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Trade What You See - Almost Naked Trading

  • #16,761
  • Jul 12, 2011 10:25am Jul 12, 2011 10:25am
Quoting eltax100
Hi Daniel


I take 3am UK time to 6am , just found this works for me when i get up at 6am and make a cupa tea turn the pc on and ready to go at say 6.20am UK time

you can change the indicator in the settings if it helps

Good luck
Thanks for your answer. So what you are telling me is that I can decide where I want the day to start and that means I can start my first candle anywhere in the 24 hour cycle that suits me? I have noticed that the platform I am using is three hours ahead of GMT and the trades are usually quite good using those first four bars as my SR lines.
I am still not clear as to when to get in. My interpretation is that if the RSI in the H1 and H4 are in the same direction when the price breaks out of the SR lines and also in the same direction on the M15, then it is a valid entry??
I am also using a SL of 25 pips and a first TP of 30 pips. Are there any rules regarding this?
Sorry about all the questions!!!
  • #16,762
  • Jul 12, 2011 10:41am Jul 12, 2011 10:41am
Quoting eltax100
They do look interesting, I think they would help you stay in longer and managing a trade .

probably not much better on entering the trade, are you going to test these Lawgirl ?
I sort of am testing them exactly as you said, to stay in a trade, not necessarily for entry. I set up a template and check it when I check the standard BO setup.
  • #16,763
  • Jul 12, 2011 1:21pm Jul 12, 2011 1:21pm
USD JPY pm BO trade
Attached Image (click to enlarge)
Click to Enlarge Name: usd jpy pm compair 12 bo.gif Size: 35 KB
  • #16,764
  • Jul 12, 2011 1:31pm Jul 12, 2011 1:31pm
Quoting degournay
Thanks for your answer. So what you are telling me is that I can decide where I want the day to start and that means I can start my first candle anywhere in the 24 hour cycle that suits me? I have noticed that the platform I am using is three hours ahead of GMT and the trades are usually quite good using those first four bars as my SR lines.
I am still not clear as to when to get in. My interpretation is that if the RSI in the H1 awand H4 are in the same direction when the price breaks out of the SR lines and also in the same direction on the M15,...

Hi degournay

I think LG might agree that their are no fast and hard rules, you can have an infinite number of factors coming into play, depending on your own trading style, experience, risk tolerance and MM ect

on the BO I tend to trade with the short term trend so if today's S&R are below yesterdays then I am looking for a short, because of that the arrows always tend to confirm the trade i.e BO below the Support on its lower than the day before.

If that makes sense, I know I miss a lot of BO`s however I seem to have a high win ratio.

I have taken the arrows off for the 1H 4C BO

We just find what works for us, create your own system.

Good Luck
  • #16,765
  • Jul 12, 2011 2:13pm Jul 12, 2011 2:13pm
@eltax100, short USDJPY is looking good.
Remember you had NZDUSD on the watchlist because of a daily 3tap ?
It tapped the same line again this week and is bouncing up.
I am seeing nice opportunities in that pair.

Also nice opportunities in USDCHF, it is now very near the low of the year.
And I am still seeing red candles
Attached Images
  • #16,766
  • Jul 12, 2011 4:07pm Jul 12, 2011 4:07pm
Quoting lawgirl21
I have been experimenting with using Heiken Ashi ...............................

Comments anyone?
Hello LG,

I have been using HA bars for some years and find them to be very useful. Two ways to use them for exits are:

1) Conservative, wait for a tail to appear from the opposite end of the candle to the direction of price movement. I.E. if price is going up close either all or part of your position when a tail shows from the bottom of the candle.

2) Aggressive, wait until a candle closes in a different colour and then close your position.

You must first decide which time frame you are TRADING though, no point in using this exit strategy on an M15 chart if you are following an H4 trend.
TTFN Merlyn
  • #16,767
  • Jul 12, 2011 5:04pm Jul 12, 2011 5:04pm
Quoting Merlyn
Hello LG,

I have been using HA bars for some years and find them to be very useful. Two ways to use them for exits are:

1) Conservative, wait for a tail to appear from the opposite end of the candle to the direction of price movement. I.E. if price is going up close either all or part of your position when a tail shows from the bottom of the candle.

2) Aggressive, wait until a candle closes in a different colour and then close your position.

