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Trade What You See - Almost Naked Trading

  • #15,801
  • Jun 8, 2011 9:42am Jun 8, 2011 9:42am
Thanks LG,

I like to make pts day to day and grabbing some of the bigger longer moves.

Great system

  • #15,802
  • Jun 8, 2011 10:25am Jun 8, 2011 10:25am
Quoting lawgirl21
A mix of 3 Tap, MT, and BOs is what I was hoping everyone would use, after seeing the connections between the setups. 3 Tap and BOs are a great way to add a branch too. I'm not sure how you would use 3 Taps to take profit, if the purpose is to add branches of trending pairs.
4C H1 BO's are my bread and butter. That's what I use daily.
  • #15,803
  • Jun 8, 2011 10:41am Jun 8, 2011 10:41am
Quoting jdcompute
4C H1 BO's are my bread and butter. That's what I use daily.
Me to - I Backtested loads of Pairs before picking three I use almost everyday (GBPJPY, GBPAUD, EURUSD). Been trading these live for 6 months and made around 2500 pips just using 4HR BO, some days I lose, some I win, every month has been in profit, except May -357 pips, best month belive it or not was Jan (900+pips) Only rule I use once im in the trade is to stay in untill the end of the trading day (12midnight GMT for me), and i have a Hard 200pip stop, which has only ever been hit twice.

I do take other BO and 3 Taps on other pairs, but I always trade these 3 as the base to my system, then see what others I fancy.

Not really played with Moneytree yet, i'm sticking with the above for this year, should be interesting to see the results
  • #15,804
  • Jun 8, 2011 12:10pm Jun 8, 2011 12:10pm
Possible BO
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  • #15,805
  • Jun 8, 2011 2:14pm Jun 8, 2011 2:14pm
Quoting stinger007
Me to - I Backtested loads of Pairs before picking three I use almost everyday (GBPJPY, GBPAUD, EURUSD). ...
Stinger,

great results with a large SL though. Would you please give some more details about your management
(move SL -> BE or never) and your exits (what reason using end of session to close?). Thank you.

josch
trading is war - life is simple
  • #15,806
  • Jun 8, 2011 2:22pm Jun 8, 2011 2:22pm
Rebecca,

first a lot of thanks for your work on this thread and numerous charts and examples. Ref to the last version MT I'm wondering, if you are using always 30 PIPs SL despite some pairs have very different volatility and ATR. Or do you manage this by position size?

Thank you.

josch
trading is war - life is simple
  • #15,807
  • Jun 8, 2011 2:42pm Jun 8, 2011 2:42pm
Quoting stinger007
Me to - I Backtested loads of Pairs before picking three I use almost everyday (GBPJPY, GBPAUD, EURUSD). Been trading these live for 6 months and made around 2500 pips just using 4HR BO, some days I lose, some I win, every month has been in profit, except May -357 pips, best month belive it or not was Jan (900+pips) Only rule I use once im in the trade is to stay in untill the end of the trading day (12midnight GMT for me), and i have a Hard 200pip stop, which has only ever been hit twice.

I do take other BO and 3 Taps on other pairs, but I always...
Wow! I am so impressed, stinger. It makes me very happy to hear from someone who is having great success with these systems, as I generally have not heard from traders who have been consistent over a period of time. I like your 200 pip hard stop rule, as well as staying in the trade for the entire day. That really optimizes each and every trade. Are you also entering on the M15 chart?

Great work...keep it up and keep us posted.
  • #15,808
  • Jun 8, 2011 2:51pm Jun 8, 2011 2:51pm
Quoting josch
Rebecca,

first a lot of thanks for your work on this thread and numerous charts and examples. Ref to the last version MT I'm wondering, if you are using always 30 PIPs SL despite some pairs have very different volatility and ATR. Or do you manage this by position size?

Thank you.

josch
Thirty pips is totally arbituary, josch. It could just as easily be 40 or even 200. I arrived at 30 because that is the amount I was willing to sacrifice to catch the beginning of a trend...the price to get in the game..so to speak.

Because there will often be 9-12 open trades at one time, 30 pips seemed reasonable---that's less than 3% of a 100K, 10K, or 1K account at 9 open trades and less than 4% at 12 open trades. So to answer your question, MM is also involved.
  • #15,809
  • Jun 8, 2011 3:32pm Jun 8, 2011 3:32pm
Quoting josch
Stinger,

great results with a large SL though. Would you please give some more details about your management
(move SL -> BE or never) and your exits (what reason using end of session to close?). Thank you.

josch

Hay Josch,

I like to keep my trades very simple, the only reason I use a 200 pip SL is just for the very rare times strange things happen in the markets, just look for the middle of March GBPJPY this year and you'll all rememeber that. Lucky for me I was on the right side of that huge drop, but its better to be safe than sorry. I do think that a tight SL can be the most damaging thing to a Trade, as your in and out of the market all the time

once i've placed a trade 95% of the time I will stick with it, i just find that helps my mind set when trading, as i always used to change my mind if a trade started to show a loss, only to then find it ended up going the way i thought in the first place.....We have all been there right??

some days ive had 4-5 losses in a row, but then the winners come and as i keep those BO trades running all day I get those pips when it happens

Just stick to your trading plan, note down every trade, and look at you bad trades again so you dont make the same mistake again.

