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Trade What You See - Almost Naked Trading

  • #11,421
  • Feb 22, 2011 9:04pm Feb 22, 2011 9:04pm
Quoting royalbowhunt
Watch this one I took 90 pips off it in 3 different trades last night and today. I'm not sure its done or it could reverse. But Chf is still showing its stronger than all other currency right now. Not sure of the Zc but resistance might be at .92867 if it decides to start down again.
Great job, RBH...that's the way to do it. Find a pair and "follow" it around.
  • #11,422
  • Edited 9:20pm Feb 22, 2011 9:08pm | Edited 9:20pm
Quoting lawgirl21
Great job, RBH...that's the way to do it. Find a pair and "follow" it around.
Yep, all of these are so tempting, but I'm sticking with one pair (for now haha).
  • #11,423
  • Feb 22, 2011 9:12pm Feb 22, 2011 9:12pm
Quoting Fitness09
Yep, all of these are so tempting, but I'm ticking with one pair (for now haha).
Good. Until that pair "plays out", then look for another one.
  • #11,424
  • Feb 22, 2011 9:13pm Feb 22, 2011 9:13pm
Quoting Fitness09
Yep, all of these are so tempting, but I'm ticking with one pair (for now haha).
Actually, we are not sure any of these pairs I posted are going to turn into good trades, generally one or two will though.
  • #11,425
  • Feb 22, 2011 9:19pm Feb 22, 2011 9:19pm
I took a look at this chart again from this morning. PA still can't get past that resistance level or get repelled by it either.
Attached Image
  • #11,426
  • Feb 22, 2011 9:21pm Feb 22, 2011 9:21pm
I think what started to mess me up the end of last week was that I switched to trading the EG over the EU. I wasn't familiar with it, and while a chart is a chart, I had spent a good amount of time focusing on the EU only.
  • #11,427
  • Feb 22, 2011 9:26pm Feb 22, 2011 9:26pm
Quoting lawgirl21
I took a look at this chart again from this morning. PA still can't get past that resistance level or get repelled by it either.
If it can't break the 3715, it will head back south
  • #11,428
  • Feb 22, 2011 9:29pm Feb 22, 2011 9:29pm
Quoting lawgirl21
Chart
Hey lawgirl,

Just went short on this then seen your post.

Have you entered yet? and if not why not???


Thanks.
  • #11,429
  • Feb 22, 2011 9:52pm Feb 22, 2011 9:52pm
Quoting Strick
Hey lawgirl,

Just went short on this then seen your post.

Have you entered yet? and if not why not???


Thanks.
No I havent. Don't like the H1 chart now. But there is a 3 Tap on the weekly chart that I do like.

And that perfect Head and Shoulder formation from last year is a beauty.
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  • #11,430
  • Feb 22, 2011 9:56pm Feb 22, 2011 9:56pm
A beautiful 3 Tap trade that I missed was good for about 150+ pips. Now in consolidation before it moves again.
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  • #11,431
  • Feb 22, 2011 10:09pm Feb 22, 2011 10:09pm
Quoting lawgirl21
No I havent. Don't like the H1 chart now. But there is a 3 Tap on the weekly chart that I do like.

And that perfect Head and Shoulder formation from last year is a beauty.

Ok, the entry seems to be my main problem.

On this chart you can see where i entered (at the bottom that red candle) and the RSI's were all heading down at the time. I thought it was perfect with confirmation on the 15M

What was it you didn't like? Or more to the point, why was it a bad decision to go short when i did???
(sorry for the extra questions but these are the anoying ones i need to ask unfortunately... I'm close but just need to get a little more info...)
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  • #11,432
  • Feb 22, 2011 10:32pm Feb 22, 2011 10:32pm
Every time I ask the most important questions I have LG disapeers and goes to bed, I need to start taking note of this time every day...

Very frustrating...

Oh well, another day trading blindly...
  • #11,433
  • Feb 22, 2011 10:34pm Feb 22, 2011 10:34pm
You know its really funny that two people looking at the same chart can see two completely different things, and enter long and short at almost the same levels. My problem with your chart is you're shorting after a period of selling and into support, the very reason why I bought. Not saying you are wrong, this trade may very well go against me and put money in your pocket, I'm just letting you know why I didnt go short there. Best of luck. Hope LG can answer your question.

Quoting Strick
Ok, the entry seems to be my main problem.

