The Captains Chest - Naked Trading & Other Stuff

[Captain Jack]

JEN Pairs again heavy

You did close those UJ shorts didn't you ?

CJ

Back from my own bbq... Those trades had tight Stops so no Big Deal.
I didn't have much Time to trade so I'm quite happy with the Results.

Have a nice Weekend.

Edi

I closed em A slightly more cocky version may have reversed as well. The bottom was pretty.

Have a great weekend all. Was fun watching some awesome trades. Mine were mellow and of less volume. Often a strong start to the week inspires me to take it a little easy and be less vampire like.

Mike

Glad to hear you had a good week Mike. Hope next week is as good or better!

CJ

[Reaper]

Im very glad I didnt trade in the afternoon, after my nap I checked the charts and they werent that pretty at all. Congratz on the pipage guys. Tomorrow I'll post some charts of my potentials for Monday. Feel free to do the same, researching in advance is so helpful especially to a nooby trader like me.

[Captain Jack]

Its been a GREAT week for me. Just waiting to ride with foxy back down into NY consolidation on the GU and I'm done.

THANK YOU again CJ for leading us all out of the fog

Have a great weekend - you deserve to get that moonshine out of the freezer now

Lara

That's good to hear Lara! Always nice to see people making a profit in this business. What we take is but a small drop in the massive forex market. Taking a few hundred or thousands of dollars a day, pales in comparison to the trillions that change hands and the profit they take from those transactions.

My pullback trades paid off well as the fox crawled right into my bed as I slept. I've got some AU trades that didn't close out so I'll have to see how they do come Monday. Gap should go in my favor but spread will determine if they close on their own when the market opens.

Now, it's time to 'shine!

CJ

[Captain Jack]

Im very glad I didnt trade in the afternoon, after my nap I checked the charts and they werent that pretty at all. Congratz on the pipage guys. Tomorrow I'll post some charts of my potentials for Monday. Feel free to do the same, researching in advance is so helpful especially to a nooby trader like me.

Directional bias needs to change as price direction changes with the sessions. There is always a pullback into the range session. Friday's pull back leads to Mondays Asian range session. Stop hunts tend to occur when the session market makers change over from one session to the next. It's how they lock traders in a range while a different fox takes lead in the chase. Look at when the stop hunts took place Friday. Between 9-9:30am....when London turns over to NY....check the charts and remember this....it's a good thing to know.

Dead time is the best time for looking at charts. We don't get distracted by price movement when doing so. Each chart is a record of what price did...a story if you will. Like any book, if you flip through the pages quickly, the details of the story are lost. Each page has to be read in order to understand not only the story but the characters that comprise the story.

Post some charts if you find any interesting stories as I'm sure those here would enjoy reading along!

CJ

[Reaper]

Total profit for the day, CJ? You made some crazy dollars today.

[Reaper]

Im very glad I didnt trade in the afternoon, after my nap I checked the charts and they werent that pretty at all. Congratz on the pipage guys. Tomorrow I'll post some charts of my potentials for Monday. Feel free to do the same, researching in advance is so helpful especially to a nooby trader like me.

Directional bias needs to change as price direction changes with the sessions. There is always a pullback into the range session. Friday's pull back leads to Mondays Asian range session. Stop hunts tend to occur when the session market makers change over from one session to the next. It's how they lock traders in a range while a different fox takes lead in the chase. Look at when the stop hunts took place Friday. Between 9-9:30am....when London turns over to NY....check the charts and remember this....it's a good thing to know.

Dead time is the best time for looking at charts. We don't get distracted by price movement when doing so. Each chart is a record of what price did...a story if you will. Like any book, if you flip through the pages quickly, the details of the story are lost. Each page has to be read in order to understand not only the story but the characters that comprise the story.

Post some charts if you find any interesting stories as I'm sure those here would enjoy reading along!

CJ

Spoken like a true poet! Thanks. I'll do some posting tomorrow. I think one interesting pair will be AUDCAD, I think we have hit the high on the daily. There is a RTT. We may see a H&S pattern forming on the hourly with a drop during the london session. I'm not sure but its possible. What you think?

I hear what your saying regarding the reversals, I'm not sure its 100% of the time though. It's a high number I agree. But are you saying that the reversal into the range is a hell of lot more likely on friday, end of week? Now that I can believe. I'll check some charts.

[Reaper]

I'm going to change my session indicator timings. I know when the sessions are, however I think visually the indicator might be more useful to me if it only shows the rough time range of when these stop hunts usually occur.

6-9 GMT
12 - 15 GMT

Would you agree that these timings are about right?

[Captain Jack]

Total profit for the day, CJ? You made some crazy dollars today.

Not every day is like today....you take what they give you.

Don't get hung up on the numbers....after all it's just "play" money. People get distracted by numbers, whether it's high pip totals or $$$ amounts. Like indicators, they look at something that draws their vision away from what they should be watching.

I said earlier, I don't link my live accounts anymore. I mirror trades from my real accounts to some of these demo accounts as well as place trades in the demo that may or may not go into my real accounts. I have 6 real accounts, spread across many brokers.

I left a very good job with fantastic benefits , that would have paid me over a million dollars for 5 more years. I walked away from that and this is how I make a living now, at home with my wife. I thank the Lord each and every day for the ability and opportunity to be able to do so.

Believe me when I say I could bury you under pages of statements with trades of lot sizes of .01
Blew many accounts on the road of my education that way. Not anymore.

CJ

[Captain Jack]

I'm going to change my session indicator timings. I know when the sessions are, however I think visually the indicator might be more useful to me if it only shows the rough time range of when these stop hunts usually occur.

6-9 GMT
12 - 15 GMT

Would you agree that these timings are about right?

The template Pueo posted has these "gap times" highlighted....the times that the market makers turn control over from one session to the next.

London to NY is 9:00 to 9:30am
Asian to London is 3:00 to 3:30am

Those are NY times.

CJ

[Lifesys]

re ScaledInPendingTrades with risk based volume.
CJ
You have inspired me, as a mathematician & grateful learning trader, I jigged a Scaling trade Script (from tigpips FF) to suit the style we are honing. At a price on a chart, drop a series of scaled-in Pending Orders at preset intervals with SL & TP. Added features incl fixed(yellow), logarithmic(blue) or linearly(magenta) reducing Vol. for any number of child pending trades. SL & TP can be same price or relative to each trade start.

ScaleVolume.gif

Best feature for learners (like me) is option that Total Volume of series be %Account Risk based, so each trade is auto calculated relative to total RiskPercent, enabling safer scaling of pending orders whilst we build.
I find this increases confidence to drop a series on the chart. If pending trades do not fire (some missed last night) invoking ScalingScriptCloseALL can close All(Yes) or delete PendingOnly(No) trades with corresponding MagicNumber on that sheet.
Strongly advise 'ReadMe' first, if new to scaling. Guide notes attached.
May be useful to others & a way of saying thanks as we work toward our 'green' chart history

Edit - better version here
http://www.stevehopwoodforex.com/phpBB3 ... 669#p53669