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Trade What You See - Almost Naked Trading

  • #17,941
  • Oct 12, 2011 2:24pm Oct 12, 2011 2:24pm
Quoting piposterous
Not on topic , but the import of this subject transcends any single topic line. Forex37, I read your comment on this elsewhere and I wanted to clarify if a trader can lose more than his account .....

Piposterous,

this thread wasn't paying attention to money-management, despite it often was mentioned as absolute necessary tool.

What you are telling may get reality in volatile markets of course, but only, if you are overtrading with size and/or without money-management.

Rule #1 for each trader should be 'Protect your Capital' and this -in my understanding- let it be impossible to get a margin call, because size of trade doesn't allow this. And with intention I didn't mention SL, because using them may result in larger loss than planned.

josch
trading is war - life is simple
  • #17,942
  • Oct 13, 2011 8:02am Oct 13, 2011 8:02am
In response to Andreas 3T post here is one I saw this morning. I didn't take it, just wanted to share the chart
Attached Image (click to enlarge)
Click to Enlarge Name: gusd.gif Size: 11 KB
  • #17,943
  • Oct 15, 2011 10:43am Oct 15, 2011 10:43am
Many thanks to all of you who have helped keep this thread alive...even when I was no help at all.

The H1 4C BO is so simple, yet effective, it has amazed me that there has been so much to say about it...to fill over a thousand pages. It is still my main way of trading. The 3 Taps I haven't used as much in the last few months because the market has been so unsettled. But it remains in my trading arsenol.

I have started a new thread called Yet Another Moving Average Crossover and hope to see you all there too. I call it the 3,8 EMA Cross and is just another setup to add to our trading arsenal..again using very clean charts.

I wish all of you good trading. I had to leave the forum for a couple of months because it was taking so much of my time, my trading was suffering. But I am back at least for awhile and hope to stay in touch.
  • #17,944
  • Oct 15, 2011 11:15pm Oct 15, 2011 11:15pm
I'm glad to see you posting again, we missed you...
During the last couple of years I tried several ways of trading but only LG's methods provided me with a consistant profit.

Looking forward to the new thread!

Thanks!
Andreas



Quoting lawgirl21
Many thanks to all of you who have helped keep this thread alive...even when I was no help at all.

The H1 4C BO is so simple, yet effective, it has amazed me that there has been so much to say about it...to fill over a thousand pages. It is still my main way of trading. The 3 Taps I haven't used as much in the last few months because the market has been so unsettled. But it remains in my trading arsenol.

I have started a new thread called Yet Another Moving Average Crossover and hope to see you all there too. I call it the 3,8 EMA Cross and...
  • #17,945
  • Oct 17, 2011 1:24am Oct 17, 2011 1:24am
Many thanks to all of you who have helped keep this thread alive...


Thanks LG for all your efforts on this thread. Learnt a lot. Good luck on your new thread. Will keep up. Like simplicity.http://www.forexfactory.com/images/icons/icon6.gif

Fullpip
  • #17,946
  • Oct 18, 2011 7:15am Oct 18, 2011 7:15am
Quoting maudur
Good result, reached up profit 1.
maudur,

your shared EAs are a very nice support for trading and MM, thank you (again). One question: After removing the EA the lines (SL, Open, BE ...) remain on chart, it's possible to remove them (e.g. manually)?

Thank you
josch
trading is war - life is simple
  • #17,947
  • Oct 19, 2011 10:49am Oct 19, 2011 10:49am
Hi fellow traders from a soft afternoon in Ireland. (To you that means it's raining yet again!)

LG's 1HR 4C BO seems to be the next best thing to 75% French Dark Chocolate. It's simplicity makes it an absolute winner and for me a BIG plus is a minimum computer time.

