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Trade What You See - Almost Naked Trading

  • #12,821
  • Mar 25, 2011 12:09pm Mar 25, 2011 12:09pm
Quoting Anthar
So, I know you're not online anymore, but I hope you'll read this eventually. I'll try to explain this by using a recent example, take that NZDUSD false brakeout they were discusing in the past few posts... we'll take a look at the reason why LG didn't enter the trade

So here's what you see at the H1 graph, and the second graph is the M15 where you go to look for an entry...
Isn't it good idea to put it on 1st page? At least as reference:
http://www.forexfactory.com/showpost...ostcount=12815

Have a nice weekend
Time matters most
  • #12,822
  • Mar 25, 2011 12:54pm Mar 25, 2011 12:54pm
Quoting Anthar
Woww, nice trades mate! go and enjoy your weekend. You deserve it
Thanks!
  • #12,823
  • Edited Mar 26, 2011 2:35am Mar 25, 2011 1:46pm | Edited Mar 26, 2011 2:35am
Quoting Anthar
page 855 - POST #12816 http://www.forexfactory.com/showpost...ostcount=12815
Hi Anthar

At last...

Thank You very very much for this brilliant explanation. Obviously things got a bit tense and understandable so, if you get the same question a gazillion times you do get tired of answering them.

I think LawGirl has a wonderful thread, I'm learning a lot here.

I do feel this post can/must be referenced in post 1.

Thanks again.
  • #12,824
  • Edited 2:06pm Mar 25, 2011 2:00pm | Edited 2:06pm
Quoting Krypt0n1te
Hi Anthar

At last...

Thank You very very much for this brilliant explanation. Obviously things got a bit tense and understandable so, if you get the same question a gazillion times you do get tired of answering them.

I think LawGirl has a wonderful thread, I'm learning a lot here.

I do feel this post can/must be referenced in post 1.

Thanks again.
You're right this is a wonderful thread.
It is my personal belief we should keep the first post concise, but of course it's up to LG to decide what to put in it, she knows I'm glad to contribute.
Anyway... it's ok to ask, but the reason why this thread is so good is because LG and some others build it on a daily basis by sharing ideas on set ups, trades taken, outcomes, SO this being said I'll try and be here to answer this stuff every single time, so that the main purpose of this thread keeps on.
Have a great weekend guys!
Flp. 4:13
  • #12,825
  • Mar 25, 2011 2:05pm Mar 25, 2011 2:05pm
Cool...

Thanks again!, and especially to LawGirl and all the rest contributing, sharing knowledge and answering questions that might sound stupid.

Have a super weekend!
  • #12,826
  • Mar 25, 2011 11:28pm Mar 25, 2011 11:28pm
Anthar! Your a star!!!

Great explaination on how to enter!

I am lovin this trading method! Thanks Law Girl and Co.

Anthar while you might be in the mood, do you mind explaining your stop loss method in relation to fake break outs, trailing stops when in a trade and take profit.

Those charts with arrows and commentry really help!
  • #12,827
  • Mar 26, 2011 1:34am Mar 26, 2011 1:34am
Quoting lawgirl21
My chart looks a little differentl from yours, but the theory is the same. That first yellow arrow was not a solid entry.

The entry candle would have been the H1 candle marked with the purple vertical line.

The second chart shows the same vertical purple line, but on the M15 chart which is the chart I use for entries only. Notice that the M15 entry candle has closed below the scout/wick line of the previous M15 candles. (marked with the orange dotted line). After entry move back to the H1 chart to monitor the trade as chop on the M15 chart...
I know it's a little late..but thanks for explaining this before.
  • #12,828
  • Mar 26, 2011 2:46am Mar 26, 2011 2:46am
Quoting jasonnevis
Anthar! Your a star!!!

Great explaination on how to enter!

I am lovin this trading method! Thanks Law Girl and Co.

Anthar while you might be in the mood, do you mind explaining your stop loss method in relation to fake break outs, trailing stops when in a trade and take profit.

Those charts with arrows and commentry really help!
+1

I would also like to know! I struggle a lot when it comes to SL's and PT's! PT's easier than SL though, as LG mentioned you need to look at your key S/R lines.
  • #12,829
  • Mar 26, 2011 6:29am Mar 26, 2011 6:29am
Hi lawgirl and thank you for a very good thread. Hope you had a good weekend. I am currently demoing your system and have a question concerning price action. I believe, that this perspective is still not been dealt with in your thread. Observing price action has some intuitive and personality-related issues also and therefore there can be large differences with success with a same trading system in the same setups between traders. Im not thinking of candlestick patterns, wedges, 123´s etc, but more the price movements within those last candles which one uses for the decision to enter/exit. The gut feeling.

I would be glad if you could describe a little further your way of studying price action (the intuitive part) and how do you use it in your decisions to enter or exit a trade. This is also something that you can´t see from printed charts because they are not live.

