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Trade What You See - Almost Naked Trading

  • #9,881
  • Jan 22, 2011 10:02am Jan 22, 2011 10:02am
Quoting Lazar83
unfortunately this week was thin week for 3 tap but ...as you said we have the other ace in the sleeve !

i cannot express my gratitude to you , for helping me and the other guys in trading . your thread was a real discovery , and i am with it almost since your first post .It opened my eyes for trading, so simple yet so effective. I hope that you are getting deserved reword for your efforts.
Doesn't matter what set up we use to make pips Lazar as long as we are making them. I am very happy you had a good week..you deserve one.
  • #9,882
  • Jan 22, 2011 11:29am Jan 22, 2011 11:29am
I was lucky enough to find LG's thread two months in to demoing fx, and have gone in to live trading. I have read many times in the thread of people dropping thousands on courses and systems that were a waste of money. I am glad I didn't have to waste a ton of money to find a system that works. Thanks for hanging around and helping out!
  • #9,883
  • Jan 22, 2011 11:44am Jan 22, 2011 11:44am
Dear all,

Hope you all having a good weekend and enjoying well deserved two day break after week long hard work.

I have a question if I may. I have noticed quiet a few chart in previous posts which has 1h 4 BO lines marked and price did false breakout before continuing in opposite direction. I also noticed most of you ignored the false breakout and took the correct trade (especially lawgirl).

Is it because the false breakout happened against the direction of the rsi?
Is it because you already had a bias (i.e. Analysed higher tf trend and decide to take breakout trade only in your biased direction)
Is it because the breakout happened towards major Support or Resistance and was risky to take breakout towards major S&R?

What makes you take the breakout or pass it off when it is a false breakout? Looking forward to your response.

thanks
  • #9,884
  • Jan 22, 2011 11:55am Jan 22, 2011 11:55am
Quoting vijidas
Dear all,

Hope you all having a good weekend and enjoying well deserved two day break after week long hard work.

I have a question if I may. I have noticed quiet a few chart in previous posts which has 1h 4 BO lines marked and price did false breakout before continuing in opposite direction. I also noticed most of you ignored the false breakout and took the correct trade (especially lawgirl).

Is it because the false breakout happened against the direction of the rsi?
Is it because you already had a bias (i.e. Analysed higher tf trend and...
you always need to watch out for possible Support and Resistance zones. The great thing with those BO trades is the tight sl.
actually it doesnt have much to do with the RSI itself.

Phanti
Hero calls followed by margin calls...
  • #9,885
  • Jan 22, 2011 12:07pm Jan 22, 2011 12:07pm
Quoting PhAnTi'
you always need to watch out for possible Support and Resistance zones. The great thing with those BO trades is the tight sl.
actually it doesnt have much to do with the RSI itself.

Phanti
I don't totally agree with you on not having to do with the RSI itself.

Depends on alot of things, including how far along in the trading week we are. For BOs, true we don't much care about the higher TFs, because we are not looking for a long term trade in particular. I always like to see as many TF confrimations as possible, but for BOs-- PA trumps RSI. That said, the H4 and H1 should be in agreement with the direction of the BO.

We have no way of totally avoiding false BOs. They weren't so much a problem this past week, but were a real problem the preceding 2 weeks. Waiting for additional confirmation from the M15 chart helps prevent some, but again not all. If the weekly RSI, H4 and H1 are all agreeing, PA is heading in desired direction, and we have waited for extra confirmation of directin on the M15...and there is STILL a false BO.....I cannot think of anything that we left undone, which we ought to have done.
  • #9,886
  • Jan 22, 2011 12:17pm Jan 22, 2011 12:17pm
Quoting lawgirl21
I don't totally agree with you on not having to do with the RSI itself.

Depends on alot of things, including how far along in the trading week we are. For BOs, true we don't much care about the higher TFs, because we are not looking for a long term trade in particular. I always like to see as many TF confrimations as possible, but for BOs-- PA trumps RSI. That said, the H4 and H1 should be in agreement with the direction of the BO.

We have no way of totally avoiding false BOs. They weren't so much a problem this past week, but were a real...
when i look for Bo trades on h1 and h4 i dont use the RSI at all... the tigh sl and the pretty nice r:r gives us the profit at least...
so dont worry about rsi..

its up to everybody herself, so thats how i do it and i do have consistent profit.
but i dont want to intervene in your strict strategy,
keep to lawgirls words guys.

thanks for the reply and the input.

Phanti
Hero calls followed by margin calls...
  • #9,887
  • Jan 22, 2011 1:03pm Jan 22, 2011 1:03pm
Quoting goldenequity

btw... I'm gone through the weekend.
My father passed away on the 10th and
its time to honor a kind and faithful man.
91 years old.
Here's to YOU pop!
Cheers,
G.
Hi Goldenequity,

Sorry to hear about your father, my condolences.
  • #9,888
  • Jan 22, 2011 4:53pm Jan 22, 2011 4:53pm
Quoting goldenequity
GSPE... I apologize to you..
it wasn't a hijack attempt
you are being respectful..
I've holstered my weapon.
Sorry.

