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Trade What You See - Almost Naked Trading

  • #8,001
  • Dec 30, 2010 9:59am Dec 30, 2010 9:59am
Quoting kedridder
congrads! within half hour, u gathered 28 PIPs.
my few hours of looking at e screen, turn from profit to loss. urghhhh

e difference between master and amateur
I'm sorry to hear that, KR. Have you analysed what happened?
  • #8,002
  • Dec 30, 2010 10:00am Dec 30, 2010 10:00am
Quoting lawgirl21
I would not look at it as a major move downward, rather as a retrace or pullback before continuing up.
Ok understand. I scale out a portion 25pips on the way down. still have some left SL at BE. lets see what happen.
  • #8,003
  • Dec 30, 2010 10:02am Dec 30, 2010 10:02am
Quoting JGforex7780
Ok understand. I scale out a portion 25pips on the way down. still have some left SL at BE. lets see what happen.
Watch the candle change closely.
  • #8,004
  • Dec 30, 2010 10:02am Dec 30, 2010 10:02am
Quoting lawgirl21
I'm sorry to hear that, KR. Have you analysed what happened?
like wat u said, e major resistance point. i will be more mindful of this in future and pick up all these battle experience.
  • #8,005
  • Dec 30, 2010 10:11am Dec 30, 2010 10:11am
Sold usd/chf, bought chf/jpy, both stops moved to break even, just gonna leave them to run and see where they go, up 50 pips altogether so far...
  • #8,006
  • Dec 30, 2010 10:11am Dec 30, 2010 10:11am
Quoting lawgirl21
Watch the candle change closely.
Well i out of the trade. PA not moving. Need to catch sleep. Cheers happy trading.
  • #8,007
  • Dec 30, 2010 10:21am Dec 30, 2010 10:21am
Quoting NaughtyPip
Sold usd/chf, bought chf/jpy, both stops moved to break even, just gonna leave them to run and see where they go, up 50 pips altogether so far...
Good trade management.
  • #8,008
  • Dec 30, 2010 10:22am Dec 30, 2010 10:22am
Quoting JGforex7780
Well i out of the trade. PA not moving. Need to catch sleep. Cheers happy trading.
It's probably wise to shut 'em down. Any open trades now are likely to stay open through the holiday.
  • #8,009
  • Dec 30, 2010 10:30am Dec 30, 2010 10:30am
Quoting lawgirl21
It's probably wise to shut 'em down. Any open trades now are likely to stay open through the holiday.

ouch! i was stopped out. it's bedtime, goodbye all
  • #8,010
  • Dec 30, 2010 11:18am Dec 30, 2010 11:18am
This is one thing that is happening to much lately to me.

I've entered the trade in the picture, all signals were as they should be as I remember. After entering the trade it should have gone up, but went down. I watched my profit shrink by the pip, but it did not hit my SL. After about a day the trade headed north again and I closed it as soon I had some profit, small, but profit. I was happy that my loss was gone and the "stress" was over.

All that said, here's the problem, I allow the trade to go in red until my SL, but I do not allow it to go into (much) profit, wich would have been a good thing today (and many previous cases).

I'm working on this issue, but I tend to close trades to quickly. My profits are to small versus my losses (wich I give much space).

So 2011 will be a lesson in "let the trade ride for a while" and give it some space to move up aswel as down!

I'll try setting up more trades in DEMO with higher profits and just let them ride. Closing a trade in profit is one thing, but have at least 15 pips profit is another :-).

For now, the year is over, time to have a party. The fist year of treading is over, the balance is slightly positief so i'm very happy. Thx to LG and many other for guiding me through the system, which I'm learning still day by day.

Merry X-mass to you all!!! Ho Ho Hoooo :-)
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  • #8,011
  • Dec 30, 2010 11:32am Dec 30, 2010 11:32am
Quoting KillerAntz
This is one thing that is happening to much lately to me.

I've entered the trade in the picture, all signals were as they should be as I remember. After entering the trade it should have gone up, but went down. I watched my profit shrink by the pip, but it did not hit my SL. After about a day the trade headed north again and I closed it as soon I had some profit, small, but profit. I was happy that my loss was gone and the "stress" was over.

