Trading Naked - Part 2

[Bloodhound]

All this thinking about stops has triggered a memory of a brilliant thread on T2W which is well worth reading over and over again IMO:

http://www.trade2win.com/boards/first-steps/33731-thebramble-s-trading-201-a.html

 

[Bloodhound]

Shame about the time of day as this looks like a nice set-up to me.....

 

[jammixmaster]

Shame about the time of day as this looks like a nice set-up to me.....

View attachment 68542

What a beautiful cup-and-handle formation. Yeah, it is a nice set up. How did the trade end....or since I'm guessing you missed the trade, how did it end if you WOULD have traded it?

 

[trendie]

same as yesterday. a game of two sessions.
choppy euro session making way for a trending US session.
all came good in the end.

I had 2 20 pip losses in the morning, followed by a 60 pipper in the afternoon, in the GU.
Missed the boat on the EJ.
But EU was also trendy, and jumped on board that one, for 45.

I like it when the day gives you two sessions to trade. We are fortunate that in our time-zones we have this.

 

[Bloodhound]

same as yesterday. a game of two sessions.
choppy euro session making way for a trending US session.
all came good in the end.

I had 2 20 pip losses in the morning, followed by a 60 pipper in the afternoon, in the GU.
Missed the boat on the EJ.
But EU was also trendy, and jumped on board that one, for 45.

I like it when the day gives you two sessions to trade. We are fortunate that in our time-zones we have this.

Nice going Trendie. I have to say cable was not playing ball for me today - hopefully normal service may be resumed tomorrow.....

 

[Bloodhound]

What a beautiful cup-and-handle formation. Yeah, it is a nice set up. How did the trade end....or since I'm guessing you missed the trade, how did it end if you WOULD have traded it?

Thank you, although I have to admit I have no idea what a cup and handle is!

In an effort to try and learn I googled the term and the first entry I found described it as a bullish continuation pattern. No offence intended towards you Jammix but this is why I can not stand all these names for chart patterns as they always seem to lead to some attempt at predicting what might happen next, which I do not believe is possible.

In case you're interested, my interest in EJ is / was that it's bounced off a former resistance level (which coincides with a 50 level) and has formed a nice support level. Since posting that chart the level I identified to 'buy' has formed strong resistance and, as I write, we're very much in chop monster mode. Given the time of day I can't be bothered to wait up to see what happens which is a shame as it could make for an interesting study.

 

[Bloodhound]

All this thinking about stops has triggered a memory of a brilliant thread on T2W which is well worth reading over and over again IMO:

http://www.trade2win.com/boards/first-steps/33731-thebramble-s-trading-201-a.html

Cheers Tenbob,

I can not overstate how important this thread (and a good number of TheBramble's) have been in helping me get my head round trading,

All the best

Rob

 

[wallstreet1928]

Hello kitejedi, I have tried to contact you by sending a private message but you never reply any more. I think trading has changed you a lot ever since I first met you, you were a very bubbly/jovial character back then. I know it's hard/stressful trying to devise a successful strategy, because you seen to have moved from day trading to swing trading then back to day trading, then trading naked Part 1 to part 2 and now scalping on 5/1 minute chart. There is too much noise on a 1 minute chart........it's like gambling my friend.

Cable is the most volatile currency and I hardly ever trade it unless there is a beautiful set up(like last night...please see chart on my website) , minimum stop loss has to be at least 35-40 similar to trading the Dow Jones as it is proven statistically that in the long run you get better returns. I have yet to meet anyone that can trade it successfully just like the Dow Jones, its just too volatile and not for the faint hearted.

I remember you telling me that you don't like going on blogs any more as it distorts your analysis and affects your trading and then you went and set up your own blog, I have to admit it did upset me.

Anyway my friend , I am just being honest with you so please don't take it personally because I have noticed this ever since I started posting on trade2win on "message for ftse traders thread" and then on "Wallstreet1928 Live analysis". I noticed you disappeared and then isolated yourself, and I never really heard from you after that as you lost contact or you didn't want to establish contact because of your trading problems , I just don't know.

It is very easy to talk about the stock market but very hard to trade it, I have met many people in my quest/journey to learn how to trade successfully but very few amongst them who could actually trade it successfully.





