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Trade What You See - Almost Naked Trading

  • #16,541
  • Jun 30, 2011 1:24am Jun 30, 2011 1:24am
daily 3t to keep an eye on
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  • #16,542
  • Jun 30, 2011 1:34am Jun 30, 2011 1:34am
Had this on my watch list and still missed it
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  • #16,543
  • Jun 30, 2011 3:10am Jun 30, 2011 3:10am
Have been reading and observing the thread. looks very good. Thanks.

Here is my observation from 3 trades, didnt take them though. still observing.
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  • #16,544
  • Jun 30, 2011 3:30am Jun 30, 2011 3:30am
GBP NZD daily 3T MT

Best trade going at the moment, moving stops with the trade, locking in profit

+ 800pts so far
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  • #16,545
  • Jun 30, 2011 3:41am Jun 30, 2011 3:41am
Quoting eltax100
GBP NZD daily 3T MT

Best trade going at the moment, moving stops with the trade, locking in profit

+ 800pts so far

Wow eltax, 800+pips. My AUDUSD only capture abt 200pips. I am already very happy...
  • #16,546
  • Jun 30, 2011 3:54am Jun 30, 2011 3:54am
Quoting eltax100
GBP NZD daily 3T MT

Best trade going at the moment, moving stops with the trade, locking in profit

+ 800pts so far
That's very nice

I'm still long Cable, but it's 100 pips down in less than 2 hours this morning.
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  • #16,547
  • Jun 30, 2011 8:02am Jun 30, 2011 8:02am
You guys are doing some beautiful trading.
  • #16,548
  • Jun 30, 2011 8:06am Jun 30, 2011 8:06am
A nice BO. I entered on a H4 3 Tap.
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  • #16,549
  • Jun 30, 2011 8:08am Jun 30, 2011 8:08am
Nice BO, then a pullback, now hopefully a continuation downward, for a ZC trade.
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  • #16,550
  • Jun 30, 2011 8:10am Jun 30, 2011 8:10am
Exactly the same as GBPJPY, just in reverse.
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  • #16,551
  • Jun 30, 2011 8:13am Jun 30, 2011 8:13am
I'm currently down bout 25 pips, but will stick with it a little longer because of PA and the directions are still with me.
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  • #16,552
  • Jun 30, 2011 8:14am Jun 30, 2011 8:14am
Talk about a turnaround! I started the week with three straight losing trades that hit my stop loss. I took a break a bit discouraged but not defeated. As of today I am now up 643 pips since those losses. Today and tomorrow will be Pip preservation days. Not going to give up these incredible gains for the week.

I am still having difficulty with the really long term trading. It's hard not to take 150 pips off the table. I take a portion off but when I see the trade start to turn down and 30-40 pips evaporate I wind up taking the rest off. This week it worked out well because I got back in on the retracments but I know the time will come when I am going to miss those 800 or better pip runs if I don't start working on that strategy too.

Anyone else in the same mind set? Maybe I'll start using micro lots for the long term and see how that goes.

Anyhow its turned out to be a fantastic week. Lots of breakouts to trade.
  • #16,553
  • Jun 30, 2011 8:21am Jun 30, 2011 8:21am
Nice setup but I missed it.
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  • #16,554
  • Jun 30, 2011 8:23am Jun 30, 2011 8:23am
Took half off still in the other half short. Took it just on PA because the RSI is not in agreement. May not be my smartest trade of the day. Yet trading with the trend so we will see.....
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  • #16,555
  • Jun 30, 2011 8:34am Jun 30, 2011 8:34am
14, 17, 11, 33 pips on 4 trades respectively so far the last few hours. Small win's, but that's okay with me for now. (1H 4C BO). A couple more trades ongoing. 4 out of 4 wins so far today, with 200 pips total taken yesterday, including a couple i left running overnight. I am now making sure i'm trading with the trend, and being more careful with what trades i enter. Cannot post charts at present. Getting more confidence and consistency, still a long way to go yet, but encouraging.

Good to see folk's having some good session's.

Bravo! Greg.
'Fail to plan, plan to fail'
  • #16,556
  • Jun 30, 2011 8:35am Jun 30, 2011 8:35am
Quoting airbeat
Talk about a turnaround! I started the week with three straight losing trades that hit my stop loss. I took a break a bit discouraged but not defeated. As of today I am now up 643 pips since those losses. Today and tomorrow will be Pip preservation days. Not going to give up these incredible gains for the week.

I am still having difficulty with the really long term trading. It's hard not to take 150 pips off the table. I take a portion off but when I see the trade start to turn down and 30-40 pips evaporate I wind up taking the rest off. This...
I think we all are battling that mind set. I used to stop live trading for the week after banking 100 pips. It was almost like a false humility, looking back on my reasoning...I think I was thinking along the lines of 100 pips was my fair share or something like that.

But now I realize that 100 pips was nothing, kind of like picking some of the fruit and letting the rest rot on the tree...it made no sense.

If you are getting to 600+ pip accumulations, it won't be too large a leap to 800, then even larger. Try to get use to taking good profits and setting BEs. Then if PA still moves in your favor, take more off the table and move to BE again.

FXDD allows traders to close from a full contract to .50, then to .25. I have not tried going lower than that, but I think the .25 can be taken to .10. I am assuming all brokers are the same. The point is that once profit is taken down to .25 at BE...there is not much loss left there and the potential gain is tremendous.
  • #16,557
  • Jun 30, 2011 8:37am Jun 30, 2011 8:37am
Quoting airbeat
Talk about a turnaround! I started the week with three straight losing trades that hit my stop loss. I took a break a bit discouraged but not defeated. As of today I am now up 643 pips since those losses. Today and tomorrow will be Pip preservation days. Not going to give up these incredible gains for the week.

I am still having difficulty with the really long term trading. It's hard not to take 150 pips off the table. I take a portion off but when I see the trade start to turn down and 30-40 pips evaporate I wind up taking the rest...
I'm with you on the psy issue that you are having. My problem is I start to think of it in real money and what I can get with it, plus I think about it in percentage of my account. Last week was not a great week for me and I had a few runners and all I could think was if I took it all off right now I could wipe out all my losses for the last couple of weeks.

I've been fighting this for about a year now! It's like LawGirl said, it's about mental toughness. it's amazing what I've done in sports and could mentally handle but this is hard.

So I modified my SL, turned off the computer, and watched a movie till my head was clear. I'm such a scalper at heart and even have the evidence that I trade better on longer term but my emotions can't take it. When I get my bonuses this year I'm thinking of going to a sports psychologist to see if I can work it out some how. I don't know, the wife is against "wasting" the money.
A woman drove me to drink, and I forgot to thank her
  • #16,558
  • Jun 30, 2011 9:00am Jun 30, 2011 9:00am
Quoting lawgirl21
Try to get use to taking good profits and setting BEs. Then if PA still moves in your favor, take more off the table and move to BE again.

FXDD allows traders to close from a full contract to .50, then to .25. I have not tried going lower than that, but I think the .25 can be taken to .10. I am assuming all brokers are the same. The point is that once profit is taken down to .25 at BE...there is not much loss left there and the potential gain is tremendous.
Thanks for the strategy suggestion LG. I like that idea. Oanda also lets you trade from full contract and break it down to micro lots so I will start looking for those setups to give it a chance to run.
  • #16,559
  • Jun 30, 2011 9:13am Jun 30, 2011 9:13am
EURCHF break out and rally.
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  • #16,560
  • Jun 30, 2011 9:14am Jun 30, 2011 9:14am
Also a break out.
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