The Captains Chest - Naked Trading & Other Stuff

dudest · Post by **dudest** » Thu Feb 12, 2015 7:11 am

go4pips » Wed Feb 11, 2015 4:06 pm wrote:Morning, i am really trying reading everything I can, spend hours to analyze charts, try to take trade on demo with very little positive result, what am I doing wrong not having any progress!? I even get up early as 3 am my time to be there for London open, no improvement, when I look back what went wrong OK I see it but why can't I understand before hands.

Very frustrated

Off to work to my day job.
E.

Hi E,

Take heart.

Would it help to know I burned two live a/c's trying to trade this way before the dawn arrived? [ and more before that, just like everyone else ]. Be encouraged, you don't know whether your dawn is over the hill

Lemme suggest something that will start to yield immediate results. I've said it before, and it sounds silly, but humour me. For the next two weeks, post up all your analysis (charts) and trades. When possible, post up your trades before/when you are taking them. Don't keep anything back, bring it out into the light

Profitability is not so much about technique as it is about MINDSET [way of thinking]. You'll tell me after those 2 weeks

Cheers

Post by **xrismak** » Thu Feb 12, 2015 7:37 am

go4pips » Wed Feb 11, 2015 11:28 pm wrote:Thank you for the encouragement heat, I know you right I keep remind myself 'just keep going one day will clear out everything'
my ultimate goal is to learn at least 50% of the trading method what CJ doing.

E.

Hello Go,
Try Saving all the Charts of Trades you Take , whether Profitable or Not, After 2 weeks of Saving them, Look at the Charts and Trades that Made you Coins, then Look at the Charts & Trades that Lost you Coins, turn the Charts that Lost you Coins UPSIDE Down and Look at the Patterns, I am Sure A Bulb or 2 will Light up.

Happy Trading Folks,

xrismak

https://www.fxblue.com/users/kwanann · Post by **kwanann** » Thu Feb 12, 2015 8:25 am

go4pips » Wed Feb 11, 2015 9:06 pm wrote:Morning, i am really trying reading everything I can, spend hours to analyze charts, try to take trade on demo with very little positive result, what am I doing wrong not having any progress!? I even get up early as 3 am my time to be there for London open, no improvement, when I look back what went wrong OK I see it but why can't I understand before hands.

Very frustrated

Off to work to my day job.
E.

Well in order to even begin to understand CJ's technique u really need to spend thousands of hours looking at em charts, and even then, sometimes its a roller coaster ride to DD hell.

Like dudest i burnt thru many accounts learning NT and becoming somewhat successful, there are many here who have figured out and all these new tools that allow u to bring a chart and overlay makes it so much easier.

Honestly though, it boils down to looking and looking at charts. Spend a weekend, look at all the timeframes (and all the pairs if you fancy), start from peak high/low right down to the opposite, draw, annotate, do what you need to mark the "patterns" in a form that is easy to understand, it could be numbering, it could be using line patterns, whatever works for you.

Then next week, you might come in feeling all nice and fuzzy inside, your trades might go well because you figured the pattern, and then suddenly.. YOU ARE WRONG and once again in a hell of a DD.

This is usually the part that screws up everyone. When to close a losing trade (especially when its eating into your investment rather than ur profits). Go figure, everyone has their own methods and ideas, you can hedge, martingale, close it, sleep on it. whatever works for ya. Main thing though, learn from it, learn the pattern that SCREWED you up and make sure you never ever repeat it.

Rinse and repeat the last 3 para a few times and you should be getting somewhere, may not be profitable, but somewhere

Good luck

EDIT: Well thanks to you, i opened Empty4 and a SH was in progress~, TBH in the lower TF (M15, H1) they are buys, well i'm just lazy and following the wayy higher TF

dudest · Post by **dudest** » Thu Feb 12, 2015 8:42 am

kwanann » Thu Feb 12, 2015 1:47 am wrote:
dudest » Thu Feb 12, 2015 12:27 am wrote:
Was too early on USD shorts.

I think the only good timing was on USDCAD [ hit 73.6 and formed a nice bearish pinbar on H1 ]

Let's see if the rest will start turning
It all depends on your timeframe.. mine is the monthly and weekly and nothing there says to go long. If it does go long, i'm just waiting for the top to form and then i'm shorting them

Operating mostly from the H4

They've finally kicked in

20150212_usdjpy_h4_levels_shorts.png

20150212_usdcad_h4_levels_shorts.png

.

https://www.fxblue.com/users/kwanann · Post by **kwanann** » Thu Feb 12, 2015 8:47 am

haha dudest

PERFECT example of how the TF affects trading decisions, you are happily shorting the pair based on H4, i'm long UJ.

Difference though, i've shut Empty4 and have no intention of looking at them till probably monday

Jurij · Post by **Jurij** » Thu Feb 12, 2015 9:59 am

More upside on GBPAUD 4H?

Jurij · Post by **Jurij** » Thu Feb 12, 2015 10:10 am

Something strange: GBPAUD 4H predicting the 30M chart? (usually it's the other way around, 30M predicting 4H).

Interesting once the 30M prints more bars than the 4H chart (since 30M is faster) then the 4H will start following the 30M chart? I'm a bit confused how this is possible... But if you think about it, once a pattern does repeat on a smaller time frame, there is a point where the bigger time frame is not yet reached by the smaller one...

GBPAUD 4H-30M.png

ps. GBPAUD is going down on 30M so maybe the drawn bottom is not yet the ultimate one...
EDIT: and now back up with GBP news, so definitive bottom should be in place now...

dudest · Post by **dudest** » Thu Feb 12, 2015 11:31 am

GBPAUD: Watch out for a rejection short trade at VBRN 2.0000

go4pips · Post by **go4pips** » Thu Feb 12, 2015 11:42 am

Thank you for all of your support and advise, I take everything very serious and follow through as time and opportunity present it self.

I shouldn't be inpatient, sorry.

E.

dudest · Post by **dudest** » Thu Feb 12, 2015 12:09 pm

Jurij » Thu Feb 12, 2015 1:10 pm wrote:Something strange: GBPAUD 30M predicting the 4H chart? (usually it's the other way around, 30M predicting 4H).

Interesting once the 30M prints more bars than the 4H chart (since 30M is faster) then the 4H will start following the 30M chart? I'm a bit confused how this is possible... But if you think about it, once a pattern does repeat on a smaller time frame, there is a point where the bigger time frame is not yet reached by the smaller one...

ps. GBPAUD is going down on 30M so maybe the drawn bottom is not yet the ultimate one...
EDIT: and now back up with GBP news, so definitive bottom should be in place now...

Very cool Jurij!