The Captains Chest - Naked Trading & Other Stuff

[rozmer]

YES DYDYNAMIC ,it looks good to me busy forming level 3 and then accumalating for the next movement.I am in right at the top with 3 shorts.
Regard Rozmer

[xrismak]

please can someone confirm that this counting is correct? :hi:

Dydynamic,

Absolutely Splendid and Right Count Chart Marked in the Right Places.....well done ,( One Thing is almost for Sure, Right at about the Spot you put Number 3, you will almost certainly get a Reversal going back up it's a Probability but look out for that Reversal before it Drops Down for the 3rd Level) but I am Jealous...

Yeah now for the Business of

Hello:

USD-JPY @_22-50-35 on 15-05-17.png

And Goodbye...


Happy Trading Folks,

xrismak
N.B,
Michoz, Check your PM....

[dydynamic]

maybe this will happen...

[rozmer]

Rozmer

[GT3RS]

OK! Some [very] amateur analysis:

H4/D1 I see 3 levels up and possibly the makings of an M [price has just spiked through the previous high].

M15, I see 3 levels up and possibly an M.

Am I even remotely close!!!???

[MikeB]

GT3, I'm seeing the same thing as you on the levels. I also have this notorious CJ map in the arsenal as a guide to use with the cycles. The map seems to be on point for the last few years. I put some short trades in at the top of that channel looking for the duplicate ABC pattern, wringing my hands with confidence. I was stopped out three times on the way up certain the reversal was there. Again, too early and impatient.
I'm certainly not qualified to give advice, but if I was, I may suggest something I can't seem to practice.......trading with the trend after the fox has shown his hand! Wait, I think that's already been suggested.

[GT3RS]

Thanks Mike. Map looks interesting!!

Seems EUR wasn't ready to reverse......

Still early days for me. Page 254 of this monster thread.

But I agree with you about following the trend, rather than trying to pick tops and bottoms. Thinking about trading just from confirmed level 1s, or even level 2s.....

Anyway, back to the reading!!!

[xrismak]

We are going to lose money... that's the nature of the business, and the cost of learning.
Trade small enough, and you can afford to make enough bad trades that you learn how to make good trades
When entering a trade, ask yourself, "How much am I willing to pay for this lesson?" Never look at how much you could "win"!

Good trade management is more important than the perfect entry...
A well managed sloppy entry will, more often than not, pay better than a sloppily managed perfect entry

Let your current trade on a pair cover the cost of your scale-in trades, and still put some money into your balance...
Look at Steve's DIAD stuff... I tend to put my BE line 40% (of the gap between trades) below the first scale-in trade, so I get to pocket 20% of the gap if the BE line is hit... If I add a second scale-in, (using a fixed pip-step) I put the BE line at 80% below the second scale-in, which gives me 60% of the pip-step in profit.

I currently have a buy trade of 0.01 lots on GBPCHF, which I opened on March 9... Its server-side SL is $46 in profit, its locally monitored trailing SL is $50 in profit (Swap is currently 64 cents)... If the market comes to within 10 pips of my trailing stop, I plan to drop a 0.1 lot buy on it, with a 12 pip locally monitored SL, (20 pip server-side SL) and, if price goes my way after that, I'll be doing the DIAD stuff, with a 20 pip gap between trades. Not today, though, as I don't trust the weekend gap

I've been playing with this train wreck for over 5 years, using god knows how many EA's which win money quickly, and give more back even quicker, blowing accounts along the way.
I opened an account with $750 in June last year, trying to learn how to pick my trades, and took until three weeks ago to lose all of $100... In the past three weeks, I have regained $81 (all with 0.01 lot trades).

I'm getting there, slowly, but I've got a hell of a long way to go yet

Have fun!
Radar =8^)

Yeap Radar,
So long as you Know When and How to USE the Leverage to Your Advantage, you will frequently like me these days Do a

Hello :

EUR-JPY @_15-43-16 on 17-05-17.png

and
Goodbye:

EUR-JPY @15-43-56 on 17-05-17.png

Happy Trading Folks,

xrismak

[eresz]

just to keep the thread going and to practice at the same time, my entry, maybe it's at lvl 3, selling AUDUSD with 50pip target

[dydynamic]

EURNZD M15
If you look closely,you will see the anchor trade then below it the stack trades... :hi: