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Trade What You See - Almost Naked Trading

  • #17,601
  • Sep 8, 2011 4:04pm Sep 8, 2011 4:04pm
Great advice Pippete. For me I have to write stuff down in my own words for it truly sink in and understand concepts - especially those in forex. Thats why a trading plan is so important.
Quoting pippete
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.
Audentes Fortuna Juvat
  • #17,602
  • Edited 4:47pm Sep 8, 2011 4:12pm | Edited 4:47pm
Quoting stinger007
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.
Cool, a strange thing I've been doing lately: If I wake up between 3-4am EST (9-10UK time I guess) when nature calls, I do a quick scan of the charts, and if there is a BO I enter immediately for about 20-30 pips and back to bed.. Still following all of LG's rules for BO. It has worked out 90+ % of the time... I've always wanted to get in on the 3am hr... Strange.. London session is the greatest in my opinion... Take advantage of it man!!!! I wish I lived in Europe, so I can follow the BO trades after entering, I would follow them down to reversals.
Good pips man, peace.
  • #17,603
  • Sep 8, 2011 7:56pm Sep 8, 2011 7:56pm
Great thread guys, thanks for all your input. Keep it up!!
  • #17,604
  • Sep 8, 2011 8:48pm Sep 8, 2011 8:48pm
Thank you Pippete for your reply. I took a trade this afternoon on audusd and it worked very nicely. I agree about reading everything I can and I will to more of it.

Thank you,

Zach
  • #17,605
  • Sep 8, 2011 10:12pm Sep 8, 2011 10:12pm
Andreas and Pippete, I see you are not using candles Heiken Ashi, why?
LG use these last months.

These candles do not work so well?

Thanks
Enter Signature
  • #17,606
  • Sep 8, 2011 10:27pm Sep 8, 2011 10:27pm

Heiken Ashi are most often used in the equity and commodity markets.
I don't know if they work well in FX or not.


I use candlestick price action setups as taught by James16 group
http://www.forexfactory.com/showthre...40#post4538540


Cheers
Andreas




Quoting maudur
Andreas and Pippete, I see you are not using candles Heiken Ashi, why?
LG use these last months.

These candles do not work so well?

Thanks
  • #17,607
  • Sep 9, 2011 12:01am Sep 9, 2011 12:01am
Quoting AndreasF

Heiken Ashi are most often used in the equity and commodity markets.
I don't know if they work well in FX or not.


I use candlestick price action setups as taught by James16 group
http://www.forexfactory.com/showthre...40#post4538540


Cheers
Andreas

Thanks Andreas. Excellent Post. Allowed me to clarify many doubts about the abbreviations that I see and I don't know.
Enter Signature
  • #17,608
  • Sep 9, 2011 12:04am Sep 9, 2011 12:04am
PipPete, I just wanted to commend you on your signature. LOVE that scripture, truth, and perspective. Thanks.
  • #17,609
  • Sep 9, 2011 12:55am Sep 9, 2011 12:55am
Yes, Pinbar did a great job summarizing PA setups and abbreviations in a single page

Quoting maudur
Thanks Andreas. Excellent Post. Allowed me to clarify many doubts about the abbreviations that I see and I don't know.
  • #17,610
  • Sep 9, 2011 2:30am Sep 9, 2011 2:30am
Pete,
I got a question, when these breakouts occur, you can get 2 breakouts in one pair.

If it breaks south and on looking at the m15 chart it gives a valid entry you enter. Grab your pips and out you go. When it then moves back into the tunnel and breaks north, do you enter the breakout going north depending on if it is valid on the m15 chart?

So potentially a double go on the same pair?

This is completely different to the ZC zorro trade isn't it?
  • #17,611
  • Sep 9, 2011 6:21am Sep 9, 2011 6:21am
On my watchlist for a BO. If stays below BRN, will enter.
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  • #17,612
  • Sep 9, 2011 6:21am Sep 9, 2011 6:21am
Waiting for it to close below that support...
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  • #17,613
  • Edited 7:28am Sep 9, 2011 6:24am | Edited 7:28am
Quoting Mattdede
Pete,
I got a question, when these breakouts occur, you can get 2 breakouts in one pair.

If it breaks south and on looking at the m15 chart it gives a valid entry you enter. Grab your pips and out you go. When it then moves back into the tunnel and breaks north, do you enter the breakout going north depending on if it is valid on the m15 chart?

So potentially a double go on the same pair?

This is completely different to the ZC zorro trade isn't it?
Exactly! You can totally do a double whammy on a pair, just look at GBPUSD posted earlier yesterday, great example.
Yes it is different from a ZC trade, as a ZC is BO, pullback then continue in same direction of 1st BO.
  • #17,614
  • Sep 9, 2011 6:46am Sep 9, 2011 6:46am
Quoting maudur
Andreas and Pippete, I see you are not using candles Heiken Ashi, why?
LG use these last months.

These candles do not work so well?

Thanks
Thanks for reminding me. I don't use them much as my style is grabbing 20 pips for eacht trade. HA candles, in my opinion, work pretty good in forex to keep you in a trade longer (sorry Andreas, I think they do work good in forex) That's why LG likes them. Look at EU yesterday. HA chart shows nice move for 12 candles, then a reversal candle at 5pm EST. We could have ridden this thing all the way down to the reversal candle.

The regular candlestick charts shows the 2 green candles in the middle of the move (a retracement) which would have made us think exit. HA candles smooth out the short pullbacks and let us ride THRU them. I'll probably start looking at them again for longer moves.

By the way, do you guys know how to post charts side by side?
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  • #17,615
  • Edited 7:55am Sep 9, 2011 7:25am | Edited 7:55am
Quoting pippete
Thanks for reminding me. I don't use them much as my style is grabbing 20 pips for eacht trade. HA candles, in my opinion, work pretty good in forex to keep you in a trade longer (sorry Andreas, I think they do work good in forex) That's why LG likes them. Look at EU yesterday. HA chart shows nice move for 12 candles, then a reversal candle at 5pm EST. We could have ridden this thing all the way down to the reversal candle.

The regular candlestick charts shows the 2 green candles in the middle of the move (a retracement) which would have made...
Thanks Pippete.

By the way, do you guys know how to post charts side by side?

Please use 400 x400 resolution for each chart.
Enter Signature
  • #17,616
  • Sep 9, 2011 8:12am Sep 9, 2011 8:12am
BO, rest then continue...
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  • #17,617
  • Sep 9, 2011 8:15am Sep 9, 2011 8:15am
Entered short... now some movement
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  • #17,618
  • Sep 9, 2011 8:27am Sep 9, 2011 8:27am
BO here
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  • #17,619
  • Sep 9, 2011 8:31am Sep 9, 2011 8:31am
Quoting pippete
BO here
Yes, too many BO happening so it becomes diifficult to chose...
  • #17,620
  • Sep 9, 2011 8:34am Sep 9, 2011 8:34am
Short in NZDUSD, CADJPY
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