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Trade What You See - Almost Naked Trading

  • #13,541
  • Apr 7, 2011 11:18am Apr 7, 2011 11:18am
Quoting vany
u gotta understand how the indicators works, i think the settings is applied to use the previous close
Yes, but I think it takes into account also current candle and somehow its highest, open and current values...
Time matters most
  • #13,542
  • Apr 7, 2011 11:26am Apr 7, 2011 11:26am
Quoting blackqn
Now looks less nervous, for a while at least. Please look at shape formed by H4 candles. The one formed today is similar to other shape from couple of days past. I may be wrong here, but if history tends to repeat itself... we shall have upmove confirmed by passage of downtrend TL at moreless 1.4314. What do you think about such a scenario?

Attachment
I think so too. There´s fundamentals support. Just read from the news that it is possible, that ECB will hike rates again on june.
  • #13,543
  • Apr 7, 2011 11:35am Apr 7, 2011 11:35am
Quoting Whistlepips
I think so too. There´s fundamentals support. Just read from the news that it is possible, that ECB will hike rates again on june.
Interesting. I heared Trichet's speech and I've got impression that it is not planned to make several hikes, but rather to observe economy and act to keep balance between inflation and economic growth... He said nothing you can get as promise to hike, however... who knows.

Thanks for info
Time matters most
  • #13,544
  • Apr 7, 2011 11:57am Apr 7, 2011 11:57am
Quoting blackqn
Interesting. I heared Trichet's speech and I've got impression that it is not planned to make several hikes, but rather to observe economy and act to keep balance between inflation and economic growth... He said nothing you can get as promise to hike, however... who knows.

Thanks for info
Yes. Who knows. Economists seem to think that it will rise on june and to be 1.75 at the end of the year.
  • #13,545
  • Apr 7, 2011 12:50pm Apr 7, 2011 12:50pm
I hope that most of you have already made your pips for the week. The market is really jumpy right now, as you all have been discussing.
  • #13,546
  • Apr 7, 2011 12:56pm Apr 7, 2011 12:56pm
Hi LG,
I'm in the process of reading your thread, I scalp for a living and have been doing it for a while now. Looking for some diversification I came across your method. I normally don't post anywhere for reasons you mentioned early on in your thread. Anyway, I just wanted to say: great thing you got going here. Keep up the good work.
Kind regards,
Wim
  • #13,547
  • Apr 7, 2011 1:05pm Apr 7, 2011 1:05pm
Quoting lawgirl21
I hope that most of you have already made your pips for the week. The market is really jumpy right now, as you all have been discussing.
Im still short for the week due to several 3 tap losses, which I opened on monday. Last week was good though. However, I´ve had progress with my H1 4C BOs and now beginning to understand what they are about thanks for all the informative charts and questions/answers in this thread so thanks to you all.

I will keep you informed with my testings, but I´m going on a holi(y)day for the weekend so no testing during weekend. Actually I need a break now. I think, that it´s good to take some distance for a while.
  • #13,548
  • Apr 7, 2011 1:16pm Apr 7, 2011 1:16pm
Lawgirl,

Whenever you see price breaking thru the s/r line, do you wait for the h1 candle to close completely outside that line and THEN move to M15 to look for entry? or do you move to M15 as soon as you see price moving thru the s/r line?
  • #13,549
  • Apr 7, 2011 1:46pm Apr 7, 2011 1:46pm
Thank you lawgirl for this system.

I deposited amount i would like to trade on a demo and traded this system for a week and WOW...

Wouldn't have had any losses if i didn't accidently close an order for 24 pips on the EG.

All these trades were from 1H4CBO I need to work on my entry for them though.
Not to comfortable with the 3tap as of yet.
Attached Image (click to enlarge)
Click to Enlarge Name: eg.jpg Size: 202 KB
  • #13,550
  • Apr 7, 2011 1:50pm Apr 7, 2011 1:50pm
Quoting blackqn
Now looks less nervous, for a while at least. Please look at shape formed by H4 candles. The one formed today is similar to other shape from couple of days past. I may be wrong here, but if history tends to repeat itself... we shall have upmove confirmed by passage of downtrend TL at moreless 1.4314. What do you think about such a scenario?

Attachment
Some ideas about entering E/U from 4 h. I entered yesterday 3 tap long , so I´m hoping that it wont go as low as suggested on the article.

http://www.dailyfx.com/forex/educati...medium=twitter
  • #13,551
  • Apr 7, 2011 2:04pm Apr 7, 2011 2:04pm
Quoting Whistlepips
Some ideas about entering E/U from 4 h. I entered yesterday 3 tap long , so I´m hoping that it wont go as low as suggested on the article.

http://www.dailyfx.com/forex/educati...medium=twitter
Interesting indeed. Lets see what happens.
Time matters most
  • #13,552
  • Edited 2:31pm Apr 7, 2011 2:07pm | Edited 2:31pm
I believe we have had much discussion about this, but no harm in repeating it.

