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Trade What You See - Almost Naked Trading

  • #12,041
  • Edited 1:12am Mar 9, 2011 1:08am | Edited 1:12am
Quoting royalbowhunt
Yes! I'm going to watch a couple of currency's and trade on paper. Just to get a feel for it. But I've been watching LG and others making these channel trades and haven't traded them much. But it looks like a person could pick up a few pips with it during the week waiting for trends to form.
Question would you try and stay inside the open and close of the candles and not the wicks?
Personally, I set my BO lines using the wicks - kinda like a master candle trade, only the wicks can be on any of the 4 candles. This gives me a high & a low on price within that time frame, & price "always" either tries to break through or will move away from those parameters - that's all price can do. If it's a BO, the close outside & entry just beyond the close can help as a form of confirmation. If it's a reversal, I count back 3 candles from the reversal candle (15M) & enter at break of high/low of the highest or lowest of those candles. Good for confirmation & keeping out of whipsaws. Need the room in the channel or box tho'...I like to set a pip target for half the pips of the range of the box.
  • #12,042
  • Mar 9, 2011 2:26am Mar 9, 2011 2:26am
Breakout...
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There`s no life before COFFEE!
  • #12,043
  • Mar 9, 2011 2:43am Mar 9, 2011 2:43am
Also a three tap Jalkok
  • #12,044
  • Mar 9, 2011 3:12am Mar 9, 2011 3:12am
Quoting Mvp
Also a three tap Jalkok
I`m in there right now with -9 pips (short @ 1.3859)
have to be patience and wait...
There`s no life before COFFEE!
  • #12,045
  • Mar 9, 2011 3:50am Mar 9, 2011 3:50am
Quoting jalkok
I`m in there right now with -9 pips (short @ 1.3859)
have to be patience and wait...
I have been looking at the BO but did not saw a valid entry, the PA on the 15M chart told us that this wasn't a strong BO and we should wait for more PA confirmation in the next candles
  • #12,046
  • Mar 9, 2011 3:56am Mar 9, 2011 3:56am
Quoting KillerAntz
I have been looking at the BO but did not saw a valid entry, the PA on the 15M chart told us that this wasn't a strong BO and we should wait for more PA confirmation in the next candles
EURUSD - BO short...
How right you are...!
There`s no life before COFFEE!
  • #12,047
  • Mar 9, 2011 4:04am Mar 9, 2011 4:04am
Out with -28 pips
There`s no life before COFFEE!
  • #12,048
  • Mar 9, 2011 4:31am Mar 9, 2011 4:31am
Worth watching what brokers do in order to make sure you loose

Inserted Video
  • #12,049
  • Mar 9, 2011 4:35am Mar 9, 2011 4:35am
PS im not promoting any products linked to video it just made me very angry
  • #12,050
  • Mar 9, 2011 8:05am Mar 9, 2011 8:05am
Quoting lawgirl21
Trading in a very tight range for about 16 hours. May be getting ready to break downward.
It did break big time, but upward. Hope someone caught it.
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  • #12,051
  • Mar 9, 2011 8:10am Mar 9, 2011 8:10am
Quoting lawgirl21
It did break big time, but upward. Hope someone caught it.

Hi LG,
Wouldnt this long wick, flush out bulls and carry on a ZC trade?
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  • #12,052
  • Mar 9, 2011 8:11am Mar 9, 2011 8:11am
Beautiful BO, wasn't on my radar at all.
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  • #12,053
  • Mar 9, 2011 8:13am Mar 9, 2011 8:13am
A nice BO, then pullback..now may continue down for a ZC move
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  • #12,054
  • Mar 9, 2011 8:16am Mar 9, 2011 8:16am
Good for about 50 pips
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  • #12,055
  • Mar 9, 2011 8:23am Mar 9, 2011 8:23am
Quoting kedridder
Hi LG,
Wouldnt this long wick, flush out bulls and carry on a ZC trade?
Looks to me like that is exactly what it did. But we never had a good entrance into a short trade here, so hopefully noone was in short whent the flush came.
  • #12,056
  • Mar 9, 2011 8:24am Mar 9, 2011 8:24am
Tight consolidation for over 3 days! Must break somewhere soon...
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  • #12,057
  • Mar 9, 2011 8:30am Mar 9, 2011 8:30am
Still in the H1 channel! Just trading this pair up and down through London session would have gathered about 80 pips....now up again.
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  • #12,058
  • Mar 9, 2011 8:34am Mar 9, 2011 8:34am
Quoting pippete
Tight consolidation for over 3 days! Must break somewhere soon...
That's beautiful! Just a matter of being around when it breaks.
  • #12,059
  • Mar 9, 2011 8:39am Mar 9, 2011 8:39am
I'm trading this pair back down.
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  • #12,060
  • Mar 9, 2011 9:10am Mar 9, 2011 9:10am
Quoting lawgirl21
I'm trading this pair back down.
Out with -10 pips.
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