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Trade What You See - Almost Naked Trading

  • #10,141
  • Jan 25, 2011 8:55am Jan 25, 2011 8:55am
dont trade usd pairs atm, news fig in 5 minutes.

usdx will probably drop

lets see
Hero calls followed by margin calls...
  • #10,142
  • Jan 25, 2011 8:55am Jan 25, 2011 8:55am
Thanks LG, I definately agree...I got in that trade at about 1700 after 3 tap confirm. that happened at about 1600. I definately see the BO..but I was just wondering if anybody else thought it was a good 3t? I got in at the arrow.. Thanks again.
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  • #10,143
  • Jan 25, 2011 9:24am Jan 25, 2011 9:24am
Quoting PhAnTi'
dont trade usd pairs atm, news fig in 5 minutes.

usdx will probably drop

lets see
Nice little pop..
  • #10,144
  • Jan 25, 2011 9:29am Jan 25, 2011 9:29am
It's moving again.
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  • #10,145
  • Jan 25, 2011 9:34am Jan 25, 2011 9:34am
Quoting lawgirl21
It's moving again.
Hi LG,

From the chart you are showing, you did not take TP when the pair was in consolidation, any reasons to it?
  • #10,146
  • Jan 25, 2011 9:40am Jan 25, 2011 9:40am
Lawgirl, isn't it imperative to use your broker's time to determine the H1 4 candle high and low for each new trading day? I've been comparing broker times for a handful of brokers and several of them start their days at different times. To trade the H1 4 candle BO, your methods have been effective with FXDD. I'm primarily with FXCM and right now they're on the 11th H1 candle of the day. FXDD is on the 18th H1 candle of the day. Other brokers I've checked are plus or minus a few candles. It seems that 7 hour difference could yield very different results. I've been using a demo FXDD account to ensure I'm in complete alignment with your methods just to be safe. I know this topic has been belabored previously but I'm still hung up on it. Does anybody have any observations on this method using brokers with start times different from FXDD?
  • #10,147
  • Jan 25, 2011 9:43am Jan 25, 2011 9:43am
Quoting JGforex7780
Hi LG,

From the chart you are showing, you did not take TP when the pair was in consolidation, any reasons to it?
You are very observant. I would have had I been in a BO trade. But I am following this pair on a daily chart and am in for the long haul. I am going to stay in it until a certain thing happens..may be days or weeks. I don't mean to sound mysterious, I will explain this trade later.
  • #10,148
  • Jan 25, 2011 9:47am Jan 25, 2011 9:47am
Quoting lawgirl21
You are very observant. I would have had I been in a BO trade. But I am following this pair on a daily chart and am in for the long haul. I am going to stay in it until a certain thing happens..may be days or weeks. I don't mean to sound mysterious, I will explain this trade later.
.

Noted with thanks. . Have a better trading today than yesterday. But was hit but the GBP and USD sudden drop almost 100pips each..
  • #10,149
  • Jan 25, 2011 9:49am Jan 25, 2011 9:49am
Quoting Itrade4milk
Lawgirl, isn't it imperative to use your broker's time to determine the H1 4 candle high and low for each new trading day? I've been comparing broker times for a handful of brokers and several of them start their days at different times. To trade the H1 4 candle BO, your methods have been effective with FXDD. I'm primarily with FXCM and right now they're on the 11th H1 candle of the day. FXDD is on the 18th H1 candle of the day. Other brokers I've checked are plus or minus a few candles. It seems that 7 hour difference could yield very different...
I will ask Scrutch to explain this, as I am not technical. I also use a broker that starts one hour later than FXDD and have no trouble. I just mark the first four candles and look for breakouts from there. The problem may be that you are thinking of my chart postings as signals...they are not intended to be at all. All that matters is what you see on your charts, I am just trying to show what to look for with my postings.
  • #10,150
  • Jan 25, 2011 9:55am Jan 25, 2011 9:55am
LG watch EURGBP From 12/31/10 at 100% could consolidate for a time at or below .86475
  • #10,151
  • Jan 25, 2011 10:08am Jan 25, 2011 10:08am
Quoting lawgirl21
I will ask Scrutch to explain this, as I am not technical. I also use a broker that starts one hour later than FXDD and have no trouble. I just mark the first four candles and look for breakouts from there. The problem may be that you are thinking of my chart postings as signals...they are not intended to be at all. All that matters is what you see on your charts, I am just trying to show what to look for with my postings.
Good point. It's merely the first criteria for this type of setup with subsequent PA being the trigger.
  • #10,152
  • Jan 25, 2011 10:19am Jan 25, 2011 10:19am
Quoting lawgirl21
It's moving again.
Having a lot of trouble getting past H4 resistance at 0.8650 . I bailed at the round number and will wait for a close and re-open above it before I re-enter.
TTFN Merlyn
  • #10,153
  • Jan 25, 2011 10:23am Jan 25, 2011 10:23am
This touches on the principal of "Trade What You See" part of LG's method.
There will be a lot of difference in the way the BO's look on different broker platforms. At times a US EST broker time frame will look very good on the first four candles, at other times a London based broker will look very good.

