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Trade What You See - Almost Naked Trading

  • #16,341
  • Jun 22, 2011 8:17am Jun 22, 2011 8:17am
Same here...BO opening hour of London session
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  • #16,342
  • Jun 22, 2011 8:20am Jun 22, 2011 8:20am
Chart
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  • #16,343
  • Jun 22, 2011 8:29am Jun 22, 2011 8:29am
Quoting bobby2
Presently I'm short usdchf ( active) and short usdjpy (pending).
I'm long nzdusd (active)
All H1 charts.
I have S/L at support and/or resistance.
At the present time, the RSI indicators agree/confirm
Those all look like solid trades. USDJPY may be a little late, but may still have some run in it.
  • #16,344
  • Jun 22, 2011 8:37am Jun 22, 2011 8:37am
Quoting ovyeh
Story of a successful trader
I would agree with guitarbloke, add those other things....especially charity...and that is perfect, ovyeh.
  • #16,345
  • Jun 22, 2011 8:43am Jun 22, 2011 8:43am
Quoting Guitarbloke
You betcha Bobby.

I really don't see why i can't be making a consistent income from fx in 12 months time after getting my feet wet with the good folk here, and studying Price action. Demo trading for awhile yet, and loving it.

Best wishes to you. G.
Thank you. And best wishes to you too. Yes, there are many good folks here. C'mon in, the water's fine
  • #16,346
  • Jun 22, 2011 9:12am Jun 22, 2011 9:12am
I have a new computer so unable to post charts just yet. I am currently taking the weak usd positions.

Long: aud/usd and nzd/usd
Short: usd/chf

SL and TP targets set and I'm off to the gym to take care of my other investment, My health! Good pips everyone. Looks like a good week for it.
  • #16,347
  • Jun 22, 2011 10:06am Jun 22, 2011 10:06am
Well, that might've been a lesson to me. After taking 26 pips from this pair, i went in on it again short, and almost straight away, it's headed up. I'm still in, but -25 pips. I think i got too greedy! lol. Will leave trade open overnight with a 50 pip S/L and 50 pip T/P, as it's my bedtime here now.

I don't know if i was just lucky today, but my win rate was around 9 out of 12 ish. I just stuck to the 1H 4C BO rules as i understand them, went with the trend as i understood it, and tried to avoid small bodies/long wicks. I'm sure my chart reading/feel will only get better.

So g'night from me folk's, and happy trading.
'Fail to plan, plan to fail'
  • #16,348
  • Jun 22, 2011 10:08am Jun 22, 2011 10:08am
Like a junior, I have a question becase of the RSI Signal:

1) Is down in for example H1 only when the RSI is going down and below 50?

2) What ist the RSI doing when the signl is rosa and the direction south east?

3) What when to East and Yellow?

Please excuse my bad english.
  • #16,349
  • Jun 22, 2011 10:32am Jun 22, 2011 10:32am
Quoting lawgirl21
Those all look like solid trades. USDJPY may be a little late, but may still have some run in it.
Presently:

Long:
audusd
eurjpy
audusd
audjpy
nzdusd
nzdjpy

All pairs are profitable except for the nzd pairs. But the trend is up and the loss isn't so bad (yet). So, I'll stay. I'll be honest. I feel about the nzd pairs the same as I do about the chf pairs. Lately, i don't think the're worth my time. Very low volume. Once in a while they kick. But are they worth following?
  • #16,350
  • Jun 22, 2011 11:10am Jun 22, 2011 11:10am
For some traders, there are currencies that are intimidating. For me , it's the gbp. Trading it scares me to death. Every time trade it, it seems to just rape my acount, whipsawing around. Very scary sometimes. That being said, if there is a currency pair that yo have no confidence, get out.

Remember: Above All Else---Protect ypur account
Above all else---protect your acount.
  • #16,351
  • Jun 22, 2011 11:19am Jun 22, 2011 11:19am
LG:

I also live in PST zone. Lot of BO (per your charts) happens during London session when we are sleeping. How do we catch those unless we have a pending order in both side? But that will bring lot of drawdown also in choppy market. How do you get those?

Thanks,

FX_California
Quoting lawgirl21
Same here...BO opening hour of London session
  • #16,352
  • Jun 22, 2011 12:39pm Jun 22, 2011 12:39pm
Quoting bobby2
For some traders, there are currencies that are intimidating. For me , it's the gbp. Trading it scares me to death. Every time trade it, it seems to just rape my acount, whipsawing around. Very scary sometimes. That being said, if there is a currency pair that yo have no confidence, get out.

