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Trade What You See - Almost Naked Trading

  • #16,781
  • Jul 13, 2011 8:38am Jul 13, 2011 8:38am
Quoting degournay
Can you tell me where I can get the above. Is there a site where I can download them and add to myMetaTrade platform?
HA candles (which means Average Price candles) are on your metatrader platform. Go to Navagator--> Custom Indicators.
  • #16,782
  • Jul 13, 2011 9:05am Jul 13, 2011 9:05am
USDCHF currently trading at new lows.
Anyone else also in this one ?
Attached Image
  • #16,783
  • Jul 13, 2011 9:08am Jul 13, 2011 9:08am
Looks like Gold is triggering nice moves in the USD crosses.
See USDJPY and AUDUSD.
Attached Images
  • #16,784
  • Jul 13, 2011 9:19am Jul 13, 2011 9:19am
ZC Trade long...
Attached Image (click to enlarge)
Click to Enlarge Name: trenddisplay.gif Size: 17 KB
There`s no life before COFFEE!
  • #16,785
  • Jul 13, 2011 9:26am Jul 13, 2011 9:26am
Quoting jalkok
ZC Trade long...
now up +45pips
There`s no life before COFFEE!
  • #16,786
  • Jul 13, 2011 9:47am Jul 13, 2011 9:47am
Looking for a BO of this consolidation on the H4 chart
Attached Image
  • #16,787
  • Jul 13, 2011 10:36am Jul 13, 2011 10:36am
Quoting lawgirl21
HA candles (which means Average Price candles) are on your metatrader platform. Go to Navagator--> Custom Indicators.
Thanks for that
  • #16,788
  • Jul 13, 2011 11:39am Jul 13, 2011 11:39am
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...
Merlyn, thanks for the tips
Already using it as I write this post.


Quoting lawgirl21
Looking for a BO of this consolidation on the H4 chart
If it is okay with you, I prefer BO on the downside, I am long AUDUSD.
I have also attached charts using the two different types of average bars for comparison.
Attached Images
  • #16,789
  • Jul 13, 2011 11:54am Jul 13, 2011 11:54am
Also consolidation on EurJPY 4H chart
Attached Image (click to enlarge)
Click to Enlarge Name: ej.jpg Size: 71 KB
  • #16,790
  • Jul 13, 2011 12:20pm Jul 13, 2011 12:20pm
Quoting vijidas
Are you referring to the pinbar on daily for EU and GU?

USDCHF looks more like BEOB.
All I see is there is a reversal move, and with a breakout on that direction, I made that trade.

Quoting eltax100
Not a great morning

Closed the wrong trade ouch and took another that wasn't a good enough set-up.
Eltax, would it be possible to share with us which trade goes wrong for you? and that set up you thought wasnt good enough.
  • #16,791
  • Jul 13, 2011 12:29pm Jul 13, 2011 12:29pm
Quoting lawgirl21
HA candles (which means Average Price candles) are on your metatrader platform. Go to Navagator--> Custom Indicators.
Thanks for mentioning Heikin Ashi candlestick. New things to learn.

Will give it a try and do some research on its usage.


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 for the share. Gonna try and see how it goes being the exit strategy.
  • #16,792
  • Jul 13, 2011 12:44pm Jul 13, 2011 12:44pm
Summary for today

GBS/USD: 173.1 pips
NZD/USD: 130.7 pips
EUR/USD: 124.7 pips
AUD/USD: 109.2 pips
GBP/NZD: 104 pips
EUR/JPY: 21.9 pips
USD/CAD: 21.7 pips

USD/CHF: -139.7 pips
EUR/CHF: -89.1 pips (in the attached picture, two trade of EUR/CHF because made a mistake lot size in the first trade. Added another one to make it the same with the rest. So for the purpose of summary, I took the highest negative pips.)
USD/JPY: -58.2 pips

Pips won: 685.3 pips
Pips lose: -287 pips

Total pips for today: 398.3 pips (though the attachment says 311.2)

A good day to you all

This is the only trading trade system thread am active on Forex Factory. Kudos to Lawgirl for starting the thread and to everyone actively contributing to its development. I will contribute some of my own during my free weekend.
Attached Image
  • #16,793
  • Jul 13, 2011 12:51pm Jul 13, 2011 12:51pm
Quoting daniel.dna
Summary for today

GBS/USD: 173.1 pips
NZD/USD: 130.7 pips
EUR/USD: 124.7 pips
AUD/USD: 109.2 pips
GBP/NZD: 104 pips
EUR/JPY: 21.9 pips
USD/CAD: 21.7 pips

USD/CHF: -139.7 pips
EUR/CHF: -89.1 pips (in the attached picture, two trade of EUR/CHF because made a mistake lot size in the first trade. Added another one to make it the same with the rest. So for the purpose of summary, I took the highest negative pips.)
USD/JPY: -58.2 pips

Pips won: 685.3 pips
Pips lose: -287 pips

Total pips for today: 398.3 pips (though the attachment...
Wow - fantastic results - can i ask you, were these all H1 BO trades or 3T or MT or a combination ?
  • #16,794
  • Jul 13, 2011 1:06pm Jul 13, 2011 1:06pm
Quoting dimlat
Wow - fantastic results - can i ask you, were these all H1 BO trades or 3T or MT or a combination ?
I use BO or 3T, with some being a combination. At the same time I do look at the daily and weekly chart. I honestly have not did any MT or compounding entries during my entire trading experience.