Thank you for taking the time out to read

 

[wallstreet1928]

"Cable is the most volatile currency and I hardly ever trade it unless there is a beautiful set up(like last night...please see chart on my website) , minimum stop loss has to be at least 35-40 similar to trading the Dow Jones as it is proven statistically that in the long run you get better returns. I have yet to meet anyone that can trade it successfully just like the Dow Jones, its just too volatile and not for the faint hearted."

good bit of the post imvho

not the old ~ lets go play in our private trade rooms

It is not private my friend, it is open to everyone and is free. I don't believe in monopolising knowledge, it should be free so everyone can have access to it.

Why don't you go and ask every one on the website the benefit they have derived from it. I sacrifice my time in order to help new traders, i have been doing that for a considerable amount of time.

So please come and see the website before you make preconceived judgements my friend or you can visit my previous thread to see the work that I have done for free(I am not a shark that wants to take advantage of people).
http://www.trade2win.com/boards/uk-...alls-ftse-dax-s-p-aimed-help-new-traders.html

we should always look to help our fellow traders buddies, that is the whole concept and founding principle of trade2win.

help and you shall be helped in times of need

 

[morgan_edge]

But does it look like KiteJedi needs help? His results are very very impressive. Even most of his 'bad days' seem to be around B/E or with a small gain. Slightly confused. Anyway.....

 

[wallstreet1928]

But does it look like KiteJedi needs help? His results are very very impressive. Even most of his 'bad days' seem to be around B/E or with a small gain. Slightly confused. Anyway.....

yes I agree , hence the reason why I said in my initial message

"I would like to offer my kind invitation to you to visit my website and benefit from all the individuals as we trade in a live room together. Strength and success always lies in number my friend. I would also like to take this opportunity to strengthen our friendship once again, as we made a good team back then. I also have a currency section which you could contribute your pearls of wisdom to as well. "

 

[wallstreet1928]

"preconceived judgements - (I am not a shark that wants to take advantage of people)."

did not say you were - no offence intended WS

if you want to share your knowledge - this threads not hit the forums must read threads - no spams just the odd humour post ?????????

your pretty safe I think for a bit if you want to post and take part ........ not a Hot thread yet

not sure how many pm's Robs getting - its only a basic 123 trade thread so cannot imagine its that many for such a well known trade entry method - does not seem to have any time problems posting his charts anyway


it was just an awful long post and sure you have posted on the last thread naked 1 - reads a bit like collecting followers kind of stuff

anyway your post was directed at Rob in the main so .........

good day to you

Hahaha .....followers, I'm not a preacher my friend.

I follow the sufi/spiritual path, one must always remain humble and have no EGO.

I have no interest in popularity and nor am I interested in followers my friend. If that was the case I would have a subscription service. I have been offered on many occasions to trade peoples accounts for a nice commission but i am not motivated by money. What I am interested in is for good/knowledgeable traders to share their insight with all the new traders on my website so that they can learn. hence the reason why I contacted Rob via PM but he never seems to reply so i thought I would put a message on his blog instead ..........

I noticed you came in to the website and then you disappeared, you are more than welcome to return my friend and share your knowledge.

 

[trendie]

I know the recent flurry of posts have been at KJ, but if I may.....

The first couple of paragraphs of WS1928s post seem to criticise, or imply that the method used is unprofitable. (The 35-40 pip SL is an interesting viewpoint.)

I dont understand the reference to expensive courses, as KJ seems to have found a method he is comfortable with, from ForexFactory. That thread was free.

My own experience with trading rooms, where many people have many styles, and on many different time-frames, can be overwhelming. You run the risk of having your own (valid) analysis constantly undermined by those more vociferous and charismatic. (not to be confused with being right!)

Also, I think transferring to another site would deny T2Wers of a good, clean thread, focussing on one method.

One of the advantages of T2W, is the ability to focus one one technique, whether it be Sniper, bbmacs set-ups, Cable breakouts, or here, 5-min 1-2-3s, etc. [EDIT: also foredogs IB thread!]
This way, there is no defocussing by different people extolling different styles in different time-frames. The thread is clean, and focussed, rather than having to unravel different ideas from a myriad of others competing ideas.

