Trade What You See - Almost Naked Trading | Page 858 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Looking on a naked chart, can you pick the best strategy? 32 replies

How do you see trading - Do you see it as a means to an end? 12 replies

Can you tell with naked eyes? 151 replies

Bow's trading journal 2 (almost naked trading on m5) 26 replies

Trading as naked as you can get 0 replies

Attachments: Trade What You See - Almost Naked Trading
Exit Attachments

Trade What You See - Almost Naked Trading

  • #17,141
  • Aug 2, 2011 7:07am Aug 2, 2011 7:07am
Nice 3Tap so far. Entry pts shown with arrows.

Whats happening? The thread looks inactive these days. Great thread shouldnt be.
No more monitoring of potential trade set ups. Is it that pple 've made so much and wants to cool off?
Attached Image
  • #17,142
  • Aug 2, 2011 7:10am Aug 2, 2011 7:10am
Well, then let's post a few charts... BO seems to be happening here..
Attached Image
  • #17,143
  • Aug 2, 2011 7:11am Aug 2, 2011 7:11am
Nice BO here also, out w/+20 pips, now at major even number 9600...
Attached Image
  • #17,144
  • Aug 2, 2011 7:27am Aug 2, 2011 7:27am
Waiting for de BO from either of de box or triangle.
Attached Image
  • #17,145
  • Aug 2, 2011 7:30am Aug 2, 2011 7:30am
BO during London, then a stop, then continue down. Watching for newstime right around now...
Attached Image
  • #17,146
  • Aug 2, 2011 7:49am Aug 2, 2011 7:49am
Another CAD pair breaking out. slow though...
Attached Image
  • #17,147
  • Aug 2, 2011 9:14am Aug 2, 2011 9:14am
Lots and lots of pips today. I got in this trade very late and it still is giving me 50 pips. Hope some of you got in on the ground floor.
Attached Image
  • #17,148
  • Aug 2, 2011 9:16am Aug 2, 2011 9:16am
I took 2 positions here.
Attached Image
  • #17,149
  • Aug 2, 2011 10:15am Aug 2, 2011 10:15am
Slow, painful whipsaw... This is the kind of chart that makes you wanna pull your hair out. I went short on the 1H BO, missed TP by a couple of pips overnight, then turned back around. Hit SL on other side of channel, and looked like BO long, so I took it, then same thing happened on the long side... Missed TP and reversed.
LG, how would you avoid trades like this?
(Maybe set to BE after 15 pips? I though of that, but was sleeping... hmm..)
Attached Image
  • #17,150
  • Aug 2, 2011 10:29am Aug 2, 2011 10:29am
Quoting pippete
Slow, painful whipsaw... This is the kind of chart that makes you wanna pull your hair out. I went short on the 1H BO, missed TP by a couple of pips overnight, then turned back around. Hit SL on other side of channel, and looked like BO long, so I took it, then same thing happened on the long side... Missed TP and reversed.
LG, how would you avoid trades like this?
(Maybe set to BE after 15 pips? I though of that, but was sleeping... hmm..)
I'm not sure those kinds of trades can be avoided. They are going to happen. Sounds like you did everything right. The only way to have avoid the initial SL was to have been watching the trade...and we can't do that all the time.

I had the same thing happen last night with NZDUSD short. One of the few times I set a SL. Price whipped up, hit my SL, then immediately went to my TP, which was no longer there of course. The more I trade, the more I am convinced that logical stops, by that I mean at round numbers, trendlines, pivot points, whatever is obvious... are "sought out" to shake out the retail traders.
  • #17,151
  • Aug 2, 2011 10:39am Aug 2, 2011 10:39am
Quoting lawgirl21
I'm not sure those kinds of trades can be avoided. They are going to happen. Sounds like you did everything right. The only way to have avoid the initial SL was to have been watching the trade...and we can't do that all the time.

I had the same thing happen last night with NZDUSD short. One of the few times I set a SL. Price whipped up, hit my SL, then immediately went to my TP, which was no longer there of course. The more I trade, the more I am convinced that logical stops, by that I mean at round numbers, trendlines, pivot points, whatever...
Thanks. On that note, I kinda had a feeling that my TP on EURGBP should have been 8700, that's where it turned around. Greed... Lesson learned..
Not worried, as I made 60 some pips on other trades, thanks for the input.
Hey, I started reading "Trading in the Zone" - wow.. powerful book, i'm already looking at my trading a whole lot differently, and I'm only on page 30 or something...
  • #17,152
  • Aug 2, 2011 10:48am Aug 2, 2011 10:48am
Is anyone going to The Futures & Forex Expo in Las Vegas September 22-24th?