What I'd like to know though, is when does the 1st 1 HR candle start? Is it:-
a) When my broker in London UK, starts his trading day ie. 08:00.
or
b) When the new day starts at 00:00

I've been following this particular thread with much interest and am happy to state true altruism is still present in most FF members. Good on ye!
  • #17,948
  • Oct 19, 2011 11:00am Oct 19, 2011 11:00am
Quoting basilc
Hi fellow traders from a soft afternoon in Ireland. (To you that means it's raining yet again!)

LG's 1HR 4C BO seems to be the next best thing to 75% French Dark Chocolate. It's simplicity makes it an absolute winner and for me a BIG plus is a minimum computer time.

What I'd like to know though, is when does the 1st 1 HR candle start? Is it:-
a) When my broker in London UK, starts his trading day ie. 08:00.
or
b) When the new day starts at 00:00

I've been following this particular thread with much interest and am happy to state true altruism...
I have found the best timing to be when you take the last 4 candles leading up to the London open (e.g. 4am, 5am, 6am and 7am GMT) and then work from there.

This is particularly useful if you are based in Europe since it means you can comfortably watch the London opening session. There is generally a period of consolidation in the few hours leading up to London, so the strategy works well.

Have a look at Lawgirl's newest thread. I find that the SMMA crossover principle ties in brilliantly with the London opening breakout.
  • #17,949
  • Oct 20, 2011 5:47am Oct 20, 2011 5:47am
Thanks forexpippy. Took your recommendation and bagged 3 wins before 10:30 local time.

GBP/CHF Short.
AUD/USD Long.
USD/CAD Short.

Good Trading to you and the rest of the crew!
  • #17,950
  • Oct 20, 2011 9:44pm Oct 20, 2011 9:44pm
Quoting josch
maudur,

your shared EAs are a very nice support for trading and MM, thank you (again). One question: After removing the EA the lines (SL, Open, BE ...) remain on chart, it's possible to remove them (e.g. manually)?

Thank you
josch
Hi Josch. What I do is I go back to select the template that contains the settings for this strategy. This template remove the Fibo lines.
Enter Signature
  • #17,951
  • Oct 20, 2011 10:02pm Oct 20, 2011 10:02pm
Quoting basilc
Hi fellow traders from a soft afternoon in Ireland. (To you that means it's raining yet again!)

LG's 1HR 4C BO seems to be the next best thing to 75% French Dark Chocolate. It's simplicity makes it an absolute winner and for me a BIG plus is a minimum computer time.

What I'd like to know though, is when does the 1st 1 HR candle start? Is it:-
a) When my broker in London UK, starts his trading day ie. 08:00.
or
b) When the new day starts at 00:00

I've been following this particular thread with much interest and am happy to state true altruism...
That is the coolest compliment...75% French Dark Chocolate! I really like that and am going to have to look for that kind of chocolate...thanks so much. I am glad you are getting something out of the system.

The first H1 candle was originally the broker's (which ever that is ) first candle. Use the period separator on your charts and you can easily see it.
  • #17,952
  • Oct 21, 2011 6:47am Oct 21, 2011 6:47am
Quoting maudur
Hi Josch. What I do is I go back to select the template that contains the settings for this strategy. This template remove the Fibo lines.

maudur,

thank you, simple solution of course

josch
trading is war - life is simple
  • #17,953
  • Edited 7:45am Oct 21, 2011 7:40am | Edited 7:45am
For anyone trading the european trading times (09H00 London onwards) you might like to look at the 4 hour box preceding that time for some very nice entries if you are not too greedy with the profit target some nice trades both ways on same day sometimes.

I recommend you always wait for the last candle to close beore placing orders, I only place stop orders and always take note of nearby strength/resistance zones.