I would like KJ, to keep this approach, here, at T2W. Else all the knowledge and ideas become fragmented across many disparate sites.

 

[wallstreet1928]

I don't like to argue because that is not what my spiritual master teaches me to do, a Sufi must constantly strive to control his ego, to curb his anger and impatience.

the reason why I don't contribute here is because I respect Rob a lot and he has advised me not to post my charts as he only trades naked, in other words no indicators, trend lines etc.

I shall leave you in peace my friend, I am sorry if I upset you and all the other traders on this blog in anyway.

over and out

 

[traderbrazil]

FAO traderbrazil

see link I pm'd you

location GBP / USD possible breakout of range (wk / day tf ) - slow retest of breakout area perhaps


see Robs earlier post over last wk end regards targets thoughts etc

anyway sure you get the idea - time your plays - learn when to play would be my advice

Wall st is corect imvho - a little wider stop is usually required - 50 is plenty imvho - then follow Robs advice and reduce your risk ASAP

bye bye

Thanks for the heads up, Andy!

From what I've seen so far, giving a trade enough room to breathe, managing risk and position sizing/money management are IMO the hardest areas to master in trading.

Cheers,
Leandro

 

[wallstreet1928]

I know the recent flurry of posts have been at KJ, but if I may.....

The first couple of paragraphs of WS1928s post seem to criticise, or imply that the method used is unprofitable. (The 35-40 pip SL is an interesting viewpoint.)

I dont understand the reference to expensive courses, as KJ seems to have found a method he is comfortable with, from ForexFactory. That thread was free.

My own experience with trading rooms, where many people have many styles, and on many different time-frames, can be overwhelming. You run the risk of having your own (valid) analysis constantly undermined by those more vociferous and charismatic. (not to be confused with being right!)

Also, I think transferring to another site would deny T2Wers of a good, clean thread, focussing on one method.

One of the advantages of T2W, is the ability to focus one one technique, whether it be Sniper, bbmacs set-ups, Cable breakouts, or here, 5-min 1-2-3s, etc. [EDIT: also foredogs IB thread!]
This way, there is no defocussing by different people extolling different styles in different time-frames. The thread is clean, and focussed, rather than having to unravel different ideas from a myriad of others competing ideas.

I would like KJ, to keep this approach, here, at T2W. Else all the knowledge and ideas become fragmented across many disparate sites.

yes that is a very valid argument Trendie, i totally respect your view and I was hoping he would share that technique with other people on the forum.

But your argument holds true and we all have different types of traders and techniques and I for one have always respected that, and those that know me will testify to it. Every action is based on intention, and i did not intend to offend anyone but you have to appreciate that I have never heard any technician support the argument for a 1 minute chart. I just find it so hard to believe you can trade cable on a 1 minute as it is so volatile.

BUt, I am guilty of making preconceived judgements too with out researching it. can you post me the link for that strategy please, I will certainly research in to it and try to contribute utilising Rob's strategy.

I shall not engage/reply to any more arguments as I don't want to disturb the flow of rob's thread and good work.

I come in peace and i leave in peace

 

[foredog]

I just find it so hard to believe you can trade cable on a 1 minute as it is so volatile.

The secret is not to look at each bar on it's own but see that in the last 10? periods there has been 3 touches of a certain low and in the last 5 periods it's not gone higher than 50% 0f the last few bars. This you would not see looking at 1 candle encompassing this period, but you're right looking 1 bar at a time would just be chop.

 

[mb325]

If you read the thread (and the previous thread), you'll see that Rob only used the 1m TF to aggressively limit initial risk. Once the trade is in a bit of profit its back onto 5m.

Also, have a look at another well-known trading forum, on a thread entitled The System II you'll see plenty of traders making money on the m5 timeframe.

 

[wallstreet1928]

If you read the thread (and the previous thread), you'll see that Rob only used the 1m TF to aggressively limit initial risk. Once the trade is in a bit of profit its back onto 5m.

Also, have a look at another well-known trading forum, on a thread entitled The System II you'll see plenty of traders making money on the m5 timeframe.

OK certainly will

thank you

 

[wallstreet1928]

yes indeed my friend, I will take a look at it tonight

can somebody please post the link at forex factory