The Captains Chest - Naked Trading & Other Stuff

Zaleske · Post by **Zaleske** » Wed Mar 23, 2016 9:52 am

Something like that.

Screenshot_20160323-105154.png

fisheggs · Post by **fisheggs** » Wed Mar 23, 2016 9:53 am

Thank you Zaleske, makes sense

GoldenFinger · Post by **GoldenFinger** » Wed Mar 23, 2016 11:37 am

Hi all, this thread seems a little quiet recently, is everyone doing good ? Personally i have been struggling , i don't know why with all the effort, i still could not fully grasp it, sometimes i may get lucky but overall i am wrong more than right. I use a stop loss of 20 pip ,when my expectation is right the price is stalking and slowly let me bleeding to death before moving to the right direction,i never was able to enter right in the pin, when i am wrong the trade will explode to negative territory very fast, i rarely get a right trade that explode immediately.

This is what i am doing before taking a trade
scanning d1 chart to get a feel of where the trend is going, i like to trade with the trend, then drop down to h1 chart to look for 3 level rise or fall, trapping volume, pins to the upside or downside (which is w or m in lower tf) , 15 min chart to look for 3 push out of asian range, and I also use some other method like abc, upper range or lower range trading, and imagining the order flow ( where bank need to push price to accumulate orders or stop people out)

But the result is not good. It is very frustrating because after all the analysis i feel mentally exhausted and i feel like i am more on guessing rather than seeing the price action as it is. Am I over-analyzing? What have I done wrong?

I am pretty sure I understand the knowledge told by CJ as I have read all his posts many times, I thought that after i read and read i was able to apply it, but i was too naive, knowing in hindsight and applying in live is totally different thing, my chart time is very limited, I think this is the reason i failed so miserably.
So I am going to put more effort in practicing my level counting skill and most importantly know where level reset occur and which level is going to hold or not.

Below is the notes i made and info that i find it useful, I truly hope someone new can benefit from it or any experienced trader can provide their input on that.
https://docs.google.com/document/d/1Vxj ... sp=sharing
https://drive.google.com/folderview?id= ... sp=sharing

thx for the patience to everyone reading this, i feel better after I speak out

Post by **dydynamic** » Wed Mar 23, 2016 12:52 pm

GoldenFinger » Wed Mar 23, 2016 11:37 am wrote:Hi all, this thread seems a little quiet recently, is everyone doing good ? Personally i have been struggling , i don't know why with all the effort, i still could not fully grasp it, sometimes i may get lucky but overall i am wrong more than right. I use a stop loss of 20 pip ,when my expectation is right the price is stalking and slowly let me bleeding to death before moving to the right direction,i never was able to enter right in the pin, when i am wrong the trade will explode to negative territory very fast, i rarely get a right trade that explode immediately.

This is what i am doing before taking a trade
scanning d1 chart to get a feel of where the trend is going, i like to trade with the trend, then drop down to h1 chart to look for 3 level rise or fall, trapping volume, pins to the upside or downside (which is w or m in lower tf) , 15 min chart to look for 3 push out of asian range, and I also use some other method like abc, upper range or lower range trading, and imagining the order flow ( where bank need to push price to accumulate orders or stop people out)

But the result is not good. It is very frustrating because after all the analysis i feel mentally exhausted and i feel like i am more on guessing rather than seeing the price action as it is. Am I over-analyzing? What have I done wrong?

I am pretty sure I understand the knowledge told by CJ as I have read all his posts many times, I thought that after i read and read i was able to apply it, but i was too naive, knowing in hindsight and applying in live is totally different thing, my chart time is very limited, I think this is the reason i failed so miserably.
So I am going to put more effort in practicing my level counting skill and most importantly know where level reset occur and which level is going to hold or not.

