NAKED TRADING-CLASSIC SUPPORT n RESISTANCE

[gym_midas]

I m currently trade using basic,simple but yet profitable system-using yr eyes to spot the role reversal of support n resistance.............

I' welcoming those who are using same or similar technique........next post will follow

[drbsprasad]

i do have the details of this system. will you post them to me

[jdp2011]

What indicators do u use to determine support resistance? At what point do you make an entry and an exit? Please explain the details and tell if you are profitable with this system. thx

[drbsprasad]

Originally Posted by jdp2011

What indicators do u use to determine support resistance? At what point do you make an entry and an exit? Please explain the details and tell if you are profitable with this system. thx

i use fractal support n resistance ,parabolic.ac.ao.ema's 16,32,64.stochastic(120,3,3.)stochastic(15,3,3.)on balance volume,

depending on the atr(16) on 5 min number that i arrive i fix it w%,that is for example,if atr(16) 0.0009,is shown 5 min the my w% is fixed to 9 it varies time to time depending on atr value

[drbsprasad]

i do not know how send attachments to this forum,otherwise i would have posted my chart fewer ea's to the form which i am using for the benefit of forum members

[gym_midas]

Originally Posted by jdp2011

What indicators do u use to determine support resistance? At what point do you make an entry and an exit? Please explain the details and tell if you are profitable with this system. thx

Naked = no indicator................entry based on the role reversal of support n resistance.....in this case EJ......sell when support became resistance......SBR spotted

exit ......intermediate low ( support )

[drbsprasad]

Thank you, what are the indicators you use,can you explain the system in detail

[gym_midas]

Originally Posted by gym_midas

Naked = no indicator................entry based on the role reversal of support n resistance.....in this case EJ......sell when support became resistance......SBR spotted

exit ......intermediate low ( support )


Attachment 60

update........SL +1...........now +80


:):):):)

[gym_midas]

Originally Posted by drbsprasad

Thank you, what are the indicators you use,can you explain the system in detail

naked- no indicator

[gym_midas]

Originally Posted by gym_midas

update........SL +1...........now +80


:):):):)

update......SL +100...........now +155

[giveitnowfx]

good trade! :)

[jolewis1]

your trades do not show the EMA's or other indicators that you mentioned. could you post the template?

[gym_midas]

Originally Posted by jolewis1

your trades do not show the EMA's or other indicators that you mentioned. could you post the template?

again,naked means no indicators,no tempate.......just horizontal lines

[fcmtrader]

After the enormous number of posts in many different forums regarding the usefulness of this indicator or that indicator, the bottom line is this:

The best indicator for determining price action is.......price!

I have seen some very complicated setups but simple is best.

(just my 2 cents)

[~fade~]

Originally Posted by fcmtrader

The best indicator for determining price action is.......price!

It's funny. For the longest time I had no idea what that meant.

The best way to predict the weather is... the weather.
Is it cloudy outside? Has it been cloudy before? Did it rain the last time it was cloudy? Is it going to rain? 50/50 chance of getting it right.

On the other hand... is it sunny outside? Has it been sunny before? Is it Thursday? What's quarter of the moon are we in? Does the month begin with J or A? Is today's date less than 1/3 of the total number of days for all months that begin with the same letter as the current month? What color shirt are you wearing?
...is it going to rain?

Go figure.

[ialex]

Originally Posted by gym_midas

I m currently trade using basic,simple but yet profitable system-using yr eyes to spot the role reversal of support n resistance.............

I' welcoming those who are using same or similar technique........next post will follow

Hi,

I have been using the same technique to approach the market for one year
I know that your entries are probably made unconscoisuly(based on your eyes and pattern recognition)

but could you identify some of those patterns that your brain might use during your trading session?

Maybe we can share those figures.

[Helvetius]

Hi,

After buying (wasting?) a slew of systems and losing money, I started to really look at the charts. This was like a discovery "eureka". I began to get a feel for when price would move. Now I am going back to dig into why I "feel" this way. What are the actual clues that led to this feeling. It seems that price does reign supreme. So I am learning about SR, trend lines and maybe fibonacci. Being new at this, I am looking to share experiences (good and bad) so we can learn to judge price properly. My first post ever.

[yogitrader]

I use "SR7" (fxfisherman?)which draws horizontal support/resistance on the charts as they develop. It uses fractals to do this-it works quite well, but you have to use your brain to see if these lines are meaningful. I also use daily pivots as S/R as institutional traders use them as self fulfilling prophecies. Candle wicks tell the change in bias pretty clearly.
Indicators themselves only repeat price action through an algorithmic lens. You need to SEE this yourself on the price chart.

[Jcm]

Originally Posted by yogitrader

I use "SR7" (fxfisherman?)which draws horizontal support/resistance on the charts as they develop. It uses fractals to do this-it works quite well, but you have to use your brain to see if these lines are meaningful. I also use daily pivots as S/R as institutional traders use them as self fulfilling prophecies. Candle wicks tell the change in bias pretty clearly.
Indicators themselves only repeat price action through an algorithmic lens. You need to SEE this yourself on the price chart.

I have a stupid question? Who knows how to apply Daily Pivots to Mt4 charts? I'm new to the Mt4 platform, so that's my excuse :)

Thanks for the help!

[yogitrader]

Search for "pivot indicator" on google or yahoo. Or check the other forex forums like fx fisherman or forex TSD. I use a daily pivot indi called"pivot". It came originally from a russian site, but is in english. On my previous post, the support/resistance indi is actually "Super SR7". It draws lines based on fractal swing hi/lo candles.

[SmartFx]

"While other people are deciding if the trade is a good one, I'm already up 20 pips." Bill Ray.

This statement makes u want to change your trading style completely, if I am allowed I would like to share the following PDF from FF it a couple of post brought together to make up the

No Brainer S+R Trading

I hope it would bring success to each of us...

SmartFx
SmartKenya

[gym_midas]

First of all let us go through the term that I used in this system......first rule is trade with the trend.........

UPTREND .......> A series of rising peak and troughs ...( L,H,HL,HH and so on....)

DOWNTREND......> A series of descending peak and troughs ...( H,L,LH,LL and so on....)


H-high , L-low , HL-higher low , LL-lower low , HH-higher high , Lh-lower high


SUPPORT .....> Any part at which the market stopped going down and turned up


RESISTANCE .....> Any part at which the market stopped going up and turned down


ROLE REVERSAL-----> "Support or Resistance" become reverse, SBR dan RBS


SBR -----> SUPPORT BECOME RESISTANCE

RBS------> RESISTANCE BECOME SUPPORT


BREAKOUT-----> Price break the support or resistance and usually this is the point/line/zone where role revesal occured...............


TP -----> Target Profit

SL -----> Stop Loss


Below is the chart that explain all ........

[the liberator]

You've posted only 1 live trade, has there been no other trade since then?

Nice system, nothing works more than trading price action.

Look forward to seeing more live posts.

Shouldnt your chart be reading 'ok to sell'' and not ''ok to buy'' as indicated there?

[mas7116]

I would like to see a naked trade example from opening, take the S and R lines make directions and what decides to take a trade. Lower TF when I take etc. I have been locking for a good example but can+t find. :)

[gym_midas]

Originally Posted by the liberator

You've posted only 1 live trade, has there been no other trade since then?

Nice system, nothing works more than trading price action.

Look forward to seeing more live posts.

Shouldnt your chart be reading 'ok to sell'' and not ''ok to buy'' as indicated there?

yes....you're right....it should be OK TO SELL....:):):)

[gym_midas]

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[gym_midas]

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