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Trade What You See - Almost Naked Trading

  • #11,161
  • Feb 14, 2011 11:36pm Feb 14, 2011 11:36pm
Quoting Strick
Hey Lawgirl,

Didn't think you would be trading at the moment, you are in America right?

It's 2.46pm in australia so its prime time for me but not usually many of you on at this time.

Anyway...

I just went long on GBP and AUD (fake account) and just wanted to know if you though they were both decent 3tap trades (both long)
I'm not LG but I would watch closely your trades. The London and Eur trading rooms don't get going until 1 and half to 2 and half hrs from now. Thats when the markets can get started. You need to watch your RSI indicators make sure they are strong in your direction. You also need to watch the support and resistant levels if it start to work for you.
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  • #11,162
  • Feb 14, 2011 11:37pm Feb 14, 2011 11:37pm
Quoting Fitness09
The EU isn't doing anything. May just all it a night.
Can't make up its mind which way to go.
  • #11,163
  • Feb 14, 2011 11:37pm Feb 14, 2011 11:37pm
Quoting lawgirl21
A good setup, but no trigger. Remember for 3 Tap trades we want confirmation on the 3 timeframes...unlike BO trades.

Funny you say that, i was about to say, the H4 RSI is now pointing down but it was pointing up when i 1st posted about it.

Is there something else i should look at for more confirmation or...?
  • #11,164
  • Feb 14, 2011 11:39pm Feb 14, 2011 11:39pm
Quoting royalbowhunt
I'm not LG but I would watch closely your trades. The London and Eur trading rooms don't get going until 1 and half to 2 and half hrs from now. Thats when the markets can get started. You need to watch your RSI indicators make sure they are strong in your direction. You also need to watch the support and resistant levels if it start to work for you.
Thanks, RBH..exactly right. Please keep it up. I am going to bed...
  • #11,165
  • Feb 14, 2011 11:39pm Feb 14, 2011 11:39pm
Thanks Bow, that put's them opening at 2 am my time, and it's difficult to function at work after staying up that late. When I do stay up (like last night), I do pretty well. I picked up 180 pips last night.
  • #11,166
  • Feb 14, 2011 11:43pm Feb 14, 2011 11:43pm
Quoting lawgirl21
Hi Strick...it has been very lonely on the thread tonight. Yes, I'm in the US..it's about 9:30 pm here.

I don't know if I marked the chart like you did, but this was a very good long trade, good for about 80 pips.

Sorry for all the questions,

But I am a little confused, you say good for 80 pips, but I only just entered at about current price, was i suppose to enter straight after the 3rd tap? or on the close of the 3rd tap bar?

Even then i am confused on where 80 pips would come from.
  • #11,167
  • Feb 15, 2011 12:06am Feb 15, 2011 12:06am
Quoting Strick
Sorry for all the questions,

But I am a little confused, you say good for 80 pips, but I only just entered at about current price, was i suppose to enter straight after the 3rd tap? or on the close of the 3rd tap bar?

Even then i am confused on where 80 pips would come from.
Strick I think if you go back to the posts # 11139,11140 and 11141 LG was channel trading at the time she took the 80 pips. Its looks like she was going short taking profits then going long taking profits etc as long as the market continued in the channel. Not positive but that's what it looks like.
  • #11,168
  • Feb 15, 2011 12:57am Feb 15, 2011 12:57am
Aloha LG
Quoting lawgirl21
A good setup, but no trigger. Remember for 3 Tap trades we want confirmation on the 3 timeframes...unlike BO trades.
Got a little confusion goin' on here that seeks clarification. Page 1 of thread:

The H1 4 candle breakout set-up:

A. Find the directional bias on weekly, daily, H4. All must match at the time of set-up.

I was of the persuasion we should have confirmation on the 3 time frames for BO, as per page 1....
  • #11,169
  • Feb 15, 2011 7:58am Feb 15, 2011 7:58am
Quoting Hawaiifive9
Aloha LG


Got a little confusion goin' on here that seeks clarification. Page 1 of thread:

The H1 4 candle breakout set-up:

A. Find the directional bias on weekly, daily, H4. All must match at the time of set-up.

I was of the persuasion we should have confirmation on the 3 time frames for BO, as per page 1....
Thanks for pointing that out to me. I have revised that part of the set-up now. I should read the first page every once in a while to make sure it is up to date.

Here is the revision:

A. This is a price action (PA) trade and the weekly RSI direction does not need to match the direction of the trade. Because this is considered a "fast" trade...meaning over in a few hours at the longest...only the H4 and H1 candles need to confirm direction, but they will do that if PA moves in the desired direction.
  • #11,170
  • Feb 15, 2011 8:02am Feb 15, 2011 8:02am
Good for about 80 pips.
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  • #11,171
  • Feb 15, 2011 8:03am Feb 15, 2011 8:03am
I am in this one..may have come late to the party.
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  • #11,172
  • Feb 15, 2011 8:04am Feb 15, 2011 8:04am
WOW...beautiful ZC trade.
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  • #11,173
  • Feb 15, 2011 8:05am Feb 15, 2011 8:05am
Same here..ZC trade
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  • #11,174
  • Feb 15, 2011 8:07am Feb 15, 2011 8:07am
Quoting lawgirl21
Good for about 80 pips.
I was in this trade early and that big red candle took me out at B/E. I didn't notice until later. I'm going to have to re-think the set B/E strategy as it lost me a few pips today.
Do you set B/E at some point Lawgirl ?
  • #11,175
  • Feb 15, 2011 8:07am Feb 15, 2011 8:07am
Chart
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  • #11,176
  • Feb 15, 2011 8:08am Feb 15, 2011 8:08am
lol darling, seems like you are about + 250 pips today?


thumbs up

ph.
Hero calls followed by margin calls...
  • #11,177
  • Feb 15, 2011 8:10am Feb 15, 2011 8:10am
Quoting simmo24
I was in this trade early and that big red candle took me out at B/E. I didn't notice until later. I'm going to have to re-think the set B/E strategy as it lost me a few pips today.
Do you set B/E at some point Lawgirl ?
Yes I do. I will take half off the table if the trade is going well and move the other half to BE +5 or so. A BE is considered a win. Don't feel a BE. There will be many many more opportunities.
  • #11,178
  • Feb 15, 2011 8:13am Feb 15, 2011 8:13am
Quoting PhAnTi'
lol darling, seems like you are about + 250 pips today?


thumbs up

ph.
I have met my goal...but I wasn't in all those trades. I do hope some of those pips got caught, as there are alot of them out there for the taking this week. Hope you are doing well..
  • #11,179
  • Feb 15, 2011 8:16am Feb 15, 2011 8:16am
Quoting Fitness09
Thanks Bow, that put's them opening at 2 am my time, and it's difficult to function at work after staying up that late. When I do stay up (like last night), I do pretty well. I picked up 180 pips last night.
We have the same problem...those day jobs! If I had a choice, I would stay up for the London session too but like you, I can't.
  • #11,180
  • Feb 15, 2011 10:18am Feb 15, 2011 10:18am
bad trade on EU.. close BE+1.
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