Below is the notes i made and info that i find it useful, I truly hope someone new can benefit from it or any experienced trader can provide their input on that.
https://docs.google.com/document/d/1Vxj ... sp=sharing
https://drive.google.com/folderview?id= ... sp=sharing

thx for the patience to everyone reading this, i feel better after I speak out

Okay Goldfinger,
Just like you, I am trying to understand CJ's method but I have come up with a new method, if you can spot W or M or Pins or RRT, then this method will be easier for us to understand.
Presently I am limiting myself to GBPAUD and EURAUD pairs, have you noticed that they both move in the same direction? Ok, now, AUDUSD,AUDNZD and AUDJPY pairs move in the opposite direction of GBPAUD and EURAUD.
Divide your chart into three equal parts and minimize three pairs of your choice into the three parts of the chart, this way you can see all three pairs at the same time eg, GBPAUD,AUDUSD and AUDJPY or EURAUD,AUDNZD and AUDUSD. Ok, wait for W to form on GBPAUD and M to form on either AUDUSD or AUDJPY to enter long on a 15 min chart, both AUDUSD and AUDJPY must be heading in the same direction which is "Downwards" and EURAUD and/or GBPAUD heading "Upwards" for a buy trade and vice versa for a sell trade.
With this method, it will be easier for us to stay with the trend and possibly make tons and loads of pips.
Please let us come up with all the pairs that move in the same direction and pairs that move in the opposite direction and apply CJ's method to them.
For me I picked EURAUD and GBPAUD to trade against AUDUSD,AUDNZD and AUDJPY cos their volatility is very high and their ADR range is always above 100 pips.
May the pips be with you.

PS: I am applying this method on a small live account.

Post by **sympathy** » Wed Mar 23, 2016 1:16 pm

GCAD.......

Post by **sympathy** » Wed Mar 23, 2016 1:18 pm

Post by **sympathy** » Wed Mar 23, 2016 1:20 pm

Post by **sympathy** » Wed Mar 23, 2016 1:21 pm

GoldenFinger · Post by **GoldenFinger** » Wed Mar 23, 2016 4:56 pm

sympathy » Wed Mar 23, 2016 9:21 pm wrote:UJ

OMG, sympathy, i can't believe I can actually understand why u took the trade u posted, the thought strike me suddenly, if i am not mistaken GCAD, NCAD, UJ is third level buy , plus drop out of asian range , W and trapping volume. AU is third level sell, u saw price hold so u sell immediately. I noticed that on any timeframe there are many minor level and push , when a level hold or break it will always stop at previous level, so we will know whether it is a continuation or reverse, please correct me if I am wrong. And thank your for your chart, u help me a lot ! :hi:

GoldenFinger · Post by **GoldenFinger** » Wed Mar 23, 2016 5:07 pm

dydynamic » Wed Mar 23, 2016 8:52 pm wrote:
Okay Goldfinger,
Just like you, I am trying to understand CJ's method but I have come up with a new method, if you can spot W or M or Pins or RRT, then this method will be easier for us to understand.
Presently I am limiting myself to GBPAUD and EURAUD pairs, have you noticed that they both move in the same direction? Ok, now, AUDUSD,AUDNZD and AUDJPY pairs move in the opposite direction of GBPAUD and EURAUD.
Divide your chart into three equal parts and minimize three pairs of your choice into the three parts of the chart, this way you can see all three pairs at the same time eg, GBPAUD,AUDUSD and AUDJPY or EURAUD,AUDNZD and AUDUSD. Ok, wait for W to form on GBPAUD and M to form on either AUDUSD or AUDJPY to enter long on a 15 min chart, both AUDUSD and AUDJPY must be heading in the same direction which is "Downwards" and EURAUD and/or GBPAUD heading "Upwards" for a buy trade and vice versa for a sell trade.
With this method, it will be easier for us to stay with the trend and possibly make tons and loads of pips.
Please let us come up with all the pairs that move in the same direction and pairs that move in the opposite direction and apply CJ's method to them.
For me I picked EURAUD and GBPAUD to trade against AUDUSD,AUDNZD and AUDJPY cos their volatility is very high and their ADR range is always above 100 pips.
May the pips be with you.

PS: I am applying this method on a small live account.

Hi dydynamic, I hope sooner or later both of us can managed to master CJ method , your new method seems interesting, definitely will look into it, all the best in trading!