I explained to Fitness09 a couple of pages back that there will be times that your chart defines the H1-4C-BO as spot on, other times a different broker time will look much better.

There is a continous ongoing discussion about which session really controls the major moves. Usually the discussion is locked between the US and London but I've seen users that are convinced that it's Asia, Japan or whatever. Each has their own views on this and I've never seen any hard study that was done to determine which is the best session to watch.

I would think that the best way to approach this is to "Trade What You See".

Quoting Itrade4milk
Lawgirl, isn't it imperative to use your broker's time to determine the H1 4 candle high and low for each new trading day? I've been comparing broker times for a handful of brokers and several of them start their days at different times.
Does anybody have any observations on this method using brokers with start times different from FXDD?
Listen to the whispers.... You may learn something
  • #10,154
  • Jan 25, 2011 10:23am Jan 25, 2011 10:23am
OK, look forward to it

Quoting lawgirl21
It's a new setup that I am working on that involves the RSI and 2 MAs. I will introduce it after I see results and when most everyone understands how to make pips with BOs and 3 Taps.
  • #10,155
  • Jan 25, 2011 10:24am Jan 25, 2011 10:24am
Quoting Itrade4milk
Lawgirl, isn't it imperative to use your broker's time to determine the H1 4 candle high and low for each new trading day? I've been comparing broker times for a handful of brokers and several of them start their days at different times. To trade the H1 4 candle BO, your methods have been effective with FXDD. I'm primarily with FXCM and right now they're on the 11th H1 candle of the day. FXDD is on the 18th H1 candle of the day. Other brokers I've checked are plus or minus a few candles. It seems that 7 hour difference could yield very different...
I ask similiar Question, and there is an answer @ page 418 #6262 and#6263.
I Change My brokers to have Chart like LG Chart (to learning this Method, but up to you if you already Comfortable with yours.. just Trade what You see) Thanks.
  • #10,156
  • Jan 25, 2011 10:27am Jan 25, 2011 10:27am
Quoting Merlyn
Having a lot of trouble getting past H4 resistance at 0.8650 . I bailed at the round number and will wait for a close and re-open above it before I re-enter.

Now u know why? IMO, i think executing a short at this height will be good!
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  • #10,157
  • Jan 25, 2011 10:46am Jan 25, 2011 10:46am
Quoting kedridder
Now u know why? IMO, i think executing a short at this height will be good!
IMHO, please watch PA closely.
Perhaps the 0.8615-20 area will become a support area before a continued move up (ZC)...

Let's wait and see. :nerd:
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  • #10,158
  • Jan 25, 2011 10:48am Jan 25, 2011 10:48am
Quoting Scrutch
This touches on the principal of "Trade What You See" part of LG's method.
There will be a lot of difference in the way the BO's look on different broker platforms. At times a US EST broker time frame will look very good on the first four candles, at other times a London based broker will look very good.

I explained to Fitness09 a couple of pages back that there will be times that your chart defines the H1-4C-BO as spot on, other times a different broker time will look much better.

There is a continous ongoing discussion about which session...
I must remind myself, "trade what you see". Thanks
  • #10,159
  • Jan 25, 2011 10:54am Jan 25, 2011 10:54am
Quoting geula4
IMHO, please watch PA closely.
Perhaps the 0.8615-20 area will become a support area before a continued move up (ZC)...

Let's wait and see. :nerd:

yeah, you're right Geula4. but i must apologise to everyone in e thread. my justification of this trade, wasnt related to LG's strategy. Its my hunch that e triple top formation will bring e bears to this pair. the resistance line is simply too strong. well, i may be wrong.
  • #10,160
  • Jan 25, 2011 10:57am Jan 25, 2011 10:57am
Quoting kedridder
Now u know why? IMO, i think executing a short at this height will be good!

Pound is still weak after the bad news this morning so this is possibly just a temporary pull-back, could be good for 20 or so pips though. But as the thread is about trading with the longer term trend I'll wait for some confirmation of what exactly is going on.
TTFN Merlyn
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