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Trade What You See - Almost Naked Trading

  • #15,461
  • May 31, 2011 1:56am May 31, 2011 1:56am
Quoting lawgirl21
Will add a position.
On a BO trade would you only add to your position after price has cleared the channel?
  • #15,462
  • May 31, 2011 2:11am May 31, 2011 2:11am
For the daily entry you watch for the weekly and daily RSI and then are you dropping to 15m before entering to check current direction?

Sorry for all the questions

Quoting CrucialCraig
Entered long for the following pairs, due to daily entry setups and triggers (good M15 price direction).

AUDJPY
AUDUSD
EURCAD
EURUSD
EURJPY
GBPJPY

LG, please let me know if you are not in agreement on any of these trades.

Thanks! Hope everyone had a good long weekend.
  • #15,463
  • May 31, 2011 2:14am May 31, 2011 2:14am
Questions are how you learn, friend. Don't mark them as apologetic, this forum welcomes them from what I see.

Just try to sort them into one reply, not 3.
  • #15,464
  • May 31, 2011 2:28am May 31, 2011 2:28am
He LG,

I am a new in this forum and i read more than 1000 page in this forum.
this system is quite simple and understandable and thank you for attach all the chart for easily understand.

but i have some question:

Question 1: H1 breakout system: my time zone is GMT+8 and my broker time is GMT-2 so everyday new day is start at around 6 AM singapore time so can i count from that time or need to start at midnight 12 AM??

Quesiton2: same for the daily startegy problem, which time i count?

Thanks in advance.

Umesh Patel
  • #15,465
  • May 31, 2011 2:35am May 31, 2011 2:35am
First Daily trade on eurgbp how does it look?
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  • #15,466
  • May 31, 2011 4:10am May 31, 2011 4:10am
[quote=umpats;4655122]He LG,

I am a new in this forum and i read more than 1000 page in this forum.
this system is quite simple and understandable and thank you for attach all the chart for easily understand.

but i have some question:

Question 1: H1 breakout system: my time zone is GMT+8 and my broker time is GMT-2 so everyday new day is start at around 6 AM singapore time so can i count from that time or need to start at midnight 12 AM??

Quesiton2: same for the daily startegy problem, which time i count?


See below the answer I think you are looking for.....

Thanks in advance.Quote:
Originally Posted by zaqzaq


Can anybody tell me in relation to LG's 1hr 4 Candle breakout system why is it only the 1st 4 hrs of trading you take into account in your time zone? Would I be correct in thinking that any 4 hr period of consolidation would be a good setup along with Weekly, Daily and 4hr +RSI??
Thanks for the help!
The first four hours set our daily range against which we measure or judge price action. It makes us ordered (if that makes sense), by setting our boundaries. It gives us a structure or framework from which we can function. That's really all there is to it.

Yes, you are correct in thinking that any consolidation period of 4 or more candles could make a good set up. Again, that would give us a period of time from which to measure price action. It can and does work on any TF.

H1 4C is my way of finding a point of reference in a market that is in continuous motion.
  • #15,467
  • May 31, 2011 6:45am May 31, 2011 6:45am
Quoting biking320
Pippete,

I like your MT4 indicators and I've tried to find them on the web but I haven't been successful. I am referring to the ones that indicate the current pair name, time frame, spread, pip range, candle duration, and current price.

Are these indicators provided by your broker or are they available on the web?

This is my first post and I know it is not directly related to the subject of this thread, and I hope it is not inappropriate for me to ask this here. I am following this thread with interest and I do hope to start trading using...
Hey Biking,
Just got back after the long weekend, the indi I use is found at top right of page, click on the paperclip, then "block images" and it's the "Symbol Info label" indi. welcome to the tread!
  • #15,468
  • May 31, 2011 6:58am May 31, 2011 6:58am
Good morning people, let's make money today! Here is an early Aussie 1H BO action, see where it goes..
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  • #15,469
  • May 31, 2011 7:45am May 31, 2011 7:45am
just entered as a H4 3tap, hopefully it will go uuuuuuuuuuuup
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  • #15,470
  • May 31, 2011 7:58am May 31, 2011 7:58am
This one on the brink of a BO to the bottom maybe? let's see if the news will move it...
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  • #15,471
  • May 31, 2011 8:19am May 31, 2011 8:19am
Quoting bez3000
On a BO trade would you only add to your position after price has cleared the channel?
I have never added to a position on a H1 BO trade. They can certainly catch a trend, but that is not the purpose of them. Their purpose is to make 20-80 "fast" pips.
  • #15,472
  • May 31, 2011 8:26am May 31, 2011 8:26am
Quoting bez3000
Hi LG,

Loving your thread by the way, i made 100 pips on my first GU trade using this strategy.
Quick question, do you always use 30pips SL on your 3T trades?
Glad you are making pips, bez3000. The only setup that I always use a 30 pip SL is on the daily Moneytree entry.

That 30 pips is the price I am willing to pay to "probe" the direction...hoping my probe or scout will survive until the next day at about the same time. If it does survive, I will look to add a position (a branch on my Moneytree).
  • #15,473
  • May 31, 2011 8:27am May 31, 2011 8:27am
Quoting howie954
So what you are saying is that you ignore pivot points? I never heard of a system that ignores such important leading indicators as pivot points. That's kinda like packing up a picnic basket and a cooler of beer, packing a beach blanket and going to the beach on a cloudy day when weather channel forecasts thunder storms all day.
Yes, we pay no attention to pivot points here..only S/R areas.
  • #15,474
  • May 31, 2011 8:36am May 31, 2011 8:36am
Quoting bez3000
For the daily entry you watch for the weekly and daily RSI and then are you dropping to 15m before entering to check current direction?

Sorry for all the questions
No, for the daily entry, what I am gong to call the Moneytree entry, it is more simple than that. Weekly and daily in same direction. I look to quality of the candle on the daily chart, then enter or wait awhile to see if quality changes before entry.

For example: Look at the AUDJPY daily chart. I did not like the quality of the last few candles and did not enter that trade, even though weekly and daily RSIs confirmed direction. However, CC did enter. I haven't looked at the chart yet this morning to see how it did....could be that qualiy made no difference...
  • #15,475
  • May 31, 2011 8:37am May 31, 2011 8:37am
I am up a total of 870 pips on my Moneytree trades this morning.
  • #15,476
  • May 31, 2011 8:47am May 31, 2011 8:47am
Chart
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  • #15,477
  • May 31, 2011 8:48am May 31, 2011 8:48am
Chart
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  • #15,478
  • May 31, 2011 8:51am May 31, 2011 8:51am
Not one of my winning trades, but a good one if watched.
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  • #15,479
  • May 31, 2011 8:52am May 31, 2011 8:52am
Chart
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  • #15,480
  • May 31, 2011 8:55am May 31, 2011 8:55am
Entries for these last few posted charts were made with Moneytree entry, but look at the BOs.....
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