The Captains Chest - Naked Trading & Other Stuff

[lilac]

Check out this news gap on USDCAD

usdcad-news-gap.png

I thought gaps only occured when market was closed. There was a very strange gap on silver xagusd too yesterday night, it was going down, and suddendly price appears up there, about 25 pips higher.

[patman]

The attached (slightly) modified indicator might be useful. I replaced Dibs with Day and it will draw a day rectangle automatically. Might save you some time

pat

[banteka]

This is my first video in ENGLISH explaining how do I identify the weekly cycle. Please, excuse my poor english pronunciation but here in Spain there are few people speaking english so it is very difficult to enhance our pronunciation.

Enjoy it: VIDEO

Banteka,

Ohhhhhhhh what a very Soulful Money Spinning Voice you have got for yourself..... The Spanish Accent just oozes with Sooooooooooooooooooooo much Financial Delight .... if I was a Beautiful Damsel in a Little Financial Distress I'd marry you Instantly just for the Common Sense that comes with your Voice, but since I am not a Lady and I am Very Married I would like to Wake Right up to this Video every Morning 'cause it's like A Sweet Melody Financially to my Ears........ Well Done and Thank you, this is Soooooooo Sweet and Kind of You Your English Language, Oh What English Language.... you have just added the Word Classic to your Presentation......
I have gone Back to Look, Listen to the Video Again..... Totally Mesmerizing...

Many Thanks from Most of us here,

xrismak

And I am very married too...

Thank you boys and girls for your words. Remember one important thing: Generosity is the best investment a human being can do. The Universe (God or whatever you believe) is watching our actions and he will return to us all what we send to him. But multiplied. When CJ decided to open this thread he was balancing his own life. And all of us received what he generously sent. Now is time for the Universe to return to him, through us, his goodness.

[lilac]

When you say leverage, do you mean used or consumed leverage in open positions, or available leverage in the account?

You can have a 500 to 1 leverage available in your account an yet only use 5 or 10 to 1 in open positions, which will leave you much more free margin than the same positions in a lower leverage capacity account of 50 to 1.

I think it is the used leverage, or the size of the positions in relation with deposit, what determines the costs (swaps and commissions), and not the available leverage, but please correct me if I am misunderstanding the concept of leverage. Does unused leverage available increase any costs?

Edit: I answered myself with this: http://www.stevehopwoodforex.com/phpBB3 ... 029#p68029 so when trading small lots like me you will not even notice, but with bigger lots the available leverage will make a difference in swap costs, so worth looking at for carry trades.

Edit: Banteka your video is great, many thanks! Y los videos en castellano también muy buenos, gracias tio.

[kwanann]

Hi fok,

Firstly my apologies, having a bad day and this whole talk of swap is quite touchy to me.

All im concerned about is the fields I see in Empty4. Lot size and swap. That is the swap I.m referring to. Nothing else, not the broker's swap costs, only mine.

Leverage affects your margins, the higher the leverage the smaller the margin required per trade. Eg 1 lot @ 1:500 costs $200 margin, the same at a 1:200 costs $500 margin.

Why lower leverage is good is because it discourages over trading. Imagine I had 500$ in, with high leverage I can put in a full lot and either have a MC or win loads of pips. This also ties in with demo accounts where you can have 1mil balance and trade 50full lots.

After trading full lots in demo and earning 1000$ from a 100pip trade, what would a typical novice feel when their 1k account and .01 lot earns 10$ in the same 100pip move?

Sure if you believe Steve Mauro mmm intro video where he showed traders executing 20full lots on a 5k account and then proclaiming they earned 90k over a week of trading.

These are all part of the fox deception and psychology at play, trapping people's greed and taking away their money.

Now back to that swap column we see in Empty4. If you were to look up your broker's swap page, it is listed relative to lot size. Nowhere does it mention swap as an equation with leverage as a component. Swap=lotsize*swap rate.

So if long audusd gives you 10$ swap, if you trade 10lots you would have gotten 100$ in swap. This is just 1pip. You would have won or lost way more than swap either way.

That's it. It doesn't matter what leverage you use, the swap in the Empty4 terminal is determined by your lot size


To answer the example

Consider 2 traders, opening 1 lot long gbpusd. One is a 1:50 the other is a 1:500. At the end of the week, their position wrt that trade is the same

[zentauro67]

Nice RRT in AUDUSD Weekly.

Imagen 1.jpg

[kwanann]

Here's what i'm thinking for AUDUSD

Choppy on 1/2 aug, 3 days of rise, 3 levels (ties in with mid week reversal)

Fake W to entice longs on M15, hit the stops high 92.2, quick turn around. Nice M formation on H4, started off with Gap LOW

The only thing i dont like is the pin, not very spikey. So it might get choppy a while more before deciding to go down or up

[pips400]

Here's my thoughts on the EURUSD today.

http://www.stevehopwoodforex.com/phpBB3 ... 601#p72601

[kwanann]

Yup same here, i'm already short EU.

Peak high, 3 days cycle over last thurs, accumulation and then straightaway on friday. Everything points to short. Currently EU should be at L2, this is typically where a fake W will appear, but seems everyone is ready to short it. could be a small 40 to 50pip move today, and tomorrow will be the finale and end of 3 day cycle

Same thing happened with UJ as well, peak formation low, W formed this morning and then the reversal began

[banteka]

Here's my thoughts on the EURUSD today.

EURUSD-H1-12-Aug.jpg

A and B - were transfers, fox exiting longs and loading short
C - momentum down, fox is happy, Level 1 down
D - false break above asian high, retrace to previous significant level, looking for pins, M, topping formation etc to go short

I could be completely wrong of course, but this is my thoughts for today

Pips400

Yup same here, i'm already short EU.

Peak high, 3 days cycle over last thurs, accumulation and then straightaway on friday. Everything points to short. Currently EU should be at L2, this is typically where a fake W will appear, but seems everyone is ready to short it. could be a small 40 to 50pip move today, and tomorrow will be the finale and end of 3 day cycle

Same thing happened with UJ as well, peak formation low, W formed this morning and then the reversal began

I agree with you both. Stop Hunt to the south at this moment. Reversal in about 2 hours to the north in the LONDON session. Reversal to the south in NY session.
Maybe before going SHORT, I enter LONG during the LONDON session. Then, around the NY opening, close LONG and open SHORT. Peaks formation on candles and W and M patterns are our friends in the intraday trading.

The same in GBP/USD