Remember: Above All Else---Protect ypur account
Above all else---protect your acount.
GBP is extremely volatile. It seems like it fluctuates more and stronger than any other currency. Not sure why.

I also don't like GBP pairs because of this.
Enter Signature
  • #16,353
  • Jun 22, 2011 12:43pm Jun 22, 2011 12:43pm
Quoting CrucialCraig
GBP is extremely volatile. It seems like it fluctuates more and stronger than any other currency. Not sure why.

I also don't like GBP pairs because of this.
Have you guys thought about using some type of FILTER for the trades? Like for example - the method from Greg Michalowski from FXDD - the 100 and 200 Moving Averages... I've started using the method and well, it has kept me off some trades that went the other way...
  • #16,354
  • Jun 22, 2011 12:46pm Jun 22, 2011 12:46pm
Quoting FX_California
LG:

I also live in PST zone. Lot of BO (per your charts) happens during London session when we are sleeping. How do we catch those unless we have a pending order in both side? But that will bring lot of drawdown also in choppy market. How do you get those?

Thanks,

FX_California
Unfortunately for us west coasters, we are pretty much limited to trading the Australasian session and either closing our trades before sleep or setting hard TP/SL levels.

Not sure exactly how LG does it (I think she just checks the trades the next morning) but I'd like to hear from her on this aspect.

Just be glad we aren't EST!
Enter Signature
  • #16,355
  • Jun 22, 2011 1:28pm Jun 22, 2011 1:28pm
Quoting FX_California
LG:

I also live in PST zone. Lot of BO (per your charts) happens during London session when we are sleeping. How do we catch those unless we have a pending order in both side? But that will bring lot of drawdown also in choppy market. How do you get those?

Thanks,

FX_California
I am not catching alot of the H1 BOs. But I am catching many of the moves on the daily chart that turn into BOs. You will notice on the charts that I posted earlier this morning where I was in the trade, that my entry was before the BO, that's because I took the entry on the daily chart....generally around 8:00-9:00 p.m. just before I stop looking at charts for the evening.
  • #16,356
  • Jun 22, 2011 1:29pm Jun 22, 2011 1:29pm
Quoting CrucialCraig
GBP is extremely volatile. It seems like it fluctuates more and stronger than any other currency. Not sure why.

I also don't like GBP pairs because of this.
There is a reason why GBPJPY is generally known as "The Beast".
  • #16,357
  • Jun 22, 2011 1:33pm Jun 22, 2011 1:33pm
Quoting lawgirl21
I am not catching alot of the H1 BOs. But I am catching many of the moves on the daily chart that turn into BOs. You will notice on the charts that I posted earlier this morning where I was in the trade, that my entry was before the BO, that's because I took the entry on the daily chart....generally around 8:00-9:00 p.m. just before I stop looking at charts for the evening.
And just to pick on your brain: any particular guidance on how you take those trades on the Daily Chart? Following just the trend of the day before? Perhaps anticipating a 3Tap?

mDf
  • #16,358
  • Jun 22, 2011 2:24pm Jun 22, 2011 2:24pm
Hi all,

This week I have been trading 1hBO for the short term and daily 3tap and BO for long term

For the daily I have also been trading in the direction of the 200EMA as a filter, PA on entry
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  • #16,359
  • Jun 22, 2011 2:27pm Jun 22, 2011 2:27pm
When it gets to 100 pts the move SL to BE
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  • #16,360
  • Jun 22, 2011 2:55pm Jun 22, 2011 2:55pm
Quoting maestrodforex
And just to pick on your brain: any particular guidance on how you take those trades on the Daily Chart? Following just the trend of the day before? Perhaps anticipating a 3Tap?

mDf
I was going to ask the same question. I'm unable to understand or see why LG got into some trades and why does she ignore some of them. I have been struggling with it for a while now. She takes certain 4C 1hBO and ignores some. Same for 3tap and money tree. It's not like I'm new to trading or I don't know technical analysis or anything. I know and understand everything is being said and done. I'm no beginner. At times I can see all the rules match and setup is there and yet LG doesn't take them and for some trades there aren't any rules but she is on it.

for example: AUDNZD short trade. Why did she take it? What made her take it there? I can't see any reason why she took that particular location.

I'm putting it all down to her experience.
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