The Captains Chest - Naked Trading & Other Stuff

[Reaper]

I went long on GBPCAD today, saw the formation of the W on the hourly chart, saw the short trapping volume. Then got caught in a 40 pip stop run...what a plonker...the market went against me 40 and then shot up 130

There are M's and W's not just at the top and bottom of each day but everywhere. M's in a downtrend, W's in an up trend.

[Captain Jack]

I just shorted the cable pin on h1.
Got two nice bearish M15 candles with almost no wick confirming sellers are back on track after a strong push up.
Comments welcome.

PS : Hope it is good, I've just read that in the Al Brooks book

You could get a little more to the top again, but not much....take a look at it on the H4...nice long stick and wick....also on the D1....they are in confluence....this leads to stronger moves...

This is where the cycle comes in....GBPUSD has had several days of rising price....this could be the start of a new 3 day cycle, maybe a weekly reversal....if it is, then there could be an extended drop, over several days....

Notice how the patterns repeat on the higher time frames....this is where you take the longer term moves from....

I'll be stacking orders on this one for weeks! Nice catch Lio!

CJ

[Captain Jack]

This one's been working out nice, got in by the pivot.

capture18.jpg

Closed as a nice pin on my eurnzd short

capture19.jpg

Sorry I wasn't around to catch this one earlier....but take a look at Lio's post on GBPUSD....he is dead on!

CJ

[mjws00]

I took today one GU trade... I attach it here. Could you CJ (or anybody) pls comment it.

Kruspe that is a perfect example of the straightaway. Jump to H4 and H1. You will see they put in a bottom. Yesterday was the first, larger move out. Tonight on the second move, they didn't want to give all the stuck money the chance, so it was just 1,2,3 Go instead of that being a fake.

They were kinda sneaky yesterday in GU as well. Timing was different. They told a beautiful story that converted me from bull, to bear, to damn guess I need to get the hell out of here they can run this HARD against my short.

It is a pretty saga of the fox teaching the flea not to get too cocky. You got the textbook followup lesson on the second day Taught in a less sneaky more abusive manner.

It is cute so If I get a chance I will mark up the junior foxy screwup.

Mike

EDIT: CJ is already going there.

[Captain Jack]

im sorry for big offtopic,
but hey, if you want to get all CJ stuff you have to go the other side of the screen
you can do it with FireFox. Bit ironic?

Hi Monkeh,

Nothing is off topic in my threads....

I see some learn faster than others!

CJ

[lhDT]

I just shorted the cable pin on h1.
Got two nice bearish M15 candles with almost no wick confirming sellers are back on track after a strong push up.
Comments welcome.

PS : Hope it is good, I've just read that in the Al Brooks book

You could get a little more to the top again, but not much....take a look at it on the H4...nice long stick and wick....also on the D1....they are in confluence....this leads to stronger moves...

This is where the cycle comes in....GBPUSD has had several days of rising price....this could be the start of a new 3 day cycle, maybe a weekly reversal....if it is, then there could be an extended drop, over several days....

Notice how the patterns repeat on the higher time frames....this is where you take the longer term moves from....

I'll be stacking orders on this one for weeks! Nice catch Lio!

CJ

Great !!
You teach us now how you stack your orders ?
I saw on some of your charts tons of orders near each others and I wonder why/how you do it.

Lio

[Captain Jack]

I took today one GU trade... I attach it here. Could you CJ (or anybody) pls comment it.

The only thing you are going to find on the 5M time frame is pain and suffering....stay on the 15M...

CJ

[Captain Jack]

I went long on GBPCAD today, saw the formation of the W on the hourly chart, saw the short trapping volume. Then got caught in a 40 pip stop run...what a plonker...the market went against me 40 and then shot up 130

There are M's and W's not just at the top and bottom of each day but everywhere. M's in a downtrend, W's in an up trend.

Post a chart with your entry....I was long GBPCAD and made green pips....now I'm short...

CJ

[lhDT]

For the trendline fans, here is a nice set on AU.
Question of the day is : Is it possible to draw a 90° trendline ?
Answer : No !
Action : Down

[Captain Jack]

I just shorted the cable pin on h1.
Got two nice bearish M15 candles with almost no wick confirming sellers are back on track after a strong push up.
Comments welcome.

PS : Hope it is good, I've just read that in the Al Brooks book

You could get a little more to the top again, but not much....take a look at it on the H4...nice long stick and wick....also on the D1....they are in confluence....this leads to stronger moves...

This is where the cycle comes in....GBPUSD has had several days of rising price....this could be the start of a new 3 day cycle, maybe a weekly reversal....if it is, then there could be an extended drop, over several days....

Notice how the patterns repeat on the higher time frames....this is where you take the longer term moves from....

I'll be stacking orders on this one for weeks! Nice catch Lio!

CJ

Great !!
You teach us now how you stack your orders ?
I saw on some of your charts tons of orders near each others and I wonder why/how you do it.

Lio

I really don't have any hard rules Lio. When I catch an order up on top of those pins and it starts moving the right way, I will add or pyramid orders as price moves my way. I will have a preset "watch" area, where I think there may be a pause or retrace of price. Many times, I will close all the stacked orders there, wait for the retrace and start stacking again. You have seen me do this on D1 charts mostly, where I my orders are surfing the trend, up or down. I like short's better, as they tend to more violent with a quicker drop than the rise. There are times when I will close an older order, and reopen another...this helps to build my equity and tend to margin concerns when I'm pushing my limit. There have been times in the past, when I have no orders in draw down, that I will push margin right to the very limit....any retrace in price will close orders that are well in profit, or act as an "emergency stop" and close all open orders.... I do this when I'm swimming in the green pips and approaching an area where I think price will back track a bit....when it does, all my orders are closed in profit and I reload them when price finishes the retrace and starts moving again. It is "normal" for me to be using 95% and more of my margin when I'm stacking...

Most people would think this crazy but most people won't have 20-30 orders open, and all in profit....

This works for me and the way I trade. I would not say it would work for anybody else. That's why 'm not putting forth my trading style, just knowledge that I have acquired in my forex journey, that may be of benefit to others. This stuff is generally not for novice traders. I would consider it advanced to say the least.

I suggest everybody who is trying to learn this, do it on a demo account. It's like Steve says in his EA disclaimers.....YOU WILL LOSE YOUR MONEY, so lose demo money until you are nailing the trades.

CJ