The Captains Chest - Naked Trading & Other Stuff

[Patrysbgc]

Hello guys,

First and foremost, I want to apologise, if my post is too noob. By "noob" I mean containing too basic questions, but this is undoubtly the best place to ask them if you don't want this kind of stuff, I promise to figure this out by myself and be back after I'll get more proficient

I'm actually quite new to CJ's teachings - I've heard about him about last summer, on Polish forex forum, but a bunch of haters that probably haven't properly understood him, really discouraged me from following.
Regardless, I decided to go in deeper into Captain Jack's material. I already have my trading system (nothing special, just trading PA and s/r at M1/M5 with H1/H4 analysis) but it's really time consuming... And returns are, actually, more than humble, especially comparing to the time I spend on trading.

OK, enough of this Hollywood'ish BS

I just finished reading "Captains chest naked trading updated 22_7_13.pdf". I'm going to read it again and again for few more times, after narrow mind digests contents, but these are the doubst I'm having now anyway:

- What is the most common way to find a level? CJ seems to have this skill developed so well, that he won't explain it in the form of definition. What are the best ways of finding levels for newbies?

- Should one level always be preceeded by 3 pushes?

- How to tell the difference between a level and a stop hunt?

- Can stop hunt occur only after Asian session?

- Can one level be situated at the similar level (sorry for repeating, I'm not native English speaker and my vocabulary is limited ) as the previous level? Say, can rectangles drawn on them interfere?

- What should I do if price doesn't reverse after 3 levels? Treat it as an anomaly and switch to another pair? Or is it me that did something wrong

These are the basic questions, that I struggle with now. Do you know any of the answers?

Cheers, Guys!

[Lowphat]

Hello guys,

- Should one level always be preceeded by 3 pushes?
from my experience Yes but some pushes can look very different causing miss counts

- How to tell the difference between a level and a stop hunt?
SH for me is usually sharp pointy formation or a head-fake between levels. i usually look for a head-fake between 2nd level and your peek reversal formation (W/M Crown etc.)

- Can stop hunt occur only after Asian session?
it can happen anytime between levels.

- Can one level be situated at the similar level (sorry for repeating, I'm not native English speaker and my vocabulary is limited ) as the previous level? Say, can rectangles drawn on them interfere?
i don't like levels that are too close but that may be a personal preference.

- What should I do if price doesn't reverse after 3 levels? Treat it as an anomaly and switch to another pair? Or is it me that did something wrong
its you bahaha. don't try to force levels. if its unclear find a pair that is.

These are the basic questions, that I struggle with now. Do you know any of the answers?

Cheers, Guys!

also u can look for other pairs with the same shared currency and see if they share the levels you are looking at for confirmation. use price action to confirm a level for confluence. use a higher or lower time-frame to see where you are in the larger and lower TF cycle. may help to start counting at peak high or low to see where you are at in the cycles. take everything i say with a grain of salt as sometimes hit a level perfectly and other times i miss count and go in 1 level to early.

[Jemook]

^ I really like that tip of looking for a shared currency pair where the levels might be more obvious. Thanks

[dydynamic]

AUDNZD-H1

[Patrysbgc]

OK, so I managed to set levels for dollar majors by myself. I switched to line-chart, as CJ advised.
Mostly post factum analysis, so I think I didn't screw it up Would you please make any comments?

[bubblegumman]

Thank you Captain for your great insight. Thank you to the others for your contributions as well. I have read the pdf files and the wjord doc. I understand the concept of tracking the fox. I live in the eastern timezone of the USA. When I arrive home from work the trading day is soon over and another one starting. I need some guidance on trading the larger time frames. I work during the day so I can't watch the market. Any help would be appreciated.

[xrismak]

Thank you Captain for your great insight. Thank you to the others for your contributions as well. I have read the pdf files and the wjord doc. I understand the concept of tracking the fox. I live in the eastern timezone of the USA. When I arrive home from work the trading day is soon over and another one starting. I need some guidance on trading the larger time frames. I work during the day so I can't watch the market. Any help would be appreciated.

bubblegumman,
Simply Trade from Peak High or Low H4 Timeframes with A Tight SL of 35 to 50 Pips from entry using small lot sizes.. soon you will find your comfort zone with Currency Pairs that don't fly like they are in the Grand prix races and you will begin to Earn yourself some Cool \Coins...

Just my 2 cents anyway.


Happy Trading ,

xrismak

[bubblegumman]

Thanks Xrismak! I am not new to forex but my eyes have been opened. So glad I found this forum.

[SteveHopwood]

Thanks Xrismak! I am not new to forex but my eyes have been opened. So glad I found this forum.

Welcome to a new world.

[xrismak]

Thanks Xrismak! I am not new to forex but my eyes have been opened. So glad I found this forum.

bubblegumman,

I trade and Show Live Trade Examples, if I can do it so also Can you...

there you go... Hope this Chart helps to Drive home my Point.

AUD-CHF @ 02-23-53 as at 01-04-17.png

A-C Clearer.png

Happy Trading,

xrismak