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Trade What You See - Almost Naked Trading

  • #15,541
  • May 31, 2011 10:15pm May 31, 2011 10:15pm
............4H 3 Tap (but last 4 H not complete, could turn right around) + 1 H breakout, anyone aboard, you can still catch it, watch the Daily trend line UP and 100 SMA, but if it clears those, it will continue the lower highs and lower lows we have seen
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Canadian by birth Australian by choice
  • #15,542
  • May 31, 2011 10:46pm May 31, 2011 10:46pm
Quoting TheSnowman
............4H 3 Tap (but last 4 H not complete, could turn right around) + 1 H breakout, anyone aboard, you can still catch it, watch the Daily trend line UP and 100 SMA, but if it clears those, it will continue the lower highs and lower lows we have seen

Yes....looks good.
  • #15,543
  • May 31, 2011 10:47pm May 31, 2011 10:47pm
Have you ever gotten to the point where you are on such a losing streak that you hesitate instead of pull the trigger on trades?
  • #15,544
  • May 31, 2011 10:48pm May 31, 2011 10:48pm
Hello,
I have been looking at 'Almost Naked trading' for few mounths. I love the thread.
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  • #15,545
  • May 31, 2011 10:56pm May 31, 2011 10:56pm
Quoting Fitness09
Have you ever gotten to the point where you are on such a losing streak that you hesitate instead of pull the trigger on trades?
Yeah, dude, recently. Try to take a break, don't even open MT4, and then refocus, think about what you have done. I did, turned out I did many stupid things... Now refreshed, back in the saddle. Demo for a while...
  • #15,546
  • May 31, 2011 10:58pm May 31, 2011 10:58pm
Hey MoneyTree huggers.. Here is another one I just entered along with the aussie pairs.. 30 p SL...
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  • #15,547
  • May 31, 2011 10:59pm May 31, 2011 10:59pm
Quoting pippete
Yeah, dude, recently. Try to take a break, don't even open MT4, and then refocus, think about what you have done. I did, turned out I did many stupid things... Now refreshed, back in the saddle. Demo for a while...
Thanks. I will probably do that.
  • #15,548
  • May 31, 2011 11:03pm May 31, 2011 11:03pm
Although I am big fan of this naked trading, I was thinking, wouldn't it be helpful to have an indi (wait, don't stone me yet) that alerts us when the D1 and W1 arrows are in agreement? I seem to arrive a little late to some of these Daily MoneyTree - DMT - trades, because you have to constantly scan the pairs for the RSI agreements... just a thought... Maybe GSPE could tweak this a little

Or you can stone me now and I'll crawl back to the dungeons..
  • #15,549
  • May 31, 2011 11:12pm May 31, 2011 11:12pm
Quoting pippete
Although I am big fan of this naked trading, I was thinking, wouldn't it be helpful to have an indi (wait, don't stone me yet) that alerts us when the D1 and W1 arrows are in agreement? I seem to arrive a little late to some of these Daily MoneyTree - DMT - trades, because you have to constantly scan the pairs for the RSI agreements... just a thought... Maybe GSPE could tweak this a little

Or you can stone me now and I'll crawl back to the dungeons..
Lol it's funny you bring this up because I asked LG about one that would sound an alarm when the 3 RSI were in alignment for a 3 Tap.
  • #15,550
  • Jun 1, 2011 12:35am Jun 1, 2011 12:35am
Quoting pippete
Although I am big fan of this naked trading, I was thinking, wouldn't it be helpful to have an indi (wait, don't stone me yet) that alerts us when the D1 and W1 arrows are in agreement? I seem to arrive a little late to some of these Daily MoneyTree - DMT - trades, because you have to constantly scan the pairs for the RSI agreements... just a thought... Maybe GSPE could tweak this a little

Or you can stone me now and I'll crawl back to the dungeons..
Would be nice. Not that it's hard to check them every 30 minutes or so, but you might get a few more triggers. However, in general, I think the longer the triggers are present the more confident we can feel.
Enter Signature
  • #15,551
  • Jun 1, 2011 12:54am Jun 1, 2011 12:54am
Quoting TheSnowman
............4H 3 Tap (but last 4 H not complete, could turn right around) + 1 H breakout, anyone aboard, you can still catch it, watch the Daily trend line UP and 100 SMA, but if it clears those, it will continue the lower highs and lower lows we have seen
Hi friends, still learning here.
Snowman, I saw your setup. But, in my hands, for a 4H 3 Tap the weekly RSI is pointing the wrong direction.