It also depends on the traders themselves. I go for it just because of the BO, PA and the trend line itself even though it doesn't tap 3 times. 3T is a good thing though, it confirms the set up.

I did mentioned at the post below though bout being cautious. Because I see there should be a short term reversal, or maybe a total trend reversal.
http://www.forexfactory.com/showthre...54#post4774254

So before I went out, all the trades that I confirmed the set up, I made the trades. And Its only now I am back at home with my charts. So I closed all now.

I don't use SL by the way. I take my loss as a loss at the end of the day. There are always more trades to be done next

Though how I wish I did Gold... There wasn't enough time for me to wait for the chart to tell me a buy just now... Oh well... Another day will come.
  • #16,795
  • Jul 13, 2011 1:14pm Jul 13, 2011 1:14pm
Quoting daniel.dna
I use BO or 3T, with some being a combination. At the same time I do look at the daily and weekly chart. I honestly have not did any MT or compounding entries during my entire trading experience.

It also depends on the traders themselves. I go for it just because of the BO, PA and the trend line itself even though it doesn't tap 3 times. 3T is a good thing though, it confirms the set up.

I did mentioned at the post below though bout being cautious. Because I see there should be a short term reversal, or maybe a total trend reversal.
http://www.forexfactory.com/showthre...54#post4774254

So...
thanks for response - no SL! - gosh, you are brave! ironically, my best rade today was your worst - i waited for a breakout in USDCHF and went short! however, you made more pips than me today - well done!
  • #16,796
  • Jul 13, 2011 1:26pm Jul 13, 2011 1:26pm
Quoting dimlat
thanks for response - no SL! - gosh, you are brave! ironically, my best rade today was your worst - i waited for a breakout in USDCHF and went short! however, you made more pips than me today - well done!
Yeah. Made a mistake in USDCHF, EURCHF, and USDJPY. I don't have time to monitor them today. I went through the charts again to see what I did wrong. Good to hear you're still making pips each pips count!

USD/CHF and USD/JPY
The trend is going down in 1hr and 4hr chart. But I made the mistake of going long. If the bigger trend is going down, and I see the PA is going down again below support after breaching the resistance, I will close and open a short. But I wasnt there to monitor them as usual.

EUR/CHF
A retracement upwards though didn't even go above previous day resistance. And nothing much there. So I will still be losing this trade at the end of the day to be honest.
  • #16,797
  • Jul 13, 2011 4:22pm Jul 13, 2011 4:22pm
Quoting daniel.dna
All I see is there is a reversal move, and with a breakout on that direction, I made that trade.



Eltax, would it be possible to share with us which trade goes wrong for you? and that set up you thought wasnt good enough.
Hi, Daniel

Great results by the way,

The trades that went wrong for me today

1 trade just turned out bad it happens
2 moved my stop too tight and got stopped out
3 closed a trade by mistake when taking some profit
4 guilty of chasing the market and got punished



Down 20pts or 1% so no big shakes

Sometimes its best to halt trading for the day and review
always lots more opportunities around the corner.
  • #16,798
  • Jul 13, 2011 5:14pm Jul 13, 2011 5:14pm
Quoting eltax100
Hi, Daniel

Great results by the way,

The trades that went wrong for me today

1 trade just turned out bad it happens
2 moved my stop too tight and got stopped out
3 closed a trade by mistake when taking some profit
4 guilty of chasing the market and got punished



Down 20pts or 1% so no big shakes

Sometimes its best to halt trading for the day and review
always lots more opportunities around the corner.
Some similarities here :
ad 1) Same here, I am still short cable, that's not good right now.
ad 2) Happened to me with long EURUSD early this morning.
ad 3) Cannot trade right now because the broker disconnects......
ad 4) Cannot chase the broker.....

It was a good trading day for me, still short USDJPY, short USDCHF, long AUDUSD.
Hopefully the broker comes back alive again, this does not feel good.

1.
  • #16,799
  • Jul 13, 2011 9:39pm Jul 13, 2011 9:39pm
H4 3 Tap
Attached Image
  • #16,800
  • Jul 14, 2011 2:22am Jul 14, 2011 2:22am
Quoting lawgirl21
H4 3 Tap
On that chart 3T the current candle has now pierced the TL and the H4 RSI is up so do you write that off as a 3T and go to H1 and look for 4C BO??
Also had the H4 RSI been down would that have completed a 3T setup?
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