On this chart you can see where i entered (at the bottom that red candle) and the RSI's were all heading down at the time. I thought it was perfect with confirmation on the 15M

What was it you didn't like? Or more to the point, why was it a bad decision to go short when i did???
(sorry for the extra questions but these are the anoying ones i need to ask unfortunately... I'm close but just need to get a little more info...)
Attached Image (click to enlarge)
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  • #11,434
  • Feb 22, 2011 10:42pm Feb 22, 2011 10:42pm
So I guess the market will decide who was right and wrong.
  • #11,435
  • Feb 22, 2011 10:58pm Feb 22, 2011 10:58pm
Quoting Strick
Ok, the entry seems to be my main problem.

On this chart you can see where i entered (at the bottom that red candle) and the RSI's were all heading down at the time. I thought it was perfect with confirmation on the 15M

What was it you didn't like? Or more to the point, why was it a bad decision to go short when i did???
(sorry for the extra questions but these are the anoying ones i need to ask unfortunately... I'm close but just need to get a little more info...)
Hi Strick,

I do share the same problem as you. But base on your chart, PA doesnt seem to support your entry. There are green candles appearing before your entry. And if you look at the 1HR charts, it seems to be in a channel. Maybe thats why LG says she does not like the H1 chart.

LG, correct me if I am wrong.
  • #11,436
  • Feb 22, 2011 10:58pm Feb 22, 2011 10:58pm
There are so many things to take into consideration...

Every time I focus on RSI's and 15M confirmation I forget to look for support and resistance and then the trade turns bad and someone points it out.

When I look at S/R and wait for pullbacks and enter it turns against me for another reason.

I swear, every time I look for confirmation of PA going in my direction, as soon as I enter it turns against me. Nearly every time you can look at my screen for a entry line right where it turns around.

The 3 years I have been trying to trade have been 3 years of failure, if I had gone short every time i thought it was time to go long and vice versa i would have done better, so what does that say?

I swear the trading game is responsible for many suicides every year... I have no idea why i keep trying but I am here looking at this frustrating group of charts every single day for hours on end

Someone please shoot me!!!!
  • #11,437
  • Feb 22, 2011 11:02pm Feb 22, 2011 11:02pm
Quoting Strick
Every time I ask the most important questions I have LG disapeers and goes to bed, I need to start taking note of this time every day...

Very frustrating...

Oh well, another day trading blindly...
I'm here..but will be going to bed soon. Seems to me like I do answer your questions or try to.
  • #11,438
  • Feb 22, 2011 11:16pm Feb 22, 2011 11:16pm
Quoting lawgirl21
I'm here..but will be going to bed soon. Seems to me like I do answer your questions or try to.
Yes you do answer them every time, sorry if that sounded like a shot at you, it was a shot at myself for forgetting the time difference.

definately wasnt meant like that so sorry if it was taken the wrong way!

Has just been a few times when I have had important questions about this time (about 2-3pm my time)

But yes you answer every question when you are around so many many thanks!
  • #11,439
  • Feb 22, 2011 11:18pm Feb 22, 2011 11:18pm
Quoting Strick
There are so many things to take into consideration...

Every time I focus on RSI's and 15M confirmation I forget to look for support and resistance and then the trade turns bad and someone points it out.

When I look at S/R and wait for pullbacks and enter it turns against me for another reason.

I swear, every time I look for confirmation of PA going in my direction, as soon as I enter it turns against me. Nearly every time you can look at my screen for a entry line right where it turns around.

The 3 years I have been trying to trade have...
I am assuming you are just being dramatic and not being too serious, otherwise I would really be concerned about you. So let's break down this trade.

Like I said earlier, the weekly chart does look good, so this may yet be a winning short trade.

The M15 chart is marked by the purple vertical line were the first possible entry would have happened. I would have probably waited for the next M15 candle to close and the open of the third candle. Remember that we are taking our time now on entries because of the nature of the market these days. By the third candle, you would have known not to enter yet.

DO NOT RUSH TRADES. Take your time to enter. Watch PA for awhile. But even if you are in the trade, why would you be out of it now? You haven't given it enough time to do anything as it appears to be in consolidation.
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  • #11,440
  • Feb 22, 2011 11:21pm Feb 22, 2011 11:21pm
NOW, I am going to have an hour of quality TV time.
3 traders viewing now