Feel like ive rambled on abit, hope its helped
  • #15,810
  • Jun 8, 2011 3:38pm Jun 8, 2011 3:38pm
Thanks for the insight and please feel free to ramble on...very helpful for me.

Quoting stinger007
Hay Josch,

I like to keep my trades very simple, the only reason I use a 200 pip SL is just for the very rare times strange things happen in the markets, just look for the middle of March GBPJPY this year and you'll all rememeber that. Lucky for me I was on the right side of that huge drop, but its better to be safe than sorry. I do think that a tight SL can be the most damaging thing to a Trade, as your in and out of the market all the time

once i've placed a trade 95% of the time I will stick with it, i just find that helps my mind set when...
  • #15,811
  • Jun 8, 2011 3:39pm Jun 8, 2011 3:39pm
Quoting lawgirl21
Wow! I am so impressed, stinger. It makes me very happy to hear from someone who is having great success with these systems, as I generally have not heard from traders who have been consistent over a period of time. I like your 200 pip hard stop rule, as well as staying in the trade for the entire day. That really optimizes each and every trade. Are you also entering on the M15 chart?

Great work...keep it up and keep us posted.
Cheers Lawgirl - Followed your thred since last Oct and was hooked

Yeah i used the 15 min chart to enter, thing is somtimes the trades go the wrong way, but i just take the loss on the chin now and wait till tomorow, unless i see a class 3 Tap Best thing that help me was I log all my trades for these 3 Paris and will trade those almost everyday if they BO unless at major S/R.

Plus somtimes I place my tades and dont log in till 9pm GMT that helps alot
  • #15,812
  • Jun 8, 2011 3:39pm Jun 8, 2011 3:39pm
Thanks also Stinger great a explanation, just shows how versatile these tools are,
keep it simple I guess
  • #15,813
  • Jun 8, 2011 3:40pm Jun 8, 2011 3:40pm
Hi,

thank you both for answering. And wishing more PIPs constantly!

josch
trading is war - life is simple
  • #15,814
  • Jun 8, 2011 3:40pm Jun 8, 2011 3:40pm
Wish I was smart enough to trade the channel, just waiting for the breakout
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  • #15,815
  • Jun 8, 2011 4:57pm Jun 8, 2011 4:57pm
closed the 2 positions because of the big red daily candle, right? or stay in? thanks alot....gave me 300pips, so, not that bad.....:-)

ooh, just remember that u have also positions in that pair with MTentry, lawgirl! how do/did u manage that positions ? thx
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  • #15,816
  • Jun 8, 2011 5:19pm Jun 8, 2011 5:19pm
Quoting Tipico
closed the 2 positions because of the big red daily candle, right? or stay in? thanks alot....gave me 300pips, so, not that bad.....:-)

ooh, just remember that u have also positions in that pair with MTentry, lawgirl! how do/did u manage that positions ? thx
It is never wrong to take profits, tipico, and 300 pips is great profit. Chances are you would have watched those trades go to BE, by the candle and RSI directions.

I closed all my positions this morning for a total of around 500 pips, as I am wanting to build equity to 25-30% by the end of the month..so I am taking profits faster, maybe than I otherwise would for that reason.
  • #15,817
  • Jun 8, 2011 5:47pm Jun 8, 2011 5:47pm
:-) ok lg, thank you so far....next time ill try another way and then ill see what im going to do in the long run
happy pips@all
  • #15,818
  • Jun 8, 2011 8:01pm Jun 8, 2011 8:01pm
Hi all,

First branch of AUDNZD broke off, but I added another tonight and took half my profits off the stump. AUDJPY was looking good but is headed back around BE.

Jumped in NZDUSD long due to a nice looking trigger. Come on NZD, I need you to rally!
Enter Signature
  • #15,819
  • Jun 8, 2011 8:27pm Jun 8, 2011 8:27pm
Quoting CrucialCraig
Hi all,

First branch of AUDNZD broke off, but I added another tonight and took half my profits off the stump. AUDJPY was looking good but is headed back around BE.

Jumped in NZDUSD long due to a nice looking trigger. Come on NZD, I need you to rally!
New branch broke off already. NZDUSD headed for SL
Enter Signature
  • #15,820
  • Jun 8, 2011 8:33pm Jun 8, 2011 8:33pm
Added another branch to AUDNZD.

Also jumped in on EURAUD.

Serious movement minutes ago, hopefully it's not a fake out.
Enter Signature
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