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Trade What You See - Almost Naked Trading

  • #13,881
  • Apr 13, 2011 1:36pm Apr 13, 2011 1:36pm
My EUR/AUD 3 tap hit SL - 80 pips. This week BE at the moment.
  • #13,882
  • Apr 13, 2011 1:54pm Apr 13, 2011 1:54pm
Quoting Whistlepips
My EUR/AUD 3 tap hit SL - 80 pips. This week BE at the moment.
There are two days left, hopefuly winning ones.
Time matters most
  • #13,883
  • Apr 13, 2011 2:04pm Apr 13, 2011 2:04pm
Quoting blackqn
Thanks Anthar, now we have three volountiers so far:

1) Whistlepips
2) Anthar
3) Blackqn

Details we can agree tomorrow, I hope we will collect more hands till then. All ideas are welcome.

Please let every new volountier reply to this mail and add himself to the list, tomorrow we agree on details I hope.
It will be a job over the weekend, right? Then I'm in too, it can be fun.

Please bear in mind I am sort of rookie. Actually I am still in the process of learing the PA and building a system which fits my needs. But if you tell me what to do, I think I can manage. Will make screenshots If rookies are not allowed for this test, then it is OK, no worries at all.

I didn't verified it yet, but by watching the moves of Gold lately it seems like 4H 4C BO could be interesting. Generally speaking, I think trending markets like Gold (in a big picture) are better for these BO setups than the ranging ones; well, actually it is obvious, it is a breakout after all.
  • #13,884
  • Apr 13, 2011 2:08pm Apr 13, 2011 2:08pm
Quoting blackqn
There are two days left, hopefuly winning ones.
Hope so. Had weeks pips collected + 250 pips yesterday night, but I let them run and trailed stops from a couple of them. Now it seems that it wasnīt a very good idea after all. Itīs so easy to close and open them again. There are always setups. Why didnīt I do it? Maybe I got greedy. The number 1 enemy of a trader. Anyway, thereīs winning in losings because they put you to make an analysis of what happened.

All in all, you just have to believe your system, but the belief is at test during these situations.
  • #13,885
  • Apr 13, 2011 2:27pm Apr 13, 2011 2:27pm
Quoting GhostMcFly
It will be a job over the weekend, right? Then I'm in too, it can be fun.

Please bear in mind I am sort of rookie. Actually I am still in the process of learing the PA and building a system which fits my needs. But if you tell me what to do, I think I can manage. Will make screenshots If rookies are not allowed for this test, then it is OK, no worries at all.

I didn't verified it yet, but by watching the moves of Gold lately it seems like 4H 4C BO could be interesting. Generally speaking, I think trending markets like Gold (in a big picture)...
Yes, it will be over the weekend. We will try breakouts on H4 and D1, using description from page 1, however adjusted to TFs higher than H1. Each pair of hands is useful, thanks, so now we have 4:

1) Whistlepips
2) Anthar
3) GhostMcFly
4) Blackqn

Details we can agree tomorrow, I hope we will collect more hands till then. All ideas are welcome. I'll try to post my proposal regarding test pan later today, so we cn disuss, adjust and agree.

Please let every new volountier reply to this mail and add himself to the list.
Time matters most
  • #13,886
  • Apr 13, 2011 3:14pm Apr 13, 2011 3:14pm
Quoting blackqn
Yes, it will be over the weekend. We will try breakouts on H4 and D1, using description from page 1, however adjusted to TFs higher than H1. Each pair of hands is useful, thanks, so now we have 4:

1) Whistlepips
2) Anthar
3) GhostMcFly
4) Blackqn

Details we can agree tomorrow, I hope we will collect more hands till then. All ideas are welcome. I'll try to post my proposal regarding test pan later today, so we cn disuss, adjust and agree.

Please let every new volountier reply to this mail and add himself to the list.
I'll be happy to help.
  • #13,887
  • Apr 13, 2011 3:15pm Apr 13, 2011 3:15pm
Quoting Whistlepips
Hope so. Had weeks pips collected + 250 pips yesterday night, but I let them run and trailed stops from a couple of them. Now it seems that it wasnīt a very good idea after all. Itīs so easy to close and open them again. There are always setups. Why didnīt I do it? Maybe I got greedy. The number 1 enemy of a trader. Anyway, thereīs winning in losings because they put you to make an analysis of what happened.

