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Trade What You See - Almost Naked Trading

  • #15,861
  • Jun 9, 2011 3:55pm Jun 9, 2011 3:55pm
Quoting airbeat
So far this week on the MT trades I have had twelve losers two winners and one break even. Down 225 pips presently. Hope its just one of those weeks that as LG pointed out we need to look at a longer term results. Thats what demo is all about. At least I don't feel in this alone....

How is everyone else doing this week on MT?

May be too early for me to start moving my SL back. Think I will stick with it for a month anyhow and check the results then as to what would have worked with say a 50 or 100 pip SL.

Thoughts? Suggestions?
Similiar to others ive had several losing MT trades earlier in the week but have several branches now on shorting audcad and audnzd over the past few days and they are currently doing very well

Observation on 30 pip stop loss - i am looking at my trades that get stopped out on 30 pip SL and then working out by the end of that daily candle how many more pips on the SL would have been required to stay in the trade. I am going to log this for each stopped out trade and build up a picture on the currency pairs over time to see if I can gauge a more effective SL per pair
  • #15,862
  • Jun 9, 2011 4:16pm Jun 9, 2011 4:16pm
Quoting JusticeFX
Ah, thank you for explaining. Still wondering what the period separators are for though.

Hi JusticeFx

I use the period seperators to get a quick visual representation of where the first hourly candle of my brokers day appears. This is in general is useful when looking back over timeframes and in particuliar useful for the BO trade from what I can see looking at the charts members are posting for that strategy.
  • #15,863
  • Jun 9, 2011 4:22pm Jun 9, 2011 4:22pm
Quoting fitzdan
Similiar to others ive had several losing MT trades earlier in the week but have several branches now on shorting audcad and audnzd over the past few days and they are currently doing very well

Observation on 30 pip stop loss - i am looking at my trades that get stopped out on 30 pip SL and then working out by the end of that daily candle how many more pips on the SL would have been required to stay in the trade. I am going to log this for each stopped out trade and build up a picture on the currency pairs over time to see if I can gauge a more...
Fitzdan, that's great to hear. Let us know your results. I can almost guarantee better results if we put a little analytical thinking into the stops we select.

Just to throw it out there, I'm going to be toying with using other levels such as top of current candles, last high/low, S/R levels etc. I'll let everyone know if I come up with anything I believe to be a good idea.
Enter Signature
  • #15,864
  • Jun 9, 2011 5:02pm Jun 9, 2011 5:02pm
i have a question about the rsi value 3:

Short time after the daily close the arrows are going nuts and turning neutral / sideways.

Maybe is it a good idea, to wait for certain (4-8 hours) time, before the arrows found direction ?
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  • #15,865
  • Jun 9, 2011 5:11pm Jun 9, 2011 5:11pm
It's good to see all the good back and forth discussions going on now.

I am hoping that you all are not giving up on the MT trades. The market is not trending right now, so that is the main difficulty. But, sooner or later it will and it will be so worth it if we catch a 1000 or so pip move with multiple branches...the results could be almost beyond imagination.

Please demo this for at least a month and don't get discouraged if day to day or even week to week the probes are "shot down". Remember, they are our "buy in" cost...the price we pay for the potential of great gain... and we should adjust our MM accordingly.

Keep the faith...
  • #15,866
  • Jun 9, 2011 5:20pm Jun 9, 2011 5:20pm
Not giving up at all. I planned on going demo for at least a month or more if necessary untill finding it profitable. Thanks LG

I have bounced around with too many systems and just never stuck with any of them. I know you have been here a while and would not still be here if your trading was not the success it is. I'm here for the duration.

Besides, your a nice person. I like it here.
  • #15,867
  • Jun 9, 2011 5:37pm Jun 9, 2011 5:37pm
Quoting lawgirl21
It's good to see all the good back and forth discussions going on now.

I am hoping that you all are not giving up on the MT trades. The market is not trending right now, so that is the main difficulty. But, sooner or later it will and it will be so worth it if we catch a 1000 or so pip move with multiple branches...the results could be almost beyond imagination.

Please demo this for at least a month and don't get discouraged if day to day or even week to week the probes are "shot down". Remember, they are our "buy in" cost...the price we...
I'll back LG up on this. Regardless of my bad run this week, I am still up 11.5 % in 2 weeks, risking just 1% per trade.

Let's stay positive, keep our eyes on the prize (a big long trending run on multiple pairs)
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  • #15,868
  • Jun 9, 2011 5:50pm Jun 9, 2011 5:50pm
Quoting peaches
i have a question about the rsi value 3:

Short time after the daily close the arrows are going nuts and turning neutral / sideways.

Maybe is it a good idea, to wait for certain (4-8 hours) time, before the arrows found direction ?
The arrows do go nuts after almost every time period change, so yes, they need time to find their way after the daily close/open.

I have been tracking the monthly RSI for the past 3 or so months and have noticed that it takes 8-10 trading days into the new month for the RSI to settle into a position. Then after about the third week into the month, if the arrows are either red or green, they seldom change..sort of like that big ocean liner turning around....its hard to do. If the arrows are neutral, then they can go either way. I think the implications are significant for monthly trades...although I haven't had the time to exactly work out the implications.
  • #15,869
  • Jun 9, 2011 6:26pm Jun 9, 2011 6:26pm
having lurked for a long time - thanks LG for an amazing thread, a few MT trades recently that stopped out, about to enter CHFJPY short - just waiting for 15m trigger - anyone else watching this one??
  • #15,870
  • Jun 9, 2011 6:48pm Jun 9, 2011 6:48pm
Quoting dimlat
having lurked for a long time - thanks LG for an amazing thread, a few MT trades recently that stopped out, about to enter CHFJPY short - just waiting for 15m trigger - anyone else watching this one??
D1 RSI is pointing to 3 o clock for my broker.
Enter Signature
  • #15,871
  • Jun 9, 2011 6:52pm Jun 9, 2011 6:52pm
mine (alpari uk) definitely 6 0clock!
  • #15,872
  • Jun 9, 2011 7:01pm Jun 9, 2011 7:01pm
CHFJPY is pointed downwards on D1 RSI for me as well. I'm using OANDA as a broker.
  • #15,873
  • Jun 9, 2011 8:27pm Jun 9, 2011 8:27pm
Looking to short GPB/JPY with H4 3T, but I'm not liking M5/M15 PA at the moment.
  • #15,874
  • Jun 9, 2011 8:43pm Jun 9, 2011 8:43pm
Quoting JusticeFX
Looking to short GPB/JPY with H4 3T, but I'm not liking M5/M15 PA at the moment.
BO is squirrelly, too.
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  • #15,875
  • Jun 9, 2011 8:45pm Jun 9, 2011 8:45pm
On BO watch list.
  • #15,876
  • Jun 9, 2011 8:50pm Jun 9, 2011 8:50pm
Chart
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  • #15,877
  • Jun 9, 2011 8:52pm Jun 9, 2011 8:52pm
Chart
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  • #15,878
  • Jun 9, 2011 9:04pm Jun 9, 2011 9:04pm
In on BO, MT, and probably 3 Tap also...
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  • #15,879
  • Jun 9, 2011 9:06pm Jun 9, 2011 9:06pm
Quoting lawgirl21
In on BO, MT, and probably 3 Tap also...
Yes, a 3 Tap too.
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  • #15,880
  • Jun 9, 2011 9:42pm Jun 9, 2011 9:42pm
Here we go again!

GBPJPY
AUDJPY
CHFJPY

Come on, Yen! It's Rally time! Get on that Bull!
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