What do you think?

http://clip2net.com/clip/m72450/1306...-clip-10kb.png

Bye

BL
πάντα δοκιμάζετε τὸ καλὸν κατέχετε
  • #15,552
  • Jun 1, 2011 1:33am Jun 1, 2011 1:33am
any idea what happened with eur / usd just now?
  • #15,553
  • Jun 1, 2011 1:47am Jun 1, 2011 1:47am
hey guys, need help about the moneytree.method! i just added a position to the one from yesterday....did i get that right that i now have to set the sl from yesterdays level to todays???? many thanks
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  • #15,554
  • Jun 1, 2011 1:54am Jun 1, 2011 1:54am
Quoting niksan
any idea what happened with eur / usd just now?
about 45 pips down in 1/2-minute....
Had to do with the economy of Greece
There`s no life before COFFEE!
  • #15,555
  • Jun 1, 2011 2:25am Jun 1, 2011 2:25am
DMT-,3TH4- and Bo-Trade dispite of Greece
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There`s no life before COFFEE!
  • #15,556
  • Jun 1, 2011 2:38am Jun 1, 2011 2:38am
Quoting jalkok
DMT-,3TH4- and Bo-Trade dispite of Greece
i will wait for the d arrow to turn deep blue, how do others handle that?
  • #15,557
  • Jun 1, 2011 2:58am Jun 1, 2011 2:58am
Quoting Tipico
i will wait for the d arrow to turn deep blue, how do others handle that?
You`re right to wait!
I`m down withn-20pips now
There`s no life before COFFEE!
  • #15,558
  • Jun 1, 2011 3:41am Jun 1, 2011 3:41am
Quoting TheSnowman
@ Rodrigo

I couldn't view the 30M chart but what I see on the 4H is -

1. Where you have horizontal line labelled "Trend A" most people call a resistance line or level

2. Looking for 3 Taps on a resistance level is a Triple Bottom

3. You need to look for the Taps on the angle trend line

Probably best to stay out of USD-CHF (long position) until it become clear or wait for a pull back to the daily down trend line or 100 SMA, then take short position and go with the trend - all while watching for 3 Taps going down
Hi Snowman,

Sorry about the chart, here it is again. My understanding of the 3 tap is that if the price makes a higher low (after a down move) we can draw a trend line which connect these 2 points. I learned that:
"Highs are defined as a level where the market ceases to rally and U-turns in the opposite direction. You can spot a high between four candles, when the two to the left and the two to the right are lower than the center wick, which is highest."
That's from "The 10 Essentials of Forex Trading" (Jarred F. Martinez)

So if I understand it correctly there should be at least 5 candles to find a new lower high necessary for the trend line. But the trend line on the H4 chart was drawn through the bottoms of 3 consecutive candles which does not look like the 3 tap to me. It looks like 3 tap on lower time frame, like on the M30 chart where we can spot the higher low (point 2 on trend line B). And the point 3 is the third tap. That's on M30 chart though. If i look on H4 chart I would draw trend line A (see H4 chart, the black trend line) and the third tap would be the tripple bottom like you say.
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  • #15,559
  • Jun 1, 2011 4:48am Jun 1, 2011 4:48am
Newbie mistake in prediction (EURCHF went sell):
Daily and Weekly RSI were up => stop loss 30 pips would solve huge minus because of the reversal,
3tap on H4 were on till Rsi went down,
H1 RSI went down first and that was the first sign to go out of buy
  • #15,560
  • Jun 1, 2011 8:34am Jun 1, 2011 8:34am
Quoting lawgirl21
The Moneytree entry is largely dependant on having a "bundle" of trades going at one time, as not all of the trades will take off. But what we are looking for is the trades that do take off totally eclipsing the ones that do not and are stopped out.

When I reported that I was up 870 total pips, that did not mean that there were no negative trades...but the negative trades and even the 2 or 3 stopped out trades didn't amount to anything and aren't even worth considering....
I get it now thanks, i am finding that almost all the 3T trades i find are also Daily moneytree trades as well.
Maybe just trade the moneytree Daily method?
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