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Trade What You See - Almost Naked Trading

  • #7,881
  • Dec 29, 2010 8:44am Dec 29, 2010 8:44am
Quoting JGforex7780
Hi Lawgirl,

I have some question: How do you set up the pending order?? you judge based on the last 3 or 4 candles and set about 15-20pips away??
I wanted to clear that purple support line at 82.27, marked with blue arrow. So I set my order at 82.15, 12 pips lower. That was completely arbitrary...could have been 15 or 20 for a more conservative entry.
  • #7,882
  • Dec 29, 2010 8:45am Dec 29, 2010 8:45am
chart
Attached Image
  • #7,883
  • Dec 29, 2010 8:51am Dec 29, 2010 8:51am
Quoting geula4
Congratulations! Great Job!!
I'm sorry to say I didn't get in all those trades..only some of them. I was just trying to show that one pair is really all that a serious trader needs to bring in good extra income or even make a living.
  • #7,884
  • Dec 29, 2010 9:04am Dec 29, 2010 9:04am
Quoting lawgirl21
chart
Hmm , think i got what you mean..

I am looking at the EUR/USD for the whole afternoon (Asia time). its been lingering around between 1.3144 and 1.3115. thinking to set a pending trade... Wondering how to do it.
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD291210.jpg Size: 167 KB
  • #7,885
  • Dec 29, 2010 9:20am Dec 29, 2010 9:20am
Quoting JGforex7780
Hmm , think i got what you mean..

I am looking at the EUR/USD for the whole afternoon (Asia time). its been lingering around between 1.3144 and 1.3115. thinking to set a pending trade... Wondering how to do it.
You want the trade to clear your upper blue line (resistence line). So set it 10-15 pips above that line.

Looks like your resistence line is at 1. 3144. I would set the pending trade at the 3160 level for a conservative trade.
  • #7,886
  • Dec 29, 2010 9:20am Dec 29, 2010 9:20am
IMHO, stubborn resistance at 81.90 bounced price up to 82.00 area.
Therefore, I think i'll move TP up to 81.90 area.

Just an idea. Please trade at your own judgment and trade safe!
  • #7,887
  • Dec 29, 2010 9:28am Dec 29, 2010 9:28am
Quoting geula4
IMHO, stubborn resistance at 81.90 bounced price up to 82.00 area.
Therefore, I think i'll move TP up to 81.90 area.

Just an idea. Please trade at your own judgment and trade safe!

thanks for the headsup.
81.9 seems a reasonable TP to clear for this pair
  • #7,888
  • Dec 29, 2010 9:30am Dec 29, 2010 9:30am
Quoting lawgirl21
You want the trade to clear your upper blue line (resistence line). So set it 10-15 pips above that line.

Looks like your resistence line is at 1. 3144. I would set the pending trade at the 3160 level for a conservative trade.
Thanks for the guidance. Will take monitor before taking any action.
  • #7,889
  • Dec 29, 2010 9:31am Dec 29, 2010 9:31am
Quoting kedridder
thanks for the headsup.
81.9 seems a reasonable TP to clear for this pair
My pleasure, kedridder!
Glad you agree with this reasoning
  • #7,890
  • Dec 29, 2010 9:41am Dec 29, 2010 9:41am
An important point worth mentioning IMHO:
I prefer to move my SL to BE or BE+ when I'm in profit, like at this point of the trade (if not earlier).

IMHO, no reason to let a good trade like this one to become a loss...
  • #7,891
  • Dec 29, 2010 9:42am Dec 29, 2010 9:42am
Out with 18 pips.
  • #7,892
  • Dec 29, 2010 9:45am Dec 29, 2010 9:45am
Quoting lawgirl21
Did BO for about 30 pips. Is stalling now, but may continue up.
Is continuing up after the stall out...
Attached Image
  • #7,893
  • Dec 29, 2010 9:49am Dec 29, 2010 9:49am
I'm not liking PA on the M15 chart right now or the H1 and H4 RSIs. But if they start acting well (meaning heading down), I will enter a trade short.
Attached Image
  • #7,894
  • Dec 29, 2010 9:53am Dec 29, 2010 9:53am
Quoting lawgirl21
Out with 18 pips.
I'm out too at around 82.00 area.

Perhaps price will go down some more pips. However, IMHO when we see PA starting to go up-down up-down like this,
we should take whatever pips we can.

There will be many more profitable trades!
  • #7,895
  • Dec 29, 2010 9:56am Dec 29, 2010 9:56am
IMHO PA is acting strange today.
Not much movement and not in a clear direction.
Maybe because of Holidays...
  • #7,896
  • Dec 29, 2010 10:27am Dec 29, 2010 10:27am
Quoting geula4
IMHO PA is acting strange today.
Not much movement and not in a clear direction.
Maybe because of Holidays...
Yes, I don't think the market is worth our time today and until market open of next week. I think I will call it quits for the week/year.

Hope everyone has a wonderful and safe New Years celebration. I will be checking in from time to time between now and Sunday/Monday market open, but not looking for trades.

See everyone back and ready to make some money next year.
  • #7,897
  • Dec 29, 2010 10:28am Dec 29, 2010 10:28am
Quoting lawgirl21
Yes, I don't think the market is worth our time today and until market open of next week. I think I will call it quits for the week/year.

Hope everyone has a wonderful and safe New Years celebration. I will be checking in from time to time between now and Sunday/Monday market open, but not looking for trades.

See everyone back and ready to make some money next year.

have a good rest and see u back soon. happy 2011!
  • #7,898
  • Dec 29, 2010 10:35am Dec 29, 2010 10:35am
Quoting lawgirl21
Yes, I don't think the market is worth our time today and until market open of next week. I think I will call it quits for the week/year.

Hope everyone has a wonderful and safe New Years celebration. I will be checking in from time to time between now and Sunday/Monday market open, but not looking for trades.

See everyone back and ready to make some money next year.
Thank you for this great thread!
Looking forward to hearing from you soooon!
  • #7,899
  • Dec 29, 2010 10:46am Dec 29, 2010 10:46am
Quoting lawgirl21
Yes, I don't think the market is worth our time today and until market open of next week. I think I will call it quits for the week/year.

Hope everyone has a wonderful and safe New Years celebration. I will be checking in from time to time between now and Sunday/Monday market open, but not looking for trades.

See everyone back and ready to make some money next year.
Yes, LG, Happy New Year to you too.

Thanks very much for your commitment to all us traders.
"Be the change that you wish to see in the world." --Gandhi
  • #7,900
  • Dec 29, 2010 11:03am Dec 29, 2010 11:03am
Quoting lawgirl21
Yes, I don't think the market is worth our time today and until market open of next week. I think I will call it quits for the week/year.

Hope everyone has a wonderful and safe New Years celebration. I will be checking in from time to time between now and Sunday/Monday market open, but not looking for trades.

See everyone back and ready to make some money next year.
Yes, I thought that too... I just got 26 pips out of EURUSD long
Happy new year 2011 to all and esspecially to you Mrs Lawgirl
There`s no life before COFFEE!
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