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Trade What You See - Almost Naked Trading

  • #8,921
  • Jan 7, 2011 8:31am Jan 7, 2011 8:31am
Quoting LFB
I was also thinking about it but because of Bernanke speak i will wait.
It's probably wise to wait.
  • #8,922
  • Jan 7, 2011 8:41am Jan 7, 2011 8:41am
I'm in short.
  • #8,923
  • Jan 7, 2011 8:42am Jan 7, 2011 8:42am
Quoting lawgirl21
It's probably wise to wait.
But it was wiser to enter
  • #8,924
  • Jan 7, 2011 8:47am Jan 7, 2011 8:47am
Quoting LFB
But it was wiser to enter
Funny...we'll see, I know I am not always/often wise..
  • #8,925
  • Jan 7, 2011 8:49am Jan 7, 2011 8:49am
Quoting lawgirl21
Funny...we'll see, I know I am not always/often wise..
It was not meant to be irony. I believe in Your judgment and instinct more than in anything on forex. It was wiser to enter because it earns money, waiting would not.
  • #8,926
  • Jan 7, 2011 8:54am Jan 7, 2011 8:54am
Quoting LFB
It was not meant to be irony. I believe Your judgment and instinct more than anything on forex. It was wiser to enter because it earns money, waiting would not.
Oh, I understand that, but I thought it was funny, I liked it! Please don't trust my judgment, I am very often wrong.
  • #8,927
  • Jan 7, 2011 9:21am Jan 7, 2011 9:21am
Quoting lawgirl21
Oh, I understand that, but I thought it was funny, I liked it! Please don't trust my judgment, I am very often wrong.
See how wrong I can be!
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  • #8,928
  • Jan 7, 2011 9:28am Jan 7, 2011 9:28am
Quoting lawgirl21
See how wrong I can be!
Trading on NFP-days can be tough...
So far I'm up 2.4% this week with your excellent method-and I'm happy with that

Have a nice weekend
  • #8,929
  • Jan 7, 2011 9:29am Jan 7, 2011 9:29am
not how wrong u can be but how unreliable any indicator can be . cant imagin the rsi arrow change in less than mins.

hope to see sometin more reliable .
  • #8,930
  • Jan 7, 2011 9:35am Jan 7, 2011 9:35am
Quoting japfx
not how wrong u can be but how unreliable any indicator can be . cant imagin the rsi arrow change in less than mins.

hope to see sometin more reliable .
rsi show us the price power and tell us get ready and we should look for PA places.
  • #8,931
  • Jan 7, 2011 9:35am Jan 7, 2011 9:35am
Quoting LFB
Hi all
Today is the end of my first live trading week on Forex and i would like to share what i have discovered about LG system and MM for it.
As we can read in every single book about forex MM is very important. The same is related to MM for LG system. This week i was trading very carefully. I had open 8 trades, 6 were positive, 2 negative. After this i am finishing this week almost at same balance i have opened it (with 0,5% profit). I was thinking what i did wrong, and answer is my MM. I have opened trades with various risk and closed them often...
Since we trade higher Time Frames (H1, H4) I would not take any trades below RR 1:2.
  • #8,932
  • Jan 7, 2011 9:36am Jan 7, 2011 9:36am
In this trade short. Nothing is really moving now, this one slowly dropping... we'll see. Hope to make up for the 50 pip loss I had earlier today from a huge slippage due to NFP. Lesson learned... close position before NFP!!! duh
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  • #8,933
  • Jan 7, 2011 9:38am Jan 7, 2011 9:38am
The RSI is a guide and that only. We look at price action and previous price direction / range and then the rest is up to you.

Any indicator is as reliable and unreliable as the trader is, if you dont like it this Indi, find another thread and another indicator, simples

Quoting japfx
not how wrong u can be but how unreliable any indicator can be . cant imagin the rsi arrow change in less than mins.

hope to see sometin more reliable .
  • #8,934
  • Jan 7, 2011 9:38am Jan 7, 2011 9:38am
Quoting japfx
not how wrong u can be but how unreliable any indicator can be . cant imagin the rsi arrow change in less than mins.

hope to see sometin more reliable .
It's the PA that's unreliable. The RSI just follows it.
  • #8,935
  • Jan 7, 2011 9:40am Jan 7, 2011 9:40am
Quoting pippete
In this trade short. Nothing is really moving now, this one slowly dropping... we'll see. Hope to make up for the 50 pip loss I had earlier today from a huge slippage due to NFP. Lesson learned... close position before NFP!!! duh
This pair is the gift that keeps on giving. My favorite.
  • #8,936
  • Jan 7, 2011 9:44am Jan 7, 2011 9:44am
Quoting lawgirl21
This pair is the gift that keeps on giving. My favorite.

ya, EURGBP's e smooth one. just flows down like waterfall beautifully, as compared to EURUSD/AUDUSD. Much damage caused by e news.
  • #8,937
  • Jan 7, 2011 9:47am Jan 7, 2011 9:47am
Quoting lawgirl21
I'm in short.
What stopped me going short was the macd still pointing up on the H1. I know you don't use macd, nevertheless, if you can stand the heat, it should turn soonish.
  • #8,938
  • Jan 7, 2011 9:49am Jan 7, 2011 9:49am
Quoting bimmerbob
What stopped me going short was the macd still pointing up on the H1. I know you don't use macd, nevertheless, if you can stand the heat, it should turn soonish.
I think it will turn soon too.
  • #8,939
  • Jan 7, 2011 9:51am Jan 7, 2011 9:51am
Quoting japfx
not how wrong u can be but how unreliable any indicator can be . cant imagin the rsi arrow change in less than mins.

hope to see sometin more reliable .
Including macd & ma (just to name a few), indicators are all but lagging. We cannot rely too much on it to make our entry. Their purpose is to confirm the trend (whether the market is trending or not). Still, the best indicator is PA (candlestick) itself.

On the side note, UCHF per my H4 view is in the bull flag formation atm. I am expecting this pair to continue upside move by next week & hopefully it manage to break above the weekly res TL (see arrow).

Any comment guys?
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  • #8,940
  • Jan 7, 2011 9:52am Jan 7, 2011 9:52am
Quoting lawgirl21
I think it will turn soon too.
I am not recommending this, especially for newer traders, but I placed a buy trade at double my short to offset the trade going against me. That has stabilized my losses.
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