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Trade What You See - Almost Naked Trading

  • #11,041
  • Feb 11, 2011 6:39am Feb 11, 2011 6:39am
Quoting MarkyBoy
Yep, I see now. I think the key if drawing a line between consecutive candles is to look for one green followed by one red candle for sells, and the reverse for buys. I was just drawing between 2 adjacent red candles, which isn't really a bounce off a trendline, just a continuation down.

I really like the method though - very easy to spot potential trades to take on smaller timeframes, with longer timeframe confirmation
Yes, the 3-tap trades work fine.
Since LG started with this thread I took 121 trades in total.
RR 1:1
Profit/Loss ratio: 72%

So I'm pretty happy and grateful

Cheers
  • #11,042
  • Feb 11, 2011 9:10am Feb 11, 2011 9:10am
Quoting AndreasF
Yes, the 3-tap trades work fine.
Since LG started with this thread I took 121 trades in total.
RR 1:1
Profit/Loss ratio: 72%

So I'm pretty happy and grateful

Cheers
Those are very impressive stats, Andreas. Great job!
  • #11,043
  • Feb 11, 2011 9:14am Feb 11, 2011 9:14am
..did break,as Ph was telling us a few hours ago. It has now pulled back, but may continue down for a ZC trade.
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  • #11,044
  • Feb 11, 2011 9:16am Feb 11, 2011 9:16am
Same as GBPUSD above, may turn into a ZC trade.
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  • #11,045
  • Feb 11, 2011 9:18am Feb 11, 2011 9:18am
And same here for a long trade
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  • #11,046
  • Feb 11, 2011 9:20am Feb 11, 2011 9:20am
Looks like a possible ZC for most of the US pairs.
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  • #11,047
  • Feb 11, 2011 9:22am Feb 11, 2011 9:22am
I'm this trade and HOPE it becomes a ZC and continues down.
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  • #11,048
  • Feb 11, 2011 9:26am Feb 11, 2011 9:26am
I'm currently in this pair.
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  • #11,049
  • Feb 11, 2011 9:30am Feb 11, 2011 9:30am
Quoting lawgirl21
3 Tap setup and trigger on daily chart.

Hit SL -50 pips.
  • #11,050
  • Feb 11, 2011 10:02am Feb 11, 2011 10:02am
Quoting lawgirl21
Hit SL -50 pips.
That's right, it seems that AUD is playing tricks on most of the pairs. I'm short on AUD/USD, and my trade for the moment doesn't look so good.
A good trade is when I Break Even. A great trade is when I Take Profit.
  • #11,051
  • Feb 11, 2011 10:44am Feb 11, 2011 10:44am
Quoting lawgirl21
I'm currently in this pair.
Took half profit. Moved other half to BE +10.
  • #11,052
  • Feb 11, 2011 10:50am Feb 11, 2011 10:50am
Back in this ZC trade.
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  • #11,053
  • Feb 11, 2011 10:54am Feb 11, 2011 10:54am
Quoting lawgirl21
I'm this trade and HOPE it becomes a ZC and continues down.
Looks like this pair is doing what it is "supposed" to do and is heading down again.
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  • #11,054
  • Feb 11, 2011 10:58am Feb 11, 2011 10:58am
Now continuing down in ZC....
  • #11,055
  • Feb 11, 2011 11:04am Feb 11, 2011 11:04am
Quoting lawgirl21
Looks like this pair is doing what it is "supposed" to do and is heading down again.
Hi Lawgirl,

Did you enter this trade as a 1h 4C BO trade or a ZC trade? Didn't seem to be much confirmation on the BO at where it looks like you entered. Thanks.
Enter Signature
  • #11,056
  • Feb 11, 2011 11:53am Feb 11, 2011 11:53am
Quoting CrucialCraig
Hi Lawgirl,

Did you enter this trade as a 1h 4C BO trade or a ZC trade? Didn't seem to be much confirmation on the BO at where it looks like you entered. Thanks.
A possible entry could have been at the close of the 15M bear candle. LG, please correct me if I'm wrong. This is the way I would have take it, if I hadn't been long on USD on other 3 pairs this morning (my time).
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A good trade is when I Break Even. A great trade is when I Take Profit.
  • #11,057
  • Edited 12:54pm Feb 11, 2011 12:07pm | Edited 12:54pm
Quoting Cornelius
A possible entry could have been at the close of the 15M bear candle. LG, please correct me if I'm wrong. This is the way I would have take it, if I hadn't been long on USD on other 3 pairs this morning (my time).
Thanks for your response. I was under the impression that LG waits for 2-3 smaller TF candles in the same direction or was a little more cautious when entering BOs.

Hopefully she will shine some light on this for us.
Enter Signature
  • #11,058
  • Feb 11, 2011 1:43pm Feb 11, 2011 1:43pm
No Pic necessary with this, and don't know if this has been addressed yet.

But if you go through LG's 1 hr charts you'll notice that the 4C BO and later Channels very often contain the 3 tap nodes, where at least one of the 3 tap candles have a body or wick within the channel. These are HIGHLY, HIGHLY suggestive of the BO direction, confirmed by the arrow box.

P
  • #11,059
  • Feb 11, 2011 2:47pm Feb 11, 2011 2:47pm
Quoting CrucialCraig
Hi Lawgirl,

Did you enter this trade as a 1h 4C BO trade or a ZC trade? Didn't seem to be much confirmation on the BO at where it looks like you entered. Thanks.
I entered it on a BO trade, but did not set a TP, and got caught in the retrace.
  • #11,060
  • Feb 11, 2011 3:03pm Feb 11, 2011 3:03pm
Quoting piposterous
No Pic necessary with this, and don't know if this has been addressed yet.

But if you go through LG's 1 hr charts you'll notice that the 4C BO and later Channels very often contain the 3 tap nodes, where at least one of the 3 tap candles have a body or wick within the channel. These are HIGHLY, HIGHLY suggestive of the BO direction, confirmed by the arrow box.

P
Great observation and double confirmation of direction. Good to have you here.
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