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Trade What You See - Almost Naked Trading

  • #17,581
  • Sep 8, 2011 3:03am Sep 8, 2011 3:03am
Quoting jeepill
Hi Andreas, thanks for sharing your information with us. Were you a member of James16 private group or did you learn the methods from his thread in ff? I like LG's breakout strategy and I am also trying to learn to trade daily/weekly charts. I think both the BO and longer term charts combined can be a good strategy to have for us part-time traders...
JP
Hi JP

I was not a member of the private forum but studied James and Mikes Charts for quite a while.

In the CADJPY trade I was trying to combine the break of the daily pinbar with our 'normal' BO H1 as trigger.

Cheers
Andreas
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  • #17,582
  • Sep 8, 2011 4:15am Sep 8, 2011 4:15am
GBP pairs on the move, lots of BOs now happening. Took this one for a quick +20 pips... GBPJPY and GBPCAD doing similar things... bank rate announcement I guess..
I think I should experiment with holding my trades a little longer.. let winners run, huh?
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  • #17,583
  • Sep 8, 2011 4:18am Sep 8, 2011 4:18am
This one ready to BO soon... wait for BRN to break... (big round number)
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  • #17,584
  • Sep 8, 2011 4:19am Sep 8, 2011 4:19am
Nice move here...
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  • #17,585
  • Sep 8, 2011 4:23am Sep 8, 2011 4:23am
Quoting AndreasF
Nice trades, Pete
May I ask you what is your average monthly return?
How many H1 BO trades do you take on average per month?

Thanks
Andreas
Hey Andreas, believe it or not, I don't have stats yet. I just started to seriously trade these BOs recently, you could say it's my first month of serious trading, and still demo. My goal (soon live) will be 100 pips per week, which I do get now on demo easily, and we'll go from there. I do take a lot of BO's, usually 2-3 trades per day...
  • #17,586
  • Sep 8, 2011 5:48am Sep 8, 2011 5:48am
Quoting pippete
Hey Andreas, believe it or not, I don't have stats yet. I just started to seriously trade these BOs recently, you could say it's my first month of serious trading, and still demo. My goal (soon live) will be 100 pips per week, which I do get now on demo easily, and we'll go from there. I do take a lot of BO's, usually 2-3 trades per day...
Hi Pete

100 pips per week are probably around 3%.
Fantastic results!

Cheers
Andreas
  • #17,587
  • Sep 8, 2011 5:51am Sep 8, 2011 5:51am
Entered when broke BRN support... wow... out with +20 on that and EURCAD each... OK, maybe I will let them run longer, looks like they just keep going... But then again, it's my system - I just snip them pips 20 at a time, get rich slowly...
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  • #17,588
  • Sep 8, 2011 6:45am Sep 8, 2011 6:45am
Hi there

Can anyone please tell me where to get that arrow rsi? I've been trading the 3 period rsi for years and thought I had a "secret". Appears not. Please point me to a download - thanks so much...
  • #17,589
  • Sep 8, 2011 6:49am Sep 8, 2011 6:49am
Quoting jobates
Hi there

Can anyone please tell me where to get that arrow rsi? I've been trading the 3 period rsi for years and thought I had a "secret". Appears not. Please point me to a download - thanks so much...
http://www.forexfactory.com/showthre...92#post4127792
Post # 2399 has the indi

Enjoy!
  • #17,590
  • Sep 8, 2011 6:52am Sep 8, 2011 6:52am
In that same chapter you quote from, it says too that "the lips of the wise disperse knowledge" - so please do answer me with that pearl of wisdom from your vast back of knowledge dear lady...when you have a moment of course...
  • #17,591
  • Sep 8, 2011 6:54am Sep 8, 2011 6:54am
Thank you so much for that link - you're a star....blessings...
  • #17,592
  • Edited 7:14am Sep 8, 2011 7:03am | Edited 7:14am
Thanks Andreas - I have several of those indicators that display trends on all the pairs for different timeframes - my interest at this moment is that nifty little one the lady has on her rsi... The one that puts those arrows on the indicator line itself. I believe the girl who keeps the law hereabouts used it first...
If you can point once more I promise I won't bother you again...
Please bear with the new kid on the block...
  • #17,593
  • Sep 8, 2011 7:20am Sep 8, 2011 7:20am
Quoting jobates
Thanks Andreas - I have several of those indicators that display trends on all the pairs for different timeframes - my interest at this moment is that nifty little one the lady has on her rsi... The one that puts those arrows on the indicator line itself. I believe the girl who keeps the law hereabouts used it first...
If you can point once more I promise I won't bother you again...
Please bear with the new kid on the block...
Dude, please do yourself a favor and read the first several pages of the thread. Andreas posted the post number, and it says there:

"There's a true/false statement if you want to see the indicator placed in your RSI window (upper right) and a user choice to enter the name of the RSI that they are using, if it's different that the standard RSI(3)...so, if you have your RSI value set to 7 or something other than 3 you will need to change this in the user dialog. You must have a RSI window for this option to work."
just set the RSI window option to true....

