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Trade What You See - Almost Naked Trading

  • #12,381
  • Mar 17, 2011 12:20am Mar 17, 2011 12:20am
Quoting JGforex7780
Hi all,

Have a question. After entering a trade, do you guys monitor it like a hawk or you will look at intervals.

The reason I am asking is that I tend to monitor it closely and don't let it run enough or I get too upset with retrace and up with losses...
I don't no if I will answer the way LG would or the others that monitor this thread. I will try to give you my opinion. I like watching it like a hawk if I can. During the time waiting I may go up and down in the tf to reassure me of my trade direction. Then continue monitoring the smaller time frames for direction. I like to look at the other currency at the same time. Example if I entered a trade short with usdjpy then will waiting for it to go to the next resistance level I would watch ausjpy, eurjpy, gbpjpy, or etc to see the strength that jpy has with the others. It may help you see the other currency's s/r levels that effect your own trade as well. Buy looking at different tf such as 1hr. 4hr. daily, weekly etc you will get a feel for what you may need to risk on pull back or where you don't want to go there. If your going to walk away from a trade because of work then I set a smaller tp and sl according to my risk comfort. I'm sure others can elaborate even better than I. Hope I have not confused you.
  • #12,382
  • Mar 17, 2011 2:25am Mar 17, 2011 2:25am
Congratulations to all the traders who were lucky enough to trade a lot of +pips!!! I hope many of you got a lot of those easy pips...
I am very very happy for you all and it gave me goosepimples on my back this morning by reading your posts...

I only got +35pips on EURUSD because I called it a day and went to the gym with my wife, a normal but also a happy day for me.
There`s no life before COFFEE!
  • #12,383
  • Mar 17, 2011 4:43am Mar 17, 2011 4:43am
I downloaded your attachment but i cant quite get it looking exact... law girls indi comes up with an error....

I'm trying to do a screen shot, but not having much success...
  • #12,384
  • Mar 17, 2011 5:03am Mar 17, 2011 5:03am
Quoting lawgirl21
I can't find any news on it.
In the MBTrading thread, the rep from the company says that lots of the bigger brokers actually pulled their JPY pairs at the same time. There was almost no liquidity in the market at all. Not because of any news, but because so many brokers had bowed out at once.

The last time something like that happened was in 2008 on the Sunday after the Lehman bankruptcy declaration. And the same thing then -- lots of brokers simply stopped supplying liquidity to the markets.
  • #12,385
  • Mar 17, 2011 5:40am Mar 17, 2011 5:40am
Quoting royalbowhunt
I don't no if I will answer the way LG would or the others that monitor this thread. I will try to give you my opinion. I like watching it like a hawk if I can. During the time waiting I may go up and down in the tf to reassure me of my trade direction. Then continue monitoring the smaller time frames for direction. I like to look at the other currency at the same time. Example if I entered a trade short with usdjpy then will waiting for it to go to the next resistance level I would watch ausjpy, eurjpy, gbpjpy, or etc to see the strength that jpy...
Hi RBH
Thanks for your input. Appreciate your view on monitoring trades.
  • #12,386
  • Mar 17, 2011 6:26am Mar 17, 2011 6:26am
Quoting Mattdede
I downloaded your attachment but i cant quite get it looking exact... law girls indi comes up with an error....

I'm trying to do a screen shot, but not having much success...
"Lawgirl's" indi setup:

"ShowCurrentPairOnly" = true
"IndicatorlnRSIWindow" = true
"RSI_WindowName" = THV4 Trix V1.2
Forex can only be understood backwards, but it must be traded forwards.
  • #12,387
  • Edited 6:44am Mar 17, 2011 6:42am | Edited 6:44am
Thank you! Thank you!

It works!! Right i want to post my chart up! so bare with me.

and is there something i need to change on the break out indi?
  • #12,388
  • Mar 17, 2011 7:51am Mar 17, 2011 7:51am
Thanks, LG.

I did see several ZC charts, and kind of guessed the name would be something like "Zig-Zag Continuation".

Quoting lawgirl21
Sorry for the slow response, I missed your post. ZC stands for Zorro Continuation..a silly name I gave a trade that is moving in one direction, retraces, then continues in the initial direction.

Look back a few pages and you will see charts marked with "the mark of Zorro" (from the movie). On these trades we are just looking for PA to continue in the original direction.
  • #12,389
  • Mar 17, 2011 7:54am Mar 17, 2011 7:54am
Quoting prozor7
"Lawgirl's" indi setup:

"ShowCurrentPairOnly" = true
"IndicatorlnRSIWindow" = true
"RSI_WindowName" = THV4 Trix V1.2
On my platform I have:

"RSI_WindowName" = RSI(3)

How come that yours is different?
There`s no life before COFFEE!
  • #12,390
  • Mar 17, 2011 8:19am Mar 17, 2011 8:19am
Quoting Mattdede
Thank you! Thank you!

It works!! Right i want to post my chart up! so bare with me.

and is there something i need to change on the break out indi?
that depends on yours time zone, it is setup for GMT +1

period begins @ 00:00 and monitor Asian session until 05:30 after that box is closed. period ends @ 23:00

best result achieved if box size is lower than 60 pips

RSI & THV Trix are indicator when to enter or exit - image explanation
Attached Image (click to enlarge)
Click to Enlarge Name: eurgpb.jpg Size: 164 KB
Forex can only be understood backwards, but it must be traded forwards.
  • #12,391
  • Mar 17, 2011 8:28am Mar 17, 2011 8:28am
Quoting prozor7
that depends on yours time zone, it is setup for GMT +1

period begins @ 00:00 and monitor Asian session until 05:30 after that box is closed. period ends @ 23:00

best result achieved if box size is lower than 60 pips

RSI & THV Trix are indicator when to enter or exit - image explanation
Okay I understand...
I`m not using THVTrix-Indicator... Thanks anyway.
There`s no life before COFFEE!
  • #12,392
  • Mar 17, 2011 8:47am Mar 17, 2011 8:47am
Lots of chop out there.
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  • #12,393
  • Mar 17, 2011 8:49am Mar 17, 2011 8:49am
Same here. Will have to do something sooner or later.
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  • #12,394
  • Mar 17, 2011 8:51am Mar 17, 2011 8:51am
I'm in this trade short..hopefully it will decide to head further down.
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  • #12,395
  • Mar 17, 2011 8:52am Mar 17, 2011 8:52am
Most pairs are looking alike this morning.
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  • #12,396
  • Mar 17, 2011 8:54am Mar 17, 2011 8:54am
Looks like it is setting up for channel trade
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  • #12,397
  • Mar 17, 2011 8:59am Mar 17, 2011 8:59am
Quoting lawgirl21
Same here. Will have to do something sooner or later.
I'm channeling this one... looking good
  • #12,398
  • Mar 17, 2011 9:02am Mar 17, 2011 9:02am
Quoting pippete
I'm channeling this one... looking good
I was going to channel GBPCHF, but the hour change brought on a green candle.
  • #12,399
  • Mar 17, 2011 9:19am Mar 17, 2011 9:19am
4HR 3 tap to watch
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  • #12,400
  • Mar 17, 2011 9:31am Mar 17, 2011 9:31am
another 4Hr 3 tape to watch
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