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Trade What You See - Almost Naked Trading

  • #10,381
  • Jan 28, 2011 10:32am Jan 28, 2011 10:32am
Very nice jalok on the eur/usd!! Well done.

What did you use to enter for confirmation? Earlier I almost entered on the earlier 'spike down' (@8AM UK Time) however was a bit hesitant and am glad I didn't just trade for the sake of it.

Seems M15 is the only way to confirm and just 'go' for it? It seems like (as with trading) waiting to long can mean you lose out on a good BO but like I say I dont want to be going for it.

Any advice people? .

(Saw you didn't enter on the trade I'm talking about, did you miss it or did you have a reason?)
  • #10,382
  • Jan 28, 2011 10:47am Jan 28, 2011 10:47am
Quoting ConstantFX
Very nice jalok on the eur/usd!! Well done.

What did you use to enter for confirmation? Earlier I almost entered on the earlier 'spike down' (@8AM UK Time) however was a bit hesitant and am glad I didn't just trade for the sake of it.

Seems M15 is the only way to confirm and just 'go' for it? It seems like (as with trading) waiting to long can mean you lose out on a good BO but like I say I dont want to be going for it.

Any advice people? .

(Saw you didn't enter on the trade I'm talking about, did you miss it or did you have a reason?)...
Totally agree..very nice call, jalok. That consolidation was not in my radar at all. 3560 may be a big support area.
  • #10,383
  • Jan 28, 2011 12:06pm Jan 28, 2011 12:06pm
Quoting lawgirl21
Go down 1-2 timeframes, so H1 or M30.
That makes sense. Thanks!
  • #10,384
  • Jan 28, 2011 2:30pm Jan 28, 2011 2:30pm
Learning,
Did you manage to get a few pips from this?
Nice break to the downside after you posted...nice call

Attached Image (click to enlarge)
Click to Enlarge Name: eu-01-28-11-h4.gif Size: 11 KB


Quoting LearningPIPs
If this E/U H4 should BO of this range, what TF confirmation should we consider? Like we use a 15 minute candle on a H1 BO...
Listen to the whispers.... You may learn something
  • #10,385
  • Jan 28, 2011 2:52pm Jan 28, 2011 2:52pm
I was able to catch the EU BO this morning, and came out with about 50 pips. Good way to end the week.
  • #10,386
  • Jan 28, 2011 3:03pm Jan 28, 2011 3:03pm
Quoting Fitness09
I was able to catch the EU BO this morning, and came out with about 50 pips. Good way to end the week.
Good on you!
  • #10,387
  • Jan 28, 2011 4:04pm Jan 28, 2011 4:04pm
Way to go...
Quoting Fitness09
I was able to catch the EU BO this morning, and came out with about 50 pips. Good way to end the week.
Listen to the whispers.... You may learn something
  • #10,388
  • Jan 28, 2011 10:10pm Jan 28, 2011 10:10pm
First trade using system. Comments welcome.

Long USDCAD at 9938, took first half off at 9978, second half still going with stop moved to BE.
Attached Image (click to enlarge)
Click to Enlarge Name: lg.usdcad.1.27.long.png Size: 36 KB
Be bullish on you.
  • #10,389
  • Jan 29, 2011 12:41am Jan 29, 2011 12:41am
Quoting jalkok
Believes can be very expensive. IMHO: Trade what you see, don`t try to predict the market, go with the flow... Keep your losses small.
Whenever you buy you have ALREADY created a belief within yourself. If you doubt this then the next time you want to buy, try selling. Crazy! Yes BUT the point is you will NEVER buy or sell a market until you believe the market is going to move in your favor and that is a fact.

We are always predicting. Since you cannot yet see the next shape at the right hand edge of the chart, you are predicting what that shape will be. EVERY trade is prediction.

To trade successfully over the long haul one must change the perspective on how one looks at the market. The market is not their for a traders benefit. The market is money extraction machine run by the market makers. We are allowed to participate as 95% of trader supply fuel for the machine.

IMHO The way to success is to view the market for what it really is (a money extraction machine) and then before EVERY trade ask a question.......IF I was a market maker how would I extract money from the masses?
Well how would you...........If you view the market from this perspective it takes on a whole different meaning.
  • #10,390
  • Edited 2:10am Jan 29, 2011 2:07am | Edited 2:10am
Expensive Believes Mm...Quote M.Cole: We are always predicting. Since you cannot yet see the next shape at the right hand edge of the chart, you are predicting what that shape will be. EVERY trade is prediction.

