The Captains Chest - Naked Trading & Other Stuff

[desibaba]

I don't know about that. Don't take my opinion for granted but looking at the higher timeframes makes me think a lot of shorts might be trapped already.

I agree with what your saying. The daily looks as like it is accumulating to go up. But if theres a scalping opportunity in the smaller timeframes then I might take it for some quick pips. Or I could just sit on my hands till the smaller cycle completes and wait for it to look to go up with the bigger cycle. Decisions decisions decisions

[Zaleske]

Yes I hear you it's hard to make it all tie together. I'm struggling too, but we'll get there.

By the way, hey there sympathy, nice trades you had today! I'm glad to see you're still diligently helping us after all this time. Thank you bro!

And I see some new talents are emerging too. Good times

[desibaba]

I think I shall come back closer to London open to make any decisions. Since the moves happen in London, all the accumulation for shorter time frames should be done by then.

[imp]

Hello guys

Last night I was in EU LONG, EC LONG, and GBPCHF SHORT. As you can see in the charts all of these became huge winners. Problem is I was stopped out before I got a chance to enjoy the ride. Anyone have any recommendations for where to place a stop loss? Or do you guys not place one at all for that very purpose? Im thinking about going forward with a fixed stop loss of 30 pips but not placing it on my chart. Instead I will allow the stop hunt to happen even if it goes past my 30 pip stop loss limit. Reason I need that stop loss of 30 pips is to help determine lot size using 2% risk. Or anyone else have something else that works for them regarding stop loss or determining lot size?

Thanks in advance

Use mental stop if you can monitor your trade.
I personally use tf h4 and D1 which i wait for the candle to close before cut my losses. Well sometimes it help when the candle close being a fakey leaving pin or stop hunt but sometimes i suffer more loss than i should.

[ChristianK]

Just a point that i myself also try to remember, which not to enter at first push/leg. Wait until 2nd leg to be formed.

I agree with what your saying. The daily looks as like it is accumulating to go up. But if theres a scalping opportunity in the smaller timeframes then I might take it for some quick pips. Or I could just sit on my hands till the smaller cycle completes and wait for it to look to go up with the bigger cycle. Decisions decisions decisions

[sympathy]

You guys are over analyzing the market, you dont need to analyze anything ok, If you understand the strategy you know what to look for. As far as am seing the pattern i will always enter my trades no matter what. I laugh sometimes when some guys will come here and start speaking big grammar about a simple market condition. WAIT...WAIT and WAIT for the pattern to present itself that is all. this strategy is all about pattern if you dont see it please dont trade.

[desibaba]

lots of interesting patterns today.

GBPAUD m15 looks decent

USDJPY m15 looks decent


lots more

[sympathy]

lots of interesting patterns today.

GBPAUD m15 looks decent

USDJPY m15 looks decent


lots more

If you see them you take them. I have taking it already so if i loose, NO PROBLEMS i wait for another one. That is how it works

[desibaba]

If you see them you take them. I have taking it already so if i loose, NO PROBLEMS i wait for another one. That is how it works

haha

you are wise sympathy

[sympathy]

Same pattern