The Captains Chest - Naked Trading & Other Stuff

[dudest]

Thank's anyway
Today eur up before big fall in next week.
Eurjpy my target to start build shorts is 130.00(big round number,and I'm pretty sure fox will catch sl over 130)

Got in EJPY at 130.00 as well [ BRN + 73.6 retrace ]

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20150427_eurjpy_h1_brn+abc_shorts.png

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[dudest]

what means that rapid movement on EU?

At about the time you posted, London had just opened

Those rapid movements are stop hunts and sucker plays by the British foxes

[dudest]

what means that rapid movement on EU?

At about the time you posted, London had just opened

Those rapid movements are stop hunts and sucker plays by the British foxes

Case in point:

20150427_eursek_h1_shorts_from_d1_abc.png

http://forex.timezoneconverter.com/

[bodring]

Thank's anyway
Today eur up before big fall in next week.
Eurjpy my target to start build shorts is 130.00(big round number,and I'm pretty sure fox will catch sl over 130)

Got in EJPY at 130.00 as well [ BRN + 73.6 retrace ]

...

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Hi, Dudest, always a pleasure to see your insights on markets. I want to ask your tp targets, how do u define them? And also a question about the stacked orders. What do u do in case of rapid moves down trigerring some of your orders and reversing, how do u deal such situations? Very much grateful for your wisdom.

[go4pips]

@dudest If I may ask, what are you doing if you have a dozen or so position and price pattern failed, price move opposite to you? Reduce/close/? What is yours trade plan in this case?

Hi Darkst,

Depends on my margin, and gut feel on whether pattern 'failure' is temporary or far-reaching

E.g. yesterday, I cut the losses to stem the bleeding. Today the picture is still looking EURO short, USD long (to me) so have re-entered

Most times, if I have positive trades to cover the many in DD, I just clear the slate, and pick the best to re-enter

Cheers

Hi bodring, some one else ask part of your question here is Dudes answer.
E.

[sympathy]

ITS JUST DESAME

[sympathy]

UJ H1

[dudest]

USDCAD M30

20150427_usdcad_m30_abc_longs.png

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[dudest]

Hi, Dudest, always a pleasure to see your insights on markets. I want to ask your tp targets, how do u define them? And also a question about the stacked orders. What do u do in case of rapid moves down trigerring some of your orders and reversing, how do u deal such situations? Very much grateful for your wisdom.

Hi bodring!

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When I use TPs, they are mostly defined/because of potential reversal zone (S/R, Fibs) in the path of the trades ( e.g. if GBPNZD is approaching 2.0000 and I'm long, I will TP my buys there ).

A number of times, I also define them based on the gain I'm after ( e.g. if I've heavily stacked, a move of say 100 pips can bring what a move of 500 pips would have brought had I not stacked ). Green pips only remain green when banked, so a measure of contentment goes a long way (IMHO)

I have made a decision to let trades run more often though, given that most reversals don't just happen (the a-b-c stop-hunt being a case in point). For example, the GBPNZD and EURNZD trades from last week: stacking 0.1 lots every 10 pips on a 5k account (conservative approach) would have brought in 30K USD if I'd left them to run to their logical conclusions ( GNZD: 600 pips in 3 days ). Hence modifying my approach to get better.

==

About how I stack: stacking is down to what risk one feels comfortable with (CJ re-iterated that quite a bit). We all stack differently, and with different position sizing.

For my (lazy) self, I decided that if I think I've gotten the direction of the next swing right, I might as well just lay a ton of pendings in price's path (esp because I'm not in-front of my PC the whole day). This method is a BLUNT INSTRUMENT, and the price to pay for that is some DD when price triggers orders and reverses for some time before continuing. I don't mind DD if my margin can handle it. For me, DD is an acceptable cost to making a good amount of $$ when trading. So I just try to control how many pairs I'm trading at a given time ( not always easy )

My ideal setup is getting an A-B-C when it's at 'C' (and around 61.8, 73.6 retrace). Then I can get in heavy with very little or no DD at all. Similar to getting in at a Level retrace at the same 61.8, 73.6

==

PS: this page contains alot of insight on how CJ stacks his trades:
http://www.stevehopwoodforex.com/phpBB3 ... start=5100

Cheers :hi:

[dudest]

USDCAD M30


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Invalidated. Losses cut