Please, you gotta do some homework for things to work...
  • #17,594
  • Sep 8, 2011 7:40am Sep 8, 2011 7:40am
sorry guys...go well
  • #17,595
  • Sep 8, 2011 8:09am Sep 8, 2011 8:09am
Thanks Pippete for taking time to post charts & comment on them.

How do you manage to scan so many different pairs? I've tried to keep tabs on several at a time but my trading suffered. Do you use multiple screen?
  • #17,596
  • Sep 8, 2011 8:14am Sep 8, 2011 8:14am
Would someone be willing to help me better understand how to trade the Break Out trade. I read how to trade the Money Tree trade and can do that entry.

Some of you appear to be going to bed and having orders triggered. Are you placing limit orders and if so where do you place them?

Also what time of the day do you put in your orders. I live in the Mountain Time zone so this appeals to me.

Any help would be greatly appeciated.

Thank you,

Zach
  • #17,597
  • Sep 8, 2011 9:08am Sep 8, 2011 9:08am
Quoting zallred1
Would someone be willing to help me better understand how to trade the Break Out trade. I read how to trade the Money Tree trade and can do that entry.

Some of you appear to be going to bed and having orders triggered. Are you placing limit orders and if so where do you place them?

Also what time of the day do you put in your orders. I live in the Mountain Time zone so this appeals to me.

Any help would be greatly appeciated.

Thank you,

Zach
The 4C 1H BO method is beautifully spelled out on page 1. Read that over and over again until you understand what she's talking about, especially the M15 entry.
Trading is a business and it has to be handled like that. You have to read, read, and read a ton to get your education, just like with any job. I'm a doctor and took me a zillion yrs of studying to get here, trading is just another kind of business that requires A LOT of studying. READ THE FIRST 50 pages of the thread at least to get familiar with the methods, then jump to maybe page 800 and you'll find tons of examples and explanations of the BO method from LG and others. But you really should read most of the thread if you wanna be a good trader.
I and LG dont use limit orders anymore as the market has been very volatile lately and pending orders get us whipsawed way too often.
Orders are put in whenever you see the BO happening. Could be at night or in the am. I had 2 trades last night at 10pm EST and 3 trades this am at 8am EST. That's when the BOs happened. They could happen anytime. Avoid NY pm though and low volatility times.

If you're just getting started with this method, I suggest you don't do the MT yet. Understand the BOs fully and you wont need much of anything else. I don't even do the 3taps anymore (LG doesn't do them either as there are tons of 1H BOs out there to make a killing)

Read, read, read, and screen time is the key to success!!!!
Peace,
Pete
  • #17,598
  • Sep 8, 2011 9:08am Sep 8, 2011 9:08am
Quoting pippete
GBP pairs on the move, lots of BOs now happening. Took this one for a quick +20 pips... GBPJPY and GBPCAD doing similar things... bank rate announcement I guess..
I think I should experiment with holding my trades a little longer.. let winners run, huh?
Hi Mate,

Just wondering did you take the first brakeout short on this pair? if so why? and if not why not? just wondering. As it broke out south and the RSI Day/Week/Month were all pointing down. I only trade the Euro so just like to wacth other pairs. Thanks for posting all your trades, im looking at doing the same thing once im at home more and trading full time again
  • #17,599
  • Sep 8, 2011 9:38am Sep 8, 2011 9:38am
Quoting stinger007
Hi Mate,

Just wondering did you take the first brakeout short on this pair? if so why? and if not why not? just wondering. As it broke out south and the RSI Day/Week/Month were all pointing down. I only trade the Euro so just like to wacth other pairs. Thanks for posting all your trades, im looking at doing the same thing once im at home more and trading full time again
No, because I was sleeping.. You could have, but there is strong support at 5915 area, which is where it stopped. Zoom out to the D1 chart and you'll see even stronger support... If you're looking for 20 pips or so, sure, that looked like a valid BO, but not much room on bottom.
Peace
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  • #17,600
  • Sep 8, 2011 1:58pm Sep 8, 2011 1:58pm
Quoting pippete
No, because I was sleeping.. You could have, but there is strong support at 5915 area, which is where it stopped. Zoom out to the D1 chart and you'll see even stronger support... If you're looking for 20 pips or so, sure, that looked like a valid BO, but not much room on bottom.
Peace
Cheers for the answer mate, made me laugh when you told me you were sleeping. Im in the uk so most of the BOs I take are between 8am-1pm uk time. Been trading this way for almost a year and had some good results.
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