You must first decide which time frame you are TRADING though, no point in using this exit strategy...
Thanks Merlyn, I am really liking them too. I like both both your suggestions conservative and aggressive. I am using them mostly on upper time frames...although I like them for H1 charts.
  • #16,768
  • Jul 12, 2011 6:20pm Jul 12, 2011 6:20pm
Quoting lawgirl21
Thanks Merlyn, I am really liking them too. I like both both your suggestions conservative and aggressive. I am using them mostly on upper time frames...although I like them for H1 charts.
I have been using HA for months and like the averaging system - also been experimenting with Average Price Bars - APB - slighty quicker averaging algorithm than traditional HA bars - unfortunately I only have the .ex file - I believe it comes from Compass FX.
Attached File(s)
File Type: ex4 ### Synergy_APB.ex4   4 KB | 330 downloads
"To live with Passion, it takes Courage and Grace to survive"
  • #16,769
  • Jul 12, 2011 9:48pm Jul 12, 2011 9:48pm
Quoting Britpip7
I have been using HA for months and like the averaging system - also been experimenting with Average Price Bars - APB - slighty quicker averaging algorithm than traditional HA bars - unfortunately I only have the .ex file - I believe it comes from Compass FX.
That indicator was also just posted in #16720

By coincidence, Dean Malone has just posted some educational videos on trading Asian Session breakouts, look like he brackets the first 9 hours of the day?

http://www.compassfx.com/synergy/commentary.htm
OPPORTUNITY IS NOWHERE
  • #16,770
  • Jul 12, 2011 10:11pm Jul 12, 2011 10:11pm
Quoting Callisto
That indicator was also just posted in #16720

By coincidence, Dean Malone has just posted some educational videos on trading Asian Session breakouts, look like he brackets the first 9 hours of the day?

http://www.compassfx.com/synergy/commentary.htm
I took a look at that video and he is doing exactly what we have been doing only we use 4 bars and Dean uses 9 bars. Notice that our BOs come generally before his. It is true there is nothing new under the sun.
  • #16,771
  • Jul 12, 2011 10:42pm Jul 12, 2011 10:42pm
4H 3T & 1H BO on AUD/USD
Fall seven times, stand up Eight! #GGMU
  • #16,772
  • Jul 12, 2011 10:47pm Jul 12, 2011 10:47pm
hello, thnks for lawgirl and friends, i'm a new commer so dont laugh at me when i ask so much, and hope that people dont mind to answer.

http://farm7.static.flickr.com/6128/...c659b76587.jpg

so is it 3 tap of GU?, and in this case when and where we should buy ( or sell ) ?
  • #16,773
  • Jul 12, 2011 11:09pm Jul 12, 2011 11:09pm
Quoting vickym
4H 3T & 1H BO on AUD/USD

4 H 3 Tap, ok, but not really seeing the 1 H Break Out....?

still early, things could change by Europe open in a few hours
OPPORTUNITY IS NOWHERE
  • #16,774
  • Jul 12, 2011 11:11pm Jul 12, 2011 11:11pm
I'm being cautious now.

check out EUR/USD, GBP/USD, USD/CHF at its weekly and daily chart.
  • #16,775
  • Jul 13, 2011 12:40am Jul 13, 2011 12:40am
Quoting daniel.dna
I'm being cautious now.

check out EUR/USD, GBP/USD, USD/CHF at its weekly and daily chart.
Are you referring to the pinbar on daily for EU and GU?

USDCHF looks more like BEOB.
  • #16,776
  • Jul 13, 2011 1:02am Jul 13, 2011 1:02am
BO
Attached Image (click to enlarge)
Click to Enlarge Name: usd cad 2 13 bo.gif Size: 12 KB
  • #16,777
  • Jul 13, 2011 1:04am Jul 13, 2011 1:04am
CAD CHF BO
Attached Image
  • #16,778
  • Jul 13, 2011 4:59am Jul 13, 2011 4:59am
Quoting eltax100
Hi degournay

I think LG might agree that their are no fast and hard rules, you can have an infinite number of factors coming into play, depending on your own trading style, experience, risk tolerance and MM ect

on the BO I tend to trade with the short term trend so if today's S&R are below yesterdays then I am looking for a short, because of that the arrows always tend to confirm the trade i.e BO below the Support on its lower than the day before.

If that makes sense, I know I miss a lot of BO`s however I seem to have a high win ratio.

I...
Thanks for your reply. Will try your method. I like the idea of high win ratio
Regards
  • #16,779
  • Jul 13, 2011 6:10am Jul 13, 2011 6:10am
Not a great morning

Closed the wrong trade ouch and took another that wasn't a good enough set-up.
  • #16,780
  • Jul 13, 2011 7:24am Jul 13, 2011 7:24am
Quoting lawgirl21
I sort of am testing them exactly as you said, to stay in a trade, not necessarily for entry. I set up a template and check it when I check the standard BO setup.
Can you tell me where I can get the above. Is there a site where I can download them and add to myMetaTrade platform?
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