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Trade What You See - Almost Naked Trading

  • #15,021
  • May 18, 2011 10:52am May 18, 2011 10:52am
Quoting goldenequity
I'm back in (again) btw.... looks bullish

http://img691.imageshack.us/img691/1108/gbpyk.png
But just short term to me. Retrace, then continuing down on the H1 chart.
Attached Image
  • #15,022
  • May 18, 2011 10:53am May 18, 2011 10:53am
Quoting lawgirl21
In commemoration of reaching 1000 pages and while waiting for the paint dryingly boring monthly chart trades, I have been working on a new entry on the daily charts that seems to be working very well. It is quite simple.

1. There must be directional confirmation on both the weekly and daily RSI. If monthly also, the better, but not necessary.

2. Enter in the direction of the RSI within the first few hours of the beginning of your new daily candle (whatever time of day that is for you), say within the...
I will try it this afternoon... so... Asian session right?
(paint dryingly boring lol)
"You Never Know.....Until You Find Out."
  • #15,023
  • May 18, 2011 10:54am May 18, 2011 10:54am
im watchign GBPUSD closely,
preying on a ZC trade, which i think is forming, hoping a bearish candle will confirm it
  • #15,024
  • May 18, 2011 10:54am May 18, 2011 10:54am
Quoting lawgirl21
But just short term to me. Retrace, then continuing down on the H1 chart.
YES! (absolutely... the pair is VERY bearish)
"You Never Know.....Until You Find Out."
  • #15,025
  • May 18, 2011 10:55am May 18, 2011 10:55am
What a great group of traders. I like the blend between long term and short term trading. They both work it's just a matter of style. Congrats LG on your 1000 page tread I'll be here at the 10k break too!
  • #15,026
  • May 18, 2011 10:59am May 18, 2011 10:59am
Quoting goldenequity
I will try it this afternoon... so... Asian session right?
(paint dryingly boring lol)
Yes, Asian session. It is a fun setup with defined risk.
  • #15,027
  • May 18, 2011 11:01am May 18, 2011 11:01am
Quoting gasservettes
What a great group of traders. I like the blend between long term and short term trading. They both work it's just a matter of style. Congrats LG on your 1000 page tread I'll be here at the 10k break too!

Thanks. I like the blend too. GE is really helping extract those shorter term often countertrend pips that those of us in longer term trades cannot do.
  • #15,028
  • May 18, 2011 11:03am May 18, 2011 11:03am
Quoting vany
im watchign GBPUSD closely,
preying on a ZC trade, which i think is forming, hoping a bearish candle will confirm it
It is likely to happen, may take another few candles though.
  • #15,029
  • May 18, 2011 11:30am May 18, 2011 11:30am
Price stalling so I'm getting out at +14. Never let a winner turn into a loser :-)
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  • #15,030
  • May 18, 2011 11:38am May 18, 2011 11:38am
Quoting jdcompute
Price stalling so I'm getting out at +14. Never let a winner turn into a loser :-)
yup.... it's getting late.
anyone playing a counter trend should (already)
have their stops set to BE...
take a break, go do something else.
"You Never Know.....Until You Find Out."
  • #15,031
  • May 18, 2011 11:40am May 18, 2011 11:40am
Quoting lawgirl21
In commemoration of reaching 1000 pages and while waiting for the paint dryingly boring monthly chart trades, I have been working on a new entry on the daily charts that seems to be working very well. It is quite simple.

Thanks a lot for this thread and the methods. Would you mind adding this to the first posting?

Thanks and all the best

Forex37
  • #15,032
  • May 18, 2011 11:46am May 18, 2011 11:46am
Quoting Forex37
Thanks a lot for this thread and the methods. Would you mind adding this to the first posting?

Thanks and all the best

Forex37
That's a good idea. I will. Thanks for the kind words.
  • #15,033
  • May 18, 2011 11:51am May 18, 2011 11:51am
Quoting Forex37
Thanks a lot for this thread and the methods. Would you mind adding this to the first posting?

Thanks and all the best

Forex37
Done! on page 1.
  • #15,034
  • May 18, 2011 2:27pm May 18, 2011 2:27pm
Lawgirl, I ended up getting in later on this BO trade. Closed for +30.
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  • #15,035
  • May 18, 2011 2:41pm May 18, 2011 2:41pm
Quoting jdcompute
Lawgirl, I ended up getting in later on this BO trade. Closed for +30.
Great job! The RSIs are looking so good on this pair that you might want to try out the new daily trade entry at the start of the new daily cande.
  • #15,036
  • Edited 6:38pm May 18, 2011 6:19pm | Edited 6:38pm
Quoting lawgirl21
1. There must be directional confirmation on both the weekly and daily RSI. If monthly also, the better, but not necessary.

2. Enter in the direction of the RSI within the first few hours of the beginning of your new daily candle (whatever time of day that is for you), say within the first 6 hours (although 6 is arbitrary). The point is, we are trying to capture as much of the full day as is possible.

3. Immediately place a 30 pip SL. Then forget about it.

5. Next day at around the same time...
First report:
Time: 8:00am Tokoyo / 23:00 GMT/UTC / 7:00pm New York / 11:00pm London
My brkr is GMT-2

Checked through 26 pairs...
first impression... too early for any direction... all (except EURAUD)
had FLAT daily RSI's.

Placed a Long trade on the EURAUD @ 1.3414 (6 pip spread)
at the time, both Weekly/Daily RSI's matched

My current time is 4:00pm Pacific

http://img717.imageshack.us/img717/6894/euraud.png

yeah... more like this

http://img189.imageshack.us/img189/9458/euraudk.png
"You Never Know.....Until You Find Out."
  • #15,037
  • May 18, 2011 6:37pm May 18, 2011 6:37pm
Quoting goldenequity
First report:
Time: 8:00am Tokoyo / 23:00 UTC / 7:00pm New York / 11:00pm London

Checked through 26 pairs...
first impression... too early for any direction... all (except EURAUD)
had FLAT daily RSI's.

Placed a Long trade on the EURAUD @ 1.3414 (6 pip spread)
at the time, both Weekly/Daily RSI's matched

My current time is 4:00pm Pacific

http://img717.imageshack.us/img717/6894/euraud.png...
I'm in the same time zone as you and it is too early for most pairs. Except EURUSD long and AUDUSD long. EURAUD should be fine. Make sure you are looking at PA on the daily.
  • #15,038
  • May 18, 2011 6:39pm May 18, 2011 6:39pm
Quoting lawgirl21
Great job! The RSIs are looking so good on this pair that you might want to try out the new daily trade entry at the start of the new daily cande.
..was already planning on giving it a try :-)
  • #15,039
  • May 18, 2011 6:45pm May 18, 2011 6:45pm
oops... forgot the stop...
@ 1.3384

http://img39.imageshack.us/img39/6894/euraud.png

Quoting lawgirl21
I'm in the same time zone as you and it is too early for most pairs. Except EURUSD long and AUDUSD long. EURAUD should be fine. Make sure you are looking at PA on the daily.

Yeah... that makes sense... will try again in a few hours.
I go to bed at 7:30pm most trade nights... up at midnight thirty.
"You Never Know.....Until You Find Out."
  • #15,040
  • May 18, 2011 6:45pm May 18, 2011 6:45pm
I justed checked status on these two trades from yesterday to determine my next move.

EURGBP was up around 65 pips and looked good to continue. I took half my profits on that trade and moved my stop to BE. I then added another full position with a 30 SL.

EURAUD was down 10 pips so I didn't do anything with that pair, just letting it ride. I will check it later to see if there is any change.
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