I have been a couple of times and it is lots of fun with much good free information. (Although there are plenty of things to buy there.) I highly recommend it if at all possible and its free. I met Kathy Lien and Boris Schlossberg there last time. Boris will be at this one.

You will go home highly charged up!
  • #17,153
  • Aug 2, 2011 12:45pm Aug 2, 2011 12:45pm
Quoting pippete
Thanks. On that note, I kinda had a feeling that my TP on EURGBP should have been 8700, that's where it turned around. Greed... Lesson learned..
Not worried, as I made 60 some pips on other trades, thanks for the input.
Hey, I started reading "Trading in the Zone" - wow.. powerful book, i'm already looking at my trading a whole lot differently, and I'm only on page 30 or something...

I usually dont post on FF but i wanted to acknowledge how great this book is. I am becoming a fan of Mark

I would always be in a trade but always lose out because my mind would be so stubborn to take profits concepts. For a trader to be good he needs to know the Mind is where everything happens...

great read
  • #17,154
  • Aug 2, 2011 8:29pm Aug 2, 2011 8:29pm
May have jumped the gun a little, but this pair is due a nice retrace.
Attached Image
  • #17,155
  • Aug 2, 2011 8:52pm Aug 2, 2011 8:52pm
Quoting lawgirl21
... One of the few times I set a SL...
LG,

Could you explain what you normally use, instead of SL? I also do not trust SL's.

thanks
The moment you stop growing you start shrinking.
  • #17,156
  • Aug 2, 2011 9:58pm Aug 2, 2011 9:58pm
Quoting vitalhb
LG,

Could you explain what you normally use, instead of SL? I also do not trust SL's.

thanks
I do not normally use any SL,vitalhb, but I don't recommend that for most traders. I do check my trades several times during the day, so I generally can exit a trade without a great deal of damage.

I do look for S/R levels to take profits, but I believe, as I said earlier, that a reasonable, logical SL puts the trade under the radar and as often as not, it is taken out.

Again, unless one is very comfortable with no stops and how one trades, I don't recommend it. What has been your experience with stops?
  • #17,157
  • Aug 3, 2011 6:29am Aug 3, 2011 6:29am
Quoting lawgirl21
Lots and lots of pips today. I got in this trade very late and it still is giving me 50 pips. Hope some of you got in on the ground floor.
Hi LawGirl, can you post the indi (rsi indicator + rsi arrows) you are using on this chart, please?
thanks
Max
  • #17,158
  • Aug 3, 2011 6:46am Aug 3, 2011 6:46am
Quoting dorellino
Hi LawGirl, can you post the indi (rsi indicator + rsi arrows) you are using on this chart, please?
thanks
Max
Have you checked Post #1, or the "paperclip" icon at top right of this thread?

All previous attachements are there and I'm sure that has been posted many, many times!
OPPORTUNITY IS NOWHERE
  • #17,159
  • Aug 3, 2011 8:25am Aug 3, 2011 8:25am
Quoting lawgirl21
May have jumped the gun a little, but this pair is due a nice retrace.
Out with 140 pips.
  • #17,160
  • Aug 3, 2011 8:33am Aug 3, 2011 8:33am
Quoting lawgirl21
I do not normally use any SL,vitalhb, but I don't recommend that for most traders. I do check my trades several times during the day, so I generally can exit a trade without a great deal of damage.

I do look for S/R levels to take profits, but I believe, as I said earlier, that a reasonable, logical SL puts the trade under the radar and as often as not, it is taken out.

Again, unless one is very comfortable with no stops and how one trades, I don't recommend it. What has been your experience with stops?
I have had bad experiences with stops. The worst was the one shown on the attached pictures. The "ghost" candles are the ask price candles. You can see that the bid price remained relatively stable but the ask candle stretched a lot just to pick up my stop. The spread jumped up to more than 8 pips just at that moment. It is more dramatic seen with 10 seconds candles, as in the second attachment.
On the other hand, I had my biggest losses without a stop, so it is difficult for me to say which is worse, trading with or without a stop.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: Bid+Ask_USD_CAD_5 Min_20110420.jpg Size: 266 KB
Click to Enlarge Name: Bid+Ask_USDCAD_10 sec_20110420.jpg Size: 165 KB
The moment you stop growing you start shrinking.
1 trader viewing now