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Trade What You See - Almost Naked Trading

  • #14,901
  • May 16, 2011 8:42am May 16, 2011 8:42am
Quoting goldenequity
morning all!
3-4 taps on the H4...
here's my road map on the cable.

http://img859.imageshack.us/img859/3650/gbp.png

http://img824.imageshack.us/img824/2928/gbpm.png
I still have 3 open short trades on the cable, so am hoping the monthly has more room to travel. But there's countertrend pips to be had too. If I could hedge, I would probably be looking for them.
  • #14,902
  • May 16, 2011 8:46am May 16, 2011 8:46am
Quoting lawgirl21
I as going to add to my short position on this pair, but fell asleep.
Took +8 on the BO last night, know you don't follow the news, but Bernanke's comments may be setting up a Z trade for us
Attached Image (click to enlarge)
Click to Enlarge Name: nzdusd.gif Size: 17 KB
  • #14,903
  • May 16, 2011 8:53am May 16, 2011 8:53am
Quoting lawgirl21
I still have 3 open short trades on the cable, so am hoping the monthly has more room to travel. But there's countertrend pips to be had too. If I could hedge, I would probably be looking for them.
Ridiculous isn't it... you're American
so... you can't hedge!! wtf???????? (sorry)
anyway... hang on to those shorts...
it's going to stay choppy today anyway (imo)

http://img811.imageshack.us/img811/7939/gbpu.png

I love how you cherry pick the currencies.... you always get what's on sale! lol
cheers,
G.
"You Never Know.....Until You Find Out."
  • #14,904
  • May 16, 2011 8:53am May 16, 2011 8:53am
H4 4C BO with weekly and daily RSIs confirmation.
Attached Image
  • #14,905
  • May 16, 2011 8:56am May 16, 2011 8:56am
Same here..H4 4C BO with confirmation on daily and weekly RSIs
Attached Image
  • #14,906
  • May 16, 2011 9:08am May 16, 2011 9:08am
Quoting lawgirl21
Same here..H4 4C BO with confirmation on daily and weekly RSIs
These are more conservative than H1 BOs. I know a very successful trader who only trades H4 BOs...calls them his bread and butter.
  • #14,907
  • Edited 11:29am May 16, 2011 10:10am | Edited 11:29am
Quoting Platypus
►What if the market keeps going up?

►Will you keep adding each time you see what "looks like" a perfect top?

►Remember that "the market can stay insane longer than you can stay solvent"

►It is not hard to find traders that can make pips,
the hard thing to find is traders willing to admit that they are wrong.
Yes.

What 'guards' you against this dilemma....
obviously, is to watch price action after your entry....
constantly.... using 5/15/1hr and 'weighting' the 5/15/1hr candle formations
against one another
to 'judge' your entry continuously until
you begin to 'feel' the market start to 'carry' you.

Lawgirl's 'relaxed' way of trading
is wisely using the longer term perspective
to 'decide' on a direction.. before any entry....
but she definitely uses/watches the PA
and probably employs a quick exit on occasion
with bad/early PA when she sees it.

Think of it like a first date.... you're NOT MARRIED. (yet)

►Whatever system you adopted, you have to have a point
where you say "ok, I'm wrong and I don't want to stay in this trade anymore".
absolutely!
Sound advice Platypus.
"You Never Know.....Until You Find Out."
  • #14,908
  • May 16, 2011 10:12am May 16, 2011 10:12am
First target hit.... watching PA closely now...

http://img543.imageshack.us/img543/3650/gbp.png

out!

http://img863.imageshack.us/img863/3650/gbp.png
"You Never Know.....Until You Find Out."
  • #14,909
  • May 16, 2011 11:06am May 16, 2011 11:06am
Quoting lawgirl21
H4 4C BO with weekly and daily RSIs confirmation.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd.gif Size: 10 KB


Looks like this could be on its way up, but the monthly RSI is showing down, would you still look at this as a possable trade?

4H BO's are quite interesting to look at, some really good weeks of profit to be made if your willing to ride out the bumps

First time ive posted a screenshot so lets hope it works
  • #14,910
  • May 16, 2011 11:28am May 16, 2011 11:28am
XAGUSD is consolidating and awaiting a breakout, this should be a rather significant breakout, =)

Trade with caution, catch those pips XD
Attached Image
  • #14,911
  • May 16, 2011 11:41am May 16, 2011 11:41am
This is the Weekly chart for XAGUSD
seems that the bears have gone tired, and the H1 adn H4 is consolidating,
wil it be a bullish breakout??? i wonder...
Attached Image (click to enlarge)
Click to Enlarge Name: Untitled.jpg Size: 237 KB
  • #14,912
  • May 16, 2011 12:07pm May 16, 2011 12:07pm
Quoting stinger007
Attachment

Looks like this could be on its way up, but the monthly RSI is showing down, would you still look at this as a possable trade?

4H BO's are quite interesting to look at, some really good weeks of profit to be made if your willing to ride out the bumps

First time ive posted a screenshot so lets hope it works
Yes, look at goldenequity's posts above. He is taking these long trades. I am not, as I have short positions that I have been in since the beginning of May and will ride out as long as the monthly direction is still down and/or until my BE stops are hit.

I have already taken around 500 pips from shorting GU this month, and if I were allowed to hedge, it would likely have been more. But unless you are short on a monthly chart (and aren't legally allowed to hedge), you should consider taking long positions with BOs and 3 Taps.
  • #14,913
  • May 16, 2011 12:29pm May 16, 2011 12:29pm
Both 4hr/1hr trendlines seem to be holding and trapping the PA
so I'm now short (again)
and will probably hold into the Asian session now
to test the 2 lower supports (again)...

http://img51.imageshack.us/img51/598/gbpo.png

I will look for (another) test of the upper resistance trendline (again)
during the European session... I've got 2 trendlines that may be tested
before resuming the weekly/monthly short.
I think you will have another opportunity to add to your LT position(s) tonight (if your up )
"You Never Know.....Until You Find Out."
  • #14,914
  • May 16, 2011 1:30pm May 16, 2011 1:30pm
Took opportunity to add positions/will hold to Asian.

http://img683.imageshack.us/img683/598/gbpo.png
"You Never Know.....Until You Find Out."
  • #14,915
  • May 16, 2011 2:55pm May 16, 2011 2:55pm
The 3 support levels to be tested

http://img821.imageshack.us/img821/5928/gbpf.png
"You Never Know.....Until You Find Out."
  • #14,916
  • May 16, 2011 2:56pm May 16, 2011 2:56pm
I closed this one out for a loss of -37. I close once price closes back inside of the range.
Attached Image
  • #14,917
  • May 16, 2011 3:05pm May 16, 2011 3:05pm
Quoting jdcompute
I closed this one out for a loss of -37. I close once price closes back inside of the range.
I will post my failures/losses as well. I promise.
"You Never Know.....Until You Find Out."
  • #14,918
  • May 16, 2011 3:12pm May 16, 2011 3:12pm
Started move down after consolidation
Time matters most
  • #14,919
  • May 16, 2011 3:14pm May 16, 2011 3:14pm
A couple hours from now... this is where I will look for
an exit...
to watch the price action...
and look for any sign of respecting/violating the resistance,
and creating another 'tap' on the 4H.

http://img683.imageshack.us/img683/5928/gbpf.png
"You Never Know.....Until You Find Out."
  • #14,920
  • May 16, 2011 3:30pm May 16, 2011 3:30pm
Quoting blackqn
Started move down after consolidation
Also a 3 Tap H4, but not enough confirmation on RSIs yet to enter on the H4 chart.
Attached Image
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