All that said, here's the problem, I allow the trade to go in red until my SL, but I do not allow it...
KA, if you had widened your R/S lines and expended them out, you would have noticed that this pair was in consolidation for about 2 days. Then you would have looked for a better BO.. marked by the blue arrow on the chart below, that you referred to.
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  • #8,012
  • Dec 30, 2010 11:36am Dec 30, 2010 11:36am
Traders...when you see several days of H1 4C BO support/resistence lines that look like those on this chart.....that should tell you something...
What should that tell you? Anybody...
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  • #8,013
  • Dec 30, 2010 11:50am Dec 30, 2010 11:50am
Quoting lawgirl21
Traders...when you see several days of H1 4C BO support/resistence lines that look like those on this chart.....that should tell you something...
What should that tell you? Anybody...

An aggressive move is coming..?
  • #8,014
  • Dec 30, 2010 11:51am Dec 30, 2010 11:51am
Big move coming up ?
  • #8,015
  • Edited 9:23pm Dec 30, 2010 12:04pm | Edited 9:23pm
Quoting NaughtyPip
An aggressive move is coming..?
And MVP....both exactly right..something big is going to happen sooner or later and we are pretty sure about the direction of that move.

Consolidation BOs are money in the bank...I've said it before, but it's worth repeating.
  • #8,016
  • Dec 30, 2010 12:11pm Dec 30, 2010 12:11pm
Quoting lawgirl21
KA, if you had widened your R/S lines and expended them out, you would have noticed that this pair was in consolidation for about 2 days. Then you would have looked for a better BO.. marked by the blue arrow on the chart below, that you referred to.
LA, I do not totally agree with you, but please correct me if i'm wrong. The moment I entered the consolidation was not "started", it was just the normal 1H BO, wich in the end wasn't a real BO but went back to consolidation. So entering at that moment was a possible good trade, at that time.
  • #8,017
  • Dec 30, 2010 12:51pm Dec 30, 2010 12:51pm
Quoting KillerAntz
LA, I do not totally agree with you, but please correct me if i'm wrong. The moment I entered the consolidation was not "started", it was just the normal 1H BO, wich in the end wasn't a real BO but went back to consolidation. So entering at that moment was a possible good trade, at that time.
You are not wrong..depending on what the M15 candles were doing at the time you entered. You were just looking at the H1 4C BO in isolation, which with PA activity over the last couple of days, was too narrow. But your eye is not entirely trained yet to see that....it will be though with a little more practice.

I am at my office now and this is how I had that pair "marked" from last week on my office platform...as a consolidation BO trade to watch.
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  • #8,018
  • Dec 30, 2010 1:48pm Dec 30, 2010 1:48pm
so LG were do you think its going to BO, down or up?
Help to be helped.
  • #8,019
  • Dec 30, 2010 2:08pm Dec 30, 2010 2:08pm
Quoting lawgirl21
You are not wrong..depending on what the M15 candles were doing at the time you entered. You were just looking at the H1 4C BO in isolation, which with PA activity over the last couple of days, was too narrow. But your eye is not entirely trained yet to see that....it will be though with a little more practice.

I am at my office now and this is how I had that pair "marked" from last week on my office platform...as a consolidation BO trade to watch.
Ok, thank you very much, I do understand your answer and it kind of makes much sense. After a long period of consolidation there can be a little up/down (I don't want to call it a spike), but due to the consolidation this up or down has to be big enough to be taken serious. This kind of information is as you said not on my radar, but thanks to you now it is. My trading knowledge has increased yet again, thanks!

I wish you a great end and good 2011 and hope to have more off such discussions :-)
  • #8,020
  • Dec 30, 2010 5:00pm Dec 30, 2010 5:00pm
Man it's getting tough to set sell targets on the CHF crosses as there are no support areas to trade to or to watch for... where will big money bounce prices? How low will it go?
Today's zone = Tomorrow's opportunity!
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