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Trade What You See - Almost Naked Trading

  • #11,561
  • Feb 24, 2011 6:19pm Feb 24, 2011 6:19pm
Guys......please use the search engine of FF or google for some of these questions. I refuse to answer anymore questions for people who are not reading even the last few pages of the thread and appear to want to be spoon feed everything. There are fundamental trading terms that everyone should know or you really should not be here.

I had one poster today PM me that if I could not explain certain things to him privately through PMs that he would leave the thread. I wished him well and sent him off. I should have told him that I would be happy to personally tutor him, but that my hourly rate is $300 as an attorney.

I do not mean to "go off", but it seems to me that the questions are getting dumber and dumber and I don't have the time or patience for them. So...to those of you who ask before you try to understand or look for your own answers..kick it up a notch. This is real work and I take this work very seriously. I will say again, this is really not a beginners thread and perhaps some of you would be more comfortable elsewhere.
  • #11,562
  • Feb 24, 2011 6:21pm Feb 24, 2011 6:21pm
Quoting austine4life
can some one plz explain what is scout line and how to draw it
attached chart for u
the orange horizontal line that i've drawn. if it's BO to Long trade, your buy stop should be at e orange line, ie e candle's wick. -
Attached Image
  • #11,563
  • Feb 24, 2011 6:58pm Feb 24, 2011 6:58pm
Quoting manniMe
Break Even

http://en.wikipedia.org/wiki/Break-even_(economics)
Thanks a million Manni. I'll read it and from start I have a notion, 'cause of the name, I was not familiar with it because english is not my first language... I know it wasn´t the smartest question, lol..
Wish you a succesful trading day, and again, thanks a lot.
Flp. 4:13
  • #11,564
  • Feb 24, 2011 7:09pm Feb 24, 2011 7:09pm
Quoting MikeNYC
I see a 3 tap trade on that chart: usd - jpy
I'd be careful with that setup Mike, I can see RSI pointing downwards until now, and some TL with diferent accelerations... just double check it if you will
Attached Image (click to enlarge)
Click to Enlarge Name: USDJPY3T.jpg Size: 103 KB
Flp. 4:13
  • #11,565
  • Feb 24, 2011 8:07pm Feb 24, 2011 8:07pm
This pair has been in consolidation for hours. I am in it on H4 3 Tap setup.
Attached Image (click to enlarge)
Click to Enlarge Name: 4xxx.gif Size: 13 KB
  • #11,566
  • Feb 24, 2011 8:09pm Feb 24, 2011 8:09pm
H1 4C BO..Looking for entry.
Attached Image
  • #11,567
  • Feb 24, 2011 8:14pm Feb 24, 2011 8:14pm
Quoting Anthar
I'd be careful with that setup Mike, I can see RSI pointing downwards until now, and some TL with diferent accelerations... just double check it if you will
yes, it is risky. However, it might be at a watershed. The yen has seen it's best level relative to the canadian $ and australian $ and in addition it could be the third interim low since beginning of the year. We will see ....
  • #11,568
  • Feb 24, 2011 8:15pm Feb 24, 2011 8:15pm
A BO setting up
Attached Image
  • #11,569
  • Feb 24, 2011 8:18pm Feb 24, 2011 8:18pm
I'm not seeing much setting up out there. Am I missing something?
  • #11,570
  • Feb 24, 2011 8:28pm Feb 24, 2011 8:28pm
Quoting lawgirl21
I'm not seeing much setting up out there. Am I missing something?
maybe the cable - H1 BO - short
Attached Image (click to enlarge)
Click to Enlarge Name: Pound - H1.gif Size: 37 KB
  • #11,571
  • Feb 24, 2011 8:41pm Feb 24, 2011 8:41pm
Quoting MikeNYC
maybe the cable - H1 BO - short
Maybe, but I'm not seeing it yet.
Attached Image
  • #11,572
  • Feb 24, 2011 8:43pm Feb 24, 2011 8:43pm
I'm long on an H4 chart.
  • #11,573
  • Feb 24, 2011 8:58pm Feb 24, 2011 8:58pm
Quoting lawgirl21
Please correct me if I am wrong Hawaii59.

