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Trade What You See - Almost Naked Trading

  • #11,821
  • Mar 2, 2011 8:29am Mar 2, 2011 8:29am
Quoting lawgirl21
....if we are on the wrong side of the market, we take our loss and move on.
... and we learn to be on right one
Time matters most
  • #11,822
  • Mar 2, 2011 8:32am Mar 2, 2011 8:32am
Breaking down
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  • #11,823
  • Mar 2, 2011 8:38am Mar 2, 2011 8:38am
Breaking down
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  • #11,824
  • Mar 2, 2011 8:41am Mar 2, 2011 8:41am
Quoting blackqn
... and we learn to be on right one
We try to be..won't happen on every trade..but we are on the right side more than we are on the wrong side.
  • #11,825
  • Mar 2, 2011 8:42am Mar 2, 2011 8:42am
Tight consolidation for 16hrs. I so want it to pop somewhere...
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  • #11,826
  • Mar 2, 2011 8:57am Mar 2, 2011 8:57am
Quoting pippete
Tight consolidation for 16hrs. I so want it to pop somewhere...
I'm in a channel now and hoping for stronger move down, however acording to the rules it must close M15 below 1,6016 to make of confirmation downwards BO I suppose.
Time matters most
  • #11,827
  • Mar 2, 2011 9:00am Mar 2, 2011 9:00am
Quoting lawgirl21
Breaking down
Short here. Need to make up about 170 pips to break even for the week
  • #11,828
  • Mar 2, 2011 9:03am Mar 2, 2011 9:03am
Both are at all time highs and continue moving up. I have been in the metals for the last few days and have made some nice money. They don't trade in pips, although I can't quite figure out how they trade.

From my trades, it looks like silver moves up and down penny by penny, but a one penny move up is 5x the order. For example: a .01 order and a 25 tic up is a 25 x .50 = $12.50. Of course, the converse is true.

An order of .10 ($1.00) would be 25 x 5.00 = $125, etc.

I would love to find out more about how the metals are traded on forex if anyone has more information or knows where I can find information.
  • #11,829
  • Mar 2, 2011 9:07am Mar 2, 2011 9:07am
Moving up again.
  • #11,830
  • Mar 2, 2011 9:16am Mar 2, 2011 9:16am
In this trade.
  • #11,831
  • Mar 2, 2011 9:56am Mar 2, 2011 9:56am
How to calculate the value of one pip (point) on the spot for gold and silver? By dividing the cost of one contract for the number of points, we obtain the value of one pip of gold - $ 10, one pip of silver - $ 50.

The above calculation would be for a full size lot. Calcs would have to be revised for the mini and/or micro lots.
Gold and Silver are calculated in points and tics...not pips, but it's just a acroynm thing and the contract size for Gold and Silver is totaly different than the curriencies.

Quoting lawgirl21
Both are at all time highs and continue moving up. I have been in the metals for the last few days and have made some nice money. They don't trade in pips, although I can't quite figure out how they trade.

From my trades, it looks like silver moves up and down penny by penny, but a one penny move up is 5x the order. For example: a .01 order and a 25 tic up is a 25 x .50 = $12.50. Of course, the converse is true.

An order of .10 ($1.00) would be 25 x 5.00 = $125, etc.

I would love to find out more about how the metals are traded on...
Listen to the whispers.... You may learn something
  • #11,832
  • Mar 2, 2011 9:56am Mar 2, 2011 9:56am
ZC trade
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  • #11,833
  • Mar 2, 2011 10:26am Mar 2, 2011 10:26am
Going to 5M & waiting for BO confirmation kept me out of whipsaw 2-3x & ended up with a nice BO long - WITH confirmation...enter @ 8273 and took +40.
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  • #11,834
  • Mar 2, 2011 11:28am Mar 2, 2011 11:28am
hello lawgirl,

I have a couple of questions to ask if I may. I have been quietly following and looking at your chart (especially 1h 4C breakout). Looking at all the charts I'm trying to figure out how and why you take some of these breakouts and pass others.

for example:
1. I thought you take breakout as per RSI direction (weekly/daily trend). But you have taken breakouts against rsi
2. I thought you ignored breakout based on how close they are to nearest S&R. But you have taken breakouts even though they are close to up coming S&R.
3. I thought you wait for breakouts to come back to test the breakout zone and then take trades. But you have taken trades immediately after breakouts
4. I looked at PA for your trades and still few other things

But I couldn't understand what makes you take a breakout or pass it off.

I have put it down to experience and the feel for a trade when you look at it.

Do you do any background analysis before you take breakout trades? Basically do you have a bias for a pair before even you look at a pair? i.e. A pair is trending and expecting pullback so look for breakout for short?

Could you share how you go about your trading preparation? trading preparation of experienced traders always help.

Hope you don't mind me asking all those questions.

Thanks.
  • #11,835
  • Mar 2, 2011 11:53am Mar 2, 2011 11:53am
Somewhat looks like 3T with no weekly confirmation... What do you think about that?

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Time matters most
  • #11,836
  • Mar 2, 2011 11:59am Mar 2, 2011 11:59am
Still not decided.

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Time matters most
  • #11,837
  • Mar 2, 2011 12:02pm Mar 2, 2011 12:02pm
Quoting blackqn
Somewhat looks like 3T with no weekly confirmation... What do you think about that?

Attachment
Weekly confirmation is needed for 3 Tap H4 trades, as they are generally longer trades.
  • #11,838
  • Mar 2, 2011 12:06pm Mar 2, 2011 12:06pm
Quoting lawgirl21
ZC trade
ZC was good for about 30 pips. Now Retracing again.
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  • #11,839
  • Mar 2, 2011 12:33pm Mar 2, 2011 12:33pm
Quoting lawgirl21
Weekly confirmation is needed for 3 Tap H4 trades, as they are generally longer trades.
Fully agree. I guess that W1 goes up when we pass 1,0178 on its way up, if we are lucky since it is also moreless resistance level coming from last week high, so worth to observe I think.
Time matters most
  • #11,840
  • Mar 2, 2011 12:41pm Mar 2, 2011 12:41pm
Quoting Scrutch
How to calculate the value of one pip (point) on the spot for gold and silver? By dividing the cost of one contract for the number of points, we obtain the value of one pip of gold - $ 10, one pip of silver - $ 50.

The above calculation would be for a full size lot. Calcs would have to be revised for the mini and/or micro lots.
Gold and Silver are calculated in points and tics...not pips, but it's just a acroynm thing and the contract size for Gold and Silver is totaly different than the curriencies.

Keep up the great work LG and all.

Just thought I'd add - the "ounce" size of one full contract varies amongst brokers. For example, I believe with Alpari, one gold contract is 100
troy oz whereas one silver contract is 5000 troy oz.

Hope this helps
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