I have NO indicators on my charts except the 4hr box and nearby S/R lines and only trade EUR/USD and GBP/USD

Thanks to those here who pointed the direction for me
  • #17,954
  • Oct 22, 2011 9:07am Oct 22, 2011 9:07am
please is anyone using this system in live account? Has the rule change? Pls can anyone tell if the rule is till same as post 1. Thanks.
If you don't control your emotion it will control you.
  • #17,955
  • Oct 23, 2011 6:52am Oct 23, 2011 6:52am
Quoting emmy01
please is anyone using this system in live account? Has the rule change? Pls can anyone tell if the rule is till same as post 1. Thanks.
emmy,

sure - post 1 is still valid.

josch
trading is war - life is simple
  • #17,956
  • Oct 23, 2011 7:00am Oct 23, 2011 7:00am
Hi there LarryK.

Good to see that you're also makin' hay with this simple trading strategy.

I'm more than somewhat interested to know what your SL settings are.

After a good run last week I got stopped out on Friday 5/5. Ouch!
  • #17,957
  • Oct 23, 2011 9:15am Oct 23, 2011 9:15am
Quoting emmy01
please is anyone using this system in live account? Has the rule change? Pls can anyone tell if the rule is till same as post 1. Thanks.

I am using in a live account. Nothing has changed from post 1. I am finding that I am not in the market on any one trade as long as I might have been a year ago due to market conditions these days...that's the main difference I'm seeing.
  • #17,958
  • Oct 23, 2011 11:37am Oct 23, 2011 11:37am
Hi Rebecca,

Thank you for devoting so much time to this forum, and for sharing your methods. I've been observing both threads pretty closely, and it's easy to glimpse the frequent rays of brilliance that are so apparent here.

But, I suspect your success is due in larger part to the way you actually manage your trades, rather than just the logic and simplicity of your setups and entry rules. A number of folks have asked about what to do once they're in the trade, and while I know this is not a discussion about money management, I think that 'trade management' of a specific type of trade once a specific setup is observed, is really a significant factor in helping traders to enjoy greater successes while following any specific method, yours included.

I wonder if you would be so kind as to -- at least occasionally -- tell us how much drawdown you experienced in a particular trade, and how much you were willing to accept in that trade, when you first entered. Not to tell us what to do, of course, but to tell us what YOU did, and why your trade was successful (or not). You know, where you pulled out and why, how it really went before you turned a profit, that sort of thing. This pretty much transcends money management, which is really an issue of risking certain percentages of funds against certain percentages of possible gain, certainly not for discussion here, nor what I'm suggesting.

If we knew how your trades actually ran, we would then have a much better idea of what to expect in our own trades, and I think the majority of students here (we are ALL students, no?), would learn more and would be be most appreciative. I could be wrong, of course; I often am

Be well, trade well, and thanks again for all your great efforts.
Jeff Singer, K2KV
  • #17,959
  • Oct 24, 2011 7:47am Oct 24, 2011 7:47am
Quoting basilc
Hi there LarryK.

Good to see that you're also makin' hay with this simple trading strategy.

I'm more than somewhat interested to know what your SL settings are.

After a good run last week I got stopped out on Friday 5/5. Ouch!
Mostly my stop is the other side of the box, I am usually out of the trade within 3 hours of the 9am London time candle, either stopped out or profit taken. I usually enter in the other direction if stopped out of the initial break, although on a bad day both will lose, on a good day of course I can get 2 winners.

The important thing is I am trading with the most volume in the market.
  • #17,960
  • Oct 29, 2011 6:10am Oct 29, 2011 6:10am
Quoting LarryK
Mostly my stop is the other side of the box, I am usually out of the trade within 3 hours of the 9am London time candle, either stopped out or profit taken. I usually enter in the other direction if stopped out of the initial break, although on a bad day both will lose, on a good day of course I can get 2 winners.

The important thing is I am trading with the most volume in the market.

Larry,

that's an interesting point, because on the BOs you don't necessary need all RSI and other trend supporting confirmation. I wasn't trying the regular reversing yet. Would you share your overall results of this - means, what is the result below the line, if you compare reversing trade and keeping profit/SL only (without reversing). Thank you.

josch
trading is war - life is simple
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