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Trade What You See - Almost Naked Trading

  • #16,281
  • Jun 21, 2011 5:01am Jun 21, 2011 5:01am
Hi Stinger,

I'm glad i found this thread/site too, especially being a novice. Some good people here, such as yourself and LG of course, and many more, who are willing to share their knowledge and experiences.

I'm trading the 1H 4C BO here too, but can't see much at the moment? E/C looks a possibility short soon? There's probably lot's of trades i can't see being new.

Happy trading.

Greg.
'Fail to plan, plan to fail'
  • #16,282
  • Jun 21, 2011 6:52am Jun 21, 2011 6:52am
Quoting lawgirl21
H1 4C BO
Hey there,

Been watching the thread intermittently for a while now, loving your work. Read about 97 pages before my brain melted. Could someone clarify for me stop placement rules/guidelines for the H1 BO?

Thanks in advance! Happy trading..
Matt
  • #16,283
  • Jun 21, 2011 7:50am Jun 21, 2011 7:50am
Ok guys, you can hate me, punch me, kick me in he nuts, i dont care, but please answer me. I am trying to summarize the H1 4C BO method.

1-The start of "A new day" is the time when the new Day Candle of our broker starts, right?

2-Say my new day candle starts at 00.00 broker time. I am checking the first 4 candles of the H1 chart, draw Highs and lows and place a Buy or Sell order depending on the RSI 3 direction of Daily and weekly and go in that direction.

3-SL is on the other side of the H/L, TP is 2X..

Did i get this?
  • #16,284
  • Jun 21, 2011 8:20am Jun 21, 2011 8:20am
Quoting The7
Ok guys, you can hate me, punch me, kick me in he nuts, i dont care, but please answer me. I am trying to summarize the H1 4C BO method.

1-The start of "A new day" is the time when the new Day Candle of our broker starts, right?

2-Say my new day candle starts at 00.00 broker time. I am checking the first 4 candles of the H1 chart, draw Highs and lows and place a Buy or Sell order depending on the RSI 3 direction of Daily and weekly and go in that direction.

3-SL is on the other side of the H/L, TP is 2X..

Did i get this?
Number 1 is correct.

Number 2 not exactly. This is a pure price action trade. There does not need to be confirmation of the daily and weekly for this trade...only for the 3 Tap and MoneyTree setups. Just follow PA and it is likely the H1 and maybe the H4 RSIs will be in confirmation. but it is not necessary for the H1 BO.

Number 3 is correct, in that SL and TP are discretionary with the trader. I have recommended reasonable S/R levels, but the other side of the H/L would work too.
  • #16,285
  • Jun 21, 2011 8:22am Jun 21, 2011 8:22am
Quoting clarkesounds
Hey there,

Been watching the thread intermittently for a while now, loving your work. Read about 97 pages before my brain melted. Could someone clarify for me stop placement rules/guidelines for the H1 BO?

Thanks in advance! Happy trading..
Matt
Hi Matt, thanks for the kind words.

Stops, as are trake profits, are discretionary with the trader, but I have suggested reasonable support/resistence levels or high/low levels as mentioned above.
  • #16,286
  • Jun 21, 2011 8:33am Jun 21, 2011 8:33am
Quoting lawgirl21
Chart
Stalling/consolidating now.
Attached Image
  • #16,287
  • Jun 21, 2011 8:36am Jun 21, 2011 8:36am
I entered on a daily chart, but a fair BO too.
Attached Image
  • #16,288
  • Jun 21, 2011 8:40am Jun 21, 2011 8:40am
A fair BO, but trading in a range for now.
Attached Image
  • #16,289
  • Jun 21, 2011 8:48am Jun 21, 2011 8:48am
EUA Z1 Carbon Emissions

Best trade this week
Attached Image
  • #16,290
  • Jun 21, 2011 8:56am Jun 21, 2011 8:56am
Quoting eltax100
EUA Z1 Carbon Emissions

Best trade this week
I've never seen EUA Z1 Carbon Emissions traded, but hey...why not. A beautiful BO!
  • #16,291
  • Jun 21, 2011 8:56am Jun 21, 2011 8:56am
Hi LG, are you always using pending order for BO?, or not, thank you
"Trade Until I Come Back" Luke
  • #16,292
  • Jun 21, 2011 8:58am Jun 21, 2011 8:58am
With the Daily Money Tree Method:
1-We confirm Daily and Weekly Rsi direction.
2-We switch to H1 charts, draw H and L of the first 4 candles of the day.
3-We enter the trade on a breakout of these H or L's, depending of the Daily and Weekly Rsi direction.
4- We use a SL of 30 pips, let the trade run till next day..

