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Trade What You See - Almost Naked Trading

  • #11,221
  • Feb 16, 2011 8:37am Feb 16, 2011 8:37am
Quoting lawgirl21
Excellent!
Thanks! Took a short position just below the upper 4H line because I believed it was going to keep the channel. It appeared to begin to break out, but then reversed early this morning. Went long on the bounce at the beginning of the hour. Let's see what happens.
  • #11,222
  • Feb 16, 2011 8:41am Feb 16, 2011 8:41am
Chart
Attached Image
  • #11,223
  • Feb 16, 2011 8:41am Feb 16, 2011 8:41am
Hello, Lg! How about this entry... Do you think this loss could have been avoided?
Attached Image (click to enlarge)
Click to Enlarge Name: uj.gif Size: 42 KB
A good trade is when I Break Even. A great trade is when I Take Profit.
  • #11,224
  • Feb 16, 2011 8:59am Feb 16, 2011 8:59am
Quoting Cornelius
Hello, Lg! How about this entry... Do you think this loss could have been avoided?

What's the pair? Was this a long trade? I can't really see your chart..
  • #11,225
  • Feb 16, 2011 9:01am Feb 16, 2011 9:01am
Quoting Fitness09
Thanks! Took a short position just below the upper 4H line because I believed it was going to keep the channel. It appeared to begin to break out, but then reversed early this morning. Went long on the bounce at the beginning of the hour. Let's see what happens.
That's the way to do it. In and out as the movement dictates.
  • #11,226
  • Feb 16, 2011 9:04am Feb 16, 2011 9:04am
Since its Wednesday, I've looked at several pairs for possible 3 Tap set ups, but couldn't find 1 pair where the Wk and daily agree.

Anyone see something I've missed?
  • #11,227
  • Feb 16, 2011 9:04am Feb 16, 2011 9:04am
Quoting lawgirl21
I initially went short on this trade. Exited with +8 pips. Then went long. Still in trade.
Out with +55 pips.
  • #11,228
  • Feb 16, 2011 9:10am Feb 16, 2011 9:10am
Hi Lawgirl,
How do you approach trades when there are high impact news items looming? If a pair starts to breakout say 15 mins before the news item, would you take it? I trade the London hours and more often than not, the news item triggers the breakout.
Thanks
  • #11,229
  • Edited 9:26am Feb 16, 2011 9:13am | Edited 9:26am
Back in this pair short. Turning into a ZC trade.
Attached Image
  • #11,230
  • Feb 16, 2011 9:16am Feb 16, 2011 9:16am
Quoting Shearer9
Hi Lawgirl,
How do you approach trades when there are high impact news items looming? If a pair starts to breakout say 15 mins before the news item, would you take it? I trade the London hours and more often than not, the news item triggers the breakout.
Thanks
News is one of my real trading shortcomings. I pay very little attention to it and sometimes get caught, but more often than not, I never notice that major news has come out. I was told by a fairly well known and successful trader that I would be an exceptional trader if I paid more attention to news. I have tried, but find that it is too inhibiting for me.
  • #11,231
  • Feb 16, 2011 9:17am Feb 16, 2011 9:17am
Quoting Cornelius
Hello, Lg! How about this entry... Do you think this loss could have been avoided?
Hi Guys, I am a long time lurker on this thread and firstly would like to thank LG for all of her instruction and guidance, absolutely brilliant. I have been using RSI 4 for a couple of years, so close to RSI 3 as makes no difference. Whilst we need the 3 RSI's all going in the same direction in this example it is already heavily into the over-bought zone and therefore predicting a reversal. IMHO it would have been much better to have let in turn and then catch it in the next uptrend. I find very short frame RSI wonderful predictors of movement (divergence etc), as in this case it was saying watch out!! reversal due. Hope that helps. Not wishing to answer in your place LG but thought it might help. Cheers Gavin
  • #11,232
  • Feb 16, 2011 9:21am Feb 16, 2011 9:21am
Started watching this pair again.
Attached Image
  • #11,233
  • Feb 16, 2011 9:23am Feb 16, 2011 9:23am
Quoting lawgirl21
Back in this pair short.
hmm LG, what was your rationale for taking up that short???
im hesistating to trade that, cause im afraid that i will turn into a ranging channel
  • #11,234
  • Feb 16, 2011 9:25am Feb 16, 2011 9:25am
Quoting bcp1
Hi Guys, I am a long time lurker on this thread and firstly would like to thank LG for all of her instruction and guidance, absolutely brilliant. I have been using RSI 4 for a couple of years, so close to RSI 3 as makes no difference. Whilst we need the 3 RSI's all going in the same direction in this example it is already heavily into the over-bought zone and therefore predicting a reversal. IMHO it would have been much better to have let in turn and then catch it in the next uptrend. I find very short frame RSI wonderful predictors of movement...

Thanks Gavin...please feel free to comment anytime, anywhere. Glad you have joined us. I could not tell much from that chart.
  • #11,235
  • Edited 9:40am Feb 16, 2011 9:29am | Edited 9:40am
Quoting lawgirl21
What's the pair? Was this a long trade? I can't really see your chart..
USD/JPY... short.
If you take an order from the MT history and drag it on the chart you'll have a blue dotted line for a long and a red dotted line for a short.
Just click on the picture to see it better.
A good trade is when I Break Even. A great trade is when I Take Profit.
  • #11,236
  • Feb 16, 2011 9:42am Feb 16, 2011 9:42am
ZC/channel trade.
Attached Image
  • #11,237
  • Feb 16, 2011 9:53am Feb 16, 2011 9:53am
Quoting lawgirl21
I initially went short on this trade. Exited with +8 pips. Then went long. Still in trade.
Did get stopped out +8 then went to bed. Was a little under the weather. Just watching at the moment for next setups. I'm impressed LG, you know how to milk them pips.
  • #11,238
  • Feb 16, 2011 9:57am Feb 16, 2011 9:57am
Quoting royalbowhunt
Did get stopped out +8 then went to bed. Was a little under the weather. Just watching at the moment for next setups. I'm impressed LG, you know how to milk them pips.
It is nothing special anyone can do it if they watch the pair. I stayed up way past my bedtime to watch that pair because I thought I owed it to the followers of this thread to practice what I preach, so to speak, at least once in awhile. I can't do that every night for now, but it did pay off.
  • #11,239
  • Feb 16, 2011 10:06am Feb 16, 2011 10:06am
If you are following this pair..check out what is happening at the change of H1 candle. PA will either turn around or try to head through the resistence line as set by the H1 4C BO.
Attached Image
  • #11,240
  • Feb 16, 2011 10:07am Feb 16, 2011 10:07am
Quoting lawgirl21
If you are following this pair..check out what is happening at the change of H1 candle. PA will either turn around or try to head through the resistence line as set by the H1 4C BO.

EURUSD
Just exited long trade with +10 pips.
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