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Trade What You See - Almost Naked Trading

  • #17,441
  • Aug 26, 2011 10:21am Aug 26, 2011 10:21am
a nice Signal on the AUDUSD H4
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  • #17,442
  • Aug 26, 2011 10:39am Aug 26, 2011 10:39am
Quoting Squaretrader
a nice Signal on the AUDUSD H4
You are taking a H4 trade right into a weekend.
What was your trigger, TP and SL?

Andreas
  • #17,443
  • Aug 26, 2011 10:39am Aug 26, 2011 10:39am
Missed the BOs, but here is a nice example of retrace trades.
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  • #17,444
  • Aug 26, 2011 11:08am Aug 26, 2011 11:08am
Quoting pippete
Missed the BOs, but here is a nice example of retrace trades.
Pippete

You are shorting for what reason?
H1, H4 D1, W1 and MN1 are up?

Wouldn't it be better to wait for the retrace and then trade back into direction of momentum?

Cheers
Andreas
  • #17,445
  • Aug 26, 2011 11:12am Aug 26, 2011 11:12am
Quoting Squaretrader
a nice Signal on the AUDUSD H4
Looks like it's right at a resistance... I'd be careful... Plus it's friday PM...
  • #17,446
  • Aug 26, 2011 11:17am Aug 26, 2011 11:17am
Quoting AndreasF
Pippete

You are shorting for what reason?
H1, H4 D1, W1 and MN1 are up?

Wouldn't it be better to wait for the retrace and then trade back into direction of momentum?

Cheers
Andreas
Reason is quick 15-20 pips on a retrace after a major move. I know it's countertrend completely and strictly PA trades, but that's why it's in and out. LG does retraces sometimes, especially after a large move like CHF today. I'm already out with +30 pips total on both, as it quickly reversed. These trades are very risky and have to be monitored closely.
You are right, we could wait for the retrace and trade back into original direction, but that probably won't happen this week...
  • #17,447
  • Aug 26, 2011 11:20am Aug 26, 2011 11:20am
Agree

Well done, nice trade!

Cheers
Andreas

Quoting pippete
Reason is quick 15-20 pips on a retrace after a major move. I know it's countertrend completely and strictly PA trades, but that's why it's in and out. LG does retraces sometimes, especially after a large move like CHF today. I'm already out with +30 pips total on both, as it quickly reversed. These trades are very risky and have to be monitored closely.
You are right, we could wait for the retrace and trade back into original direction, but that probably won't happen this week...
  • #17,448
  • Edited 12:51pm Aug 26, 2011 12:20pm | Edited 12:51pm
Quoting AndreasF
You are taking a H4 trade right into a weekend.
What was your trigger, TP and SL?

Andreas
Hey Andreas (or pipette), I just got back sorry. So you guys never trade H4 approching the weekend? It's probably in the thread and sorry for asking.. but do you guys usually close all position before friday 5PM? I'm new to this method so...

Anyways, I closed it with only 9 pip profit. but that's better than nothing!

Simon
  • #17,449
  • Aug 26, 2011 11:53pm Aug 26, 2011 11:53pm
Hi Simon

I avoid holding positions during the weekend on TF lower than D1.
Weekend gaps can hit your SL or TP easily, which is more like a 50%-50% gamble.

I prefer to trade H1 and H4 only in times of high liquidy where we have the edge of trading with momentum in direction of RSI.

Cheers
Andreas


Quoting Squaretrader
Hey Andreas (or pipette), I just got back sorry. So you guys never trade H4 approching the weekend? It's probably in the thread and sorry for asking.. but do you guys usually close all position before friday 5PM? I'm new to this method so...

Anyways, I closed it with only 9 pip profit. but that's better than nothing!

Simon
  • #17,450
  • Aug 27, 2011 5:54pm Aug 27, 2011 5:54pm
i want to thank every body in this thread for there effort and i am new to this strategy but i think i have understood every thing but i just can't get the MONEYTREE strategy and how-when to enter a postion and how to exit so plz if any one could respond to me i 'll be gratefull . thnx again
  • #17,451
  • Aug 27, 2011 10:12pm Aug 27, 2011 10:12pm
Great FX tool and its free

http://www.currencystrengthmeter.com
We trade to live not live to trade................
  • #17,452
  • Aug 28, 2011 7:26pm Aug 28, 2011 7:26pm
Gaps... Good eve peeps, hope you had a great weekend!
Not many gaps today, this is pretty much the only one I saw over 25 pips. Out with +20
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  • #17,453
  • Aug 28, 2011 8:42pm Aug 28, 2011 8:42pm
One of a few BOs happening this Asian session..
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  • #17,454
  • Aug 28, 2011 8:43pm Aug 28, 2011 8:43pm
Another BO here..
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  • #17,455
  • Aug 28, 2011 9:03pm Aug 28, 2011 9:03pm
LG,

I have read in some post that you talk about a book of yours, please can you tell me the name of this book and where I can get.

Thank you very much.
Enter Signature
  • #17,456
  • Aug 28, 2011 9:14pm Aug 28, 2011 9:14pm
Form my understanding entry is the same as in H1 BO.
Set the SL of 30 pips and forget the trade until the next morning.

If your SL got hit: move on and wait for the next trade
IF you got a runner and are big into profit: either cash in or add more
If the price is still ranging around your entry price: just wait it out


Quoting kmalex
i want to thank every body in this thread for there effort and i am new to this strategy but i think i have understood every thing but i just can't get the MONEYTREE strategy and how-when to enter a postion and how to exit so plz if any one could respond to me i 'll be gratefull . thnx again
  • #17,457
  • Aug 28, 2011 9:24pm Aug 28, 2011 9:24pm
Quoting AndreasF
Hi Maudur

Suggest you post a few charts, mention why you took the trade and define SL and TP so we can comment and guide.
I think that would facilitate your learning process best

Cheers
Andreas
GBPJPY BO
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Enter Signature
  • #17,458
  • Aug 28, 2011 9:38pm Aug 28, 2011 9:38pm
Quoting maudur
GBPJPY BO
If you zoom out you will see the S/R areas more clearer.

Should price break out I would suggest to watch the 126.00 as it may act as resistance again.

At 126.00 I would either TP or move my stop to BE.

Cheers
Andreas
Attached Image (click to enlarge)
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  • #17,459
  • Aug 28, 2011 9:50pm Aug 28, 2011 9:50pm
Quoting AndreasF
If you zoom out you will see the S/R areas more clearer.

Should price break out I would suggest to watch the 126.00 as it may act as resistance again.

At 126.00 I would either TP or move my stop to BE.

Cheers
Andreas
Andreas,

I will follow your advice.

Thank you very much.
Enter Signature
  • #17,460
  • Aug 28, 2011 10:03pm Aug 28, 2011 10:03pm
Quoting AndreasF
Form my understanding entry is the same as in H1 BO.
Set the SL of 30 pips and forget the trade until the next morning.

If your SL got hit: move on and wait for the next trade
IF you got a runner and are big into profit: either cash in or add more
If the price is still ranging around your entry price: just wait it out
i want to thank you for your answer but i have one more Q and hopefully seeking your answer it's about TP and SL in H1 4C strategy .
and thnx again for your answer.
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