The Captains Chest - Naked Trading & Other Stuff

Post by **ZumZum** » Wed Oct 28, 2015 6:49 pm

Learned some valuable lesson today. Overconfidence + greed =

EURJPYH1.png

Should have closed before "news", as always did before. Licking the wounds of this bloodbath.

iamsovereign · Post by **iamsovereign** » Wed Oct 28, 2015 7:09 pm

I am glad I stayed out of the news today - and not just from a monetary point of view.

I have been cking the charts and I hope to learn something. All usd majors did a creep up - and the inverse majors did a slow creep down before the news. eur/usd even had a spike up a few candles back before the news.

this should give me some bias ( I would think) that the MM did this to get a wholesale price and then used the news for excuse to make the move in the opposite direction. by cking all major and minors gives me a better bias decision. I see a lot of bleeding out there today.

any comments welcome

PogMeme · Post by **PogMeme** » Wed Oct 28, 2015 7:37 pm

forexgeeker » Wed Oct 28, 2015 5:32 pm wrote:Oh,don't you guys feel excited to wait for the topping pattern...I can't wait..lol
Beautiful isn't it...

Genuinely curious.. Now what?

zacorbul · Post by **zacorbul** » Wed Oct 28, 2015 7:43 pm

Meh.....

Post by **forexgeeker** » Wed Oct 28, 2015 7:55 pm

PogMeme » Wed Oct 28, 2015 3:37 pm wrote:
forexgeeker » Wed Oct 28, 2015 5:32 pm wrote:Oh,don't you guys feel excited to wait for the topping pattern...I can't wait..lol
Beautiful isn't it...
Genuinely curious.. Now what?

I have no idea,but i'm still in...as usual it's FOMC..spike is normal,but anything can happen..I've set a mental stop...

santos · Post by **santos** » Wed Oct 28, 2015 9:03 pm

Id like to ask anyone here if they would like to talk to me in detail about the cycle counting or point me to very detailed posts about it?, its the only aspect of this that i need, and cant seem to understand it fully yet, my regards :hi:

IanN · Post by **IanN** » Wed Oct 28, 2015 9:50 pm

santos » Wed Oct 28, 2015 9:03 pm wrote:Id like to ask anyone here if they would like to talk to me in detail about the cycle counting or point me to very detailed posts about it?, its the only aspect of this that i need, and cant seem to understand it fully yet, my regards :hi:

Santos, the only thing I can say is do what I am doing - practice, practice, practice.

Look over the last five to ten pages on this thread and you will get some really great advice about counting.

The thing that has been killing me is jumping into trades before the 'M' or 'W' has been confirmed. I've seen a pin, jumped in and only to see the market move against me. I then come back the next day and see that what I have counted as a level has been a stop hunt and I've then seen that the 'M' or 'W' that I was expecting didn't actually print.

I'm now doing what many guys have said already: Demo Account trading - learn what CJ has provided (surely one of the worlds greatest teachers

) and keep a record of your daily analysis.

Seeing where I (emphasis on I ) have made a mistake in level counts teaches me more than reading posts from some of the great traders on this site - because it shows me that I am still trading emotionally rather than logically.

I could (and probably am) speaking a load of old rubbish, but one day I will be here helping other people along the journey. For now, I'll study and, if I have any questions, I just know that there are some great people on this site that will answer those questions.

Regards

Ian N.

IanN · Post by **IanN** » Wed Oct 28, 2015 10:02 pm

So, here's a question: How do you recognise, after a Level 2, that a stop hunt has happened rather than a L3?

What stops people from jumping into a trade when the SH makes a third push up - seeming to show a L3?

Regards

Ian N.

Post by **Lowphat** » Wed Oct 28, 2015 10:03 pm

zacorbul · Post by **zacorbul** » Wed Oct 28, 2015 10:34 pm

Lowphat » Wed Oct 28, 2015 11:03 pm wrote:hmm

Uncanny...could you please share that tick indicator...