Thanks for your comments...
How right you are... But when the PA is followed and it turns back so one or three candles and you don`t get out at once, you could loose a lot of money while ye wrongly believed the PA would go in your direction again and it did not. Yes, trading is hard MIND-work.
There`s no life before COFFEE!
  • #10,391
  • Jan 29, 2011 6:09am Jan 29, 2011 6:09am
Quoting gejordan
First trade using system. Comments welcome.

Long USDCAD at 9938, took first half off at 9978, second half still going with stop moved to BE.
nice on making some pips.

When I asked its generally from the period seperator onwards, but on that chart you've reached back - I'm not sure how to be taking this really!

Not trying to set anything in stone as I know you cant set it in stone, but via my method I would have missed out (and did) as I would've connected the 3 after the period seperator (didn't happen) and lost on potential pips.

Lawgirl any help? I know it can't be definate this definate that but sometimes it feels a bit 'too' relaxed on where you should draw a trendline... I don't want to be drawing trendlines making them look good for myself but they're not actually proper.

Also re: PA for BO.... when you say PA do you mean the candlestick patterns?
  • #10,392
  • Jan 29, 2011 10:39am Jan 29, 2011 10:39am
Quoting Martin Cole
Whenever you buy you have ALREADY created a belief within yourself. If you doubt this then the next time you want to buy, try selling. Crazy! Yes BUT the point is you will NEVER buy or sell a market until you believe the market is going to move in your favor and that is a fact.

We are always predicting. Since you cannot yet see the next shape at the right hand edge of the chart, you are predicting what that shape will be. EVERY trade is prediction.

To trade successfully over the long haul one must change the perspective on how one looks at the...

Good talk. Really agree with you. The total system is aimed at extracting money form the masses. What really move de market is the volume in the market. More buyers the market moves up more sellers the market moves down. There is nothing your analysis can do. Pareto principle works in the market i.e. 20% of the people move the market at the expence of 80% of the people. The smart momeies rules the market. to really succeed u need to think like them. But with your normal analysis and "set and forget trades"with good MM the masses can still succeed.
We trade to live not live to trade................
  • #10,393
  • Jan 29, 2011 10:20pm Jan 29, 2011 10:20pm
Fellow members.....pl stay within the ambit of the spirit and intention of this great thread started by Lawgirl. So kindly post "posts" related to trading and TA aspects as enunciated by Lawgirl )))...let's not loose the focus...

take care
Chanu
  • #10,394
  • Jan 30, 2011 7:00am Jan 30, 2011 7:00am
I am usually overly cautious so I am very wary of gap trading today due to the uncertainty of the Egyptian situation and the potential size of gaps and time it *may* take for them to fill. Good luck to all those with bigger cajones than me.
  • #10,395
  • Jan 30, 2011 10:26am Jan 30, 2011 10:26am
Quoting Ph22
I am usually overly cautious so I am very wary of gap trading today due to the uncertainty of the Egyptian situation and the potential size of gaps and time it *may* take for them to fill. Good luck to all those with bigger cajones than me.
I was wondering if the Egyptian situation might influence gaps today too. Don't know, I think we should just wait and see what happens.
  • #10,396
  • Jan 30, 2011 1:17pm Jan 30, 2011 1:17pm
Isn't this so awesome? I had to even make it my profile pics.
Come ride with me baby!

The smaller the tighter, and the tighter the better
Ya guys wudnanevaruv got ma meaning if I didn't kill the punk

Holla!
Attached Image
Mystery Is The Final Product Of Ignorance. Hey! What's ma chart doin'
  • #10,397
  • Jan 30, 2011 3:05pm Jan 30, 2011 3:05pm
Just wanted people to be aware of this PA setup on Eur Chf

fantastic down trend on the dailys., a head and shoulder pattern on the 4 hr and its just broken out...wait for a retrace to the neck line and bingo...sell the house
Attached Image(s) (click to enlarge)
Click to Enlarge Name: bs - eur chf daily.jpg Size: 101 KB
Click to Enlarge Name: bs - eur chf 4hr.jpg Size: 105 KB
  • #10,398
  • Jan 30, 2011 3:12pm Jan 30, 2011 3:12pm
Quoting redart007
Just wanted people to be aware of this PA setup on Eur Chf

fantastic down trend on the dailys., a head and shoulder pattern on the 4 hr and its just broken out...wait for a retrace to the neck line and bingo...sell the house
be careful buddy...neckline at around 2780-2800.
Hero calls followed by margin calls...
  • #10,399
  • Jan 30, 2011 3:48pm Jan 30, 2011 3:48pm
getting ready.
  • #10,400
  • Jan 30, 2011 3:49pm Jan 30, 2011 3:49pm
Hey all,

Ready for some gap trading?
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