Q: Whenever you see price breaking thru the s/r line, do you wait for the h1 candle to close completely outside that line and THEN move to M15 to look for entry? or do you move to M15 as soon as you see price moving thru the s/r line?

A: I put the pair on my watch list as soon as I see the H1 candle move out of the S/R area.

That is the beginning of a set-up. The trigger comes when a M15 candle has closed completely outside the S/R area and is continuing in the desired direction.

If a scout/probe wick has been sent out past a S/R line, we should wait longer..maybe even another M15 candle or more before entry. There cannot be a hard and fast rule like "wait until two complete candles close before entry", because every trade is different and entry is not an exact science. PA trumps everything and what it does determines when we enter.
  • #13,553
  • Apr 7, 2011 2:16pm Apr 7, 2011 2:16pm
Loved this explanation, thanks LG ")


Quoting lawgirl21
I believe we have had much discussion about this, but no harm in repeating it.

Q: Whenever you see price breaking thru the s/r line, do you wait for the h1 candle to close completely outside that line and THEN move to M15 to look for entry? or do you move to M15 as soon as you see price moving thru the s/r line?

A: I put the pair on my watch list as soon as I see the H1 candle move out of the S/R area.

That is the beginning of a set-up. The trigger comes when a M15 candle has closed completely...
  • #13,554
  • Apr 7, 2011 2:45pm Apr 7, 2011 2:45pm
Quoting lawgirl21
I believe we have had much discussion about this, but no harm in repeating it.

Q: Whenever you see price breaking thru the s/r line, do you wait for the h1 candle to close completely outside that line and THEN move to M15 to look for entry? or do you move to M15 as soon as you see price moving thru the s/r line?

A: I put the pair on my watch list as soon as I see the H1 candle move out of the S/R area.

That is the beginning of a set-up. The trigger comes when a M15 candle has closed completely...

Bulls eye
We trade to live not live to trade................
  • #13,555
  • Apr 7, 2011 2:46pm Apr 7, 2011 2:46pm
Quoting GhostMcFly
Hi, have you seen this one:
Testing Visualization: Manual Trading

It's quite good for testing, however it works in Visual Test (replay) mode with all its limitations: one TF and one pair per test. But for the 3 Tap H4 testing it should be OK.
This looks good. I think that I will try this one. Thanks.
  • #13,556
  • Apr 7, 2011 3:03pm Apr 7, 2011 3:03pm
Quoting lawgirl21
I believe we have had much discussion about this, but no harm in repeating it.

Q: Whenever you see price breaking thru the s/r line, do you wait for the h1 candle to close completely outside that line and THEN move to M15 to look for entry? or do you move to M15 as soon as you see price moving thru the s/r line?

A: I put the pair on my watch list as soon as I see the H1 candle move out of the S/R area.

That is the beginning of a set-up. The trigger comes when a M15 candle has closed...
Thanks!! Now it's all clarified in my head. I know how much I hate repeating things so I do very much appreciate you doing it again for me :-)
  • #13,557
  • Apr 7, 2011 8:40pm Apr 7, 2011 8:40pm
Pulled 50 pips from 3 tap on eur/usd.Maybe should`ve held in
for more but happy with that
  • #13,558
  • Apr 7, 2011 8:43pm Apr 7, 2011 8:43pm
Argghhh this is the difficult part. The Eur is exploding, but it's only the first 2 candles. I have gotten in trouble before jumping in too soon. I'm trying to sit on my hands and wait for 4 candles, but it just keeps going and going.
  • #13,559
  • Apr 7, 2011 9:06pm Apr 7, 2011 9:06pm
Quoting pydpipper
Pulled 50 pips from 3 tap on eur/usd.Maybe should`ve held in
for more but happy with that
Good job..never regret taking profit.
  • #13,560
  • Apr 7, 2011 9:10pm Apr 7, 2011 9:10pm
Quoting Fitness09
Argghhh this is the difficult part. The Eur is exploding, but it's only the first 2 candles. I have gotten in trouble before jumping in too soon. I'm trying to sit on my hands and wait for 4 candles, but it just keeps going and going.
Then look at the H4 chart because the RSIs on three TFs are in the same direction...is there a 3 Tap set up..looks like there is to me. Maybe that's your entry.
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