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Trade What You See - Almost Naked Trading

  • #8,801
  • Jan 6, 2011 10:46am Jan 6, 2011 10:46am
Quoting kedridder
natnimrey, i dont think EURGBP can clear 0.8400. what do u think?

zoom out look at your weekly chart we are right on an area of strong support. Nobody knows whether it will break or not all we can do is act on probability. What is likely to happen here? Price is likely to bounce.

When im in this situation i ask myself, have i made my daily target?

If no, close the trade and take your winnings.

If yes, move your stop to b/e and leave it to run.

  • #8,802
  • Jan 6, 2011 10:46am Jan 6, 2011 10:46am
Don't mean to take away from this thread and LG's strategy. I love LG's strategy and I am a big fan. Part of the reason is that I can't spend lots of time in front of the trading platform. I know that is why alot of people are here also. However, I have had a couple weeks off lately and had some screen time and have been developing a trading system based on shorter time frames (1-hr and 5-min). Since I do not now have lot of time to spend in front of the screen, I am wondering if anyone has free tiem to help me test this system in realtime. You need about 3 hours free at the open of each of the sessions. If anyone has 3 hours to afford at the Frankfort Open, London Open, NY open and/or Tokyo open, please PM me to let me know.

Thank you.
  • #8,803
  • Jan 6, 2011 10:49am Jan 6, 2011 10:49am
Quoting natnimrey
Yea I think PA will have rea trouble against the mighty round number...I've closed half my order, let's see if it can pull it off...

ya, ranging between 0.8407 and 0.8400.
  • #8,804
  • Jan 6, 2011 10:50am Jan 6, 2011 10:50am
I agree. The 1H candle looks like the price is on the move back up.
  • #8,805
  • Jan 6, 2011 10:54am Jan 6, 2011 10:54am
Quoting kedridder
ya, ranging between 0.8407 and 0.8400.

i'm out. +15 PIPs
  • #8,806
  • Jan 6, 2011 10:54am Jan 6, 2011 10:54am
Quoting biganc
I agree. The 1H candle looks like the price is on the move back up.
Maybe another zorro. . . .
  • #8,807
  • Jan 6, 2011 10:56am Jan 6, 2011 10:56am
AJ cancelled out my EG, Doh, +50 Pips on EU

Quoting kedridder
i'm out. +15 PIPs
  • #8,808
  • Jan 6, 2011 10:59am Jan 6, 2011 10:59am
Quoting redart007
AJ cancelled out my EG, Doh, +50 Pips on EU

congrads! i did not dare to trade EU, cos it went down rather aggresively.
  • #8,809
  • Jan 6, 2011 11:12am Jan 6, 2011 11:12am
What about this one
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  • #8,810
  • Edited 1:56pm Jan 6, 2011 11:29am | Edited 1:56pm
+20 pips on EG thank you lawgirl21.
  • #8,811
  • Jan 6, 2011 12:07pm Jan 6, 2011 12:07pm
+90 o the E/u. Looks like it's stalling just above a major support. Could reverse.
  • #8,812
  • Jan 6, 2011 2:19pm Jan 6, 2011 2:19pm
I would really love to hear how everyone did on this great trading day (New York session). I hope everyone is at their week's pip goal now.
  • #8,813
  • Jan 6, 2011 2:34pm Jan 6, 2011 2:34pm
Quoting lawgirl21
I would really love to hear how everyone did on this great trading day (New York session). I hope everyone is at their week's pip goal now.
i made about 100 pips today, but i played it conservatively.
  • #8,814
  • Jan 6, 2011 2:42pm Jan 6, 2011 2:42pm
Quoting lawgirl21
I would really love to hear how everyone did on this great trading day (New York session). I hope everyone is at their week's pip goal now.
120 pips so far (only 20 of them demo...) missed the beautiful EURCHF 120pip run today. Which was against the weekly, so it brings up a question: There were a number of 1H consolidations today, and I'm beginning to like them a lot, but do the RSIs usually have to be in agreement for those? I remember you said RSIs not very important for 4H BOs, but how about 1H? Here is a chart of EURAUD BO that was nice 70 pips, (same thing on on EURJPY) but wkly RSI was not in agreement for both... Any thoughts?
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  • #8,815
  • Jan 6, 2011 2:43pm Jan 6, 2011 2:43pm
is it finally breaking out?
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  • #8,816
  • Jan 6, 2011 2:53pm Jan 6, 2011 2:53pm
Quoting pippete
120 pips so far (only 20 of them demo...) missed the beautiful EURCHF 120pip run today. Which was against the weekly, so it brings up a question: There were a number of 1H consolidations today, and I'm beginning to like them a lot, but do the RSIs usually have to be in agreement for those? I remember you said RSIs not very important for 4H BOs, but how about 1H? Here is a chart of EURAUD BO that was nice 70 pips, (same thing on on EURJPY) but wkly RSI was not in agreement for both... Any thoughts?
Consolidation BOs are pure PA trades. RSI will follow..but initially purely PA. I have said this, but it should be repeated regularly.
  • #8,817
  • Jan 6, 2011 3:00pm Jan 6, 2011 3:00pm
Quoting lawgirl21
Consolidation BOs are pure PA trades. RSI will follow..but initially purely PA. I have said this, but it should be repeated regularly.
And I'll say again, a consolidation BO (CBO) is money in the bank.
  • #8,818
  • Jan 6, 2011 3:11pm Jan 6, 2011 3:11pm
Quoting lawgirl21
Consolidation BOs are pure PA trades. RSI will follow..but initially purely PA. I have said this, but it should be repeated regularly.

So for 1hr consolidation trades, the rsi's are not important?
  • #8,819
  • Edited 3:34pm Jan 6, 2011 3:23pm | Edited 3:34pm
lawgirl21 - any help in 'trends' - i am looking at the audusd h4 but unsure where to draw the trendline - to me its hit 3 times and i have sold but not sure if its correct, can you check?

http://img401.imagshack.us/img401/9982/audusd1.png
  • #8,820
  • Jan 6, 2011 3:27pm Jan 6, 2011 3:27pm
Quoting lawgirl21
And I'll say again, a consolidation BO (CBO) is money in the bank.
Where can i get the ZC indicator?
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