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Trade What You See - Almost Naked Trading

  • #17,241
  • Aug 9, 2011 9:29am Aug 9, 2011 9:29am
Quoting The7
I notice on most charts posted here people do not take the fake breakouts on the H1BOC but the opposite successful one. I understand that RSI confirmation on H1 and H4 is enough for direction, also a 15 min candle close outside the box as another confirmation. But even on the fake ones we do have those confi's. Please clarify, thanks..

I am not sure of your question, but if it is "how do we avoid fake BOs?" even with confirmation of RSI and close above/below S/R on M15 chart..the answer is that we can't always.

Here are two charts I am currently watching to enter short, everything looks great and confirms a short direction...yet the market will do what it wants to do. We can only give ourselves an edge, then move on. That's what we are trying to do here.
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  • #17,242
  • Aug 9, 2011 9:35am Aug 9, 2011 9:35am
Quoting lawgirl21
I am not sure of your question, but if it is "how do we avoid fake BOs?" even with confirmation of RSI and close above/below S/R on M15 chart..the answer is that we can't always.

Here are two charts I am currently watching to enter short, everything looks great and confirms a short direction...yet the market will do what it wants to do. We can only give ourselves an edge, then move on. That's what we are trying to do here.
10 Minutes later

The two white M5 candles will keep me out of this trade, at least for now. That is the beauty of this system.
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  • #17,243
  • Aug 9, 2011 9:38am Aug 9, 2011 9:38am
Quoting lawgirl21
10 Minutes later

The two white M5 candles will keep me out of this trade, at least for now. That is the beauty of this system.
That was exactly what I asked for LG. Appreciate the quick response.
  • #17,244
  • Aug 9, 2011 9:40am Aug 9, 2011 9:40am
Here is the short trade I took this morning. Notice the long BO? I am glad I missed that, I would take it which turned to be a loser.

Update 1: Closed half lot, free ride now. Will let run.
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  • #17,245
  • Aug 9, 2011 9:48am Aug 9, 2011 9:48am
Quoting lawgirl21
10 Minutes later

The two white M5 candles will keep me out of this trade, at least for now. That is the beauty of this system.
M5 Chart (don't know why TF is not printing)

Now, I will enter this trade short. I have given myself ever reasonable edge for a winning trade, but still can't be sure it will be. That is just the nature of trading.
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  • #17,246
  • Aug 9, 2011 9:54am Aug 9, 2011 9:54am
Quoting lawgirl21
M5 Chart (don't know why TF is not printing)

Now, I will enter this trade short. I have given myself ever reasonable edge for a winning trade, but still can't be sure it will be. That is just the nature of trading.
Are you Saving your chart as a "Picture"? If yes, it should print the whole chart
  • #17,247
  • Aug 9, 2011 9:55am Aug 9, 2011 9:55am
Another one for the immediate watch list. RSIs are telling us where it is "supposed" to go. Let's see.....
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  • #17,248
  • Aug 9, 2011 10:01am Aug 9, 2011 10:01am
Up over 50 pips at hour change.
  • #17,249
  • Aug 9, 2011 10:05am Aug 9, 2011 10:05am
Quoting The7
Are you Saving your chart as a "Picture"? If yes, it should print the whole chart
Yes, saving as a picture. It does print the whole chart on my other computer...odd. Thanks though.
  • #17,250
  • Aug 9, 2011 12:17pm Aug 9, 2011 12:17pm
LawGirl,

At some time you said you are using different bars to do your readings... I just can't seem to find the post - can you direct me there?

I see your red and white bars and like that - but I believe they are different...

mDf
  • #17,251
  • Aug 9, 2011 2:48pm Aug 9, 2011 2:48pm
Quoting maestrodforex
LawGirl,

At some time you said you are using different bars to do your readings... I just can't seem to find the post - can you direct me there?

I see your red and white bars and like that - but I believe they are different...

mDf
I have no idea what post that was MDF. But I have started using Heiken Ashi bars which are average price bars available on all platforms, I believe. They smooth out price. I really am liking them a great deal.
  • #17,252
  • Aug 9, 2011 3:26pm Aug 9, 2011 3:26pm
Quoting lawgirl21
I have no idea what post that was MDF. But I have started using Heiken Ashi bars which are average price bars available on all platforms, I believe. They smooth out price. I really am liking them a great deal.
LG, do you use HA bars for entries also? If so, how exactly? I have trouble seeing the actual scout/break below points with those suckers. I agree though, they are great for exits to keep you in the trade longer.
  • #17,253
  • Aug 9, 2011 9:12pm Aug 9, 2011 9:12pm
Asian BOs today... Very quiet tonight out there.. Come on people, grab those pips! Yen pair BOs happening...
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  • #17,254
  • Aug 9, 2011 10:04pm Aug 9, 2011 10:04pm
Quoting pippete
LG, do you use HA bars for entries also? If so, how exactly? I have trouble seeing the actual scout/break below points with those suckers. I agree though, they are great for exits to keep you in the trade longer.
I do use HA bars for entries too..still marking the scouts/wicks with a horizontal line. The only trade entry I have found that they do not work well for are Gaps...really can't see them with HAs.
  • #17,255
  • Aug 9, 2011 10:07pm Aug 9, 2011 10:07pm
Quoting pippete
Asian BOs today... Very quiet tonight out there.. Come on people, grab those pips! Yen pair BOs happening...
I have these pairs marked too, also EURJPY, but not much action so far.

Sorry, Pete...got my JPYs mixed up...
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  • #17,256
  • Aug 10, 2011 8:40am Aug 10, 2011 8:40am
Quoting lawgirl21
I have these pairs marked too, also EURJPY, but not much action so far.

Sorry, Pete...got my JPYs mixed up...
They did what we thought they would do..,.I'm out with 60 pips each.
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  • #17,257
  • Aug 10, 2011 8:42am Aug 10, 2011 8:42am
This BO just setting up now.
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  • #17,258
  • Aug 10, 2011 8:46am Aug 10, 2011 8:46am
New setup here too.
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  • #17,259
  • Aug 10, 2011 9:04am Aug 10, 2011 9:04am
hi Lawgirl.
your system is good this past 2 weeks...
i would like to know its performance previously on other days when it is not as volatile as per now? cos i just started to follow your system and i am really happy with it.
  • #17,260
  • Aug 10, 2011 9:53am Aug 10, 2011 9:53am
Quoting darrenH
hi Lawgirl.
your system is good this past 2 weeks...
i would like to know its performance previously on other days when it is not as volatile as per now? cos i just started to follow your system and i am really happy with it.
Thanks Darren and welcome. You will have to do your own backtesting, demoing, etc. to determine if this works for you. All I can tell you is that I make money when I follow the system and generally don't when I move away from it.
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