Trade What You See - Almost Naked Trading

Summary of my Oanda Demo Non-5-Day-NY-Close Platform trades as of 1119 EST:

DrForexMD, thank you for sharing. I have only just recently uncovered this tread and am spending time reading it. Will contribute in the future as I use demo. I am a newbie to fx trading and learning the ropes at the moment (switching from being primarily an equities investors). Thanks again.

Hey Azk...I am glad you may be getting something out of this thread...I am a relatively new to Forex too. I am also attempting to seriously become a professional Forex trader and trying to assimilate the whole concept of trading what you see using the actual prices, key S/R levels, EMA, Fibonacci, RSI and TDI-RSI pattern indicators. It seems to also be definitely a timing issue when to trade, which TF while keeping an eye on big Forex News reports that usually results in the Market Makers (MM) taking a contrarian approach to the major trend in order to stop out the little Retail Traders. Because these *sudden* price changes happen during q 4 hr TF changes as well as the opening times of the Asian, London and NY opening, it is obviously that the MM have computers making decisions based on the prior number of Buyers and Sellers in the market. These automated Robots of the major Banks MM, etc. will "wham Bam" upand down to clean the market before beginning their new trend or its continuation.
I strongly suggest you look at the materials from PVSRA, Sonic R System, besides all the excellent free "Naked", "Daily" or "Price Action" videos available on Youtube that are downloadable with the Torch Browser... namely, materials by Nick Bencino, Timon Weller, Walter Peters and Nial Fuller.

Here is the my Oanda Demo after 4 hours or so - approx from $5 to $30 using micro 0.01 lots or 10 cents per Pip. Not bad so far !

Here is the first of the 28 Currency Pairs just before the NY Open using the FxChoice ECN 5-Day-NY-Close Broker platform at 1653:



At 1659:



At 1708:



So, there is no clear evidence of "Who Is In Control?" during this Indecision or Consolidation Phase as per Nick Benicino - a Professional Forex Trader - see his excellent free youtube videos on Price Action position trading - the Bulls (Buyers) vs. the Bears (Sellers) are in a tough-of-war still...

All three RSI H4, D1 and Wk on LG21' Indicator are sideways consistent with the Sideways Neutral Movement so far. So, we wait here before any trade !

Profit 50-100 Pips, so I will move my SL to BE - Chart Before resetting SL to BE:



Now after moving my SL to BE with 81 Pip profit - so, this becomes only a possible winning trade with no worry of losses:

SL -> BE after + 56 Pips

SL -> BE after +65 Pips :

Pair too Choppy in a Consolidation Phase with no real Direction - I will close this one:



Now Closed with tiny 2.5 Profit with summary of my trades until 1700 EST or NY Close tomorrow: