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Trade What You See - Almost Naked Trading

  • #17,701
  • Sep 19, 2011 9:40am Sep 19, 2011 9:40am
Quoting pippete
Great job dude. I got +20 pips on each trade above... what to do when you reach your weekly goal by monday morning? hmm... I guess I'll keep practicing on demo, and share my setups...
Was your TP at the BRN 120.00?
Hi Pippete, No, I select TP1 at 261.8 Fibo level and TP2 at 423.6 Fibo level. Also I select BE to 161.8.

I closed 50% at BE, 30% at TP1 and 20% at TP2. Also, I select Trailing Stop at 50% of Tp2-TP1 when the order reaches TP1.

In it order, Open Price = 120.514, SL=120.914 (50 pips), BE=120.112, TP1=119.87, TP2=119.216.

A bit complicated to do manually, but that I developed an EA.
Enter Signature
  • #17,702
  • Sep 19, 2011 11:14am Sep 19, 2011 11:14am
Quoting maudur
Hi Pippete, No, I select TP1 at 261.8 Fibo level and TP2 at 423.6 Fibo level. Also I select BE to 161.8.

I closed 50% at BE, 30% at TP1 and 20% at TP2. Also, I select Trailing Stop at 50% of Tp2-TP1 when the order reaches TP1.

In it order, Open Price = 120.514, SL=120.914 (50 pips), BE=120.112, TP1=119.87, TP2=119.216.

A bit complicated to do manually, but that I developed an EA.
Hello there

can you share your EA? =)
  • #17,703
  • Sep 19, 2011 11:46am Sep 19, 2011 11:46am
Quoting Jonathan3009
Hello there

can you share your EA? =)
Sure, but please note that this EA does not correspond to the strategy of LG, H1 BO. Actually there are 2 EAs, which are used for any entry, one is for buying and the other for selling. This EAs send one order to the current price (Here is where you use the LG H1 BO strategy). Parameters are given as follows:

MagicNumber
StopLoss (SL in points)
FiboBreakEven (fibo level, example: 161.8. 0 is SL, 100 is open price)
BECLosePer (Order Percent to close at BE, ex: 50.0)
FiboProfit1 (fibo level, example: 261.8)
TP1ClosePer (Order Percent to close at TP1, ex: 30.0)
FiboProfit2 (fibo level, example: 423.6)
TP2ClosePer (Order Percent to close at TP2, ex: 20.0)
Risk (Percent of Risk calculated on the free margin, ex: 1.0)
Lots (Volume. If 0, then calculate the volume on the Risk)
MinLots (Minimum Lots to execute or 0)
MaxLots (Maximum Lots to execute or 0)
TrailingStop (0 or TrailingStop calculate on the TP2 - Tp1. TrailingStop
works when TP1 is reached)

Please note that when you close an order, you must close the EA!!!

Please, help me to test it's. Your comments are welcome.

I want to help in some way to make the most of these marvelous LG strategies.
Attached File(s)
File Type: ex4 BuyFibo.ex4   25 KB | 250 downloads
File Type: ex4 SellFibo.ex4   25 KB | 276 downloads
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  • #17,704
  • Sep 19, 2011 10:47pm Sep 19, 2011 10:47pm
tamiflu, as far as I know, none of the tablet PC's support the MT4 trading platform. Every time I see someone ask the same question you did, they get the same advice. It's better to use a mobile laptop. I've heard rumors that they're working on an application for MT4 to be compatible with I-Pad and Android tablets. But it hasn't happened yet. As for MT5, you'd be hardpressed to to find anyone who likes that platform. Just because it is the newest version doesn't mean it's better. Look where the Windows Vista OS wound up. My advice is to just stay with MT4 for now.[/quote]

Thank you pippete,bobby2 for your advices. Sorry for my not too clear words as i am not a native english. Anyway your post clarify for me the situation.
Green pips for everybody!
  • #17,705
  • Sep 20, 2011 1:32am Sep 20, 2011 1:32am
I guess we all have seen the perfect setup -like in attached NZDUSD.
BO of the box and RSI down from H1 to W1.
Price breaks through 10 pips and quickly reverses against us and hit SL.

To filter out such trades it helps to put daily S/R lines on the chart.
If price is too close to a daily S/R line I simple skip the trade and wait for better setups where price has enough space to travel.

Cheers
Andreas
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  • #17,706
  • Sep 20, 2011 7:40am Sep 20, 2011 7:40am
Long in EURCHF
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  • #17,707
  • Sep 20, 2011 7:52am Sep 20, 2011 7:52am
Exit EURCHF +32 pips,

Now Long in GBPCHF
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  • #17,708
  • Sep 20, 2011 7:58am Sep 20, 2011 7:58am
Quoting maudur
Exit EURCHF +32 pips,

Now Long in GBPCHF
Now next to Profit 2
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  • #17,709
  • Sep 20, 2011 8:04am Sep 20, 2011 8:04am
Quoting maudur
Now next to Profit 2
Ok, Exit GBPCHF at Profit2.
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  • #17,710
  • Sep 20, 2011 8:07am Sep 20, 2011 8:07am
Quoting maudur
Exit EURCHF +32 pips,

Now Long in GBPCHF
Those are the trades of the day. I'm out with +75 on GC at the BRN... SNB is doing it's thing again.. ? who knows...
  • #17,711
  • Sep 20, 2011 8:15am Sep 20, 2011 8:15am
Quoting pippete
Those are the trades of the day. I'm out with +75 on GC at the BRN... SNB is doing it's thing again.. ? who knows...
Nice trades, yes.
I'm watching USDCAD for a short as a channel trade /TL bounce
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  • #17,712
  • Sep 20, 2011 8:32am Sep 20, 2011 8:32am
In this BO...
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  • #17,713
  • Sep 20, 2011 8:39am Sep 20, 2011 8:39am
Long in USDCAD
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  • #17,714
  • Sep 20, 2011 9:02am Sep 20, 2011 9:02am
Quoting maudur
Long in USDCAD
Please keep in mind that you are trading into the 0.9940 area, which is strong resistance on D1
  • #17,715
  • Sep 20, 2011 9:08am Sep 20, 2011 9:08am
Quoting AndreasF
Please keep in mind that you are trading into the 0.9940 area, which is strong resistance on D1
Thanks Andreas. there is indeed a daily resistance. If not strong, but if there is. I will take it into account for future orders. Thank you very much.
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  • #17,716
  • Sep 20, 2011 9:16am Sep 20, 2011 9:16am
Quoting maudur
Thanks Andreas. there is indeed a daily resistance. If not strong, but if there is. I will take it into account for future orders. Thank you very much.
You are most welcome, Maudur.
We are here to help and learn from each other.

May I suggest that we post in addition to the charts also the reason why we take (or not take) the trade?
In that way we jointly can review the pro and con for each single trade.

Cheers
Andreas
  • #17,717
  • Sep 20, 2011 9:35am Sep 20, 2011 9:35am
Quoting AndreasF
You are most welcome, Maudur.
We are here to help and learn from each other.

May I suggest that we post in addition to the charts also the reason why we take (or not take) the trade?
In that way we jointly can review the pro and con for each single trade.

Cheers
Andreas
Andreas, Perfect. I will follow your advice and be aware of your comments have helped me a lot.

Thank you very much.
Enter Signature
  • #17,718
  • Sep 20, 2011 5:05pm Sep 20, 2011 5:05pm
Quoting pippete
In this BO...
This example of pippete's demonstrates exactly the difficulty that I am having getting my head around the H1 4C BO. I first read this thread many many months ago and I keep revisiting. I like the uncomplicated theory and visual indicators that have been put together. Yet, still I find that too often the examples that people are posting are simply the trades that come off... hindsight trading is easy after all - but look at pippete's graph. Indicators all point higher, implying a strong trend long. Yet, the first break out of the band in that direction (at prior to 5am) quickly reverses to the point that it actually breaches the lower support level - surely stopping anyone out that took that trade. On its second attempt, it does indeed push higher in what would have been a nice profit.

But why take one and not the other (other than the time of night!)? If we are following the rules then surely we must take both! Too often I see this sharp reversal back into band which surely prevents this system alone from being profitable!?

I am sure that I have read all the instructions many times but still can't see what the magic filter is?
  • #17,719
  • Sep 20, 2011 8:35pm Sep 20, 2011 8:35pm
A winner and a loser... nasty whipsaw on all JPY pairs, stay away from them... crazy jumpy tonight...
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  • #17,720
  • Sep 20, 2011 9:08pm Sep 20, 2011 9:08pm
Quoting jdg199
This example of pippete's demonstrates exactly the difficulty that I am having getting my head around the H1 4C BO. I first read this thread many many months ago and I keep revisiting. I like the uncomplicated theory and visual indicators that have been put together. Yet, still I find that too often the examples that people are posting are simply the trades that come off... hindsight trading is easy after all - but look at pippete's graph. Indicators all point higher, implying a strong trend long. Yet, the first break out of the band in that direction...
My understanding of that trade is that there was a strong support at the dotted line, and that's the level for me to be breached. Since that support wasn't broken (M15 close outside, etc.) I didn't take the trade. We can't take any BO out of the band blindly, have to carefully examine S/R levels also, that's why it's not a newbie method.
But I understand your frustration and even though I post a lot, I still don't have it down to a consistent system like LG did. I'm still demoing as I don't feel consistent enough for live trading yet. Andreas and Maudur are also 2 great minds that explain why they take trades, and they do take into consideration the bigger picture, and looks like they are more selective in trades. that's what I'm working at, to be even more selective in trades and analyze setups more carefully to prevent hasty trades.
Please others out there, keep posting for all of us out here that still need refinement of this method! I'm trying my best also, but the more minds the better of we all will trade.
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