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Trade What You See - Almost Naked Trading

  • #12,661
  • Mar 22, 2011 11:07pm Mar 22, 2011 11:07pm
Quoting jdcompute
Are we entering on the open of the candle "after" the breakout candle? I just need clarification on the entry on that.
No, because it may reverse. I would move to a 15m and observe PA
  • #12,662
  • Mar 22, 2011 11:10pm Mar 22, 2011 11:10pm
I fount it help.enjoy....
Attached File(s)
File Type: mq4 DIBS_TriggerLines1.1.mq4   8 KB | 509 downloads
  • #12,663
  • Mar 23, 2011 5:21am Mar 23, 2011 5:21am
Quoting lawgirl21

I also use an EA trading GBPUSD on H1 chart. I have made lots of money with it, but it must be monitored (I discovered the hard way). Simple H1 GBPUSD EA by Geoff.
Hi Lawgirl,

I have recently been following the 'Simple H1 GBPUSD EA by Geoff'. Are you still using it? If so, does it still make lots of money for you?

Thanks!
  • #12,664
  • Mar 23, 2011 5:21am Mar 23, 2011 5:21am
Would this be a suitable 3tap H4 Long if the daily arrow were straight up?
Attached Image
  • #12,665
  • Mar 23, 2011 6:57am Mar 23, 2011 6:57am
With the H1 BO trades, if it starts to break out and turns into a fake break out and reverses, how do you manage the exit to cut losses?

If you use PA, how do you determine when enough is enough?
  • #12,666
  • Mar 23, 2011 7:51am Mar 23, 2011 7:51am
1H 4C BO
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  • #12,667
  • Mar 23, 2011 7:54am Mar 23, 2011 7:54am
Quoting jasonnevis
With the H1 BO trades, if it starts to break out and turns into a fake break out and reverses, how do you manage the exit to cut losses?

If you use PA, how do you determine when enough is enough?
Hi LG,

My question is similar to Jason's. I went short on EURJPY at 7:15pm PDT (10:15 EDT my time) at 114.58. This was a H1 BO trade and the 7:15 candle was the first that was completely under the 114.72 breakdown line.

I had to go to bed so I entered a 50 pip stop and a 50 pip TP order. Its been a wild ride as the trade was +37 overnight and then -43 this morning and now is +18.

My question is...how would you have managed this trade if couldn't monitor it due to sleep, work, etc? Second question, did I enter the trade at the proper time in your opinion?

Thank you,
Greg
  • #12,668
  • Mar 23, 2011 8:14am Mar 23, 2011 8:14am
Well, this is as perfect a BO as we can find! Over 100 pips. I hope some of you caught at least some of it...I did not.
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  • #12,669
  • Mar 23, 2011 8:16am Mar 23, 2011 8:16am
Looks exactly like the chart above...
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  • #12,670
  • Mar 23, 2011 8:18am Mar 23, 2011 8:18am
I am in this trade short.
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  • #12,671
  • Mar 23, 2011 8:23am Mar 23, 2011 8:23am
Didn't seem to change during London session
Attached Images
  • #12,672
  • Mar 23, 2011 8:25am Mar 23, 2011 8:25am
Quoting Pirabuji
1H 4C BO

I just entered this trade too.
  • #12,673
  • Mar 23, 2011 8:30am Mar 23, 2011 8:30am
Quoting jasonnevis
With the H1 BO trades, if it starts to break out and turns into a fake break out and reverses, how do you manage the exit to cut losses?

If you use PA, how do you determine when enough is enough?
If you are able to monitor the trade, go candle by candle i.e. watch every candle change and exit when there is a solid change of color. Look at the GBPCHF breakout for example. If monitoring that trade, you could have stayed in for the complete ride down and just now being exiting the trade...or exit 1/2 and let the other half ride. That would be up to you.
  • #12,674
  • Mar 23, 2011 8:33am Mar 23, 2011 8:33am
Quoting Krypt0n1te
Would this be a suitable 3tap H4 Long if the daily arrow were straight up?


No, stay within the weekly timeframe.
  • #12,675
  • Mar 23, 2011 9:19am Mar 23, 2011 9:19am
Dear LG

Thank You so much for all the info and time you give us here.

Sorry if I'm asking stupid Q's, but I really want to understand as much as possible. This is a brilliant Forum, with nice people and except for that I love your attitude towards trading.

OK here goes.

When you say: "Stay within the weekly timeframe"

Do you mean that I should ONLY look at tapping trendlines for from THIS weeks opening? In other words only show the H4 bars from beginning Monday.

Regards
  • #12,676
  • Mar 23, 2011 9:24am Mar 23, 2011 9:24am
Hi Lawgirl21,

Just wanted to say hello from Northern Ireland. I have been reading and studying your excellent info, and am now beginning my forex trading journey, albeit with a demo account, and will be keeping an eye on suggestions from you and fellow members.

Any advice would be most welcome.

Good trading,
psj73.
  • #12,677
  • Mar 23, 2011 9:57am Mar 23, 2011 9:57am
I've decided to go ahead and enter this trade.
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  • #12,678
  • Mar 23, 2011 10:01am Mar 23, 2011 10:01am
Hi LG,

Is this a good 4h-3T? Have I already missed the trade? If there is still chance, how would you enter this trade?

Thanks a lot.
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  • #12,679
  • Mar 23, 2011 10:06am Mar 23, 2011 10:06am
I caught some of this but exited way to early (@ 1.6298) looking at where price is now

Quoting lawgirl21
Looks exactly like the chart above...
  • #12,680
  • Mar 23, 2011 10:08am Mar 23, 2011 10:08am
Do you watch on the 1H or on 15Min?



Quoting lawgirl21
If you are able to monitor the trade, go candle by candle i.e. watch every candle change and exit when there is a solid change of color. Look at the GBPCHF breakout for example. If monitoring that trade, you could have stayed in for the complete ride down and just now being exiting the trade...or exit 1/2 and let the other half ride. That would be up to you.
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