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Trade What You See - Almost Naked Trading

  • #10,221
  • Jan 26, 2011 9:28am Jan 26, 2011 9:28am
anyone watching this trade?

GBPUSD H1 BO upwards
  • #10,222
  • Jan 26, 2011 9:38am Jan 26, 2011 9:38am
Quoting geula4
Great trade!
Thanks, missed about 20 pips, but that's ok. You are a strong believer in support/resistence levels. This trade was a textbook example of hitting that resistence wall.
  • #10,223
  • Jan 26, 2011 10:06am Jan 26, 2011 10:06am
Quoting vany
nice trade LG! congrats, did you take that trade using 3 tap rules ?
Please see this message by LG:
http://www.forexfactory.com/showpost...ostcount=10123

Hope this helps.
  • #10,224
  • Jan 26, 2011 10:19am Jan 26, 2011 10:19am
Quoting vany
anyone watching this trade?

GBPUSD H1 BO upwards
I am, but not liking it much yet.
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  • #10,225
  • Jan 26, 2011 11:00am Jan 26, 2011 11:00am
Hi all,

What do you think of this set up on the EURJPY to go long on a BO above 112.75? Would you wait for a 4H and/or 60min close above resistance before entering?
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  • #10,226
  • Jan 26, 2011 11:31am Jan 26, 2011 11:31am
Quoting Baloo
Hi all,

What do you think of this set up on the EURJPY to go long on a BO above 112.75? Would you wait for a 4H and/or 60min close above resistance before entering?
That is a very strong resistence area. PA hasn't been at that level since October. I would be very cautious. However, if it does break through that level, it could go back to October levels.

Price has knocked on that door at least 5 times that I can see. Sooner or later it will either go through it or be repelled by it and head down.
  • #10,227
  • Jan 26, 2011 11:48am Jan 26, 2011 11:48am
I also face the same problem as I live in west coast (PST). I set pending order for BO on the basis of RSI direction at the time I go to bed. I set the stop loss on the other side of the line (R/S). Some times, I am lucky and some times the wick triggers my order and the stop loss get hit. I am thinking to experiment now with 15 pips above/below the R/S line (as suggested by LG) and also I am thinking to have a tight stop loss to minimize my loss. As far as missing a good run or going positive and then turning negative while I am sleeping, I am thinking to try two orders with one tight take profit and another with no take profit to let it run. Will see how it works.
FX_California

Quoting LearningPIPs
LG - glad you posted this. was looking at the latest consolidation.
a lot of BOs seem to take place around midnight my time. would have liked to place a pending order, but I'm concerned about where price wicks outside of the consolidation and then reverses.

I've seen you post that you had a pending order trigger over night and came out with positive pips, what do you look for when setting your pending orders?
  • #10,228
  • Jan 26, 2011 11:50am Jan 26, 2011 11:50am
Quoting gasservettes
http://www.youtube.com/watch?v=qC86L4fBF5E
Kid doing forex... Amazing video...
I have a 6 yr old that's been watching my charts lately. i'm gonna start training him soon...
  • #10,229
  • Jan 26, 2011 12:00pm Jan 26, 2011 12:00pm
Quoting pippete
Kid doing forex... Amazing video...
I have a 6 yr old that's been watching my charts lately. i'm gonna start training him soon...
He's 7 now and still watches the market with me.

Thanks
  • #10,230
  • Jan 26, 2011 1:01pm Jan 26, 2011 1:01pm
Quoting FX_California
[font=Times New Roman][size=3]I also face the same problem as I live in west coast (PST). I set pending order for BO on the basis of RSI direction at the time I go to bed. I set the stop loss on the other side of the line (R/S). Some times, I am lucky and some times the wick triggers my order and the stop loss get hit. I am thinking to experiment now with 15 pips above/below the R/S line (as suggested by LG) and also I am thinking to have a tight stop loss to minimize my loss. As far as missing a good run or going positive and then turning negative...
Another thing that can be used is a Trade Manager. There are a few free ones to experiment with http://www.forexfactory.com/showthread.php?t=89371 and also some that can be purchased. Dont know if one is better than the other. I use one when i have over night pending orders or LONG term trades so after x number of pips it can take a percentage of your trade off and move every thing to BE. You can have it place Trail Stops after x amount of pips ect... They are very versatile if you like to set and forget certain trades. Hope this helps

Take Care
Always Learning
  • #10,231
  • Jan 26, 2011 4:36pm Jan 26, 2011 4:36pm
Hi LawGirl,

great thread, I have a question to any member on forexfactory regarding this system. The RSI created is for Metatrader. I use Dealbook FX2 (an Australian Platform). Has anyone on here successfully re-created the RSI (showing the arrows) on dealbook?
  • #10,232
  • Jan 26, 2011 5:16pm Jan 26, 2011 5:16pm
Quoting Diggity18
Hi LawGirl,

great thread, I have a question to any member on forexfactory regarding this system. The RSI created is for Metatrader. I use Dealbook FX2 (an Australian Platform). Has anyone on here successfully re-created the RSI (showing the arrows) on dealbook?
Sorry, D, I'm not going to be able to answer that question. Maybe someone here will be able to though. Welcome aboard.
  • #10,233
  • Jan 26, 2011 6:17pm Jan 26, 2011 6:17pm
That makes 2 of us (New from Australia)

I use a different platform for charts as well and just noticed my RSI along the bottom didn't quite match these metatrader ones so I switched it to another called RSI WILDER which seems to be better but possibly a little off, still waititng for more charts to be posted so I can match them up more...
  • #10,234
  • Jan 26, 2011 6:22pm Jan 26, 2011 6:22pm
Quoting Strick
That makes 2 of us (New from Australia)

I use a different platform for charts as well and just noticed my RSI along the bottom didn't quite match these metatrader ones so I switched it to another called RSI WILDER which seems to be better but possibly a little off, still waititng for more charts to be posted so I can match them up more...
What platform do you use Strick?
  • #10,235
  • Jan 26, 2011 6:32pm Jan 26, 2011 6:32pm
Does anyone know if there is an equivilent built in, or add on indicator "Period Seperator" for FXCM Software? They don't appear to have it in their settings and was just curious.

Thanks all.
  • #10,236
  • Jan 26, 2011 6:46pm Jan 26, 2011 6:46pm
Quoting ConstantFX
Does anyone know if there is an equivilent built in, or add on indicator "Period Seperator" for FXCM Software? They don't appear to have it in their settings and was just curious.

Thanks all.
Should be "Charts" at top of platform--> "Properties"--> "Common" and check Period Seperator"
  • #10,237
  • Jan 26, 2011 6:49pm Jan 26, 2011 6:49pm
Very nice 3 Tap set up and trigger. Will watch it now on the H1 chart for a BO
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  • #10,238
  • Jan 26, 2011 6:52pm Jan 26, 2011 6:52pm
Expecting a break, but not sure which direction.
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  • #10,239
  • Jan 26, 2011 6:54pm Jan 26, 2011 6:54pm
Same here...don't know which direction.
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  • #10,240
  • Jan 26, 2011 6:56pm Jan 26, 2011 6:56pm
This pair has been hitting resistence on the H4 chart for about 3 days.
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