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Trade What You See - Almost Naked Trading

  • #8,941
  • Jan 7, 2011 9:59am Jan 7, 2011 9:59am
Quoting lawgirl21
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.
Ah the old Hedge... has saved me a few bads ones as well but can wipe you out quickly if not careful and the trade reverses on the hedge.
Today's zone = Tomorrow's opportunity!
  • #8,942
  • Jan 7, 2011 10:01am Jan 7, 2011 10:01am
Quoting lawgirl21
This pair is the gift that keeps on giving. My favorite.

i want to delect a post i cant belief i am this naught this afternoon.


i am indeed very sorry . and appology to all the great minds here.
  • #8,943
  • Jan 7, 2011 10:07am Jan 7, 2011 10:07am
Quoting japfx
i want to delect a post i cant belief i am this naught this afternoon.


i am indeed very sorry . and appology to all the great minds here.
Absolutely no problem. You have nothing to apologize for.
  • #8,944
  • Jan 7, 2011 10:11am Jan 7, 2011 10:11am
Quoting pres78
Ah the old Hedge... has saved me a few bads ones as well but can wipe you out quickly if not careful and the trade reverses on the hedge.

Yes, it has to be watched and handled very carefully. I have already taken 25 pips out of the long.
  • #8,945
  • Jan 7, 2011 10:14am Jan 7, 2011 10:14am
Quoting japfx
i want to delect a post i cant belief i am this naught this afternoon.


i am indeed very sorry . and appology to all the great minds here.
HE He. No need to delete, just keep referring to it as a reminder when you next feel naught!
  • #8,946
  • Jan 7, 2011 10:33am Jan 7, 2011 10:33am
is this a possible 3 tap on gbpusd
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  • #8,947
  • Jan 7, 2011 10:43am Jan 7, 2011 10:43am
At least one pair is doing what it is "supposed" to be doing!
Attached Image
  • #8,948
  • Jan 7, 2011 10:44am Jan 7, 2011 10:44am
Quoting lawgirl21
At least one pair is doing what it is "supposed" to be doing!
GBPUSD might follow...
  • #8,949
  • Jan 7, 2011 10:48am Jan 7, 2011 10:48am
Quoting des_b
is this a possible 3 tap on gbpusd
It is a 3 Tap setup, but there is no trigger. PA, the candle and RSIs are not favoring a short trade on this setup. And because this is Friday, there will likely not be enough time for a trigger.

Remember, look for RSI confirmation FIRST, then 3 Tap setups. Then triggers of the setups.
  • #8,950
  • Jan 7, 2011 10:52am Jan 7, 2011 10:52am
Thanks LG, should have remembered this !!
  • #8,951
  • Jan 7, 2011 10:56am Jan 7, 2011 10:56am
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
EURGBP - Out with +60 fat pips.. It's like 90 regular ones... That turned my week into positive. 40 pips for the week. Maybe moving from stage 1 to stage 2? Thanks LG for all your time and effort
  • #8,952
  • Jan 7, 2011 11:01am Jan 7, 2011 11:01am
Quoting pippete
EURGBP - Out with +60 fat pips.. It's like 90 regular ones... That turned my week into positive. 40 pips for the week. Maybe moving from stage 1 to stage 2? Thanks LG for all your time and effort
You are very welcome..glad to see you back on your game. I don't like seeing you unhappy..
  • #8,953
  • Jan 7, 2011 11:22am Jan 7, 2011 11:22am
Hi LG,

I'm new here, but have been following your thread daily since the holiday vacation. Thank you for everything you are doing on here. It's great to see this kind of commitment! My question is regarding your positon on GU and NU.

What caused you to go short on those pairs? I thought with BO trades they generally stayed with that trend for a bit, but it seems like on these you were looking at the RSI's or maybe you saw something that I didn't? Please educate this newbie mind!
  • #8,954
  • Edited 8:26pm Jan 7, 2011 11:44am | Edited 8:26pm
I believe by keeping my mind open to learn news & sharing knowledge that I know is the best formula to become a successful trader.

