Best Thread Trading Naked

[apmf]

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?!

Hi Rob,
Sorry I wasn't following your posts.
T7 gave me +45 pips but my entry was above the top red line cud have entered earlier.
Anyway I am flat completely out with +30 pips roughly will wait for the news release. Don't want to get burned.

 

[apmf]

Just a quick question: Do you guys trade during news release?
I completely get out of my position before 9:30 or 1:30 news release. On NFP days no trading from 1:00pm to 2:30pm for me.

 

[HawkTrader]

Nope, never trade news. I always check the forexfactory.com calender the evening before, and also before I start the session. I've always been tempted, but it's just so insane and volatile!

 

[Bloodhound]

Just a quick question: Do you guys trade during news release?
I completely get out of my position before 9:30 or 1:30 news release. On NFP days no trading from 1:00pm to 2:30pm for me.

In an ideal world I never trade in the 15-20 minutes before or 15-20 minutes after news, however there are times when cable gives the game away a few minutes before the release and it can be worth jumping on the train. FWIW I always get my stop to b/e asap in these cases as sometimes there can be a big change of direction (as GJ is doing atm) (see mt T5 and T6 this morning). Re NFP - in an ideal world I've done trading for the week by Thursday so it doesn't tend to affect me. In general I take the approach that I want to make my money and get out as early on in the week as possible. For me, the longer I am in trades, the more market exposure I have, and I also didn't get into this to waste my days away staring at a screen all day lol!!

P.S. What Hawk says above is best practice IMO - I just wish I had the discipline to stick to it!!

 

[apmf]

Nope, never trade news. I always check the forexfactory.com calender the evening before, and also before I start the session. I've always been tempted, but it's just so insane and volatile!

Ya Hawk, totally agree with you. Sometimes GJ gives very high slippage, so better to stay away. Moreover interpreting news is next to impossible IMO.
Cheers!

 

[apmf]

In an ideal world I never trade in the 15-20 minutes before or 15-20 minutes after news, however there are times when cable gives the game away a few minutes before the release and it can be worth jumping on the train. FWIW I always get my stop to b/e asap in these cases as sometimes there can be a big change of direction (as GJ is doing atm) (see mt T5 and T6 this morning). Re NFP - in an ideal world I've done trading for the week by Thursday so it doesn't tend to affect me. In general I take the approach that I want to make my money and get out as early on in the week as possible. For me, the longer I am in trades, the more market exposure I have, and I also didn't get into this to waste my days away staring at a screen all day lol!!

P.S. What Hawk says above is best practice IMO - I just wish I had the discipline to stick to it!!

I use Economic Calendar (Economic Calender) and Ransquawk (delayed) Login to the RANsquawk Portal :: RANsquawk to keep an eye on current affairs.
Discipline part is difficult with me aswell.
Rob, As you are trading Higer Tf(4hrly) then you dont really have to exit your position IMO??

 

[HawkTrader]

I have the forexfactory calender set as one of my many homepages so it opens up automatically as soon as I log online. Can't ignore it then! I think trading news could be possible, but it would have to have really wide stops and how would you know when to exit? I saw Cable shoot up about 20 pips in 2 seconds at 9:30 this morning!!

 

[apmf]

Looks like £ is proving very weak against Yen. What a massive sell off. huh!!
Edit: Oh no! I think its the yen.

 

[Bloodhound]

Not the greatest day on cable but finally saw some movement. I may have a look again in the morning otherwise I'm going to focus on my longer term trades. I'll try and post an update in a little while.

Edit: Scrap that. Nice 1-2-3 forming lol

 

[apmf]

Not the greatest day on cable but finally saw some movement. I may have a look again in the morning otherwise I'm going to focus on my longer term trades. I'll try and post an update in a little while.

Edit: Scrap that. Nice 1-2-3 forming lol

Update
T8 was a good trade gave me +64 pips. Tried to add on T9, but failed lost -14 pips there. Waiting for a re-entry on T9 same location.

 

[Bloodhound]

Cable M5 - Part 5

Will it, won't it?????

 

[HawkTrader]

Ouch... looks like you may have gotten into a small whipsaw there. Are you still in or did you close (if you entered in the first place that is!)?

 

[Bloodhound]

Ouch... looks like you may have gotten into a small whipsaw there. Are you still in or did you close (if you entered in the first place that is!)?

Yup - I got murdered!! Not much to do when that happens IMO. BTW, don't get confued by the pip count as it's a bit messed up. I don't usually measure my trades in pips - a bit too much hassle to go back and change it all though.

 

[Bloodhound]

Current Positions

The 2 remaining positions are looking good this morning. They're both pulling back a little which is excellent news as pullbacks followed by continuations offer me 2 useful opportunities:

1) To establish a sensible stop position (point of no return where I know the trend may be reversing against me)
2) The chance to add to my position

 

[Bloodhound]

Sterling this morning

Just a quick heads up for anyone interested in trading with a couple of lines and nothing else. Sterling is rallying across the board this morning. This is great news, IMO, as, when price moves aggressively, it tends to have to stop for a breather before (hopefully) carrying on.

This could mean lots of 1-2-3's on the horizon as well as some interesting level plays.....

At present I'm just watching the majors and have a few levels marked on to see what happens when price gets to them.

Let's see what happens

 

[apmf]

Good morning folks!!
Sweet rally on Stering today. But look what I just did, didn't took T2.. Don't really know what was the reason. Just assumed that it will retrace and whipshaw before moving up so missed the train. Not a problem too late now to talk abt it. Lets keep the rythm as I am still up for the day.
Hope you guys are banking pips...
Paul

 

[Bloodhound]

EURCHF - Part 1

I've been starting at this one for a couple of days thinking it looked horrible until I chucked a few lines onto it and then it all started to look a bit rosier.

The blue lines mark the levels that interest me and that SbR level tells a great story IMO.

Anyway, let's see what happens....

 

[apmf]

I've been starting at this one for a couple of days thinking it looked horrible until I chucked a few lines onto it and then it all started to look a bit rosier.

The blue lines mark the levels that interest me and that SbR level tells a great story IMO.

Anyway, let's see what happens....

View attachment 65908

U are really brave to get into that pair.

 

[Bloodhound]

U are really brave to get into that pair.

Hopefully brave, rather than foolhardy!!

I agree though. It's not a nice looking pair but I really liked the way price had a stab at moving higher and ran straight into a brick wall at that S now R level. It could turn into the chop monster from hell but just a case of seeing what happens. I like the fact that there's some clear air below.

As Tenbobtrader pointed out earlier in the thread, one will never know unless one tries!

 

[Bloodhound]

In case anyone is interested, or feels like having a look themselves, these are the pairs that are starting to look interesting to me, in the light of my earlier comments about 1-2-3's, levels etc. All on H4 BTW.

NZDUSD
EURUSD
USDCAD
USDCHF
EURGBP - not sure if it will get there but 9080 looking good to me for a possible bounce