Best Thread Trading Naked

[rawrschach]

Ah, I didn't realise this was an 'open' thread. My trade for the day: soybeens IB

 

[Bloodhound]

Cable H1 Update

Stopped out last night Some comments on the chart. With the benefit of hindsight it all looks a lot clearer!!

 

[Mr10%]

Stop and Reverse?

 

[rawrschach]

Still looks good overall...you pyramid in and keep moving up your stop with the action?

If so you could get some ridiculous returns if you catch a trend.

 

[Bloodhound]

Stop and Reverse?

Precisely. I was actually chatting with EJ about this exact thing last night. If this had been on M5 then definitely but, as it was H1 and I need to sleep sometimes, it would have been too labour intensive. The idea of these higher tf trades for me is to find something to do when cable is beating me up on M5 so I'm only really looking for trading in one direction at the moment. In general though I would say the level where I thought I should have tightened my stop would have been a good place for an SAR.

 

[Bloodhound]

Still looks good overall...you pyramid in and keep moving up your stop with the action?

If so you could get some ridiculous returns if you catch a trend.

In essence that's exactly it. My 'philosophy, which is derived from trading M5, is to treat each new set-up / entry point as a new trade. Sometimes works and sometimes doesn't but, as you rightly say, can provide some pretty sensible returns.

 

[Bloodhound]

GBPJPY Intraday - Part 1

Here's one I'm running on demo this morning as I'm trying to get a feel for this pair (thanks apmf) and also just got some new screens so trying to work out how to discplay charts etc. As usual, just a line or 2 needed - either it will work or it won't (and this one damn nearly didn't as I made the schoolboy error of forgetting about news coming out lol).

Nice possible entry point for an addition forming at the moment...

 

[tenbobtrader]

In essence that's exactly it. My 'philosophy, which is derived from trading M5, is to treat each new set-up / entry point as a new trade. Sometimes works and sometimes doesn't but, as you rightly say, can provide some pretty sensible returns.

"I recollect Pat Hearne. Ever hear of him? Well, he was a very well-known sporting man and he had an account with us. Clever chap and merry. He made money in stocks, and that made people ask him for advice. He would never give any. If they asked him point-blank for his opinion about the wisdom of their commitments he used a favourite race-track maxim of his: "you can't tell till you bet." He traded in our office. He would buy one hundred shares of some active stock and when, or if, it went up 1 per cent he would buy another hundred. On another point's advance, another hundred shares; and so on. He used to say he wasn't playing the game to make money for others and therefore he would put in a stop-loss order one point below the price of his last purchase. When the price kept going up he simply move up his stop with it. On a 1 per cent reaction he was stopped out. He declared he did not see any sense in losing more than one point, whether it came out of his original margin or out of his paper profits.

"You know, a professional gambler is not looking for long shots, but for sure money. Of course long shots are fine when they come in. In the stock market Pat wasn't after tips or playing to catch twenty-points-a-week advances, but sure money in sufficient quantity to provide him with a good living. Of all the thousands of outsiders that I have run across in Wall Street, Pat Hearne was the only one who saw in stock speculation merely a game of chance like faro or roulette, but nevertheless, had the sense to stick to a relatively sound betting method."

from Reminiscences of a Stock Operator

good luck with the thread kitejedi

later

Andy

 

[Bloodhound]

""you can't tell till you bet."

Hello there Tenbob,
A great book and has had a huge influence on how I think I think about trading. That statement above forms the cornerstone of my trading strategy, in as much as we can never 'know' unless we try. I used to hate oysters until I tried them - now I love them (providing there's lots of tabasco etc.)!! As I don't believe in predictions and forecasting I just see it as identifying a level, placing a trade and then seeing what happens next, but I know I'll never know if it worked unless I trade it. Hope that makes some sort of sense?!
All the best
Rob

 

[Bloodhound]

Cable Intraday - Part 1

Stop and Reverse?

Talking of stop and reverse Mr. 10%.

Edit: as I write it's looking more like continuation!!

 

[Bloodhound]

GBPJPY Intraday - Part 2

I'm liking GBPJPY. Could provide some fun for the future if I could work out how the spread works - doh...

(and remember to move my stops)

 

[Bloodhound]

Cable Intraday - Part 2

Cable update - fake down and now going up.



Apologies of the charts are boring anyone but no-one else is posting here today - would be great to see some others getting naked today

BTW, I don't usually have time to be throwing lots of charts up but I've had a bad week and have a pet hatred of trading Fridays (and Thursdays if I can help it!), so have some time on my hands.

 

[Bloodhound]

GBPJPY and Cable Intraday - Part 3

Both trades stopped out and a nice SAR in play now (which I didn't take as it's one step at a time with this pair for me).

Anyway, using my usual risk, that little run down would have been worth just under 3 1/2% on capital.



Cable is behaving nicely this morning. Although probably blindingly obvious to most more experienced traders it took me ages to see this and realise what it was saying lol.... (that said I've found seeing it and trading it are 2 totally different beasts!!)

 

[Bloodhound]

GBPJPY and Cable Intraday - Part 4

Next trade coming up? Options being left open with a short below the low.....

 

[apmf]

I'm liking GBPJPY. Could provide some fun for the future if I could work out how the spread works - doh...

(and remember to move my stops)

View attachment 65358

Rob,
Spread is a bit of an issue with me too. But getting used to it. IMO some times you will get pretty decent moves which will compensate.

Btw I got in the same trade and today I was able to move my stops quite aggresively. Lets see I dont get killed like yesterday after the lunch.

Good luck
Paul

 

[apmf]

4hr view

Descending TrendLine with LrHi Formation. Price action candle showing some direction?

 

[Bloodhound]

Descending TrendLine with LrHi Formation. Price action candle showing some direction?

I hope that wasn't a diagonal line on your chart ;-)

FWIW, I always stick with M5 if I'm trading M5 otherwise it's all too easy to avoid taking entries etc. For me anyway, from an intraday perspective, most of the time, every level I'll ever need is on the screen in front of me. After all an H4 level was formed of an H1 level, which was formed of an M1 level etc. etc.

Just my view of things though and I stand to be corrected.

 

[Bloodhound]

Quick update on cable. Charts were getting a bit hectic with too much writing on them, so a bit of clarity needed. Currently T1 and T2 onside and T3 offside, but overall position looking OK. Nothing to do but wait and see, although she's looking a bit too lazy to break 1.61 again.

View attachment 65328

Little heads up on this chart of cable. RbS level at 5931 and where did she bounce today?
Benefit of hindsight and all that but that's why I write a journal (blog) and take loads of screenshots as it is starting to help me see this stuff quicker.

 

[Bloodhound]

GBPJPY and Cable Intraday - Part 5

First loser of the day - I don't like losing so tend to cut quick of things don't go my way immediately. It's taken almost 6 months to get used to cable and I guess will take the same on this pair!!

Bit messy ATM but price is obviously falling so the short looks sensible. Just a case of wait and see.......

 

[HawkTrader]

Hi Rob, nice thread. I've been meaning to contact you about your blog, but haven't had the time recently. I miss checking in every afternoon to watch your account equity grow!

I'll post some charts later, I have a question though... I didn't know you used a pyramid method, what happens if you have 3 longs on Cable, and then you enter a short on another 1-2-3? Do you close the remianing longs for their profits, or is every trade its own with no regards to the others?

Cheers
-Owain