I would also be very glad to find information concerning price action from this perspective.
  • #12,830
  • Mar 27, 2011 10:28am Mar 27, 2011 10:28am
HI LG, hope you had a great w-end. I"ve noticed an indicator on one of your charts showing Spread , ATR, Hi-Low in the upper left corner...Do you still use it? Would you mind sharing the file if you still have it? ...couldn't find it in attachments. thank you
cris
  • #12,831
  • Mar 27, 2011 11:59am Mar 27, 2011 11:59am
I know this is the home of Sunday gaps. Anyone hear anything on the euro other than minor Ireland news? Oanda is quoting 1.4020's from Fridays close of 1.4080's. The spread is only 4 at this time. I just bought but can't find a news item thats creating this gap.
  • #12,832
  • Mar 27, 2011 12:53pm Mar 27, 2011 12:53pm
It is the Ireland news. This might be a real big deal according to Reuters.


Dublin wants to impose losses on banks' senior unsecured bonds not covered by a state guarantee, which currently amount to over 16 billion euros, as part of a new deal with the European Union, the European Central Bank (ECB) and the International Monetary Fund (IMF).

"A sustainable and comprehensive solution for Irish banking that involves recapitalization but also involves an element of burden-sharing ... That is certainly the outcome that the government is looking for," Simon Coveney, minister for agriculture, told state broadcaster RTE.

Under an EU-IMF bailout agreed late last year Ireland can impose losses on banks' junior debt, but the ECB is opposed to treating senior bondholders, which are ranked on a par with depositors, in the same fashion for fear of a contagion risk.

Ireland's new government, elected in February, has said the state cannot afford the current EU-IMF bailout deal and European finance ministers will decide on what sort of concessions they can offer Dublin in coming weeks.

They are awaiting the results of fresh stress tests on Ireland's banks, expected to show a capital hole of around 25 billion euros, on March 31 before deciding on any new deal.
  • #12,833
  • Mar 27, 2011 12:59pm Mar 27, 2011 12:59pm
Yes, I don't think Ireland news can be described as minor Also,the fact that Mrs Merkel's party lost power in the major state of Baden-Wuerttemberg for the first time in 59 years won't be helping matters.
  • #12,834
  • Mar 27, 2011 1:07pm Mar 27, 2011 1:07pm
The Irish government pulls the inevitable weapon – having senior holders lose their money. This news on the weekend, paves the way for a weak start for EUR/USD at the beginning of the new week, at a bad timing.

EU already weakened last week, and closed 100 pips lower. At 1.4085, it’s still above the support line of 1.4030, which was very hard to break on the way up and now turned into support. It’s followed by 1.3950.

the Euro is capped by 1.4160, and more importantly 1.4282, the highest level in a year, which the pair failed to reach.

Cheers
  • #12,835
  • Mar 27, 2011 1:31pm Mar 27, 2011 1:31pm
Anyone taking this gap despite the Ireland news?.. im on the fence.. the cable looks pretty good too
  • #12,836
  • Mar 27, 2011 2:08pm Mar 27, 2011 2:08pm
I'm in the following gap trades.

EURCAD long
EURJPY long
EURUSD long
GBPJPY long

Lets see what happens!
Enter Signature
  • #12,837
  • Mar 27, 2011 2:29pm Mar 27, 2011 2:29pm
Previous sessions: The Aussie dropped to 1.0223 in the early part of the session then rising sharply to 1.0291. After briefly maintain the level, the Aussie dropped to 1.0240 and then consolidating to its current level by the close of trade.
Current range: 1.0189– 1.0295
Further levels: Below: 1.0241, 1.0245, 1.0249 Above: 1.0257, 1.0261, 1.0265
AUD / USD likely to find support at 1.0111, and resistance at 1.0294.
  • #12,838
  • Mar 27, 2011 2:40pm Mar 27, 2011 2:40pm
Quoting truent
Anyone taking this gap despite the Ireland news?.. im on the fence.. the cable looks pretty good too
I took it in the 20's price point. Its worth the trade but don't put a lot of conviction in it. Plus very careful about pulling the plug 5 or 10 pips early. Thats just my opinion doesnt count for much.
  • #12,839
  • Mar 27, 2011 3:04pm Mar 27, 2011 3:04pm
Hello Where is LG and Everybody?
EU Gap Down.. Buy it Now.
  • #12,840
  • Mar 27, 2011 3:27pm Mar 27, 2011 3:27pm
Quoting Cristian2011
HI LG, hope you had a great w-end. I"ve noticed an indicator on one of your charts showing Spread , ATR, Hi-Low in the upper left corner...Do you still use it? Would you mind sharing the file if you still have it? ...couldn't find it in attachments. thank you
cris
Hi Chris, Do you mean This indy?.. Check it out. Put in your indicator.
Attached File(s)
File Type: mq4 Symbol Info Label.mq4   15 KB | 577 downloads
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