btw... I'm gone through the weekend.
My father passed away on the 10th and
its time to honor a kind and faithful man.
91 years old.
Here's to YOU pop!
Cheers,
G.
My Condolence may the peace which comes from the memories of love shared, comfort you now and in the days ahead.
  • #9,889
  • Jan 23, 2011 12:33am Jan 23, 2011 12:33am
Quoting Fitness09
I was lucky enough to find LG's thread two months in to demoing fx, and have gone in to live trading. I have read many times in the thread of people dropping thousands on courses and systems that were a waste of money. I am glad I didn't have to waste a ton of money to find a system that works. Thanks for hanging around and helping out!
I wouldn't say dropping thousands of dollars was a waste of time and money. These are pros and just the knowledge from the insider code and the triad trading are going to be with me along time. My biggest problem with the courses was too many indicators running at a time. I was limited on the number of currency to watch. It slowed my computer down to a crawl. I got to a point were I could only watch 2 or 3 pairs at a time. But what I've learned from the indicators and tools will always be with me. I also have still some of the tools such as Hercules FX witch by its self measures the strength of all currency's against all currency's looking back as the RSI does in its own chart. I also can still use FXI Executor, witch allows you to place a pending trade on your own computer in buy stop, sell stop,by limited or sell limit with out your broker seeing the pending until it hits its trigger. You also can set your SL and TP with out the brokers knowledge. But what I like about Lawgirl's method, I can watch 10 + currency's at a time with just the RSI arrows and throw a few other indicator up to check things and then delete them of not use them at all. The speed of my computer stays in tack. This also helps Executor to place its orders faster. So over all this system with my education paid for, I don't think was wasted. Well time will tell. I still have to get in and out at the right time. Over all I think this thread will just expand my education in the Forex markets and become profitable.
Looking forward to continued learning.
  • #9,890
  • Jan 23, 2011 3:59am Jan 23, 2011 3:59am
Quoting Merlyn
Not so, why would a London broker start their day at 05:00 EST (10:00 GMT), simply not logical. This was discussed on page 405 of this thread.
Hi Merlyn,

Thank you for this correction.
  • #9,891
  • Jan 23, 2011 9:02am Jan 23, 2011 9:02am
Quoting royalbowhunt
I wouldn't say dropping thousands of dollars was a waste of time and money. These are pros and just the knowledge from the insider code and the triad trading are going to be with me along time. My biggest problem with the courses was too many indicators running at a time. I was limited on the number of currency to watch. It slowed my computer down to a crawl. I got to a point were I could only watch 2 or 3 pairs at a time. But what I've learned from the indicators and tools will always be with me. I also have still some of the tools such as Hercules...
You make some good points, RBH. It seems like you have taken something good out of every course you have been involved in. That's really what education is all about, in my opinion...picking up valuable information as we go along. I make light of the thousands I have spent on courses, but I did the same thing...something of value here..something of value there.

You mention currency strength, that is something I am giving more attention. In fact, I spent the weekend studying pair strength and need to test the "test" that I have come up with before introducing it it others.

Glad to have you with us and please keep posting.
  • #9,892
  • Jan 23, 2011 9:09am Jan 23, 2011 9:09am
Quoting geula4
Hi Merlyn,

Thank you for this correction.
TTFN Merlyn
  • #9,893
  • Jan 23, 2011 11:35am Jan 23, 2011 11:35am
Quoting royalbowhunt
I wouldn't say dropping thousands of dollars was a waste of time and money. These are pros and just the knowledge from the insider code and the triad trading are going to be with me along time. My biggest problem with the courses was too many indicators running at a time. I was limited on the number of currency to watch. It slowed my computer down to a crawl. I got to a point were I could only watch 2 or 3 pairs at a time. But what I've learned from the indicators and tools will always be with me. I also have still some of the tools such as Hercules...
I see your points, and I agree if you took something valuable from the lessons, then it was worth something. I was just commenting on what other people were saying about other courses and how they were a waste of time and money. Without taking any of those courses myself, I can't tell you whether I would think it is worth the money.
  • #9,894
  • Jan 23, 2011 2:58pm Jan 23, 2011 2:58pm
Hello everybody...

Is there an ea to backtest the h1 four candles method posted by lawgirl? If not, can someone create one or tell me how to create it by myself ??? Thank you very much!
  • #9,895
  • Jan 23, 2011 3:45pm Jan 23, 2011 3:45pm
Hi All,Ready for Gap Trading?
Hope we can have good start this week..
  • #9,896
  • Jan 23, 2011 3:46pm Jan 23, 2011 3:46pm
waiting
  • #9,897
  • Jan 23, 2011 3:46pm Jan 23, 2011 3:46pm
Didn't think I was going to make it home from church in time...but made it.
  • #9,898
  • Jan 23, 2011 3:56pm Jan 23, 2011 3:56pm
Quoting lawgirl21
Didn't think I was going to make it home from church in time...but made it.
I feel something like this in your sentence:

I really hope I will be on time, I'll come home, go straight to the pc and if I drive that way, there's a chance I'll be home on time, to run to the pc and spot, buy/sell and gather those pips, but now, focus on the road and time...
  • #9,899
  • Jan 23, 2011 3:59pm Jan 23, 2011 3:59pm
Hey everyone,

Ready for some gap trading?
  • #9,900
  • Jan 23, 2011 4:00pm Jan 23, 2011 4:00pm
Quoting KillerAntz
I feel something like this in your sentence:

I really hope I will be on time, I'll come home, go straight to the pc and if I drive that way, there's a chance I'll be home on time, to run to the pc and spot, buy/sell and gather those pips, but now, focus on the road and time...
Isn't that awful? You are exactly right! I'm thinking, " I love you guys and would love to spend more time with you...but I have to get to my pc now and look for pips!"....sounds like you may have some experience with that too.
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