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Trade What You See - Almost Naked Trading

  • #15,481
  • May 31, 2011 8:57am May 31, 2011 8:57am
Same here. The Moneytree entry seems to catch the move before the BO occurs.
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  • #15,482
  • May 31, 2011 8:59am May 31, 2011 8:59am
But, Moneytree doesn't always occur before the BO..as here.
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  • #15,483
  • May 31, 2011 9:00am May 31, 2011 9:00am
This pair was totally off my radar. Hope some of you caught it. Beautiful!
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  • #15,484
  • May 31, 2011 9:02am May 31, 2011 9:02am
I have two positions in this pair.
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  • #15,485
  • May 31, 2011 9:04am May 31, 2011 9:04am
Chart
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  • #15,486
  • May 31, 2011 9:15am May 31, 2011 9:15am
Hey LG, I really like the daily method you've been testing lately. Just got back after the long holiday, and I'm gonna demo it for a while. James Dicks describes something like this in his book, and the "Equity Millipede" thread kinda also is based on building several legs over wks, even months, that was one of the first threads that got me into serious trading..
I'm with you on this, and will keep posting results as we go.
  • #15,487
  • May 31, 2011 9:35am May 31, 2011 9:35am
He , LG

I want to say thank you .

just today i tried my first trade with this 3T system and won +70 pips.

Attached is my trade.

very happy won in first trade.

thank you very much LG.

Regards,

Umesh Patel
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  • #15,488
  • May 31, 2011 9:36am May 31, 2011 9:36am
Quoting pippete
Hey LG, I really like the daily method you've been testing lately. Just got back after the long holiday, and I'm gonna demo it for a while. James Dicks describes something like this in his book, and the "Equity Millipede" thread kinda also is based on building several legs over wks, even months, that was one of the first threads that got me into serious trading..
I'm with you on this, and will keep posting results as we go.
I really like it too. I will look up the James Dicks book, don't know it, but I love to read trading books. I do know Equity Millipede and like that thread very much, but the idea came to me through Jesse Livermore..who traded this way more than a hundred years ago. Nothing new under the sun.

I will demo it another month, then put it to work on a live account. It incorporates all that we have been doing, yet kicks it up a notch for much higher potential with little added risk.
  • #15,489
  • May 31, 2011 9:36am May 31, 2011 9:36am
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.
Hi, this is base on daily = weekly direction right?
  • #15,490
  • May 31, 2011 9:38am May 31, 2011 9:38am
Quoting umpats
He , LG

I want to say thank you .

just today i tried my first trade with this 3T system and won +70 pips.

Attached is my trade.

very happy won in first trade.

thank you very much LG.

Regards,

Umesh Patel
So happy you had success so quickly, Umesh. They won't all be that way, but it's a great way to start out.
  • #15,491
  • May 31, 2011 9:39am May 31, 2011 9:39am
Quoting GeraldFX
Hi, this is base on daily = weekly direction right?
Correct.
  • #15,492
  • May 31, 2011 9:50am May 31, 2011 9:50am
Moneytree trade hit SL. I am going to reenter however as conditions still favor a long posiiton. I am not sure if reentries are a good idea, but will try it anyway.
  • #15,493
  • May 31, 2011 9:58am May 31, 2011 9:58am
...is about to hit BE. I took half off the table earlier and moved other half to BE. If conditions are right, may reenter on the next daily candle, but will not reenter as I did on EURUSD because of the quality of the current candle.
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  • #15,494
  • May 31, 2011 10:21am May 31, 2011 10:21am
Finally happening...
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  • #15,495
  • May 31, 2011 10:29am May 31, 2011 10:29am
Quoting pippete
Finally happening...
Yes, indeed.
  • #15,496
  • May 31, 2011 10:40am May 31, 2011 10:40am
Quoting lawgirl21
I am up a total of 870 pips on my Money tree trades this morning.
WOW is that 870 so far with the money tree strategy or just this mornings trading? Either way WOW thats incredible.

How many positions did you have on?

So trading the money tree consists of placing a trade in the direction of the weekly and daily RSI with a 30pip SL as long as the candle looks good and doesn't have a long wick? Am i close?

Thanks again for your help with my earlier posts LG
  • #15,497
  • May 31, 2011 10:51am May 31, 2011 10:51am
Quoting Tipico
just entered as a H4 3tap, hopefully it will go uuuuuuuuuuuup

Why is this a H4 3 tap? I don't understand .
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  • #15,498
  • May 31, 2011 11:15am May 31, 2011 11:15am
Quoting Rodrigo
Why is this a H4 3 tap? I don't understand .
You're right, it is a H4 4 Tap, or maybe 3.5 Tap ? What is it that you do see?

I see the bottom of the candle "tapping" the trend line, and the RSI arrows (top right) are pretty much pointing UP, that about all there is to it.

He has entered at break of top of last candle, I believe, London just closed so results may not be known until tomorrow
Canadian by birth Australian by choice
  • #15,499
  • May 31, 2011 11:31am May 31, 2011 11:31am
Quoting bez3000
WOW is that 870 so far with the money tree strategy or just this mornings trading? Either way WOW thats incredible.

How many positions did you have on?

So trading the money tree consists of placing a trade in the direction of the weekly and daily RSI with a 30pip SL as long as the candle looks good and doesn't have a long wick? Am i close?

Thanks again for your help with my earlier posts LG
The 870 pips were Sunday, Monday and Tuesday morning (for me) trades. So..so far this week.

I have 12 open trades at the moment.

You got it...that's all there is to setup and trigger. I don't like long wicks and short bodies because that says "indecision", and I don't want to see the daily candle in the midst of consolidation. I am attempting to start a Moneytree, to which many branches can be added and I am willing to forfeit 30 pips for that attempt.

I have taken alot of that unrealized gain off the table and made it realized...on demo though at this time.
  • #15,500
  • May 31, 2011 11:42am May 31, 2011 11:42am
Hi LG,

I woke up this morning to losses instead profits on my MoneyTree entries. A shame, as I saw your post about being +870 pips!! Nice Job

I was up 16% last night before bed, now I'm only up 8%, and I think a major reason is I haven't closed any positions fully, as we don't have a solid exit strategy. Now these winning trades may just be retracing before heading in the same direction, but I want to address it before we find out the hard way! It would be very painful to have a position up 240 pips to see it retrace back to BE.

Please see my post http://www.forexfactory.com/showthre...19#post4654919 when you have a minute. Thanks LG!

-CC
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