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Trade What You See - Almost Naked Trading

  • #9,321
  • Jan 13, 2011 12:19am Jan 13, 2011 12:19am
what time interval do we use to draw our channel.

please need someone to guide with that .


thanks
  • #9,322
  • Jan 13, 2011 12:28am Jan 13, 2011 12:28am
Quoting japfx
what time interval do we use to draw our channel.

please need someone to guide with that .


thanks
Please read page 1. USE 1 hr TF.
  • #9,323
  • Jan 13, 2011 12:59am Jan 13, 2011 12:59am
3-tap setup H4 short
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  • #9,324
  • Jan 13, 2011 1:04am Jan 13, 2011 1:04am
Quoting AndreasF
3-tap setup H4 short

andreasf, e spread is so high, u gotta trade this pair?
  • #9,325
  • Jan 13, 2011 1:23am Jan 13, 2011 1:23am
Quoting kedridder
andreasf, e spread is so high, u gotta trade this pair?
Yes, but only on H4.
You are right that trades on lower TF have the disadvantage of the high spread for this pair.

In this H4 trade I set SL 40 and TP 80 so the spread is not an issue
  • #9,326
  • Jan 13, 2011 1:30am Jan 13, 2011 1:30am
Quoting KillerAntz
That's what happend to me the last days. I had severe losses from the news last week, made some trades this week and "forgot" to set SL, as I thought that it would reverse and continue the trend (I entered with daily, weekly and monthly RSI confirmation), but at my buy it reversed and reversed hard. My account (still on micro) is now, well, almost emptyhttp://cdn.forexfactory.com/images/icons/icon9.gif
KillerAntz if you wish to read my advice here comes one:
If you are neither as successfull nor as experienced as LG newer EVER "forgot" to set SL, because you always can be wrong. As a newbie you always have to have SL set and risk calculated acording this SL. Because if you not the thought "it will reverse any moment" will make your account empty every single time it will go wrong way. You can be successful dozen of times but one wrong situation will always clear your balance. So my advice and what i do is to remember that no matter how good setup looks, how wonderfully all fits together i always can go wrong so you can sometimes double the risk (i am trying to not) but you can never play all or nothing.
  • #9,327
  • Jan 13, 2011 1:47am Jan 13, 2011 1:47am
Supper break out of this pair....thanks LG great thread
  • #9,328
  • Jan 13, 2011 1:56am Jan 13, 2011 1:56am
Quoting AndreasF
Yes, but only on H4.
You are right that trades on lower TF have the disadvantage of the high spread for this pair.

In this H4 trade I set SL 40 and TP 80 so the spread is not an issue


i see. btw, i missed out a GBPCHF trade, cos i feel e spread of 4 PIPs too high.
  • #9,329
  • Jan 13, 2011 1:56am Jan 13, 2011 1:56am
What direction do you guys think the BO will be on EURGBP? Following the trend it should be down...but looking at the D1 chart, this could turn around and head up.
  • #9,330
  • Jan 13, 2011 2:03am Jan 13, 2011 2:03am
Quoting floppynuts
What direction do you guys think the BO will be on EURGBP? Following the trend it should be down...but looking at the D1 chart, this could turn around and head up.

i think u gotta give it some time, for e PA to confirm itself
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  • #9,331
  • Jan 13, 2011 2:14am Jan 13, 2011 2:14am
45+ from the jump..anybody else get it?
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  • #9,332
  • Jan 13, 2011 2:38am Jan 13, 2011 2:38am
Quoting LFB
KillerAntz if you wish to read my advice here comes one:
If you are neither as successfull nor as experienced as LG newer EVER "forgot" to set SL, because you always can be wrong. As a newbie you always have to have SL set and risk calculated acording this SL. Because if you not the thought "it will reverse any moment" will make your account empty every single time it will go wrong way. You can be successful dozen of times but one wrong situation will always clear your balance. So my advice and what i do is to remember that no matter how good...
LFB, don't worry, I really do appriciate your advice. It's 100% true! Trading is about winning pips, losing pips and winning/losing the right amount op pips. This week has been a good lesson to me and I will set a SL every time, if I don't have time to set this, than I should conclude I don't have time to go in this trade. Again, thanks for the advice!
  • #9,333
  • Edited 2:59am Jan 13, 2011 2:45am | Edited 2:59am
Market reaction was the spike up..
It exhausted quickly.

http://img703.imageshack.us/img703/3365/gbpusde.png

Exited all trades....
Charts are looking like a squashed centipede...
It's a war zone right now.
a good time to stay out imo
"You Never Know.....Until You Find Out."
  • #9,334
  • Jan 13, 2011 3:06am Jan 13, 2011 3:06am
Quoting goldenequity
Market reaction was the spike up..
It exhausted quickly.

http://img703.imageshack.us/img703/3365/gbpusde.png

Exited all trades....
Charts are looking like a squashed centipede...
It's a war zone right now.
a good time to stay out imo
I have lost my 2% at London open, it was in blink of an eye, let see if i will manage to get it back today.
  • #9,335
  • Jan 13, 2011 3:13am Jan 13, 2011 3:13am
Quoting geula4
IMHO, patience is needed here as the 0.8330 resistance is quite strong.
However, I do hope we will eventually see the CBO...
IMHO nice CBO
  • #9,336
  • Jan 13, 2011 3:13am Jan 13, 2011 3:13am
Quoting LFB
I have lost my 2% at London open, it was in blink of an eye, let see if i will manage to get it back today.
The Suissee CHF has been the only pairs showing
any stability in the last few hours...
be careful out there...
SMALL trades advised if you want to 'play' in this traffic...
You can make it back 'another day'..
this is brutal price action... can eat your stops
and swallow you whole.
"You Never Know.....Until You Find Out."
  • #9,337
  • Jan 13, 2011 3:25am Jan 13, 2011 3:25am
Quoting geula4
IMHO nice CBO
I wonder how high it can go? Maybe even 0.8400
Love to hear your opinions!
  • #9,338
  • Jan 13, 2011 3:32am Jan 13, 2011 3:32am
Quoting geula4
I wonder how high it can go? Maybe even 0.8400
Love to hear your opinions!
IMHO, let's be careful here... news is coming out... :nerd:
  • #9,339
  • Jan 13, 2011 3:35am Jan 13, 2011 3:35am
Quoting geula4
IMHO, let's be careful here... news is coming out... :nerd:

yup, another more impact one coming up soon in 2.5 hrs. All GBPs
  • #9,340
  • Jan 13, 2011 4:02am Jan 13, 2011 4:02am
Quoting kedridder
yup, another more impact one coming up soon in 2.5 hrs. All GBPs
I'm out with a few pips.
IMHO you are probably right and market isn't moving much until next news release.
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