All in all, you just have to believe your system, but the belief is at test during these situations.
You already know there's a win in every loss, and this is great. I can just say to you... IMHO, looking backt at a loss trade with the intention of analysing what you did wrong, what made you stay in when you could've closed and the emotions involved in it is what ensues the win in that loss.
On the other hand never look back at your lost trade with regrets or complaints of your actions, you did the best you knew or could at the moment, regreting it or "punishing" yourself for doing something you can't undo is like banging our head on a wall, it's crazy acting.
Don't take this the wrong way, it's not a criticism directly for you in any way, it's just a thought that equally applies to me and to any other person that finds some use in it.
Soo focus on your current trade, know you are improving trade by trade, and go get the coming trades armed with the experience your recent losses gave you. Wish you a succesful week at the end!
Flp. 4:13
  • #13,888
  • Apr 13, 2011 3:22pm Apr 13, 2011 3:22pm
Quoting Anthar
You already know there's a win in every loss, and this is great. I can just say to you... IMHO, looking backt at a loss trade with the intention of analysing what you did wrong, what made you stay in when you could've closed and the emotions involved in it is what ensues the win in that loss.
On the other hand never look back at your lost trade with regrets or complaints of your actions, you did the best you knew or could at the moment, regreting it or "punishing" yourself for doing something you can't undo is like banging our head on a wall,...
Thanks. Good points. Especially the idea of why did I stay in it. I havenīt thought of it that way thoroughly. Best of success to you also.
  • #13,889
  • Apr 13, 2011 5:26pm Apr 13, 2011 5:26pm
Quoting LearningPIPs
I'll be happy to help.
Then we are

1) Whistlepips
2) Anthar
3) GhostMcFly
4) LearningPIPs
5) Blackqn

Proposal is as follows:

1) Platform MT4 equipped with Those scripts, RSI(3) and CustomCandle indi, and RSI arrows indi (I'm not sure if this one works properly with backtesting, so maybe it will be necessary to look at the candles and read RSI direction for higher TF from candles)

2) Start date: 1st February 2010, end date 10 April 2011

3) Test of breakouts from consolidations:
- H4 TF
- first 4 candles of week, any 4 candles of obvious consolidation
- M30 wicks create scout ine as M15 at H1 BO

- D1 TF
- first 4 candles o month, any 4 candles of obvious consolidation
- H1 wicks create scout line as M15 for H1 BO
- It may be good idea to use H1 BO as a confirmation of breakout or channel trading

I think that in general we shall use what is described in this thread, especially page 1, but scalled to tested TF.

And what do you think: shall we try to make transactions and record them (results will be highly dependant on experience) or shall we just look for potential TP and SL? Or maybe we shall do both to find out how to recognize properly, how to enter and what shall be prevented?

I think that results shall be presented in pips, so used lot size doesn't matter and everyone may use his comfortable one. We probably shall also agree on a way results are presented, so we keep consistency.

Any opinions, additions, removals, adjustments? Lets find common view.
Time matters most
  • #13,890
  • Apr 13, 2011 5:37pm Apr 13, 2011 5:37pm
Quoting lawgirl21
+55 pips
Thanks Lawgirl, for a great thread.
Assuming H1 4C BO Short on AUD/NZD. Was the rule to enter below Scout wick ignored, because RSI were all down? Or some other reason.
If anyone could explain, will help me understand the system better.
  • #13,891
  • Apr 13, 2011 7:37pm Apr 13, 2011 7:37pm
LawGirl, how much emphasis do you put on the RSI direction when considering a long or short on the breakout of the H1 4C? Also, I followed you in the Geoff EA; did well until heavy loss on one trade. How do you protect yourself now from these potential disasters as you said you were participating in this EA again? Thanks for your brains; you are a great educator and creator and I appreciate everything you're doing for all of us!
  • #13,892
  • Apr 13, 2011 7:54pm Apr 13, 2011 7:54pm
Hi lawgirl21

Great thread

Thank you for sharing. Really appreciate that you are one of those rare individuals that'd help out whereever they can
  • #13,893
  • Apr 13, 2011 9:02pm Apr 13, 2011 9:02pm
Quoting 66trader66
LawGirl, how much emphasis do you put on the RSI direction when considering a long or short on the breakout of the H1 4C? Also, I followed you in the Geoff EA; did well until heavy loss on one trade. How do you protect yourself now from these potential disasters as you said you were participating in this EA again? Thanks for your brains; you are a great educator and creator and I appreciate everything you're doing for all of us!
Hi 66T66, I no longer use Geoff's EA, but really enjoyed it for awhile until, like you said, the heavy losses.

