The Captains Chest - Naked Trading & Other Stuff

Post by **matt_32** » Fri Oct 09, 2015 5:28 pm

Captain Jack » 09 Oct 2015 19:23 wrote:
matt_32 » Fri Oct 09, 2015 1:11 pm wrote:
sympathy » 09 Oct 2015 16:31 wrote:
forexnerd11 » Fri Oct 09, 2015 1:34 pm wrote:Hi sympathy any reason behind multiple positions at same price point. Is it for scaling purpose ?
thanks
Once i see a nice setup, i place as much as i can bcos i know i will win it.you can double your account in a day but if you fail, hmmmm is gona be a problem to your account

Sympathy ,
I was wondering that too. Please explain why don't you use higher lot sizes and you prefer a lot of smaller entries at the same point.
I mean why you enter with 5 trades of 0.10lots instead of one trade of 0.5lots ?

Thanks in advance
Matt

I do the same thing...the reason I place multiple trades at or near the same point is because I am not risking a huge initial trade and exposing myself to a larger loss if I am wrong. I place a trade, and if it performs as I think it should, I add more orders. I will continue to add orders once the trade confirms and starts moving in the intended direction. If I'm wrong on my initial order, I take my small loss and move to the next setup.

Sympathy can confirm this I believe, but there is a "rhythm" to these trades... it's almost like a song, a dance or movie that you have seen before. Once you pick up on this "rhythm", you will know when that initial trade is correct or not, just the same as you know the next note of the song, the next step of the dance or the next scene of a movie that you have seen multiple times.

-CJ-

Thank you CJ

Matt

Post by **fahedksa** » Fri Oct 09, 2015 5:32 pm

I Hope soe one help me in these Question:
CJ mention many time " Don't trade Asian range .wait price move to move 25-40 pips above/below Asian range for a setup" but i saw many trades not follow these rule.Can you please explain to me why?Is these rule apply only if we trade 15M ?

Post by **sympathy** » Fri Oct 09, 2015 5:50 pm

fahedksa » Fri Oct 09, 2015 6:32 pm wrote:I Hope soe one help me in these Question:
CJ mention many time " Don't trade Asian range .wait price move to move 25-40 pips above/below Asian range for a setup" but i saw many trades not follow these rule.Can you please explain to me why?Is these rule apply only if we trade 15M ?

They all follow the-same steps. normally Asian section is for consolidation or accumulation so you don't need to trade them because the movement is too slow and choppy. some levels moves straight away without accumulation which come during level 2. we have straightaway moves for some pairs but levels 1 and 3 always accumulates during Asian sections.
Accumulation happens in all time frames but its easier to see on 15min. other time frames takes time to accumulate while 15mins accumulates faster.

Captain Jack · Post by **Captain Jack** » Fri Oct 09, 2015 6:15 pm

fahedksa » Fri Oct 09, 2015 1:32 pm wrote:I Hope soe one help me in these Question:
CJ mention many time " Don't trade Asian range .wait price move to move 25-40 pips above/below Asian range for a setup" but i saw many trades not follow these rule.Can you please explain to me why?Is these rule apply only if we trade 15M ?

It takes transactions to move price and there are not enough transactions during Asian to move price a great distance... Asian is for resetting the high and low...

-CJ-

Post by **fahedksa** » Fri Oct 09, 2015 6:17 pm

Thank you CJ and Sympathy

Post by **sympathy** » Fri Oct 09, 2015 6:28 pm

Just taking it slow. i know that one day am gona see my master CAPTAIN :hi:

Post by **sympathy** » Fri Oct 09, 2015 6:32 pm

Captain Jack » Fri Oct 09, 2015 7:15 pm wrote:
fahedksa » Fri Oct 09, 2015 1:32 pm wrote:I Hope soe one help me in these Question:
CJ mention many time " Don't trade Asian range .wait price move to move 25-40 pips above/below Asian range for a setup" but i saw many trades not follow these rule.Can you please explain to me why?Is these rule apply only if we trade 15M ?
It takes transactions to move price and there are not enough transactions during Asian to move price a great distance... Asian is for resetting the high and low...

-CJ-

Thanks captain

Post by **jedrula** » Fri Oct 09, 2015 6:57 pm

sympathy » 09 Oct 2015, 20:28 wrote:Just taking it slow. i know that one day am gona see my master CAPTAIN :hi:

Hey Sympathy,

Can you explain why you have selected Level 2 at this level and do not like red 2? What is the reason to skip counting red level2 ?

uch60.png

I made a mistake in counting levels but do not know why.
Why my count is wrong ?

uch240.png

Post by **jedrula** » Fri Oct 09, 2015 7:17 pm

jedrula » 09 Oct 2015, 20:57 wrote:
sympathy » 09 Oct 2015, 20:28 wrote:Just taking it slow. i know that one day am gona see my master CAPTAIN :hi:
Hey Sympathy,

Can you explain why you have selected Level 2 at this level and do not like red 2? What is the reason to skip counting red level2 ?

I made a mistake in counting levels but do not know why.
Why my count is wrong ?

ok, nevermaind...

I think I know the answer ... It was not a level. Level must make a new H or L?
or each Level at H1 "must" have 3 pushes down and 3 pushes up at M15 ?

IanN · Post by **IanN** » Fri Oct 09, 2015 9:19 pm

sponn » Thu Oct 08, 2015 7:37 pm wrote:Gus I have ade 21k from 1,5 k in 5 months using hgi. Then I lost everything.

Second time I have made 9,5 k from 1,5 k in 8 trading days.

I lost everything.

I just cant trade. It is just a rulete for me. Looks like I can;t learn from my own mistakes.

Anyway thx for good words.

PS. I have got 200 usd left. I'm not ging to put any more money into forex. If somebody is able to help me then send me PM. I don't want the money of course but if somebody has got some time to spare and can give me a hand would be great.

Sponn, this may seem like the worst day in your life but some time in the future you may see it as the best. You only have one option now and that is to take Sympathy's advice. Trade with a demo account. Work out these patterns and why you cannot use them.

I can see these patterns, but at the moment I cannot use them because I am trying to trade like CJ, Sympathy and Dudest.

How many times have they told us not to do that. I've just read all 1020+ pages of this forum and have learned so much. I made notes on every single page and copied loads of patterns into a Word document. I am now going through these to train myself to recognise them but also to trade with patience - MY WAY.

Over the next few weeks and months I will restart my trading and post my trades in this forum. BUT - only when I have practiced and practiced. Do the same my friend, do the same on that demo account.

The Captain has provided a gold mine here I am sure. As hard as it seems, go back and look at your losing trades. The answer is in these and once you understand what you have been doing wrong, use that demo account to gain your confidence back.

Plan your way forward - and above all, stay safe. We are all friends on the same journey here and we do feel your pain. God bless you.

Regards

Ian N.