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Trade What You See - Almost Naked Trading

  • #16,501
  • Jun 29, 2011 6:03am Jun 29, 2011 6:03am
Entered on a Daily 3 tap and added another branch
300 pts and 170 pts
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  • #16,502
  • Jun 29, 2011 8:03am Jun 29, 2011 8:03am
Quoting eltax100
Entered on a Daily 3 tap and added another branch
300 pts and 170 pts
That is terrific trading. Makes me very proud.
  • #16,503
  • Jun 29, 2011 8:05am Jun 29, 2011 8:05am
My best trade of the week so far. 2 branches: one up 180 the other up 100.
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  • #16,504
  • Jun 29, 2011 8:07am Jun 29, 2011 8:07am
Beautiful BO
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  • #16,505
  • Jun 29, 2011 8:09am Jun 29, 2011 8:09am
Another nice BO
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  • #16,506
  • Jun 29, 2011 8:11am Jun 29, 2011 8:11am
Nice BO, now resting awhile.
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  • #16,507
  • Jun 29, 2011 8:16am Jun 29, 2011 8:16am
Second day in a row, missed the break out again.......
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  • #16,508
  • Jun 29, 2011 8:29am Jun 29, 2011 8:29am
Quoting Nijn
Second day in a row, missed the break out again.......
May not be too late. Watch it on the M15 for an entry.
  • #16,509
  • Jun 29, 2011 8:32am Jun 29, 2011 8:32am
Just a word of caution. Today's eur volatility was due to the Greek vote on austerity program. Tomorrow expect the same when they vote on implementation of it. Big swings and Stop Losses can be hit. I will take my profits on eur and stand on the sidelines tomorrow until the dust settles from the voting.
  • #16,510
  • Jun 29, 2011 8:40am Jun 29, 2011 8:40am
Quoting airbeat
Just a word of caution. Today's eur volatility was due to the Greek vote on austerity program. Tomorrow expect the same when they vote on implementation of it. Big swings and Stop Losses can be hit. I will take my profits on eur and stand on the sidelines tomorrow until the dust settles from the voting.
That is probably wise. I am trying to pay more attention to news...so far I have not been very good at it.
  • #16,511
  • Jun 29, 2011 8:44am Jun 29, 2011 8:44am
Quoting lawgirl21
May not be too late. Watch it on the M15 for an entry.
Should've been more alert, I'm getting too old for this....

@airbeat, you're right, big swings and spikes today.
I had a nice setup in cable, but the stoploss got hit during one of those spikes.

Anyone entered long in EURCHF ?
  • #16,512
  • Jun 29, 2011 9:03am Jun 29, 2011 9:03am
Quoting Nijn
Should've been more alert, I'm getting too old for this....

@airbeat, you're right, big swings and spikes today.
I had a nice setup in cable, but the stoploss got hit during one of those spikes.

Anyone entered long in EURCHF ?
I'm not liking what I see for a long here.
  • #16,513
  • Jun 29, 2011 9:10am Jun 29, 2011 9:10am
Quoting lawgirl21
I'm not liking what I see for a long here.
I guess we can agree now that we need to devise the system more to get better resiliency level towards announcement's effect. Maybe add lil' more rule such #monitor your trade when there's an important announcement coming?

Regards
  • #16,514
  • Jun 29, 2011 9:18am Jun 29, 2011 9:18am
Quoting lawgirl21
I'm not liking what I see for a long here.
I think I know what you mean, the long term trend on the daily chart is down down down.
However, I'm seeing a sort of an inverted Head&Shoulders on the hourly chart.
The RSI's were blue and pointing up when I entered the long at the break out.
So, maybe this is the trigger for a (small) reaction in the major downtrend.
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  • #16,515
  • Jun 29, 2011 9:22am Jun 29, 2011 9:22am
Quoting utjuph
I guess we can agree now that we need to devise the system more to get better resiliency level towards announcement's effect. Maybe add lil' more rule such #monitor your trade when there's an important announcement coming?

Regards
It should be part of everyone's trading day. First thing is to check what news is coming out for the day such as we find here on Forex Factory. Some events have major impacts on the FX market and can cause very large swings that will hit stop losses.

I will try to post reminders when some major news event is imminent. Many of the other news events while significant are not crucial to longer term trades. Short term such as BO trades though can take a hit.

Meanwhile lets rock on and continue to make pips with this great system.
  • #16,516
  • Jun 29, 2011 9:23am Jun 29, 2011 9:23am
Quoting utjuph
I guess we can agree now that we need to devise the system more to get better resiliency level towards announcement's effect. Maybe add lil' more rule such #monitor your trade when there's an important announcement coming?

Regards
Great idea...monitor your trades..wish I had thought of that.
  • #16,517
  • Jun 29, 2011 9:40am Jun 29, 2011 9:40am
Quoting lawgirl21
Great idea...monitor your trades..wish I had thought of that.
Ahhh you made me smile today Rebecca...
  • #16,518
  • Jun 29, 2011 9:59am Jun 29, 2011 9:59am
Well, the idea of putting that 'trade monitoring' rules is because this system is using mid to long term view. And as you had already acknowledged, people are lazy creature. It's more convenient to just set up the trade and leave it, at least that's the way for me. Hence, just IMO, better to write and state it explicitly. At least, that's far better than considering everyone knows what they should do. (Like me, I'm just a noob, with lil' experience from my job in the bank)

Regards
  • #16,519
  • Jun 29, 2011 10:19am Jun 29, 2011 10:19am
Anyone entering a long trade in cable ?
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  • #16,520
  • Jun 29, 2011 11:21am Jun 29, 2011 11:21am
Quoting Nijn
Anyone entering a long trade in cable ?
I'm waiting for the new H4 candle in 40 mins.
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