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Trade What You See - Almost Naked Trading

  • #15,961
  • Jun 12, 2011 4:11pm Jun 12, 2011 4:11pm
Quoting truent
anyone see anything?
I am not gap trading today because I have too many open trades.
  • #15,962
  • Jun 12, 2011 4:11pm Jun 12, 2011 4:11pm
ok, here are all my open positions, round about 1300pips...will add postion if trend continues....!
  • #15,963
  • Jun 12, 2011 4:11pm Jun 12, 2011 4:11pm
here....
Attached Image (click to enlarge)
Click to Enlarge Name: u.gif Size: 64 KB
  • #15,964
  • Jun 12, 2011 4:49pm Jun 12, 2011 4:49pm
Quoting truent
anyone see anything?
can some kind soul please point me to the page where gap-trading method is explained - it doesnt appear to be on page 1 - tx in advance
  • #15,965
  • Jun 12, 2011 5:38pm Jun 12, 2011 5:38pm
Quoting dimlat
can some kind soul please point me to the page where gap-trading method is explained - it doesnt appear to be on page 1 - tx in advance
not really explained.. but if a pair is down i'd say above 20-25 pips from friday's close to sunday open at 5pm est.. i take the bet that the gap will fill.. and i usually have a 1:1 risk/reward.. so my stop on a 35 pip long would be 35 pips under where the sunday open is.. take profit would be at gap fill, or just before. others on here have wider stops, but for such a small profit, i dunno if it's worth it..

i demo'd my 1:1 strategy for maybe 20 weeks at the end of last year / beginning of this year.. and i wanna say about 18 out of those 20 weeks gaps filled.. although lately luck on getting sizable gaps hasn't been too good. but good luck!
  • #15,966
  • Jun 12, 2011 6:09pm Jun 12, 2011 6:09pm
I also am not trading gaps I have opposite positions open for a lot of the pairs.

Waiting another couple hours for MT trades.
Enter Signature
  • #15,967
  • Jun 12, 2011 6:17pm Jun 12, 2011 6:17pm
Quoting Tipico
ok, here are all my open positions, round about 1300pips...will add postion if trend continues....!

That is terrific! We worked hard to get to this point. I am a couple hundred pips behind you and looking forward to adding positions.
  • #15,968
  • Jun 12, 2011 6:30pm Jun 12, 2011 6:30pm
Quoting truent
not really explained.. but if a pair is down i'd say above 20-25 pips from friday's close to sunday open at 5pm est.. i take the bet that the gap will fill.. and i usually have a 1:1 risk/reward.. so my stop on a 35 pip long would be 35 pips under where the sunday open is.. take profit would be at gap fill, or just before. others on here have wider stops, but for such a small profit, i dunno if it's worth it..

i demo'd my 1:1 strategy for maybe 20 weeks at the end of last year / beginning of this year.. and i wanna say about 18 out of those 20...
Many thanks for this
  • #15,969
  • Jun 12, 2011 8:24pm Jun 12, 2011 8:24pm
Hi LG and other MT traders,

I'm starting to question the validity of MoneyTree triggers on Sundays (Monday trading days). Think about it this way...

Every day, we avoid taking triggers in the first 4 hours of a trading day, which is approximately 17% of the trading day. The reason we (or atleast I) avoid trading during these hours is due to false D1 RSI signals. So early in the day, the D1 RSI direction can be very unstable. Similarly, I feel we should consider skipping the first day of every week due to W1 RSI direction instability. This would be 20% of the trading week, which would be in line with the discretion we use on the Daily RSI.

What do you guys think?
Enter Signature
  • #15,970
  • Edited 8:38pm Jun 12, 2011 8:36pm | Edited 8:38pm
I see your point CC and agree that at the very least the signals on Sunday are not reliable. Just my first full week though with this system so not one to really judge. Personally I am very cautious about any trades other than Gap trades on Sunday evenings.

Currently holding just four positions as I missed a number of them on friday due to not being online at the time.
eur/cad +125
eur/usd + 184 and 132
usd/chf + 27
aud/usd +43 Total 515

Harry

Oh yeah also +37 pm eur/gbp in another account
  • #15,971
  • Jun 12, 2011 8:40pm Jun 12, 2011 8:40pm
MoneyTree and H1 BO entry
Attached Image
  • #15,972
  • Jun 12, 2011 8:50pm Jun 12, 2011 8:50pm
Quoting lawgirl21
MoneyTree and H1 BO entry
W1 on OANDA is showing neutral RSI.
  • #15,973
  • Jun 12, 2011 8:53pm Jun 12, 2011 8:53pm
Quoting JusticeFX
W1 on OANDA is showing neutral RSI.
What is the position of the actual RSI line?
  • #15,974
  • Jun 12, 2011 8:55pm Jun 12, 2011 8:55pm
Quoting lawgirl21
What is the position of the actual RSI line?
Pointing to 3 'o clock.
  • #15,975
  • Jun 12, 2011 9:03pm Jun 12, 2011 9:03pm
Quoting lawgirl21
What is the position of the actual RSI line?
Hi LG, RSI directions will show differently dependent on when the broker's trading day starts. Oanda's candles start at a different time than ours, I figured out last week.

So we will get different MT triggers when comparing to Oanda traders.
Enter Signature
  • #15,976
  • Jun 12, 2011 9:05pm Jun 12, 2011 9:05pm
Quoting JusticeFX
Pointing to 3 'o clock.
Hmmmm..The actual RSI line has move down 11 points on FXDD since June 6...from 83 to 62. Measure the actual difference from last week. Then decide whether or not to enter. Sorry...actually 21 points.
  • #15,977
  • Jun 12, 2011 9:05pm Jun 12, 2011 9:05pm
Quoting CrucialCraig
Hi LG, RSI directions will show differently dependent on when the broker's trading day starts. Oanda's candles start at a different time than ours, I figured out last week.

So we will get different MT triggers when comparing to Oanda traders.
Oh. Thanks for reply.

I'm still going to stay out of MT trades until tomorrow as per your suggestions.
  • #15,978
  • Jun 12, 2011 9:08pm Jun 12, 2011 9:08pm
Quoting JusticeFX
Oh. Thanks for reply.

I'm still going to stay out of MT trades until tomorrow as per your suggestions.
I will be skipping Sunday entries for now. I just think there are too many triggers that aren't reliable. I've seen way to many W1 RSIs change direction today.

See you guys tomorrow.
Enter Signature
  • #15,979
  • Jun 12, 2011 9:08pm Jun 12, 2011 9:08pm
Quoting lawgirl21
MoneyTree and H1 BO entry
I'm using ibFX and the trade setup is not there - but it looks good! Thanks for your strategy - having fun learning and applying it!
  • #15,980
  • Jun 12, 2011 9:09pm Jun 12, 2011 9:09pm
Quoting CrucialCraig
Hi LG, RSI directions will show differently dependent on when the broker's trading day starts. Oanda's candles start at a different time than ours, I figured out last week.

So we will get different MT triggers when comparing to Oanda traders.
Thanks, that makes sense.
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