When we see a BO happening we move to an M15 chart for entry. But H59 noticed that often on the M15 chart there is a small spike and pullback on one of the first few candles above/below the BO line.

We are now marking the highest high/lowest low of a M15 candle tail/wick and requiring a complete close above/below it for entry. Study my posted charts. It is very simple.

This is just extra confirmation of entry.
LG...I enter when price breaks the high/low of the "scouting candle" & ONLY wait for a close above/below that spike if I am being CONSERVATIVE . If I am feeling a little more aggressive, I wait for a close outside the box (regardless if it breaks the scout or not), then I enter when the high/low of THAT candle is violated.

Actually, if I'm in a 3T mode, I go to 15M on the 3rd tap, and if I feel the trade is a "continuation", I wait for a 15M CLOSE (above/below) SR, and then enter when price breaks the high/low of that closed candle. More confirmation
  • #11,574
  • Feb 24, 2011 10:48pm Feb 24, 2011 10:48pm
As a sidebar to my previous comments:

Typically, I will box the entire price range of the high / low that has taken place in the 1st 4 hours, including the wicks.

Now - if price looks like it's going to break the box either way, I go to my 15M chart.

IF price closes outside the box, I'll enter the trade when price breaks the high/low of that closed candle.

If price breaks the box, but does NOT close outside of it, I now have my "scouting wick". I can now decide how I wish to proceed as per the discussion(s) recently posted.

For me...the 3T entry is more structured, as I previously outlined. If continuation is indicated, that entry will wait until a 15M candle breaks S/R & CLOSES beyond the break. THEN, I'll enter when the high/low of the closed candle is broken.

Confirming the confirmation - hehehe
  • #11,575
  • Feb 24, 2011 10:55pm Feb 24, 2011 10:55pm
Quoting Hawaiifive9
As a sidebar to my previous comments:

Typically, I will box the entire price range of the high / low that has taken place in the 1st 4 hours, including the wicks.

Now - if price looks like it's going to break the box either way, I go to my 15M chart.

IF price closes outside the box, I'll enter the trade when price breaks the high/low of that closed candle.

If price breaks the box, but does NOT close outside of it, I now have my "scouting wick". I can now decide how I wish to proceed as per the discussion(s) recently posted.

For me...the 3T...
Good info!
  • #11,576
  • Feb 24, 2011 11:09pm Feb 24, 2011 11:09pm
EU keeps trying to test higher levels, but is just hanging out for now.
  • #11,577
  • Feb 24, 2011 11:57pm Feb 24, 2011 11:57pm
Quoting fitness09
eu keeps trying to test higher levels, but is just hanging out for now.
if she bo of 1.38373 watch for 2/2/11 high of 1.38606 1st resistance level.
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd.gif Size: 22 KB
  • #11,578
  • Feb 25, 2011 1:56am Feb 25, 2011 1:56am
Quoting lawgirl21
I'm long on an H4 chart.
I'm french and new on "FF"...
I'm following your post ..
It's the most simple and reliable I have ever seen in forex forum !
  • #11,579
  • Edited 3:13am Feb 25, 2011 2:45am | Edited 3:13am
Quoting royalbowhunt
if she bo of 1.38373 watch for 2/2/11 high of 1.38606 1st resistance level.
Maybe it is going to be 3T on H4? not so far to 2/2/11 high, so care must be taken indeed

Attached Image (click to enlarge)
Click to Enlarge Name: eurusd20110225.gif Size: 21 KB
Time matters most
  • #11,580
  • Feb 25, 2011 3:32am Feb 25, 2011 3:32am
May became 3T trade soon.

Attached Image (click to enlarge)
Click to Enlarge Name: gbpaud20110225.gif Size: 22 KB
Time matters most
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