Before ordering a Ferrari, I wanted to confirm this, thanks
  • #16,293
  • Jun 21, 2011 9:15am Jun 21, 2011 9:15am
Quoting lawgirl21
A fair BO, but trading in a range for now.
Appears to be breaking out of that range now.
Attached Image (click to enlarge)
Click to Enlarge Name: new setup 1.gif Size: 15 KB
  • #16,294
  • Jun 21, 2011 10:22am Jun 21, 2011 10:22am
Quoting The7
With the Daily Money Tree Method:
1-We confirm Daily and Weekly Rsi direction.
2-We switch to H1 charts, draw H and L of the first 4 candles of the day.
3-We enter the trade on a breakout of these H or L's, depending of the Daily and Weekly Rsi direction.
4- We use a SL of 30 pips, let the trade run till next day..

Before ordering a Ferrari, I wanted to confirm this, thanks
Perfect!! Please go ahead and order your Ferrari
Fall seven times, stand up Eight! #GGMU
  • #16,295
  • Jun 21, 2011 11:12am Jun 21, 2011 11:12am
Quoting superpipo
Hi LG, are you always using pending order for BO?, or not, thank you

I never use a pending order.
  • #16,296
  • Jun 21, 2011 11:15am Jun 21, 2011 11:15am
After seeing stinger007's post from the other day, I thought I'd count my pips too. and found that I've made 302 pips since May 30th!! What a shock! My goal had been 50/week.

When I found this thread, I knew I had found my preferred trading method, but I wasn't have any success and was slowly losing my account...but a few weeks ago I limited the number of pairs that I was watching to 3 (EUR/USD, EUR/GBP, GBP/USD) from 8-16 pairs. Also I concentrated on 4C H1 breakouts and only traded 3Ts when it was ridiculously obvious.

The best part is my reduced amount of screen time! I'm spending a couple of hours looking for set ups/checking in at different times of the day instead of sitting here for 5-6 hours every morning.

So, yes, I am cautiously jumping up and down with excitement!
  • #16,297
  • Jun 21, 2011 11:18am Jun 21, 2011 11:18am
Quoting The7
With the Daily Money Tree Method:
1-We confirm Daily and Weekly Rsi direction.
2-We switch to H1 charts, draw H and L of the first 4 candles of the day.
3-We enter the trade on a breakout of these H or L's, depending of the Daily and Weekly Rsi direction.
4- We use a SL of 30 pips, let the trade run till next day..

Before ordering a Ferrari, I wanted to confirm this, thanks
Understand that a H1 4C BO trade can be just that or it can turn into a MoneyTree trade. I like to add positions on an H1 BO, but there is no reason why the initial entry can't be on a BO also. It is more conservative, but that may give us better trades.
  • #16,298
  • Jun 21, 2011 11:38am Jun 21, 2011 11:38am
Quoting LearningPIPs
After seeing stinger007's post from the other day, I thought I'd count my pips too. and found that I've made 302 pips since May 30th!! What a shock! My goal had been 50/week.

When I found this thread, I knew I had found my preferred trading method, but I wasn't have any success and was slowly losing my account...but a few weeks ago I limited the number of pairs that I was watching to 3 (EUR/USD, EUR/GBP, GBP/USD) from 8-16 pairs. Also I concentrated on 4C H1 breakouts and only traded 3Ts when it was ridiculously obvious.

The best part is my...
That is so good to hear, LP. Every trader must find their way and it certainly looks like you have found yours. I am happy I could play a part in your success.
  • #16,299
  • Jun 21, 2011 1:37pm Jun 21, 2011 1:37pm
2 days in the week. I will start trading the MT trades tomorrow
Fall seven times, stand up Eight! #GGMU
  • #16,300
  • Jun 21, 2011 2:53pm Jun 21, 2011 2:53pm
Hi everybody.
That was nice:

http://img542.imageshack.us/img542/1879/eurusd.gif
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