The H1 4C BO is a PA trade and doesn't depend strongly on the RSI direction, although as the RSI is a lagging indicator, on a strong movement in one direction or the other, it is going to "fall in line" with the momentum of the direction.

Glad you have joined us.
  • #13,894
  • Apr 13, 2011 9:07pm Apr 13, 2011 9:07pm
Quoting lawgirl21
I'm in this trade on the daily chart. Totally stalled out. But the longer the stall/consolidation, the bigger the bust out...like winding a spring or shaking a soda bottle. I'm hoping it breaks to the downside, but who knows. I have 4 trades that look exactly like this chart.
Wow...just more of the same...looking for an even bigger bust out.
Attached Image
  • #13,895
  • Apr 13, 2011 9:10pm Apr 13, 2011 9:10pm
Quoting lawgirl21
-80 pips
Now +70 pips.
Attached Image
  • #13,896
  • Apr 13, 2011 9:22pm Apr 13, 2011 9:22pm
Looks like another slow night for H1 4C BOs.
  • #13,897
  • Apr 13, 2011 11:55pm Apr 13, 2011 11:55pm
Hi Lawgirl,

I have returned from a hiatus from Forex trading and have developed an interest in your method of trading.

I see that you managed to ride out 150 pips in your recent EUR/JPY trade.

As stated in page 1 "Enter from the M15 chart, when at least one candle has completely cleared the R/S line in the desired direction. The entry takes discretion, as the quality of the candles is important to observe." I remain puzzled at the statement.

Can you please advise me how it applies to, say that particular EUR/JPY trade, in determining the entry/exit levels?

Much appreciated.

Attached Image
  • #13,898
  • Apr 14, 2011 4:04am Apr 14, 2011 4:04am
Quoting blackqn
Then we are

1) Whistlepips
2) Anthar
3) GhostMcFly
4) LearningPIPs
5) Blackqn

Proposal is as follows:

1) Platform MT4 equipped with Those scripts, RSI(3) and CustomCandle indi, and RSI arrows indi (I'm not sure if this one works properly with backtesting, so maybe it will be necessary to look at the candles and read RSI direction for higher TF from candles)

2) Start date:...
Good ideas. Could it be a good idea to present SL levels with minimum sl required and also the range of sl placed abowe/below last sving low/high. Someone just asked, if smaller SLs could be used. With TP one option would be to check TP according to consolidation levels TPCL1, TPCL2, etc. => as long as it goes if you let the position run.

IMO making transactions would make the job a lot harder, but I do them if others agree. Can you change TFs in MT 4 easily during testing? Do we also check 3 taps? As I mentioned earlier Im interested in testing GBP/USD and EUR/JPY.
  • #13,899
  • Apr 14, 2011 4:19am Apr 14, 2011 4:19am
Quoting Whistlepips
Good ideas. Could it be a good idea to present SL levels with minimum sl required and also the range of sl placed abowe/below last sving low/high. Someone just asked, if smaller SLs could be used. With TP one option would be to check TP according to consolidation levels TPCL1, TPCL2, etc. => as long as it goes if you let the position run.

IMO making transactions would make the job a lot harder, but I do them if others agree. Can you change TFs in MT 4 easily during testing? Do we also check 3 taps? As I mentioned earlier Im interested in testing...
I think that we shall focus on consolidations since there are some new ideas regarding breakouts on H4 and D1 TFs. That way we don't mix 3T with BO. What do you think? Does it make sense?
Time matters most
  • #13,900
  • Edited 5:14am Apr 14, 2011 5:04am | Edited 5:14am
Probably 3rd tap on H4 chart, D1 and H4 RSI not yet in right direction, but it seems to be just a matter of time.
Time matters most
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