The Captains Chest - Naked Trading & Other Stuff

[McNish]

Pend Trade on EG short.
D1 - Consistent pins on top. IB following. No pin on bottom yet.
H4 & H1 - pins on top after consolidation at bottom recently.
M15 - M probable formation.

[bluedog23]

aud usd m15.png

Here's one to have a look at.

[ciliano]

Probably should have set a TP

OOPS.PNG

Edit: Just learned from the mistake and hit TP on AUD volatility on a different pair

[mjws00]

Wow did they ever tag me on that one. Sitting on quiet AUD trades with stops/hedges way out of the noise, and BANG. Instant evaporation of a weeks work. Perfect timing. I literally got up for 5 minutes to let the dog out . All the stars aligned for them.

Haven't been reamed like that in a very long time. Sometimes it doesn't matter how good you are at reading them they still find a way to take a chunk. Keep deleting very short words from this post.

Mike

[bluedog23]

aud usd m15.png

Hit my TP for a quick profit and out; sometimes it happens that way and sometimes the other way.

[kwanann]

this is one of the reasons why stoploss is sometimes not preferred...

[mjws00]

Heh. They got me on that one too. Had a couple profitable shorts in there as well. They went away when we breached the highs.

That was a pretty good setup, imho. Was looking for a quickie in there.

I run with and without, but typically leave a 'backstop' if I can't monitor. Tight punchout as per the plan is fine with me all day long.

Mike

[bluedog23]

Heh. They got me on that one too. Had a couple profitable shorts in there as well. They went away when we breached the highs.

That was a pretty good setup, imho. Was looking for a quickie in there.

I run with and without, but typically leave a 'backstop' if I can't monitor. Tight punchout as per the plan is fine with me all day long.

Mike

I agree, the setup was good. I'm sure the fox cleaned house on this one both ways. I usually put a stop 20 pips above the highest pin but didn't on this one. Fortunately I did set the TP which was hit. You have to trade them as you see them.

[kwanann]

Luckily i was working so couldnt trade, but ya if i did, i would probably have been taken out at the highs.

typically i won't put SL only on pairs that i'm very familiar with, the rest, anything about 20pips sl i wont bother, i rather miss the trade. Sometimes no trade is better than trading

I guess the main thing now is we all know aud pairs can easily move 100pips or more, so any SL needs to cater for such a spike especially if you are expecting a news event

K

[bluedog23]

eur usd m15.png

One more to have a look at for a sell.