Here are 2 videos from the one I called "Grandmaster" (which I am still using his method combined with LG method atm), and I really like to share it with you guys here, learning about market rhythm.

I hope LG wouldn't mind if I share this. Enjoy the KNOWLEDGE.
http://cid-30d11218295047c9.office.l...x/.Public?uc=1

Regards.

Edit: learn new thing
  • #8,955
  • Jan 7, 2011 11:56am Jan 7, 2011 11:56am
Quoting orangeRANGE
I believe by keeping my mind open to learn news & sharing knowledge that I know is the best formula to become a successful trader.

Here are 2 videos from the one I called "Grandmaster" (which I am still using his method combined with LG method atm), and I really like to share it with you guys here, learning about market rhythm.

I hope LG wouldn't mind if I share this. Enjoy the KNOWLEDGE.
http://cid-30d11218295047c9.office.l...x/.Public?uc=1

Regards.
Thanks OR, I'll take a look at it this weekend. I agree that we should continue to learn as much as possible about the things we really want to be successful at..that's why I recommend books like the Jesse Livermore book, Rich Dad, Poor Dad, The Millionaire Next Door, etc.
  • #8,956
  • Jan 7, 2011 12:25pm Jan 7, 2011 12:25pm
Quoting bobby2
What can I say, I'm bored.

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Attachment
Made 12 pips from the GBPUSD pair went to bed after 2 am.
With God all things are possible.
  • #8,957
  • Jan 7, 2011 8:25pm Jan 7, 2011 8:25pm
Quoting lawgirl21
Thanks OR, I'll take a look at it this weekend. I agree that we should continue to learn as much as possible about the things we really want to be successful at..that's why I recommend books like the Jesse Livermore book, Rich Dad, Poor Dad, The Millionaire Next Door, etc.
Aha...you also read RDPD? What a coincidence then. Let me know how does the 4hour rhythm give you some good lesson.

cheers
  • #8,958
  • Jan 8, 2011 9:54am Jan 8, 2011 9:54am
I call this pair the "gift that keeps on giving". But why, let's take a look at it in a little detail.

A classic entry technique in trend trading is to enter on either the highest high on the last 40 days for a long trade , or the lowest low on the last 40 days for a short trade.

If the market is going to trend up, then it must make new highs. If the market is goind to trend down, then it must make new lows.

Here is a daily chart for EURBGP. You will notice the last 40 days are highlighted. PA tells us that we are looking for a short trade, thus the lowest low of the last 40 days is marked with a vertical line and by the arrow.
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  • #8,959
  • Jan 8, 2011 10:17am Jan 8, 2011 10:17am
Disregarding the more current PA to the far right of the chart, just by observing PA and marking that lowest low of that 40 day period, we are alerted to a potential profitable downtrend.

As we only need the vertical gold line marking the lowest low, I have removed the arrow and the highlighted area. Moving to a lower hour TF and using the H1 4C BO system for entries, here is what we have seen over the last few days...a steady march of PA downhill and right through that lowest low support line of the last 40 days.

What is the significance of this? It indicates that there should be more downside to this pair. This general entry technique, by the way, is one that made a group of traders called the "Turtles" billions of dollars in the commodities market.
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  • #8,960
  • Jan 8, 2011 1:14pm Jan 8, 2011 1:14pm
Quoting lawgirl21
Disregarding the more current PA to the far right of the chart, just by observing PA and marking that lowest low of that 40 day period, we are alerted to a potential profitable downtrend.

As we only need the vertical gold line marking the lowest low, I have removed the arrow and the highlighted area. Moving to a lower hour TF and using the H1 4C BO system for entries, here is what we have seen over the last few days...a steady march of PA downhill and right through that lowest low support line of the last 40 days.

What is the significance of...
Good lesson LG. Thanks so much for taking time to post stuff like this.
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