. But setting if for more than that would have seen the reversal and probably a SL hit.

However, had you been watching the trade and not sleeping, like I was during that set up, you would have exited on the reversal candle, watched PA and RSIs and entered short somewhere within the channel and on through the support level for a terrific profitable trade.
  • #7,814
  • Dec 28, 2010 9:36am Dec 28, 2010 9:36am
Quoting lawgirl21
Yes, that is the BO candle I was referring to that was followed immediatly by a reversal. The M15 chart would have probably gotten you in that trade and if you had set a TF at 20-30 pips, you would probably have been OK. But setting if for more than that would have seen the reversal and probably a SL hit.

However, had you been watching the trade and not sleeping, like I was during that set up, you would have exited on the reversal candle, watched PA and RSIs and entered short somewhere within the channel and on through the support level...

thank you LG! there's no telling how grateful i am to this answer. i'll be very mindful of this lesson on e reversal candle, PA and RSIs.

its not been a good day of trade today for me and i appreciate both LG and geula4's help so far. i'm sure tomorrow will be a better day.
  • #7,815
  • Dec 28, 2010 9:52am Dec 28, 2010 9:52am
I Hope 1.4600-1.4610 resistance breaks down soon...
Let's see what happens...
  • #7,816
  • Dec 28, 2010 9:59am Dec 28, 2010 9:59am
Quoting geula4
IMHO we are looking for a BO --> Pullback --> Continuation.
Please look at post
http://www.forexfactory.com/showpost...postcount=7029
Once again thanks geula...annoying I know, but tats all I can say Also thanks to LG and kedridder...ked, your questions helped me clarify stuff I didn't know I didn't know, and your relentless asking have made these past two pages very informative. Cheers to that, bro
  • #7,817
  • Dec 28, 2010 10:04am Dec 28, 2010 10:04am
Quoting natnimrey
Once again thanks geula...annoying I know, but tats all I can say Also thanks to LG and kedridder...ked, your questions helped me clarify stuff I didn't know I didn't know, and your relentless asking have made these past two pages very informative. Cheers to that, bro
  • #7,818
  • Dec 28, 2010 10:08am Dec 28, 2010 10:08am
Quoting geula4
I Hope 1.4600-1.4610 resistance breaks down soon...
Let's see what happens...
GBPCHF
It's being very stubborn, isn't it..
  • #7,819
  • Dec 28, 2010 10:10am Dec 28, 2010 10:10am
Quoting natnimrey
Once again thanks geula...annoying I know, but tats all I can say Also thanks to LG and kedridder...ked, your questions helped me clarify stuff I didn't know I didn't know, and your relentless asking have made these past two pages very informative. Cheers to that, bro

i'm glad my questions and LG/geula4's answer helped us. their efforts did not go to waste and very useful for us. lets work together in this long route in forex.
  • #7,820
  • Dec 28, 2010 10:13am Dec 28, 2010 10:13am
Quoting lawgirl21
GBPCHF
It's being very stubborn, isn't it..
yep.

Also, the situation in EURGBP isn't very encouraging..
Just bounced off 0.8530...
14 traders viewing now