Best Thread Trading Naked

[HawkTrader]

Argh, she's not being very nice to us this morning is she? I've just had 4 losses in a row...

 

[Bloodhound]

Argh, she's not being very nice to us this morning is she? I've just had 4 losses in a row...

Yep - one of those mornings I'm afraid. Would I be right in thinking that one of your losing trades was an entry following the close of the 7.55am candle?

 

[HawkTrader]

LOL, are you watching me? It was indeed just after the low of that candle.

 

[Bloodhound]

LOL, are you watching me? It was indeed just after the low of that candle.

Haha - if I could make a suggestion? Through bitter experience, and I know if you read my blog you'll know I get carried away and forget this rule but, trading at 8am or in the aftermath of the LSE open is IMO incredibly risky. She tends to be choppy as hell whilst the equity chaps take stock and re-adjust their positions (I think). The danger is, like all the prettiest girls, she can make some great moves at or just after 8am (15-20 pips in one direction or another) and then, in the space of a few seconds, turn on her heels and go off in the opposite direction with another bloke....

 

[HawkTrader]

I agree with you Rob, I normally like to enter positions from about 6:30am (if I get the setup) and hold them through the chop with my stop at B/E... but later on this morning at 9:30am there is the "Claimant Count Change" to due to be released, and I like to get my day over before then. That being said though, some of my biggest profits have been around 8am. When would you consider it "safe" to trade again?

 

[Bloodhound]

I agree with you Rob, I normally like to enter positions from about 6:30am (if I get the setup) and hold them through the chop with my stop at B/E... but later on this morning at 9:30am there is the "Claimant Count Change" to due to be released, and I like to get my day over before then. That being said though, some of my biggest profits have been around 8am. When would you consider it "safe" to trade again?

Good question and one that I definitely wouldn't feel best qualified to answer. I guess, if I were still trading the FTSE and had my market profile hat on, then I'd want to give London 30 minutes to settle down. That said, it all depends on what price is doing. I used to be very impatient to get in to the next trade but I'm getting more mellow now. If you look at cable ATM she's a mess so what I am looking for now is some definition in the direction that price is going to take. In other words a classic 1-2-3 set-up would suit me just fine - 30-40 move followed by a consolidation and breakout etc.

 

[apmf]

Good morning,
Woke up bit late and saw GJ behaving ugly so far. Waiting for the first trade to trigger.

 

[HawkTrader]

These are the trades I've taken so far, bit too lazy to number them but you should get the idea... sorry my drawing skills are not as good as Rob's

I think I may have gotten a bit angry with Cable and not realised it... I entered around the same place twice, think these are bad setups?

 

[Bloodhound]

A couple of levels I'm looking at now. Thinking with that fractal is that, is she's going to break north, I want to be in ahead of the intraday high and round number as there may be resistance and a bounce at these levels, and I want my stop to b/e by this point. Then again, she could carry on down......

 

[trendie]

brilliant set of 4hr charts you posted, KJ.

no indicators, just a couple of lines for entries and exits.
no maths or processing, just accepting the price action for what it is.
inspiring stuff.

 

[Bloodhound]

brilliant set of 4hr charts you posted, KJ.

no indicators, just a couple of lines for entries and exits.
no maths or processing, just accepting the price action for what it is.
inspiring stuff.

Thanks Trendie - very kind of you to say so. Although a lot of the way I look at this stuff comes from Feb's threads, there is someone else who doesn't post on T2W any more who probably gave me the best advice I've had to date. To set the scene (LOL), it was back in June (I think) and I had gone from winning to losing, and, like all beginners was worried. Not because my 'system' was wrong - just that it didn't 'feel' right. Anyway, this is what they sugested I do:

1) Change to a different charting package
2) Pull up a cable chart with a different colour scheme to the one I used at the time
3) Look at it
4) Keep looking at it
5) What is it telling me?
6) Keep looking until I could see what it was telling me

And that was it for me. I could never thank them enough for this advice. If they ever read this thread they'll know who they are - so thank you again!!

 

[Bloodhound]

Cable M5 - Part 4

Becoming a war of attrition this morning with very little headway being made. These are my least favourite sorts of days as I know I have to keep hitting the levels and that she'll keep knocking me back until she's ready. How's it looking for you Hawk?

 

[HawkTrader]

Not looking good at all. I made one more trade that er... well, resulted in a loss obviously! If I don't get another setup before 11am I'm probably out for the day.

Typical woman!

 

[apmf]

Definitely not like yesterday. Hope it starts to get bit better after the news release. Don't really want to loose all what it gave me yesterday.

 

[Bloodhound]

Definitely not like yesterday. Hope it starts to get bit better after the news release. Don't really want to loose all what it gave me yesterday.

Looks like it's not been a particularly nice morning for GJ. I'm assuming you were up at 1am to catch the nice run down though?!

 

[Bloodhound]

USDCAD - Part 1

Just been triggered on this one. I'm trying a different money mgmt strat with this and have included a TP for half the trade at 1xR, which is more in keeping with how I trade M5.

Let's see what happens...

 

[Bloodhound]

USDJPY - Finis

Not sure what happened to the yen but it looks like someone decided to offload a bit. Anyway another one gone for a small profit.

 

[HawkTrader]

So hows trading the longer time frames going? Are you coping alright? (sounds like marriage therapy)

I made one winning trade just before lunch time on Cable, hurray!! 6 pips come to pappa! :whistling

 

[Bloodhound]

So hows trading the longer time frames going? Are you coping alright? (sounds like marriage therapy)

I made one winning trade just before lunch time on Cable, hurray!! 6 pips come to pappa! :whistling

Not making a lot tbh - in fact a little down but that's more to do with money management than anythig else. Early days yet. Cable M5 is challening to say the least today. I'm guessing you look the 11.55am long? If you did it looked nice for a few minutes but then came back heavily - great to have got anything out of it IMO.

P.S. Just wait for APMF to drop back in to tell us his morning has gone lol

 

[HawkTrader]

No I took the 10:45am short. I was guessing that it would reverse at 11:10am, but I wanted to give it a bit of room in hope of catching a longer trend. Could have made about 10 pips, but nevermind.

We're waiting for ya apmf!